GuruFocus Manual of Stocks™  |  Jul 06, 2025
Where Food Comes From Inc (NAS:WFCF)
www.gurufocus.com/stock/NAS:WFCF/summary
Where Food Comes From Inc (NAS:WFCF)
[1]
Modestly Undervalued[5]$ 11.18
GF Score: 78/100Market Cap: $ 58 Mil
Industry: Industrials - Business Services
IPO Date: 1999-02-11
Where Food Comes From Inc is a third-party food verification company. It offers food production audits and uses verification processes to ensure that claims made by food producers and processors are accurate. The company supports farmers, ranchers, vineyards, wineries, processors, retailers, distributors, trade associations, and restaurants with a wide variety of value-added services pro... read more
Latest FY Operating Revenue by Business Segment
Business Segment Name2024Percentage
Verification and certification service revenue24.3694.60%
Professional services1.395.40%
Financial Strength
Rank: 9 /10CurrentIndustry MedianHistorical Median
Cash-to-Debt0.911.121.57
Equity-to-Asset0.630.520.66
Interest Coverage522.0014.065350.42
Piotroski F-Score856
Profitability Rank
Rank: 9 /10CurrentIndustry MedianHistorical Median
Operating Margin %8.215.968.03
Net Margin %7.763.876.69
ROE %20.457.48511.60
ROA %12.3937.79
ROC (Joel Greenblatt) %86.4119.4161.69
Growth Rank(* per share data)
Rank: 4 /1010-Yr5-Yr1-Yr
Revenue Growth %12.39.14.6
EBITDA Growth %22.810.3-3.2
Oprt. Income Growth %27.313.7-22.2
EPS w/o NRI Growth %23.99.1-21.5
FCF Growth %22.95.9-9.3
Book Value Growth %6.7-0.63.7
Momentum Rank
Rank: 2 /10CurrentIndustry MedianHistorical Median
5-Day RSI56.9253.73N/A
9-Day RSI59.8152.77N/A
14-Day RSI58.4551.88N/A
6-1M Momentum %-22.52-1.71N/A
12-1M Momentum %2.50-2.30N/A
Quarterly
Mar24Jun24Sep24Dec24Mar25
Revenue5.586.407.116.665.27
Net Income0.180.490.490.960.03
EPS0.030.090.090.180.01
Revenue YoY %5.984.391.37-1.03-5.54
Net Income YoY %47.11-8.08-31.9523.84-82.58
EPS YoY %50.00---30.7728.57-66.67
Warning Signs
SEVEREGross Margin %: Declined
Good Signs
GOODFinancial Strength: Strong Financial Strength
GOODAltman Z-Score: Strong
GOODPiotroski F-Score: High
GOODBeneish M-Score: Unlikely manipulator
Insider Trades
InsiderPositionDateTradesCur. Shares
Saunders LeannCOO, 10% Owner05/19/2517501.74M
Saunders John KCEO, 10% Owner05/19/2517501.74M
Henning DannetteCFO05/13/25175051,875
Lapaseotes PeteDirector07/29/244750183,965
GF Value Rank
Rank: 8 /10CurrentIndustry MedianHistorical Median
PE Ratio30.2218.6946.26
Forward P/EN/A14.42N/A
PB Ratio6.081.846.16
PS Ratio2.311.1653.26
P/FCF23.9913.97542.32
Shiller P/E40.3221.2577.78
PEG Ratio3.901.391.66
Valuation Analysis
Current% of Price
NCAV0.020
Tangible Book0.958
Peter Lynch Value1.9918
Graham Number2.4422
EPV6.1555
DCF (Earnings Based)8.6978
Price11.18
GF Value14.08126
DCF (FCF Based)14.56130
Median PS Value16.07144
Dividend & Ownership
Dividend Yield (TTM) %N/A
Dividend Yield (Forward) %N/A
Dividend Payout RatioN/A
Dividend Growth (5Y) %N/A
Yield on Cost (5Y) %N/A
Continuous Div. sinceN/A
Insider Ownership %85.39
Institution Ownership %11.70
As of 07-06-2025
* All financial numbers are in millions except for per share data, ratios and percentage change. "Neg. E" means negative equity.
20152016201720182019202020212022202320242025Performance
%GainSP500
1W-1.412.20
1M9.075.22
3M-1.5816.86
6M-15.506.27
YTD-15.567.34
1Y11.8014.81
3Y1.1919.56
5Y9.4116.53
10Y0.7113.58
16.05
5.31
5.44
23882
11941
2015201620172018201920202021202220232024CurrentKey Data
14.7211.0012.0013.808.4014.2516.0515.6814.7713.9013.50Highest Stock Price
7.207.567.527.085.605.449.998.6512.839.889.26Lowest Stock Price
5750735043868881756958Market Cap
6.06.06.26.26.36.26.26.05.55.35.2Shares Outstanding-Diluted
120.00101.00296.0066.3331.2763.6430.2342.3334.7533.1030.22PE Ratio
8.465.287.554.613.596.876.416.466.896.996.08PB Ratio
5.544.174.762.792.074.344.093.392.992.742.31PS Ratio
50.5851.5973.3525.0716.9330.0619.4422.1720.1819.2716.95EV-to-EBITDA
2015201620172018201920202021202220232024TTMPer Share Data
1.731.942.492.853.323.233.554.124.534.834.83Revenue per Share
0.080.080.040.120.220.220.480.330.390.400.37Earnings per Share
0.140.090.090.130.400.320.450.400.480.480.47Free Cash Flow per Share
----------------------Dividends per Share
0.630.420.500.610.931.081.361.241.030.990.95Tangible Book per Share
4.785.3510.7712.3614.4414.0816.0317.7218.0016.3316.07Median PS Value
1.061.060.671.222.182.203.122.952.842.592.44Graham Number
2015201620172018201920202021202220232024TTMIncome Statement
10.4011.6215.4517.8020.7720.0821.9324.8525.1425.7525.44Revenue
4.865.416.827.749.088.939.7410.4710.5210.5610.43Gross Profit
46.7146.6044.1543.5043.7044.4744.4042.1341.8641.0241.00Gross Margin %
4.064.786.746.877.537.247.437.827.838.368.34Total Operating Expense
0.800.630.080.881.551.692.302.652.702.212.09Operating Income
7.655.460.534.917.478.4010.5010.6710.738.578.21Operating Margin %
0.530.430.140.801.351.392.961.992.152.121.97Net Income
5.143.730.924.506.476.9013.508.038.568.237.76Net Margin %
0.800.640.100.991.491.863.632.823.072.982.79EBIT
1.050.910.951.932.592.864.433.583.703.633.45EBITDA
8.255.361.497.8411.8411.3522.5915.2118.4820.4320.45ROE %
6.514.051.085.768.237.3515.0910.4712.4513.4212.39ROA %
2015201620172018201920202021202220232024Mar25Balance Sheet
3.783.223.451.732.904.375.414.372.642.012.24Cash & Equivalents & MS
5.054.775.594.375.867.478.687.896.215.555.73Total Current Assets
8.4812.8813.3414.4618.2419.4519.7818.3016.2915.3115.21Total Assets
0.010.000.020.020.250.740.330.350.310.350.35Short-Term Debt & CLO
0.801.341.881.702.743.123.003.042.983.183.52Total Current Liabilities
0.010.170.220.433.553.863.042.782.492.192.11Long-Term Debt & CLO
1.743.453.673.706.296.986.045.825.475.375.62Total Liabilities
6.739.439.6710.7711.9512.4613.7512.4810.829.939.59Total Stockholders Equity
6.739.439.6710.7711.9512.4613.7512.4810.829.939.59Total Equity
2015201620172018201920202021202220232024TTMCashflow Statement
0.860.990.661.152.882.453.022.652.822.732.66Cash Flow from Operations
-0.03-1.72-0.24-1.98-1.12-0.73-0.00-0.27-0.65-0.16-0.16Cash Flow from Investing
0.11-0.31-0.20-0.40-0.600.01-1.98-3.43-3.90-3.20-2.14Cash Flow from Financing
0.95-1.040.22-1.221.161.741.04-1.05-1.73-0.630.36Net Change in Cash
3.532.492.711.482.644.375.414.372.642.012.24Ending Cash Position
-0.03-0.45-0.08-0.37-0.37-0.46-0.21-0.27-0.15-0.16-0.16Capital Expenditure
0.840.540.570.792.511.992.812.392.672.572.50Free Cash Flow
Competitor(* Up to 5 competitors are listed here. See full competitors list in the Competitive Comparison section below)
TickerCompanyMarket Cap
($M)
PE RatioGF Score
/100
Financial
Strength /10
Profitability
Rank /10
GF Value
Rank /10
Growth
Rank /10
Momentum
Rank /10
NAS:WFCFWhere Food Comes From Inc5830.227899842
OTCPK:CAHOCaro Holdings Inc52At Loss3131003
NYSE:SSTSystem1 Inc48At Loss4424202
OTCPK:WBQNLWoodbridge Liquidation Trust37N/A4090008
OTCPK:SFRXSeafarer Exploration Corp34N/A000000
GuruFocus Manual of Stocks™  |  Jul 06, 2025
Where Food Comes From Inc (NAS:WFCF)
www.gurufocus.com/stock/NAS:WFCF/summary

