Performance Food Group Co (PFGC)
Return on total capital
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 546,000 | 828,600 | 807,100 | 823,300 | 829,000 | 808,500 | 823,400 | 802,200 | 763,100 | 665,000 | 576,100 | 480,800 | 350,000 | 268,300 | 213,400 | 219,800 | 207,100 | -99,400 | -149,700 | -132,000 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 4,472,400 | 4,337,500 | 4,257,200 | 4,208,200 | 4,126,900 | 3,953,400 | 3,861,700 | 3,828,300 | 3,745,500 | 3,581,700 | 3,496,500 | 3,400,700 | 3,299,500 | 3,204,500 | 3,160,900 | 3,123,500 | 2,106,100 | 2,057,700 | 2,046,900 | 2,020,700 |
| Return on total capital | 12.21% | 19.10% | 18.96% | 19.56% | 20.09% | 20.45% | 21.32% | 20.95% | 20.37% | 18.57% | 16.48% | 14.14% | 10.61% | 8.37% | 6.75% | 7.04% | 9.83% | -4.83% | -7.31% | -6.53% |
June 30, 2025 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $546,000K ÷ ($—K + $4,472,400K)
= 12.21%
Performance Food Group Co.'s return on total capital has exhibited notable fluctuations over the period examined. During the latter half of 2020, the ratio was negative, registering at -6.53% at September 30, 2020, and declining further to -7.31% by December 31, 2020. This indicates that the company was not generating sufficient returns to cover its cost of capital during this period, likely reflecting operational challenges or macroeconomic pressures.
Starting from the first quarter of 2021, the return on total capital began to improve, moving to a less negative figure of -4.83% as of March 31, 2021. However, the most significant turnaround occurred in mid-2021, with the ratio turning positive by June 30, 2021, at 9.83%, suggesting a marked improvement in the company's ability to generate profits on its total capital base.
Throughout 2021 and into 2022, the ratio demonstrated a steady upward trend, reaching 14.14% by September 30, 2022, and continuing to increase to 16.48% at year's end. This trajectory indicates enhanced operational efficiency and value creation, with the company increasingly leveraging its capital effectively.
The upward momentum persisted into 2023, with the ratio peaking at 20.37% as of June 30, 2023, and slightly climbing to 20.95% by September 30, 2023. The subsequent quarter reflected a marginal decline to 20.45%, but the ratio remained robustly positive.
Further data show a modest decline in the following quarters, with the return on total capital decreasing to 18.96% at December 31, 2024, and fluctuating around 19% into 2025. The lowest point in this recent trend occurred at approximately 12.21% on June 30, 2025, which still indicates a substantially positive level of returns relative to prior periods.
Overall, the data reflect a significant recovery and sustained improvement from negative returns in late 2020 to high double-digit figures in subsequent years, illustrating effective operational performance and value creation over time. Although there is some fluctuation, the general trend suggests that Performance Food Group Co. has been able to consistently generate positive returns on its total capital since mid-2021, indicative of improved strategic execution and operational efficiency.
Peer comparison
Jun 30, 2025