8-K Announcements
6Apr 10, 2026·SEC
Feb 27, 2026·SEC
Nov 14, 2025·SEC
Where Food Comes From, Inc. (WFCF) fundamental analysis — strengths, weaknesses & financial health based on data analysis
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Where Food Comes From, Inc. (WFCF) stock price & volume — 10-year historical chart
Where Food Comes From, Inc. (WFCF) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Where Food Comes From, Inc. (WFCF) competitors in Vertical industry SaaS applications — business model, growth, and fundamentals comparison
Where Food Comes From, Inc. (WFCF) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Where Food Comes From, Inc. (WFCF) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 15.45M | 17.8M | 20.77M | 20.08M | 21.93M | 24.84M | 25.14M | 25.75M | 24.89M |
| Revenue Growth % | 33% | 15.24% | 16.68% | -3.36% | 9.24% | 13.28% | 1.17% | 2.43% | -3.32% |
| Cost of Goods Sold | 8.63M | 10.06M | 11.7M | 11.15M | 12.2M | 14.38M | 14.61M | 15.18M | 15.38M |
| COGS % of Revenue | 55.85% | 56.5% | 56.3% | 55.53% | 55.6% | 57.87% | 58.14% | 58.98% | 61.8% |
| Gross Profit | 6.82M▲ 0% | 7.74M▲ 13.5% | 9.08M▲ 17.2% | 8.93M▼ 1.7% | 9.74M▲ 9.1% | 10.47M▲ 7.5% | 10.52M▲ 0.5% | 10.56M▲ 0.4% | 9.51M▼ 10.0% |
| Gross Margin % | 44.15% | 43.5% | 43.7% | 44.47% | 44.4% | 42.13% | 41.86% | 41.02% | 38.2% |
| Gross Profit Growth % | 26.01% | 13.53% | 17.24% | -1.66% | 9.06% | 7.51% | 0.52% | 0.38% | -9.98% |
| Operating Expenses | 6.74M | 6.87M | 7.53M | 7.24M | 7.43M | 7.82M | 7.83M | 8.36M | 8.3M |
| OpEx % of Revenue | 43.62% | 38.58% | 36.23% | 36.07% | 33.9% | 31.46% | 31.13% | 32.45% | 33.35% |
| Selling, General & Admin | 6.74M | 6.87M | 7.53M | 7.24M | 7.43M | 7.82M | 7.83M | 8.36M | 8.3M |
| SG&A % of Revenue | 43.62% | 38.58% | 36.23% | 36.07% | 33.9% | 31.46% | 31.13% | 32.45% | 33.35% |
| Research & Development | 186K | 222K | 0 | 70K | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | 1.2% | 1.25% | - | 0.35% | - | - | - | - | - |
| Other Operating Expenses | 14.58K | 14.27K | 0 | -70K | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 82.18K▲ 0% | 874.55K▲ 964.2% | 1.55M▲ 77.5% | 1.69M▲ 8.7% | 2.3M▲ 36.5% | 2.65M▲ 15.2% | 2.7M▲ 1.7% | 2.21M▼ 18.2% | 1.21M▼ 45.4% |
| Operating Margin % | 0.53% | 4.91% | 7.47% | 8.4% | 10.5% | 10.67% | 10.73% | 8.57% | 4.84% |
| Operating Income Growth % | -87.05% | 964.17% | 77.46% | 8.7% | 36.51% | 15.15% | 1.7% | -18.17% | -45.36% |
| EBITDA | 936.36K | 1.82M | 2.65M | 2.68M | 3.1M | 3.36M | 3.33M | 2.85M | 1.86M |
| EBITDA Margin % | 6.06% | 10.21% | 12.75% | 13.37% | 14.14% | 13.53% | 13.25% | 11.09% | 7.46% |
| EBITDA Growth % | 3.79% | 94.05% | 45.79% | 1.32% | 15.57% | 8.38% | -0.92% | -14.32% | -34.97% |
| D&A (Non-Cash Add-back) | 854.18K | 942.42K | 1.1M | 997K | 799K | 710K | 634K | 647K | 650K |
