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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:46Neutral
Price Target:
C$0.27
▼(-2.14% Downside)
Goodfood Market Corp's overall stock score is primarily impacted by its poor financial performance, with significant challenges in revenue, profitability, and financial stability. While technical analysis shows some positive trends, the valuation metrics and mixed earnings call results highlight ongoing challenges. The lack of corporate events further emphasizes the need for strategic improvements.
Positive Factors
Consistent Profitability
Consistent profitability over multiple quarters indicates strong financial management and operational efficiency, contributing to long-term stability.
Strategic Growth Initiatives
Acquisitions like Genuine Tea enhance product offerings and support revenue growth, strengthening market position and competitive advantage.
Improved Gross Margin
Improved gross margins reflect effective cost management, enhancing profitability and providing a buffer against market fluctuations.
Negative Factors
Declining Revenue
Declining revenue indicates potential challenges in maintaining customer engagement and market share, impacting long-term growth prospects.
Decreasing Customer Base
A shrinking customer base suggests difficulties in customer retention and acquisition, which could hinder revenue growth and market expansion.
Negative Free Cash Flow
Negative free cash flow growth indicates cash generation issues, limiting the company's ability to invest in growth opportunities and manage debt.
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-20.91%
EPS Growth-109.64%
CountryCA
Employees570
SectorConsumer Cyclical
Sector Strength84
IndustryPersonal Products & Services
Share Statistics
EPS (TTM)-0.04
Shares Outstanding98,352,615
10 Day Avg. Volume232,314
30 Day Avg. Volume342,794
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
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 leading Canadian online grocery and meal kit delivery service that focuses on providing fresh ingredients and easy-to-follow recipes directly to consumers' homes. Operating primarily in the food sector, Goodfood offers a variety of meal plans, including vegetarian options, as well as grocery items such as fresh produce, meats, and pantry staples. The company aims to simplify meal preparation and enhance the cooking experience for busy individuals and families across Canada.
How the Company Makes MoneyGoodfood generates revenue primarily through its subscription-based meal kit service, where customers pay for weekly deliveries of curated meal kits. Additionally, the company earns income from its grocery delivery service, providing a wide range of grocery items beyond meal kits. Key revenue streams include direct sales of meal kits, add-on grocery items, and partnerships with various food brands for featured products. The company's innovative approach to e-commerce and meal preparation, along with strategic marketing efforts and customer retention strategies, further contribute to its earnings.
Goodfood Market Corp Earnings Call Summary
Earnings Call Date:Nov 27, 2025
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jan 20, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture. Goodfood reported positive adjusted EBITDA and free cash flow, successful product launches, and improved sales per customer. However, these positives were offset by a significant decline in net sales and active customers due to persistent demand challenges in the meal-kit market.Q4-2025 Updates
Positive Updates
Positive Adjusted EBITDA and Free Cash Flow
Goodfood delivered positive adjusted EBITDA for the full year, achieving 11 consecutive quarters of positive adjusted EBITDA. Fiscal 2025 adjusted EBITDA was $6 million, representing a 5% margin. Additionally, Goodfood achieved positive adjusted free cash flow in 6 of the past 8 quarters.
Genuine Tea Acquisition Success
The acquisition of Genuine Tea is proving to be both growth and margin accretive, with the brand growing sales at over 30% annually while delivering consistent and healthy EBITDA.
Increased Net Sales Per Active Customer
Net sales per active customer increased 12% year-over-year to $379, driven by higher basket sizes and lower incentives.
Improved Gross Margin
Gross margin improved to 40.3% for the quarter, up 220 basis points from last year.
Successful Launch of Heat & Eat
The Heat & Eat product is progressing well, nearing $4 million of annualized sales, providing a new growth avenue.
Negative Updates
Decline in Net Sales and Active Customers
Net sales for the fourth quarter were $25 million, down $9 million year-over-year. The active customer base decreased to 66,000 from 101,000 last year.
Challenges in Meal-Kit Demand
Headwinds in meal-kit demand persisted, with continued demand challenges expected across the market, impacting Goodfood and competitors.
