Where Food Comes From, Inc. (WFCF) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 23	—	$0.02	—	—	$5.3M	—
Q4 22	—	$0.08	—	—	$6.1M	—
Q3 22	$0.16	$0.13	-18.8%	—	$7.3M	—
Q2 22	$0.09	$0.04	-55.6%	—	$5.3M	—
Q1 22	$0.05	$0.08	+60.0%	—	$6.2M	—
Q4 21	$0.09	$0.12	+33.3%	—	$5.8M	—
Q3 21	—	$0.14	—	—	$6.5M	—
Q2 21	—	$0.03	—	—	$5.1M	—
Q1 21	—	$0.19	—	—	$4.4M	—
Q3 14	$0.04	$0.04	0.0%	—	$2.6M	—
Q2 14	—	$0.01	—	—	$2M	—
Q1 14	—	-$0.04	—	—	$1.4M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.3	—	—	$24.9M	—
FY24	—	$0.4	—	—	$25.7M	—
FY23	—	$0.39	—	—	$25.1M	—
FY22	—	$0.34	—	—	$24.8M	—
FY21

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$11.6M	$15.4M	$17.8M	$20.8M	$20.1M	$21.9M	$24.8M	$25.1M	$25.7M	$24.9M
YoY change	+11.7%	+33%	+15.2%	+16.7%	-3.36%	+9.24%	+13.3%	+1.17%	+2.43%	-3.32%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	11.6M	15.4M	17.8M	20.8M	20.1M	21.9M	24.8M	25.1M	25.7M	24.9M
Cost of revenue	6.2M	8.6M	10.1M	11.7M	11.1M	12.2M	14.4M	14.6M	15.2M	15.4M
Gross profit	5.4M	6.8M	7.7M	9.1M	8.9M	9.7M	10.5M	10.5M	10.6M	9.5M
Gross margin	46.6%	44.2%	43.5%	43.7%	44.5%	44.4%	42.1%	41.9%	41%	38.2%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	4.8M	6.7M	6.9M	7.5M	7.2M	7.4M	7.8M	7.8M	8.4M	8.3M
Operating expenses	4.8M	6.7M	6.9M	7.5M	7.2M	7.4M	7.8M	7.8M	8.4M	8.3M
Operating income	634.5K	82.2K	874.6K	1.6M	1.7M	2.3M	2.7M	2.7M	2.2M	1.2M
Operating margin	5.46%	0.53%	4.91%	7.47%	8.4%	10.5%	10.7%	10.7%	8.57%	4.84%
Non-operating income, net	4.1K	14.6K	114.3K	-59K	173K	1.3M	167K	373K	741K	1M
Pretax income	637.1K	95.2K	984K	1.5M	1.8M	3.6M	2.8M	3.1M	3M	2.2M
Income tax	235.5K	266.2K	309K	460K	462K	659K	822K	913K	859K	693K
Net income	401.6K	-171.1K	675K	1M	1.4M	3M	2M	2.2M	2.1M	1.5M
Net margin	3.46%	-1.11%	3.79%	4.92%	6.9%	13.5%	8.03%	8.56%	8.23%	6.17%
EBITDA	906.3K	950.9K	1.8M	2.7M	2.7M	3.1M	3.4M	3.4M	2.9M	1.9M
EPS	0.08	0.04	0.12	0.2	0.23	0.49	0.34	0.39	0.4	0.3
Diluted EPS	0.08	0.04	0.12	0.2	0.22	0.49	0.33	0.39	0.4	0.3

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	7M	6.7M	5.6M	6.4M	7.1M	6.7M	5.3M	6.6M	7M	6M	5.4M	6.6M
Cost of revenue	4.1M	3.7M	3.3M	3.7M	4.3M	3.9M	3.1M	4.1M	4.3M	3.9M	3.3M	3.9M
Gross profit	2.9M	3M	2.3M	2.7M	2.8M	2.8M	2.2M	2.5M	2.7M	2.2M	2M	2.7M
Gross margin	40.9%	44.7%	41.7%	41.6%	39%	42%	41.6%	37.5%	38.3%	35.9%	38.1%	40.6%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.9M	2.1M	2.1M	2.1M	2.2M	2M	2.1M	1.9M	2.1M	2.2M	1.7M	2M
Operating expenses	1.9M	2.1M	2.1M	2.1M	2.2M	2M	2.1M	1.9M	2.1M	2.2M	1.7M	2M
Operating income	946K	923K	261K	583K	608K	755K	142K	549K	575K	-60K	298K	665K
Operating margin	13.5%	13.7%	4.68%	9.12%	8.55%	11.3%	2.69%	8.37%	8.2%	-0.99%	5.55%	10.1%
Non-operating income, net	64K	188K	5K	105K	66K	565K	-76K	219K	1M	-185K	-118K	-68K
Pretax income	1M	1.1M	265K	687K	673K	1.4M	69K	772K	1.6M	-238K	185K	606K
Income tax	286K	333K	87K	198K	181K	393K	38K	210K	480K	-35K	93K	193K
Net income	723K	776K	178K	489K	492K	961K	31K	562K	1.1M	-203K	92K	413K
Net margin	10.3%	11.5%	3.19%	7.65%	6.92%	14.4%	0.59%	8.56%	16.3%	-3.36%	1.71%	6.25%
EBITDA	1.1M	1.1M	423K	746K	779K	941K	319K	713K	731K	117K	458K	853K
EPS	0.13	—	0.03	0.09	0.09	0.18	0.01	0.11	0.22	-0.04	0.02	0.08
Diluted EPS	0.13	—	0.03	0.09	0.09	0.18	0.01	0.11	0.22	-0.04	0.02	0.08

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	192.5M	292.1M	197.6M	171M	85.7M	88.1M	83.2M	74.3M	70.4M	59.2M	57.7M
Enterprise value	189.4M	288.9M	196.3M	171.9M	85.9M	86M	82M	74.5M	70.9M	56.9M	51.1M
Shares outstanding	6M	6.2M	6.2M	6.2M	6.1M	6.1M	6M	5.5M	5.3M	5.2M	5.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	479.3	—	292.8	167.1	61.8	29.8	41.7	34.5	33.2	38.5	39.9
P/S	16.6	18.9	11.1	8.23	4.27	4.02	3.35	2.96	2.73	2.38	2.3
P/B	20.4	30.2	18.4	14.3	6.87	6.41	6.67	6.87	7.09	6.36	6.35
EV/EBITDA	209	303.8	107.2	64.6	31.9	27.7	23.9	22	24.6	30.3	24
EV/Sales	16.3	18.7	11	8.27	4.28	3.92	3.3	2.96	2.76	2.29	2.04
Earnings yield	0.21%	—	0.34%	0.6%	1.62%	3.36%	2.4%	2.9%	3.01%	2.59%	2.5%
FCF yield	0.28%	0.2%	0.4%	1.47%	2.32%	3.19%	2.87%	3.6%	3.65%	2.45%	2.01%
PEG	—	—	—	—	—	—	—	—	—	—	-1.46

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	46.6%	44.2%	43.5%	43.7%	44.5%	44.4%	42.1%	41.9%	41%	38.2%	40.6%
Operating margin	5.46%	0.53%	4.91%	7.47%	8.4%	10.5%	10.7%	10.7%	8.57%	4.84%	10.1%
Net margin	3.46%	-1.11%	3.79%	4.92%	6.9%	13.5%	8.03%	8.56%	8.23%	6.17%	5.78%
ROE	4.26%	-1.77%	6.27%	8.56%	11.1%	21.5%	16%	19.9%	21.3%	16.5%	15.4%
ROA	3.12%	-1.28%	4.67%	5.61%	7.12%	15%	10.9%	13.2%	13.9%	11.9%	6.12%
ROIC	6.27%	0%	6.32%	8.33%	9.97%	16.1%	16.7%	17.2%	15%	11.8%	16%
Return on tangible assets	-47.1%	-102.5%	131.6%	17.4%	18%	33.7%	26%	37.5%	36.4%	36.8%	27.5%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.55	2.97	2.57	2.14	2.39	2.9	2.6	2.09	1.74	2.03	1.67
Quick ratio	3.55	2.97	2.57	2.14	2.39	2.64	2.31	1.71	1.43	1.78	1.45
Debt / equity	0.02	0.02	0.04	0.32	0.37	0.24	0.25	0.26	0.26	0.1	0.08
Debt / assets	0.01	0.02	0.03	0.21	0.24	0.17	0.17	0.17	0.17	0.07	0.05
Net debt / EBITDA	-3.36	-3.38	-0.7	0.34	0.09	-0.66	-0.36	0.05	0.18	-1.2	-1.25
Interest coverage	421	60.8	204.4	149.3	143.1	604.3	939.7	614	745.8	744	1.1K
Effective tax rate	37%	100%	31.4%	31%	25%	18.2%	29.2%	29.8%	28.8%	31.1%	33.5%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	1.95	2.5	2.87	3.34	3.28	3.61	4.17	4.58	4.84	4.83	4.95
EPS (basic)	0.08	0.04	0.12	0.2	0.23	0.49	0.34	0.39	0.4	0.3	0.3
EPS (diluted)	0.08	0.04	0.12	0.2	0.22	0.49	0.33	0.39	0.4	0.3	0.29
Book value per share	1.58	1.57	1.73	1.92	2.04	2.26	2.1	1.97	1.87	1.81	1.82
FCF per share	0.09	0.09	0.13	0.4	0.32	0.46	0.4	0.49	0.48	0.28	0.2
Cash per share	0.54	0.56	0.28	0.47	0.71	0.89	0.73	0.48	0.38	0.62	0.69
Capex per share	0.07	0.01	0.06	0.06	0.08	0.04	0.01	0.03	0.03	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	3.74%	0.54%	2.06%	1.78%	2.31%	0.97%	0.36%	0.59%	0.62%	—	—
Capex / operating cash flow	67.9%	8.98%	26.7%	14.8%	17.6%	5.64%	3.35%	5.32%	4.69%	—	—
Payout ratio	—	—	—	—	0%	30.9%	0%	—	—	—	0%
Dividend yield	—	—	—	—	0%	1.04%	0%	—	—	—	—

