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WFCF logoWhere Food Comes From, Inc.(WFCF)Earnings, Financials & Key Ratios

WFCF•NASDAQ
$12.37
$63M mkt cap·41.2× P/E·Price updated May 6, 2026
SectorTechnologyIndustryApplication SoftwareSub-IndustryVertical industry SaaS applications
AboutWhere Food Comes From, Inc., together with its subsidiaries, provides verification and certification solutions for the agriculture, livestock, and food industries in the United States. The company operates through Verification and Certification, and Software Sales and Related Consulting segments. It conducts on-site and desk audits to verify that claims made about livestock, crops, and other food products are accurate, as well as offers Where Food Comes From Source Verified retail and restaurant labeling program, which connects consumers directly to the source of the food they purchase through product labeling, and web-based information sharing and education. The company also offers sustainability programs, compliance management, and software-as-a-service; maintenance, support, and software-related consulting services; and web-hosting services, as well as sells hardware. It serves beef and pork packers, organic producers and processors, and specialty retail chains. The company was formerly known as Integrated Management Information, Inc. and changed its name to Where Food Comes From, Inc. in December 2012. Where Food Comes From, Inc. was founded in 1996 and is headquartered in Castle Rock, Colorado.Show more
  • Revenue$25M-3.3%
  • EBITDA$2M-35.0%
  • Net Income$2M-27.5%
  • EPS (Diluted)0.30-25.0%
  • Gross Margin38.2%-6.9%
  • EBITDA Margin7.46%-32.7%
  • Operating Margin4.84%-43.5%
  • Net Margin6.17%-25.1%
  • ROE15.97%-21.8%
  • ROIC10.04%-34.9%
  • Debt/Equity0.15-39.7%
  • Interest Coverage744.00-0.2%
Technical→

WFCF Key Insights

Where Food Comes From, Inc. (WFCF) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓Good 3Y average ROE of 18.3%
  • ✓Share count reduced 3.2% through buybacks
  • ✓Efficient asset utilization: 1.9x turnover

✗Weaknesses

No significant weaknesses identified

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

WFCF Price & Volume

Where Food Comes From, Inc. (WFCF) stock price & volume — 10-year historical chart

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WFCF Growth Metrics

Where Food Comes From, Inc. (WFCF) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years9.12%
5 Years4.39%
3 Years0.06%
TTM-3.32%

Profit CAGR

10 Years11.15%
5 Years2.09%
3 Years-8.33%
TTM-27.55%

EPS CAGR

10 Years14.13%
5 Years6.4%
3 Years-3.13%
TTM-25.04%

Return on Capital

10 Years11.38%
5 Years15.54%
3 Years15.74%
Last Year10.99%

WFCF Peer Comparison

Where Food Comes From, Inc. (WFCF) competitors in Vertical industry SaaS applications — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
NSA logoNSANational Storage Affiliates TrustDirect Competitor3.23B41.9059.85-2.26%11.92%5.74%9.28%2.23
ACCO logoACCOACCO Brands CorporationDirect Competitor370.88M4.029.14-8.49%4.76%11.26%13.7%1.39
HCKT logoHCKTThe Hackett Group, Inc.Direct Competitor350.31M13.8929.55-2.62%4.23%12.82%9.26%1.17
PRDO logoPRDOPerdoceo Education CorporationDirect Competitor2.18B34.7514.3624.2%18.9%16.3%9.94%0.11
BV logoBVBrightView Holdings, Inc.Product Competitor1.11B11.8120.72-3.41%1.38%2.29%3.38%0.51
SPGI logoSPGIS&P Global Inc.Product Competitor125.47B423.8728.917.94%29.15%12.92%4.35%0.39
MCO logoMCOMoody's CorporationProduct Competitor80.59B454.5533.258.89%31.86%64.11%3.2%1.75
CEVA logoCEVACEVA, Inc.Product Competitor809.85M33.72-91.149.77%-10.49%-4.2%0.06%0.02

Compare WFCF vs Peers

Where Food Comes From, Inc. (WFCF) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs NSA

Most directly comparable listed peer for WFCF.

Scale Benchmark

vs SPGI

Larger-name benchmark to compare WFCF against a more recognizable public peer.

