NASDAQ : VFF
Village Farms International, Inc. — Financial statements
Consumer Staples · Farm Products · United States
Last price 2.5 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 305.72M
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Financial statements
Village Farms International, Inc. (VFF) reported revenue of 230.57M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 230.57M | 215.94M | 195.91M | 163.11M | 293.57M | 268.02M |
| Cost of Revenue | 128.45M | 128.25M | 150.11M | 115.16M | 266.07M | 214.33M |
| Gross Profit | 102.12M | 87.68M | 45.80M | 47.95M | 27.50M | 53.69M |
| Selling, General & Admin | 65.02M | 60.29M | 61.75M | 56.71M | 72.27M | 61.45M |
| Operating Expenses | 65.02M | 60.29M | 61.75M | 56.71M | 72.27M | 61.45M |
| Operating Income | 37.10M | 27.39M | -15.95M | -8.76M | -44.77M | -7.76M |
| Interest Expense | -2.19M | -2.70M | -3.37M | -4.50M | -3.24M | -2.83M |
| Interest & Investment Income | 1.93M | 1.16M | 914.00K | 1.02M | 207.00K | 126.00K |
| Earnings From Equity Investments | -2.67M | -308.00K | ||||
| Currency Exchange Gain (Loss) | -1.30M | 1.55M | -2.84M | 602.00K | -2.25M | -476.00K |
| Other Non Operating Income (Expenses) | -437.00K | 4.17M | 4.01M | 32.00K | -115.00K | -420.00K |
| EBT Excluding Unusual Items | 35.11M | 31.58M | -17.23M | -11.61M | -52.84M | -11.67M |
| Merger & Restructuring Charges | -980.00K | |||||
| Impairment of Goodwill | -10.04M | -11.30M | -38.67M | |||
| Asset Writedown | -217.00K | -217.00K | -2.34M | -2.72M | -4.63M | |
| Other Unusual Items | -592.00K | |||||
| Pretax Income | 34.89M | 31.36M | -29.60M | -25.62M | -96.73M | -12.65M |
| Income Tax Expense | 11.81M | 10.37M | -1.66M | 7.45M | 4.68M | -3.53M |
| Earnings From Continuing Operations | 23.08M | 20.99M | -27.94M | -33.08M | -101.42M | -9.12M |
| Earnings From Discontinued Operations | -174.00K | 11.12M | -7.70M | -1.74M | ||
| Net Income to Company | 22.90M | 32.10M | -35.64M | -34.82M | -101.42M | -9.12M |
| Minority Interest in Earnings | -195.00K | 336.00K | -207.00K | 21.00K | 269.00K | 46.00K |
| Net Income | 22.71M | 32.44M | -35.85M | -34.80M | -101.15M | -9.08M |
| Net Income to Common | 22.71M | 32.44M | -35.85M | -34.80M | -101.15M | -9.08M |
| Shares Outstanding (Basic) | 114.98M | 113.28M | 111.37M | 108.73M | 89.13M | 82.16M |
| Shares Outstanding (Diluted) | 125.15M | 118.55M | 111.37M | 108.73M | 89.13M | 82.16M |
| EPS (Basic) | 0.20 | 0.29 | -0.32 | -0.32 | -1.13 | -0.11 |
| EPS (Diluted) | 0.18 | 0.27 | -0.32 | -0.32 | -1.13 | -0.11 |
| Free Cash Flow | -2.00M | 31.50M | 3.18M | 1.71M | -34.18M | -61.22M |
| Free Cash Flow Per Share | -0.02 | 0.27 | 0.03 | 0.02 | -0.38 | -0.74 |
| Gross Margin | 44.29% | 40.61% | 23.38% | 29.40% | 9.37% | 20.03% |
| Operating Margin | 16.09% | 12.68% | -8.14% | -5.37% | -15.25% | -2.90% |
| Profit Margin | 9.85% | 15.02% | -18.30% | -21.33% | -34.45% | -3.39% |
| Free Cash Flow Margin | -0.87% | 14.59% | 1.62% | 1.05% | -11.64% | -22.84% |
| EBITDA | 53.65M | 43.77M | 776.00K | 5.33M | -31.71M | 5.87M |
| EBITDA Margin | 23.27% | 20.27% | 0.40% | 3.27% | -10.80% | 2.19% |