Financial Strength[2] (Quarterly data, as of Mar. 2025) : Good (9/10)

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9

Cash-to-Debt : 0.91

Cash-to-Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. A high ratio indicates that a company is better able to pay back its debt, and is thus able to take on more debt if necessary.


Equity-to-Asset : 0.63

Equity-to-Asset ratio is calculated as total stockholders equity divided by its total assets. Equity-to-Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity-to-Asset ratio (more leveraged) may have higher ROE % because of the leverage.


Debt-to-Equity : 0.26

A high Debt-to-Equity ratio generally means that a company has been aggressive in financing its growth with debt.


Piotroski F-Score : 8

The Piotroski F-Score is used to determine the strength of a firm's financial position, with 9 being the best and 0 being the worst.

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9


WACC : 6.40% vs ROIC : 12.16%

The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. Return on invested capital (ROIC) measures how well a company generates cash flow relative to the capital it has invested in its business.


Dividend Yield : 0.00%

Dividend yield is a way to measure how much cash flow you are getting for each dollar invested in an equity position.

GuruFocus Manual of Stocks™  |  Jul 06, 2025
Where Food Comes From Inc (NAS:WFCF)
www.gurufocus.com/stock/NAS:WFCF/summary

Profitability[3] (Annual data, as of Dec. 2024) : Good (9/10)

0
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8
9

Revenue : $5 Mil vs Net Income : $0 Mil

Revenue is the amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. Net Income is a company's total profit. Net income is calculated by taking revenues and adjusting for the cost of doing business, depreciation, interest, taxes and other expenses.


Cash & Equivalents : $2 Mil vs Long-Term Debt* : $2 Mil

Cash & equivalents are the most liquid assets on the balance sheet. Cash equivalents are assets that are readily convertible into cash. Long-Term Debt* consists of loans and obligations lasting over one year.


Operating Margin % : 2.69%

Operating margin % measures how much profit a company makes on a dollar of sales. Operating Margin % is calculated as Operating Income divided by Revenue.


EPS without NRI : $0.02

Earnings Per Share without Non-Recurring Items is the amount of earnings without non-recurring items per outstanding share of the company's stock. In calculating earnings per share without non-recurring items, the dividends of preferred stocks and Non Operating Income need to subtracted from the total net income first.


Dividends per Share : $0.00

Dividends per Share is the amount of dividends that the shareholders of a company receive on a per-share basis. It is calculated using the total dividends paid out to shareholders over one fiscal year and the number of shares outstanding.


Free Cash Flow per Share : $0.12

Free Cash flow per Share is the amount of Free cash flow per outstanding share of the company's stock.

GuruFocus Manual of Stocks™  |  Jul 06, 2025
Where Food Comes From Inc (NAS:WFCF)
www.gurufocus.com/stock/NAS:WFCF/summary

Valuation (Quarterly data, as of Mar. 2025)

These valuation metrics should give you a sense of reasonable prices, but be careful with them. Always seek to understand why a valuation is changing over time.


Valuation Chart (Current stock price : $11.18)


PE Ratio without NRI : 39.82

The price-to-earnings ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than regular PE Ratio.


PB Ratio : 6.02

The price-to-book ratio measures the valuation of the stock relative to the underlying asset of the company.


PS Ratio : 2.29

The price-to-sales ratio is a valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the value placed on each dollar of a company’s sales or revenues.


Price-to-Free-Cash-Flow : 23.76

Price-to-free-cash-flow is very similar to the valuation metric of price-to-operating-cash-flow but is considered a more exact measure, owing to the fact that it uses free cash flow, which subtracts capital expenditures from a company's total operating cash flow, thereby reflecting the actual cash flow available to fund non-asset-related growth.


EV-to-EBIT : 20.78

Enterprise value of a company divided by its trailing 12 months earnings before interest and taxes (EBIT).

