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Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Better Bets vs. SPTN Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

SpartanNash (SPTN)

Market Price (9/30/2025): $26.9 | Market Cap: $907.8 Mil
Sector: Consumer Staples | Industry: Food Distributors

SpartanNash (SPTN)

Market Price (9/30/2025): $26.9
Market Cap: $907.8 Mil
Sector: Consumer Staples
Industry: Food Distributors

Investment Highlights

0 Attractive yield
Dividend Yield is 3.3%, FCF Yield is 7.7%		 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14%		 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 114%
1   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.8%
0 Attractive yield
Dividend Yield is 3.3%, FCF Yield is 7.7%
1 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14%
2 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 114%
3 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.8%

Market Valuation

 9/30/252024202320222021
Share Price CYE$26.90$17.75$21.27$26.98$22.37
Market Cap CYE ($ Mil)907.8597.0724.6948.7780.7
Total Debt ($ Mil)1,058.11,108.4865.6788.1720.3
Total Cash ($ Mil)25.521.618.029.110.7
Enterprise Value ($ Mil)1,940.31,705.41,590.21,736.81,501.0
Valuation Ratios     
P/S TTM0.10.10.10.10.1
P/EBIT TTM25.911.17.115.38.2
P/E TTM-57.12070.515.030.912.4
Sector Ratios     
P/S TTM (Sector)0.90.90.90.91.6
P/EBIT TTM (Sector)8.38.910.09.411.6
P/E TTM (Sector)12.412.114.011.616.3
 9/30/2520242023
Share Price CYE$26.90$17.75$21.27
Market Cap CYE ($ Mil)907.8597.0724.6
Total Debt ($ Mil)1,058.11,108.4865.6
Total Cash ($ Mil)25.521.618.0
Enterprise Value ($ Mil)1,940.31,705.41,590.2
Valuation Ratios   
P/S TTM0.10.10.1
P/EBIT TTM25.911.17.1
P/E TTM-57.12070.515.0
Sector Ratios   
P/S TTM (Sector)0.90.90.9
P/EBIT TTM (Sector)8.38.910.0
P/E TTM (Sector)12.412.114.0

Business Description

SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 65,000 stock-keeping units, such as dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmacy products to independent retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
SPTN Return28%53%21%-21%-17%-100%�
Peers Return-5%55%-7%-8%21%12%70%
S&P 500 Return16%27%-19%24%23%13%106%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: SYY, USFD, PFGC, UNFI, FARM. See SPTN Returns vs. Peers.
[3] 2025 data is for the year up to 9/29/2025 (YTD)

Better Bets than SpartanNash (SPTN)

 SPTNBetter Performance than SPTN
MetricValueIndustry (Food Distributors)
Rev Chg LTM1.5%SYY (3.2%), USFD (5.3%), PFGC (8.6%), CHEF (7.9%), AVO (25.3%)
Rev Chg 3Y Avg1.8%SYY (5.9%), USFD (6.3%), PFGC (7.6%), CHEF (22.1%), AVO (12.2%)
Op Mgn LTM1.1%SYY (3.8%), USFD (3.1%), PFGC (1.3%), CHEF (3.6%), ANDE (1.3%)
CFO/Rev LTM1.9%SYY (3.1%), USFD (3.3%), CHEF (4.0%), AVO (4.2%), CVGW (4.3%)
FCF/Rev LTM0.7%SYY (2.0%), USFD (2.4%), PFGC (1.1%), CHEF (3.0%), AVO (0.9%)
Total Yield1.6%SYY (7.2%), USFD (3.1%), PFGC (2.1%), CHEF (3.1%), ANDE (7.9%)
 SPTNBetter Performance than SPTN
MetricValueAll Other Sectors
Rev Chg LTM1.5%NVDA (71.6%), MSFT (14.9%), AAPL (6.0%), GOOGL (13.1%), AMZN (10.9%)
Rev Chg 3Y Avg1.8%NVDA (92.0%), MSFT (12.5%), AAPL (1.8%), GOOGL (10.2%), AMZN (11.3%)
Op Mgn LTM1.1%NVDA (58.1%), MSFT (45.6%), AAPL (31.9%), GOOGL (32.7%), AMZN (11.4%)
CFO/Rev LTM1.9%NVDA (46.6%), MSFT (48.3%), AAPL (26.6%), GOOGL (36.0%), AMZN (18.1%)
FCF/Rev LTM0.7%NVDA (43.6%), MSFT (25.4%), AAPL (23.5%), GOOGL (18.0%), AMZN (2.0%)
Total Yield1.6%NVDA (2.0%), MSFT (3.3%), AAPL (3.0%), GOOGL (4.2%), AMZN (3.0%)

