Vital Farms, Inc. (VITL) 10-Year Financial Performance & Capital Metrics

VITL • • Industrial / General

Consumer DefensiveFarm ProductsAnimal Protein ProductionPoultry & Egg Producers

AboutVital Farms, Inc., an ethical food company, provides pasture-raised products in the United States. It offers shell eggs, butter, hard-boiled eggs, ghee, liquid whole eggs, and egg bite products. Vital Farms, Inc. was founded in 2007 and is headquartered in Austin, Texas.Show more

Revenue $606M +28.5%
EBITDA $77M +86.1%
Net Income $53M +108.8%
EPS (Diluted) 1.18 +100.0%
Gross Margin 37.92% +10.2%
EBITDA Margin 12.64% +44.9%
Operating Margin 10.48% +48.7%
Net Margin 8.81% +62.5%
ROE 23.11% +58.7%
ROIC 35.5% +104.4%
Debt/Equity 0.07 -40.7%
Interest Coverage 62.92 +48.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y profit CAGR of 86.2%
✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 33.9%
✓Efficient asset utilization: 1.7x turnover

✗Weaknesses

✗Weak momentum: RS Rating 18 (bottom 18%)
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y33.92%

3Y32.46%

TTM21.49%

Profit (Net Income) CAGR

10Y-

5Y86.2%

3Y180.12%

TTM9.49%

EPS CAGR

10Y-

5Y78.95%

3Y176.04%

TTM5.66%

ROCE

10Y Avg12.62%

5Y Avg11.66%

3Y Avg14.95%

Latest25.9%

Peer Comparison

Poultry & Egg Producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
VITLVital Farms, Inc.	1.32B	29.49	24.99	28.49%	7.84%	16.65%	2.71%	0.07
CALMCal-Maine Foods, Inc.	3.68B	77.12	3.09	83.19%	27.37%	42.74%	29.05%

