NASDAQ : VITL
Vital Farms, Inc. — Financial statements
Consumer Staples · Farm Products · United States
Last price 8.67 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 372.22M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Vital Farms, Inc. (VITL) reported revenue of 765.67M 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 | 765.67M | 759.44M | 606.31M | 471.86M | 362.05M | 260.90M |
| Cost of Revenue | 550.35M | 473.76M | 376.38M | 309.53M | 251.60M | 178.00M |
| Gross Profit | 215.33M | 285.68M | 229.93M | 162.33M | 110.45M | 82.90M |
| Selling, General & Admin | 215.00M | 197.31M | 166.37M | 129.07M | 106.15M | 82.85M |
| Operating Expenses | 215.00M | 197.31M | 166.37M | 129.07M | 106.15M | 82.85M |
| Operating Income | 331.00K | 88.37M | 63.55M | 33.25M | 4.30M | 52.00K |
| Interest Expense | -1.03M | -874.00K | -1.01M | -782.00K | -114.00K | -52.00K |
| Interest & Investment Income | 3.47M | 5.01M | 5.25M | 2.54M | 992.00K | 381.00K |
| Other Non Operating Income (Expenses) | -1.03M | -1.26M | -249.00K | -2.63M | -55.00K | -27.00K |
| EBT Excluding Unusual Items | 1.74M | 91.25M | 67.54M | 32.38M | 5.12M | 354.00K |
| Merger & Restructuring Charges | -2.19M | |||||
| Gain (Loss) on Sale of Investments | 1.00K | 13.00K | -1.00K | -182.00K | -96.00K | |
| Pretax Income | 1.74M | 91.26M | 67.54M | 32.20M | 2.83M | 354.00K |
| Income Tax Expense | 1.59M | 24.98M | 14.15M | 6.63M | 1.60M | -2.03M |
| Earnings From Continuing Operations | 156.00K | 66.28M | 53.39M | 25.57M | 1.23M | 2.38M |
| Minority Interest in Earnings | 21.00K | 47.00K | ||||
| Net Income | 156.00K | 66.28M | 53.39M | 25.57M | 1.25M | 2.43M |
| Net Income to Common | 156.00K | 66.28M | 53.39M | 25.57M | 1.25M | 2.43M |
| Shares Outstanding (Basic) | 43.88M | 44.59M | 42.85M | 41.19M | 40.65M | 40.03M |
| Shares Outstanding (Diluted) | 44.62M | 46.02M | 45.13M | 43.31M | 43.47M | 43.32M |
| EPS (Basic) | 0.00 | 1.49 | 1.25 | 0.62 | 0.03 | 0.06 |
| EPS (Diluted) | 0.00 | 1.44 | 1.18 | 0.59 | 0.03 | 0.06 |
| Free Cash Flow | -126.13M | -48.23M | 36.18M | 39.37M | -18.66M | 971.00K |
| Free Cash Flow Per Share | -2.83 | -1.05 | 0.80 | 0.91 | -0.43 | 0.02 |
| Gross Margin | 28.12% | 37.62% | 37.92% | 34.40% | 30.51% | 31.77% |
| Operating Margin | 0.04% | 11.64% | 10.48% | 7.05% | 1.19% | 0.02% |
| Profit Margin | 0.02% | 8.73% | 8.80% | 5.42% | 0.35% | 0.93% |
| Free Cash Flow Margin | -16.47% | -6.35% | 5.97% | 8.34% | -5.15% | 0.37% |
| EBITDA | 15.71M | 102.89M | 76.64M | 41.18M | 9.74M | 3.59M |
| EBITDA Margin | 2.05% | 13.55% | 12.64% | 8.73% | 2.69% | 1.38% |
| D&A For EBITDA | 15.38M | 14.51M | 13.09M | 7.92M | 5.44M | 3.54M |
| EBIT | 331.00K | 88.37M | 63.55M | 33.25M | 4.30M | 52.00K |
| EBIT Margin | 0.04% | 11.64% | 10.48% | 7.05% | 1.19% | 0.02% |
| Effective Tax Rate | 91.05% | 27.37% | 20.95% | 20.61% | 56.55% | |