Yield

—

trailing twelve months

Frequency

—

Last dividend

$0.15

ex-dividend Jul 26, 2021

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 26, 2021	$0.15

Split history

Date	Ratio
Dec 7, 2020	1:4
Dec 1, 2020	1:4

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$7M	$6.7M	$5.6M	$6.4M	$7.1M	$6.7M	$5.3M	$6.6M	$7M	$6M	$5.4M	$6.6M
YoY change	-3.5%	+10.5%	+5.98%	+4.39%	+1.37%	-1.03%	-5.54%	+2.61%	-1.29%	-9.31%	+1.74%	+0.75%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	3.2M	3.4M	1.7M	2.9M	4.4M	5.4M	4.4M	2.6M	2M	3.2M
Receivables	1.3M	1.9M	2.2M	2.5M	2.5M	2.2M	2.2M	2.1M	1.8M	1.7M
Inventory	—	—	—	—	0	767K	888K	1.1M	1M	792K
Total current assets	4.8M	5.6M	4.4M	5.9M	7.5M	8.7M	7.9M	6.2M	5.5M	6.3M
Property, plant & equipment	936.5K	773.6K	874.8K	3.8M	3.7M	3.3M	2.7M	2.3M	2M	318.7K
Goodwill & intangibles	13.7M	13.2M	14M	12.3M	11.7M	11M	10.6M	10.6M	9.5M	8.7M
Total assets	12.9M	13.3M	14.5M	18.2M	19.4M	19.8M	18.3M	16.3M	15.3M	12.9M
Accounts payable	333.8K	457.3K	533.9K	1M	649K	447K	640K	567K	468K	451K
Short-term debt	4.1K	17K	21.5K	247K	744K	326K	350K	312K	352K	434K
Total current liabilities	1.3M	1.9M	1.7M	2.7M	3.1M	3M	3M	3M	3.2M	3.1M
Long-term debt	173.8K	215.1K	427.1K	3.5M	3.9M	3M	2.8M	2.5M	2.2M	509K
Total liabilities	3.5M	3.7M	3.7M	6.3M	7M	6M	5.8M	5.5M	5.4M	3.6M
Shareholders' equity	9.4M	9.7M	10.8M	11.9M	12.5M	13.7M	12.5M	10.8M	9.9M	9.3M
Total debt	177.8K	232K	448.5K	3.8M	4.6M	3.4M	3.1M	2.8M	2.5M	943K
Net debt	-2.3M	-2.5M	-1M	1.2M	230K	-2M	-1.2M	159K	534K	-2.3M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	3.8M	2.6M	1.9M	2.6M	2.8M	2M	2.2M	3.2M	4.8M	3.2M	3.3M	3.4M
Receivables	2.3M	2.1M	2.1M	2.2M	2.2M	1.8M	1.8M	2.1M	2.4M	1.7M	2.1M	2.5M
Inventory	1.1M	1.1M	1.1M	1.2M	1.1M	1M	930K	1.1M	894K	792K	842K	989K
Total current assets	7.7M	6.2M	5.5M	7M	7.4M	5.5M	5.7M	7.1M	8.5M	6.3M	6.8M	7.5M
Property, plant & equipment	3.2M	2.3M	3.1M	3M	2.9M	2M	2.7M	2.7M	2.6M	318.7K	1.2M	1.1M
Goodwill & intangibles	10M	10.6M	10.3M	10.1M	9.9M	9.5M	9.3M	9.1M	8.9M	8.7M	9.5M	8.3M
Total assets	17.7M	16.3M	15.4M	16.8M	16.9M	15.3M	15.2M	16.6M	16.9M	12.9M	13.2M	13.6M
Accounts payable	722K	567K	677K	695K	873K	468K	546K	749K	739K	451K	569K	669K
Short-term debt	323K	312K	335K	343K	350K	352K	354K	374K	375K	434K	434K	435K
Total current liabilities	4.1M	3M	3.4M	4.7M	5.2M	3.2M	3.5M	4.5M	4.5M	3.1M	3.6M	4.5M