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	106.71M	140.73M	214.28M	260.9M	362.05M	471.86M	606.31M
Revenue Growth %	-	0.32%	0.52%	0.22%	0.39%	0.3%	0.28%
Cost of Goods Sold+	71.89M	97.86M	139.75M	178M	252.61M	309.53M	376.38M
COGS % of Revenue	0.67%	0.7%	0.65%	0.68%	0.7%	0.66%	0.62%
Gross Profit+	34.82M	42.88M	74.53M	82.9M	109.44M	162.33M	229.93M
Gross Margin %	0.33%	0.3%	0.35%	0.32%	0.3%	0.34%	0.38%
Gross Profit Growth %	-	0.23%	0.74%	0.11%	0.32%	0.48%	0.42%
Operating Expenses+	28.05M	39.53M	62.3M	82.85M	107.34M	129.07M	166.37M
OpEx % of Revenue	0.26%	0.28%	0.29%	0.32%	0.3%	0.27%	0.27%
Selling, General & Admin	28.05M	39.53M	62.3M	82.85M	107.34M	129.07M	166.37M
SG&A % of Revenue	0.26%	0.28%	0.29%	0.32%	0.3%	0.27%	0.27%
Research & Development	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0
Operating Income+	6.77M	3.35M	12.23M	52K	2.1M	33.25M	63.55M
Operating Margin %	0.06%	0.02%	0.06%	0%	0.01%	0.07%	0.1%
Operating Income Growth %	-	-0.5%	2.65%	-1%	39.46%	14.81%	0.91%
EBITDA+	8.2M	5.27M	14.78M	3.59M	7.54M	41.18M	76.64M
EBITDA Margin %	0.08%	0.04%	0.07%	0.01%	0.02%	0.09%	0.13%
EBITDA Growth %	-	-0.36%	1.8%	-0.76%	1.1%	4.46%	0.86%
D&A (Non-Cash Add-back)	1.44M	1.92M	2.55M	3.54M	5.44M	7.92M	13.09M
EBIT	6.78M	4.77M	12.14M	406K	2.94M	32.98M	68.55M
Net Interest Income+	-424K	-349K	-391K	329K	878K	1.76M	4.24M
Interest Income	0	0	97K	381K	992K	2.54M	5.25M
Interest Expense	424K	349K	488K	52K	114K	782K	1.01M
Other Income/Expense	-415K	1.07M	-574K	302K	727K	-1.05M	3.99M
Pretax Income+	6.35M	4.42M	11.65M	354K	2.83M	32.2M	67.54M
Pretax Margin %	0.06%	0.03%	0.05%	0%	0.01%	0.07%	0.11%
Income Tax+	723K	1.11M	2.77M	-2.03M	1.6M	6.63M	14.15M
Effective Tax Rate %	0.91%	0.54%	0.76%	6.86%	0.44%	0.79%	0.79%
Net Income+	5.8M	2.38M	8.8M	2.43M	1.25M	25.57M	53.39M
Net Margin %	0.05%	0.02%	0.04%	0.01%	0%	0.05%	0.09%
Net Income Growth %	-	-0.59%	2.69%	-0.72%	-0.48%	19.44%	1.09%
Net Income (Continuing)	5.63M	3.31M	8.88M	2.38M	1.23M	25.57M	53.39M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	22.36M	23.29M	338K	290K	0	0	0
EPS (Diluted)+	0.16	0.06	0.27	0.06	0.03	0.59	1.18
EPS Growth %	-	-0.6%	3.2%	-0.79%	-0.49%	19.49%	1%
EPS (Basic)	0.17	0.07	0.31	0.06	0.03	0.62	1.25
Diluted Shares Outstanding	37.12M	37.12M	32.91M	43.32M	43.47M	43.31M	45.13M
Basic Shares Outstanding	34.14M	34.14M	28.67M	40.03M	40.65M	41.19M	42.85M
Dividend Payout Ratio	-	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	27.09M	34.65M	137.26M	141.29M	149.61M	195.52M	246.04M
Cash & Short-Term Investments	11.81M	1.27M	97.9M	99.59M	78.73M	116.82M	160.29M
Cash Only	11.81M	1.27M	29.54M	30.97M	12.91M	84.15M	150.6M
Short-Term Investments	0	0	68.36M	68.62M	65.81M	32.67M	9.69M
Accounts Receivable	10.29M	17.72M	22.49M	26.94M	38.9M	39.7M	54.34M
Days Sales Outstanding	35.19	45.97	38.31	37.69	39.21	30.71	32.71
Inventory	3.87M	12.95M	12.9M	10.95M	26.85M	32.9M	23.67M
Days Inventory Outstanding	19.63	48.29	33.7	22.44	38.8	38.79	22.95
Other Current Assets	0	0	0	278K	5.14M	6.11M	7.74M
Total Non-Current Assets+	22.76M	27.3M	34.12M	48.66M	65.05M	79.65M	113.29M
Property, Plant & Equipment	18.66M	22.46M	30.12M	44.61M	61.05M	75.75M	104.14M
Fixed Asset Turnover	5.72x	6.27x	7.11x	5.85x	5.93x	6.23x	5.82x
Goodwill	3.86M	3.86M	3.86M	3.86M	4M	3.86M	3.86M
Intangible Assets	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0
Other Non-Current Assets	246K	982K	142K	110K	0	46K	3.9M
Total Assets+	49.85M	61.95M	171.37M	189.94M	214.67M	275.18M	359.33M
Asset Turnover	2.14x	2.27x	1.25x	1.37x	1.69x	1.71x	1.69x
Asset Growth %	-	0.24%	1.77%	0.11%	0.13%	0.28%	0.31%
Total Current Liabilities+	16.8M	25M	25.91M	37.99M	47.65M	65.22M	78.53M
Accounts Payable	9.36M	13.51M	15.49M	22.52M	25.97M	33.48M	38.58M
Days Payables Outstanding	47.5	50.39	40.45	46.18	37.53	39.49	37.42
Short-Term Debt	671K	2.16M	0	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0
Other Current Liabilities	2.56M	1.4M	3.83M	3.04M	7.45M	9.13M	15.07M
Current Ratio	1.61x	1.39x	5.30x	3.72x	3.14x	3.00x	3.13x
Quick Ratio	1.38x	0.87x	4.80x	3.43x	2.58x	2.49x	2.83x
Cash Conversion Cycle	7.31	43.87	31.55	13.95	40.48	30.01	18.25
Total Non-Current Liabilities+	5.58M	5.1M	3.07M	192K	8.68M	17.28M	11.5M
Long-Term Debt	3.14M	2.9M	0	0	0	0	0
Capital Lease Obligations	1.14M	797K	327K	0	7.92M	16.25M	10.93M
Deferred Tax Liabilities	703K	755K	2.54M	0	0	0	0
Other Non-Current Liabilities	601K	654K	210K	192K	767K	1.03M	572K
Total Liabilities	22.38M	30.1M	28.99M	38.18M	56.33M	82.5M	90.03M
Total Debt+	5.48M	6.3M	798K	327K	10.69M	22.56M	18.71M
Net Debt	-6.33M	5.03M	-28.75M	-30.64M	-2.22M	-61.59M	-131.89M
Debt / Equity	0.20x	0.20x	0.01x	0.00x	0.07x	0.12x	0.07x
Debt / EBITDA	0.67x	1.20x	0.05x	0.09x	1.42x	0.55x	0.24x
Net Debt / EBITDA	-0.77x	0.95x	-1.95x	-8.53x	-0.29x	-1.50x	-1.72x
Interest Coverage	15.96x	9.60x	25.06x	1.00x	18.46x	42.52x	62.92x
Total Equity+	27.48M	31.85M	142.39M	151.76M	158.33M	192.68M	269.3M
Equity Growth %	-	0.16%	3.47%	0.07%	0.04%	0.22%	0.4%
Book Value per Share	0.74	0.86	4.33	3.50	3.64	4.45	5.97
Total Shareholders' Equity	5.12M	8.56M	142.05M	151.47M	158.33M	192.68M	269.3M
Common Stock	3K	3K	5K	5K	4K	4K	4K
Retained Earnings	2.85M	5.24M	14.04M	2.75M	4.16M	29.73M	83.11M
Treasury Stock	-	-16.28M	-16.28M	0	0	0	0
Accumulated OCI	-2.34M	0	-31K	-281K	-1.55M	-377K	3K
Minority Interest	22.36M	23.29M	338K	290K	0	0	0