GuruFocus Manual of Stocks™  |  Jul 06, 2025
Where Food Comes From Inc (NAS:WFCF)
www.gurufocus.com/stock/NAS:WFCF/summary

Valuation Bands

In these charts the 10-year valuation bands of the price-to-earnings ratio (PE Ratio), price-to-book ratio (PB Ratio), price-to-sales ratio (PS Ratio) and price-to-operating-cash-flow ratio (POCF) are drawn together with the historical stock prices. For example, the upper line of the PE band is where the stock price would have been if it were always traded at the maximum PE ratio of the past 10 years. The lower line of the PE band is where the stock price would have been if it were always traded at the lowest PE ratio of the past 10 years. It is always better if the stock price is close to the lower line, which indicates a lower valuation.


Historical Price and PE Band


Historical Price and PS Band


Historical Price and PB Band


Historical Price and Price-to-Operating-Cash-Flow (POCF) Band

GuruFocus Manual of Stocks™  |  Jul 06, 2025
Where Food Comes From Inc (NAS:WFCF)
www.gurufocus.com/stock/NAS:WFCF/summary

Warning Signs

GuruFocus conducted a thorough checkup using a checklist of 32 items that cover the areas of financial strength, profitability, growth, and valuation of each company. The purpose of Warning Signs is to warn you that the company may have red flags in certain areas, helping to avoid overlooking them. These warning signs do not necessarily mean you should not invest in the stock. But you should be aware of them before you invest.


Severe Warning Signs

Gross Margin % : Declined

Where Food Comes From Inc gross margin has been in long-term decline. The average rate of decline per year is -1.6%.

Good Signs

Financial Strength : Strong Financial Strength

Where Food Comes From Inc shows strong financial strength.

Altman Z-Score : Strong

Altman Z-score of 9.78 is strong.

Piotroski F-Score : High

Piotroski F-Score is 8, indicates a very healthy situation.
GuruFocus Manual of Stocks™  |  Jul 06, 2025
Where Food Comes From Inc (NAS:WFCF)
www.gurufocus.com/stock/NAS:WFCF/summary

Competitive Comparison


5 Year Price Change Comparison



Financial Strength

CompanyFinancial StrengthCash-to-DebtEquity-to-AssetDebt-to-EquityInterest CoveragePiotroski F-ScoreAltman Z-ScoreBeneish M-ScoreWACC %ROIC %
AMEX:NTIPNetwork-1 Technologies Inc10/105599.000.970.00No Debt414.92-5.154.70-42.90
NAS:CPRTCopart Inc9/1043.380.910.01N/A535.70-2.8010.5628.82
TSE:7386Japan Warranty Support Co Ltd9/10No Debt0.260.00No Debt8677718.55-2.627.506.03
NAS:WFCFWhere Food Comes From Inc9/100.910.630.26522.0089.78-3.016.4012.16
OTCPK:WBQNLWoodbridge Liquidation Trust9/10No Debt0.680.00No DebtN/A0.000.002.060.00
OTCPK:WHLMWilhelmina International Inc8/104.160.610.1278.007-0.57-2.607.012.36
NAS:CTASCintas Corp7/100.090.480.5922.84814.29-2.639.5423.36
NAS:NISNNiSun International Enterprise Development Group Co Ltd7/107.360.760.03N/A32.73-0.949.691.02
NAS:SGRPSPAR Group Inc7/100.960.430.780.0024.47-3.286.69-1.92
TSE:4304Estore Corp6/104.740.450.2915.636701411.80-3.037.506.22
TSX:TRIThomson Reuters Corp6/100.460.670.259.7979.78-2.466.9011.45
ASX:BXBBrambles Ltd5/100.040.380.8510.7554.38-3.197.599.64
NAS:DLHCDLH Holdings Corp5/100.000.371.441.5681.80-2.709.056.31
TSX:RBARB Global Inc5/100.140.490.743.5172.56-2.766.085.69
LSE:RELRELX PLC5/100.020.231.8810.0384.71-2.636.9013.61
XAMS:WKLWolters Kluwer NV5/100.240.162.6327.9473.61-2.746.4112.08
OTCPK:CAHOCaro Holdings Inc3/100.02-1.68-1.360.00417.4319.276.05-23.29
NYSE:TISITeam Inc3/100.04-0.05-15.350.2250.86-2.8111.323.10
NYSE:SSTSystem1 Inc2/100.160.164.020.004-2.30-3.3511.61-19.86
OTCPK:SFRXSeafarer Exploration Corp0/100.01-11.00-0.810.003-221.020.0012.31-113.25
GuruFocus Manual of Stocks™  |  Jul 06, 2025
Where Food Comes From Inc (NAS:WFCF)
www.gurufocus.com/stock/NAS:WFCF/summary

Competitive Comparison - Cont.


