The company's liquidity buffer has faced rapid erosion, with cash balances falling from $156.3 million in 2025Q1 to $36.6 million in 2026Q1 as net property, plant, and equipment grew to represent over 54% of total assets.
| Total Current Assets | 209.18M | 262.55M | 246.04M | 195.52M | 149.61M | 141.29M | 137.26M | 34.65M | 27.09M |
| Cash & Short-Term Investments | 51.43M | 113.35M | 160.29M | 116.82M | 78.73M | 99.59M | 97.9M | 1.27M | 11.81M |
| Cash Only | 36.63M | 48.83M | 150.6M | 84.15M | 12.91M | 30.97M | 29.54M | 1.27M | 11.81M |
| Short-Term Investments | 14.81M | 64.52M | 9.69M | 32.67M | 65.81M | 68.62M | 68.36M | 0 | 0 |
| Accounts Receivable | 51.43M | 67.85M | 54.34M | 39.7M | 38.9M | 26.94M | 22.49M | 17.72M | 10.29M |
| Days Sales Outstanding | 28.83 | 32.61 | 32.71 | 30.71 | 39.21 | 37.69 | 38.31 | 45.97 | 35.19 |
| Inventory | 90.22M | 66.5M | 23.67M | 32.9M | 26.85M | 10.95M | 12.9M | 12.95M | 3.87M |
| Days Inventory Outstanding | 45.11 | 51.23 | 22.95 | 38.79 | 38.8 | 22.44 | 33.7 | 48.29 | 19.63 |
| Other Current Assets | 16.1M | 14.86M | 7.74M | 6.11M | 5.14M | 278K | 0 | 0 | 0 |
| Total Non-Current Assets | 283.47M | 256.19M | 113.29M | 79.65M | 65.05M | 48.66M | 34.12M | 27.3M | 22.76M |
| Property, Plant & Equipment | 268M | 240.99M | 104.14M | 75.75M | 61.05M | 44.61M | 30.12M | 22.46M | 18.66M |
| Fixed Asset Turnover | 3.70x | 3.15x | 5.82x | 6.23x | 5.93x | 5.85x | 7.11x | 6.27x | 5.72x |
| Goodwill | 15.47M | 15.2M | 3.86M | 3.86M | 4M | 3.86M | 3.86M | 3.86M | 3.86M |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 3.9M | 46K | 0 | 110K | 142K | 982K | 246K |
| Total Assets | 492.64M | 518.74M | 359.33M | 275.18M | 214.67M | 189.94M | 171.37M | 61.95M | 49.85M |
| Asset Turnover | 1.63x | 1.46x | 1.69x | 1.71x | 1.69x | 1.37x | 1.25x | 2.27x | 2.14x |
| Asset Growth % | 149.18% | 44.36% | 30.58% | 28.19% | 13.02% | 10.83% | 176.64% | 24.26% | - |
| Total Current Liabilities | 118.42M | 121.58M | 78.53M | 65.22M | 47.65M | 37.99M | 25.91M | 25M | 16.8M |
| Accounts Payable | 54.59M | 55.14M | 38.58M | 33.48M | 25.97M | 22.52M | 15.49M | 13.51M | 9.36M |
| Days Payables Outstanding | 37.98 | 42.48 | 37.42 | 39.49 | 37.53 | 46.18 | 40.45 | 50.39 | 47.5 |
| Short-Term Debt | 13.48M | 10.34M | 0 | 0 | 0 | 0 | 0 | 2.16M | 671K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 50.34M | 56.09M | 15.07M | 9.13M | 7.45M | 3.04M | 3.83M | 1.4M | 2.56M |
| Current Ratio | 1.77x | 2.16x | 3.13x | 3.00x | 3.14x | 3.72x | 5.30x | 1.39x | 1.61x |
| Quick Ratio | 1.00x | 1.61x | 2.83x | 2.49x | 2.58x | 3.43x | 4.80x | 0.87x | 1.38x |
| Cash Conversion Cycle | 35.96 | 41.36 | 18.25 | 30.01 | 40.48 | 13.95 | 31.55 | 43.87 | 7.31 |
| Total Non-Current Liabilities | 43.32M | 45.9M | 11.5M | 17.28M | 8.68M | 192K | 3.07M | 5.1M | 5.58M |
| Long-Term Debt | 40.75M | 43.15M | 0 | 0 | 0 | 0 | 0 | 2.9M | 3.14M |
| Capital Lease Obligations | 51.92M | 0 | 10.93M | 16.25M | 7.92M | 0 | 327K | 797K | 1.14M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 2.54M | 755K | 703K |
| Other Non-Current Liabilities | 2.56M | 2.75M | 572K | 1.03M | 767K | 192K | 210K | 654K | 601K |
| Total Liabilities | 161.74M | 167.48M | 90.03M | 82.5M | 56.33M | 38.18M | 28.99M | 30.1M | 22.38M |
| Total Debt | 54.24M | 53.49M | 18.71M | 22.56M | 10.69M | 327K | 798K | 6.3M | 5.48M |
| Net Debt | 17.61M | 4.66M | -131.89M | -61.59M | -2.22M | -30.64M | -28.75M | 5.03M | -6.33M |
| Debt / Equity | 0.16x | 0.15x | 0.07x | 0.12x | 0.07x | 0.00x | 0.01x | 0.20x | 0.20x |
| Debt / EBITDA | 0.63x | 0.52x | 0.24x | 0.55x | 1.42x | 0.09x | 0.05x | 1.20x | 0.67x |
| Net Debt / EBITDA | 0.21x | 0.05x | -1.72x | -1.50x | -0.29x | -8.53x | -1.95x | 0.95x | -0.77x |
| Interest Coverage | 31.74x | 105.42x | 67.87x | 42.18x | 25.83x | 7.81x | 24.88x | 13.66x | 15.98x |
| Total Equity | 330.91M | 351.26M | 269.3M | 192.68M | 158.33M | 151.76M | 142.39M | 31.85M | 27.48M |
