Village Farms International, Inc. (VFF) 10-Year Financial Performance & Capital Metrics

VFF • • Industrial / General

Consumer DefensiveFarm ProductsSpecialized Crop ProductionFresh Produce & Vegetable Growers

AboutVillage Farms International, Inc., together with its subsidiaries, produces, markets, and distributes greenhouse-grown tomatoes, bell peppers, and cucumbers in North America. It operates through four segments: Produce, Cannabis-Canada, Cannabis-U.S., and Energy. The company also owns and operates a power plant that generates and sells electricity, and provides thermal heat to British Columbia Hydro and Power Authority; produces and supplies cannabis products to other licensed providers and provincial governments in Canada and internationally; and develops and sells cannabinoid-based health and wellness products, including ingestible, edibles, and topical applications. It markets and distributes its products under the Village Farms brand name to retail supermarkets and fresh food distribution companies, as well as products produced under exclusive arrangements with other greenhouse producers. The company was formerly known as Village Farms Canada Inc. and changed its name to Village Farms International, Inc. in December 2009. Village Farms International, Inc. was founded in 1989 and is headquartered in Delta, Canada.Show more

Revenue $336M +17.7%
EBITDA -$5M -3128.2%
Net Income -$36M -3.0%
EPS (Diluted) -0.32 -10.3%
Gross Margin 14.1% -18.5%
EBITDA Margin -1.43% -2641.0%
Operating Margin -7.03% -25.0%
Net Margin -10.66% +12.5%
ROE -12.3% -12.9%
ROIC -5.52% -64.9%
Debt/Equity 0.18 -15.1%
Interest Coverage -7.03 -97.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 96 (top 4%)
✓Strong 5Y sales CAGR of 18.4%
✓Trading at only 1.4x book value

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.42%

5Y18.39%

3Y7.85%

TTM-1.04%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM143.02%

EPS CAGR

10Y-

5Y-

3Y-

TTM140.97%

ROCE

10Y Avg-5.21%

5Y Avg-5.86%

3Y Avg-6.88%

Latest-6.55%

Peer Comparison

Fresh Produce & Vegetable Growers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FDPFresh Del Monte Produce Inc.	1.84B	38.43	12.98	-0.96%	1.86%	3.95%	7.12%	0.20
DOLEDole plc	1.42B	14.87	11.35	2.79%	0.17%	0.98%	14.34%	0.91
VFFVillage Farms International, Inc.	396.23M	3.43	-10.72	17.71%	7.47%	7%	0.03%	0.18