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	11.42M	-5.35M	11.7M	17.68M	-8.1M	50.91M	64.41M
Operating CF Margin %	0.11%	-0.04%	0.05%	0.07%	-0.02%	0.11%	0.11%
Operating CF Growth %	-	-1.47%	3.19%	0.51%	-1.46%	7.29%	0.27%
Net Income	5.63M	3.31M	8.88M	2.38M	1.23M	25.57M	53.39M
Depreciation & Amortization	1.44M	1.92M	2.55M	3.54M	7.28M	7.92M	17.28M
Stock-Based Compensation	600K	1.03M	2.51M	4.44M	6.04M	7.42M	0
Deferred Taxes	703K	52K	1.78M	-2.54M	632K	-179K	-1.86M
Other Non-Cash Items	363K	572K	-131K	1.64M	895K	7.68M	11.82M
Working Capital Changes	2.69M	-12.24M	-3.89M	8.21M	-24.18M	2.49M	-16.22M
Change in Receivables	-3.58M	-6.18M	-4.72M	-4.72M	-13.72M	-862K	-14.79M
Change in Inventory	-1.04M	-9.27M	29K	1.73M	-15.57M	-6.44M	8.93M
Change in Payables	4.95M	3.19M	1.81M	6.8M	2.35M	6.67M	5.81M
Cash from Investing+	-1.91M	-5.62M	-77.84M	-18.44M	-10.04M	22.38M	-7.03M
Capital Expenditures	-1.94M	-4.8M	-10.3M	-16.71M	-10.56M	-11.54M	-28.65M
CapEx % of Revenue	0.02%	0.03%	0.05%	0.06%	0.03%	0.02%	0.05%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	29K	-824K	846K	0	100K	-257K	1K
Cash from Financing+	-1.51M	434K	94.41M	2.18M	83K	-2.05M	9.07M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-
Other Financing	-469K	-409K	-192K	-152K	-38K	-796K	-1.51M
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	9.48M	-10.15M	1.4M	971K	-18.66M	39.37M	35.76M
FCF Margin %	0.09%	-0.07%	0.01%	0%	-0.05%	0.08%	0.06%
FCF Growth %	-	-2.07%	1.14%	-0.31%	-20.21%	3.11%	-0.09%
FCF per Share	0.26	-0.27	0.04	0.02	-0.43	0.91	0.79
FCF Conversion (FCF/Net Income)	1.97x	-2.24x	1.33x	7.28x	-6.47x	1.99x	1.21x
Interest Paid	-	0	414K	43K	114K	775K	950K
Taxes Paid	-	0	2.21M	102K	99K	6M	16.58M

