Where Food Comes From Inc Financials
This page shows Where Food Comes From Inc (WFCF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Where Food Comes From Inc has an operating margin of 4.8%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 33/100, indicating healthy but not exceptional operating efficiency. This is down from 8.6% the prior year.
Where Food Comes From Inc's revenue declined 3.3% year-over-year, from $25.7M to $24.9M. This contraction results in a growth score of 28/100.
Where Food Comes From Inc carries a low D/E ratio of 0.39, meaning only $0.39 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.
Where Food Comes From Inc's current ratio of 2.03 indicates adequate short-term liquidity, earning a score of 37/100. The company can meet its near-term obligations, though with limited headroom.
Where Food Comes From Inc has a free cash flow margin of 5.8%, earning a moderate score of 40/100. The company generates positive cash flow after capital investments, but with room for improvement.
Where Food Comes From Inc's ROE of 16.5% shows moderate profitability relative to equity, earning a score of 48/100. This is down from 21.3% the prior year.
Where Food Comes From Inc scores 14.79, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($66.2M) relative to total liabilities ($3.6M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Where Food Comes From Inc passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Where Food Comes From Inc generates $1.05 in operating cash flow ($1.6M OCF vs $1.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Where Food Comes From Inc earns $402.0 in operating income for every $1 of interest expense ($1.2M vs $3K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Where Food Comes From Inc generated $24.9M in revenue in fiscal year 2025. This represents a decrease of 3.3% from the prior year.
Where Food Comes From Inc's EBITDA was $1.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 35.0% from the prior year.
Where Food Comes From Inc reported $1.5M in net income in fiscal year 2025. This represents a decrease of 27.5% from the prior year.
Where Food Comes From Inc earned $0.30 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 25.0% from the prior year.
Cash & Balance Sheet
Where Food Comes From Inc generated $1.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 43.5% from the prior year.
Where Food Comes From Inc held $3.2M in cash against $0 in long-term debt as of fiscal year 2025.
Where Food Comes From Inc had 5M shares outstanding in fiscal year 2025. This represents a decrease of 3.3% from the prior year.
Margins & Returns
Where Food Comes From Inc's gross margin was 38.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.8 percentage points from the prior year.
Where Food Comes From Inc's operating margin was 4.8% in fiscal year 2025, reflecting core business profitability. This is down 3.7 percentage points from the prior year.
Where Food Comes From Inc's net profit margin was 6.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.1 percentage points from the prior year.
Where Food Comes From Inc's ROE was 16.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.8 percentage points from the prior year.
Capital Allocation
Where Food Comes From Inc spent $2.2M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 3.4% from the prior year.
Where Food Comes From Inc invested $155K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 2.5% from the prior year.
WFCF Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.0M-13.9% | $7.0M+6.9% | $6.6M+24.4% | $5.3M-20.8% | $6.7M-6.3% | $7.1M+11.1% | $6.4M+14.6% | $5.6M |