| EBIT | 82.18K | 874.55K | 1.49M | 1.86M | 3.63M | 2.82M | 2.7M | 2.98M | 2.23M |
| Net Interest Income | -1.59K | -4.84K | -10K | -13K | -6K | -3K | -5K | 31K | 21K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 35K | 24K |
| Interest Expense | 1.59K | 4.84K | 10K | 13K | 6K | 3K | 5K | 4K | 3K |
| Other Income/Expense | 12.99K | 109.43K | -69K | 160K | 1.32M | 164K | 368K | 772K | 1.02M |
| Pretax Income | 95.17K▲ 0% | 983.99K▲ 933.9% | 1.48M▲ 50.7% | 1.85M▲ 24.5% | 3.62M▲ 96.0% | 2.82M▼ 22.2% | 3.06M▲ 8.8% | 2.98M▼ 2.8% | 2.23M▼ 25.2% |
| Pretax Margin % | 0.62% | 5.53% | 7.14% | 9.2% | 16.51% | 11.33% | 12.19% | 11.57% | 8.95% |
| Income Tax | 266.23K | 309.01K | 460K | 462K | 659K | 822K | 913K | 859K | 693K |
| Effective Tax Rate % | 279.74% | 31.4% | 31.02% | 25.01% | 18.2% | 29.19% | 29.79% | 28.84% | 31.09% |
| Net Income | 142.31K▲ 0% | 800.74K▲ 462.7% | 1.34M▲ 68.0% | 1.39M▲ 3.0% | 2.96M▲ 113.8% | 1.99M▼ 32.7% | 2.15M▲ 7.9% | 2.12M▼ 1.5% | 1.54M▼ 27.5% |
| Net Margin % | 0.92% | 4.5% | 6.47% | 6.9% | 13.5% | 8.03% | 8.56% | 8.23% | 6.17% |
| Net Income Growth % | -67.15% | 462.65% | 67.97% | 2.97% | 113.79% | -32.66% | 7.92% | -1.49% | -27.55% |
| Net Income (Continuing) | -171.06K | 674.98K | 1.02M | 1.39M | 2.96M | 1.99M | 2.15M | 2.12M | 1.54M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1.57M | 1.45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.04▲ 0% | 0.13▲ 225.0% | 0.16▲ 23.1% | 0.22▲ 37.5% | 0.48▲ 118.2% | 0.33▼ 31.2% | 0.39▲ 18.2% | 0.40▲ 2.6% | 0.30▼ 25.0% |
| EPS Growth % | -50% | 225% | 23.08% | 37.5% | 118.18% | -31.25% | 18.18% | 2.56% | -25% |
| EPS (Basic) | 0.04 | 0.13 | 0.16 | 0.22 | 0.49 | 0.33 | 0.39 | 0.40 | 0.30 |
| Diluted Shares Outstanding | 6.21M | 6.25M | 6.26M | 6.22M | 6.18M | 6.04M | 5.55M | 5.33M | 5.17M |
| Basic Shares Outstanding | 6.17M | 6.21M | 6.21M | 6.16M | 6.1M | 5.96M | 5.49M | 5.32M | 5.15M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Where Food Comes From, Inc. (WFCF) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 5.59M | 4.37M | 5.86M | 7.47M | 8.68M | 7.89M | 6.21M | 5.54M | 6.28M |
| Cash & Short-Term Investments | 3.45M | 1.73M | 2.9M | 4.37M | 5.41M | 4.37M | 2.64M | 2.01M | 3.2M |
| Cash Only | 2.71M | 1.48M | 2.64M | 4.37M | 5.41M | 4.37M | 2.64M | 2.01M | 3.2M |
| Short-Term Investments | 743.21K | 245.6K | 258.1K | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.9M | 2.21M | 2.52M | 2.51M | 2.18M | 2.17M | 2.13M | 1.83M | 1.68M |
| Days Sales Outstanding | 44.86 | 45.21 | 44.19 | 45.6 | 36.25 | 31.91 | 30.9 | 25.89 | 24.61 |
| Inventory | 0 | 0 | 0 | 0 | 767K | 888K | 1.11M | 1M | 792K |
| Days Inventory Outstanding | - | - | - | - | 22.96 | 22.54 | 27.7 | 24.09 | 18.79 |
| Other Current Assets | 245.07K | 439.42K | 450.35K | 0 | 0 | 463K | 335K | 705K | 605K |
| Total Non-Current Assets | 7.75M | 10.09M | 12.38M | 11.97M | 11.1M | 10.4M | 10.07M | 9.76M | 6.62M |
| Property, Plant & Equipment | 1.07M | 1.68M | 4.81M | 4.65M | 4.12M | 3.6M | 3.14M | 2.8M | 1.15M |
| Fixed Asset Turnover | 14.46x | 10.63x | 4.32x | 4.32x | 5.33x | 6.89x | 8.00x | 9.18x | 21.72x |
| Goodwill | 2.65M | 3.14M | 2.95M | 2.95M | 2.95M | 2.95M | 2.95M | 2.95M | 2.95M |
| Intangible Assets | 3.95M | 3.85M | 3.23M | 2.95M | 2.58M | 2.34M | 2.28M | 1.81M | 2.01M |
| Long-Term Investments | -13.54K | 1.24M | 991.12K | 991K | 991K | 991K | 1.19M | 1.19M | 200K |
| Other Non-Current Assets | 13.54K | 0 | 20.33K | 0 | 0 | 0 | 23K | 654K | 20K |
| Total Assets | 13.34M▲ 0% | 14.46M▲ 8.4% | 18.24M▲ 26.1% | 19.45M▲ 6.6% | 19.78M▲ 1.7% | 18.3M▼ 7.5% | 16.29M▼ 11.0% | 15.31M▼ 6.0% | 12.9M▼ 15.7% |
| Asset Turnover | 1.16x | 1.23x | 1.14x | 1.03x | 1.11x | 1.36x | 1.54x | 1.68x | 1.93x |
| Asset Growth % | 3.57% | 8.41% | 26.09% | 6.64% | 1.73% | -7.52% | -10.99% | -6.02% | -15.73% |
| Total Current Liabilities | 1.88M | 1.7M | 2.74M | 3.12M | 3M | 3.04M | 2.98M | 3.18M | 3.08M |
| Accounts Payable | 457.31K | 533.92K | 1.02M | 649K | 447K | 640K | 567K | 468K | 451K |
| Days Payables Outstanding | 19.35 | 19.37 | 31.92 | 21.25 | 13.38 | 16.25 | 14.16 | 11.25 | 10.7 |
| Short-Term Debt | 16.97K | 21.48K | 247.84K | 463K | 185K | 0 | 312K | 0 | 434K |
| Deferred Revenue (Current) | 851.18K | 727.85K | 797.03K | 1.16M | 1.51M | 1.28M | 1.49M | 1.8M | 1.54M |
| Other Current Liabilities | 399.19K | 481.07K | 301.9K | 0 | -109K | 429K | 212K | 0 | 188K |
| Current Ratio | 2.97x | 2.57x | 2.14x | 2.39x | 2.90x | 2.60x | 2.09x | 1.74x | 2.03x |
| Quick Ratio | 2.97x | 2.57x | 2.14x | 2.39x | 2.64x | 2.31x | 1.71x | 1.43x | 1.78x |
| Cash Conversion Cycle | - | - | - | - | 45.82 | 38.21 | 44.44 | 38.72 | 32.7 |
| Total Non-Current Liabilities | 1.79M | 2M | 3.55M | 3.86M | 3.04M | 2.78M | 2.49M | 2.19M | 509K |
| Long-Term Debt | 215.06K | 32.22K | 0 | 572K | 0 | 0 | 0 | 0 | 496K |
| Capital Lease Obligations | 172.61K | 394.83K | 3.55M | 3.29M | 3.04M | 2.78M | 2.49M | 2.19M | 509K |
| Deferred Tax Liabilities | 0 | 119.19K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.4M | 1.57M | 0 | 0 | 0 | 0 | 0 | 0 | -496K |
| Total Liabilities | 3.67M | 3.7M | 6.29M | 6.98M | 6.04M | 5.82M | 5.47M | 5.37M | 3.59M |
| Total Debt | 232.03K | 448.54K | 3.79M | 4.6M | 3.55M | 3.13M | 2.8M | 2.55M | 1.44M |
| Net Debt | -2.47M | -1.03M | 1.16M | 230K | -1.86M | -1.24M | 159K | 534K | -1.76M |
| Debt / Equity | 0.02x | 0.04x | 0.32x | 0.37x | 0.26x | 0.25x | 0.26x | 0.26x | 0.15x |
| Debt / EBITDA | 0.25x | 0.25x | 1.43x | 1.72x | 1.14x | 0.93x | 0.84x | 0.89x | 0.78x |
| Net Debt / EBITDA | -2.64x | -0.57x | 0.44x | 0.09x | -0.60x | -0.37x | 0.05x | 0.19x | -0.95x |
| Interest Coverage | 51.65x | 180.80x | 149.30x | 143.08x | 604.33x | 939.67x | 539.40x | 745.75x | 744.00x |
| Total Equity | 11.25M▲ 0% | 12.21M▲ 8.6% | 11.95M▼ 2.2% | 12.46M▲ 4.3% | 13.75M▲ 10.3% | 12.48M▼ 9.3% | 10.82M▼ 13.3% | 9.93M▼ 8.2% | 9.3M▼ 6.3% |
| Equity Growth % | -0.62% | 8.62% | -2.18% | 4.31% | 10.31% | -9.25% | -13.29% | -8.19% | -6.32% |
| Book Value per Share | 1.81 | 1.96 | 1.91 | 2.00 | 2.22 | 2.07 | 1.95 | 1.86 | 1.80 |
| Total Shareholders' Equity | 9.67M | 10.77M | 11.95M | 12.46M | 13.75M | 12.48M | 10.82M | 9.93M | 9.3M |
| Common Stock | 24.97K | 25.47K | 25.8K | 6K | 6K | 6K | 7K | 7K | 5K |
| Retained Earnings | 17.4K | 818.13K | 2.16M | 3.55M | 5.59M | 7.59M | 9.74M | 12.01M | 11.06M |
| Treasury Stock | -724.53K | -1.11M | -1.66M | -2.7M | -3.81M | -7.26M | -11.22M | -13.46M | -1.78M |
| Accumulated OCI | -977.85K | -1.34M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1.57M | 1.45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Where Food Comes From, Inc. (WFCF) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 657.22K | 1.15M | 2.87M | 2.45M | 3.02M | 2.65M | 2.82M | 2.73M | 1.61M |
| Operating CF Margin % | 4.25% | 6.48% | 13.84% | 12.21% | 13.77% | 10.68% | 11.23% | 10.6% | 6.46% |
| Operating CF Growth % | -33.35% | 75.61% | 149.09% | -14.71% | 23.16% | -12.12% | 6.33% | -3.26% | -41.14% |
| Net Income | -171.06K | 674.98K | 1.02M | 1.39M | 2.96M | 1.99M | 2.15M | 2.12M | 1.54M |
| Depreciation & Amortization | 854.18K | 942.42K | 1.1M | 997K | 799K | 765K | 634K | 647K | 650K |
| Stock-Based Compensation | 169.13K | 161.13K | 162.41K | 121K | 291K | 154K | 78K | 34K | 0 |
| Deferred Taxes | -129.06K | -96.3K | -97.64K | -65K | -21K | -59K | 30K | 90K | 56K |
| Other Non-Cash Items | 31.69K | 190.32K | 215.97K | 76K | -1.13M | 76K | 37K | -298K | -826K |
| Working Capital Changes | -97.67K | -718.38K | 474.77K | -62K | 122K | -276K | -109K | 137K | 191K |
| Change in Receivables | -571.63K | -336.41K | -337.38K | -46K | 330K | -20K | 0 | 254K | 91K |
| Change in Inventory | 23.65K | -335.25K | 157.75K | 41K | -767K | -121K | -221K | 107K | 210K |
| Change in Payables | 123.52K | 76.62K | 488.91K | -374K | -202K | 193K | -73K | -99K | -17K |
| Cash from Investing | -242.8K | -1.97M | -1.12M | -730K | -3K | -267K | -648K | -159K | 1.68M |
| Capital Expenditures | -83.76K | -366.69K | -369.2K | -464K | -213K | -267K | -148K | -159K | -155K |
| CapEx % of Revenue | 0.54% | 2.06% | 1.78% | 2.31% | 0.97% | 1.07% | 0.59% | 0.62% | 0.62% |
| Acquisitions | -150K | -950K | -1M | -300K | 210K | 0 | -300K | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | -9.04K | -8.13K | 999 | 34K | 0 | 0 | -200K | 0 | 0 |
| Cash from Financing | -198.63K | -402.74K | -604.46K | 14K | -1.98M | -3.43M | -3.9M | -3.2M | -2.1M |
| Debt Issued (Net) | -7.16K | -18.2K | -49K | 1.05M | -10K | -13K | -13K | -14K | -15K |
| Equity Issued (Net) | -199.64K | -384.53K | -555.43K | -1.04M | -1.1M | -3.46M | -3.96M | -3.27M | -2.09M |
