Chefs' Warehouse Inc (CHEF) is overvalued and Performance Food Group Company (PFGC) is slightly overvalued.
Both trade above our estimate of their intrinsic value. PFGC is the closer of the two: -16%, against -114% for CHEF.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 10.5% (average of 3 methods) values the shares at $50.69; the price of $108.36 is 114% above that value, and 73% of that value comes from beyond year five.
Leak Score 14/100 on 3 of 12 signals
Discounting its cash flows at 8.1% (average of 2 methods) values the shares at $79.26; the price of $92.19 is 16% above that value.
Leak Score 0/100 on 3 of 12 signals
| Metric | CHEF | PFGC |
|---|---|---|
| Verdict | Overvalued | Slightly overvalued |
| Price | $108.36 | $92.19 |
| Intrinsic value | $50.69 | $79.26 |
| Margin of safety | -114% | -16% |
| Leak Score | 14/100 (3/12) | 0/100 (3/12) |
| Market cap | $4.4B | $14.5B |
| Revenue growth, 5 years | 30.1% | 17.4% |
| Operating margin | 4.1% | 1.4% |
| Net margin | 2.1% | 0.5% |
| Return on equity | 15.3% | 7.7% |
| Debt to equity | 1.46 | 1.59 |
| P/E | 51.5x | 40.3x |
| Forward P/E | 35.2x | 13.6x |
| P/B | 6.8x | 2.9x |