| Equity Growth % | 105.63% | 30.43% | 39.77% | 21.69% | 4.33% | 6.58% | 347.07% | 15.91% | - |
| Book Value per Share | 7.42 | 7.63 | 5.97 | 4.45 | 3.64 | 3.50 | 4.33 | 0.86 | 0.74 |
| Total Shareholders' Equity | 330.91M | 351.26M | 269.3M | 192.68M | 158.33M | 151.47M | 142.05M | 8.56M | 5.12M |
| Common Stock | 4K | 4K | 4K | 4K | 4K | 5K | 5K | 3K | 3K |
| Retained Earnings | 147.87M | 149.4M | 83.11M | 29.73M | 4.16M | 2.75M | 14.04M | 5.24M | 2.85M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | -16.28M | -16.28M | - |
| Accumulated OCI | 2K | 41K | 3K | -377K | -1.55M | -281K | -31K | 0 | -2.34M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 290K | 338K | 23.29M | 22.36M |
Capital expenditure liquidity drain
As reported in recent financial filings, Vital Farms' total assets grew to $492.6 million in 2026Q1, yet this expansion is increasingly funded by external capital rather than retained earnings, signaling a shift toward a more capital-intensive business model that may pressure long-term return on invested capital metrics.
The rapid increase in total assets from $275.2 million in 2023Q4 to current levels reflects an aggressive infrastructure build-out. Investors should monitor whether this asset growth translates into commensurate revenue gains or if the company is over-extending its balance sheet during a period of softening operational performance.
Based on the provided balance sheet data, net property, plant, and equipment surged to $268.0 million in 2026Q1, representing over 54% of total assets, which indicates a fundamental transition toward an asset-heavy operational model that deviates from the company's historically capital-light supply chain strategy.
This concentration in fixed assets suggests that the company is internalizing more of its production process to capture efficiencies. However, this shift increases the company's exposure to depreciation and maintenance costs, which may weigh on future margins if throughput at the Egg Central facility does not meet expectations.
According to the latest quarterly balance sheet, Vital Farms' cash position declined sharply to $36.6 million in 2026Q1 from a peak of $156.3 million in 2025Q1, suggesting that the company's liquidity buffer is being rapidly depleted by ongoing capital expenditures and recent share repurchase activity.
The current ratio has compressed to 1.77, down from a high of 3.50, indicating a tightening of short-term financial flexibility. This trend warrants close investigation, as the company's ability to navigate potential supply chain shocks or market volatility appears to be diminishing as cash reserves dwindle.
As indicated by financial statements, retained earnings growth has stalled at $147.9 million in 2026Q1, reflecting the impact of recent net losses and aggressive capital allocation strategies that prioritize infrastructure investment and share buybacks over the organic accumulation of shareholder equity during this expansionary phase.
The stagnation in retained earnings suggests that the company is currently struggling to generate profitable growth that adds to its book value. Investors should be cautious of the disconnect between capital deployment and the actual growth in equity, as this may indicate that current investments are not yet yielding the expected returns.
Quick answers to the most common questions about buying VITL stock.
As of 2025, Vital Farms, Inc. (VITL) had total assets of $518.7M including $262.6M in current assets.
Vital Farms, Inc. (VITL) carries total debt of $53.5M, offset by $113.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Vital Farms, Inc. (VITL) has total shareholders' equity (book value) of $351.3M ($7.63 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Vital Farms, Inc. (VITL) reported a current ratio of 2.16x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.