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	21.1%	8.04%	10.1%	1.65%	0.81%	14.57%	23.11%
Return on Invested Capital (ROIC)	24%	8.66%	12.19%	0.03%	1.14%	17.37%	35.5%
Gross Margin	32.63%	30.47%	34.78%	31.77%	30.23%	34.4%	37.92%
Net Margin	5.43%	1.69%	4.11%	0.93%	0.35%	5.42%	8.81%
Debt / Equity	0.20x	0.20x	0.01x	0.00x	0.07x	0.12x	0.07x
Interest Coverage	15.96x	9.60x	25.06x	1.00x	18.46x	42.52x	62.92x
FCF Conversion	1.97x	-2.24x	1.33x	7.28x	-6.47x	1.99x	1.21x
Revenue Growth	-	31.88%	52.26%	21.76%	38.77%	30.33%	28.49%

Revenue by Segment

	2020	2021	2022	2023	2024
Eggs And Egg Related Products	-	239.97M	339.21M	449.05M	580.95M
Eggs And Egg Related Products Growth	-	-	41.36%	32.38%	29.38%
Butter And Butter Related Products	17.59M	20.93M	22.84M	22.81M	25.35M
Butter And Butter Related Products Growth	-	19.04%	9.09%	-0.11%	11.14%
Egg And Egg Related	196.69M	-	-	-	-
Egg And Egg Related Growth	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Vital Farms, Inc. (VITL) has a price-to-earnings (P/E) ratio of 25.0x. This is roughly in line with market averages.

Growth & Financials

Vital Farms, Inc. (VITL) reported $657.9M in revenue for fiscal year 2024. This represents a 517% increase from $106.7M in 2018.

Vital Farms, Inc. (VITL) grew revenue by 28.5% over the past year. This is strong growth.

Yes, Vital Farms, Inc. (VITL) is profitable, generating $51.6M in net income for fiscal year 2024 (8.8% net margin).

Dividend & Returns

Vital Farms, Inc. (VITL) has a return on equity (ROE) of 23.1%. This is excellent, indicating efficient use of shareholder capital.

Vital Farms, Inc. (VITL) had negative free cash flow of $2.5M in fiscal year 2024, likely due to heavy capital investments.

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Vital Farms, Inc. (VITL) 10-Year Financial Performance & Capital Metrics

VITL • • Industrial / General

Consumer DefensiveFarm ProductsAnimal Protein ProductionPoultry & Egg Producers

Revenue $606M +28.5%
EBITDA $77M +86.1%
Net Income $53M +108.8%
EPS (Diluted) 1.18 +100.0%
Gross Margin 37.92% +10.2%
EBITDA Margin 12.64% +44.9%
Operating Margin 10.48% +48.7%
Net Margin 8.81% +62.5%
ROE 23.11% +58.7%
ROIC 35.5% +104.4%
Debt/Equity 0.07 -40.7%
Interest Coverage 62.92 +48.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y profit CAGR of 86.2%
✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 33.9%
✓Efficient asset utilization: 1.7x turnover

✗Weaknesses

✗Weak momentum: RS Rating 18 (bottom 18%)
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y33.92%

3Y32.46%

TTM21.49%

Profit (Net Income) CAGR

10Y-

5Y86.2%

3Y180.12%

TTM9.49%

EPS CAGR

10Y-

5Y78.95%

3Y176.04%

TTM5.66%

ROCE

10Y Avg12.62%

5Y Avg11.66%

3Y Avg14.95%

Latest25.9%

Peer Comparison

Poultry & Egg Producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
VITLVital Farms, Inc.	1.32B	29.49	24.99	28.49%	7.84%	16.65%	2.71%	0.07
CALMCal-Maine Foods, Inc.	3.68B	77.12	3.09	83.19%	27.37%	42.74%	29.05%

