Village Farms International (VFF) AI Stock Analysis

• Market Cap: $314.24M
• Dividend Yield: N/A
• Average Volume (3M): 1.10M
• Price to Earnings (P/E): 12.7
• Beta (1Y): 1.76
• Revenue Growth: -12.68%
• EPS Growth: N/A
• Country: US
• Employees: 1,400
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Agricultural Farm Products
• EPS (TTM): 0.02
• Shares Outstanding: 115,104,420
• 10 Day Avg. Volume: 1,341,153
• 30 Day Avg. Volume: 1,100,216
• PEG Ratio: -0.07
• Price to Book (P/B): 1.38
• Price to Sales (P/S): 1.91
• P/FCF Ratio: 13.10
• Enterprise Value/Market Cap: 0.87
• Enterprise Value/Revenue: 1.26
• Enterprise Value/Gross Profit: 3.11
• Enterprise Value/Ebitda: 6.22
• 1Y Price Target: $4.63
• Price Target Upside: 15.75% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 0.17
• Revenue Forecast (FY): $244.50M

• Rating: 55 Neutral
• Price Target: $3.00 ▼(-25.00% Downside)
• Action: Downgraded Date: 03/13/26
• Date: Action: Downgraded 03/13/26

The score is held back primarily by weak cash flow conversion and contracting revenue (financial performance) and by soft technical momentum (below key moving averages with negative MACD). These are partially offset by a constructive earnings-call outlook highlighting record profitability, strong operational execution, and capacity-driven growth initiatives.

Positive Factors

Margin improvement & profitability

Sharp margin improvement in the trailing period implies the company can generate durable earnings from current operations even if top-line growth lags. Higher margins reflect better pricing, mix towards cannabis and operating leverage, supporting reinvestment, coverage of fixed costs, and a stronger EBITDA base over the coming months.

Conservative balance sheet and liquidity

Low leverage and sizeable cash provide financial flexibility to fund capacity builds, weather operational variability, and support opportunistic buybacks or M&A. This reduces refinancing risk and gives management runway to execute growth initiatives without immediate dependence on high-cost external financing.

EU‑GMP certification and export scale-up

EU‑GMP certification and rapid export growth create a structural competitive advantage into regulated European markets where supply is constrained and pricing is stronger. Combined with on‑track Delta 2 and Netherlands Phase II capacity, this supports a meaningful multi‑year revenue and margin uplift as regulatory access and scale persist.

Negative Factors

Negative cash conversion (TTM)

Negative operating and free cash flow on a trailing basis undermines the sustainability of reported earnings and constrains internal funding for capex and working capital. Persistent cash conversion weakness increases the risk the company will need to draw financing or slow projects if temporary inflows do not materialize.

Declining revenue base

A materially shrinking top line reduces scale benefits and puts pressure on long‑term margin durability and return on invested capital. Even with improved margins, sustained revenue contraction can erode market share, limit pricing power, and lengthen the payback period on capacity investments.

Operational ramp, tax and supply risks

Ramp costs, elevated staffing and a large tax cash outflow will pressure near‑term cash and margins while Phase II comes online. Combined with seasonal supply constraints and localized market weakness (e.g., U.S. cannabis small negative EBITDA), these operational headwinds increase execution risk and quarter‑to‑quarter variability.

Village Farms International Business Overview & Revenue Model

Company Description

Village Farms International, Inc., together with its subsidiaries, produces, markets, and distributes greenhouse-grown tomatoes, bell peppers, and cucumbers in North America. It operates through four segments: Produce, Cannabis-Canada, Cannabis-U.S., and Energy. The company also owns and operates a power plant that generates and sells electricity, and provides thermal heat to British Columbia Hydro and Power Authority; produces and supplies cannabis products to other licensed providers and provincial governments in Canada and internationally; and develops and sells cannabinoid-based health and wellness products, including ingestible, edibles, and topical applications. It markets and distributes its products under the Village Farms brand name to retail supermarkets and fresh food distribution companies, as well as products produced under exclusive arrangements with other greenhouse producers. The company was formerly known as Village Farms Canada Inc. and changed its name to Village Farms International, Inc. in December 2009. Village Farms International, Inc. was founded in 1989 and is headquartered in Delta, Canada.

How the Company Makes Money

VFF makes money primarily by selling agricultural products it grows under greenhouse cultivation and by earning revenue from regulated cannabis operations held through subsidiaries and investments where permitted. (1) Fresh produce sales: The company generates revenue by producing greenhouse-grown vegetables and selling them into wholesale/retail distribution channels; revenue is driven by volumes shipped and market pricing for produce, and depends on greenhouse yields, production costs, and contracted or spot-market selling conditions. (2) Regulated cannabis revenue: Where VFF operates through subsidiaries in compliant jurisdictions, it earns revenue from the cultivation, processing, and sale of cannabis products through legally authorized channels; this revenue is influenced by regulatory frameworks (licensing, compliance), product mix, pricing, and distribution arrangements. (3) Other/ancillary and investment-related contributions: If applicable in reported periods, the company may also recognize revenue or income from ancillary arrangements tied to its facilities and operations (e.g., services or other business lines) and/or equity-accounted investments; specific partners, contract structures, and the materiality of these items are null.