| Advertising Expenses | 41.33M | 32.14M | 23.62M | 13.30M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 21.24M | 48.83M | 150.60M | 84.15M | 12.91M | 30.97M |
| Short-Term Investments | 64.52M | 9.69M | 32.67M | 65.81M | 68.62M | |
| Cash & Short-Term Investments | 21.24M | 113.35M | 160.29M | 116.82M | 78.73M | 99.59M |
| Accounts Receivable | 50.70M | 67.85M | 54.34M | 39.70M | 38.90M | 26.94M |
| Other Receivables | 7.75M | 4.53M | 1.81M | |||
| Receivables | 58.44M | 72.38M | 56.15M | 39.70M | 38.90M | 26.94M |
| Inventory | 73.89M | 66.50M | 23.67M | 32.90M | 26.85M | 10.95M |
| Prepaid Expenses | 4.00M | 5.24M | 4.40M | 5.72M | 5.14M | 3.82M |
| Other Current Assets | 5.32M | 5.08M | 1.52M | 394.00K | ||
| Total Current Assets | 162.89M | 262.55M | 246.04M | 195.52M | 149.61M | 141.29M |
| Property, Plant & Equipment | 314.64M | 240.99M | 104.14M | 75.75M | 61.05M | 44.61M |
| Goodwill | 3.86M | 3.86M | 3.86M | 3.86M | 4.00M | 3.86M |
| Long-Term Deferred Tax Assets | 10.54M | 1.78M | 1.40M | |||
| Long-Term Deferred Charges | 9.99M | 9.50M | 3.83M | |||
| Other Long-Term Assets | 163.00K | 62.00K | 62.00K | 46.00K | 189.00K | |
| Total Assets | 502.08M | 518.74M | 359.33M | 275.18M | 214.67M | 189.94M |
| Accounts Payable | 56.21M | 55.14M | 38.58M | 33.48M | 25.97M | 22.52M |
| Accrued Expenses | 53.22M | 54.83M | 31.33M | 24.22M | 18.48M | 13.88M |
| Current Portion of Leases | 37.95M | 10.34M | 7.78M | 6.31M | 2.78M | 327.00K |
| Current Income Taxes Payable | 193.00K | 1.27M | 838.00K | 1.21M | 425.00K | |
| Other Current Liabilities | 1.26M | |||||
| Total Current Liabilities | 147.58M | 121.58M | 78.53M | 65.22M | 47.65M | 37.99M |
| Long-Term Debt | 30.00M | |||||
| Long-Term Leases | 40.30M | 43.15M | 10.93M | 16.25M | 7.92M | |
| Other Long-Term Liabilities | 550.00K | 2.75M | 572.00K | 1.03M | 767.00K | 192.00K |
| Total Liabilities | 218.43M | 167.48M | 90.03M | 82.50M | 56.33M | 38.18M |
| Common Stock | 4.00K | 4.00K | 4.00K | 4.00K | 4.00K | 5.00K |
| Additional Paid-In Capital | 166.83M | 201.82M | 186.18M | 163.32M | 155.72M | 149.00M |
| Retained Earnings | 116.81M | 149.40M | 83.11M | 29.73M | 4.16M | 2.75M |
| Comprehensive Income & Other | 8.00K | 41.00K | 3.00K | -377.00K | -1.55M | -281.00K |
| Total Common Equity | 283.65M | 351.26M | 269.30M | 192.68M | 158.33M | 151.47M |
| Minority Interest | 290.00K | |||||
| Shareholders' Equity | 283.65M | 351.26M | 269.30M | 192.68M | 158.33M | 151.76M |
| Total Liabilities & Equity | 502.08M | 518.74M | 359.33M | 275.18M | 214.67M | 189.94M |
| Total Debt | 108.25M | 53.49M | 18.71M | 22.56M | 10.69M | 327.00K |
| Net Cash (Debt) | -87.01M | 59.86M | 141.58M | 94.25M | 68.03M | 99.26M |
| Net Cash Per Share | -1.95 | 1.30 | 3.14 | 2.18 | 1.57 | 2.29 |
| Filing Date Shares Outstanding | 42.93M | 44.80M | 44.26M | 41.80M | 40.75M | 40.53M |
