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Goodfood Market Corp (TSE:FOOD)
TSX:FOOD
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Goodfood Market Corp
(TSX:FOOD)
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Rating:48Neutral
Price Target:
C$0.00
▼(-100.00% Downside)
Goodfood Market Corp's overall stock score is primarily impacted by its financial challenges, including negative equity and cash flow issues. While the company shows positive momentum and strategic growth initiatives, the negative valuation metrics and declining customer base weigh heavily on the score.
Goodfood Market Corp (FOOD) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$27.54M
Dividend YieldN/A
Average Volume (3M)342.79K
Price to Earnings (P/E)―
Beta (1Y)1.25
Revenue Growth-16.73%
EPS Growth-78.61%
CountryCA
Employees570
SectorConsumer Cyclical
Sector Strength84
IndustryPersonal Products & Services
Share Statistics
EPS (TTM)N/A
Shares Outstanding98,352,615
10 Day Avg. Volume232,314
30 Day Avg. Volume342,794
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)-0.83
Price to Sales (P/S)0.14
P/FCF Ratio3.14
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Goodfood Market Corp Business Overview & Revenue Model
Company DescriptionGoodfood Market Corp (FOOD) is a Canadian subscription meal kit service that provides consumers with fresh ingredients and easy-to-follow recipes, enabling them to prepare home-cooked meals. Operating primarily in the food and beverage sector, Goodfood aims to simplify meal preparation and enhance culinary experiences for its customers. The company offers a variety of meal plans tailored to different dietary preferences and lifestyles, including vegetarian, family-friendly, and quick-prep options.
How the Company Makes MoneyGoodfood Market Corp generates revenue primarily through its subscription-based model. Customers subscribe to meal plans, selecting from a range of curated meal kits that are delivered directly to their homes. Revenue is derived from the subscription fees paid by customers, which can vary based on the number of servings and frequency of deliveries chosen. Additionally, Goodfood may earn income from add-on products such as premium meal options or complementary grocery items. The company's partnerships with suppliers and logistics providers help streamline operations and reduce costs, contributing to its profitability. Seasonal promotions and limited-time offers can also drive sales and increase customer retention.
Goodfood Market Corp Earnings Call Summary
Earnings Call Date:Jul 22, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Jan 20, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted Goodfood's consistent profitability and strategic growth initiatives despite macroeconomic challenges. While the company showcased strong financial discipline and innovative product offerings, there were notable declines in net sales and active customers. Overall, the performance indicates resilience and strategic focus on quality customer acquisition and profitability.Q3-2025 Updates
Positive Updates
Tenth Consecutive Profitable Quarter
Goodfood achieved its tenth consecutive quarter of profitable execution with an adjusted EBITDA of nearly $3 million in Q3, representing 8.6% of net sales.
Record Basket Sizes and Customer Engagement
The quarter saw record basket sizes, with net sales per active customer reaching a record $404, reflecting strong product offerings and customer engagement.
Successful Growth of Genuine Tea
The acquisition of Genuine Tea has been growth accretive and margin supportive, with sales growing at over 30% annually.
Positive Cash Flow and Liquidity
Cash flow from operations turned positive at $0.6 million, and liquidity remains solid with $17 million in cash and marketable securities.
Negative Updates
Decline in Net Sales
Net sales for the third quarter were $30.7 million, down $7.9 million year-over-year, primarily due to a lower active customer base.
Decrease in Active Customers
The active customer base declined from 105,000 last year to 76,000 this quarter, impacted by macroeconomic caution and a reduction in incentive-led customer acquisition.