Company Guidance
During Goodfood's Q4 and Fiscal 2025 earnings call, the key performance metrics highlighted include adjusted EBITDA of $6 million, representing a 5% margin, compared to $9 million or a 6% margin in the previous year. Despite a challenging environment, Goodfood achieved 11 consecutive quarters of positive adjusted EBITDA and positive adjusted free cash flow. Net sales for the fourth quarter were $25 million, reflecting a $9 million year-over-year decline, with active customers dropping to 66,000 from 101,000. However, net sales per active customer increased by 12% to $379. Gross profit was $10 million, with a gross margin of 40.3%, up 220 basis points from the previous year. Adjusted free cash flow improved to $1.7 million, marking a $2.8 million year-over-year increase. The company also made strategic investments, including the acquisition of Genuine Tea, which is experiencing over 30% annual sales growth and contributing positively to EBITDA.Goodfood Market Corp Financial Statement Overview
Summary
Goodfood Market Corp faces significant financial challenges, including declining revenue, negative profitability, high financial leverage, and negative equity. Cash flow issues further exacerbate the company's financial instability.Income Statement
Goodfood Market Corp has experienced declining revenue over the past few years, with a negative revenue growth rate of -6.95% in the most recent year. The company also faces challenges with profitability, as indicated by negative net profit margins and EBIT margins. Despite a reasonable gross profit margin, the overall income statement reflects a struggling financial performance.35
Negative
Balance Sheet
The balance sheet shows significant financial leverage, with a negative stockholders' equity and a high debt-to-equity ratio. This indicates potential financial instability and risk. The equity ratio is negative, reflecting a concerning financial position. Overall, the balance sheet suggests a need for improved financial management and capital structure.25
Negative
Cash Flow
Cash flow analysis reveals a decline in free cash flow growth, with a significant drop of -162.45% in the latest year. The operating cash flow to net income ratio is positive, indicating some ability to generate cash from operations. However, the overall cash flow situation remains challenging, with limited free cash flow relative to net income.40
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 120.88M | 120.88M | 152.84M | 168.56M | 268.59M | 379.23M |
| Gross Profit | 50.40M | 50.40M | 62.98M | 65.38M | 68.06M | 116.09M |
| EBITDA | 4.50M | 4.46M | 10.74M | 892.00K | -98.39M | -18.30M |
| Net Income | -8.10M | -8.10M | -3.43M | -16.46M | -121.76M | -31.79M |
Balance Sheet | ||||||
| Total Assets | 41.76M | 41.76M | 52.31M | 57.81M | 129.85M | 255.26M |
| Cash, Cash Equivalents and Short-Term Investments | 15.77M | 15.77M | 24.01M | 24.93M | 36.88M | 125.53M |
| Total Debt | 51.80M | 51.80M | 59.87M | 59.15M | 108.42M | 100.08M |
| Total Liabilities | 69.03M | 69.03M | 78.39M | 81.25M | 141.03M | 157.39M |
| Stockholders Equity | -27.27M | -27.27M | -26.08M | -23.44M | -11.18M | 97.88M |
Cash Flow | ||||||
| Free Cash Flow | 464.00K | 464.00K | 6.87M | -11.09M | -97.42M | -35.11M |
| Operating Cash Flow | 1.98M | 1.98M | 7.49M | -9.35M | -58.98M | -16.36M |
| Investing Cash Flow | -4.77M | -4.77M | 773.00K | 1.96M | -37.67M | -18.01M |
| Financing Cash Flow | -8.88M | -8.88M | -9.18M | -4.57M | 8.00M | 55.50M |
Goodfood Market Corp Technical Analysis
Positive
0.28
Price Trends
0.27
Positive
0.25
Positive
0.22
Positive
Market Momentum
>-0.01
Negative
62.36
Neutral
66.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FOOD, the sentiment is Positive. The current price of 0.28 is above the 20-day moving average (MA) of 0.24, above the 50-day MA of 0.27, and above the 200-day MA of 0.22, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 62.36 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | $501.97M | 16.02 | 10.19% | 6.00% | 1.35% | -1.11% | |
70 Outperform | C$41.81M | 26.59 | 7.33% | ― | 41.93% | ― | |
68 Neutral | C$869.11M | 26.64 | 3.64% | 3.50% | 1.38% | -64.10% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
46 Neutral | C$27.54M | -3.02 | ― | ― | -20.91% | -109.64% |
* Consumer Cyclical Sector Average
TSE:FOOD
Goodfood Market Corp
0.28
-0.14
-33.33%
TSE:DTEA
DAVIDsTEA
1.05
0.68
180.00%
TSE:PZA
Pizza Pizza Royalty
15.50
3.15
25.56%
TSE:IFA
iFabric
1.33
0.23
20.91%
TSE:AEG
Aegis Brands
0.29
-0.09
-23.68%
TSE:MTY
MTY Food Group
37.74
-8.32
-18.07%
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.