| D&A For EBITDA | 16.55M | 16.38M | 16.72M | 14.09M | 13.05M | 13.62M |
| EBIT | 37.10M | 27.39M | -15.95M | -8.76M | -44.77M | -7.76M |
| EBIT Margin | 16.09% | 12.68% | -8.14% | -5.37% | -15.25% | -2.89% |
| Effective Tax Rate | 33.86% | 33.07% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 72.93M | 81.19M | 24.63M | 30.29M | 16.68M | 53.42M |
| Cash & Short-Term Investments | 72.93M | 81.19M | 24.63M | 30.29M | 16.68M | 53.42M |
| Accounts Receivable | 32.41M | 23.15M | 22.16M | 30.56M | 27.56M | 34.36M |
| Other Receivables | 1.40M | 324.00K | 247.00K | 294.00K | 7.21M | 3.05M |
| Receivables | 33.80M | 23.48M | 22.41M | 30.86M | 34.77M | 37.41M |
| Inventory | 46.67M | 41.52M | 41.26M | 78.47M | 70.58M | 68.68M |
| Prepaid Expenses | 6.92M | 3.19M | 2.81M | 7.15M | 5.96M | 10.21M |
| Restricted Cash | 5.06M | 5.00M | 5.00M | 5.25M | ||
| Other Current Assets | 24.92M | |||||
| Total Current Assets | 160.33M | 154.44M | 116.02M | 151.77M | 132.98M | 174.96M |
| Property, Plant & Equipment | 195.45M | 189.78M | 179.60M | 218.21M | 216.83M | 223.31M |
| Long-Term Investments | 6.28M | 6.28M | 2.66M | 2.66M | 2.11M | 2.11M |
| Goodwill | 42.77M | 44.37M | 42.31M | 55.92M | 66.22M | 117.53M |
| Other Intangible Assets | 21.14M | 23.65M | 25.11M | 32.27M | 37.16M | 26.39M |
| Long-Term Deferred Tax Assets | 564.00K | 694.00K | 1.00M | 1.20M | 4.20M | 16.77M |
| Other Long-Term Assets | 1.94M | 3.90M | 22.61M | 1.96M | 5.78M | 2.58M |
| Total Assets | 428.47M | 423.10M | 389.31M | 463.99M | 465.29M | 566.91M |
| Accounts Payable | 17.59M | 15.75M | 11.25M | 21.75M | 24.89M | 22.60M |
| Accrued Expenses | 23.77M | 22.66M | 18.74M | 32.79M | 26.72M | 20.16M |
| Short-Term Debt | 4.00M | 4.00M | 7.53M | 7.76M | ||
| Current Portion of Long-Term Debt | 5.25M | 4.88M | 8.14M | 9.13M | 9.65M | 11.42M |
| Current Portion of Leases | 1.17M | 1.20M | 1.06M | 2.11M | 1.97M | 962.00K |
| Current Income Taxes Payable | 12.15M | 51.00K | 28.00K | |||
| Other Current Liabilities | 2.84M | 1.95M | 18.97M | 2.34M | 1.46M | 1.41M |
| Total Current Liabilities | 50.61M | 58.59M | 62.22M | 72.16M | 72.22M | 64.31M |
| Long-Term Debt | 34.71M | 28.77M | 32.42M | 38.92M | 43.82M | 50.42M |
| Long-Term Leases | 5.06M | 3.85M | 4.20M | 11.34M | 7.79M | 6.71M |
| Long-Term Deferred Tax Liabilities | 17.33M | 18.49M | 19.94M | 23.73M | 19.76M | 18.66M |
| Other Long-Term Liabilities | 2.11M | 3.33M | 6.57M | 1.90M | 1.71M | 1.97M |
| Total Liabilities | 109.82M | 113.03M | 125.35M | 148.05M | 145.29M | 142.07M |
| Common Stock | 407.03M | 392.38M | 387.35M | 386.72M | 372.43M | 365.56M |
| Additional Paid-In Capital | 24.93M | 29.37M | 30.60M | 25.61M | 13.37M | 9.37M |
| Retained Earnings | -102.51M | -112.58M | -145.02M | -109.17M | -74.37M | 26.78M |
| Comprehensive Income & Other | -17.25M | -9.28M | -18.93M | -3.54M | -8.37M | 6.70M |
| Total Common Equity | 312.20M | 299.90M | 254.00M | 299.62M | 303.06M | 408.40M |
| Minority Interest | 6.45M | 10.16M | 9.95M | 16.32M | 16.93M | 16.43M |
| Shareholders' Equity | 318.65M | 310.06M | 263.96M | 315.94M | 319.99M | 424.84M |