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	141.93M	155.5M	158.41M	150M	144.57M	170.09M	268.02M	293.57M	285.6M	336.18M
Revenue Growth %	0.04%	0.1%	0.02%	-0.05%	-0.04%	0.18%	0.58%	0.1%	-0.03%	0.18%
Cost of Goods Sold+	126.26M	142.28M	144.17M	141.12M	151.91M	159.13M	222.84M	266.07M	236.18M	288.78M
COGS % of Revenue	0.89%	0.91%	0.91%	0.94%	1.05%	0.94%	0.83%	0.91%	0.83%	0.86%
Gross Profit+	15.68M	13.22M	14.24M	8.88M	-7.34M	10.96M	45.18M	27.5M	49.43M	47.4M
Gross Margin %	0.11%	0.09%	0.09%	0.06%	-0.05%	0.06%	0.17%	0.09%	0.17%	0.14%
Gross Profit Growth %	0.14%	-0.16%	0.08%	-0.38%	-1.83%	2.49%	3.12%	-0.39%	0.8%	-0.04%
Operating Expenses+	12.05M	13.72M	15.41M	15.56M	21.48M	25.23M	53.92M	72.27M	65.5M	71.05M
OpEx % of Revenue	0.08%	0.09%	0.1%	0.1%	0.15%	0.15%	0.2%	0.25%	0.23%	0.21%
Selling, General & Admin	12.05M	13.72M	15.41M	15.56M	21.48M	25.23M	53.92M	72.27M	65.5M	71.05M
SG&A % of Revenue	0.08%	0.09%	0.1%	0.1%	0.15%	0.15%	0.2%	0.25%	0.23%	0.21%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	22K	22K	46K	131K	0	0	0	0	0	0
Operating Income+	3.63M	-497K	-1.18M	-6.68M	-28.82M	-14.27M	-8.74M	-44.77M	-16.07M	-23.65M
Operating Margin %	0.03%	-0%	-0.01%	-0.04%	-0.2%	-0.08%	-0.03%	-0.15%	-0.06%	-0.07%
Operating Income Growth %	8.58%	-1.14%	-1.36%	-4.68%	-3.32%	0.5%	0.39%	-4.12%	0.64%	-0.47%
EBITDA+	11.92M	7.67M	6.41M	349K	-21.45M	-7.44M	3.97M	-31.71M	-149K	-4.81M
EBITDA Margin %	0.08%	0.05%	0.04%	0%	-0.15%	-0.04%	0.01%	-0.11%	-0%	-0.01%
EBITDA Growth %	0.44%	-0.36%	-0.16%	-0.95%	-62.48%	0.65%	1.53%	-8.99%	1%	-31.28%
D&A (Non-Cash Add-back)	8.29M	8.16M	7.59M	7.03M	7.37M	6.83M	12.71M	13.05M	15.93M	18.84M
EBIT	3.19M	-497K	-2.36M	-6.85M	-14.7M	9.87M	-9.51M	-90.82M	-22.86M	-33.94M
Net Interest Income+	-2.26M	-2.51M	-2.69M	-2.48M	-1.58M	-1.43M	-2.71M	-3.04M	-3.49M	-2.45M
Interest Income	0	0	0	311K	1.04M	625K	126K	207K	1.02M	914K
Interest Expense	2.26M	2.51M	2.69M	2.79M	2.61M	2.06M	2.83M	3.24M	4.51M	3.37M
Other Income/Expense	-2.7M	-2.59M	-2.63M	-2.97M	25.28M	23.09M	-3.91M	-51.97M	-11.29M	-13.66M
Pretax Income+	933K	-3.09M	3.96M	-7.62M	-3.54M	8.82M	-12.65M	-96.73M	-27.37M	-37.3M
Pretax Margin %	0.01%	-0.02%	0.02%	-0.05%	-0.02%	0.05%	-0.05%	-0.33%	-0.1%	-0.11%
Income Tax+	-1.16M	-1.1M	138K	-2.48M	-5.87M	-2.79M	-3.53M	4.68M	7.45M	-1.66M
Effective Tax Rate %	2.24%	0.64%	0.97%	0.68%	-0.66%	1.32%	0.72%	1.05%	1.27%	0.96%
Net Income+	2.09M	-1.98M	3.82M	-5.14M	2.33M	11.61M	-9.08M	-101.15M	-34.8M	-35.85M
Net Margin %	0.01%	-0.01%	0.02%	-0.03%	0.02%	0.07%	-0.03%	-0.34%	-0.12%	-0.11%
Net Income Growth %	20.57%	-1.95%	2.93%	-2.35%	1.45%	3.99%	-1.78%	-10.14%	0.66%	-0.03%
Net Income (Continuing)	2.09M	-1.98M	3.82M	-7.34M	2.33M	11.61M	-9.13M	-101.42M	-34.82M	-35.64M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	16.43M	16.93M	16.32M	9.95M
EPS (Diluted)+	0.05	-0.05	-0.12	-0.12	-0.22	0.19	-0.11	-1.11	-0.29	-0.32
EPS Growth %	-	-2.01%	-1.37%	0%	-0.83%	1.86%	-1.58%	-9.09%	0.74%	-0.1%
EPS (Basic)	0.05	-0.05	-0.12	-0.12	-0.23	0.20	-0.11	-1.11	-0.29	-0.32
Diluted Shares Outstanding	38.87M	39.18M	39.14M	44.36M	51.18M	61.49M	82.16M	89.13M	108.73M	111.37M
Basic Shares Outstanding	38.81M	38.88M	39.14M	44.36M	49.42M	58.53M	82.16M	89.13M	108.73M	111.37M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	34.2M	37.3M	42.86M	62.02M	54.64M	101.81M	174.96M	132.98M	151.77M	116.02M
Cash & Short-Term Investments	4.96M	5.37M	7.09M	11.92M	11.99M	21.64M	53.42M	16.68M	30.29M	24.63M
Cash Only	4.96M	5.37M	7.09M	11.92M	11.99M	21.64M	53.42M	16.68M	30.29M	24.63M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	9.57M	10.7M	13.24M	22.5M	25.47M	23.39M	37.41M	34.77M	30.86M	33.99M
