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Limoneira Company (LMNR) 10-Year Financial Performance & Capital Metrics

LMNR • • Industrial / General
Consumer DefensiveFarm ProductsSpecialized Crop ProductionCitrus & Fruit Growers
AboutLimoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through three divisions: Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons. The company also grows avocado, oranges, and specialty citrus and other crops, including Moro blood oranges, Cara Cara oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, pistachios, and wine grapes. It has approximately 6,100 acres of lemons planted primarily in Ventura, Tulare, San Luis Obispo, and San Bernardino Counties in California; and Jujuy, Argentina, as well in Yuma County, Arizona, and La Serena, Chile; 800 acres of avocados planted in Ventura County; 1,000 acres of oranges planted in Tulare County, California; and 900 acres of specialty citrus and other crops. In addition, the company rents residential housing units and commercial office buildings, as well as leases approximately 500 acres of its land to third-party agricultural tenants. Further, it is involved in organic recycling operations; and the development of land parcels, multi-family housing, and single-family homes. The company markets and sells its lemons directly to food service, wholesale, and retail customers; avocados to a packing and marketing company; oranges, specialty citrus, and other crops through Sunkist and other third-party packinghouses; and wine grapes to wine producers. Limoneira Company was founded in 1893 and is headquartered in Santa Paula, California.Show more
  • Revenue $192M +6.4%
  • EBITDA $3M -85.5%
  • Net Income $8M -17.9%
  • EPS (Diluted) 0.40 -20.0%
  • Gross Margin 11.19% +228.8%
  • EBITDA Margin 1.53% -86.4%
  • Operating Margin -3.23% -153.8%
  • Net Margin 4.03% -22.9%
  • ROE 3.83% -20.1%
  • ROIC -1.91% -163.6%
  • Debt/Equity 0.22 -4.8%
  • Interest Coverage -6.43 -129.5%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Healthy dividend yield of 2.1%
  • ✓Trading at only 1.2x book value

✗Weaknesses

  • ✗Weak 3Y average ROE of 2.8%
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.35%
5Y2.24%
3Y4.87%
TTM-14.97%

Profit (Net Income) CAGR

10Y0.99%
5Y-
3Y-
TTM-250.16%

EPS CAGR

10Y-1.39%
5Y-
3Y-
TTM-420%

ROCE

10Y Avg0.41%
5Y Avg-1.24%
3Y Avg0.21%
Latest-2.32%

Peer Comparison

Citrus & Fruit Growers
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
LMNRLimoneira Company257.65M14.2235.556.45%-5.69%-4.8%3.28%0.22
ALCOAlico, Inc.300.45M39.24-2.03-5.52%-334.35%-136.43%4.87%0.03

