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Village Farms International
(NASDAQ:VFF)
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Rating:69Neutral
Price Target:
$3.00
▲(55.44% Upside)
Action:Reiterated
Date:08/10/26
VFF scores positively on improved financial performance (profitability turnaround and low leverage) and supportive earnings-call guidance around capacity expansion, margins, and expected stronger free cash flow. Valuation also helps due to the low P/E. The main offsets are inconsistent cash conversion/free cash flow and a mixed technical picture with the stock still below longer-term moving averages and slightly negative MACD.
Positive Factors
Profitability Turnaround
The shift from substantial losses in 2022–2024 to sustained positive TTM earnings indicates improved operating execution. If margins remain resilient, this turnaround can strengthen reinvestment capacity and reduce dependence on external financing.
Negative Factors
Inconsistent Cash Conversion
Positive accounting earnings have not consistently translated into cash available to shareholders. Ongoing reinvestment, taxes, and working-capital requirements could constrain financial flexibility and make the recent earnings improvement less durable.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability Turnaround
The shift from substantial losses in 2022–2024 to sustained positive TTM earnings indicates improved operating execution. If margins remain resilient, this turnaround can strengthen reinvestment capacity and reduce dependence on external financing.
Read all positive factors
Village Farms International (VFF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$331.40M
Dividend YieldN/A
Average Volume (3M)885.03K
Price to Earnings (P/E)13.8
Beta (1Y)1.58
Revenue Growth-23.88%
EPS Growth115.43%
CountryUS
Employees1,128
SectorConsumer Defensive
Sector Strength42
IndustryAgricultural Farm Products
Share Statistics
EPS (TTM)0.20
Shares Outstanding122,286,300
10 Day Avg. Volume597,096
30 Day Avg. Volume885,030
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$4.75Price Target Upside146.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.16
Revenue Forecast (FY)$242.90M
Village Farms International Business Overview & Revenue Model
Company Description
Village Farms International, Inc. cultivates, markets, and distributes greenhouse-grown produce, including tomatoes, bell peppers, and cucumbers, across North America. The company operates through four primary divisions: Produce, Cannabis-Canada, ...
How the Company Makes Money
Village Farms International makes money primarily by selling products from its controlled-environment greenhouse operations and, where licensed, from cannabis-related cultivation and consumer packaged goods. Revenue is generated through (1) fresh ...
Village Farms International Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive operational and financial story: record cannabis revenues, strong export growth (74% YoY), significant gross margin expansion (up ~900 bps to 51%), and increasing adjusted EBITDA at the cannabis segment level. Key growth catalysts include Delta 2 expansion (incremental +15 mt in 2026, +25 mt in 2027, full +40 mt run rate by Q3 2027), a leading EU GMP-certified Delta campus, and early momentum in Netherlands recreational operations. Near-term headwinds include sizable tax and working capital cash outflows (reducing Q2 cash flow from $19.2M to $8.9M), higher SG&A %, a slight Netherlands Phase II delay, and maturation/price pressure in the Canadian market. Overall, the strengths and growth drivers presented materially outweigh the manageable near-term challenges.Positive Updates
Record Cannabis Revenues and Profitability
Consolidated net sales of $64.0M (+27% sequential, +7% year-over-year). Consolidated net income from continuing operations of $7.2M, or $0.06 per share. This marks the fifth consecutive quarter of positive net income and EPS since divesting the legacy produce business.
Negative Updates
Cash Flow from Cannabis Operations Declined Sequentially
Q2 cash flow from cannabis operations was $8.9M, down from $19.2M in Q2 of last year (approximately -54%), driven largely by payment of Canadian income taxes (~$17M in H1) and longer payment terms on international export sales as production footprint expands.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Cannabis Revenues and Profitability
Consolidated net sales of $64.0M (+27% sequential, +7% year-over-year). Consolidated net income from continuing operations of $7.2M, or $0.06 per share. This marks the fifth consecutive quarter of positive net income and EPS since divesting the legacy produce business.
