Latest Ratios: P/E Ratio 40.6x · EV/EBITDA 32.1x · ROE 16.0%. (1998–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $61M | $59M | $71M | $75M | $84M | $90M | $87M | $43M | $50M | $74M | $48M |
| Enterprise Value | $60M | $58M | $71M | $75M | $83M | $88M | $87M | $44M | $49M | $71M | $46M |
| P/E Ratio → | 40.57 | 38.30 | 33.10 | 34.74 | 42.33 | 30.23 | 63.64 | 43.00 | 61.23 | 296.00 | 101.00 |
| P/S Ratio | 2.46 | 2.38 | 2.74 | 2.99 | 3.39 | 4.09 | 4.34 | 2.07 | 2.79 | 4.76 | 4.17 |
| P/B Ratio | 6.76 | 6.38 | 7.11 | 6.95 | 6.76 | 6.53 | 6.99 | 3.60 | 4.07 | 6.54 | 4.28 |
| P/FCF | 42.24 | 40.87 | 27.47 | 28.11 | 35.32 | 31.97 | 43.81 | 17.18 | 63.15 | 128.23 | 89.61 |
| P/OCF | 38.16 | 36.93 | 25.87 | 26.64 | 31.77 | 29.72 | 35.52 | 14.97 | 43.09 | 111.89 | 49.09 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.31 | 2.76 | 3.00 | 3.34 | 4.01 | 4.35 | 2.13 | 2.74 | 4.60 | 3.97 |
| EV / EBITDA | 32.09 | 31.03 | 24.93 | 22.62 | 24.71 | 28.33 | 32.54 | 16.69 | 26.80 | 75.89 | 51.10 |
| EV / EBIT | 49.39 | 47.75 | 23.85 | 27.93 | 29.47 | 24.24 | 46.95 | 29.61 | 55.68 | 864.66 | 72.65 |
| EV / FCF | — | 39.66 | 27.68 | 28.17 | 34.80 | 31.31 | 43.93 | 17.64 | 61.84 | 123.91 | 85.33 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.2% | 38.2% | 41.0% | 41.9% | 42.1% | 44.4% | 44.5% | 43.7% | 43.5% | 44.2% | 46.6% |
| Operating Margin | 4.8% | 4.8% | 8.6% | 10.7% | 10.7% | 10.5% | 8.4% | 7.5% | 4.9% | 0.5% | 5.5% |
| Net Profit Margin | 6.2% | 6.2% | 8.2% | 8.6% | 8.0% | 13.5% | 6.9% | 6.5% | 4.5% | 0.9% | 3.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.0% | 16.0% | 20.4% | 18.5% | 15.2% | 22.6% | 11.3% | 11.1% | 6.8% | 1.3% | 4.6% |
| ROA | 10.9% | 10.9% | 13.4% | 12.4% | 10.5% | 15.1% | 7.4% | 8.2% | 5.8% | 1.1% | 4.1% |
| ROIC | 10.0% | 10.0% | 15.4% | 18.2% | 17.2% | 14.1% | 9.8% | 9.6% | 6.6% | 0.7% | 7.4% |
| ROCE | 11.0% | 11.0% | 17.4% | 18.9% | 16.6% | 13.9% | 10.6% | 11.0% | 7.2% | 0.7% | 6.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.15 | 0.15 | 0.26 | 0.26 | 0.25 | 0.26 | 0.37 | 0.32 | 0.04 | 0.02 | 0.02 |
| Debt / EBITDA | 0.78 | 0.78 | 0.89 | 0.84 | 0.93 | 1.14 | 1.72 | 1.43 | 0.25 | 0.25 | 0.20 |
| Net Debt / Equity | — | -0.19 | 0.05 | 0.01 | -0.10 | -0.14 | 0.02 | 0.10 | -0.08 | -0.22 | -0.20 |
| Net Debt / EBITDA | -0.95 | -0.95 | 0.19 | 0.05 | -0.37 | -0.60 | 0.09 | 0.44 | -0.57 | -2.64 | -2.56 |
| Debt / FCF | — | -1.21 | 0.21 | 0.06 | -0.52 | -0.66 | 0.12 | 0.46 | -1.31 | -4.31 | -4.28 |
| Interest Coverage | 402.00 | 402.00 | 745.75 | 539.40 | 939.67 | 604.33 | 143.08 | 149.30 | 180.80 | 51.65 | 418.26 |
Net cash position: cash ($3M) exceeds total debt ($1M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.03 | 2.03 | 1.74 | 2.09 | 2.60 | 2.90 | 2.39 | 2.14 | 2.57 | 2.97 | 3.55 |
| Quick Ratio | 1.78 | 1.78 | 1.43 | 1.71 | 2.31 | 2.64 | 2.39 | 2.14 | 2.57 | 2.97 | 3.55 |
| Cash Ratio | 1.04 | 1.04 | 0.63 | 0.89 | 1.44 | 1.81 | 1.40 | 1.06 | 1.01 | 1.83 | 2.40 |
| Asset Turnover | — | 1.93 | 1.68 | 1.54 | 1.36 | 1.11 | 1.03 | 1.14 | 1.23 | 1.16 | 0.90 |
| Inventory Turnover | 19.42 | 19.42 | 15.15 | 13.18 | 16.19 | 15.90 | — | — | — | — | — |
| Days Sales Outstanding | — | 24.61 | 25.89 | 30.90 | 31.91 | 36.25 | 45.60 | 44.19 | 45.21 | 44.86 | 42.26 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | 1.0% | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.5% | 2.6% | 3.0% | 2.9% | 2.4% | 3.3% | 1.6% | 2.3% | 1.6% | 0.3% | 1.0% |
| FCF Yield | 2.4% | 2.4% | 3.6% | 3.6% | 2.8% | 3.1% | 2.3% | 5.8% | 1.6% | 0.8% | 1.1% |
| Buyback Yield | 3.5% | 3.6% | 4.6% | 5.3% | 4.1% | 1.2% | 1.2% | 1.3% | 0.8% | 0.3% | 0.7% |
