Village Farms International (Otc) (VFF)
NASDAQ:VFF
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Village Farms International
(NASDAQ:VFF)
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Rating:66Neutral
Price Target:
$3.00
▼(-25.00% Downside)
Action:Reiterated
Date:05/14/26
The score is driven primarily by improved financial fundamentals (profitability turnaround and low leverage) and constructive earnings-call guidance for stronger H2 2026 and cash-flow improvement. These positives are tempered by weak technical momentum (below key moving averages with negative MACD) and a valuation that is only moderate given TTM revenue decline and uneven free-cash-flow conversion.
Positive Factors
Profitability Turnaround
Village Farms moved from multi-year losses to materially positive margins and mid-teens ROE, indicating structurally improved unit economics. Durable gross and net margins support sustained cash generation and reinvestment ability, reducing reliance on volatile top-line swings over the next several quarters.
Negative Factors
Volatile Cash Conversion
Free cash flow has proved more volatile than reported profits, driven by working-capital swings and elevated reinvestment needs. Lower FCF coverage of net income constrains organic reinvestment and raises sensitivity to one-off tax/excise outflows, making cash sustainability a watch item.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability Turnaround
Village Farms moved from multi-year losses to materially positive margins and mid-teens ROE, indicating structurally improved unit economics. Durable gross and net margins support sustained cash generation and reinvestment ability, reducing reliance on volatile top-line swings over the next several quarters.
Read all positive factors
Village Farms International (VFF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$294.86M
Dividend YieldN/A
Average Volume (3M)1.27M
Price to Earnings (P/E)27.5
Beta (1Y)1.59
Revenue Growth-32.43%
EPS GrowthN/A
CountryUS
Employees1,400
SectorConsumer Defensive
Sector Strength42
IndustryAgricultural Farm Products
Share Statistics
EPS (TTM)0.41
Shares Outstanding114,288,690
10 Day Avg. Volume1,645,955
30 Day Avg. Volume1,273,167
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)1.38
Price to Sales (P/S)1.91
P/FCF Ratio13.10
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue1.26
Enterprise Value/Gross Profit3.01
Enterprise Value/Ebitda5.15
Forecast
1Y Price Target
$4.63Price Target Upside15.63% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.17
Revenue Forecast (FY)$243.14M
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....
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 comp...
Village Farms International Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The earnings call conveyed a largely positive operating and financial performance: robust revenue growth (+27% YoY), record international export sales (+171% YoY), strong adjusted EBITDA expansion (+118% YoY) and return to net income, supported by strategic EU‑GMP capacity and brand strength in Canada. Headwinds were primarily cash flow timing and one‑time tax payments, modest operational delays in the Netherlands awaiting certification, industry price normalization in some markets, and regulatory uncertainty around U.S. rescheduling. Management presented these challenges as manageable and temporary while emphasizing disciplined capital allocation and continued expansion, indicating confidence in sustainable profitable growth.Positive Updates
Revenue Growth
Consolidated net sales increased 27% year‑over‑year to $50.2 million, driven by strength in international medical exports and Canadian branded sales.
Negative Updates
Q1 Negative Operating Cash Flow (Tax Impact)
Consolidated cash flow from operations was negative $16.8 million, largely driven by payment of Canadian corporate income taxes (CAD 16.4M / USD ~12.1M) and working capital investments; cannabis operations cash flow was negative $11.8 million (would have been $4.1 million positive excluding tax payments).
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth
Consolidated net sales increased 27% year‑over‑year to $50.2 million, driven by strength in international medical exports and Canadian branded sales.
Read all positive updates
Company Guidance
Management guided to a stronger back half of fiscal 2026 as Delta 2 (first harvest the week of May 18; initial sales late Q2/early Q3) ramps toward 40 metric tons of annual capacity by mid‑next year (a 33% increase in B.C. production vs. FY25, with ~15 metric tons incremental this year) and Groningen Phase 2 is expected to commence operations before the end of Q2, with plans to enter multiple new jurisdictions and expand non‑flower form factors; they also expect pricing for EU‑GMP flower (notably in Germany) to remain relatively stable. Village Farms expects to return to positive consolidated cash flow in Q2 and sustain it through the remainder of the year, supporting an increase in cash from Q1’s ~$56M (restricted $5M; net cash ~$20M) despite Q1 cash impacts including CAD 16.4M ($12.1M) of Canadian income tax, $15.9M of excise taxes, $9.2M of capex and $6.4M of share repurchases (total debt $36M); the guidance is supported by Q1 trends of consolidated net sales up 27% to $50.2M, international export sales near $15M (↑171% YoY, ↑60% sequential), consolidated adjusted EBITDA $9.9M (+118%, 20% margin), cannabis adjusted EBITDA $10.2M (+48%, 20.5% margin) and cannabis gross margin 43% (above the 30–40% target), with a stated line of sight to continued profitable growth through 2027.Village Farms International Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 226.50M | 215.94M | 336.18M | 285.60M | 293.57M | 268.02M |
| Gross Profit | 94.49M | 87.68M | 47.40M | 49.43M | 27.50M | 45.18M |
| EBITDA | 55.31M | 50.44M | -15.10M | -6.93M | -77.77M | 3.20M |
| Net Income | 42.06M | 32.44M | -35.85M | -34.80M | -101.15M | -9.08M |
Balance Sheet | ||||||
| Total Assets | 400.88M | 423.10M | 389.31M | 466.99M | 465.29M | 566.91M |
| Cash, Cash Equivalents and Short-Term Investments | 50.47M | 81.19M | 24.63M | 30.29M | 16.68M | 53.42M |
| Total Debt | 40.48M | 38.71M | 47.49M | 67.62M | 61.10M | 65.85M |
| Total Liabilities | 97.10M | 113.03M | 125.35M | 148.05M | 145.29M | 142.07M |
| Stockholders Equity | 293.97M | 299.90M | 254.00M | 302.63M | 303.06M | 408.40M |
Cash Flow | ||||||
| Free Cash Flow | 14.49M | 31.50M | 107.00K | -1.20M | -34.18M | -61.22M |
| Operating Cash Flow | 39.44M | 49.72M | 10.35M | 5.32M | -19.89M | -39.57M |
| Investing Cash Flow | 13.75M | 20.10M | -10.24M | -6.23M | -20.90M | -63.47M |
| Financing Cash Flow | -13.69M | -10.35M | -9.53M | 14.14M | 4.50M | 135.88M |
Village Farms International Technical Analysis
Negative
4.00
Price Trends
2.76
Negative
3.09
Negative
3.12
Negative
Market Momentum
-0.08
Positive
42.64
Neutral
12.70
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 2.71, above the 50-day MA of 2.76, and above the 200-day MA of 3.12, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 42.64 is Neutral, neither overbought nor oversold. The STOCH value of 12.70 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VFF.
Village Farms International Risk Analysis
Village Farms International disclosed 64 risk factors in its most recent earnings report. Village Farms International reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Village Farms International Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $294.86M | 27.51 | 14.34% | ― | -32.43% | ― | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
58 Neutral | $303.77M | 6.98 | -18.22% | 0.55% | -66.78% | 86.61% | |
49 Neutral | $369.70M | -200.47 | -0.70% | 3.39% | 0.76% | -105.51% | |
48 Neutral | $43.54M | -0.55 | 66.22% | ― | 21.12% | 76.13% | |
47 Neutral | $231.41M | -6.84 | -12.83% | 1.99% | -22.82% | -400.45% |
* Consumer Defensive Sector Average
VFF
Village Farms International
2.58
1.52
143.40%
ALCO
Alico
40.96
9.89
31.82%
LMNR
Limoneira Co
12.78
-2.50
-16.36%
AFRI
Forafric Global
10.01
2.22
28.50%
LND
BrasilAgro Cia Brasileira de Propriedades Agricolas
3.79
0.10
2.71%
LOCL
Local Bounti Corporation
1.91
-0.23
-10.75%
Village Farms International Corporate Events
Financial Disclosures
Village Farms Schedules First Quarter 2026 Earnings Release
Neutral
Apr 29, 2026
Village Farms International, Inc., a diversified cannabis and plant-based consumer products company with significant controlled-environment cultivation assets and operations spanning Canada, the Netherlands and the United States, detailed plans fo...
Business Operations and StrategyExecutive/Board Changes
Village Farms Announces CFO Succession and M&A Focus
Positive
Apr 3, 2026
On March 30, 2026, Village Farms International’s long-serving Chief Financial Officer, Stephen Ruffini, notified the company that he intends to transition out of the CFO role as part of a planned succession process. He will remain in the pos...
Financial Disclosures
Village Farms Sets Date for 2025 Results Announcement
Neutral
Feb 26, 2026
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 ...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Village Farms Expands Cannabis Credit Facility to 2029
Positive
Feb 23, 2026
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 c...
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.