| Total Common Shares Outstanding | 42.93M | 44.80M | 44.04M | 41.68M | 40.75M | 40.49M |
| Working Capital | 15.31M | 140.97M | 167.51M | 130.30M | 101.96M | 103.30M |
| Book Value Per Share | 6.61 | 7.84 | 6.11 | 4.62 | 3.89 | 3.74 |
| Tangible Book Value | 279.80M | 347.40M | 265.44M | 188.82M | 154.33M | 147.61M |
| Tangible Book Value Per Share | 6.52 | 7.76 | 6.03 | 4.53 | 3.79 | 3.65 |
| Land | 11.04M | 10.66M | 11.20M | 552.00K | 552.00K | 525.00K |
| Buildings | 44.06M | 40.40M | 30.61M | 30.53M | 29.67M | 14.21M |
| Machinery | 78.89M | 50.49M | 42.77M | 36.17M | 27.63M | 16.72M |
| Construction In Progress | 103.10M | 77.82M | 14.46M | 3.00M | 3.31M | 21.16M |
| Leasehold Improvements | 7.00K | 491.00K | 491.00K | 492.00K | 919.00K | 830.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 156.00K | 66.28M | 53.39M | 25.57M | 1.25M | 2.43M |
| Depreciation & Amortization | 15.38M | 14.51M | 13.09M | 7.92M | 5.44M | 3.54M |
| Other Amortization | 1.48M | 85.00K | 60.00K | |||
| Loss (Gain) From Sale of Investments | -1.50M | -1.26M | 110.00K | 348.00K | 711.00K | 1.30M |
| Stock-Based Compensation | 7.88M | 12.39M | 10.27M | 7.42M | 6.04M | 4.44M |
| Other Operating Activities | 17.30M | 18.02M | 4.12M | 7.16M | 2.63M | -2.24M |
| Change in Accounts Receivable | -13.50M | -13.50M | -14.79M | -862.00K | -13.86M | -6.08M |
| Change in Inventory | -47.79M | -47.79M | 8.93M | -6.44M | -15.57M | 1.73M |
| Change in Accounts Payable | 16.93M | 16.93M | 5.81M | 6.67M | 2.35M | 6.80M |
| Change in Income Taxes | -980.00K | -980.00K | -368.00K | 782.00K | 624.00K | 1.35M |
| Change in Other Net Operating Assets | -12.07M | -30.97M | -15.80M | 2.35M | 2.28M | 4.41M |
| Operating Cash Flow | -16.71M | 33.72M | 64.82M | 50.91M | -8.10M | 17.68M |
| Capital Expenditures | -109.42M | -81.95M | -28.65M | -11.54M | -10.56M | -16.71M |
| Sale of Property, Plant & Equipment | 1.26M | 1.74M | 1.00K | 1.06M | 100.00K | |
| Divestitures | 552.00K | |||||
| Investment in Securities | 48.29M | -53.49M | 23.32M | 34.18M | 420.00K | -1.73M |
| Other Investing Activities | -874.00K | -551.00K | -1.70M | -1.86M | ||
| Investing Cash Flow | -60.74M | -134.25M | -7.03M | 22.38M | -10.04M | -18.44M |
| Short-Term Debt Issued | 7.50M | |||||
| Total Debt Issued | 30.00M | 7.50M | ||||
| Short-Term Debt Repaid | -7.50M | |||||
| Long-Term Debt Repaid | -4.48M | -3.52M | -2.25M | -554.00K | -471.00K | |
| Total Debt Repaid | -5.37M | -4.48M | -3.52M | -9.75M | -554.00K | -471.00K |
| Net Debt Issued (Repaid) | 24.63M | -4.48M | -3.52M | -2.25M | -554.00K | -471.00K |
| Issuance of Common Stock | 2.79M | 6.41M | 14.10M | 988.00K | 675.00K | 2.80M |
| Repurchase of Common Stock | -36.95M | -3.16M | -1.51M | -796.00K | ||
| Other Financing Activities | -414.00K | -38.00K | -152.00K | |||
| Financing Cash Flow | -9.53M | -1.23M | 8.65M | -2.05M | 83.00K | 2.18M |
| Net Cash Flow | -86.98M | -101.77M | 66.45M | 71.23M | -18.05M | 1.42M |
| Free Cash Flow | -126.13M | -48.23M | 36.18M | 39.37M | -18.66M | 971.00K |
| Free Cash Flow Margin | -16.47% | -6.35% | 5.97% | 8.34% | -5.15% | 0.37% |
| Free Cash Flow Per Share | -2.83 | -1.05 | 0.80 | 0.91 | -0.43 | 0.02 |
| Levered Free Cash Flow | -98.01M | -23.24M | 38.66M | 30.31M | -18.44M | 1.14M |
| Unlevered Free Cash Flow | -97.45M | -22.78M | 39.23M | 30.80M | -18.36M | 1.18M |
| Cash Interest Paid | 832.00K | 782.00K | 950.00K | 775.00K | 114.00K | 43.00K |
| Cash Income Tax Paid | 14.40M | 24.17M | 16.46M | 5.97M | 99.00K | 102.00K |
| Change in Working Capital | -57.42M | -76.31M | -16.22M | 2.49M | -24.18M | 8.21M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 372.22M | 1.42B | 1.64B | 652.74M | 630.53M | 697.68M |
| Enterprise Value | 459.23M | 1.33B | 1.49B | 572.56M | 546.09M | 600.78M |
| Last Close Price | 8.67 | 31.73 | 37.34 | 15.69 | 15.48 | 17.31 |
| PE Ratio | 2,817.68 | 21.43 | 30.63 | 25.53 | 504.02 | 287.23 |
| Forward PE | 19.32 | 34.60 | 32.02 | 89.58 | ||
| PS Ratio | 0.49 | 1.87 | 2.70 | 1.38 | 1.74 | 2.67 |
| PB Ratio | 1.31 | 4.04 | 6.07 | 3.39 | 3.98 | 4.60 |
| P/TBV Ratio | 1.33 | 4.09 | 6.16 | 3.46 | 4.09 | 4.73 |
| P/FCF Ratio | 45.20 | 16.58 | 718.52 | |||
| P/OCF Ratio | 42.14 | 25.23 | 12.82 | 39.46 | ||
| EV/Sales Ratio | 0.60 | 1.75 | 2.46 | 1.21 | 1.51 | 2.30 |
| EV/EBITDA Ratio | 29.23 | 12.95 | 19.49 | 13.90 | 56.07 | 167.25 |
| EV/EBIT Ratio | 1,387.39 | 15.07 | 23.50 | 17.22 | 127.03 | 11,553.44 |
| EV/FCF Ratio | 41.28 | 14.54 | 618.72 | |||
| Debt / Equity Ratio | 0.38 | 0.15 | 0.07 | 0.12 | 0.07 | 0.00 |
| Debt / EBITDA Ratio | 0.30 | 0.14 | 0.06 | 0.09 | 0.07 | 0.09 |
| Debt / FCF Ratio | 0.52 | 0.57 | 0.34 | |||
| Net Debt / Equity Ratio | 0.31 | -0.17 | -0.53 | -0.49 | -0.43 | -0.65 |
| Net Debt / EBITDA Ratio | 5.54 | -0.58 | -1.85 | -2.29 | -6.99 | -27.63 |
| Net Debt / FCF Ratio | -0.69 | 1.24 | -3.91 | -2.39 | 3.65 | -102.22 |
| Asset Turnover | 1.64 | 1.73 | 1.91 | 1.93 | 1.79 | 1.44 |
| Inventory Turnover | 9.44 | 10.51 | 13.31 | 10.36 | 13.31 | 14.93 |
| Quick Ratio | 0.54 | 1.53 | 2.76 | 2.40 | 2.47 | 3.33 |
| Current Ratio | 1.10 | 2.16 | 3.13 | 3.00 | 3.14 | 3.72 |
| Return on Equity (ROE) | 0.05% | 21.36% | 23.11% | 14.57% | 0.79% | 1.62% |
| Return on Assets (ROA) | 0.04% | 12.58% | 12.52% | 8.49% | 1.33% | 0.02% |
| Return on Invested Capital (ROIC) | 0.01% | 30.63% | 44.43% | 27.98% | 2.62% | 0.11% |
| Return on Capital Employed (ROCE) | 0.10% | 22.30% | 22.60% | 15.80% | 2.60% | 0.00% |
| Earnings Yield | 0.04% | 4.67% | 3.26% | 3.92% | 0.20% | 0.35% |
| FCF Yield | -33.89% | -3.40% | 2.21% | 6.03% | -2.96% | 0.14% |
| Buyback Yield / Dilution | 2.45% | -1.98% | -4.19% | 0.36% | -0.34% | -31.62% |