Grizzly Bulls
Financial research concept

Foodservice Adjusted EBITDA Margin

measures adjusted EBITDA as a percentage of net sales, showing how gross profit and distribution operating costs convert into an issuer-defined profitability measure.

By Lee BaileyPublished Sep 29, 2026
Research context

See what supports this page, how current it is, and where comparable or historical context is available.

Research date
Sep 29, 2026Use the dated article and cited sources for the definition, examples, and stated limitations.
Operating-model context
10 connected conceptsPart of the reviewed Foodservice Distribution Economics; issuer definitions remain distinct where disclosed.
Company examples
1 reviewed companyRelationships reflect supported examples, not a normalized cross-company KPI ranking.
  1. EBITDA margin sits below gross-margin economics
  2. Margin expansion can come from several operating levers
  3. Part of the Foodservice Distribution Economics
  4. See It in Company Research
  5. Continue Research

Foodservice adjusted EBITDA margin measures adjusted EBITDA as a percentage of net sales under the distributor's non-GAAP definition.

US Foods reported an adjusted EBITDA margin of 5.7% for the 13 weeks ended June 27, 2026, up from 5.4% a year earlier.

EBITDA margin sits below gross-margin economics

Gross margin captures the spread between sales and cost of goods sold. Adjusted EBITDA margin also reflects distribution, selling, and administrative costs after applying the issuer's specified non-GAAP adjustments.

US Foods said Q2 adjusted EBITDA growth reflected stronger operating performance alongside gross-profit gains and cost productivity.

Margin expansion can come from several operating levers

Higher case volume, richer customer mix, sourcing improvement, productivity, and controlled operating costs can all support margin conversion.

That means adjusted EBITDA margin should be read with food-cost inflation and volume growth rather than treated as a pure pricing measure. It also should not be compared across distributors without reconciling non-GAAP adjustment policies.

Primary source: US Foods Q2 2026 Form 10-Q.

Part of the Foodservice Distribution Economics

Connect case-volume growth and acquisition-normalized demand with local and independent customer mix, proprietary-brand penetration, food-cost inflation, gross margin, and adjusted EBITDA conversion.

Browse the full operating model in Company Analysis →
Where this concept fits
  • Gross profit and operating conversionCurrent relationship
    Gross margin captures sales less product cost, while adjusted EBITDA margin carries the analysis through distribution, selling, administrative, and issuer-defined adjustment layers. Margin conversion therefore depends on both upstream mix and downstream cost productivity.
    Adjusted EBITDA MarginCurrent conceptFoodservice Gross Margin
  • Case growth and acquisition normalization
    Total case growth measures physical volume before acquisition normalization, organic case growth removes recently acquired operations under issuer policy, and local or independent-customer measures reveal where that volume is coming from. Local and independent definitions remain issuer-specific rather than interchangeable.
    Independent Restaurant Case GrowthLocal Case Volume GrowthOrganic Case Volume GrowthOrganic Independent Case GrowthTotal Case Volume Growth
  • Customer, brand, and inflation mix
    Independent sales mix shows customer composition, proprietary-brand case mix shows product composition, and food-cost inflation shows the pricing input moving through the distribution model. Each can affect gross profit without representing the same economic lever.
    Food Cost InflationIndependent Sales MixProprietary Brand Case Mix

See It in Company Research

These companies are examples of how the concept is reported or discussed in public filings. Definitions can differ by issuer; these links open company research rather than a normalized metric comparison.

Explore other companies in this operating model

These companies are linked to at least two other reviewed concepts in the same operating model, but are not currently linked to this concept. This is broader research navigation, not evidence that the company reports an equivalent metric.

Continue Research

Continue from the concept into the Grizzly Bulls research surface that best matches the next question. These links are research continuations, not recommendations or required steps.

Compare stocks

Compare foodservice margin conversion

Compare adjusted EBITDA margin while preserving each distributor's non-GAAP adjustments, customer mix, inflation environment, and operating-cost structure.

Continue research

Explore more topics in the Financial Research Encyclopedia.