NASDAQ : WFCF
Where Food Comes From, Inc. — Financial statements
Industrials · Specialty Business Services · United States
Last price 16.43 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 81.82M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Where Food Comes From, Inc. (WFCF) reported revenue of 25.03M 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 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 25.03M | 24.89M | 25.75M | 25.14M | 24.84M | 21.93M |
| Revenue | 25.03M | 24.89M | 25.75M | 25.14M | 24.84M | 21.93M |
| Cost of Revenue | 15.45M | 15.38M | 15.18M | 14.61M | 14.38M | 12.20M |
| Gross Profit | 9.58M | 9.51M | 10.56M | 10.52M | 10.47M | 9.74M |
| Selling, General & Admin | 8.10M | 8.30M | 8.36M | 7.83M | 7.82M | 7.43M |
| Operating Expenses | 8.10M | 8.30M | 8.36M | 7.83M | 7.82M | 7.43M |
| Operating Income | 1.48M | 1.21M | 2.21M | 2.70M | 2.65M | 2.30M |
| Interest Expense | -2.00K | -3.00K | -4.00K | -5.00K | -3.00K | -6.00K |
| Interest & Investment Income | 80.00K | 124.00K | 435.00K | 372.00K | 250.00K | 200.00K |
| Currency Exchange Gain (Loss) | -3.00K | -5.00K | -7.00K | -38.00K | -11.00K | |
| Other Non Operating Income (Expenses) | -340.00K | -41.00K | 345.00K | 1.00K | -57.00K | 2.00K |
| EBT Excluding Unusual Items | 1.22M | 1.28M | 2.98M | 3.06M | 2.80M | 2.49M |
| Gain (Loss) on Sale of Assets | 963.00K | 946.00K | 1.00K | 7.00K | 12.00K | 95.00K |
| Other Unusual Items | 1.04M | |||||
| Pretax Income | 2.18M | 2.23M | 2.98M | 3.06M | 2.82M | 3.62M |
| Income Tax Expense | 731.00K | 693.00K | 859.00K | 913.00K | 822.00K | 659.00K |
| Earnings From Continuing Operations | 1.45M | 1.54M | 2.12M | 2.15M | 1.99M | 2.96M |
| Net Income | 1.45M | 1.54M | 2.12M | 2.15M | 1.99M | 2.96M |
| Net Income to Common | 1.45M | 1.54M | 2.12M | 2.15M | 1.99M | 2.96M |
| Shares Outstanding (Basic) | 5.06M | 5.15M | 5.32M | 5.49M | 5.96M | 6.10M |
| Shares Outstanding (Diluted) | 5.07M | 5.17M | 5.33M | 5.55M | 6.04M | 6.18M |
| EPS (Basic) | 0.29 | 0.30 | 0.40 | 0.39 | 0.33 | 0.49 |
| EPS (Diluted) | 0.29 | 0.30 | 0.40 | 0.39 | 0.33 | 0.48 |
| Free Cash Flow | 1.01M | 1.45M | 2.57M | 2.67M | 2.56M | 2.81M |
| Free Cash Flow Per Share | 0.20 | 0.28 | 0.48 | 0.48 | 0.42 | 0.45 |
| Gross Margin | 38.27% | 38.20% | 41.02% | 41.86% | 42.13% | 44.40% |
| Operating Margin | 5.90% | 4.84% | 8.57% | 10.73% | 10.67% | 10.50% |
| Profit Margin | 5.78% | 6.17% | 8.23% | 8.56% | 8.03% | 13.50% |
| Free Cash Flow Margin | 4.02% | 5.83% | 9.99% | 10.64% | 10.32% | 12.80% |
| EBITDA | 2.13M | 1.86M | 2.85M | 3.33M | 3.42M | 3.10M |
| EBITDA Margin | 8.51% | 7.46% | 11.09% | 13.25% | 13.75% | 14.14% |