| Cost of Revenue | $3.9M-10.5% | $4.3M+5.5% | $4.1M+33.3% | $3.1M-20.3% | $3.9M-10.9% | $4.3M+15.9% | $3.7M+14.9% | $3.3M |
| Gross Profit | $2.2M-19.3% | $2.7M+9.2% | $2.5M+12.1% | $2.2M-21.6% | $2.8M+1.0% | $2.8M+4.4% | $2.7M+14.1% | $2.3M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $2.2M+5.5% | $2.1M+10.5% | $1.9M-6.9% | $2.1M+0.3% | $2.0M-5.5% | $2.2M+4.4% | $2.1M+0.3% | $2.1M |
| Operating Income | -$60K-110.4% | $575K+4.7% | $549K+286.6% | $142K-81.2% | $755K+24.2% | $608K+4.3% | $583K+123.4% | $261K |
| Interest Expense | N/A | N/A | $1K0.0% | $1K0.0% | $1K0.0% | $1K0.0% | $1K0.0% | $1K |
| Income Tax | -$35K-107.3% | $480K+128.6% | $210K+452.6% | $38K-90.3% | $393K+117.1% | $181K-8.6% | $198K+127.6% | $87K |
| Net Income | -$203K-117.7% | $1.1M+103.9% | $562K+1712.9% | $31K-96.8% | $961K+95.3% | $492K+0.6% | $489K+174.7% | $178K |
| EPS (Diluted) | N/A | $0.22+100.0% | $0.11+1000.0% | $0.01 | N/A | $0.090.0% | $0.09+200.0% | $0.03 |
WFCF Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $12.9M-23.5% | $16.9M+1.4% | $16.6M+9.3% | $15.2M-0.6% | $15.3M-9.7% | $16.9M+1.0% | $16.8M+9.0% | $15.4M |
| Current Assets | $6.3M-26.4% | $8.5M+19.9% | $7.1M+24.2% | $5.7M+3.3% | $5.5M-25.0% | $7.4M+5.1% | $7.0M+29.0% | $5.5M |
| Cash & Equivalents | $3.2M-32.8% | $4.8M+48.7% | $3.2M+43.0% | $2.2M+11.2% | $2.0M-27.0% | $2.8M+6.0% | $2.6M+38.2% | $1.9M |
| Inventory | $792K-11.4% | $894K-19.6% | $1.1M+19.6% | $930K-7.2% | $1.0M-8.0% | $1.1M-6.4% | $1.2M+4.0% | $1.1M |
| Accounts Receivable | $1.7M-29.2% | $2.4M+15.0% | $2.1M+12.3% | $1.8M+0.5% | $1.8M-18.3% | $2.2M+0.6% | $2.2M+7.0% | $2.1M |
| Goodwill | $2.9M0.0% | $2.9M0.0% | $2.9M0.0% | $2.9M0.0% | $2.9M0.0% | $2.9M0.0% | $2.9M0.0% | $2.9M |
| Total Liabilities | $3.6M-45.2% | $6.6M-1.5% | $6.7M+18.4% | $5.6M+4.6% | $5.4M-28.3% | $7.5M+5.5% | $7.1M+22.0% | $5.8M |
| Current Liabilities | $3.1M-32.0% | $4.5M-0.2% | $4.5M+29.4% | $3.5M+10.6% | $3.2M-39.0% | $5.2M+10.2% | $4.7M+40.8% | $3.4M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $9.3M-9.7% | $10.3M+3.3% | $10.0M+4.0% | $9.6M-3.4% | $9.9M+5.1% | $9.5M-2.4% | $9.7M+1.1% | $9.6M |
| Retained Earnings | $11.1M-1.8% | $11.3M+10.9% | $10.2M-15.6% | $12.0M+0.3% | $12.0M+10.2% | $10.9M+4.7% | $10.4M+4.9% | $9.9M |
WFCF Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$707K-241.1% | $501K-57.6% | $1.2M+86.9% | $632K+1364.0% | -$50K-105.5% | $912K-21.9% | $1.2M+66.9% | $700K |
| Capital Expenditures | $34K-41.4% | $58K+70.6% | $34K+17.2% | $29K0.0% | $29K-25.6% | $39K-41.8% | $67K+179.2% | $24K |
| Free Cash Flow | -$741K-267.3% | $443K-61.4% | $1.1M+90.2% | $603K+863.3% | -$79K-109.0% | $873K-20.7% | $1.1M+62.9% | $676K |
| Investing Cash Flow | -$34K-101.9% | $1.8M+5332.4% | -$34K-17.2% | -$29K+27.5% | -$40K-42.9% | -$28K+58.2% | -$67K-179.2% | -$24K |
| Financing Cash Flow | -$818K-13.3% | -$722K-292.4% | -$184K+51.2% | -$377K+42.4% | -$655K+9.9% | -$727K-89.8% | -$383K+73.3% | -$1.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $814K+13.4% | $718K+186.1% | $251K-34.5% | $383K-41.2% | $651K-11.3% | $734K+88.7% | $389K-17.1% | $469K |
WFCF Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.9%-2.4pp | 38.3%+0.8pp | 37.5%-4.1pp | 41.6%-0.4pp | 42.0%+3.0pp | 39.0%-2.5pp | 41.6%-0.2pp | 41.7% |
| Operating Margin | -1.0%-9.2pp | 8.2%-0.2pp | 8.4%+5.7pp | 2.7%-8.6pp | 11.3%+2.8pp | 8.6%-0.6pp | 9.1%+4.4pp | 4.7% |
| Net Margin | -3.4%-19.7pp | 16.3%+7.8pp | 8.6%+8.0pp | 0.6%-13.8pp | 14.4%+7.5pp | 6.9%-0.7pp | 7.6%+4.5pp | 3.2% |
| Return on Equity | -2.2%-13.3pp | 11.1%+5.5pp | 5.6%+5.3pp | 0.3%-9.3pp | 9.7%+4.5pp | 5.2%+0.1pp | 5.1%+3.2pp | 1.9% |
| Return on Assets | -1.6%-8.4pp | 6.8%+3.4pp | 3.4%+3.2pp | 0.2%-6.1pp | 6.3%+3.4pp | 2.9%0.0pp | 2.9%+1.8pp | 1.2% |
