The Chefs' Warehouse, Inc. (CHEF) Stock Price & Analysis
The Chefs' Warehouse, Inc. (CHEF) is trading at USD 106.35, down 0.88% today, as of October 23, 2026 at 14:59 UTC (US market open; quotes may be delayed), according to Nexqual market data.
CHEF last closed at USD 107.29; today's session has ranged USD 104.75–107.15 on volume of 51,460 shares. Market capitalization is $4.34B, with a 52-week range of USD 56.46–118.51 (NMS). Source: Nexqual, retrieved October 23, 2026 at 14:59 UTC.
Also available as compact Markdown for AI agents: nexqual.com/CHEF.md
Key facts (CHEF)
- Last four reported quarters (through Jun 26, 2026): revenue $4.39B, net income $92.0M (2.1% margin), free cash flow $126M (SEC filings).
- Valuation: P/E 47.2x (avg 39.8x at the last 3 fiscal year-ends), EV/EBITDA 21.2x, net debt $589M.
- 1 of 80 tracked superinvestors hold CHEF (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 5 Form 4 filings, $25.3M; 5 not under a Rule 10b5-1 plan ($25.3M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.13 on a 1–5 scale) (8 analysts), mean target USD 124.75 (range 119–131).
- Total return with dividends: 1Y +81.0% vs S&P 500 +14.8%; 5Y +205.0% vs S&P 500 +77.5%.
- Next earnings: 2026-10-28, EPS estimate USD 0.59, revenue estimate $1.12B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (CHEF)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.75B | $2.61B | $3.43B | $3.79B | $4.15B | $4.39B |
| Gross profit | $390M | $619M | $814M | $914M | $1.00B | — |
| Operating income | $10.8M | $85.7M | $101M | $128M | $145M | $174M |
| Net income | -$4.9M | $27.8M | $34.6M | $55.5M | $72.4M | $92.0M |
| EPS (diluted) | -$0.13 | $0.73 | $0.88 | $1.32 | $1.68 | — |
| Free cash flow | -$58.7M | -$22.7M | $4.2M | $104M | $87.8M | $126M |
| Gross margin | 22.4% | 23.7% | 23.7% | 24.1% | 24.2% | — |
| Operating margin | 0.6% | 3.3% | 2.9% | 3.4% | 3.5% | 4.0% |
| Net margin | -0.3% | 1.1% | 1.0% | 1.5% | 1.7% | 2.1% |
| Revenue growth | +57.0% | +49.7% | +31.4% | +10.5% | +9.4% | — |
| Cash + short-term investments | $115M | $159M | $49.9M | $115M | $121M | — |
| Total debt | $399M | $675M | $718M | $707M | $749M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 26, 2026) (CHEF)
P/E 47.2x · P/S 1.0x · EV/EBITDA 21.2x · EV/Sales 1.1x · P/FCF 34.5x · P/B 6.7x · FCF yield 2.90% · Earnings yield 2.12% · Buyback yield (TTM) 0.35% · Net debt $589M · EV $4.93B
P/E at fiscal year-ends: Dec 2025 39.6x, Dec 2024 40.9x, Dec 2023 38.8x.
Superinvestors (SEC 13F-HR, Q2 2026) (CHEF)
1 of 80 tracked investors hold CHEF. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.03% | $17.4M | Added +8.4% |
Insider sales (SEC Form 4, open-market, last ~7 months) (CHEF)
0 of 5 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-14 | Aldous Alexandros | General Counsel | 35,000 | $3.9M | 50.4% | No | Too little history (no open-market trades in 2023) |
| 2026-08-14 | Polychroni Christina | Chief Human Resources Officer | 2,752 | $308K | 11.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-14 | Pappas Christopher | President and CEO | 100,000 | $11.0M | 4.5% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-19 | Polychroni Christina | Chief Human Resources Officer | 4,500 | $356K | 15.4% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-05 | Pappas Christopher | President and CEO | 125,000 | $9.8M | 5.3% | No | Too little history (no open-market trades in 2023 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (CHEF)
Consensus Buy (mean 2.13 on a 1–5 scale), 8 analysts; mean target USD 124.75 (low 119, high 131).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | Morgan Stanley | Target raised | Equal-Weight | $104 → $120 |
| 2026-09-11 | TD Cowen | Target raised | Buy | $123 → $131 |
| 2026-07-30 | UBS | Target raised | Buy | $114 → $125 |
| 2026-07-30 | Benchmark | Target raised | Buy | $106 → $125 |
| 2026-07-30 | Morgan Stanley | Target raised | Equal-Weight | $97 → $104 |