Company Guidance
During the Goodfood Q3 Fiscal 2025 earnings call, several key metrics and strategic initiatives were highlighted. The company achieved its tenth consecutive quarter of profitable execution, with adjusted EBITDA reaching $3 million, representing 8.6% of net sales, and a year-to-date adjusted EBITDA of approximately $6 million, or a 6% margin. Despite a year-over-year decline in net sales to $30.7 million, driven by a reduction in the active customer base from 105,000 to 76,000, the net sales per active customer reached a record $404. The gross margin improved to 44.3%, supported by disciplined cost control. In addition, the acquisition of Genuine Tea contributed positively, with sales growing over 30% annually. The company also added $1 million to its Bitcoin ETF treasury reserves, enhancing balance sheet flexibility. Looking forward, Goodfood plans to scale its Heat & Eat offering, which has reached a $1 million annualized revenue run rate in Quebec, and continues to explore targeted acquisitions and geographic expansion to further drive long-term per share value.Goodfood Market Corp Financial Statement Overview
Summary
Goodfood Market Corp faces significant financial challenges, including declining revenues, negative profitability margins, and high leverage. The negative equity and cash flow issues are concerning, despite some operational efficiencies.Income Statement
Goodfood Market Corp has experienced declining revenue over recent periods, with a negative revenue growth rate of -5.72% in the TTM. The gross profit margin remains relatively stable at 41%, indicating efficient cost management. However, the company struggles with profitability, as evidenced by a negative net profit margin of -5.53% and negative EBIT margin. The EBITDA margin is slightly positive at 4.81%, suggesting some operational efficiency.45
Neutral
Balance Sheet
The balance sheet shows significant financial leverage with a negative debt-to-equity ratio, indicating high debt levels relative to negative equity. The return on equity is positive at 26.94%, but this is due to negative equity, which is a concern. The equity ratio is negative, reflecting a precarious financial position with liabilities exceeding assets.30
Negative
Cash Flow
Cash flow analysis reveals challenges, with negative free cash flow growth of -121.34% in the TTM. The operating cash flow to net income ratio is low at 0.04, indicating limited cash generation from operations. The free cash flow to net income ratio is negative, highlighting cash flow difficulties.25
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 129.91M | 152.84M | 168.56M | 268.59M | 379.23M | 285.37M |
| Gross Profit | 53.30M | 62.98M | 65.38M | 68.06M | 116.09M | 86.42M |
| EBITDA | 6.25M | 10.74M | 892.00K | -98.39M | -18.30M | 2.49M |
| Net Income | -7.18M | -3.43M | -16.46M | -121.76M | -31.79M | -5.34M |
Balance Sheet | ||||||
| Total Assets | 45.19M | 52.31M | 57.81M | 129.85M | 255.26M | 163.05M |
| Cash, Cash Equivalents and Short-Term Investments | 16.86M | 24.01M | 24.93M | 36.88M | 125.53M | 104.40M |
| Total Debt | 52.17M | 59.87M | 59.15M | 108.42M | 100.08M | 59.22M |
| Total Liabilities | 68.44M | 78.39M | 81.25M | 141.03M | 157.39M | 105.49M |
| Stockholders Equity | -23.25M | -26.08M | -23.44M | -11.18M | 97.88M | 57.56M |
Cash Flow | ||||||
| Free Cash Flow | -743.00K | 6.87M | -11.09M | -97.42M | -35.11M | -1.65M |
| Operating Cash Flow | 703.00K | 7.49M | -9.35M | -58.98M | -16.36M | 8.55M |
| Investing Cash Flow | -4.34M | 773.00K | 1.96M | -37.67M | -18.01M | -9.42M |
| Financing Cash Flow | -8.89M | -9.18M | -4.57M | 8.00M | 55.50M | 60.12M |
Goodfood Market Corp Technical Analysis
Negative
0.23
Price Trends
0.29
Negative
0.24
Negative
0.24
Negative
Market Momentum
-0.01
Positive
32.74
Neutral
38.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FOOD, the sentiment is Negative. The current price of 0.23 is below the 20-day moving average (MA) of 0.27, below the 50-day MA of 0.29, and below the 200-day MA of 0.24, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 32.74 is Neutral, neither overbought nor oversold. The STOCH value of 38.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:FOOD.
Goodfood Market Corp Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | C$485.96M | 15.40 | 10.19% | 6.38% | 1.35% | -1.11% | |
68 Neutral | $798.53M | 24.77 | 3.64% | 3.78% | 1.38% | -64.10% | |
67 Neutral | C$37.87M | 24.08 | 7.33% | ― | 41.93% | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
48 Neutral | C$27.54M | -3.02 | ― | ― | -16.73% | -78.61% |
* Consumer Cyclical Sector Average
TSE:FOOD
Goodfood Market Corp
0.23
-0.22
-48.89%
TSE:DTEA
DAVIDsTEA
0.90
0.54
150.00%
TSE:PZA
Pizza Pizza Royalty
14.57
2.06
16.51%
TSE:IFA
iFabric
1.25
0.09
7.76%
TSE:AEG
Aegis Brands
0.29
-0.08
-21.62%
TSE:MTY
MTY Food Group
34.96
-9.17
-20.78%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.