Long-term debt	2.6M	2.5M	2.5M	2.4M	2.3M	2.2M	2.1M	2.1M	2M	509K	403K	294K
Total liabilities	6.7M	5.5M	5.8M	7.1M	7.5M	5.4M	5.6M	6.7M	6.6M	3.6M	4M	4.8M
Shareholders' equity	11M	10.8M	9.6M	9.7M	9.5M	9.9M	9.6M	10M	10.3M	9.3M	9.2M	8.8M
Total debt	2.9M	2.8M	2.8M	2.7M	2.6M	2.5M	2.5M	2.5M	2.4M	943K	837K	729K
Net debt	-924K	159K	912K	113K	-126K	534K	222K	-721K	-2.4M	-2.3M	-2.4M	-2.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	401.6K	-171.1K	675K	1M	1.4M	3M	2M	2.2M	2.1M	1.5M
Depreciation & amortization	267.6K	854.2K	942.4K	1.1M	997K	799K	765K	634K	647K	650K
Stock-based compensation	121.9K	169.1K	161.1K	162K	121K	291K	154K	78K	34K	23K
Change in working capital	-400.7K	195.4K	-415.2K	306K	155K	-253K	-197K	-110K	499K	47K
Operating cash flow	639.1K	932.7K	1.4M	2.5M	2.6M	3.8M	2.7M	2.8M	3.4M	1.6M
Capital expenditure	-433.9K	-83.8K	-366.7K	-369K	-464K	-213K	-89K	-148K	-159K	—
Investing cash flow	-1.7M	-242.8K	-2M	-1.1M	-730K	-3K	-89K	-648K	-159K	1.8M
Dividends paid	—	—	—	—	0	-914K	0	—	—	—
Share repurchases	-347K	-199.6K	-384.5K	-555K	-1M	-1.1M	-3.5M	-4M	-3.3M	-2.2M
Financing cash flow	-381.3K	-206.8K	-402.7K	-604K	9K	-2M	-3.5M	-4M	-3.3M	-2.2M
Net change in cash	-1.5M	483.1K	-1M	771K	1.9M	1.7M	-901K	-1.8M	-53K	1.3M
Free cash flow	540.2K	573.5K	787.5K	2.5M	2M	2.8M	2.4M	2.7M	2.6M	1.5M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	723K	776K	178K	489K	492K	961K	31K	562K	1.1M	-203K	92K	413K
Depreciation & amortization	153K	146K	155K	156K	156K	180K	173K	159K	149K	169K	154K	179K
Stock-based compensation	6K	40K	11K	0	0	23K	0	0	0	23K	94K	0
Change in working capital	-209K	-220K	115K	674K	22K	-312K	116K	426K	-510K	15K	-341K	-219K
Operating cash flow	679K	757K	470K	1.3M	666K	930K	304K	1.2M	501K	-707K	523K	937K
Capital expenditure	-60K	-61K	-24K	-67K	-39K	-29K	-29K	—	—	—	—	—
Investing cash flow	-60K	-361K	-24K	-67K	-39K	-29K	-29K	—	—	0	—	—
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-855K	-1M	-1.5M	-389K	-734K	-651K	-383K	-251K	-718K	-814K	-293K	-809K
Financing cash flow	-858K	-1M	-1.5M	-393K	-737K	-655K	-387K	-254K	-722K	-818K	-296K	-812K
Net change in cash	-239K	-643K	-1.1M	864K	-110K	246K	-112K	927K	-221K	-1.5M	227K	125K
Free cash flow	1.3M	148K	676K	1.1M	873K	-79K	603K	1.1M	443K	-741K	375K	930K

Where Food Comes From, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement