Quality Investor

UniFirst Corporation

Rank #206Value

UNF · NYSE · Industrials

UniFirst Corporation (UNF) — Rank #206 by gross profitability (GP/assets 0.32) · ROE 6.7% · Piotroski F-Score N/A.

As-of 2026-09-28 · CIK 0000717954 · all metrics point-in-time as of the filing date.

About

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada.

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It operates in three segments: Uniform & Facility Service Solutions; First Aid & Safety Solutions; and Other. The company offers uniforms, including shirts, pants, jackets, coveralls, lab coats, smocks, and aprons; specialized protective wear comprising flame resistant and high visibility garments; and first aid cabinet services and other safety supplies, as well as safety training services. It also engages in the rent and sale of non-garment items and services that include industrial wiping products, floor mats, dry and wet mops, and other textile products, as well as the wholesale distribution and pill packaging operations for non-prescription medicines. In addition, the company provides garment service options, including full-service rental and lease programs. Further, it offers restroom and cleaning supplies, such as air fresheners, paper products, gloves, masks, hand soaps, and sanitizers. Additionally, it provides specialized services, including decontamination and cleaning of work clothes and other items that have been exposed to radioactive materials and services special cleanroom protective wear. The company serves automobile service centers and dealers, delivery services, food and general merchandise retailers, manufacturers, maintenance facilities, restaurants and food-related businesses, business service companies, soft and durable goods wholesalers, transportation companies, energy producing operations, and healthcare providers, as well as others that require employee clothing on the job for image, identification, protection, or utility purposes.

UniFirst Corporation was founded in 1936 and is headquartered in Wilmington, Massachusetts.

Industry
Specialty Business Services
Sector
Industrials
State
MA
Filer Category
Large accelerated filer
Fiscal Year End
August 29

Company Snapshot

P/E and dividend yield are the primary valuation lenses for mature businesses.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

16,000

Industry

Specialty Business Services

Exchange

NYSE

Signal Flags

2 green
Operating leverage expandingOperating income growing faster than revenue
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 3-quarter streak

Quality Profile

Profitability

1/1 pass
GP / assets
0.32
Return on equity
6.7%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.28
Current ratio
3.11×
Net cash
$168.88M

Cash Flow

2/3 pass
Positive FCF
PASS
Cash-backed earnings
WARN
Accruals healthy
PASS
SBC / revenue
0.5%

Growth

2/2 pass
Revenue growth
0.2%
Piotroski F-Score
N/A
Share dilution
-0.8%

Terry Smith quality gate

Passes 1/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

Dividend yield and payout ratio are the primary reads at this stage (trailing P/E — see valuation above).

Profitability

Gross profitability (GP / assets)

0.32

Primary signal (Novy-Marx).

Return on equity

6.7%

Gross margin

36.6%

Revenue growth (YoY)

0.2%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

6.7%

Revenue CAGR (5Y)

6.2%

Earnings CAGR (3Y)

12.8%

FCF CAGR (3Y)

—

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.28

Current ratio

3.11×

Quick ratio

1.57×

Net cash

$168.88M

Cash & equivalents minus total debt.

Recession resistance

Revenue through recessions

Worst single-year YoY revenue decline, 17 years of history

Moderate
2008-2009 (GFC)
N/AN/A
2020 (COVID)
-0.3%Mild decline
Worst year on record(any fiscal year, not recession-limited)
-0.3%Mild decline

Cash-flow health

Free cash flow

$142.53M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

-0.04

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

WARN

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

0.5%

Stock-based comp intensity.

Dividend safety

Composite score

4.2 / 5

Strong
Payout ratio
16.6%5/5 Strong
FCF coverage
5.79×5/5 Strong
Dividend growth streak
10 yr5/5 Strong
Balance-sheet health
D/E 0.28 · IC N/A2/5 Fair

Piotroski F-Score

F-Score

N/A

Only 8/9 components determinable.

Lifecycle Phase History

20202025
Value
Capital Return