Profitability

CompanyProfitability RankOperating
Margin %
Net Margin %ROE %ROA %Price-to-Free-Cash-FlowROC (Joel Greenblatt) %3-Year Revenue Growth %3-Year EBITDA Growth %3-Year EPS w/o NRI Growth %
NAS:CTASCintas Corp10/1022.7717.5341.4419.2549.4168.4712.0013.9014.00
NAS:CPRTCopart Inc10/1035.8032.2118.6416.7440.7947.7915.8011.3014.80
TSX:RBARB Global Inc10/1017.789.707.463.5428.4828.4426.5039.2026.00
NAS:DLHCDLH Holdings Corp9/106.071.444.941.704.28221.6414.9015.60-14.30
LSE:RELRELX PLC9/1029.8720.5057.1512.9634.441470.4710.4011.4012.10
NAS:WFCFWhere Food Comes From Inc9/108.217.7620.4512.3923.9986.4110.80-1.60-1.90
XAMS:WKLWolters Kluwer NV9/1024.5618.2466.9911.7724.61482.3510.8014.7013.70
ASX:BXBBrambles Ltd8/1016.4912.6026.609.7726.7119.6115.3017.5021.20
TSE:4304Estore Corp8/106.654.2214.884.020.00148.1523.10-6.806566.30
NAS:NISNNiSun International Enterprise Development Group Co Ltd8/102.571.702.852.030.007.524.10-48.50-56.30
TSX:TRIThomson Reuters Corp8/1026.3429.7018.4811.7647.56538.6310.4021.0027.50
TSE:7386Japan Warranty Support Co Ltd6/1041.7532.2211.552.7314558775.532041.7210.4013.2014.60
AMEX:NTIPNetwork-1 Technologies Inc5/10-1339.20-990.80-5.43-5.300.00-7933.65-86.000.000.00
NAS:SGRPSPAR Group Inc5/10-0.22-1.60-10.93-4.050.002.83-11.60-30.800.00
OTCPK:WHLMWilhelmina International Inc5/104.323.762.701.649.5333.823.00-42.00-40.20
NYSE:SSTSystem1 Inc4/10-22.77-23.99-83.54-16.740.00-930.61-16.30-36.700.00
NYSE:TISITeam Inc3/101.24-5.97-579.32-9.500.00-0.10-9.100.0040.70
OTCPK:CAHOCaro Holdings Inc1/10-865.52-1644.830.00-100.680.000.000.00-20.50-35.70
OTCPK:SFRXSeafarer Exploration Corp0/10-20700.00-23685.710.00-585.040.00-1200.970.000.000.00
OTCPK:WBQNLWoodbridge Liquidation Trust0/100.000.000.000.000.000.000.000.000.00

