Village Farms International, Inc.
VFF Consumer Defensive Farm Products
In the quarter to June 2026, revenue grew 6.81%, EPS fell 75.0%, free cash flow fell 88.0% and total debt rose 15.1%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years; insiders bought in the last twelve months.
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Village Farms International, Inc. (VFF) Altman Z-score
Village Farms International, Inc.'s Altman Z-score for fiscal 2025 is 2.64, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 2.64 | 2.24 |
| FY2024 | 0.39 | (0.29) |
| FY2023 | 0.68 | (0.01) |
| FY2022 | 0.69 | (2.03) |
| FY2021 | 2.72 | (0.26) |
| FY2020 | 2.98 | (0.93) |
| FY2019 | 3.91 | 0.96 |
| FY2018 | 2.96 | (1.05) |
| FY2017 | 4.00 | 2.04 |
| FY2016 | 1.97 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.23 | — | 0.27 | |
| Retained earnings / total assets | (0.27) | — | −0.37 | |
| EBIT / total assets | 0.06 | — | 0.21 | |
| Market value of equity / total liabilities | 3.36 | — | 2.01 | |
| Sales / total assets | 0.51 | — | 0.51 | |
| Altman Z-score | Grey zone | 2.64 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 3.61 | ||
Z and Z″ put Village Farms International, Inc. in different zones: grey zone by Z, safe zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| VITL Vital Farms, Inc. compare | 7.9× |
| DMC Del Monte Corporation compare | 3.5× |
| DOLE Dole PLC compare | 2.8× |
| VFF Village Farms International, Inc. | 2.6× |
| LMNR Limoneira Co compare | 1.6× |
| LND Brasilagro Cia Brasileira De Propriedades Agricolas compare | 1.1× |
| AGRO Adecoagro S.A. compare | 0.7× |
| AFRI Forafric Global PLC compare | −0.1× |
| ALCO Alico, Inc. compare | −0.4× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets