Performance Food Group's first quarter featured 5.5% sales growth, including 5.5% organic high-margin independent case volume growth in its foodservice segment. This helped expand PFG's adjusted EBITDA margin by 10 basis points to 2.9%, despite angst from fuel costs and moderating food inflation.
Aggressive salesforce expansion aids PFG’s ability to compete for independent customer accounts, which we see as critical to driving growth in a high-touch competitive landscape.
PFG’s foodservice segment is heavily exposed to restaurants, which account for over 80% of segment sales. It could be overly exposed if consumers’ appetite for food-away-from-home fare is tempered by ongoing macro uncertainty.
Metric | PFGC |
|---|---|
Price/Earnings (Normalized) | 23.63 |
Price/Book Value | 3.36 |
Price/Sales | 0.25 |
Price/Cash Flow | 11.61 |
Metric | PFGC |
|---|---|
Quick Ratio | 0.62 |
Current Ratio | 1.61 |
Interest Coverage | 2.32 |
Metric | PFGC |
|---|---|
Return on Assets (Normalized) | 2.34% |
Return on Equity (Normalized) | 9.06% |
Return on Invested Capital (Normalized) | 5.75% |
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