Profit & Loss

Oct 2015Oct 2016Oct 2017Oct 2018Oct 2019Oct 2020Oct 2021Oct 2022Oct 2023Oct 2024
Sales/Revenue+100.31M111.79M121.31M129.39M171.4M164.56M166.03M184.6M179.9M191.5M
Revenue Growth %-0.03%0.11%0.09%0.07%0.32%-0.04%0.01%0.11%-0.03%0.06%
Cost of Goods Sold+81.96M89.28M95.38M102.3M156.81M161.78M152.82M165.09M173.78M170.08M
COGS % of Revenue0.82%0.8%0.79%0.79%0.91%0.98%0.92%0.89%0.97%0.89%
Gross Profit+18.36M22.51M25.93M27.1M14.59M2.77M13.2M19.52M6.12M21.42M
Gross Margin %0.18%0.2%0.21%0.21%0.09%0.02%0.08%0.11%0.03%0.11%
Gross Profit Growth %-0.26%0.23%0.15%0.05%-0.46%-0.81%3.76%0.48%-0.69%2.5%
Operating Expenses+13.77M13.32M13.95M16.05M21.17M21.28M19.43M21.82M-4.66M27.6M
OpEx % of Revenue0.14%0.12%0.11%0.12%0.12%0.13%0.12%0.12%-0.03%0.14%
Selling, General & Admin13.77M13.32M13.95M16.05M21.17M21.28M19.43M21.82M26.45M27.46M
SG&A % of Revenue0.14%0.12%0.11%0.12%0.12%0.13%0.12%0.12%0.15%0.14%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses0000129K089K0-31.12M136K
Operating Income+4.58M9.19M11.86M9.49M-6.58M-18.51M-6.22M-2.3M10.78M-6.18M
Operating Margin %0.05%0.08%0.1%0.07%-0.04%-0.11%-0.04%-0.01%0.06%-0.03%
Operating Income Growth %-0.54%1%0.29%-0.2%-1.69%-1.81%0.66%0.63%5.69%-1.57%
EBITDA+8.77M14.53M18.33M16.76M2.05M-7.94M4.11M7.94M20.22M2.94M
EBITDA Margin %0.09%0.13%0.15%0.13%0.01%-0.05%0.02%0.04%0.11%0.02%
EBITDA Growth %-0.35%0.66%0.26%-0.09%-0.88%-4.87%1.52%0.93%1.55%-0.85%
D&A (Non-Cash Add-back)4.18M5.34M6.47M7.28M8.63M10.57M10.33M10.24M9.44M9.11M
EBIT11.2M14.73M11.98M14.81M-4.43M-24.39M-2.66M2.64M13.86M12.51M
Net Interest Income+-148K-1.41M-1.78M-1.12M-2.13M-1.69M-1.12M-2.24M-130K-843K
Interest Income40K23K00207K362K379K53K364K118K
Interest Expense188K1.43M1.78M1.12M2.34M2.05M1.5M2.29M494K961K
Other Income/Expense6.47M4.14M-1.24M4M-1.05M-7.43M2.17M-1.85M2.58M17.73M
Pretax Income+11.06M13.32M10.63M13.48M-6.56M-26.43M-4.16M349K13.36M11.55M
Pretax Margin %0.11%0.12%0.09%0.1%-0.04%-0.16%-0.03%0%0.07%0.06%
Income Tax+3.97M5.27M4.08M-6.73M-1.1M-8.49M-266K823K4.25M4.37M
Effective Tax Rate %0.64%0.6%0.62%1.5%0.83%0.68%0.94%-1.36%0.7%0.67%
Net Income+7.08M8.06M6.59M20.19M-5.47M-17.94M-3.9M-474K9.4M7.72M
Net Margin %0.07%0.07%0.05%0.16%-0.03%-0.11%-0.02%-0%0.05%0.04%
Net Income Growth %0.01%0.14%-0.18%2.06%-1.27%-2.28%0.78%0.88%20.83%-0.18%
Net Income (Continuing)7.08M8.06M6.55M20.21M-5.47M-17.94M-3.9M-474K9.12M7.17M
Discontinued Operations0000000000
Minority Interest00587K574K15.42M13.74M11.96M11.61M11.21M10.55M
EPS (Diluted)+0.460.520.421.25-0.31-1.02-0.22-0.030.500.40
EPS Growth %0%0.13%-0.19%1.98%-1.25%-2.29%0.78%0.88%19.45%-0.2%
EPS (Basic)0.460.520.421.30-0.31-1.02-0.22-0.030.500.40
Diluted Shares Outstanding14.12M14.17M14.31M16.21M17.58M17.67M17.55M17.51M17.6M17.71M
Basic Shares Outstanding14.12M14.17M14.31M15.58M17.58M17.67M17.55M17.51M17.6M17.71M
Dividend Payout Ratio0.36%0.35%0.48%0.2%----0.57%0.7%