| Total Liabilities & Equity | 428.47M | 423.10M | 389.31M | 463.99M | 465.29M | 566.91M |
| Total Debt | 46.19M | 38.71M | 49.82M | 65.50M | 70.75M | 77.27M |
| Net Cash (Debt) | 26.74M | 42.48M | -25.19M | -35.21M | -54.08M | -23.85M |
| Net Cash Per Share | 0.21 | 0.36 | -0.23 | -0.32 | -0.61 | -0.29 |
| Filing Date Shares Outstanding | 122.29M | 115.10M | 112.34M | 110.25M | 110.24M | 88.44M |
| Total Common Shares Outstanding | 121.84M | 115.72M | 112.34M | 110.25M | 91.79M | 88.23M |
| Working Capital | 109.72M | 95.85M | 53.80M | 79.61M | 60.77M | 110.65M |
| Book Value Per Share | 2.56 | 2.59 | 2.26 | 2.72 | 3.30 | 4.63 |
| Tangible Book Value | 248.29M | 231.89M | 186.59M | 211.43M | 199.68M | 264.48M |
| Tangible Book Value Per Share | 2.04 | 2.00 | 1.66 | 1.92 | 2.18 | 3.00 |
| Land | 13.65M | 14.04M | 13.45M | 14.64M | 13.41M | 14.10M |
| Buildings | 188.28M | 188.46M | 180.09M | 217.38M | 214.15M | 184.44M |
| Machinery | 59.29M | 58.67M | 55.64M | 86.67M | 82.40M | 79.07M |
| Construction In Progress | 31.46M | 22.41M | 10.97M | 13.62M | 10.03M | 39.21M |
| Leasehold Improvements | 9.20M | 9.39M | 8.80M | 5.53M | 5.37M | 5.22M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 22.71M | 32.44M | -35.85M | -34.80M | -101.15M | -9.08M |
| Depreciation & Amortization | 16.55M | 16.38M | 16.72M | 14.09M | 13.05M | 13.62M |
| Other Amortization | 208.00K | 116.00K | 10.00K | 136.00K | 214.00K | 300.00K |
| Loss (Gain) From Sale of Assets | 87.00K | 259.00K | ||||
| Asset Writedown & Restructuring Costs | 11.94M | 14.02M | 43.30M | |||
| Loss (Gain) on Equity Investments | 2.67M | 308.00K | ||||
| Stock-Based Compensation | 2.14M | 1.74M | 3.75M | 3.11M | 3.99M | 7.53M |
| Other Operating Activities | 1.05M | -12.42M | 17.26M | 9.82M | 22.30M | -5.36M |
| Change in Accounts Receivable | -3.75M | -3.75M | -3.48M | -2.15M | 3.31M | -9.91M |
| Change in Inventory | 1.14M | 1.14M | 8.46M | -5.01M | -14.58M | -16.76M |
| Change in Accounts Payable | 6.70M | 6.70M | 1.43M | -1.73M | 6.70M | 6.33M |
| Change in Income Taxes | 11.99M | 11.99M | 25.00K | 3.58M | ||
| Change in Other Net Operating Assets | -30.87M | 3.77M | -6.54M | 6.58M | -286.00K | -26.80M |
| Operating Cash Flow | 26.39M | 49.72M | 10.35M | 5.32M | -19.89M | -39.57M |
| Capital Expenditures | -28.39M | -18.22M | -7.17M | -3.60M | -14.29M | -21.66M |
| Cash Acquisitions | -5.87M | -40.69M | ||||
| Sale (Purchase) of Intangibles | -395.00K | -395.00K | -158.00K | |||
| Investment in Securities | -548.00K | -1.13M | ||||
| Other Investing Activities | 38.71M | -2.91M | -2.08M | -734.00K | ||
| Investing Cash Flow | -28.79M | 20.10M | -10.24M | -6.23M | -20.90M | -63.47M |
| Long-Term Debt Issued | 19.30M | 7.32M | 19.67M | |||
| Short-Term Debt Repaid | -15.50M | |||||
| Long-Term Debt Repaid | -27.16M | -5.71M | -9.28M | -9.71M | -9.47M | |
| Total Debt Repaid | -24.99M | -27.16M | -5.71M | -9.28M | -9.71M | -24.97M |
| Net Debt Issued (Repaid) | 3.25M | -7.87M | -5.71M | -9.28M | -2.39M | -5.30M |
| Issuance of Common Stock | 20.21M | 5.03M | 24.86M | 7.09M | 153.69M | |
| Repurchase of Common Stock | -9.76M | -2.97M | -5.00M | |||
| Other Financing Activities | -2.53M | -4.55M | -3.82M | -1.44M | -206.00K | -7.51M |
| Financing Cash Flow | 11.18M | -10.35M | -9.53M | 14.14M | 4.50M | 135.88M |
| Foreign Exchange Rate Adjustments | -838.00K | 2.15M | -1.24M | 394.00K | -699.00K | 142.00K |
| Net Cash Flow | 7.94M | 61.62M | -10.66M | 13.62M | -36.99M | 32.99M |
| Free Cash Flow | -2.00M | 31.50M | 3.18M | 1.71M | -34.18M | -61.22M |
| Free Cash Flow Margin | -0.87% | 14.59% | 1.62% | 1.05% | -11.64% | -22.84% |
| Free Cash Flow Per Share | -0.02 | 0.27 | 0.03 | 0.02 | -0.38 | -0.74 |
| Levered Free Cash Flow | 3.51M | 36.68M | 23.28M | 4.12M | -12.92M | -47.68M |
| Unlevered Free Cash Flow | 4.87M | 38.37M | 25.38M | 6.93M | -10.89M | -45.91M |
| Cash Interest Paid | 1.92M | 2.78M | 4.20M | 4.70M | 3.42M | 3.31M |
| Cash Income Tax Paid | 93.00K | 93.00K | 1.80M | |||
| Change in Working Capital | -14.79M | 19.86M | -97.00K | 1.25M | -4.86M | -47.15M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 325.89M | 421.64M | 86.61M | 83.89M | 121.74M | 565.71M |
| Enterprise Value | 299.15M | 388.26M | 127.72M | 131.12M | 192.20M | 557.68M |
| Last Close Price | 2.50 | 3.65 | 0.77 | 0.76 | 1.34 | 6.42 |
| PE Ratio | 15.01 | 13.00 | ||||
| Forward PE | 12.28 | 14.82 | 32.78 | 32.78 | 32.78 | 47.56 |
| PS Ratio | 1.33 | 1.95 | 0.44 | 0.51 | 0.41 | 2.11 |
| PB Ratio | 0.98 | 1.36 | 0.33 | 0.27 | 0.38 | 1.33 |
| P/TBV Ratio | 1.23 | 1.82 | 0.46 | 0.40 | 0.61 | 2.14 |
| P/FCF Ratio | 13.38 | 27.25 | 49.03 | |||
| P/OCF Ratio | 11.58 | 8.48 | 8.37 | 15.78 | ||
| PEG Ratio | 0.71 | 1.64 | 1.64 | 1.64 | 1.64 | 2.38 |
| EV/Sales Ratio | 1.21 | 1.80 | 0.65 | 0.80 | 0.66 | 2.08 |
| EV/EBITDA Ratio | 5.20 | 8.87 | 164.59 | 24.61 | 95.05 | |
| EV/EBIT Ratio | 7.52 | 14.18 | ||||
| EV/FCF Ratio | 12.32 | 40.18 | 76.63 | |||
| Debt / Equity Ratio | 0.14 | 0.12 | 0.19 | 0.21 | 0.22 | 0.18 |
| Debt / EBITDA Ratio | 0.84 | 0.86 | 20.59 | 6.42 | 8.79 | |
| Debt / FCF Ratio | 1.23 | 15.67 | 38.28 | |||
| Net Debt / Equity Ratio | -0.08 | -0.14 | 0.10 | 0.11 | 0.17 | 0.06 |
| Net Debt / EBITDA Ratio | -0.50 | -0.97 | 32.46 | 6.61 | -1.71 | 4.07 |
| Net Debt / FCF Ratio | 13.38 | -1.35 | 7.92 | 20.58 | -1.58 | -0.39 |
| Asset Turnover | 0.55 | 0.53 | 0.46 | 0.35 | 0.57 | 0.58 |
| Inventory Turnover | 2.98 | 3.10 | 2.51 | 1.54 | 3.82 | 3.72 |
| Quick Ratio | 2.11 | 1.79 | 0.76 | 0.85 | 0.71 | 1.41 |
| Current Ratio | 3.17 | 2.64 | 1.86 | 2.10 | 1.84 | 2.72 |
| Return on Equity (ROE) | 7.53% | 7.31% | -9.64% | -10.40% | -27.23% | -2.90% |
| Return on Assets (ROA) | 5.57% | 4.21% | -2.34% | -1.18% | -5.42% | -1.05% |
| Return on Invested Capital (ROIC) | 8.38% | 6.59% | -4.98% | -2.42% | -10.88% | -2.16% |
| Return on Capital Employed (ROCE) | 9.80% | 7.50% | -4.90% | -2.20% | -11.40% | -1.50% |
| Earnings Yield | 6.66% | 7.69% | -41.39% | -41.48% | -83.08% | -1.60% |
| FCF Yield | -0.65% | 7.47% | 3.67% | 2.04% | -28.08% | -10.82% |
| Buyback Yield / Dilution | -11.38% | -6.44% | -2.43% | -21.99% | -8.48% | -33.62% |