Latest Trefis Analyses

Trade Ideas

Select past trade ideas related to SPTN and Food Distributors.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
STZ_7312025_Monopoly_xInd_xCD_Getting_Cheaper07312025STZConstellation BrandsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-20.7%-20.7%-21.1%
SJM_6302025_Dip_Buyer_FCFYield06302025SJMJM SmuckerDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		12.3%12.3%0.0%
BF-B_5312025_Dip_Buyer_ValueBuy05312025BF-BBrown-FormanDip BuyDB | PE OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-17.4%-17.4%-22.4%
CPB_5312025_Dip_Buyer_ValueBuy05312025CPBCampbell'sDip BuyDB | PE OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-5.8%-5.8%-10.7%
LW_5312025_Dip_Buyer_ValueBuy05312025LWLamb WestonDip BuyDB | PE OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-0.4%-0.4%-13.9%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
STZ_7312025_Monopoly_xInd_xCD_Getting_Cheaper07312025STZConstellation BrandsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-20.7%-20.7%-21.1%
SJM_6302025_Dip_Buyer_FCFYield06302025SJMJM SmuckerDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		12.3%12.3%0.0%
BF-B_5312025_Dip_Buyer_ValueBuy05312025BF-BBrown-FormanDip BuyDB | PE OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-17.4%-17.4%-22.4%
CPB_5312025_Dip_Buyer_ValueBuy05312025CPBCampbell'sDip BuyDB | PE OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-5.8%-5.8%-10.7%
LW_5312025_Dip_Buyer_ValueBuy05312025LWLamb WestonDip BuyDB | PE OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-0.4%-0.4%-13.9%

See Trefis Trade Ideas for more.