Village Farms International Financial Statement Overview

Summary

Profitability improved sharply in TTM with strong margins and a low-leverage balance sheet, but the profile is weakened by meaningful revenue contraction and negative operating/free cash flow in TTM, which raises sustainability and cash-conversion concerns.

Income Statement

Profitability has improved sharply in TTM (Trailing-Twelve-Months), with a strong gross margin (~41%), solid operating profitability (~11% operating margin), and positive net margin (~15%) versus sizable losses in 2022–2024. The key weakness is growth and durability: TTM revenue fell meaningfully (~-24.6% year over year), following uneven multi-year revenue trends, so the recent profit rebound is occurring alongside a shrinking top line.

Balance Sheet

Leverage looks conservative, with low debt relative to equity in TTM (Trailing-Twelve-Months) (~0.13) and improving versus prior years, which reduces financial risk. Equity remains sizable and returns on equity turned positive in TTM (~11.5%) after multiple years of negative returns. The main watch-out is the company’s recent history of losses, which can pressure the balance sheet if profitability and cash generation do not hold.

Cash Flow

Cash generation is the weakest area: TTM (Trailing-Twelve-Months) operating cash flow and free cash flow are both negative (about -$11.8M each), a notable reversal from positive operating cash flow in 2023–2024. While accounting earnings are positive in TTM, the lack of cash conversion and the steep decline in free cash flow growth signal higher volatility and raise questions about the sustainability of the earnings rebound.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	215.94M	336.18M	285.60M	293.57M	268.02M
Gross Profit	87.68M	47.40M	49.43M	27.50M	45.18M
EBITDA	43.88M	-15.10M	-6.93M	-77.77M	3.20M
Net Income	32.44M	-35.85M	-34.80M	-101.15M	-9.08M
Balance Sheet
Total Assets	423.10M	389.31M	466.99M	465.29M	566.91M
Cash, Cash Equivalents and Short-Term Investments	81.19M	24.63M	30.29M	16.68M	53.42M
Total Debt	38.71M	47.49M	67.62M	61.10M	65.85M
Total Liabilities	113.03M	125.35M	148.05M	145.29M	142.07M
Stockholders Equity	299.90M	254.00M	302.63M	303.06M	408.40M
Cash Flow
Free Cash Flow	31.50M	107.00K	-1.20M	-34.18M	-61.22M
Operating Cash Flow	49.72M	10.35M	5.32M	-19.89M	-39.57M
Investing Cash Flow	20.10M	-10.24M	-6.23M	-20.90M	-63.47M
Financing Cash Flow	-10.35M	-9.53M	14.14M	4.50M	135.88M

Village Farms International Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VFF, the sentiment is Negative. The current price of 4 is above the 20-day moving average (MA) of 3.34, above the 50-day MA of 3.34, and above the 200-day MA of 2.78, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 30.08 is Neutral, neither overbought nor oversold. The STOCH value of 4.80 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VFF.

Village Farms International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
ALCO	58 Neutral	$299.68M	-19.99	-83.19%	0.55%	-5.52%	-2194.72%
VFF	55 Neutral	$314.24M	12.72	11.50%	―	-12.68%	―
LMNR	49 Neutral	$241.00M	-6.84	-4.88%	1.99%	-14.97%	-278.36%
LND	49 Neutral	$424.75M	191.55	-0.07%	3.39%	-3.22%	-108.24%
LOCL	43 Neutral	$22.94M	-0.64	96.71%	―	31.61%	37.02%

Village Farms International Corporate Events

Village Farms Sets Date for 2025 Results Announcement

Village Farms International said on February 26, 2026, that it will report its fourth-quarter and full-year 2025 financial results on March 12, 2026, with the release scheduled for 7:00 a.m. ET. Management will host a same-day conference call and webcast at 8:30 a.m. ET, including a question-and-answer session primarily for analysts, with email submissions invited from other stakeholders and an archived replay available online.

The announcement sets the timetable for investors and analysts to assess Village Farms’ performance across its cannabis, CBD, produce and clean energy businesses after a year of strategic focus on high-growth plant-based consumer markets. The planned disclosure and analyst call underscore the company’s effort to engage capital markets and provide transparency around its diversified operations and international expansion initiatives.

The most recent analyst rating on (VFF) stock is a Buy with a $3.50 price target. To see the full list of analyst forecasts on Village Farms International stock, see the VFF Stock Forecast page.

Village Farms Expands Cannabis Credit Facility to 2029

On February 20, 2026, Village Farms International amended its Canadian cannabis credit facility with Canadian Imperial Bank of Commerce, increasing loan commitments by C$15 million and extending maturities by one year to February 2029. The added capacity is structured as a delayed draw term loan, from which the company immediately drew C$5 million, while all other terms, including variable interest rates currently below 6.0%, remain unchanged.

Announced publicly on February 23, 2026, the financing underscores Village Farms’ strong credit profile following record financial performance and its lender support for ongoing expansion. Management framed the move as a disciplined use of the balance sheet that preserves the company’s net cash strength while providing low-cost capital to enhance operations and fund future organic and acquisition-driven growth, reinforcing its competitive position in global cannabis markets.

The most recent analyst rating on (VFF) stock is a Buy with a $3.50 price target. To see the full list of analyst forecasts on Village Farms International stock, see the VFF Stock Forecast page.