Performance Food Group (PFGC) FY2023 results: revenue $57.3 billion, up 12.5% on the year
Performance Food Group Co. (PFGC) reported revenue of $57.3 billion for fiscal 2023, the year ended 1 July 2023, up 12.5% on the year before. Net income was $397 million, up 253.1%, and diluted earnings per share $2.54. The figures are the company's own, from the 10-K it filed with the SEC on 16 August 2023.
Revenue
$57.3 billion
+12.5% on the year
FY2016FY2023
Operating margin
1.3%
0.6% a year earlier
FY2016FY2023
Net income
$397 million
+253.1% on the year
FY2016FY2023
Diluted EPS
$2.54
+243.2% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
832
276
64.6
+200.9%
Capital expenditure
270
216
189
+25.2%
Free cash flow
562
61.0
-124
+822.0%
Free cash flow margin
1.0%
0.1%
-0.4%
Cash from investing
-295
-1,862
-200
Cash from financing
-536
1,582
-274
Depreciation and amortisation
497
463
339
+7.3%
Share-based compensation
43.4
44.0
25.4
-1.4%
Buybacks
11.2
0.0
0.0
Diluted shares, weighted
156m
151m
133m
+3.2%
Shares outstanding at period end
154m
154m
132m
+0.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
3,746
3,300
2,106
+13.5%
Debt
3,460
3,909
2,240
-11.5%
Operating lease liabilities
629
531
378
+18.5%
Finance lease liabilities
447
367
255
+22.0%
Other liabilities
4,217
4,272
2,866
-1.3%
Total liabilities and equity
12,499
12,378
7,846
+1.0%
Fixed assets
2,264
2,134
1,590
+6.1%
Goodwill
2,301
2,279
1,355
+1.0%
Intangible assets
1,028
1,196
796
-14.0%
Cash and equivalents
12.7
11.6
11.1
+9.5%
Receivables
2,399
2,307
1,580
+4.0%
Inventory
3,390
3,429
1,839
-1.1%
Other assets
1,104
1,021
674
+8.1%
Total assets
12,499
12,378
7,846
+1.0%
10-K for the year ended 1 July 2023, filed 16 August 2023: the filing.