Days Sales Outstanding	24.61	25.11	30.51	54.74	64.31	50.18	50.94	43.23	39.43	36.91
Inventory	13.3M	16.11M	17.31M	22.48M	15.92M	46.6M	68.68M	70.58M	78.47M	53.14M
Days Inventory Outstanding	38.45	41.32	43.82	58.16	38.25	106.89	112.49	96.82	121.27	67.16
Other Current Assets	6.08M	4.45M	4.41M	0	0	4.04M	5.25M	5M	5M	0
Total Non-Current Assets+	95.81M	97.67M	99.48M	97.79M	128.77M	252.22M	391.95M	332.3M	315.22M	273.29M
Property, Plant & Equipment	94.28M	96.14M	81.75M	77.48M	66.74M	190.85M	223.31M	216.83M	218.21M	200.03M
Fixed Asset Turnover	1.51x	1.62x	1.94x	1.94x	2.17x	0.89x	1.20x	1.35x	1.31x	1.68x
Goodwill	0	0	0	0	0	24.03M	117.53M	66.22M	55.92M	42.31M
Intangible Assets	0	0	0	0	10.87M	17.31M	26.39M	37.16M	32.27M	25.11M
Long-Term Investments	437K	437K	16.16M	18.49M	41.33M	1.23M	2.11M	2.11M	2.66M	2.66M
Other Non-Current Assets	1.08M	1.09M	1.57M	1.82M	1.83M	5.5M	5.84M	5.78M	1.96M	2.18M
Total Assets+	130.01M	134.97M	142.34M	159.81M	183.41M	354.03M	566.91M	465.29M	466.99M	389.31M
Asset Turnover	1.09x	1.15x	1.11x	0.94x	0.79x	0.48x	0.47x	0.63x	0.61x	0.86x
Asset Growth %	-0.06%	0.04%	0.05%	0.12%	0.15%	0.93%	0.6%	-0.18%	0%	-0.17%
Total Current Liabilities+	16.56M	19.62M	19.44M	23.6M	22.03M	72.28M	64.31M	72.22M	72.16M	62.22M
Accounts Payable	8.86M	12.71M	12.95M	14.6M	12.65M	15.06M	22.6M	24.89M	21.75M	24.5M
Days Payables Outstanding	25.61	32.61	32.79	37.77	30.4	34.55	37.01	34.15	33.62	30.97
Short-Term Debt	4.39M	3.29M	2.62M	5.41M	6.36M	17.31M	7.76M	7.53M	15.24M	4M
Deferred Revenue (Current)	662K	0	0	0	0	0	1000K	1000K	0	1000K
Other Current Liabilities	0	0	0	3.26M	1.78M	11.81M	12.83M	11.1M	29.82M	9.2M
Current Ratio	2.07x	1.90x	2.20x	2.63x	2.48x	1.41x	2.72x	1.84x	2.10x	1.86x
Quick Ratio	1.26x	1.08x	1.31x	1.68x	1.76x	0.76x	1.65x	0.86x	1.02x	1.01x
Cash Conversion Cycle	37.46	33.82	41.54	75.13	72.15	122.52	126.42	105.9	127.09	73.1
Total Non-Current Liabilities+	50.52M	47.96M	41.86M	35.52M	34.92M	76.47M	77.76M	73.08M	75.89M	63.13M
Long-Term Debt	44.43M	41.93M	35.76M	32.26M	31.69M	53.91M	50.42M	43.82M	38.92M	32.42M
Capital Lease Obligations	7K	87K	179K	102K	2.72M	2.86M	6.71M	7.79M	11.34M	8.57M
Deferred Tax Liabilities	5.18M	4.99M	4.83M	1.92M	1.87M	18.06M	18.66M	19.76M	23.73M	19.94M
Other Non-Current Liabilities	902K	954K	1.1M	1.05M	-1.37M	1.63M	1.97M	1.71M	1.9M	2.2M
Total Liabilities	67.08M	67.58M	61.3M	59.12M	56.95M	148.75M	142.07M	145.29M	148.05M	125.35M
Total Debt+	48.85M	45.34M	38.63M	38.04M	41.71M	75.22M	65.85M	61.1M	67.62M	47.49M
Net Debt	43.89M	39.97M	31.54M	26.12M	29.72M	53.58M	12.44M	44.43M	37.33M	22.86M
Debt / Equity	0.78x	0.67x	0.48x	0.38x	0.33x	0.37x	0.16x	0.19x	0.21x	0.18x
Debt / EBITDA	4.10x	5.91x	6.03x	108.99x	-	-	16.58x	-	-	-
Net Debt / EBITDA	3.68x	5.21x	4.92x	74.84x	-	-	3.13x	-	-	-
Interest Coverage	1.61x	-0.20x	-0.44x	-2.39x	-11.03x	-6.94x	-3.08x	-13.80x	-3.57x	-7.03x
Total Equity+	62.93M	67.39M	81.04M	100.7M	126.46M	205.28M	424.84M	319.99M	318.94M	263.96M
Equity Growth %	0.03%	0.07%	0.2%	0.24%	0.26%	0.62%	1.07%	-0.25%	-0%	-0.17%
Book Value per Share	1.62	1.72	2.07	2.27	2.47	3.34	5.17	3.59	2.93	2.37
Total Shareholders' Equity	62.93M	67.39M	81.04M	100.7M	126.46M	205.28M	408.4M	303.06M	302.63M	254M
Common Stock	26.1M	26.35M	37.84M	63.07M	98.33M	145.67M	365.56M	372.43M	386.72M	387.35M
Retained Earnings	37.43M	35.45M	39.27M	33.87M	24.25M	35.86M	26.78M	-74.37M	-106.17M	-145.02M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-602K	5.59M	3.93M	3.76M	-475K	6.25M	6.7M	-8.37M	-3.54M	-18.93M
