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Where Food Comes From Inc.

WFCF Industrials Specialty Business Services

Where Food Comes From Inc.’s revenue for fiscal 2025 (year ended December 2025) was $24.9 million, down 3.32% from fiscal 2024.

Revenue
+0.75%
EPS
−27.3%
Free cash flow
−18.9%
Total debt
−68.4%

Quarter to June 2026, against a year earlier

15.32 0.15 −0.97%
Market cap
$77.0M
P/E
54.7×
Fwd P/E
29.4×
Dividend yield
—
F-score
7/9
Altman Z
13.62
Beneish M
−2.69
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 53.57%

Capital & Financial Ratios $m

Size
Market Cap 77.03
Revenue ttm 25.03
Net income ttm 1.45
Free cash flow ttm 1.01
Net debt Q (3.41)
Valuation
P/E 54.71 (above 35: high)
Forward P/E 29.40
Price / sales 3.07
Forward P/S Powerpack
Price / FCF 91.52
Price / book 8.71 (above 6: high)
Financial health
Current ratio Q 1.67 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 298.00
Growth
Revenue growth Q +0.75% (above 0%: growing)
Operating income growth Q +21.13% (above 0%: growing)
EPS, this year —
EPS, next year A —
Revenue, next year A +12.70% (at or above 10%: strong)
EPS, past 5 yrs +6.40%
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.0×, against a ten-year median of 3.9×; over the ten years it ranged from 1.9× in 2025 to 22.4× in 2016.
P/E against its own 10 years 54.01%
10-year low 10-year high
P/S against its own 10 years 32.51%
10-year low 10-year high
P/B against its own 10 years 54.25%
10-year low 10-year high
EV/Sales against its own 10 years 33.36%
10-year low 10-year high
EV/FCF against its own 10 years 61.40%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 3 2 3 3
Receivables 2 2 2 3
Inventory 1 1 1 1
Other — — — —
6 6 6 7
2023 2024 2025 Q'26
Payables 1 0 0 1
ST’ Debt — — — —
Other — — — —
3 3 3 4

Compound Annual Growth %

10y 5y 3y
Sales 9.12% 4.39% 0.06%
Cash Flow 6.43% (8.10%) (15.40%)
Earnings 11.15% 2.09% (8.33%)
Book Value 3.29% (5.68%) (9.32%)

EPS $

Mar Jun Sep Dec Year
’26 0.02 0.08 — — —
’25 0.01 0.11 0.22 (0.04) 0.30
’24 0.03 0.09 0.09 0.18 0.40
’23 0.02 0.09 0.13 0.14 0.39
’22 0.08 0.04 0.13 0.08 0.33
’21 0.19 0.03 0.14 0.12 0.48
’20 (0.04) 0.06 0.12 0.09 0.22
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 5 7 — — —
’25 5 7 7 6 25
’24 6 6 7 7 26
’23 5 6 7 7 25
’22 6 5 7 6 25
’21 4 5 7 6 22
’20 4 4 6 6 20
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1 1 — — —
’25 1 1 1 (1) 2
’24 1 1 1 0 3
’23 0 1 1 0 3
’22 1 1 1 0 3
’21 1 0 1 0 3
’20 1 1 0 0 2
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 0 1 — — —
’25 1 1 0 (1) 1
’24 1 1 1 0 3
’23 0 1 1 0 3
’22 1 1 1 0 2
’21 1 0 1 0 3
’20 1 1 0 0 2
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 12 15 18 21 20 22 25 25 26 25 25 +8.8% — — — —
Gross margin, % 46.60 44.15 43.50 43.70 44.47 44.40 42.13 41.86 41.02 38.20 38.27 (8.4) pt
EBT 1 0 1 1 2 4 3 3 3 2 2 +14.9%
EBT margin, % 5.49 0.62 5.53 7.14 9.20 16.51 11.33 12.19 11.57 8.95 8.70 +3.5 pt
Net income 0 0 1 1 1 3 2 2 2 2 1 +16.1%
Per share, $
Per share, $ Revenue 1.95 2.50 2.87 3.34 3.26 3.60 4.17 4.58 4.84 4.83 4.99 +10.6%
Earnings 0.08 0.04 0.12 0.20 0.23 0.49 0.34 0.39 0.40 0.30 0.28 +15.8%
Cash flow 0.17 0.11 0.19 0.46 0.40 0.50 0.45 0.51 0.51 0.31 0.25 +7.3%
Capex (0.07) (0.01) (0.06) (0.06) (0.07) 0.00 (0.04) (0.03) (0.03) (0.03) (0.05) (9.4%)
Free cash flow 0.09 0.09 0.13 0.40 0.33 0.49 0.40 0.49 0.48 0.28 0.20 +13.1%
Book value 1.58 1.57 1.73 1.92 2.02 2.25 2.10 1.97 1.87 1.81 1.76 +1.5%
Shares, m 6 6 6 6 6 6 6 5 5 5 5 (1.6%)
Valuation, ×
Valuation, × P/E 531.56 0.00 258.86 131.55 61.46 29.61 41.36 35.79 33.95 38.83 54.71 116.3
P/S 16.41 19.17 11.10 8.23 4.30 4.03 3.27 2.97 2.73 2.38 3.07 7.5
P/B 20.21 30.62 18.36 14.31 6.92 6.44 6.51 6.89 7.09 6.36 8.71 12.4
EV/Sales 16.14 18.96 11.03 8.10 4.13 3.81 3.12 2.88 2.68 2.27 2.95 7.3
EV/FCF 384.88 576.05 271.73 68.94 42.39 28.30 32.22 28.85 28.65 43.95 88.01 150.6
Cash, $m
Cash, $m Operating cash flow 1 1 1 3 2 3 3 3 3 2 1 +5.6%
Capex 0 0 0 0 0 0 0 0 0 0 0 (10.8%)
Free cash flow 1 1 1 3 2 3 2 3 3 1 1 +11.3%
Balance, $m
Balance, $m Working capital 3 4 3 3 4 6 5 3 2 3 3 (0.8%)
Net debt (3) (3) (1) (3) (3) (5) (4) (3) (2) (3) (3) +0.5%
Shareholders’ equity 9 10 11 12 12 14 12 11 10 9 9 (0.1%)
Returns, %
Returns, % ROA 4.06 1.09 5.76 8.23 7.35 15.09 10.47 12.45 13.42 10.89 9.59 +6.8 pt
ROIC 6.21 0.80 5.76 10.41 11.52 17.23 20.35 20.51 17.36 12.32 17.07 +6.1 pt
ROE 5.36 1.49 7.84 11.84 11.35 22.59 15.21 18.48 20.43 15.97 15.41 +10.6 pt
People
People Employees 60 63 63 66 68 87 93 102 103 100 — +5.8%
Revenue/emp, $m 0.19 0.25 0.28 0.31 0.30 0.25 0.27 0.25 0.25 0.25 — +2.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Where Food Comes From Inc. vs peers in Specialty Business Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SPIR Spire Global, Inc. $313.2M — (loss-making) — (loss-making) −5.91% (below 0%: shrinking) n/m +25.49% (above 0%: growing) 34.12% (110.22%) Compare
TISI Team, Inc. $104.0M — (loss-making) 0.3× −7.80% (below 0%: shrinking) n/m +47.47% (above 0%: growing) 23.79% 0.95% Compare
WFCF Where Food Comes From Inc. $77.0M 54.7× 29.4× +0.75% (above 0%: growing) −27.27% (below 0%: shrinking) −18.92% (below 0%: shrinking) 40.58% 10.06%
DLHC DLH Holdings Corp. $52.6M — (loss-making) — (loss-making) −46.94% (below 0%: shrinking) n/m −55.09% (below 0%: shrinking) 16.75% (8.89%) Compare
YSXT YSX Tech Co., Ltd $40.2M — — — — −299.01% (below 0%: shrinking) — — Compare
NTIP Network-1 Technologies, Inc. $36.6M — (loss-making) — (loss-making) −72.07% (below 0%: shrinking) n/m −22.09% (below 0%: shrinking) 72.00% 0.00% Compare
PC Premium Catering (Holdings) Limited $19.5M — — — — −1,294.44% (below 0%: shrinking) — — Compare
SST System1, Inc. $18.6M — (loss-making) 23.1× −61.34% (below 0%: shrinking) n/m −127.61% (below 0%: shrinking) 80.38% (27.45%) Compare
ANPA Rich Sparkle Holdings Limited $17.5M — — — — — — — Compare
Median of peers $38.4M — — −46.94% — −55.09% 34.12% (8.89%)

All 45 Specialty Business Services stocks →

Pay and ownership Proxy statement filed 6 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 581.21k 580.55k (1.69)
2024 531.21k 530.55k 13.18
2023 529.95k 529.29k 15.71
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Where Food Comes From Inc. (WFCF) Latest News

5 Oct

Impact 4 · · GlobeNewswire

7 Aug

Impact 3 · · MarketBeat transcript
Impact 3 · · The Motley Fool transcript

6 Aug

Impact 3 ·

22 May

Impact 3 · · Zacks

21 May

Impact 4 · · GuruFocus.com

14 May

Impact 4 · · GlobeNewswire
Impact 3 · · Moby

12 May

Impact 3 · · GlobeNewswire

3 Mar

Impact 3 · · GuruFocus.com

27 Feb

Impact 3 · · MarketBeat
Impact 3 · · Zacks

26 Feb

Impact 4 · · GlobeNewswire
Impact 4 · · Moby

19 Feb

Impact 4 · · GlobeNewswireGrocery DiveJust FoodJust FoodSimply Wall St.MT Newswires

13 Feb

Impact 3 · · Zacks

9 Jan

Impact 4 · · ZacksJust FoodZacksZacksJust FoodMT NewswiresBloombergMT Newswires

6 Jan

Impact 4 · · GlobeNewswireSimply Wall St.Just FoodZacksZacksMT NewswiresMotley Fool
Impact 3 · · GlobeNewswire

3 Jan

Impact 4 · · Simply Wall St.

13 Dec

Impact 3 · · Simply Wall St.

3 Dec

Impact 4 · · GlobeNewswireMotley FoolZacksJust StyleSourcing JournalMT NewswiresSourcing JournalBloomberg

27 Nov

Impact 4 · · The Motley Fool transcript

19 Nov

Impact 3 · · Simply Wall St.
Impact 3 ·

18 Nov

Impact 4 ·

13 Nov

Impact 4 · · GlobeNewswire

11 Nov

Impact 4 ·

3 Nov

Impact 3 ·

22 Aug

Impact 4 ·
stockrow.com/WFCF · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com