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1FTELFitell1068.4%-96.0%
2WOLFWolfspeed886.6%231.8%
3WHLRWheeler Real Estate Investment Trust404.4%-99.7%
4MNDRMobile-health Network Solutions388.0%-71.1%
5QUREuniQure329.5%236.4%
6NUAINew Era Energy & Digital311.7% 
7BQBoqii208.5%153.9%
8DVLTDatavault AI180.5% 
9DFLIDragonfly Energy132.9%-76.4%
10SHFSSHF130.9%-18.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1WOKWORK Medical Technology-91.5%-98.5%
2KALAKala Bio-89.0%-70.5%
3MLTXMoonLake Immunotherapeutics-88.6%-88.5%
4SDMSmart Digital-87.5%-83.8%
5NRIMNorthrim BanCorp-76.1%14.0%
6IOBTIO Biotech-75.5%-60.3%
7ZYBTZhengye Biotechnology-74.9% 
8AMBIAmbipar Emergency Response-74.0%-78.8%
9FGLFounder-63.8%-64.3%
10BINIBollinger Innovations-63.6%-100.0%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical13709.5%13709.5%
2TNFATNF Pharmaceuticals7529.9%-95.9%
3QMMMQMMM2749.6%9228.1%
4WOLFWolfspeed1757.1%231.8%
5EAFGrafTech International1199.0%-24.2%
6SEGGLottery.com646.7%-7.9%
7SLNHSoluna435.8%20.0%
8PTNMPitanium433.3% 
9NUAINew Era Energy & Digital395.6% 
10BREABrera380.3%3593.8%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1BINIBollinger Innovations-96.1%-100.0%
2WOKWORK Medical Technology-90.8%-98.5%
3CJETChijet Motor-90.3%-92.7%
4MLTXMoonLake Immunotherapeutics-88.6%-88.5%
5YAASYouxin Technology-85.8%-98.9%
6ATYRaTyr Pharma-85.1%-78.0%
7CURXCuranex Pharmaceuticals-84.9%28.8%
8YYGHYY-84.6%-80.3%
9NEONNeonode-84.6%-58.7%
10SDMSmart Digital-82.5%-83.8%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1FTELFitell1068.4%-96.0%
2WOLFWolfspeed886.6%231.8%
3WHLRWheeler Real Estate Investment Trust404.4%-99.7%
4MNDRMobile-health Network Solutions388.0%-71.1%
5QUREuniQure329.5%236.4%
6NUAINew Era Energy & Digital311.7% 
7BQBoqii208.5%153.9%
8DVLTDatavault AI180.5% 
9DFLIDragonfly Energy132.9%-76.4%
10SHFSSHF130.9%-18.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1WOKWORK Medical Technology-91.5%-98.5%
2KALAKala Bio-89.0%-70.5%
3MLTXMoonLake Immunotherapeutics-88.6%-88.5%
4SDMSmart Digital-87.5%-83.8%
5NRIMNorthrim BanCorp-76.1%14.0%
6IOBTIO Biotech-75.5%-60.3%
7ZYBTZhengye Biotechnology-74.9% 
8AMBIAmbipar Emergency Response-74.0%-78.8%
9FGLFounder-63.8%-64.3%
10BINIBollinger Innovations-63.6%-100.0%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for SpartanNash

Financials

SPTNSYYUSFDPFGCUNFIFARMMedian
NameSpartanN.Sysco US Foods Performa.United N.Farmer B. 
Mkt Price-81.8476.75104.2231.761.7376.75
Mkt Cap0.939.517.716.11.90.09.0
Rev LTM9,69381,37138,65263,29932,24334235,448
Op Inc LTM1093,0891,1958161622489
FCF LTM701,6049327042247464
FCF 3Y Avg451,945871678210-14444
CFO LTM1862,5101,2781,21050916860
CFO 3Y Avg1632,7891,1821,068516-2792

Growth & Margins

SPTNSYYUSFDPFGCUNFIFARMMedian
NameSpartanN.Sysco US Foods Performa.United N.Farmer B. 
Rev Chg LTM1.5%3.2%5.3%8.6%6.6%0.3%4.3%
Rev Chg 3Y Avg1.8%5.9%6.3%7.6%4.4%2.9%5.1%
Rev Chg Q1.8%2.8%3.8%11.5%7.5%0.9%3.3%
QoQ Delta Rev Chg LTM0.4%0.7%1.0%2.8%1.8%0.2%0.8%
Op Mgn LTM1.1%3.8%3.1%1.3%0.5%0.6%1.2%
Op Mgn 3Y Avg1.1%3.9%2.9%1.3%0.5%-4.2%1.2%
QoQ Delta Op Mgn LTM-0.1%-0.1%0.0%-0.1%0.1%2.0%-0.0%
CFO/Rev LTM1.9%3.1%3.3%1.9%1.6%4.7%2.5%
CFO/Rev 3Y Avg1.7%3.5%3.2%1.8%1.7%-0.5%1.7%
FCF/Rev LTM0.7%2.0%2.4%1.1%0.7%1.9%1.5%
FCF/Rev 3Y Avg0.5%2.5%2.4%1.1%0.7%-4.2%0.9%