Valuation

CompanyPE RatioPB RatioPS RatioPrice-to-Intrinsic-Value-Projected-FCFPrice-to-Intrinsic-Value-DCF (Earnings Based)Price-to-Median-PS-ValuePrice-to-Peter-Lynch-Fair-ValuePrice-to-Graham-NumberEarnings Yield (Joel Greenblatt) %Forward Rate of Return (Yacktman) %
OTCPK:CAHOCaro Holdings IncAt Loss0.001395.000.000.000.000.000.00-0.480.00
AMEX:NTIPNetwork-1 Technologies IncAt Loss0.67113.640.560.0025.000.000.0031.5553.54
NAS:SGRPSPAR Group IncAt Loss0.910.110.550.000.880.000.003.31-0.16
NYSE:SSTSystem1 IncAt Loss0.670.130.000.000.000.000.00-26.670.00
NYSE:TISITeam IncAt Loss0.000.100.000.000.300.000.00-0.0512.13
NAS:NISNNiSun International Enterprise Development Group Co Ltd2.780.090.050.150.000.000.230.12-40.82-6.08
NAS:DLHCDLH Holdings Corp15.500.750.230.191.340.421.240.008.6142.78
TSE:4304Estore Corp21.641347607.26411155.15534865.310.00453275.690.000.000.005.81
OTCPK:WHLMWilhelmina International Inc23.460.610.870.490.001.660.001.3320.28-7.77
ASX:BXBBrambles Ltd25.356.443.190.000.000.000.002.795.5915.61
NAS:WFCFWhere Food Comes From Inc30.226.082.311.671.290.705.624.594.7610.94
XAMS:WKLWolters Kluwer NV30.6621.035.582.251.291.362.540.004.2014.16
NAS:CPRTCopart Inc32.455.4310.502.691.041.152.162.903.7916.76
LSE:RELRELX PLC37.8220.787.763.392.721.535.290.003.659.45
TSX:TRIThomson Reuters Corp40.666.9412.053.500.001.835.190.002.4911.81
TSX:RBARB Global Inc50.593.514.422.021.261.141.310.003.3522.23
NAS:CTASCintas Corp50.8019.288.894.111.802.123.6614.712.5515.40
OTCPK:SFRXSeafarer Exploration CorpN/A0.000.000.000.000.000.000.00-8.200.00
OTCPK:WBQNLWoodbridge Liquidation TrustN/A0.000.000.000.000.000.000.000.000.00
TSE:7386Japan Warranty Support Co Ltd29339960.533298298.849448196.160.000.000.000.002176400.100.000.00
GuruFocus Manual of Stocks™  |  Jul 06, 2025
Where Food Comes From Inc (NAS:WFCF)
www.gurufocus.com/stock/NAS:WFCF/summary

Peter Lynch Chart[4]

GuruFocus Manual of Stocks™  |  Jul 06, 2025
Where Food Comes From Inc (NAS:WFCF)
www.gurufocus.com/stock/NAS:WFCF/summary

Per Share Data


Per Share Data

Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Dec24
TTM Fiscal Period
0.51
0.63
0.81
0.97
1.06
1.50
1.73
1.94
2.49
2.85
3.32
3.23
3.55
4.12
4.53
4.83
4.83
Revenue per Share
-0.01
0.09
0.14
0.11
0.03
0.10
0.18
0.15
0.15
0.31
0.41
0.46
0.72
0.59
0.67
0.68
0.66
EBITDA per Share
-0.02
0.07
0.13
0.09
0.01
0.06
0.13
0.11
0.02
0.16
0.24
0.30
0.59
0.47
0.55
0.56
0.53
EBIT per Share
-0.04
0.08
0.16
0.16
-0.01
0.04
0.08
0.08
0.04
0.12
0.22
0.22
0.48
0.33
0.39
0.40
0.37
Earnings per Share (Diluted)
-0.04
0.08
0.16
0.16
-0.01
0.04
0.08
0.12
0.04
0.11
0.23
0.20
0.32
0.31
0.35
0.30
0.28
EPS without NRI
-0.04
0.07
0.15
0.15
-0.02
0.03
0.08
0.11
0.10
0.12
0.42
0.32
0.59
0.36
0.47
0.54
0.51
Owner Earnings per Share (TTM)
-0.00
0.07
0.14
0.05
0.03
0.08
0.14
0.09
0.09
0.13
0.40
0.32
0.45
0.40
0.48
0.48
0.47
Free Cash Flow per Share
0.02
0.08
0.14
0.06
0.04
0.10
0.14
0.17
0.11
0.19
0.46
0.39
0.49
0.44
0.51
0.51
0.50
Operating Cash Flow per Share
0.04
0.10
0.24
0.26
0.19
0.44
0.64
0.52
0.56
0.28
0.46
0.72
0.89
0.76
0.48
0.38
0.43
Cash per Share
0.01
0.07
0.23
0.43
0.66
1.05
1.14
1.53
1.57
1.73
1.91
2.04
2.27
2.16
1.97
1.90
1.84
Book Value per Share
0.01
0.07
0.23
0.27
0.14
0.51
0.63
0.42
0.50
0.61
0.93
1.08
1.36
1.24
1.03
0.99
0.95
Tangible Book per Share
0.07
0.07
0.09
0.08
0.04
0.01
0.00
0.03
0.04
0.07
0.61
0.75
0.55
0.54
0.51
0.49
0.47
Total Debt per Share
0.72
0.64
1.24
4.20
8.00
11.60
9.60
8.08
11.84
7.96
6.88
14.00
14.51
13.97
13.55
13.24
11.18
Month End Stock Price
5.22
5.22
5.25
5.42
5.47
5.85
5.99
5.99
6.21
6.25
6.26
6.22
6.19
6.04
5.55
5.33
5.23
Shares Outstanding (Diluted Average)