Peer Set

Compare Top 5

vs NSA, ACCO, HCKT, PRDO

WFCF Income Statement

Where Food Comes From, Inc. (WFCF) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue15.45M17.8M20.77M20.08M21.93M24.84M25.14M25.75M24.89M
Revenue Growth %33%15.24%16.68%-3.36%9.24%13.28%1.17%2.43%-3.32%
Cost of Goods Sold8.63M10.06M11.7M11.15M12.2M14.38M14.61M15.18M15.38M
COGS % of Revenue55.85%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 Expenses6.74M6.87M7.53M7.24M7.43M7.82M7.83M8.36M8.3M
OpEx % of Revenue43.62%38.58%36.23%36.07%33.9%31.46%31.13%32.45%33.35%
Selling, General & Admin6.74M6.87M7.53M7.24M7.43M7.82M7.83M8.36M8.3M
SG&A % of Revenue43.62%38.58%36.23%36.07%33.9%31.46%31.13%32.45%33.35%
Research & Development186K222K070K00000
R&D % of Revenue1.2%1.25%-0.35%-----
Other Operating Expenses14.58K14.27K0-70K00000
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%
EBITDA936.36K1.82M2.65M2.68M3.1M3.36M3.33M2.85M1.86M
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)854.18K942.42K1.1M997K799K710K634K647K650K
EBIT82.18K874.55K1.49M1.86M3.63M2.82M2.7M2.98M2.23M
Net Interest Income-1.59K-4.84K-10K-13K-6K-3K-5K31K21K
Interest Income000000035K24K
Interest Expense1.59K4.84K10K13K6K3K5K4K3K
Other Income/Expense12.99K109.43K-69K160K1.32M164K368K772K1.02M
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 Tax266.23K309.01K460K462K659K822K913K859K693K
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)-171.06K674.98K1.02M1.39M2.96M1.99M2.15M2.12M1.54M
Discontinued Operations000000000
Minority Interest1.57M1.45M0000000
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)0.040.130.160.220.490.330.390.400.30
Diluted Shares Outstanding6.21M6.25M6.26M6.22M6.18M6.04M5.55M5.33M5.17M
Basic Shares Outstanding6.17M6.21M6.21M6.16M6.1M5.96M5.49M5.32M5.15M
Dividend Payout Ratio---------

WFCF Balance Sheet

Where Food Comes From, Inc. (WFCF) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets5.59M4.37M5.86M7.47M8.68M7.89M6.21M5.54M6.28M
Cash & Short-Term Investments3.45M1.73M2.9M4.37M5.41M4.37M2.64M2.01M3.2M
Cash Only2.71M1.48M2.64M4.37M5.41M4.37M2.64M2.01M3.2M
Short-Term Investments743.21K245.6K258.1K000000
Accounts Receivable1.9M2.21M2.52M2.51M2.18M2.17M2.13M1.83M1.68M
Days Sales Outstanding44.8645.2144.1945.636.2531.9130.925.8924.61
Inventory0000767K888K1.11M1M792K
Days Inventory Outstanding----22.9622.5427.724.0918.79
Other Current Assets245.07K439.42K450.35K00463K335K705K605K
Total Non-Current Assets7.75M10.09M12.38M11.97M11.1M10.4M10.07M9.76M6.62M
Property, Plant & Equipment1.07M1.68M4.81M4.65M4.12M3.6M3.14M2.8M1.15M
Fixed Asset Turnover14.46x10.63x4.32x4.32x5.33x6.89x8.00x9.18x21.72x
Goodwill2.65M3.14M2.95M2.95M2.95M2.95M2.95M2.95M2.95M
Intangible Assets3.95M3.85M3.23M2.95M2.58M2.34M2.28M1.81M2.01M
Long-Term Investments-13.54K1.24M991.12K991K991K991K1.19M1.19M200K
Other Non-Current Assets13.54K020.33K00023K654K20K
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 Turnover1.16x1.23x1.14x1.03x1.11x1.36x1.54x1.68x1.93x
Asset Growth %3.57%8.41%26.09%6.64%1.73%-7.52%-10.99%-6.02%-15.73%
Total Current Liabilities1.88M1.7M2.74M3.12M3M3.04M2.98M3.18M3.08M
Accounts Payable457.31K533.92K1.02M649K447K640K567K468K451K
Days Payables Outstanding19.3519.3731.9221.2513.3816.2514.1611.2510.7
Short-Term Debt16.97K21.48K247.84K463K185K0312K0434K
Deferred Revenue (Current)851.18K727.85K797.03K1.16M1.51M1.28M1.49M1.8M1.54M
Other Current Liabilities399.19K481.07K301.9K0-109K429K212K0188K
Current Ratio2.97x2.57x2.14x2.39x2.90x2.60x2.09x1.74x2.03x
Quick Ratio2.97x2.57x2.14x2.39x2.64x2.31x1.71x1.43x1.78x
Cash Conversion Cycle----45.8238.2144.4438.7232.7
Total Non-Current Liabilities1.79M2M3.55M3.86M3.04M2.78M2.49M2.19M509K
Long-Term Debt215.06K32.22K0572K0000496K
Capital Lease Obligations172.61K394.83K3.55M3.29M3.04M2.78M2.49M2.19M509K
Deferred Tax Liabilities0119.19K0000000
Other Non-Current Liabilities1.4M1.57M000000-496K
Total Liabilities3.67M3.7M6.29M6.98M6.04M5.82M5.47M5.37M3.59M
Total Debt232.03K448.54K3.79M4.6M3.55M3.13M2.8M2.55M1.44M
Net Debt-2.47M-1.03M1.16M230K-1.86M-1.24M159K534K-1.76M
Debt / Equity0.02x0.04x0.32x0.37x0.26x0.25x0.26x0.26x0.15x
Debt / EBITDA0.25x0.25x1.43x1.72x1.14x0.93x0.84x0.89x0.78x
Net Debt / EBITDA-2.64x-0.57x0.44x0.09x-0.60x-0.37x0.05x0.19x-0.95x
Interest Coverage51.65x180.80x149.30x143.08x604.33x939.67x539.40x745.75x744.00x
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 Share1.811.961.912.002.222.071.951.861.80
Total Shareholders' Equity9.67M10.77M11.95M12.46M13.75M12.48M10.82M9.93M9.3M
Common Stock24.97K25.47K25.8K6K6K6K7K7K5K
Retained Earnings17.4K818.13K2.16M3.55M5.59M7.59M9.74M12.01M11.06M
Treasury Stock-724.53K-1.11M-1.66M-2.7M-3.81M-7.26M-11.22M-13.46M-1.78M
Accumulated OCI-977.85K-1.34M0000000
Minority Interest1.57M1.45M0000000