| D&A For EBITDA | 651.00K | 650.00K | 647.00K | 634.00K | 765.00K | 799.00K |
| EBIT | 1.48M | 1.21M | 2.21M | 2.70M | 2.65M | 2.30M |
| EBIT Margin | 5.90% | 4.84% | 8.57% | 10.73% | 10.67% | 10.50% |
| Effective Tax Rate | 33.55% | 31.09% | 28.84% | 29.79% | 29.19% | 18.20% |
| Revenue as Reported | 25.03M | 24.89M | 25.75M | 25.14M | 24.84M | 21.93M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.42M | 3.20M | 2.01M | 2.64M | 4.37M | 5.41M |
| Cash & Short-Term Investments | 3.42M | 3.20M | 2.01M | 2.64M | 4.37M | 5.41M |
| Receivables | 2.50M | 1.68M | 1.83M | 2.13M | 2.17M | 2.18M |
| Inventory | 989.00K | 792.00K | 1.00M | 1.11M | 888.00K | 767.00K |
| Prepaid Expenses | 566.00K | 605.00K | 705.00K | 335.00K | 463.00K | 325.00K |
| Total Current Assets | 7.47M | 6.28M | 5.54M | 6.21M | 7.89M | 8.68M |
| Property, Plant & Equipment | 1.05M | 1.15M | 2.80M | 3.14M | 3.60M | 4.12M |
| Long-Term Investments | 200.00K | 200.00K | 1.19M | 1.19M | 991.00K | 991.00K |
| Goodwill | 2.95M | 2.95M | 2.95M | 2.95M | 2.95M | 2.95M |
| Other Intangible Assets | 1.21M | 1.40M | 1.79M | 2.16M | 2.32M | 2.56M |
| Long-Term Deferred Tax Assets | 255.00K | 299.00K | 356.00K | 493.00K | 523.00K | 464.00K |
| Other Long-Term Assets | 438.00K | 633.00K | 673.00K | 139.00K | 23.00K | 23.00K |
| Total Assets | 13.58M | 12.90M | 15.31M | 16.29M | 18.30M | 19.78M |
| Accounts Payable | 669.00K | 451.00K | 468.00K | 567.00K | 640.00K | 447.00K |
| Accrued Expenses | 1.36M | 584.00K | 526.00K | 512.00K | 720.00K | 449.00K |
| Current Portion of Leases | 435.00K | 434.00K | 352.00K | 312.00K | 350.00K | 326.00K |
| Current Income Taxes Payable | 28.00K | 25.00K | 28.00K | 62.00K | 14.00K | 185.00K |
| Current Unearned Revenue | 1.97M | 1.59M | 1.80M | 1.53M | 1.31M | 1.59M |
| Total Current Liabilities | 4.46M | 3.08M | 3.18M | 2.98M | 3.04M | 3.00M |
| Long-Term Leases | 294.00K | 509.00K | 2.19M | 2.49M | 2.78M | 3.04M |
| Total Liabilities | 4.76M | 3.59M | 5.37M | 5.47M | 5.82M | 6.04M |
| Common Stock | 5.00K | 5.00K | 7.00K | 7.00K | 6.00K | 6.00K |
| Additional Paid-In Capital | 137.00K | 23.00K | 11.38M | 12.29M | 12.14M | 11.96M |
| Retained Earnings | 11.56M | 11.06M | 12.01M | 9.74M | 7.59M | 5.59M |
| Treasury Stock | -2.88M | -1.78M | -13.46M | -11.22M | -7.26M | -3.81M |
| Total Common Equity | 8.82M | 9.30M | 9.93M | 10.82M | 12.48M | 13.75M |
| Shareholders' Equity | 8.82M | 9.30M | 9.93M | 10.82M | 12.48M | 13.75M |
| Total Liabilities & Equity | 13.58M | 12.90M | 15.31M | 16.29M | 18.30M | 19.78M |
| Total Debt | 729.00K | 943.00K | 2.55M | 2.80M | 3.13M | 3.37M |
| Net Cash (Debt) | 2.69M | 2.26M | -534.00K | -159.00K | 1.24M | 2.05M |
