Limoneira Co
LMNR Consumer Defensive Farm Products
Limoneira Co’s revenue for fiscal 2025 (year ended October 2025) was $159.7 million, down 16.6% from fiscal 2024. In the quarter to July 2026, revenue fell 7.73%, EPS fell 183.3%, free cash flow grew 34.6% and total debt rose 60.2%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.
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Limoneira Co (LMNR) Piotroski F-score
Limoneira Co's Piotroski F-score for fiscal 2025 is 2 out of 9: 2 of nine tests of profitability, leverage and efficiency passed, down from 5 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 2 | (3.00) |
| FY2024 | 5 | 1.00 |
| FY2023 | 4 | (3.00) |
| FY2022 | 7 | 1.00 |
| FY2021 | 6 | 4.00 |
| FY2020 | 2 | (1.00) |
| FY2019 | 3 | (2.00) |
| FY2018 | 5 | 0.00 |
| FY2017 | 5 | (3.00) |
| FY2016 | 8 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (5.40%) | 2.40% | Fail | 0 |
| Positive operating cash flow | (6.01m) | 17.85m | Fail | 0 |
| Rising return on assets | (5.40%) | 2.40% | Fail | 0 |
| Cash flow above net income | 10.47m | 10.64m | Pass | 1 |
| Falling long-term leverage | 0.24 | 0.13 | Fail | 0 |
| Rising current ratio | 1.35 | 0.74 | Pass | 1 |
| No new shares issued | 17,834,000 | 17,715,000 | Fail | 0 |
| Rising gross margin | 0.27% | 11.19% | Fail | 0 |
| Rising asset turnover | 0.52 | 0.64 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 2 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| VFF Village Farms International, Inc. compare | 8 |
| PME Pingtan Marine Enterprise Ltd. compare | 6 |
| DOLE Dole PLC compare | 6 |
| ALCO Alico, Inc. compare | 4 |
| AFRI Forafric Global PLC compare | 4 |
| VITL Vital Farms, Inc. compare | 3 |
| LND Brasilagro Cia Brasileira De Propriedades Agricolas compare | 3 |
| LMNR Limoneira Co | 2 |
| PFAI Pinnacle Food Group Limited compare | 1 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover