Calavo Growers, Inc. (CVGW) 10-Year Financial Performance & Capital Metrics

CVGW • • Industrial / General

Consumer DefensiveFood DistributionFresh Produce & Avocado DistributionAvocado Growers & Distributors

AboutCalavo Growers, Inc. markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors, and wholesale customers worldwide. It operates in three segments: Fresh Products, Calavo Foods, and Renaissance Food Group (RFG). The Fresh products segment distributes avocados and other fresh produce products comprising tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia. The Calavo Foods segment is involved in purchasing, processing, packaging, and distributing prepared avocado products, including guacamole and salsa. The RFG segment manufactures, markets, and distributes fresh-cut fruits and vegetables, fresh prepared entrée salads, wraps, sandwiches, and fresh snacking products, as well as ready-to-heat entrees, other hot bar and various deli items, meals kits and related components, and salad kits. The company offers its products under the Calavo and RFG brands, and related logos; and Avo Fresco, Bueno, Calavo Gold, Calavo Salsa Lisa, Salsa Lisa, Celebrate the Taste, El Dorado, Fresh Ripe, Select, Taste of Paradise, The First Name in Avocados, Tico, Mfresh, Maui Fresh International, Triggered Avocados, ProRipeVIP, RIPE NOW!, Garden Highway Fresh Cut, Garden Highway, and Garden Highway Chef Essentials trademarks. Calavo Growers, Inc. was founded in 1924 and is headquartered in Santa Paula, California.Show more

Revenue $648M -2.0%
EBITDA $27M -4.3%
Net Income $29M +2424.6%
EPS (Diluted) 1.65 +2850.0%
Gross Margin 9.52% -7.2%
EBITDA Margin 4.18% -2.4%
Operating Margin 3.02% +12.9%
Net Margin 4.55% +2471.3%
ROE 14.37% +2434.2%
ROIC 8.64% +44.3%
Debt/Equity 0.11 -15.7%
Interest Coverage 23.71 +287.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient asset utilization: 2.2x turnover

✗Weaknesses

✗Weak 3Y average ROE of 3.3%
✗Sales declining 9.4% over 5 years
✗Thin 5Y average net margin of 0.3%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-2.75%

5Y-9.35%

3Y-18.35%

TTM-5.33%

Profit (Net Income) CAGR

10Y0.81%

5Y-

3Y-

TTM276.93%

EPS CAGR

10Y0.5%

5Y-

3Y-

TTM334.03%

ROCE

10Y Avg13.4%

5Y Avg4.32%

3Y Avg7.07%

Latest8.53%

Peer Comparison

Avocado Growers & Distributors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AVOMission Produce, Inc.	870.61M	12.29	23.19	12.68%	2.71%	6.08%	4.27%	0.02
CVGWCalavo Growers, Inc.	457.93M	25.62	15.53	-1.98%	2.26%	7.52%	4.7%	0.11