Valuation

SPTNSYYUSFDPFGCUNFIFARMMedian
NameSpartanN.Sysco US Foods Performa.United N.Farmer B. 
Mkt Cap0.939.517.716.11.90.09.0
P/S0.10.50.50.30.10.10.2
P/EBIT25.912.916.919.733.7-5.418.3
P/E-57.121.631.947.4-28.3-2.69.5
P/CFO4.915.713.813.33.82.39.1
Total Yield1.6%7.2%3.1%2.1%-3.5%-38.9%1.8%
Dividend Yield3.3%2.5%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg5.9%5.3%6.6%6.3%16.3%-22.1%6.1%
D/E1.20.40.30.51.91.40.8
Net D/E1.10.30.30.51.81.20.8

Returns

SPTNSYYUSFDPFGCUNFIFARMMedian
NameSpartanN.Sysco US Foods Performa.United N.Farmer B. 
1M Rtn-1.7%-1.1%2.8%12.3%-13.5%1.7%
3M Rtn-8.1%-0.3%19.1%36.3%26.3%19.1%
6M Rtn-9.1%17.2%32.5%16.0%-22.1%16.0%
12M Rtn-7.5%27.6%33.3%89.8%-13.1%27.6%
3Y Rtn-24.7%190.3%142.7%-7.6%-63.1%24.7%
1M Excs Rtn-0.4%-3.2%0.8%11.3%-16.4%0.4%
3M Excs Rtn-0.7%-7.7%11.8%28.9%18.9%11.8%
6M Excs Rtn--8.9%-0.4%15.4%-0.4%-42.8%-0.4%
12M Excs Rtn--7.6%6.6%18.1%76.1%-26.8%6.6%
3Y Excs Rtn--63.3%95.1%49.8%-99.2%-144.7%-63.3%

Comparison Analyses

Financials

$ Mil | FY: 12/282025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End7/12/20254/19/202512/28/202410/5/20247/13/20244/20/202412/30/202310/7/20237/15/20234/22/20231/1/202310/8/2022
Filing Date8/14/20255/29/20252/26/202511/7/20248/15/20245/30/20242/28/202411/9/20238/17/20236/1/20233/1/202311/10/2022
Key Financials Quarterly            
Total Revenue2,2712,9102,2622,2512,2312,8062,2452,2642,3122,9072,3092,297
Ebitda4656-2495062484759553142
Operating Income27222931353733253428818
Net Income62-351111131011191119
EPS0.180.06-1.040.330.340.380.300.330.570.330.020.27
Key Financials TTM            
Total Revenue TTM9,6939,6539,5499,5339,5469,6289,7299,7939,8259,7879,6439,427
Ebitda TTM149153159209207216209192187162164187
Operating Income TTM1091171311351291281199588707095
Net Income TTM-16-110464654524341273556
Growth Rates Quarterly            
Total Revenue Growth1.8%3.7%0.7%-0.6%-3.5%-3.5%-2.8%-1.4%1.7%5.2%10.3%10.8%
EBITDA Growth-7.6%-10.0%-104.9%5.1%-15.1%13.1%51.8%11.9%74.9%-3.1%-42.6%-5.9%
Operating Income Growth-21.5%-38.9%-10.7%23.6%3.7%28.9%302.6%38.7%118.4%0.2%-76.0%-21.2%
Net Income Growth-46.1%-84.0%-440.4%-1.9%-41.0%14.4%1485.4%17.6%280.6%-41.2%-97.1%-37.6%
Margins Quarterly            
EBITDA Margin2.0%1.9%-0.1%2.2%2.2%2.2%2.1%2.1%2.5%1.9%1.4%1.8%
Operating Income Margin1.2%0.8%1.3%1.4%1.6%1.3%1.4%1.1%1.5%1.0%0.3%0.8%
Net Income Margin0.3%0.1%-1.6%0.5%0.5%0.5%0.5%0.5%0.8%0.4%0.0%0.4%
Cash & Debt            
Total Cash2620221825-181817-2919
Total Debt1,0581,1151,10892489108668198320788809
Net Debt / (Cash)1,0331,0951,087907866-848802815-759790
Cash Flows Quarterly            
FCF from Operations872683-99636-64652-3103-21
Cash Flows TTM            
FCF from Operations TTM186195206117172128891991319811025
Returns to Shareholders Quarterly            
Dividends787778777877
Share Repurchases-0-0-0-0123-0-0811917
Return on Invested Capital (ROIC) Quarterly            
ROIC7.3%3.0%6.9%6.5%7.5%-7.0%6.0%7.6%-1.1%3.8%
Return on Invested Capital (ROIC) TTM            
ROIC TTM7.3%7.5%0.2%7.1%7.1%-6.8%5.6%5.0%-4.2%5.6%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Wholesale8,1098,0507,445  
Retail2,8112,7992,5822,6382,381
Inter-segment sales-1,191-1,205-1,096  
Food Distribution   4,5773,983
Military   2,1332,172
Total9,7299,6438,9319,3488,536


