Village Farms International (Otc) (VFF)
NASDAQ:VFF
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Village Farms International
(NASDAQ:VFF)
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Rating:60Neutral
Price Target:
$3.00
▼(-25.00% Downside)
Action:ReiteratedDate:04/03/26
The score is anchored by a mixed financial picture: profitability and balance-sheet leverage improved, but negative operating/free cash flow and contracting TTM revenue temper confidence in durability. The latest earnings call was a meaningful positive (profitability, exports, and capacity expansion progress), while technicals remain bearish with the stock below key moving averages. Valuation is moderate (P/E ~12.7) without dividend support, and recent corporate events are modestly supportive due to financing flexibility and leadership transition planning.
Positive Factors
Improved Profitability and Margins
Sustained margin recovery and a positive return on equity indicate the company now generates stronger underlying earnings from operations. Durable margins increase internal funding capacity for growth projects and provide a buffer against revenue cyclicality, supporting medium-term profitability resilience.
Negative Factors
Weak Cash Conversion
Negative operating and free cash flow despite reported earnings means cash generation is fragile. Over multiple quarters this forces reliance on cash reserves or credit to fund operations and capex, elevating refinancing and execution risk if margins or revenue weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Profitability and Margins
Sustained margin recovery and a positive return on equity indicate the company now generates stronger underlying earnings from operations. Durable margins increase internal funding capacity for growth projects and provide a buffer against revenue cyclicality, supporting medium-term profitability resilience.
Read all positive factors
Village Farms International (VFF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$306.18M
Dividend YieldN/A
Average Volume (3M)1.20M
Price to Earnings (P/E)42.4
Beta (1Y)1.60
Revenue Growth-12.68%
EPS GrowthN/A
CountryUS
Employees1,400
SectorConsumer Defensive
Sector Strength42
IndustryAgricultural Farm Products
Share Statistics
EPS (TTM)0.02
Shares Outstanding115,104,420
10 Day Avg. Volume736,030
30 Day Avg. Volume1,200,587
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 Cap0.86
Enterprise Value/Revenue1.04
Enterprise Value/Gross Profit3.11
Enterprise Value/Ebitda6.01
Forecast
1Y Price Target
$4.63Price Target Upside15.75% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.17
Revenue Forecast (FY)$244.50M
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:Mar 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call conveyed a strongly positive operational and financial trajectory: record full-year profitability, materially higher adjusted EBITDA and cash flow, robust margin improvement in Canada, and rapid international export growth supported by EU GMP certification and on-time capacity expansions. The company also highlighted a solid balance sheet, prudent financing, and active share repurchases. Offsetting factors include temporary supply/biomass constraints (seasonality and a BC labor strike), shipment timing variability impacting quarter-to-quarter results, modest weakness in the U.S. business, near-term Netherlands ramp costs, and an increased Canadian tax cash outflow that will affect 2026 cash flow. Overall, the positive, multi-metric improvements and clear execution on expansions outweigh the temporary and localized challenges described.Positive Updates
Record Profitability and Earnings Growth
Net income from continuing operations of $21.0M (or $0.19/sh) for FY2025, a $49M improvement year-over-year; Adjusted EBITDA from continuing operations of $50M (improvement of $48M).
Negative Updates
Temporary Supply/Biomass Constraints and Seasonal Variability
Near-term supply constraints and seasonal production declines reduced ability to meet demand; company noted lean inventory entering 2025 and Q4 production seasonality that can increase sequential costs.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Profitability and Earnings Growth
Net income from continuing operations of $21.0M (or $0.19/sh) for FY2025, a $49M improvement year-over-year; Adjusted EBITDA from continuing operations of $50M (improvement of $48M).
Read all positive updates
Company Guidance
The company guided to sequential growth in international exports beginning in Q1 and said it expects to begin shipping to multiple new jurisdictions over the next several months; operationally, Delta 2 is on track (first plantings March 2) with early contributions expected late Q2, ~15 metric tons incremental harvest this year and a run-rate increase of ~40 metric tons annually at full capacity by mid‑2027 (≈33% above FY2025), while Netherlands Phase II is nearing completion (painted end of the month, full capacity expected in Q2) and should lift total Dutch capacity to ~10 metric tons (vs. <2 tons harvested in FY2025) with a substantial revenue and EBITDA uplift expected in H2; financing and cash priorities include an incremental CAD15M delayed‑draw term loan at just over 5% (CAD5M drawn), a planned CAD3M EU‑GMP investment this year, roughly $86M cash on hand (including $5M restricted), net cash of ~$53M, total debt ~$34M, a $16M Canadian tax cash payment made Feb. 28 that will affect 2026 cash flow, and continued activity under a share buyback program (up to ~5M shares) after repurchasing ~813k shares for $3M in Q4 and ~1.1M for $3.7M in early Q1; management reiterated a balanced capital allocation approach with targeted profitable growth and opportunistic M&A.Village Farms International Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
74
Positive
Cash Flow
38
Negative
| 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
Negative
4.00
Price Trends
3.12
Negative
3.39
Negative
2.90
Negative
Market Momentum
-0.14
Negative
38.33
Neutral
23.13
Neutral
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 2.78, above the 50-day MA of 3.12, and above the 200-day MA of 2.90, indicating a bearish trend. The MACD of -0.14 indicates Negative momentum. The RSI at 38.33 is Neutral, neither overbought nor oversold. The STOCH value of 23.13 is Neutral, 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 68 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 |
|---|---|---|---|---|---|---|---|
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
60 Neutral | $306.18M | 42.45 | 11.50% | ― | -12.68% | ― | |
53 Neutral | $340.41M | -19.99 | -127.44% | 0.55% | -5.52% | -2194.72% | |
49 Neutral | $241.18M | -6.84 | -12.83% | 1.99% | -14.97% | -278.36% | |
49 Neutral | $404.22M | 191.55 | -0.07% | 3.39% | -3.22% | -108.24% | |
47 Neutral | $38.53M | -3.81 | 66.22% | ― | 31.61% | 37.02% |
* Consumer Defensive Sector Average
VFF
Village Farms International
2.66
2.12
395.34%
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LOCL
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Village Farms International Corporate Events
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.