| Net Cash Per Share | 0.53 | 0.44 | -0.10 | -0.03 | 0.20 | 0.33 |
| Filing Date Shares Outstanding | 4.98M | 5.05M | 5.23M | 5.49M | 5.73M | 5.95M |
| Total Common Shares Outstanding | 4.98M | 5.06M | 5.24M | 5.50M | 5.78M | 6.07M |
| Working Capital | 3.01M | 3.19M | 2.37M | 3.23M | 4.85M | 5.69M |
| Book Value Per Share | 1.77 | 1.84 | 1.89 | 1.97 | 2.16 | 2.26 |
| Tangible Book Value | 4.66M | 4.96M | 5.20M | 5.71M | 7.21M | 8.24M |
| Tangible Book Value Per Share | 0.94 | 0.98 | 0.99 | 1.04 | 1.25 | 1.36 |
| Buildings | 813.00K | 813.00K | 812.00K | 811.00K | 811.00K | |
| Machinery | 729.00K | 754.00K | 716.00K | 719.00K | 658.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.45M | 1.54M | 2.12M | 2.15M | 1.99M | 2.96M |
| Depreciation & Amortization | 651.00K | 650.00K | 647.00K | 634.00K | 765.00K | 799.00K |
| Loss (Gain) From Sale of Assets | -963.00K | -946.00K | -1.00K | -7.00K | -12.00K | -95.00K |
| Stock-Based Compensation | 117.00K | 23.00K | 34.00K | 78.00K | 154.00K | 291.00K |
| Provision & Write-off of Bad Debts | 65.00K | 57.00K | 48.00K | 44.00K | 26.00K | |
| Other Operating Activities | 400.00K | 96.00K | -255.00K | 30.00K | 3.00K | -1.06M |
| Change in Accounts Receivable | -506.00K | 91.00K | 254.00K | -20.00K | 330.00K | |
| Change in Inventory | 123.00K | 210.00K | 107.00K | -221.00K | -121.00K | -767.00K |
| Change in Accounts Payable | -80.00K | -17.00K | -99.00K | -73.00K | 193.00K | -202.00K |
| Change in Unearned Revenue | -483.00K | -203.00K | 263.00K | 207.00K | -235.00K | 381.00K |
| Change in Other Net Operating Assets | 482.00K | 110.00K | -388.00K | -22.00K | -93.00K | 380.00K |
| Operating Cash Flow | 1.25M | 1.61M | 2.73M | 2.82M | 2.65M | 3.02M |
| Capital Expenditures | -247.00K | -155.00K | -159.00K | -148.00K | -89.00K | -213.00K |
| Sale of Property, Plant & Equipment | 210.00K | |||||
| Cash Acquisitions | -300.00K | |||||
| Investment in Securities | 1.84M | 1.84M | -200.00K | |||
| Other Investing Activities | -178.00K | |||||
| Investing Cash Flow | 1.59M | 1.68M | -159.00K | -648.00K | -267.00K | -3.00K |
| Long-Term Debt Repaid | -15.00K | -14.00K | -13.00K | -13.00K | -10.00K | |
| Net Debt Issued (Repaid) | -14.00K | -15.00K | -14.00K | -13.00K | -13.00K | -10.00K |
| Issuance of Common Stock | 20.00K | 80.00K | 84.00K | 68.00K | 36.00K | 52.00K |
| Repurchase of Common Stock | -2.63M | -2.17M | -3.27M | -3.96M | -3.46M | -1.10M |
| Financing Cash Flow | -2.63M | -2.10M | -3.20M | -3.90M | -3.43M | -1.98M |
| Net Cash Flow | 216.00K | 1.19M | -629.00K | -1.73M | -1.05M | 1.04M |
| Free Cash Flow | 1.01M | 1.45M | 2.57M | 2.67M | 2.56M | 2.81M |