Profit & Loss

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024	Oct 2025
Sales/Revenue+	935.68M	1.08B	1.09B	1.2B	1.06B	1.06B	1.19B	594.1M	661.54M	648.43M
Revenue Growth %	0.09%	0.15%	0.01%	0.1%	-0.11%	-0%	0.13%	-0.5%	0.11%	-0.02%
Cost of Goods Sold+	828.14M	961.02M	975.14M	1.07B	969.47M	998.4M	1.12B	531.49M	593.74M	586.73M
COGS % of Revenue	0.89%	0.89%	0.9%	0.89%	0.92%	0.95%	0.94%	0.89%	0.9%	0.9%
Gross Profit+	107.53M	114.54M	113.62M	128.08M	89.9M	57.42M	72.84M	62.61M	67.8M	61.7M
Gross Margin %	0.11%	0.11%	0.1%	0.11%	0.08%	0.05%	0.06%	0.11%	0.1%	0.1%
Gross Profit Growth %	0.26%	0.07%	-0.01%	0.13%	-0.3%	-0.36%	0.27%	-0.14%	0.08%	-0.09%
Operating Expenses+	46.44M	55.05M	56.18M	59.11M	57.95M	67.42M	62.2M	44.9M	50.08M	42.09M
OpEx % of Revenue	0.05%	0.05%	0.05%	0.05%	0.05%	0.06%	0.05%	0.08%	0.08%	0.06%
Selling, General & Admin	46.44M	55.05M	56.18M	59.01M	57.95M	56.46M	60.68M	41.68M	48.94M	42.09M
SG&A % of Revenue	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.07%	0.07%	0.06%
Research & Development	0	0	0	100K	0	0	100K	100K	100K	0
R&D % of Revenue	-	-	-	0%	-	-	0%	0%	0%	-
Other Operating Expenses	0	0	0	-2.08M	-216K	10.96M	1.42M	3.13M	1.04M	0
Operating Income+	61.09M	59.49M	57.44M	68.97M	31.95M	-10M	10.64M	17.71M	17.72M	19.61M
Operating Margin %	0.07%	0.06%	0.05%	0.06%	0.03%	-0.01%	0.01%	0.03%	0.03%	0.03%
Operating Income Growth %	0.4%	-0.03%	-0.03%	0.2%	-0.54%	-1.31%	2.06%	0.66%	0%	0.11%
EBITDA+	69.91M	70.18M	70.48M	82.6M	48.21M	7.66M	27.25M	34.99M	28.33M	27.09M
EBITDA Margin %	0.07%	0.07%	0.06%	0.07%	0.05%	0.01%	0.02%	0.06%	0.04%	0.04%
EBITDA Growth %	0.35%	0%	0%	0.17%	-0.42%	-0.84%	2.56%	0.28%	-0.19%	-0.04%
D&A (Non-Cash Add-back)	8.81M	10.69M	13.04M	13.63M	16.27M	17.65M	16.61M	17.28M	10.6M	7.48M
EBIT	61.65M	58.4M	57.41M	64.5M	-11.15M	1.34M	-1.1M	14.45M	12.54M	19.61M
Net Interest Income+	-624K	-999K	-513K	1.73M	1.12M	-463K	-1.19M	-1.89M	-1.87M	2.41M
Interest Income	132K	24K	318K	2.67M	2M	335K	500K	605K	1.02M	3.24M
Interest Expense	756K	1.02M	831K	948K	877K	798K	1.69M	2.5M	2.89M	827K
Other Income/Expense	-1.34M	-1.72M	-12.7M	-19.5M	-50.08M	8.82M	-13.99M	-6.51M	-8.55M	5.22M
Pretax Income+	59.76M	57.77M	44.73M	49.47M	-18.13M	-1.18M	-3.35M	11.2M	9.17M	24.83M
Pretax Margin %	0.06%	0.05%	0.04%	0.04%	-0.02%	-0%	-0%	0.02%	0.01%	0.04%
Income Tax+	21.87M	20.45M	12.72M	12.88M	-4.29M	10.75M	3.25M	6.15M	2.33M	-4.65M
Effective Tax Rate %	0.64%	0.65%	0.72%	0.74%	0.75%	10.06%	1.86%	-0.74%	-0.14%	1.19%
Net Income+	38.02M	37.27M	32.28M	36.65M	-13.63M	-11.82M	-6.25M	-8.34M	-1.27M	29.48M
Net Margin %	0.04%	0.03%	0.03%	0.03%	-0.01%	-0.01%	-0.01%	-0.01%	-0%	0.05%
Net Income Growth %	0.4%	-0.02%	-0.13%	0.14%	-1.37%	0.13%	0.47%	-0.34%	0.85%	24.25%
Net Income (Continuing)	37.89M	37.32M	32.01M	36.59M	-13.84M	-11.92M	-6.6M	5.05M	6.85M	29.48M
Discontinued Operations	0	0	0	0	0	0	0	-13.02M	-8.06M	0
Minority Interest	962K	1.02M	1.75M	1.69M	1.47M	1.37M	1.01M	1.39M	1.44M	1.62M
EPS (Diluted)+	2.18	2.13	1.84	2.88	-0.44	-0.58	-0.34	-0.47	-0.06	1.65
EPS Growth %	0.39%	-0.02%	-0.14%	0.57%	-1.15%	-0.32%	0.41%	-0.38%	0.87%	28.5%
EPS (Basic)	2.19	2.14	1.85	2.89	-0.44	-0.58	-0.34	-0.47	-0.06	1.65
Diluted Shares Outstanding	17.43M	17.51M	17.57M	17.59M	17.56M	17.62M	17.66M	17.75M	17.86M	17.9M
Basic Shares Outstanding	17.35M	17.42M	17.48M	17.52M	17.56M	17.62M	17.66M	17.75M	17.8M	17.84M
Dividend Payout Ratio	0.37%	0.42%	0.52%	0.48%	-	-	-	-	-	-

Balance Sheet

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024	Oct 2025
Total Current Assets+	134.95M	119.83M	128.51M	127.52M	135.9M	152.64M	125.67M	133.37M	158.58M	149.43M
Cash & Short-Term Investments	13.84M	6.63M	1.52M	7.97M	4.05M	1.89M	2.06M	2.09M	57.03M	61.16M
Cash Only	13.84M	6.63M	1.52M	7.97M	4.05M	1.89M	2.06M	2.09M	57.03M	61.16M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	70.1M	69.75M	69.66M	63.42M	79.96M	95.69M	59.02M	61.38M	42.84M	31.65M
Days Sales Outstanding	27.35	23.67	23.35	19.36	27.55	33.08	18.09	37.71	23.64	17.81
Inventory	31.85M	30.86M	35.04M	36.89M	41.79M	40.76M	38.83M	39.43M	34.16M	33.6M
Days Inventory Outstanding	14.04	11.72	13.12	12.61	15.73	14.9	12.67	27.08	21	20.9
Other Current Assets	4.76M	7.32M	11.83M	12.9M	10.09M	4.46M	20M	20.94M	9.98M	15.37M
Total Non-Current Assets+	192.98M	244.29M	239.23M	262.85M	293.73M	292.76M	260.07M	253.48M	142.54M	142.82M
Property, Plant & Equipment	87.84M	120.07M	122.14M	132.1M	190.53M	178.12M	167.83M	79.28M	72.52M	65.77M
Fixed Asset Turnover	10.65x	8.96x	8.91x	9.05x	5.56x	5.93x	7.10x	7.49x	9.12x	9.86x
Goodwill	18.26M	18.26M	18.26M	18.26M	28.57M	28.65M	28.65M	10.21M	10.21M	10.21M
Intangible Assets	3.37M	2.23M	1.11M	435K	10.32M	8.77M	7.21M	275K	0	0
Long-Term Investments	58.69M	73.38M	67.41M	42.46M	29.26M	31.4M	3.78M	2.9M	2.42M	2.21M
Other Non-Current Assets	9.88M	20.57M	25.92M	66.15M	32.56M	40.5M	47.17M	157.81M	49.92M	56.32M
Total Assets+	327.93M	364.12M	367.74M	390.36M	429.62M	445.4M	385.75M	386.85M	301.12M	292.25M
Asset Turnover	2.85x	2.95x	2.96x	3.06x	2.47x	2.37x	3.09x	1.54x	2.20x	2.22x
Asset Growth %	0.15%	0.11%	0.01%	0.06%	0.1%	0.04%	-0.13%	0%	-0.22%	-0.03%
Total Current Liabilities+	109.34M	116.17M	98.94M	90.63M	106.33M	114.62M	101.95M	81.75M	73.2M	60.48M
Accounts Payable	43.41M	39.44M	27.74M	30.88M	20.73M	32.83M	30.66M	19.89M	27.12M	15.35M
Days Payables Outstanding	19.13	14.98	10.38	10.56	7.8	12	10.01	13.66	16.67	9.55
Short-Term Debt	19M	20M	15M	0	20.55M	0	0	647K	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	0	0	0	0	0	11M	11M	40.91M	11M	11.95M
Current Ratio	1.23x	1.03x	1.30x	1.41x	1.28x	1.33x	1.23x	1.63x	2.17x	2.47x
Quick Ratio	0.94x	0.77x	0.94x	1.00x	0.89x	0.98x	0.85x	1.15x	1.70x	1.92x
Cash Conversion Cycle	22.25	20.41	26.09	21.41	35.48	35.98	20.75	51.13	27.97	29.17
Total Non-Current Liabilities+	3.52M	3.83M	3.83M	13.86M	67.29M	103.89M	60.42M	94.88M	26.14M	23.21M
Long-Term Debt	0	0	0	0	0	37.7M	1.2M	38.44M	0	0
Capital Lease Obligations	445K	439K	314K	5.41M	63.99M	63.11M	56.59M	21.97M	21.75M	19.01M
Deferred Tax Liabilities	0	0	842K	0	0	0	0	746K	0	0
Other Non-Current Liabilities	3.08M	3.39M	3.52M	8.45M	3.3M	3.08M	2.63M	33.72M	4.39M	4.2M
Total Liabilities	112.86M	120M	102.78M	104.49M	173.62M	218.52M	162.38M	176.63M	99.34M	83.69M
Total Debt+	19.58M	20.57M	15.43M	6.17M	92.33M	109.22M	66.29M	65.55M	25.92M	22.58M
Net Debt	5.74M	13.94M	13.91M	-1.8M	88.27M	107.33M	64.23M	63.46M	-31.11M	-38.57M
Debt / Equity	0.09x	0.08x	0.06x	0.02x	0.36x	0.48x	0.30x	0.31x	0.13x	0.11x
Debt / EBITDA	0.28x	0.29x	0.22x	0.07x	1.91x	14.26x	2.43x	1.87x	0.92x	0.83x
Net Debt / EBITDA	0.08x	0.20x	0.20x	-0.02x	1.83x	14.02x	2.36x	1.81x	-1.10x	-1.42x
Interest Coverage	80.81x	58.16x	69.12x	72.75x	36.43x	-12.53x	6.31x	7.10x	6.13x	23.71x
Total Equity+	216.03M	245.14M	264.96M	285.87M	256M	226.88M	224.39M	210.23M	201.78M	208.56M
Equity Growth %	0.16%	0.13%	0.08%	0.08%	-0.1%	-0.11%	-0.01%	-0.06%	-0.04%	0.03%
Book Value per Share	12.39	14.00	15.08	16.25	14.58	12.88	12.70	11.84	11.30	11.65
Total Shareholders' Equity	215.07M	244.12M	263.21M	284.18M	254.53M	225.51M	223.37M	208.84M	200.33M	206.94M
Common Stock	17K	18K	18K	18K	18K	18K	18K	18K	18K	18K
Retained Earnings	57.8M	78.41M	93.12M	122.56M	89.51M	57.36M	51.12M	32.34M	22.34M	27.84M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	6.54M	10.43M	12.14M	0	0	0	0	0	0	0
Minority Interest	962K	1.02M	1.75M	1.69M	1.47M	1.37M	1.01M	1.39M	1.44M	1.62M

Cash Flow

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024	Oct 2025
Cash from Operations+	61.97M	62.14M	48.43M	72.1M	28.88M	13.57M	50.23M	-14.47M	24.42M	24.42M
Operating CF Margin %	0.07%	0.06%	0.04%	0.06%	0.03%	0.01%	0.04%	-0.02%	0.04%	0.04%
Operating CF Growth %	0.66%	0%	-0.22%	0.49%	-0.6%	-0.53%	2.7%	-1.29%	2.69%	0%
Net Income	38.46M	37.32M	32.01M	36.59M	-13.84M	-11.92M	-6.6M	-7.97M	-1.02M	-1.02M
Depreciation & Amortization	8.81M	10.69M	13.04M	13.63M	16.09M	17.57M	16.59M	17.28M	10.6M	10.6M
Stock-Based Compensation	2.13M	4.32M	4.63M	3.59M	4.49M	3.95M	3.14M	5.21M	2.16M	2.16M
Deferred Taxes	1.6M	2.73M	4.87M	930K	-1.93M	-2.53M	-117K	4.33M	-5.04M	-5.21M
Other Non-Cash Items	2.12M	1.33M	11.91M	20.64M	50.25M	1.18M	9.48M	1.36M	7.94M	17.89M
Working Capital Changes	8.85M	5.75M	-18.04M	-3.28M	-26.18M	5.32M	27.75M	-34.68M	9.78M	0
Change in Receivables	-11.54M	-879K	3.62M	2.69M	1.86M	-15.02M	19.85M	-2.36M	-6.54M	-6.54M
Change in Inventory	-5.5M	991K	-4.19M	-1.84M	-4.21M	412K	1.84M	-989K	-1.89M	-1.89M
Change in Payables	7.6M	14.65M	-7.94M	4.25M	-14.03M	15.08M	10.53M	-15.13M	6.97M	6.97M
Cash from Investing+	-21.73M	-53.67M	-30.2M	-31.85M	-31.93M	-9.36M	8.68M	-10.69M	80.11M	80.11M
Capital Expenditures	-21.86M	-44.51M	-15M	-16.72M	-11.34M	-11.44M	-9.77M	-10.69M	-2.89M	-2.89M
CapEx % of Revenue	0.02%	0.04%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	4.03M	409K	-11.56M	-16.28M	-715K	20.47M	-18.45M	0	0	83M
Cash from Financing+	-33.57M	-15.69M	-23.33M	-33.8M	-865K	-5.41M	-58.63M	24.88M	-50.35M	-50.35M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-13.91M	-15.7M	-16.66M	-17.57M	-19.35M	-20.34M	-20.33M	-10.43M	-8.92M	-8.92M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	551K	-935K	-1.53M	-923K	86K	47K	-49K	-645K	-148K	-41.43M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	40.11M	17.63M	33.42M	55.38M	17.54M	2.13M	40.46M	-25.16M	21.53M	21.53M
FCF Margin %	0.04%	0.02%	0.03%	0.05%	0.02%	0%	0.03%	-0.04%	0.03%	0.03%
FCF Growth %	1.09%	-0.56%	0.9%	0.66%	-0.68%	-0.88%	17.96%	-1.62%	1.86%	0%
FCF per Share	2.30	1.01	1.90	3.15	1.00	0.12	2.29	-1.42	1.21	1.20
FCF Conversion (FCF/Net Income)	1.63x	1.67x	1.50x	1.97x	-2.12x	-1.15x	-8.04x	1.73x	-19.26x	0.83x
Interest Paid	741K	1.09M	874K	1.11M	878K	687K	1.48M	2.49M	2.64M	0
Taxes Paid	14.43M	17.01M	9.26M	10.22M	5.47M	3.05M	2.6M	1.49M	2.29M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	18.92%	16.16%	12.66%	13.31%	-5.03%	-4.89%	-2.77%	-3.84%	-0.62%	14.37%
Return on Invested Capital (ROIC)	20.81%	18.56%	16.01%	18.38%	7.63%	-2.21%	2.56%	4.72%	5.98%	8.64%