Balance Sheet

Oct 2015Oct 2016Oct 2017Oct 2018Oct 2019Oct 2020Oct 2021Oct 2022Oct 2023Oct 2024
Total Current Assets+13.76M18.5M23.12M31.04M35.07M42.52M42.09M37.53M30.23M25.85M
Cash & Short-Term Investments39K38K492K609K616K501K439K857K3.63M3M
Cash Only39K38K492K609K616K501K439K857K3.63M3M
Short-Term Investments0000000000
Accounts Receivable7.42M12.11M11.52M17.29M19.26M16.26M17.48M20.01M17.71M17.44M
Days Sales Outstanding2739.5334.6748.7841.0136.0738.4439.5735.9333.23
Inventory3.92M3.84M4.12M7.73M11.59M10.65M10.02M12.79M4.79M0
Days Inventory Outstanding17.4415.7115.7827.5926.9824.0323.9328.2810.06-
Other Current Assets4.61M4.8M9.42M16.32M16.36M25.76M24.17M21.03M4.09M3.13M
Total Non-Current Assets+255.76M286.95M315.91M390.3M364.8M347.08M350.19M330.98M270.99M272.97M
Property, Plant & Equipment128.95M177.1M188.22M225.68M248.11M242.65M242.42M222.63M165.3M165.23M
Fixed Asset Turnover0.78x0.63x0.64x0.57x0.69x0.68x0.68x0.83x1.09x1.16x
Goodwill680K680K876K1.43M1.84M1.53M1.53M1.51M1.51M1.5M
Intangible Assets1.98M1.88M2.89M6.22M12.41M11.31M8.33M7.32M6.66M5.22M
Long-Term Investments21.55M24M36.17M42.95M75.57M61.21M64.07M72.86M84.52M81.55M
Other Non-Current Assets-19.32B-25.24B56.34M88.64M9.27M8.74M11.01M3.18M13M15.75M
Total Assets+269.53M305.45M339.03M421.34M399.87M389.6M392.28M368.52M301.21M298.81M
Asset Turnover0.37x0.37x0.36x0.31x0.43x0.42x0.42x0.50x0.60x0.64x
Asset Growth %0.09%0.13%0.11%0.24%-0.05%-0.03%0.01%-0.06%-0.18%-0.01%
Total Current Liabilities+19.67M23.75M23.61M27.07M31.66M31.46M35.32M39.27M33.36M34.8M
Accounts Payable11.91M13.61M14.54M17.44M20.37M15.31M19.33M21.4M19.52M16.22M
Days Payables Outstanding53.0555.6555.6462.2247.4234.5446.1847.324134.81
Short-Term Debt589K2.51M3.03M3.13M3.02M3.28M2.47M1.73M381K559K
Deferred Revenue (Current)892K633K636K497K0001000K00
Other Current Liabilities4.8M4.75M3.08M1.77M906K6.27M6.84M4.73M8.45M4.15M
Current Ratio0.70x0.78x0.98x1.15x1.11x1.35x1.19x0.96x0.91x0.74x
Quick Ratio0.50x0.62x0.80x0.86x0.74x1.01x0.91x0.63x0.76x0.74x
Cash Conversion Cycle-8.61-0.4-5.1914.1420.5725.5616.1920.535-
Total Non-Current Liabilities+116.3M142.97M167.81M164.31M135.71M151.57M157.71M137.38M67.36M61.51M
Long-Term Debt89.08M88.16M102.08M76.97M105.89M122.57M130.35M104.08M40.63M40.03M
Capital Lease Obligations000001.61M2.53M5.06M2.32M818K
Deferred Tax Liabilities19.43M25.33M31.41M25.37M24.35M22.43M22.85M23.5M22.17M20.08M
Other Non-Current Liabilities7.8M6.13M3.92M87.35M5.47M4.96M24.82M28.24M2.24M577K
Total Liabilities135.97M166.72M191.43M191.39M167.37M183.03M193.03M176.65M100.71M96.31M
Total Debt+89.82M90.67M105.11M80.09M108.92M125.85M132.82M105.81M45.48M43.7M
Net Debt89.78M90.63M104.62M79.48M108.3M125.35M132.39M104.95M41.84M40.71M
Debt / Equity0.67x0.65x0.71x0.35x0.47x0.61x0.67x0.55x0.23x0.22x
Debt / EBITDA10.25x6.24x5.73x4.78x53.13x-32.33x13.32x2.25x14.89x
Net Debt / EBITDA10.24x6.24x5.71x4.74x52.83x-32.23x13.22x2.07x13.87x
Interest Coverage24.38x6.42x6.67x8.45x-2.81x-9.04x-4.15x-1.00x21.83x-6.43x
Total Equity+133.55M138.73M147.6M229.95M232.5M206.57M199.25M191.86M200.5M202.5M
Equity Growth %0.02%0.04%0.06%0.56%0.01%-0.11%-0.04%-0.04%0.04%0.01%
Book Value per Share9.469.7910.3114.1913.2311.6911.3510.9611.3911.43
Total Shareholders' Equity133.55M138.73M147.02M229.38M217.08M192.83M187.28M180.25M189.29M191.95M
Common Stock141K142K144K176K178K179K179K177K179K180K
Retained Earnings27.22M31.81M34.69M50.35M53.09M30.8M21.55M15.5M19.02M20.83M
Treasury Stock00000-3.49M-3.49M-3.49M-3.49M-3.49M
Accumulated OCI3.16M2.7M7.08M8.96M-7.25M-7.55M-5.73M-7.91M-5.67M-6.61M
Minority Interest00587K574K15.42M13.74M11.96M11.61M11.21M10.55M