Minority Interest	0	0	0	0	0	0	16.43M	16.93M	16.32M	9.95M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	7.36M	8.67M	3.28M	-2.26M	-14.39M	5.68M	-39.57M	-19.89M	5.32M	10.35M
Operating CF Margin %	0.05%	0.06%	0.02%	-0.02%	-0.1%	0.03%	-0.15%	-0.07%	0.02%	0.03%
Operating CF Growth %	0.44%	0.18%	-0.62%	-1.69%	-5.37%	1.39%	-7.97%	0.5%	1.27%	0.95%
Net Income	2.09M	-1.98M	3.82M	-5.14M	2.33M	11.61M	-9.08M	-101.42M	-34.82M	-35.64M
Depreciation & Amortization	8.29M	8.16M	7.59M	7.03M	7.37M	6.83M	12.71M	13.05M	15.93M	18.84M
Stock-Based Compensation	176K	195K	1.52M	1.45M	4.71M	6.14M	7.53M	3.99M	3.11M	3.75M
Deferred Taxes	-2.59M	-1.26M	109K	-2.91M	-5.86M	-6.46M	-2.87M	9.83M	7.05M	-1.74M
Other Non-Cash Items	2.88M	2.48M	-5.07M	26K	-28.18M	-25.51M	-715K	59.52M	16.13M	24.71M
Working Capital Changes	-3.49M	1.07M	-4.68M	-2.72M	5.24M	13.07M	-47.15M	-4.86M	-2.08M	438K
Change in Receivables	24K	-1.04M	-1.06M	-46K	2.3M	2.13M	-10.31M	3.31M	-2.52M	-3.99M
Change in Inventory	1.12M	-2.81M	-1.2M	-5.18M	9.04M	3M	-16.76M	-14.58M	-5.28M	10.38M
Change in Payables	-2.94M	3.48M	394K	1.44M	-1.95M	-1.67M	6.33M	6.7M	-3.55M	2.65M
Cash from Investing+	-2.08M	-2.19M	-1.7M	-13.49M	-16.84M	-51.23M	-63.47M	-20.9M	-6.23M	-10.24M
Capital Expenditures	-2.08M	-2.19M	-1.7M	-3.09M	-2.29M	-3.42M	-21.66M	-14.29M	-6.52M	-10.08M
CapEx % of Revenue	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%	0.08%	0.05%	0.02%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	-10.4M	-14.46M	-269K	-20K	-734K	835K	-158K
Cash from Financing+	-6.63M	-6.06M	141K	20.58M	31.39M	58.61M	135.88M	4.5M	14.14M	-9.53M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2.21M	-2.3M	59K	140K	0	-2.87M	11.18M	-14K	-1.35M	-3.82M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	5.28M	6.47M	1.59M	-5.35M	-16.67M	2.17M	-61.22M	-34.18M	-1.2M	107K
FCF Margin %	0.04%	0.04%	0.01%	-0.04%	-0.12%	0.01%	-0.23%	-0.12%	-0%	0%
FCF Growth %	1.65%	0.23%	-0.75%	-4.37%	-2.11%	1.13%	-29.25%	0.44%	0.96%	1.09%
FCF per Share	0.14	0.17	0.04	-0.12	-0.33	0.04	-0.75	-0.38	-0.01	0.00
FCF Conversion (FCF/Net Income)	3.51x	-4.37x	0.86x	0.44x	-6.19x	0.49x	4.36x	0.20x	-0.15x	-0.29x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	1.07M	1.08M	0	290K	904K	158K	1.8M	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	3.38%	-3.04%	5.15%	-5.66%	2.05%	7%	-2.88%	-27.16%	-10.89%	-12.3%
Return on Invested Capital (ROIC)	2.54%	-0.35%	-0.8%	-4.18%	-15.28%	-5.16%	-1.88%	-8.38%	-3.35%	-5.52%
Gross Margin	11.05%	8.5%	8.99%	5.92%	-5.08%	6.44%	16.86%	9.37%	17.31%	14.1%
Net Margin	1.48%	-1.28%	2.41%	-3.43%	1.61%	6.82%	-3.39%	-34.45%	-12.18%	-10.66%
Debt / Equity	0.78x	0.67x	0.48x	0.38x	0.33x	0.37x	0.16x	0.19x	0.21x	0.18x
Interest Coverage	1.61x	-0.20x	-0.44x	-2.39x	-11.03x	-6.94x	-3.08x	-13.80x	-3.57x	-7.03x
FCF Conversion	3.51x	-4.37x	0.86x	0.44x	-6.19x	0.49x	4.36x	0.20x	-0.15x	-0.29x
Revenue Growth	3.89%	9.56%	1.87%	-5.31%	-3.62%	17.65%	57.58%	9.53%	-2.71%	17.71%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Produce Business	120.75M	156.89M	159.78M	160.25M	151.24M	169.18M
Produce Business Growth	-	29.94%	1.84%	0.30%	-5.62%	11.86%
Cannabis Canada	-	-	96.43M	109.88M	114.03M	148.86M
Cannabis Canada Growth	-	-	-	13.95%	3.77%	30.54%
Cannabis United States	-	-	11.35M	23.3M	20.33M	17.39M
Cannabis United States Growth	-	-	-	105.39%	-12.75%	-14.46%
Energy Business	1.15M	417K	463K	136K	-	752K
Energy Business Growth	-	-63.71%	11.03%	-70.63%	-	-
Cannabis Business	-	12.78M	-	-	-	-
Cannabis Business Growth	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Village Farms International, Inc. (VFF) reported $286.3M in revenue for fiscal year 2024. This represents a 74% increase from $164.4M in 2011.