| Dividends Paid | 0 | 0 | 0 | 0 | -914K | 0 | 0 | 0 | 0 |
| Share Repurchases | -199.64K | -384.53K | -555K | -1.04M | -1.1M | -3.46M | -3.96M | -3.27M | -2.17M |
| Other Financing | 8.17K | 0 | -27 | 5K | 52K | 36K | 68K | 84K | 0 |
| Net Change in Cash | 215.79K▲ 0% | -1.22M▼ 666.9% | 1.16M▲ 194.4% | 1.74M▲ 50.3% | 1.04M▼ 40.1% | -1.05M▼ 200.6% | -1.73M▼ 65.1% | -629K▲ 63.6% | 1.19M▲ 288.9% |
| Free Cash Flow | 573.46K▲ 0% | 787.48K▲ 37.3% | 2.51M▲ 218.2% | 1.99M▼ 20.7% | 2.81M▲ 41.2% | 2.39M▼ 15.0% | 2.67M▲ 12.0% | 2.57M▼ 3.9% | 1.45M▼ 43.5% |
| FCF Margin % | 3.71% | 4.42% | 12.06% | 9.9% | 12.8% | 9.61% | 10.64% | 9.99% | 5.83% |
| FCF Growth % | 6.16% | 37.32% | 218.2% | -20.66% | 41.2% | -14.96% | 12.02% | -3.85% | -43.52% |
| FCF per Share | 0.09 | 0.13 | 0.40 | 0.32 | 0.45 | 0.40 | 0.48 | 0.48 | 0.28 |
| FCF Conversion (FCF/Net Income) | 4.62x | 1.44x | 2.14x | 1.77x | 1.02x | 1.33x | 1.31x | 1.29x | 1.05x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 658K | 1.08M | 802K | 1.24M | 0 |
Where Food Comes From, Inc. (WFCF) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 4.56% | 1.26% | 6.83% | 11.13% | 11.35% | 22.59% | 15.21% | 18.48% | 20.43% | 15.97% |
| Return on Invested Capital (ROIC) | 7.37% | 0.69% | 6.57% | 9.59% | 9.81% | 14.05% | 17.2% | 18.21% | 15.44% | 10.04% |
| Gross Margin | 46.6% | 44.15% | 43.5% | 43.7% | 44.47% | 44.4% | 42.13% | 41.86% | 41.02% | 38.2% |
| Net Margin | 3.73% | 0.92% | 4.5% | 6.47% | 6.9% | 13.5% | 8.03% | 8.56% | 8.23% | 6.17% |
| Debt / Equity | 0.02x | 0.02x | 0.04x | 0.32x | 0.37x | 0.26x | 0.25x | 0.26x | 0.26x | 0.15x |
| Interest Coverage | 418.26x | 51.65x | 180.80x | 149.30x | 143.08x | 604.33x | 939.67x | 539.40x | 745.75x | 744.00x |
| FCF Conversion | 2.28x | 4.62x | 1.44x | 2.14x | 1.77x | 1.02x | 1.33x | 1.31x | 1.29x | 1.05x |
| Revenue Growth | 11.73% | 33% | 15.24% | 16.68% | -3.36% | 9.24% | 13.28% | 1.17% | 2.43% | -3.32% |
Where Food Comes From, Inc. (WFCF) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 10, 2026·SEC
Feb 27, 2026·SEC
Nov 14, 2025·SEC
Where Food Comes From, Inc. (WFCF) stock FAQ — growth, dividends, profitability & financials explained
Where Food Comes From, Inc. (WFCF) reported $24.9M in revenue for fiscal year 2025. This represents a 61% decrease from $63.8M in 1998.
Where Food Comes From, Inc. (WFCF) saw revenue decline by 3.3% over the past year.
Yes, Where Food Comes From, Inc. (WFCF) is profitable, generating $1.5M in net income for fiscal year 2025 (6.2% net margin).
Where Food Comes From, Inc. (WFCF) has a return on equity (ROE) of 16.0%. This is reasonable for most industries.
Where Food Comes From, Inc. (WFCF) generated $1.5M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
Where Food Comes From, Inc. (WFCF) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates