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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. In the quarter to June 2026, revenue was flat, EPS fell 27.3%, free cash flow fell 18.9% and total debt fell 68.4%, each against the same quarter a year earlier.

13.90 0.16 −1.14%
Market cap
$70.0M
P/E
49.6×
Fwd P/E
29.4×
Dividend yield
—
F-score
7/9
Altman Z
13.62
Beneish M
−2.69
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 53.57%

Capital & Financial Ratios $m

Market Cap 70.01
Revenue 25.03
Net Income 1.45
Free Cash Flow 1.01
Net Debt (3.41)
Current Ratio 1.67 (at or above 1.5: strong)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 49.64 (above 35: high)
Fwd P/E 29.40
P/S ratio 2.79
P/B ratio 7.91 (above 6: high)
Past 5Y EPS Growth 6.40%
This Y EPS Growth —
Next Y EPS Growth —
Next Y revenue growth 12.70% (at or above 10%: strong)
Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.7×, against a ten-year median of 4.0×; over the ten years it ranged from 1.9× in 2025 to 22.4× in 2016.
P/E against its own 10 years 51.58%
10-year low 10-year high
P/S against its own 10 years 27.53%
10-year low 10-year high
P/B against its own 10 years 53.93%
10-year low 10-year high
EV/Sales against its own 10 years 28.68%
10-year low 10-year high
EV/FCF against its own 10 years 58.86%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2020 Powerpack
2019 Powerpack
2018 Powerpack
special payouts not included in total or ratios

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%)

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.

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.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 29.28 30.08 28.00 22.40 2.95 8.03 8.43 12.41 9.76 9.26

Analyst estimates 2026–2028

Powerpack
High 44.80 48.00 56.00 34.40 46.24 16.50 15.75 14.77 13.95 13.78
People
People Employees 60 63 63 66 68 87 93 102 103 100
Revenue/emp, $m 0.19 0.25 0.28 0.31 0.30 0.25 0.27 0.25 0.25 0.25
Income, $m
Income, $m Revenue 12 15 18 21 20 22 25 25 26 25
Gross margin, % 46.60 44.15 43.50 43.70 44.47 44.40 42.13 41.86 41.02 38.20
EBT 1 0 1 1 2 4 3 3 3 2
EBT margin, % 5.49 0.62 5.53 7.14 9.20 16.51 11.33 12.19 11.57 8.95
Net income 0 0 1 1 1 3 2 2 2 2
Depreciation 0 1 1 1 1 1 1 1 1 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
Earnings 0.08 0.04 0.12 0.20 0.23 0.49 0.34 0.39 0.40 0.30
Cash flow 0.17 0.11 0.19 0.46 0.40 0.50 0.45 0.51 0.51 0.31
Capex (0.07) (0.01) (0.06) (0.06) (0.07) 0.00 (0.04) (0.03) (0.03) (0.03)
Free cash flow 0.09 0.09 0.13 0.40 0.33 0.49 0.40 0.49 0.48 0.28
Book value 1.58 1.57 1.73 1.92 2.02 2.25 2.10 1.97 1.87 1.81
Shares, m 6 6 6 6 6 6 6 5 5 5
Valuation, ×
Valuation, × P/E 531.56 0.00 258.86 131.55 61.46 29.61 41.36 35.79 33.95 38.83
P/S 16.41 19.17 11.10 8.23 4.30 4.03 3.27 2.97 2.73 2.38
P/B 20.21 30.62 18.36 14.31 6.92 6.44 6.51 6.89 7.09 6.36
EV/Sales 16.14 18.96 11.03 8.10 4.13 3.81 3.12 2.88 2.68 2.27
EV/FCF 384.88 576.05 271.73 68.94 42.39 28.30 32.22 28.85 28.65 43.95
Cash, $m
Cash, $m Operating cash flow 1 1 1 3 2 3 3 3 3 2
Capex 0 0 0 0 0 0 0 0 0 0
Free cash flow 1 1 1 3 2 3 2 3 3 1
Balance, $m
Balance, $m Working capital 3 4 3 3 4 6 5 3 2 3
Total debt 0 0 0 0 1 0 0 0 0 0
Net debt (3) (3) (1) (3) (3) (5) (4) (3) (2) (3)
Shareholders’ equity 9 10 11 12 12 14 12 11 10 9
Returns, %
Returns, % ROA 4.06 1.09 5.76 8.23 7.35 15.09 10.47 12.45 13.42 10.89
ROIC 6.21 0.80 5.76 10.41 11.52 17.23 20.35 20.51 17.36 12.32
ROE 5.36 1.49 7.84 11.84 11.35 22.59 15.21 18.48 20.43 15.97
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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
TISI Team, Inc. $112.0M — (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. $70.0M 49.6× 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. $58.0M — (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 $45.0M — — — — −299.01% (below 0%: shrinking) — — Compare
NTIP Network-1 Technologies, Inc. $35.4M — (loss-making) — (loss-making) −72.07% (below 0%: shrinking) n/m −22.09% (below 0%: shrinking) 72.00% 0.00% Compare
ANPA Rich Sparkle Holdings Limited $29.1M — — — — — — — Compare
SST System1, Inc. $23.4M — (loss-making) 23.1× −61.34% (below 0%: shrinking) n/m −127.61% (below 0%: shrinking) 80.38% (27.45%) Compare
PMEC Primech Holdings Ltd. $19.6M — (loss-making) — +43.05% (above 0%: growing) −200.00% (below 0%: shrinking) +7.30% (above 0%: growing) 5.80% 0.00% Compare
PC Premium Catering (Holdings) Limited $19.5M — — — — −1,294.44% (below 0%: shrinking) — — Compare
Median of peers $32.3M — — −46.94% — −55.09% 23.79% 0.00%

All 44 Specialty Business Services stocks →

Where Food Comes From Inc. (WFCF) key facts

  • Concern: Where Food Comes From Inc.’s revenue for fiscal 2025 (year ended December 2025) was $24.9 million, down 3.32% from fiscal 2024.
  • Where Food Comes From Inc. (WFCF) is a Specialty Business Services company in the Industrials sector, listed on Nasdaq.
  • As of October 16, 2026, WFCF traded at $13.90, a market capitalization of $70.0 million.
  • Return on equity was 16.0% and debt-to-equity 0.00.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 13.62 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Where Food Comes From Inc. (WFCF) Latest News

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