olivLaw · US equity research
HF Foods Group Inc. HFFG
Wholesale-Groceries & Related Products · SIC 5140 · Vertical: Wholesale — nondurable goods (SIC 514x)
HF Foods Group distributes fresh produce, frozen and dry food and non-food products to Asian restaurants and other foodservice customers across the United States. The company is reporting growing revenue while it executes an operational transformation plan and expands through acquisitions, including a planned Canadian deal, in a fragmented market exposed to volatile costs such as tariffs and fuel. Net revenue reached 1228.3 million USD in fiscal 2025, and 323.8 million USD in the second quarter of 2026.
At the close of 04 Nov 2026, HF Foods Group Inc. (HFFG) stock was 1.49 USD (+1.36% on the day), with market capitalisation 80.3 m USD, beta 0.93, 52-week range 1.41–2.69 USD. Latest reported quarter (Q2 2026): revenue of 323.8 m USD (+2.8% YoY), net income of 2.6 m USD (+112.2% YoY), diluted EPS 0.05 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 42.6
- weak (30–45)
- Bollinger (20, 2)
- 1.40 – 1.62
- in the lower half of the band · %B 0.40 · band width 14.6%
- SMA 50 / 200
- 1.61 / 1.78
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.04 / -0.04
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −6.9% | −1.1% | −5.8 pp | — |
| 3 months | +2.1% | −0.5% | +2.5 pp | — |
| 6 months | −18.6% | +4.4% | −23.0 pp | — |
| Year to date | −30.7% | +12.3% | −43.0 pp | — |
| 1 year | −33.8% | +13.5% | −47.3 pp | +12.9% |
| 3 years | −64.4% | +76.4% | −140.9 pp | +37.5% |
| 5 years | −81.2% | +63.7% | −144.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 298.4 m | 305.3 m | 298.4 m | 314.9 m | 307.0 m | 308.0 m | 312.0 m | 323.8 m |
| Cost of revenue | 248.2 m | 253.1 m | 247.5 m | 259.7 m | 256.6 m | 256.9 m | 261.5 m | 268.7 m |
| Gross profit | 50.2 m | 52.2 m | 51.0 m | 55.1 m | 50.4 m | 51.1 m | 50.5 m | 55.0 m |
| SG&A | 49.7 m | 48.0 m | 49.8 m | 51.0 m | 49.3 m | 51.7 m | 49.5 m | 52.2 m |
| Operating income | 511.0 k | -42.2 m | 1.2 m | 4.1 m | 1.1 m | -39.4 m | 1.0 m | 2.8 m |
| Depreciation & amortisation | 6.7 m ≈ | 6.7 m | 6.8 m | 7.3 m ≈ | 7.3 m ≈ | 7.1 m | 7.5 m | 7.5 m ≈ |
| Interest expense | 2.6 m | 2.8 m | 2.6 m | 2.8 m | 2.9 m | 3.1 m | 2.8 m | 2.9 m |
| Pre-tax income | -5.1 m | -42.1 m | -2.5 m | 1.0 m | -1.6 m | -42.2 m | 959.0 k | 2.8 m |
| Income tax | -1.3 m | 1.8 m | -932.0 k | 521.0 k | -760.0 k | -4.8 m | -397.0 k | 218.0 k |
| Net income | -3.9 m | -43.9 m | -1.6 m | 1.2 m | -1.1 m | -37.3 m | 1.2 m | 2.6 m |
| Diluted EPS | -0.07 | -0.83 ≈ | -0.03 | 0.02 | -0.02 | -0.70 ≈ | 0.02 | 0.05 |
| Operating cash flow | 2.3 m ≈ | 18.4 m | 6.9 m | 3.5 m ≈ | -6.0 m ≈ | 21.0 m | 15.3 m | -1.3 m ≈ |
| Capex | 3.1 m ≈ | 3.1 m | 3.6 m | 3.2 m ≈ | 3.3 m ≈ | 8.9 m | 15.3 m | 5.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | ⚠ 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 291.0 m | 388.2 m | 566.8 m | 796.9 m | 1.2 bn | 1.1 bn | 1.2 bn | 1.2 bn |
| Revenue YoY | −1.5% | +33.4% | — | +40.6% | +46.9% | −1.9% | +4.6% | +2.2% |
| Net income | 6.3 m | 5.0 m | -343.5 m | 22.1 m | 460.0 k | -2.2 m | -48.5 m | -38.8 m |
| Net income YoY | −34.8% | −20.9% | — | unavailable | −97.9% | −572.6% | unavailable | unavailable |
| Diluted EPS | unavailable | 0.18 | -6.59 | 0.43 | 0.01 | -0.04 | -0.92 | -0.73 |
| Diluted EPS YoY | unavailable | unavailable | — | unavailable | −97.7% | −500.0% | unavailable | unavailable |
| net % | 2.2% | 1.3% | -60.6% | 2.8% | 0.0% | -0.2% | -4.0% | -3.2% |
| Free cash flow | 8.9 m | -28.0 k | 45.0 m | 15.3 m | 29.1 m | -5.2 m | 10.1 m | 6.6 m |
The series breaks before 2020: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 8.6 m USD
- Financial debt
- 106.1 m USD
- Net debt
- 97.5 m USD
- Equity
- 203.6 m USD
- Total assets
- 541.5 m USD
- Debt / equity
- 0.52x
- Current ratio
- 1.18x
- ROE
- -17.5%
- ROA
- -7.1%
- FCF margin
- 0.5%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 566.8 m | 796.9 m | 1.2 bn | 1.1 bn | 1.2 bn | 1.2 bn | SEC (XBRL)· 16 Mar 2026verified |
| Cost of revenue | 466.1 m | 645.4 m | 965.0 m | 944.5 m | 996.5 m | 1.0 bn | SEC (XBRL)· 16 Mar 2026verified |
| Gross profit | 100.7 m | 151.5 m | 205.5 m | 204.0 m | 205.2 m | 207.6 m | SEC (XBRL)· 16 Mar 2026verified |
| SG&A | 106.4 m | 122.0 m | 195.0 m | 195.1 m | 198.0 m | 201.8 m | SEC (XBRL)· 16 Mar 2026verified |
| Operating income | -343.8 m | 29.5 m | 10.6 m | 9.0 m | -39.1 m | -33.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Depreciation & amortisation | 18.9 m | 19.1 m | 24.9 m | 25.9 m | 26.7 m | 28.4 m | SEC (XBRL)· 16 Mar 2026verified |
| EBITDA | -324.9 m ≈ | 48.6 m ≈ | 35.5 m ≈ | 34.9 m ≈ | -12.5 m ≈ | -4.6 m ≈ | SEC (XBRL)· 16 Mar 2026derived |
| Interest expense | 4.3 m | 4.1 m | 7.5 m | 11.5 m | 11.4 m | 11.5 m | SEC (XBRL)· 16 Mar 2026verified |
| Pre-tax income | -347.9 m | 27.3 m | 4.0 k | -2.6 m | -46.1 m | -45.3 m | SEC (XBRL)· 16 Mar 2026verified |
| Income tax | -4.7 m | 4.5 m | -231.0 k | 41.0 k | 2.0 m | -6.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Net income | -343.5 m | 22.1 m | 460.0 k | -2.2 m | -48.5 m | -38.8 m | SEC (XBRL)· 16 Mar 2026verified |
| Diluted EPS | -6.59 | 0.43 | 0.01 | -0.04 | -0.92 | -0.73 | SEC (XBRL)· 16 Mar 2026verified |
| Weighted average diluted shares | 52.1 m | 52.1 m | 53.9 m | 53.9 m | 52.6 m | 52.9 m | SEC (XBRL)· 16 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 9.6 m | 14.8 m | 24.3 m | 15.2 m | 14.5 m | 8.6 m | SEC (XBRL)· 16 Mar 2026verified |
| Receivables | 24.9 m | 36.3 m | 44.2 m | — | — | — | SEC (XBRL)· 31 Mar 2023verified |
| Inventories | 58.5 m | 102.7 m | 120.3 m | 105.6 m | 97.8 m | 106.6 m | SEC (XBRL)· 16 Mar 2026verified |
| Current assets | 99.0 m | 159.6 m | 197.9 m | 178.8 m | 178.1 m | 194.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Goodwill | 68.5 m | 80.3 m | 85.1 m | 85.1 m | 38.8 m | 0 | SEC (XBRL)· 16 Mar 2026verified |
| Intangibles (excl. goodwill) | 175.8 m | 195.1 m | 194.1 m | 177.8 m | 161.5 m | 151.5 m | SEC (XBRL)· 16 Mar 2026verified |
| Total assets | 490.6 m | 596.9 m | 637.5 m | 596.5 m | 550.0 m | 541.5 m | SEC (XBRL)· 16 Mar 2026verified |
| Accounts payable | 27.3 m | 57.7 m | 55.5 m | — | — | — | SEC (XBRL)· 31 Mar 2023verified |
| Short-term debt | 5.6 m | 5.6 m | 6.3 m | 5.5 m | 5.4 m | 6.7 m | SEC (XBRL)· 16 Mar 2026verified |
| Long-term debt | 88.0 m | 81.8 m | 115.4 m | 108.7 m | 103.3 m | 99.4 m | SEC (XBRL)· 16 Mar 2026verified |
| Current liabilities | 79.7 m | 155.3 m | 163.9 m | 143.3 m | 145.2 m | 164.8 m | SEC (XBRL)· 16 Mar 2026verified |
| Total liabilities | 227.1 m | 302.0 m | 341.3 m | 308.5 m | 308.7 m | 337.9 m | SEC (XBRL)· 16 Mar 2026verified |
| Equity | 263.5 m | 294.3 m | 296.2 m | 288.0 m | 241.3 m | 203.6 m | SEC (XBRL)· 16 Mar 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 45.7 m | 17.5 m | 35.4 m | -1.6 m | 22.6 m | 25.5 m | SEC (XBRL)· 16 Mar 2026verified |
| Capex | 664.0 k | 2.2 m | 6.3 m | 3.5 m | 12.5 m | 18.9 m | SEC (XBRL)· 16 Mar 2026verified |
| Free cash flow | 45.0 m ≈ | 15.3 m ≈ | 29.1 m ≈ | -5.2 m ≈ | 10.1 m ≈ | 6.6 m ≈ | SEC (XBRL)· 16 Mar 2026derived |
| Investing cash flow | -94.4 m | -41.1 m | -50.8 m | -1.5 m | -12.5 m | -20.4 m | SEC (XBRL)· 16 Mar 2026verified |
| Financing cash flow | 43.8 m | 28.8 m | 24.9 m | -5.9 m | -10.9 m | -10.9 m | SEC (XBRL)· 16 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 43.8% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 80.3 m USD
Key indicators
Coverage and freshness
Score by group
44% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.52 – 2.47 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)0.52 – 2.47 (Mid 1.17)WACC 6.9% · starting FCFF 6.4 m USD · terminal value share of EV 81%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 6.5%
- Peers: EV/EBITDAunavailable · the base of the ratio is not positive
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 43.8% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -9.3% | 0 (vs peers) | 24% |
| Net margin · Quality | -2.8% | 11 (vs peers) | 14% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 1.6% | 14 (on a fixed band) | 19% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -2.9x | 0 (on a fixed band) | 14% |
| Current ratio · Balance sheet | 1.1x | 26 (on a fixed band) | 10% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -4.3% | 0 (on a fixed band) | 19% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet10/100 · 2/3 factors with a value
- Growth· partial14/100 · 1/2 factors with a value
- Quality4/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
HF FOODS GROUP INC. (HFFG). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 1.2 bn USD in 2025; YoY growth 2.2%; net margin -2.8%; ROE -15.5%.
The estimated value range is 0.52–2.47 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 1.17 USD, the price of 1.49 USD leaves a potential of -21.6% (value / price − 1) and a margin of safety of -27.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 43.8% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- ROIC: -9.3%
- Net margin: -2.8%
- Revenue CAGR 3Y: 1.6%
- Interest coverage: -2.9x
- Current ratio: 1.1x
- FCF yield: -4.3%
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Wholesale — nondurable goods (SIC 514x) · same industry group (3-digit SIC) · compared with 9 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SYYSysco Corporation | 37.9 bn | 20.5 | 59.1% | 2.1% | +3.9% | +1% / +7% |
| USFDUs Foods Holding Corp. | 23.8 bn | 33.8 | 16.4% | 1.8% | +4.1% | +40% / +151% |
| PFGCPerformance Food Group Company | 17.3 bn | 43.7 | 8.2% | 0.6% | +7.2% | +13% / +68% |
| DPZDomino’s Pizza, Inc. | 11.2 bn | 19.3 | — | 11.9% | +5.0% | −19% / −13% |
| CHEFChefs’ Warehouse, Inc. | 4.6 bn | 46.5 | 16.2% | 2.3% | +9.4% | +74% / +297% |
| UNFIUnited Natural Foods, Inc. | 2.9 bn | 36.0 | 5.3% | 0.3% | −2.0% | +29% / +232% |
| HFFGHf Foods Group Inc. | 80.3 m | — | -15.5% | -2.8% | +2.2% | −34% / −64% |
| DITAmcon Distributing Co | 59.4 m | 33.1 | 1.6% | 0.1% | +3.9% | −19% / −48% |
| RAVERave Restaurant Group, Inc. | 31.1 m | 11.0 | 18.3% | 22.3% | +7.2% | −31% / −4% |
| MWYNMarwynn Holdings, Inc. | 27.7 m | — | -54.7% | -24.7% | +427.5% | +59% / unavailable |
1- and 3-year price returns: for HFFG from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
HF Foods Group distributes fresh produce, frozen and dry food and non-food products to Asian restaurants and other foodservice customers across the United States. The company is reporting growing revenue while it executes an operational transformation plan and expands through acquisitions, including a planned Canadian deal, in a fragmented market exposed to volatile costs such as tariffs and fuel. Net revenue reached 1228.3 million USD in fiscal 2025 1, and 323.8 million USD in the second quarter of 2026 3.
SWOT
Strengths
- The company has a national distribution network with its own centers and fleet, allowing frequent and efficient delivery to independent restaurants across most US states 1.
- The specialized Asian product assortment is hard for large distributors to match, and supplier relationships give it negotiating position 1.
Weaknesses
- Gross margins are thin, and a shift in sales mix toward lower-margin categories has pressured financial results 1.
- The company reported a net loss in fiscal 2025, influenced by impairment charges, and results remain sensitive to unexpected costs 1.
- Operations are concentrated entirely in the United States, which exposes the company to conditions in that single economy 1.
Opportunities
- Growth in the Asian population and demand for Asian cuisine could support higher volumes for the restaurants it serves 1.
- The acquisition strategy, including the announced purchase of a Canadian seafood importer, could extend the geographic footprint and assortment 3.
- Cross-selling in the Southeast and Midwest and completion of the transformation plan could improve efficiency and margins 23.
Threats
- Tariffs and trade policy uncertainty can raise acquisition costs and could lead customers to reduce orders 1.
- Larger competitors with more resources could expand their Asian assortment and draw away the company's customers 1.
- Fuel price swings and a shortage of qualified labor could affect costs and service quality 1.
Risks
- Thin margins and inflationhigh
The industry operates on low margins, and if food cost increases cannot be passed on to customers in time, results could be affected 1.
- Trade policyhigh
Tariffs and changes in trade policy could raise costs and disrupt supply chains, and uncertainty over refunds could change the cost structure 12.
- Geographic concentrationmedium
Operations solely in the United States leave the company exposed to any national economic slowdown that could reduce restaurant spending 1.
- Labor availabilitymedium
A shortage of qualified staff and rising wages could reduce the company's ability to serve customers and maintain margins 1.
- Acquisition integrationmedium
Integrating the announced Canadian business and expanding abroad carry execution and unexpected cost risks that could delay expected benefits 3.
Investment thesis
What would need to be true (bull case)
- The company has reported revenue growth for six consecutive quarters, and the transformation plan could improve margins as its programs expand 23.
- Its niche position in Asian food distribution, combined with a national network, could offer advantages that smaller or more generalist rivals find hard to replicate 1.
- Acquisitions and entry into the Canadian market could widen the customer base and assortment if integration proceeds as planned 3.
What would break the thesis
- Gross margins have declined, and continued tariff and transport cost pressure could keep limiting profitability 12.
- The company reported annual net losses, and if impairments or unexpected costs recur, its financial position could remain fragile 1.
- Larger competitors could expand their Asian offerings and erode the company's edge if their pricing becomes more aggressive 1.
What to watch
- Gross margin trend and the effect of tariff refundsQ3 2026
- Completion and integration of the Searay Foods acquisition in Canada2026
- Results of the transformation plan and cross-selling in the Southeast and Midwest2026
- Impact of trade policy and the Supreme Court decision on costsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
HF Foods Group Inc., headquartered in Las Vegas, Nevada, is a marketer and distributor of food products to Asian restaurants and other foodservice customers across the United States 1. The company runs a national distribution platform of sixteen distribution centers and four cross-docks, a fleet of over 400 vehicles and about 15000 customer locations 1. Its model rests on cultural and language understanding of the Asian restaurant community, long-standing supplier relationships and a centralized call center in China 1.
The company says it differs from large distributors such as Sysco, US Foods and Performance Food Group through its assortment of Asian specialty products and sourcing tailored to independent restaurants 1. Management intends to broaden its customer base over time into other ethnic and specialty foodservice segments 1. In December 2025 the company opened a new distribution center in Powder Springs, Georgia, near Atlanta 1.
Beyond distribution, the company launched an operational transformation plan starting in 2024 covering centralized purchasing, fleet management, digital transformation through a new ERP system and facility upgrades 2. Net loss attributable to shareholders was 38.8 million USD in 2025, largely driven by goodwill impairment charges 13.
Segments
Seafood
Seafood, from lobster and shrimp to tuna and Alaskan salmon, is the largest sales category at 36% of 2025 sales 1. Volume growth and better pricing in this category supported revenue in the second quarter of 2026 2.
Market context
The company serves the United States foodservice market, particularly Asian restaurants, a segment management describes as highly fragmented with many small distributors 1. Competition is intense, with national and regional distributors holding greater resources, although they still offer a limited selection of Asian products 1.
According to the company, demand for Asian cuisine is growing in the United States and the Asian population is the fastest-growing group, which could support expansion of Asian restaurants 1. Industry margins remain thin, however, and volatile food and fuel costs could affect results if they cannot be passed on to customers 1.
Trends
- Rising demand for Asian cuisinetailwind
Management points to growing demand for Asian cuisine and a growing Asian population in the United States, which could open further opportunities among the restaurants it serves 1.
- Restaurant consumptionmixed
Spending on food away from home has stayed resilient after the pandemic, and the company expects demand from Asian operators to remain solid, although consumers could reduce visits if food inflation rises 1.
- Tariffs and trade policyheadwind
Tariffs raised acquisition costs, and gross margin in the second quarter of 2026 was hit by added tariffs, partly offset by IEEPA tariff refunds 2. The February 2026 Supreme Court decision creates uncertainty over refunds and future policy that could change the cost structure 1.
- Fuel costsheadwind
Elevated fuel costs raised distribution expenses in the second quarter of 2026, and the company may not be able to pass all of these costs on to customers 21.
Competitive position
The company faces competition from smaller, dispersed distributors focused on the niche of Asian restaurants, especially takeout operators 1. Main potential rivals include national and regional foodservice distributors with greater marketing and financial resources, along with local wholesalers and brokers 1.
The company names Sysco, US Foods and Performance Food Group as large mainstream distributors, but considers that they offer only a limited Asian assortment and serve independent restaurants differently 1. If more competitors entered this niche, margins and market share could be affected 1.
- Sysco CorporationSYY
Large foodservice distributor named by the company as a mainstream benchmark, with a limited Asian assortment.
- US Foods Holding Corp.USFD
National foodservice distributor named among large mainstream competitors.
- Performance Food Group CompanyPFGC
National foodservice distributor named among large mainstream competitors.
- Local wholesalers and brokers
Small firms with a deep understanding of local preferences but limited scale and growth potential, according to the company.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report02 Oct 2026Departure or appointment of officers · Financial statements and exhibits
- Current report18 Sept 2026Termination of a material agreement · Regulation FD disclosure · Financial statements and exhibits
- Current report03 Sept 2026Acquisition or disposition of assets · Creation of a direct financial obligation · Other events · Financial statements and exhibits
- Quarterly report10 Aug 2026
- Current report10 Aug 2026Results of operations · Financial statements and exhibits
- Current report31 Jul 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report23 Jul 2026Material agreement · Item 3.02 · Other events · Financial statements and exhibits
- Current report22 Jun 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report12 Jun 2026Material agreement · Item 3.03 · Amendments to articles or bylaws · Financial statements and exhibits
- Current report12 Jun 2026Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / HF Foods Group Inc. · 16 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / HF Foods Group Inc. · 10 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / HF Foods Group Inc. · 10 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.