| 2026-07-30 | BTIG | Target raised | Buy | $100 → $125 |
| 2026-07-30 | TD Cowen | Target raised | Buy | $110 → $123 |
| 2026-07-15 | Morgan Stanley | Downgrade | Overweight → Equal-Weight | $83 → $97 |
| 2026-07-14 | Benchmark | Target raised | Buy | $90 → $106 |
| 2026-07-07 | TD Cowen | Initiated | Buy | $110 |
Total return (dividends reinvested) (CHEF)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | +81.0% | +205.0% |
| S&P 500 (SPY) | +14.8% | +77.5% |
| Per year | +81.1% | +25.0% |
| Volatility (annualized) | 37.7% | 41.8% |
| Max drawdown | -20.5% (Feb 2026→Apr 2026) | -54.8% (Jul 2022→Oct 2023) |
CHEF revenue by product line (quarter ended Jun 26, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Total Specialty | $711.0M | 60.8% | +11.0% |
| Center-of-the-Plate | $457.6M | 39.2% | +16.0% |
| Dry Goods | $185.8M | 15.9% | +10.8% |
| Produce | $166.2M | 14.2% | +34.0% |
| Pastry | $149.4M | 12.8% | +7.3% |
| Cheese and Charcuterie | $79.4M | 6.8% | +4.5% |
| Dairy and Eggs | $68.6M | 5.9% | -12.0% |
| Oils and Vinegars | $36.8M | 3.1% | +2.9% |
| Kitchen Supplies | $24.9M | 2.1% | +24.8% |
| Total revenue | $1.17B | 100% | — |
CHEF revenue by region (quarter ended Sep 26, 2025)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $937.6M | 91.8% | +9.3% |
| Non Us | $83.7M | 8.2% | +14.2% |
| Total revenue | $1.02B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
CHEF company outlook (results filed Jul 29, 2026)
- “We are providing our fiscal 2026 full year financial guidance as follows: • Net sales in the range of $4.50 billion to $4.60 billion, • Gross profit to be between $1.102 billion and $1.125 billion and • Adjusted EBITDA 1 to be between $305 million and $315 million.”
Quoted word-for-word from the SEC 8-K results press release.
CHEF analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.59 | $0.53 | +10.2% | $1.12B | 8 |
| Next quarter (ends Dec 2026) | $0.79 | $0.75 | +5.1% | $1.24B | 8 |
| Current fiscal year (ends Dec 2026) | $2.55 | $2.27 | +12.1% | $4.59B | 8 |
| Next fiscal year (ends Dec 2027) | $3.11 | $2.69 | +15.4% | $4.99B | 7 |
CHEF options: expected move
Options price a move of about ±11.3% (±$12.15) by Nov 20, 2026, which includes earnings on Oct 28, 2026. Over the last 8 reports the stock moved ±9.5% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 49.7% | ±11.3% |
| Dec 18, 2026 | 56 | 44.3% | ±14.1% |
| Jan 15, 2027 | 84 | 41.1% | ±15.9% |
| Apr 16, 2027 | 175 | 39.7% | ±21.9% |
30-day implied volatility 47% vs 36.4% realized over the last 30 trading days. Put/call ratio (volume) 20.38. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 14:59 UTC)
| Price | USD 106.35 |
|---|---|
| Change | ▼ 0.88% (down) |
| Previous Close | USD 107.29 |
| Open | USD 107.15 |
| Day Range | USD 104.75 – 107.15 |
| 52-Week Range | USD 56.46 – 118.51 |
| Volume | 51,460 shares |
| Market Cap | $4.34B |
| Exchange | NMS |
Technical Analysis (CHEF)
Nexqual's technical model rates CHEF "SELL" based on 2 bullish and 5 bearish signals across 128 daily candles, as of October 23, 2026 at 14:59 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 41.02 (neutral) |
| vs SMA50 | Below (USD 111.06) |
| MACD | -0.47 (negative) |
Analyst Ratings (CHEF)
Wall Street analysts rate CHEF "Buy" based on 8 analysts, with a mean price target of USD 124.75 (range USD 119–131), per Nexqual as of October 23, 2026 at 14:59 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 8 |
| Mean Target | USD 124.75 |
| High Target | USD 131 |
| Low Target | USD 119 |
| Buy / Hold / Sell | 7 / 1 / 0 |
Earnings (CHEF)
| Next Earnings Date | 2026-10-28 |
|---|---|
| EPS Estimate | USD 0.59 |
| Revenue Estimate | $1.12B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.78 vs est 0.59 ▲ beat |
| 2026-03-31 | USD 0.4 vs est 0.25 ▲ beat |
| 2025-12-31 | USD 0.68 vs est 0.62 ▲ beat |
| 2025-09-30 | USD 0.5 vs est 0.42 ▲ beat |
Source: Nexqual, October 23, 2026 at 14:59 UTC.