Gross Margin	11.49%	10.65%	10.44%	10.71%	8.49%	5.44%	6.12%	10.54%	10.25%	9.52%
Net Margin	4.06%	3.47%	2.96%	3.06%	-1.29%	-1.12%	-0.52%	-1.4%	-0.19%	4.55%
Debt / Equity	0.09x	0.08x	0.06x	0.02x	0.36x	0.48x	0.30x	0.31x	0.13x	0.11x
Interest Coverage	80.81x	58.16x	69.12x	72.75x	36.43x	-12.53x	6.31x	7.10x	6.13x	23.71x
FCF Conversion	1.63x	1.67x	1.50x	1.97x	-2.12x	-1.15x	-8.04x	1.73x	-19.26x	0.83x
Revenue Growth	9.2%	14.95%	1.23%	9.83%	-11.41%	-0.33%	12.81%	-50.12%	11.35%	-1.98%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Fresh products	-	-	-	-	-	-	-	-	-	576.54M
Fresh products Growth	-	-	-	-	-	-	-	-	-	-
Avocados	-	-	-	-	-	-	-	-	534.41M	-
Avocados Growth	-	-	-	-	-	-	-	-	-	-
Tomatoes	-	-	-	-	-	-	-	-	54.66M	-
Tomatoes Growth	-	-	-	-	-	-	-	-	-	-
Papayas	-	-	-	-	-	-	-	-	11.57M	-
Papayas Growth	-	-	-	-	-	-	-	-	-	-
Other Fresh Products	-	-	-	-	-	-	-	-	8K	-
Other Fresh Products Growth	-	-	-	-	-	-	-	-	-	-
Fresh Products	540.53M	585.48M	555.53M	618.94M	583.4M	586.03M	-	-	-	-
Fresh Products Growth	-	8.32%	-5.11%	11.41%	-5.74%	0.45%	-	-	-	-
Calavo Foods	73.93M	89.16M	103.06M	90.78M	71.25M	396.47M	-	-	-	-
Calavo Foods Growth	-	20.59%	15.59%	-11.92%	-21.51%	456.48%	-	-	-	-
Rfg	336.99M	419.97M	451.2M	486.06M	-	73.33M	-	-	-	-
Rfg Growth	-	24.63%	7.44%	7.73%	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Non-US	-	-	-	-	-	-	-	-	38.6M	-
Non-US Growth	-	-	-	-	-	-	-	-	-	-
Outside United States	25.4M	29.8M	41.8M	-	-	-	27.8M	34.6M	-	-
Outside United States Growth	-	17.32%	40.27%	-	-	-	-	24.46%	-	-
Non Us	-	-	-	42.5M	29.7M	34.8M	-	-	-	-
Non Us Growth	-	-	-	-	-30.12%	17.17%	-	-	-	-

Frequently Asked Questions

Valuation & Price

Calavo Growers, Inc. (CVGW) has a price-to-earnings (P/E) ratio of 15.5x. This is roughly in line with market averages.

Growth & Financials

Calavo Growers, Inc. (CVGW) reported $693.7M in revenue for fiscal year 2025. This represents a 26% increase from $551.1M in 2012.

Calavo Growers, Inc. (CVGW) saw revenue decline by 2.0% over the past year.

Yes, Calavo Growers, Inc. (CVGW) is profitable, generating $15.6M in net income for fiscal year 2025 (4.5% net margin).

Dividend & Returns

Yes, Calavo Growers, Inc. (CVGW) pays a dividend with a yield of 1.95%. This makes it attractive for income-focused investors.

Calavo Growers, Inc. (CVGW) has a return on equity (ROE) of 14.4%. This is reasonable for most industries.

Calavo Growers, Inc. (CVGW) generated $28.6M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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