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	106.71M	140.73M	214.28M	260.9M	362.05M	471.86M	606.31M
Revenue Growth %	-	0.32%	0.52%	0.22%	0.39%	0.3%	0.28%
Cost of Goods Sold+	71.89M	97.86M	139.75M	178M	252.61M	309.53M	376.38M
COGS % of Revenue	0.67%	0.7%	0.65%	0.68%	0.7%	0.66%	0.62%
Gross Profit+	34.82M	42.88M	74.53M	82.9M	109.44M	162.33M	229.93M
Gross Margin %	0.33%	0.3%	0.35%	0.32%	0.3%	0.34%	0.38%
Gross Profit Growth %	-	0.23%	0.74%	0.11%	0.32%	0.48%	0.42%
Operating Expenses+	28.05M	39.53M	62.3M	82.85M	107.34M	129.07M	166.37M
OpEx % of Revenue	0.26%	0.28%	0.29%	0.32%	0.3%	0.27%	0.27%
Selling, General & Admin	28.05M	39.53M	62.3M	82.85M	107.34M	129.07M	166.37M
SG&A % of Revenue	0.26%	0.28%	0.29%	0.32%	0.3%	0.27%	0.27%
Research & Development	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0
Operating Income+	6.77M	3.35M	12.23M	52K	2.1M	33.25M	63.55M
Operating Margin %	0.06%	0.02%	0.06%	0%	0.01%	0.07%	0.1%
Operating Income Growth %	-	-0.5%	2.65%	-1%	39.46%	14.81%	0.91%
EBITDA+	8.2M	5.27M	14.78M	3.59M	7.54M	41.18M	76.64M
EBITDA Margin %	0.08%	0.04%	0.07%	0.01%	0.02%	0.09%	0.13%
EBITDA Growth %	-	-0.36%	1.8%	-0.76%	1.1%	4.46%	0.86%
D&A (Non-Cash Add-back)	1.44M	1.92M	2.55M	3.54M	5.44M	7.92M	13.09M
EBIT	6.78M	4.77M	12.14M	406K	2.94M	32.98M	68.55M
Net Interest Income+	-424K	-349K	-391K	329K	878K	1.76M	4.24M
Interest Income	0	0	97K	381K	992K	2.54M	5.25M
Interest Expense	424K	349K	488K	52K	114K	782K	1.01M
Other Income/Expense	-415K	1.07M	-574K	302K	727K	-1.05M	3.99M
Pretax Income+	6.35M	4.42M	11.65M	354K	2.83M	32.2M	67.54M
Pretax Margin %	0.06%	0.03%	0.05%	0%	0.01%	0.07%	0.11%
Income Tax+	723K	1.11M	2.77M	-2.03M	1.6M	6.63M	14.15M
Effective Tax Rate %	0.91%	0.54%	0.76%	6.86%	0.44%	0.79%	0.79%
Net Income+	5.8M	2.38M	8.8M	2.43M	1.25M	25.57M	53.39M
Net Margin %	0.05%	0.02%	0.04%	0.01%	0%	0.05%	0.09%
Net Income Growth %	-	-0.59%	2.69%	-0.72%	-0.48%	19.44%	1.09%
Net Income (Continuing)	5.63M	3.31M	8.88M	2.38M	1.23M	25.57M	53.39M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	22.36M	23.29M	338K	290K	0	0	0
EPS (Diluted)+	0.16	0.06	0.27	0.06	0.03	0.59	1.18
EPS Growth %	-	-0.6%	3.2%	-0.79%	-0.49%	19.49%	1%
EPS (Basic)	0.17	0.07	0.31	0.06	0.03	0.62	1.25
Diluted Shares Outstanding	37.12M	37.12M	32.91M	43.32M	43.47M	43.31M	45.13M
Basic Shares Outstanding	34.14M	34.14M	28.67M	40.03M	40.65M	41.19M	42.85M
Dividend Payout Ratio	-	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	27.09M	34.65M	137.26M	141.29M	149.61M	195.52M	246.04M
Cash & Short-Term Investments	11.81M	1.27M	97.9M	99.59M	78.73M	116.82M	160.29M
Cash Only	11.81M	1.27M	29.54M	30.97M	12.91M	84.15M	150.6M
Short-Term Investments	0	0	68.36M	68.62M	65.81M	32.67M	9.69M
Accounts Receivable	10.29M	17.72M	22.49M	26.94M	38.9M	39.7M	54.34M
Days Sales Outstanding	35.19	45.97	38.31	37.69	39.21	30.71	32.71
Inventory	3.87M	12.95M	12.9M	10.95M	26.85M	32.9M	23.67M
Days Inventory Outstanding	19.63	48.29	33.7	22.44	38.8	38.79	22.95
Other Current Assets	0	0	0	278K	5.14M	6.11M	7.74M
Total Non-Current Assets+	22.76M	27.3M	34.12M	48.66M	65.05M	79.65M	113.29M
Property, Plant & Equipment	18.66M	22.46M	30.12M	44.61M	61.05M	75.75M	104.14M
Fixed Asset Turnover	5.72x	6.27x	7.11x	5.85x	5.93x	6.23x	5.82x
Goodwill	3.86M	3.86M	3.86M	3.86M	4M	3.86M	3.86M
Intangible Assets	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0
Other Non-Current Assets	246K	982K	142K	110K	0	46K	3.9M
Total Assets+	49.85M	61.95M	171.37M	189.94M	214.67M	275.18M	359.33M
Asset Turnover	2.14x	2.27x	1.25x	1.37x	1.69x	1.71x	1.69x
Asset Growth %	-	0.24%	1.77%	0.11%	0.13%	0.28%	0.31%
Total Current Liabilities+	16.8M	25M	25.91M	37.99M	47.65M	65.22M	78.53M
Accounts Payable	9.36M	13.51M	15.49M	22.52M	25.97M	33.48M	38.58M
Days Payables Outstanding	47.5	50.39	40.45	46.18	37.53	39.49	37.42
Short-Term Debt	671K	2.16M	0	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0
Other Current Liabilities	2.56M	1.4M	3.83M	3.04M	7.45M	9.13M	15.07M
Current Ratio	1.61x	1.39x	5.30x	3.72x	3.14x	3.00x	3.13x
Quick Ratio	1.38x	0.87x	4.80x	3.43x	2.58x	2.49x	2.83x
Cash Conversion Cycle	7.31	43.87	31.55	13.95	40.48	30.01	18.25
Total Non-Current Liabilities+	5.58M	5.1M	3.07M	192K	8.68M	17.28M	11.5M
Long-Term Debt	3.14M	2.9M	0	0	0	0	0
Capital Lease Obligations	1.14M	797K	327K	0	7.92M	16.25M	10.93M
Deferred Tax Liabilities	703K	755K	2.54M	0	0	0	0
Other Non-Current Liabilities	601K	654K	210K	192K	767K	1.03M	572K
Total Liabilities	22.38M	30.1M	28.99M	38.18M	56.33M	82.5M	90.03M
Total Debt+	5.48M	6.3M	798K	327K	10.69M	22.56M	18.71M
Net Debt	-6.33M	5.03M	-28.75M	-30.64M	-2.22M	-61.59M	-131.89M
Debt / Equity	0.20x	0.20x	0.01x	0.00x	0.07x	0.12x	0.07x
Debt / EBITDA	0.67x	1.20x	0.05x	0.09x	1.42x	0.55x	0.24x
Net Debt / EBITDA	-0.77x	0.95x	-1.95x	-8.53x	-0.29x	-1.50x	-1.72x
Interest Coverage	15.96x	9.60x	25.06x	1.00x	18.46x	42.52x	62.92x
Total Equity+	27.48M	31.85M	142.39M	151.76M	158.33M	192.68M	269.3M
Equity Growth %	-	0.16%	3.47%	0.07%	0.04%	0.22%	0.4%
Book Value per Share	0.74	0.86	4.33	3.50	3.64	4.45	5.97
Total Shareholders' Equity	5.12M	8.56M	142.05M	151.47M	158.33M	192.68M	269.3M
Common Stock	3K	3K	5K	5K	4K	4K	4K
Retained Earnings	2.85M	5.24M	14.04M	2.75M	4.16M	29.73M	83.11M
Treasury Stock	-	-16.28M	-16.28M	0	0	0	0
Accumulated OCI	-2.34M	0	-31K	-281K	-1.55M	-377K	3K
Minority Interest	22.36M	23.29M	338K	290K	0	0	0