Village Farms International, Inc. (VFF) grew revenue by 17.7% over the past year. This is strong growth.

Yes, Village Farms International, Inc. (VFF) is profitable, generating $21.4M in net income for fiscal year 2024 (-10.7% net margin).

Dividend & Returns

Village Farms International, Inc. (VFF) has a return on equity (ROE) of -12.3%. Negative ROE indicates the company is unprofitable.

Village Farms International, Inc. (VFF) generated $32.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Village Farms International, Inc. (VFF) 10-Year Financial Performance & Capital Metrics

VFF • • Industrial / General

Consumer DefensiveFarm ProductsSpecialized Crop ProductionFresh Produce & Vegetable Growers

Revenue $336M +17.7%
EBITDA -$5M -3128.2%
Net Income -$36M -3.0%
EPS (Diluted) -0.32 -10.3%
Gross Margin 14.1% -18.5%
EBITDA Margin -1.43% -2641.0%
Operating Margin -7.03% -25.0%
Net Margin -10.66% +12.5%
ROE -12.3% -12.9%
ROIC -5.52% -64.9%
Debt/Equity 0.18 -15.1%
Interest Coverage -7.03 -97.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 96 (top 4%)
✓Strong 5Y sales CAGR of 18.4%
✓Trading at only 1.4x book value

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y9.42%

5Y18.39%

3Y7.85%

TTM-1.04%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM143.02%

EPS CAGR

10Y-

5Y-

3Y-

TTM140.97%

ROCE

10Y Avg-5.21%

5Y Avg-5.86%

3Y Avg-6.88%

Latest-6.55%

Peer Comparison

Fresh Produce & Vegetable Growers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FDPFresh Del Monte Produce Inc.	1.84B	38.43	12.98	-0.96%	1.86%	3.95%	7.12%	0.20
DOLEDole plc	1.42B	14.87	11.35	2.79%	0.17%	0.98%	14.34%	0.91
VFFVillage Farms International, Inc.	396.23M	3.43	-10.72	17.71%	7.47%	7%	0.03%	0.18

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	141.93M	155.5M	158.41M	150M	144.57M	170.09M	268.02M	293.57M	285.6M	336.18M
Revenue Growth %	0.04%	0.1%	0.02%	-0.05%	-0.04%	0.18%	0.58%	0.1%	-0.03%	0.18%
Cost of Goods Sold+	126.26M	142.28M	144.17M	141.12M	151.91M	159.13M	222.84M	266.07M	236.18M	288.78M
COGS % of Revenue	0.89%	0.91%	0.91%	0.94%	1.05%	0.94%	0.83%	0.91%	0.83%	0.86%
Gross Profit+	15.68M	13.22M	14.24M	8.88M	-7.34M	10.96M	45.18M	27.5M	49.43M	47.4M
Gross Margin %	0.11%	0.09%	0.09%	0.06%	-0.05%	0.06%	0.17%	0.09%	0.17%	0.14%
Gross Profit Growth %	0.14%	-0.16%	0.08%	-0.38%	-1.83%	2.49%	3.12%	-0.39%	0.8%	-0.04%
Operating Expenses+	12.05M	13.72M	15.41M	15.56M	21.48M	25.23M	53.92M	72.27M	65.5M	71.05M
OpEx % of Revenue	0.08%	0.09%	0.1%	0.1%	0.15%	0.15%	0.2%	0.25%	0.23%	0.21%
Selling, General & Admin	12.05M	13.72M	15.41M	15.56M	21.48M	25.23M	53.92M	72.27M	65.5M	71.05M
SG&A % of Revenue	0.08%	0.09%	0.1%	0.1%	0.15%	0.15%	0.2%	0.25%	0.23%	0.21%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	22K	22K	46K	131K	0	0	0	0	0	0
Operating Income+	3.63M	-497K	-1.18M	-6.68M	-28.82M	-14.27M	-8.74M	-44.77M	-16.07M	-23.65M
Operating Margin %	0.03%	-0%	-0.01%	-0.04%	-0.2%	-0.08%	-0.03%	-0.15%	-0.06%	-0.07%
Operating Income Growth %	8.58%	-1.14%	-1.36%	-4.68%	-3.32%	0.5%	0.39%	-4.12%	0.64%	-0.47%
EBITDA+	11.92M	7.67M	6.41M	349K	-21.45M	-7.44M	3.97M	-31.71M	-149K	-4.81M
EBITDA Margin %	0.08%	0.05%	0.04%	0%	-0.15%	-0.04%	0.01%	-0.11%	-0%	-0.01%
EBITDA Growth %	0.44%	-0.36%	-0.16%	-0.95%	-62.48%	0.65%	1.53%	-8.99%	1%	-31.28%
D&A (Non-Cash Add-back)	8.29M	8.16M	7.59M	7.03M	7.37M	6.83M	12.71M	13.05M	15.93M	18.84M
EBIT	3.19M	-497K	-2.36M	-6.85M	-14.7M	9.87M	-9.51M	-90.82M	-22.86M	-33.94M
Net Interest Income+	-2.26M	-2.51M	-2.69M	-2.48M	-1.58M	-1.43M	-2.71M	-3.04M	-3.49M	-2.45M
Interest Income	0	0	0	311K	1.04M	625K	126K	207K	1.02M	914K
Interest Expense	2.26M	2.51M	2.69M	2.79M	2.61M	2.06M	2.83M	3.24M	4.51M	3.37M
Other Income/Expense	-2.7M	-2.59M	-2.63M	-2.97M	25.28M	23.09M	-3.91M	-51.97M	-11.29M	-13.66M
Pretax Income+	933K	-3.09M	3.96M	-7.62M	-3.54M	8.82M	-12.65M	-96.73M	-27.37M	-37.3M
Pretax Margin %	0.01%	-0.02%	0.02%	-0.05%	-0.02%	0.05%	-0.05%	-0.33%	-0.1%	-0.11%
Income Tax+	-1.16M	-1.1M	138K	-2.48M	-5.87M	-2.79M	-3.53M	4.68M	7.45M	-1.66M
Effective Tax Rate %	2.24%	0.64%	0.97%	0.68%	-0.66%	1.32%	0.72%	1.05%	1.27%	0.96%
Net Income+	2.09M	-1.98M	3.82M	-5.14M	2.33M	11.61M	-9.08M	-101.15M	-34.8M	-35.85M
Net Margin %	0.01%	-0.01%	0.02%	-0.03%	0.02%	0.07%	-0.03%	-0.34%	-0.12%	-0.11%
Net Income Growth %	20.57%	-1.95%	2.93%	-2.35%	1.45%	3.99%	-1.78%	-10.14%	0.66%	-0.03%
Net Income (Continuing)	2.09M	-1.98M	3.82M	-7.34M	2.33M	11.61M	-9.13M	-101.42M	-34.82M	-35.64M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	16.43M	16.93M	16.32M	9.95M
EPS (Diluted)+	0.05	-0.05	-0.12	-0.12	-0.22	0.19	-0.11	-1.11	-0.29	-0.32
EPS Growth %	-	-2.01%	-1.37%	0%	-0.83%	1.86%	-1.58%	-9.09%	0.74%	-0.1%
EPS (Basic)	0.05	-0.05	-0.12	-0.12	-0.23	0.20	-0.11	-1.11	-0.29	-0.32
Diluted Shares Outstanding	38.87M	39.18M	39.14M	44.36M	51.18M	61.49M	82.16M	89.13M	108.73M	111.37M
Basic Shares Outstanding	38.81M	38.88M	39.14M	44.36M	49.42M	58.53M	82.16M	89.13M	108.73M	111.37M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	34.2M	37.3M	42.86M	62.02M	54.64M	101.81M	174.96M	132.98M	151.77M	116.02M
Cash & Short-Term Investments	4.96M	5.37M	7.09M	11.92M	11.99M	21.64M	53.42M	16.68M	30.29M	24.63M
Cash Only	4.96M	5.37M	7.09M	11.92M	11.99M	21.64M	53.42M	16.68M	30.29M	24.63M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	9.57M	10.7M	13.24M	22.5M	25.47M	23.39M	37.41M	34.77M	30.86M	33.99M
Days Sales Outstanding	24.61	25.11	30.51	54.74	64.31	50.18	50.94	43.23	39.43	36.91
Inventory	13.3M	16.11M	17.31M	22.48M	15.92M	46.6M	68.68M	70.58M	78.47M	53.14M