| Current Ratio | 2.03+0.2 | 1.88+0.3 | 1.56-0.1 | 1.63-0.1 | 1.74+0.3 | 1.42-0.1 | 1.49-0.1 | 1.62 |
| Debt-to-Equity | 0.39-0.3 | 0.64-0.0 | 0.67+0.1 | 0.59+0.0 | 0.54-0.3 | 0.79+0.1 | 0.73+0.1 | 0.61 |
| FCF Margin | -12.3%-18.6pp | 6.3%-11.2pp | 17.5%+6.0pp | 11.4%+12.6pp | -1.2%-13.5pp | 12.3%-4.9pp | 17.2%+5.1pp | 12.1% |
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Frequently Asked Questions
What is Where Food Comes From Inc's annual revenue?
Where Food Comes From Inc (WFCF) reported $24.9M in total revenue for fiscal year 2025. This represents a -3.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Where Food Comes From Inc's revenue growing?
Where Food Comes From Inc (WFCF) revenue declined by 3.3% year-over-year, from $25.7M to $24.9M in fiscal year 2025.
Is Where Food Comes From Inc profitable?
Yes, Where Food Comes From Inc (WFCF) reported a net income of $1.5M in fiscal year 2025, with a net profit margin of 6.2%.
What is Where Food Comes From Inc's EBITDA?
Where Food Comes From Inc (WFCF) had EBITDA of $1.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Where Food Comes From Inc's gross margin?
Where Food Comes From Inc (WFCF) had a gross margin of 38.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Where Food Comes From Inc's operating margin?
Where Food Comes From Inc (WFCF) had an operating margin of 4.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Where Food Comes From Inc's net profit margin?
Where Food Comes From Inc (WFCF) had a net profit margin of 6.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Where Food Comes From Inc's return on equity (ROE)?
Where Food Comes From Inc (WFCF) has a return on equity of 16.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Where Food Comes From Inc's free cash flow?
Where Food Comes From Inc (WFCF) generated $1.5M in free cash flow during fiscal year 2025. This represents a -43.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Where Food Comes From Inc's operating cash flow?
Where Food Comes From Inc (WFCF) generated $1.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Where Food Comes From Inc's total assets?
Where Food Comes From Inc (WFCF) had $12.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Where Food Comes From Inc's capital expenditures?
Where Food Comes From Inc (WFCF) invested $155K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Where Food Comes From Inc's current ratio?
Where Food Comes From Inc (WFCF) had a current ratio of 2.03 as of fiscal year 2025, which is generally considered healthy.
What is Where Food Comes From Inc's debt-to-equity ratio?
Where Food Comes From Inc (WFCF) had a debt-to-equity ratio of 0.39 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Where Food Comes From Inc's return on assets (ROA)?
Where Food Comes From Inc (WFCF) had a return on assets of 11.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Where Food Comes From Inc's Altman Z-Score?
Where Food Comes From Inc (WFCF) has an Altman Z-Score of 14.79, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Where Food Comes From Inc's Piotroski F-Score?
Where Food Comes From Inc (WFCF) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Where Food Comes From Inc's earnings high quality?
Where Food Comes From Inc (WFCF) has an earnings quality ratio of 1.05x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Where Food Comes From Inc cover its interest payments?
Where Food Comes From Inc (WFCF) has an interest coverage ratio of 402.0x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Where Food Comes From Inc?
Where Food Comes From Inc (WFCF) scores 47 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.