| Free Cash Flow Margin | 4.02% | 5.83% | 9.99% | 10.64% | 10.32% | 12.80% |
| Free Cash Flow Per Share | 0.20 | 0.28 | 0.48 | 0.48 | 0.42 | 0.45 |
| Levered Free Cash Flow | 1.16M | 1.55M | 2.10M | 2.18M | 2.25M | 2.43M |
| Unlevered Free Cash Flow | 1.16M | 1.55M | 2.10M | 2.18M | 2.25M | 2.44M |
| Cash Income Tax Paid | 472.00K | 439.00K | 1.24M | 802.00K | 1.08M | 658.00K |
| Change in Working Capital | -464.00K | 191.00K | 137.00K | -109.00K | -276.00K | 122.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 80.87M | 58.74M | 69.87M | 75.12M | 81.47M | 88.65M |
| Enterprise Value | 78.18M | 56.37M | 69.75M | 74.20M | 78.66M | 86.39M |
| Last Close Price | 16.21 | 11.49 | 13.24 | 13.55 | 13.97 | 14.51 |
| PE Ratio | 56.76 | 38.24 | 32.96 | 34.91 | 40.86 | 29.94 |
| Forward PE | 30.65 | 30.65 | 30.65 | 30.65 | 49.00 | |
| PS Ratio | 3.23 | 2.36 | 2.71 | 2.99 | 3.28 | 4.04 |
| PB Ratio | 9.15 | 6.31 | 7.03 | 6.94 | 6.53 | 6.45 |
| P/TBV Ratio | 17.35 | 11.84 | 13.45 | 13.16 | 11.29 | 10.75 |
| P/FCF Ratio | 80.31 | 40.45 | 27.18 | 28.09 | 31.76 | 31.58 |
| P/OCF Ratio | 64.49 | 36.55 | 25.59 | 26.62 | 30.70 | 29.36 |
| PEG Ratio | 0.77 | 0.77 | 0.77 | 0.77 | 0.77 | |
| EV/Sales Ratio | 3.12 | 2.26 | 2.71 | 2.95 | 3.17 | 3.94 |
| EV/EBITDA Ratio | 36.72 | 30.37 | 24.44 | 22.27 | 23.02 | 27.85 |
| EV/EBIT Ratio | 52.90 | 46.74 | 31.60 | 27.51 | 29.66 | 37.51 |
| EV/FCF Ratio | 77.64 | 38.82 | 27.13 | 27.75 | 30.67 | 30.78 |
| Debt / Equity Ratio | 0.08 | 0.10 | 0.26 | 0.26 | 0.25 | 0.24 |
| Debt / EBITDA Ratio | 0.29 | 0.41 | 0.77 | 0.73 | 0.76 | 0.94 |
| Debt / FCF Ratio | 0.72 | 0.65 | 0.99 | 1.05 | 1.22 | 1.20 |
| Net Debt / Equity Ratio | -0.30 | -0.24 | 0.05 | 0.01 | -0.10 | -0.15 |
| Net Debt / EBITDA Ratio | -1.26 | -1.22 | 0.19 | 0.05 | -0.36 | -0.66 |
| Net Debt / FCF Ratio | -2.67 | -1.55 | 0.21 | 0.06 | -0.48 | -0.73 |
| Asset Turnover | 1.66 | 1.76 | 1.63 | 1.45 | 1.30 | 1.12 |
| Inventory Turnover | 14.71 | 17.15 | 14.39 | 14.63 | 17.37 | |
| Quick Ratio | 1.33 | 1.58 | 1.21 | 1.60 | 2.15 | 2.53 |
| Current Ratio | 1.67 | 2.03 | 1.74 | 2.09 | 2.60 | 2.90 |
| Return on Equity (ROE) | 15.41% | 15.97% | 20.43% | 18.48% | 15.21% | 22.59% |
| Return on Assets (ROA) | 6.12% | 5.34% | 8.73% | 9.75% | 8.71% | 7.34% |
| Return on Invested Capital (ROIC) | 15.24% | 9.49% | 14.65% | 17.04% | 16.37% | 15.44% |
| Return on Capital Employed (ROCE) | 16.20% | 12.30% | 18.20% | 20.30% | 17.40% | 13.70% |
| Earnings Yield | 1.76% | 2.61% | 3.03% | 2.86% | 2.45% | 3.34% |
| FCF Yield | 1.25% | 2.47% | 3.68% | 3.56% | 3.15% | 3.17% |
| Buyback Yield / Dilution | 3.04% | 3.17% | 3.86% | 8.07% | 2.43% | 0.58% |