Days Inventory Outstanding	38.45	41.32	43.82	58.16	38.25	106.89	112.49	96.82	121.27	67.16
Other Current Assets	6.08M	4.45M	4.41M	0	0	4.04M	5.25M	5M	5M	0
Total Non-Current Assets+	95.81M	97.67M	99.48M	97.79M	128.77M	252.22M	391.95M	332.3M	315.22M	273.29M
Property, Plant & Equipment	94.28M	96.14M	81.75M	77.48M	66.74M	190.85M	223.31M	216.83M	218.21M	200.03M
Fixed Asset Turnover	1.51x	1.62x	1.94x	1.94x	2.17x	0.89x	1.20x	1.35x	1.31x	1.68x
Goodwill	0	0	0	0	0	24.03M	117.53M	66.22M	55.92M	42.31M
Intangible Assets	0	0	0	0	10.87M	17.31M	26.39M	37.16M	32.27M	25.11M
Long-Term Investments	437K	437K	16.16M	18.49M	41.33M	1.23M	2.11M	2.11M	2.66M	2.66M
Other Non-Current Assets	1.08M	1.09M	1.57M	1.82M	1.83M	5.5M	5.84M	5.78M	1.96M	2.18M
Total Assets+	130.01M	134.97M	142.34M	159.81M	183.41M	354.03M	566.91M	465.29M	466.99M	389.31M
Asset Turnover	1.09x	1.15x	1.11x	0.94x	0.79x	0.48x	0.47x	0.63x	0.61x	0.86x
Asset Growth %	-0.06%	0.04%	0.05%	0.12%	0.15%	0.93%	0.6%	-0.18%	0%	-0.17%
Total Current Liabilities+	16.56M	19.62M	19.44M	23.6M	22.03M	72.28M	64.31M	72.22M	72.16M	62.22M
Accounts Payable	8.86M	12.71M	12.95M	14.6M	12.65M	15.06M	22.6M	24.89M	21.75M	24.5M
Days Payables Outstanding	25.61	32.61	32.79	37.77	30.4	34.55	37.01	34.15	33.62	30.97
Short-Term Debt	4.39M	3.29M	2.62M	5.41M	6.36M	17.31M	7.76M	7.53M	15.24M	4M
Deferred Revenue (Current)	662K	0	0	0	0	0	1000K	1000K	0	1000K
Other Current Liabilities	0	0	0	3.26M	1.78M	11.81M	12.83M	11.1M	29.82M	9.2M
Current Ratio	2.07x	1.90x	2.20x	2.63x	2.48x	1.41x	2.72x	1.84x	2.10x	1.86x
Quick Ratio	1.26x	1.08x	1.31x	1.68x	1.76x	0.76x	1.65x	0.86x	1.02x	1.01x
Cash Conversion Cycle	37.46	33.82	41.54	75.13	72.15	122.52	126.42	105.9	127.09	73.1
Total Non-Current Liabilities+	50.52M	47.96M	41.86M	35.52M	34.92M	76.47M	77.76M	73.08M	75.89M	63.13M
Long-Term Debt	44.43M	41.93M	35.76M	32.26M	31.69M	53.91M	50.42M	43.82M	38.92M	32.42M
Capital Lease Obligations	7K	87K	179K	102K	2.72M	2.86M	6.71M	7.79M	11.34M	8.57M
Deferred Tax Liabilities	5.18M	4.99M	4.83M	1.92M	1.87M	18.06M	18.66M	19.76M	23.73M	19.94M
Other Non-Current Liabilities	902K	954K	1.1M	1.05M	-1.37M	1.63M	1.97M	1.71M	1.9M	2.2M
Total Liabilities	67.08M	67.58M	61.3M	59.12M	56.95M	148.75M	142.07M	145.29M	148.05M	125.35M
Total Debt+	48.85M	45.34M	38.63M	38.04M	41.71M	75.22M	65.85M	61.1M	67.62M	47.49M
Net Debt	43.89M	39.97M	31.54M	26.12M	29.72M	53.58M	12.44M	44.43M	37.33M	22.86M
Debt / Equity	0.78x	0.67x	0.48x	0.38x	0.33x	0.37x	0.16x	0.19x	0.21x	0.18x
Debt / EBITDA	4.10x	5.91x	6.03x	108.99x	-	-	16.58x	-	-	-
Net Debt / EBITDA	3.68x	5.21x	4.92x	74.84x	-	-	3.13x	-	-	-
Interest Coverage	1.61x	-0.20x	-0.44x	-2.39x	-11.03x	-6.94x	-3.08x	-13.80x	-3.57x	-7.03x
Total Equity+	62.93M	67.39M	81.04M	100.7M	126.46M	205.28M	424.84M	319.99M	318.94M	263.96M
Equity Growth %	0.03%	0.07%	0.2%	0.24%	0.26%	0.62%	1.07%	-0.25%	-0%	-0.17%
Book Value per Share	1.62	1.72	2.07	2.27	2.47	3.34	5.17	3.59	2.93	2.37
Total Shareholders' Equity	62.93M	67.39M	81.04M	100.7M	126.46M	205.28M	408.4M	303.06M	302.63M	254M
Common Stock	26.1M	26.35M	37.84M	63.07M	98.33M	145.67M	365.56M	372.43M	386.72M	387.35M
Retained Earnings	37.43M	35.45M	39.27M	33.87M	24.25M	35.86M	26.78M	-74.37M	-106.17M	-145.02M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-602K	5.59M	3.93M	3.76M	-475K	6.25M	6.7M	-8.37M	-3.54M	-18.93M
Minority Interest	0	0	0	0	0	0	16.43M	16.93M	16.32M	9.95M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	7.36M	8.67M	3.28M	-2.26M	-14.39M	5.68M	-39.57M	-19.89M	5.32M	10.35M
Operating CF Margin %	0.05%	0.06%	0.02%	-0.02%	-0.1%	0.03%	-0.15%	-0.07%	0.02%	0.03%
Operating CF Growth %	0.44%	0.18%	-0.62%	-1.69%	-5.37%	1.39%	-7.97%	0.5%	1.27%	0.95%
Net Income	2.09M	-1.98M	3.82M	-5.14M	2.33M	11.61M	-9.08M	-101.42M	-34.82M	-35.64M
Depreciation & Amortization	8.29M	8.16M	7.59M	7.03M	7.37M	6.83M	12.71M	13.05M	15.93M	18.84M
Stock-Based Compensation	176K	195K	1.52M	1.45M	4.71M	6.14M	7.53M	3.99M	3.11M	3.75M
Deferred Taxes	-2.59M	-1.26M	109K	-2.91M	-5.86M	-6.46M	-2.87M	9.83M	7.05M	-1.74M
Other Non-Cash Items	2.88M	2.48M	-5.07M	26K	-28.18M	-25.51M	-715K	59.52M	16.13M	24.71M
Working Capital Changes	-3.49M	1.07M	-4.68M	-2.72M	5.24M	13.07M	-47.15M	-4.86M	-2.08M	438K
Change in Receivables	24K	-1.04M	-1.06M	-46K	2.3M	2.13M	-10.31M	3.31M	-2.52M	-3.99M
Change in Inventory	1.12M	-2.81M	-1.2M	-5.18M	9.04M	3M	-16.76M	-14.58M	-5.28M	10.38M
Change in Payables	-2.94M	3.48M	394K	1.44M	-1.95M	-1.67M	6.33M	6.7M	-3.55M	2.65M
Cash from Investing+	-2.08M	-2.19M	-1.7M	-13.49M	-16.84M	-51.23M	-63.47M	-20.9M	-6.23M	-10.24M
Capital Expenditures	-2.08M	-2.19M	-1.7M	-3.09M	-2.29M	-3.42M	-21.66M	-14.29M	-6.52M	-10.08M
CapEx % of Revenue	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%	0.08%	0.05%	0.02%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	-10.4M	-14.46M	-269K	-20K	-734K	835K	-158K
Cash from Financing+	-6.63M	-6.06M	141K	20.58M	31.39M	58.61M	135.88M	4.5M	14.14M	-9.53M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2.21M	-2.3M	59K	140K	0	-2.87M	11.18M	-14K	-1.35M	-3.82M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	5.28M	6.47M	1.59M	-5.35M	-16.67M	2.17M	-61.22M	-34.18M	-1.2M	107K
FCF Margin %	0.04%	0.04%	0.01%	-0.04%	-0.12%	0.01%	-0.23%	-0.12%	-0%	0%
FCF Growth %	1.65%	0.23%	-0.75%	-4.37%	-2.11%	1.13%	-29.25%	0.44%	0.96%	1.09%
FCF per Share	0.14	0.17	0.04	-0.12	-0.33	0.04	-0.75	-0.38	-0.01	0.00
FCF Conversion (FCF/Net Income)	3.51x	-4.37x	0.86x	0.44x	-6.19x	0.49x	4.36x	0.20x	-0.15x	-0.29x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	1.07M	1.08M	0	290K	904K	158K	1.8M	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	3.38%	-3.04%	5.15%	-5.66%	2.05%	7%	-2.88%	-27.16%	-10.89%	-12.3%
Return on Invested Capital (ROIC)	2.54%	-0.35%	-0.8%	-4.18%	-15.28%	-5.16%	-1.88%	-8.38%	-3.35%	-5.52%
Gross Margin	11.05%	8.5%	8.99%	5.92%	-5.08%	6.44%	16.86%	9.37%	17.31%	14.1%
Net Margin	1.48%	-1.28%	2.41%	-3.43%	1.61%	6.82%	-3.39%	-34.45%	-12.18%	-10.66%
Debt / Equity	0.78x	0.67x	0.48x	0.38x	0.33x	0.37x	0.16x	0.19x	0.21x	0.18x
Interest Coverage	1.61x	-0.20x	-0.44x	-2.39x	-11.03x	-6.94x	-3.08x	-13.80x	-3.57x	-7.03x
FCF Conversion	3.51x	-4.37x	0.86x	0.44x	-6.19x	0.49x	4.36x	0.20x	-0.15x	-0.29x
Revenue Growth	3.89%	9.56%	1.87%	-5.31%	-3.62%	17.65%	57.58%	9.53%	-2.71%	17.71%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Produce Business	120.75M	156.89M	159.78M	160.25M	151.24M	169.18M
Produce Business Growth	-	29.94%	1.84%	0.30%	-5.62%	11.86%
Cannabis Canada	-	-	96.43M	109.88M	114.03M	148.86M
Cannabis Canada Growth	-	-	-	13.95%	3.77%	30.54%
Cannabis United States	-	-	11.35M	23.3M	20.33M	17.39M
Cannabis United States Growth	-	-	-	105.39%	-12.75%	-14.46%
Energy Business	1.15M	417K	463K	136K	-	752K
Energy Business Growth	-	-63.71%	11.03%	-70.63%	-	-
Cannabis Business	-	12.78M	-	-	-	-
Cannabis Business Growth	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Village Farms International, Inc. (VFF) reported $286.3M in revenue for fiscal year 2024. This represents a 74% increase from $164.4M in 2011.

Village Farms International, Inc. (VFF) grew revenue by 17.7% over the past year. This is strong growth.

Yes, Village Farms International, Inc. (VFF) is profitable, generating $21.4M in net income for fiscal year 2024 (-10.7% net margin).

Dividend & Returns

Village Farms International, Inc. (VFF) has a return on equity (ROE) of -12.3%. Negative ROE indicates the company is unprofitable.

Village Farms International, Inc. (VFF) generated $32.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.