Operating Income by Segment
$ Mil20242023202220212020
Wholesale17816645  
Retail8077676619
Non-cash rent33   
Postretirement plan amendment and settlement-0-0   
Gain on disposal of assets-0    
Severance associated with cost reduction initiatives-0-1   
Legal settlement-1    
Stock warrant-2-2   
Acquisition and integration, net-3-0   
Cloud computing amortization-5-4   
Organizational realignment, net-5-2   
Restructuring and asset impairment, net-9-1   
Stock-based compensation-13-9   
Last-In-First-Out (LIFO) expense-16-57   
Depreciation and amortization-99-94   
Costs related to shareholder activism -7   
Loss on disposal of assets -1   
Food Distribution   4647
Military   -10-9
Total1076911210257


Assets by Segment
$ Mil20242023202220212020
Wholesale1,576    
Retail779  764794
Food Distribution   1,1131,087
Military   401391
Discontinued operations    3
Total2,356  2,2772,276


Price Behavior

SPTN Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta0.040.042.400.370.300.36
Up Beta0.020.054.150.240.380.46
Down Beta0.110.080.79-0.080.030.35
Up Capture9%7%261%104%35%6%
Bmk +ve Days10223571142415
Stock +ve Days9202957119372
Down Capture-7%-5%104%66%36%60%
Bmk -ve Days11192754106334
Stock -ve Days8152660119365

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date9152025
Short Interest: Shares Quantity4,844,035
Short Interest: % Change Since 831202522.1%
Average Daily Volume652,950
Days-to-Cover Short Interest7.42
Basic Shares Quantity33,747,000
Short % of Basic Shares14.4%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/14/2025-0.1%0.0%0.5%
5/29/202510.1%-5.5%37.8%
2/12/202511.4%2.3%5.9%
11/7/2024-12.4%-18.9%-17.5%
8/15/20244.0%9.8%12.7%
5/30/2024-0.8%-3.5%-5.0%
2/15/2024-7.7%-7.0%-9.5%
11/8/2023-10.1%-7.0%0.3%
...
SUMMARY STATS   
# Positive111012
# Negative131412
Median Positive3.0%3.6%5.0%
Median Negative-6.8%-6.3%-6.6%
Max Positive11.4%9.8%37.8%
Max Negative-15.6%-18.9%-23.3%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025814202510-Q 7/12/2025
3312025529202510-Q 4/19/2025
12312024226202510-K 12/28/2024
93020241107202410-Q 10/5/2024
6302024815202410-Q 7/13/2024
3312024530202410-Q 4/20/2024
12312023228202410-K 12/30/2023
93020231109202310-Q 10/7/2023
6302023817202310-Q 7/15/2023
3312023601202310-Q 4/22/2023
12312022301202310-K 1/1/2023
93020221110202210-Q 10/8/2022
6302022818202210-Q 7/16/2022
3312022602202210-Q 4/23/2022
12312021302202210-K 1/1/2022
93020211112202110-Q 10/9/2021

Insider Activity

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External Quote Links


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