| Total Shareholder Yield | 3.5% | 3.6% | 4.6% | 5.3% | 4.1% | 2.2% | 1.2% | 1.3% | 0.8% | 0.3% | 0.7% |
| Shares Outstanding | — | $5M | $5M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M |
Cattle herd size volatility
According to current market data, WFCF trades at a P/E of 40.57 and a PEG ratio of 6.34, which suggests that investors are pricing in significant future growth that appears disconnected from the company's recent revenue contraction of -3.32% reported in the latest fiscal period.
The elevated P/E multiple relative to the company's stagnant growth profile implies that the market may be misinterpreting WFCF as a high-growth SaaS entity rather than a cyclical service provider. This valuation gap warrants caution, as the current price levels appear to rely on an optimistic recovery in the U.S. cattle cycle that has yet to materialize in the financial results.
Based on reported figures, WFCF's ROIC has trended downward from 6.6% in 2023Q4 to 3.1% in 2026Q1, indicating that the company is struggling to generate efficient returns on its capital base as the core verification business faces persistent cyclical headwinds.
The decline in ROIC suggests that the company's capital allocation strategy, while conservative, is failing to produce meaningful value-add in the current environment. Investors should monitor whether management can improve these returns through operational efficiencies or if the business model is inherently limited by the physical constraints of its service-heavy inspection requirements.
As reported in financial statements, the company's cash conversion cycle has fluctuated between 35 and 48 days over the last ten quarters, reflecting the inherent difficulty in managing working capital when revenue recognition is tied to seasonal livestock audit cycles and lumpy hardware sales.
The variability in the CCC highlights the operational friction of a business model that relies on both professional services and physical tag distribution. This inconsistency in working capital management may continue to create lumpy cash flow profiles, making it difficult for the company to maintain a predictable liquidity position throughout the year.
The most commonly misapplied ratio for WFCF is the P/S multiple, which obscures the fact that a significant portion of revenue is derived from low-margin physical hardware and labor-intensive field audits rather than high-margin, scalable software subscriptions.
By applying a software-like valuation multiple to a business with a 38.20% gross margin, investors risk overestimating the company's operating leverage. A more appropriate metric would be an EV/EBITDA multiple adjusted for the cyclical nature of the livestock industry, which would better reflect the company's true earning power and its vulnerability to agricultural commodity cycles.
Includes 30+ ratios · 27 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying WFCF stock.
Where Food Comes From, Inc.'s current P/E ratio is 40.6x. The historical average is 45.7x. This places it at the 57th percentile of its historical range.
Where Food Comes From, Inc.'s current EV/EBITDA is 32.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 30.7x.
Where Food Comes From, Inc.'s return on equity (ROE) is 16.0%. The historical average is 16.4%.
Based on historical data, Where Food Comes From, Inc. is trading at a P/E of 40.6x. This is at the 57th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Where Food Comes From, Inc. has 38.2% gross margin and 4.8% operating margin.
Where Food Comes From, Inc.'s Debt/EBITDA ratio is 0.8x, indicating low leverage. A ratio below 2x is generally considered financially healthy.