Cash Flow

Oct 2015Oct 2016Oct 2017Oct 2018Oct 2019Oct 2020Oct 2021Oct 2022Oct 2023Oct 2024
Cash from Operations+7.7M14.3M18.48M18.4M1.36M-11.32M9.61M14.83M-15.87M17.85M
Operating CF Margin %0.08%0.13%0.15%0.14%0.01%-0.07%0.06%0.08%-0.09%0.09%
Operating CF Growth %-0.51%0.86%0.29%-0%-0.93%-9.29%1.85%0.54%-2.07%2.12%
Net Income7.08M8.06M6.55M20.21M-5.47M-17.94M-3.9M-474K9.12M7.17M
Depreciation & Amortization4.18M5.34M6.47M7.28M8.63M10.1M9.81M9.8M8.58M8.37M
Stock-Based Compensation1.08M1.31M1.33M1.37M1.79M2.04M2.58M2.73M3.84M4.12M
Deferred Taxes-350K6.2M2.29M-7.31M-773K-2.13M-189K548K-1.95M-2.09M
Other Non-Cash Items-4.9M-4.55M1.15M-2.73M-1.84M7.6M-2.02M-3.08M-32.99M-1.38M
Working Capital Changes598K-2.04M696K-420K-978K-10.99M3.32M5.31M-2.47M1.66M
Change in Receivables-184K-1.88M-1.56M-3.23M-4.01M-309K-5.08M1.84M815K1.1M
Change in Inventory871.59M-808.6M971K2.15M-3.39M5.54M-5.39M-1.15M00
Change in Payables-873M808M808K707K3.39M-5.54M5.39M1.85M-1.77M-3.34M
Cash from Investing+-25.81M-11.52M-26.42M-50.81M-23.65M3.85M-10.24M19.43M90.58M-9.19M
Capital Expenditures-34.64M-31.35M-12.9M-26.98M-16.26M-10.6M-9.83M-10.07M-10.3M-9.41M
CapEx % of Revenue0.35%0.28%0.11%0.21%0.09%0.06%0.06%0.05%0.06%0.05%
Acquisitions----------
Investments----------
Other Investing8.84M995K-12.9M299K7.3M6.26M250K22.14M102.25M226K
Cash from Financing+18.06M-2.78M8.38M32.55M22.43M7.36M534K-33.52M-71.92M-9.29M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-3.17M-3.46M-3.71M-4.53M-5.83M-5.86M-5.8M-5.82M-5.88M-5.91M
Share Repurchases----------
Other Financing-237K-151K-402K-656K-35K-279K0000
Net Change in Cash----------
Free Cash Flow+-26.95M-17.05M5.58M-8.59M-14.9M-21.92M-229K4.76M-26.18M8.44M
FCF Margin %-0.27%-0.15%0.05%-0.07%-0.09%-0.13%-0%0.03%-0.15%0.04%
FCF Growth %-1.71%0.37%1.33%-2.54%-0.74%-0.47%0.99%21.8%-6.49%1.32%
FCF per Share-1.91-1.200.39-0.53-0.85-1.24-0.010.27-1.490.48
FCF Conversion (FCF/Net Income)1.09x1.78x2.80x0.91x-0.25x0.63x-2.46x-31.29x-1.69x2.31x
Interest Paid55K1.41M01.58M2.53M002.06M0971K
Taxes Paid2.96M2.13M0210K130K0083K05.19M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)5.36%5.92%4.61%10.69%-2.36%-8.17%-1.92%-0.24%4.79%3.83%
Return on Invested Capital (ROIC)1.63%3.04%3.69%2.53%-1.52%-4.13%-1.41%-0.55%3%-1.91%
Gross Margin18.3%20.13%21.38%20.94%8.51%1.69%7.95%10.57%3.4%11.19%
Net Margin7.06%7.21%5.44%15.6%-3.19%-10.9%-2.35%-0.26%5.23%4.03%
Debt / Equity0.67x0.65x0.71x0.35x0.47x0.61x0.67x0.55x0.23x0.22x
Interest Coverage24.38x6.42x6.67x8.45x-2.81x-9.04x-4.15x-1.00x21.83x-6.43x
FCF Conversion1.09x1.78x2.80x0.91x-0.25x0.63x-2.46x-31.29x-1.69x2.31x
Revenue Growth-3.05%11.44%8.52%6.66%32.46%-3.99%0.89%11.19%-2.55%6.45%