Financials & Fundamentals (CHEF)
| Total Revenue | $4.39B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +12.90% |
| Gross Margin | +24.46% |
| Operating Margin | +5.02% |
| Profit Margin | +2.09% |
| ROE | +15.25% |
| Debt / Equity | 1.46 |
| Current Ratio | 2.15 |
| Total Cash | $135.47M |
| Total Debt | $946.61M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $125.77M (2.9% of revenue) |
Source: Nexqual, October 23, 2026 at 14:59 UTC.
Financial Health Score (CHEF)
Nexqual rates The Chefs' Warehouse, Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 14:59 UTC.
| Growth | Solid — Revenue +9% YoY (annual) |
|---|---|
| Profitability | Mixed — Gross margin 24%, operating 5% (last 12 months) |
| Balance Sheet | Mixed — $135M cash and investments vs $725M debt (Jun 2026, SEC) |
| Cash Flow | Mixed — FCF $126M (last 4 quarters to Jun 2026, SEC), slim 2.9% margin |
| Efficiency | Solid — ROE 15%, ROA 5.9% |
Ownership (CHEF)
| Insider Ownership | +10.13% |
|---|---|
| Institutional Ownership | +100.69% |
| Shares Outstanding | 40.80M |
| Float | 36.95M |
| Short % of Float | +13.04% |
Source: Nexqual, October 23, 2026 at 14:59 UTC.
Leadership (CHEF)
The Chefs' Warehouse, Inc. is led by Christopher Pappas, Founder, Chairman, CEO & President, per Nexqual as of October 23, 2026 at 14:59 UTC.
| Founder, Chairman, CEO & President | Christopher Pappas |
|---|---|
| Founder, Vice Chairman & COO | John Pappas |
| CFO & Assistant Secretary | James F. Leddy |
| Executive Vice President of Supply Chain & Business Intelligence | Jonathan Steckler |
Major Backers & Investors (CHEF)
Notable institutional backers of The Chefs' Warehouse, Inc. include Wellington Management, JPMorgan, Victory Capital Management Inc., according to Nexqual as of October 23, 2026 at 14:59 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Wellington Management | 5.86% |
| JPMorgan | 3.82% |
| Victory Capital Management Inc. | 3.32% |
| Alliancebernstein L.P. | 2.64% |
| Victory Portfolios-Victory Sycamore Small Company Opportunity Fund | 1.79% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 14.81% |
| Vanguard Group | 6.42% |
| State Street | 3.69% |
| Dimensional Fund Advisors | 2.43% |
| Geode Capital | 2.36% |
Source: Nexqual, October 23, 2026 at 14:59 UTC.
From The Chefs' Warehouse, Inc.'s Latest SEC 10-K Filing (filed 2026-02-24)
Key Strengths & Strategy (as disclosed to the SEC)
- Within our product offerings, we carry numerous gourmet brands, and at the same time, we seek to maximize product contribution through the sale of our proprietary brands, which we offer in a number of staple products, including bulk olive oil, Italian grating cheeses and butter.
- We believe we have the opportunity to continue to gain market share in our existing markets by offering an extensive selection of specialty food products, as well as center-of-the-plate proteins, produce and traditional broadline staple food products through our unique, collaborative and educational sales efforts and efficient, scalable distribution solution.
- We have built a first-class, scalable inventory management and logistics platform that enables us to efficiently fill our customers' orders and to profitably meet our customers' needs for varying drop sizes, high service levels and timely delivery.
- As a result, our experienced and sophisticated sales professionals, customer relationships and distribution platform are important to these suppliers' route-to-market, which enables us to offer a wide range of products on an exclusive basis.
Legal & Regulatory Risks (Item 1A, quoted)
- Product liability claims could have a material adverse effect on our business, financial condition or results of operations.
- Climate change, or the legal, regulatory or market measures being implemented to address climate change, may have an adverse impact on our business.
- The effects of climate change may create financial and operational risks to our business, both directly and indirectly.
- Adverse judgments or settlements resulting from legal proceedings in which we may be involved in the ordinary course of our business could reduce our profits or limit our ability to operate our business.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| UNFI | United Natural Foods, Inc. | USD 46.12 | ▼ 2.45% |
| ANDE | The Andersons, Inc. | USD 64.62 | ▼ 0.74% |
| PFGC | Performance Food Group Company | USD 95.44 | ▼ 2.5% |
| AVO | Mission Produce, Inc. | USD 11.66 | ▼ 1.35% |
| USFD | US Foods Holding Corp. | USD 101.53 | ▼ 2.42% |
| SYY | Sysco Corporation | USD 82 | ▼ 2.35% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 14:59 UTC. This page is informational and not investment advice.
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