Read all positive updates
Company Guidance
The company guided toward material near‑term production and financial upside: Delta 2 is expected to deliver an incremental 15 metric tons in 2026, a further 25 tons in 2027 (for a full 40‑ton run‑rate starting Q3 2027 and full availability in fiscal 2028), bringing Delta annualized production to ~160 metric tons once complete; Groningen (Netherlands) should ramp to full capacity by end of Q1 (2027); management expects to enter new European jurisdictions in H2 2026, to generate stronger free cash flow and to grow the cash balance in H2 (cash was $73M at quarter end, net cash position ~$33M), with CapEx nearly complete after $15M spent in H1; balance‑sheet items include long‑term debt of ~$40M at a 5.6% blended rate and a CAD 8.3M draw on the Pure Sunfarms facility. Operational and margin targets were reiterated: cannabis gross margin was 51% in Q2 (up 900 bps YoY) with cannabis adjusted EBITDA margin of 29% (adjusted EBITDA $15.3M), and the long‑term gross/EBITDA margin objective remains in the 30–40% range.Village Farms International Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 230.57M | 215.94M | 336.18M | 285.60M | 293.57M | 268.02M |
| Gross Profit | 102.12M | 87.68M | 47.40M | 49.43M | 27.50M | 45.18M |
| EBITDA | 49.42M | 50.44M | -15.10M | -6.93M | -77.77M | 3.20M |
| Net Income | 22.71M | 32.44M | -35.85M | -34.80M | -101.15M | -9.08M |
Balance Sheet | ||||||
| Total Assets | 428.47M | 423.10M | 389.31M | 466.99M | 465.29M | 566.91M |
| Cash, Cash Equivalents and Short-Term Investments | 72.93M | 81.19M | 24.63M | 30.29M | 16.68M | 53.42M |
| Total Debt | 46.19M | 33.82M | 47.49M | 67.62M | 61.10M | 65.85M |
| Total Liabilities | 116.27M | 113.03M | 125.35M | 148.05M | 145.29M | 142.07M |
| Stockholders Equity | 312.20M | 299.90M | 254.00M | 302.63M | 303.06M | 408.40M |
Cash Flow | ||||||
| Free Cash Flow | -2.12M | 31.50M | 107.00K | -1.20M | -34.18M | -61.22M |
| Operating Cash Flow | 26.21M | 49.72M | 10.35M | 5.32M | -19.89M | -39.57M |
| Investing Cash Flow | -29.35M | 20.10M | -10.24M | -6.23M | -20.90M | -63.47M |
| Financing Cash Flow | 11.32M | -10.35M | -9.53M | 14.14M | 4.50M | 135.88M |
Village Farms International Technical Analysis
Positive
1.93
Price Trends
2.11
Positive
2.37
Positive
2.89
Negative
Market Momentum
0.19
Negative
78.69
Negative
88.40
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VFF, the sentiment is Positive. The current price of 1.93 is below the 20-day moving average (MA) of 2.34, below the 50-day MA of 2.11, and below the 200-day MA of 2.89, indicating a neutral trend. The MACD of 0.19 indicates Negative momentum. The RSI at 78.69 is Negative, neither overbought nor oversold. The STOCH value of 88.40 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
69 Neutral | $331.40M | 13.77 | 7.56% | ― | -23.88% | 115.43% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
53 Neutral | $254.03M | -6.16 | -24.52% | 2.30% | -25.01% | -1680.30% | |
51 Neutral | $305.79M | 196.29 | 1.50% | 0.52% | -61.38% | ― | |
47 Neutral | $23.61M | -0.36 | 43.72% | ― | 17.77% | 80.48% | |
44 Neutral | $365.47M | -122.61 | -0.70% | 3.81% | 0.76% | -105.51% |
* Consumer Defensive Sector Average
VFF
Village Farms International
2.88
-0.08
-2.70%
ALCO
Alico
41.03
7.05
20.75%
LMNR
Limoneira Co
13.80
-2.21
-13.81%
AFRI
Forafric Global
11.00
2.30
26.44%
LND
BrasilAgro Cia Brasileira de Propriedades Agricolas
3.76
0.02
0.53%
LOCL
Local Bounti Corporation
0.99
-1.52
-60.48%
Village Farms International Corporate Events
Business Operations and StrategyFinancial Disclosures
Village Farms Schedules Second Quarter 2026 Results Call
Neutral
Jul 22, 2026
Village Farms International, Inc., a diversified player in global cannabis, plant-based consumer packaged goods and clean energy, operates extensive greenhouse and indoor cultivation assets and holds key positions in Canada, the Netherlands and th...
Private Placements and Financing
Village Farms Announces $15 Million Registered Direct Offering
Neutral
Jun 8, 2026
On June 5, 2026, Village Farms International, Inc. entered into securities purchase agreements for a registered direct offering of 7.5 million common shares at US$2.00 per share, expected to close on June 8, 2026. The transaction, conducted under ...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Village Farms Announces $15 Million Direct Share Offering
Positive
Jun 5, 2026
On June 5, 2026, Village Farms International announced it had entered into securities purchase agreements with leading U.S. institutional investors for a registered direct offering of 7,500,000 common shares, expected to raise gross proceeds of ab...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Village Farms Shareholders Back Leadership and Governance Structure
Positive
Jun 2, 2026
On June 2, 2026, Village Farms International, Inc. reported that shareholders approved all items at its annual meeting, with 57,069,476 shares, or 49.93% of outstanding stock, voted at the session. All director nominees, including CEO Michael A. D...
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.