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	11.42M	-5.35M	11.7M	17.68M	-8.1M	50.91M	64.41M
Operating CF Margin %	0.11%	-0.04%	0.05%	0.07%	-0.02%	0.11%	0.11%
Operating CF Growth %	-	-1.47%	3.19%	0.51%	-1.46%	7.29%	0.27%
Net Income	5.63M	3.31M	8.88M	2.38M	1.23M	25.57M	53.39M
Depreciation & Amortization	1.44M	1.92M	2.55M	3.54M	7.28M	7.92M	17.28M
Stock-Based Compensation	600K	1.03M	2.51M	4.44M	6.04M	7.42M	0
Deferred Taxes	703K	52K	1.78M	-2.54M	632K	-179K	-1.86M
Other Non-Cash Items	363K	572K	-131K	1.64M	895K	7.68M	11.82M
Working Capital Changes	2.69M	-12.24M	-3.89M	8.21M	-24.18M	2.49M	-16.22M
Change in Receivables	-3.58M	-6.18M	-4.72M	-4.72M	-13.72M	-862K	-14.79M
Change in Inventory	-1.04M	-9.27M	29K	1.73M	-15.57M	-6.44M	8.93M
Change in Payables	4.95M	3.19M	1.81M	6.8M	2.35M	6.67M	5.81M
Cash from Investing+	-1.91M	-5.62M	-77.84M	-18.44M	-10.04M	22.38M	-7.03M
Capital Expenditures	-1.94M	-4.8M	-10.3M	-16.71M	-10.56M	-11.54M	-28.65M
CapEx % of Revenue	0.02%	0.03%	0.05%	0.06%	0.03%	0.02%	0.05%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	29K	-824K	846K	0	100K	-257K	1K
Cash from Financing+	-1.51M	434K	94.41M	2.18M	83K	-2.05M	9.07M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-
Other Financing	-469K	-409K	-192K	-152K	-38K	-796K	-1.51M
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	9.48M	-10.15M	1.4M	971K	-18.66M	39.37M	35.76M
FCF Margin %	0.09%	-0.07%	0.01%	0%	-0.05%	0.08%	0.06%
FCF Growth %	-	-2.07%	1.14%	-0.31%	-20.21%	3.11%	-0.09%
FCF per Share	0.26	-0.27	0.04	0.02	-0.43	0.91	0.79
FCF Conversion (FCF/Net Income)	1.97x	-2.24x	1.33x	7.28x	-6.47x	1.99x	1.21x
Interest Paid	-	0	414K	43K	114K	775K	950K
Taxes Paid	-	0	2.21M	102K	99K	6M	16.58M

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	21.1%	8.04%	10.1%	1.65%	0.81%	14.57%	23.11%
Return on Invested Capital (ROIC)	24%	8.66%	12.19%	0.03%	1.14%	17.37%	35.5%
Gross Margin	32.63%	30.47%	34.78%	31.77%	30.23%	34.4%	37.92%
Net Margin	5.43%	1.69%	4.11%	0.93%	0.35%	5.42%	8.81%
Debt / Equity	0.20x	0.20x	0.01x	0.00x	0.07x	0.12x	0.07x
Interest Coverage	15.96x	9.60x	25.06x	1.00x	18.46x	42.52x	62.92x
FCF Conversion	1.97x	-2.24x	1.33x	7.28x	-6.47x	1.99x	1.21x
Revenue Growth	-	31.88%	52.26%	21.76%	38.77%	30.33%	28.49%

Revenue by Segment

	2020	2021	2022	2023	2024
Eggs And Egg Related Products	-	239.97M	339.21M	449.05M	580.95M
Eggs And Egg Related Products Growth	-	-	41.36%	32.38%	29.38%
Butter And Butter Related Products	17.59M	20.93M	22.84M	22.81M	25.35M
Butter And Butter Related Products Growth	-	19.04%	9.09%	-0.11%	11.14%
Egg And Egg Related	196.69M	-	-	-	-
Egg And Egg Related Growth	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Vital Farms, Inc. (VITL) has a price-to-earnings (P/E) ratio of 25.0x. This is roughly in line with market averages.

Growth & Financials

Vital Farms, Inc. (VITL) reported $657.9M in revenue for fiscal year 2024. This represents a 517% increase from $106.7M in 2018.

Vital Farms, Inc. (VITL) grew revenue by 28.5% over the past year. This is strong growth.

Yes, Vital Farms, Inc. (VITL) is profitable, generating $51.6M in net income for fiscal year 2024 (8.8% net margin).

Dividend & Returns

Vital Farms, Inc. (VITL) has a return on equity (ROE) of 23.1%. This is excellent, indicating efficient use of shareholder capital.

Vital Farms, Inc. (VITL) had negative free cash flow of $2.5M in fiscal year 2024, likely due to heavy capital investments.