Revenue by Segment

2015201620172018201920202021202220232024
Fresh Lemons-------120.89M121.54M119.04M
Fresh Lemons Growth--------0.54%-2.05%
Lemon Packing-------22.18M51.65M49.26M
Lemon Packing Growth--------132.93%-4.64%
Avocados-----8.81M6.59M17.33M7.05M25.11M
Avocados Growth-------25.12%162.83%-59.34%256.43%
Other Agribusiness-------18.89M25.23M24.63M
Other Agribusiness Growth--------33.54%-2.34%
Total Agri Business-------179.28M--
Total Agri Business Growth----------
Avocado---6.58M3.08M-----
Avocado Growth-----53.16%-----
Agribusiness---124.34M------
Agribusiness Growth----------
Oranges---2.29M------
Oranges Growth----------
Product Two7.13M10.77M9.52M-------
Product Two Growth-50.97%-11.56%-------
Product Three5.63M6.14M--------
Product Three Growth-9.19%--------
Product Four3.39M3.95M--------
Product Four Growth-16.68%--------
Residential And Commercial Rentals-3.56M--------
Residential And Commercial Rentals Growth----------
Leased Land1.86M1.75M--------
Leased Land Growth--5.90%--------
Organic Recycling347K293K--------
Organic Recycling Growth--15.56%--------
Residential And Commercial2.89M---------
Residential And Commercial Growth----------

Revenue by Geography

2015201620172018201920202021202220232024
CHILE----3.2M3.52M2.98M3.61M--
CHILE Growth-----10.03%-15.48%21.44%--
ARGENTINA----14.7M14.15M3.63M673K--
ARGENTINA Growth------3.74%-74.33%-81.48%--

Frequently Asked Questions

Valuation & Price

Limoneira Company (LMNR) has a price-to-earnings (P/E) ratio of 35.5x. This suggests investors expect higher future growth.

Growth & Financials

Limoneira Company (LMNR) reported $160.8M in revenue for fiscal year 2024. This represents a 206% increase from $52.5M in 2011.

Limoneira Company (LMNR) grew revenue by 6.4% over the past year. This is steady growth.

Limoneira Company (LMNR) reported a net loss of $9.1M for fiscal year 2024.

Dividend & Returns

Yes, Limoneira Company (LMNR) pays a dividend with a yield of 2.15%. This makes it attractive for income-focused investors.

Limoneira Company (LMNR) has a return on equity (ROE) of 3.8%. This is below average, suggesting room for improvement.

Limoneira Company (LMNR) had negative free cash flow of $12.7M in fiscal year 2024, likely due to heavy capital investments.

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