WFCF Cash Flow Statement

Where Food Comes From, Inc. (WFCF) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations657.22K1.15M2.87M2.45M3.02M2.65M2.82M2.73M1.61M
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-171.06K674.98K1.02M1.39M2.96M1.99M2.15M2.12M1.54M
Depreciation & Amortization854.18K942.42K1.1M997K799K765K634K647K650K
Stock-Based Compensation169.13K161.13K162.41K121K291K154K78K34K0
Deferred Taxes-129.06K-96.3K-97.64K-65K-21K-59K30K90K56K
Other Non-Cash Items31.69K190.32K215.97K76K-1.13M76K37K-298K-826K
Working Capital Changes-97.67K-718.38K474.77K-62K122K-276K-109K137K191K
Change in Receivables-571.63K-336.41K-337.38K-46K330K-20K0254K91K
Change in Inventory23.65K-335.25K157.75K41K-767K-121K-221K107K210K
Change in Payables123.52K76.62K488.91K-374K-202K193K-73K-99K-17K
Cash from Investing-242.8K-1.97M-1.12M-730K-3K-267K-648K-159K1.68M
Capital Expenditures-83.76K-366.69K-369.2K-464K-213K-267K-148K-159K-155K
CapEx % of Revenue0.54%2.06%1.78%2.31%0.97%1.07%0.59%0.62%0.62%
Acquisitions-150K-950K-1M-300K210K0-300K00
Investments---------
Other Investing-9.04K-8.13K99934K00-200K00
Cash from Financing-198.63K-402.74K-604.46K14K-1.98M-3.43M-3.9M-3.2M-2.1M
Debt Issued (Net)-7.16K-18.2K-49K1.05M-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 Paid0000-914K0000
Share Repurchases-199.64K-384.53K-555K-1.04M-1.1M-3.46M-3.96M-3.27M-2.17M
Other Financing8.17K0-275K52K36K68K84K0
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 Share0.090.130.400.320.450.400.480.480.28
FCF Conversion (FCF/Net Income)4.62x1.44x2.14x1.77x1.02x1.33x1.31x1.29x1.05x
Interest Paid000000000
Taxes Paid0000658K1.08M802K1.24M0

WFCF Key Ratios

Where Food Comes From, Inc. (WFCF) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
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 Margin46.6%44.15%43.5%43.7%44.47%44.4%42.13%41.86%41.02%38.2%
Net Margin3.73%0.92%4.5%6.47%6.9%13.5%8.03%8.56%8.23%6.17%
Debt / Equity0.02x0.02x0.04x0.32x0.37x0.26x0.25x0.26x0.26x0.15x
Interest Coverage418.26x51.65x180.80x149.30x143.08x604.33x939.67x539.40x745.75x744.00x
FCF Conversion2.28x4.62x1.44x2.14x1.77x1.02x1.33x1.31x1.29x1.05x
Revenue Growth11.73%33%15.24%16.68%-3.36%9.24%13.28%1.17%2.43%-3.32%

WFCF SEC Filings & Documents

Where Food Comes From, Inc. (WFCF) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 10, 2026·SEC

Material company update

Feb 27, 2026·SEC

Material company update

Nov 14, 2025·SEC

10-K Annual Reports

5
FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 20, 2025·SEC

FY 2024

Feb 15, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 13, 2025·SEC

FY 2025

Aug 7, 2025·SEC

FY 2025

May 8, 2025·SEC

WFCF Frequently Asked Questions

Where Food Comes From, Inc. (WFCF) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

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).

Dividend & Returns

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.

Explore More WFCF

Where Food Comes From, Inc. (WFCF) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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