Ratios

Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Dec24
TTM Fiscal Period
-149
168
114
50.49
-1.12
4.59
8.25
5.36
1.49
7.84
11.84
11.35
22.59
15.21
18.48
20.43
20.45
ROE %
-1.45
17.83
20.86
5.15
-0.09
0.41
0.98
1.02
0.20
1.70
3.30
1.65
3.52
2.35
2.68
2.92
3.36
ROE % Adjusted to Book Value
-22.52
43.21
63.86
33.65
-0.74
3.33
6.51
4.05
1.08
5.76
8.23
7.35
15.09
10.47
12.45
13.42
12.39
ROA %
-151
175
116
66.92
-3.07
12.05
15.86
13.81
5.03
23.31
28.12
22.40
39.92
25.88
33.57
39.08
41.62
Return-on-Tangible-Equity
-22.55
43.68
64.43
40.23
-1.27
6.05
10.47
7.55
2.22
11.25
13.76
10.80
21.26
14.63
17.85
19.55
17.90
Return-on-Tangible-Asset
-46.83
202
258
121
4.70
42.91
105
61.47
6.96
49.62
37.69
34.93
71.92
61.91
73.23
79.56
86.41
ROC (Joel Greenblatt) %
-27.25
66.73
58.93
22.26
0.70
5.58
10.69
6.65
0.84
8.17
10.57
11.69
21.90
17.59
21.49
23.46
23.36
ROCE %
-6.55
-82.91
-800
31.51
30.08
-17.00
-8.71
-13.93
15.91
36.99
16.06
20.75
41.79
11.84
12.70
8.83
-4.83
5-Year RORE %
298
-3,685
318
-2.88
-33.58
39.68
-41.50
-1.92
-677
27.67
24.04
114
-76.66
-22.26
-36.00
142
146
1-Year ROIIC %
-46.94
192
337
82.99
0.52
4.33
10.95
6.12
-1.66
5.79
8.40
9.17
13.87
14.53
15.11
12.68
12.16
ROIC %
9.09
11.35
15.18
12.94
8.71
12.65
16.90
15.21
13.16
9.95
6.88
6.38
4.58
8.29
5.76
6.89
6.40
WACC %
10.76
9.30
7.57
5.87
10.63
8.30
7.02
2.00
0.98
1.47
0.47
0.31
0.15
0.09
0.17
0.15
0.15
Effective Interest Rate on Debt %
50.58
54.96
55.47
53.79
46.67
42.93
46.71
46.60
44.15
43.50
43.70
44.47
44.40
42.13
41.86
41.02
41.00
Gross Margin %
-4.47
10.96
15.99
9.28
0.47
3.94
7.65
5.46
0.53
4.91
7.47
8.40
10.50
10.67
10.73
8.57
8.21
Operating Margin %
-5.75
10.02
20.41
16.54
-0.59
2.61
5.14
3.73
0.92
4.50
6.47
6.90
13.50
8.03
8.56
8.23
7.76
Net Margin %
-2.29
13.53
17.60
11.44
2.55
6.55
10.12
7.80
6.16
10.85
12.47
14.23
20.18
14.43
14.74
14.10
13.57
EBITDA Margin %
-0.34
10.84
16.75
4.96
3.14
5.13
8.04
4.65
3.71
4.42
12.06
9.90
12.80
9.61
10.64
9.99
9.82
FCF Margin %
9.71
0.97
0.39
0.19
0.06
0.01
0.00
0.02
0.02
0.04
0.32
0.37
0.25
0.25
0.26
0.26
0.26
Debt-to-Equity
0.06
0.39
0.64
0.68
0.65
0.78
0.79
0.73
0.73
0.74
0.66
0.64
0.70
0.68
0.66
0.65
0.63
Equity-to-Asset
0.60
0.38
0.25
0.13
0.04
0.00
0.00
0.01
0.02
0.03
0.21
0.24
0.17
0.17
0.17
0.17
0.16
Debt-to-Asset
0.94
0.61
0.36
0.24
0.30
0.22
0.21
0.27
0.28
0.26
0.35
0.36
0.31
0.32
0.34
0.35
0.37
Liabilities-to-Assets
198
237
174
109
58.97
54.75
59.17
50.69
52.03
55.70
55.53
47.38
49.64
54.98
60.85
66.87
65.47
Gross-Profit-to-Asset %
2.02
0.49
0.58
-0.41
1.11
-0.41
2.54
0.12
0.78
0.51
0.13
1.21
1.15
1.42
1.70
-0.93
0.48
Degree of Financial Leverage
3.92
4.32
3.13
2.04
1.26
1.28
1.27
1.09
1.18
1.28
1.27
1.07
1.12
1.31
1.45
1.63
1.60
Asset Turnover
45.54
23.79
19.36
20.95
33.40
34.65
36.69
38.57
38.32
42.07
41.47
45.66
38.99
31.95
31.22
28.03
29.25
Days Sales Outstanding
52.74
41.20
30.98
21.25
24.38
24.77
26.98
22.13
16.73
17.98
24.30
27.37
16.40
13.80
15.07
12.44
15.85
Days Payable
3.89
--
--
--
--
--
--
--
--
--
--
--
22.96
21.01
24.94
25.37
25.80
Days Inventory
-3.31
-17.41
-11.62
-0.30
9.02
9.88
9.71
16.44
21.59
24.09
17.17
18.29
45.55
39.16
41.09
40.96
39.20
Cash Conversion Cycle
8.02
15.34
18.86
17.42
10.93
10.53
9.95
9.46
9.52
8.68
8.80
7.99
9.36
11.42
11.69
13.02
12.48
Receivables Turnover
93.93
--
--
--
--
--
--
--
--
--
--
--
15.90
17.37
14.63
14.39
14.15
Inventory Turnover
0.49
0.45
0.45
0.46
0.53
0.57
0.53
0.53
0.56
0.57
0.56
0.56
0.56
0.58
0.58
0.59
0.59
COGS-to-Revenue
0.01
--
--
--
--
--
--
--
--
--
--
--
0.04
0.03
0.04
0.04
0.04
Inventory-to-Revenue
0.04
0.02
0.00
0.01
0.01
0.02
0.00
0.04
0.01
0.02
0.02
0.02
0.01
0.01
0.01
0.01
0.01
Capex-to-Revenue
--
0.21
0.02
0.15
1.30
0.41
0.03
0.70
1.02
0.42
0.24
0.28
0.09
0.10
0.06
0.07
0.08
Capex-to-Operating-Income
1.09
0.18
0.02
0.22
0.16
0.24
0.03
0.45
0.13
0.32
0.13
0.19
0.07
0.10
0.05
0.06
0.06
Capex-to-Operating-Cash-Flow
* All financial numbers are in millions except for per share data, ratios and percentage change. When Return-on-Tangible-Equity displays Neg. E, it means the the tangible equity is negative. When ROE % or ROE % Adjusted to Book Value displays Neg. E, it means the the total shareholders equity is negative.
GuruFocus Manual of Stocks™  |  Jul 06, 2025
Where Food Comes From Inc (NAS:WFCF)
www.gurufocus.com/stock/NAS:WFCF/summary

Financial Statement

Income Statement

Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Dec24
TTM Fiscal Period
2.66
3.28
4.23
5.26
5.80
8.77
10.40
11.62
15.45
17.80
20.77
20.08
21.93
24.85
25.14
25.75
25.44
Revenue
1.32
1.48
1.89
2.43
3.09
5.00
5.54
6.20
8.63
10.06
11.70
11.15
12.20
14.38
14.61
15.18
15.01
Cost of Goods Sold
1.35
1.80
2.35
2.83
2.71
3.76
4.86
5.41
6.82
7.74
9.08
8.93
9.74
10.47
10.52
10.56
10.43
Gross Profit
50.58
54.96
55.47
53.79
46.67
42.93
46.71
46.60
44.15
43.50
43.70
44.47
44.40
42.13
41.86
41.02
41.00
Gross Margin %
1.47
1.44
1.67
2.34
2.68
3.42
4.06
4.78
6.74
6.87
7.53
7.24
7.43
7.82
7.83
8.36
8.34
Selling, General, & Admin. Expense
-0.00
0.00
-0.00
--
--
-0.00
0.00
0.00
--
--
0.00
0.00
--
--
--
--
0.00
Other Operating Expense
1.47
1.44
1.67
2.34
2.68
3.42
4.06
4.78
6.74
6.87
7.53
7.24
7.43
7.82
7.83
8.36
8.34
Total Operating Expense
-0.12
0.36
0.68
0.49
0.03
0.35
0.80
0.63
0.08
0.88
1.55
1.69
2.30
2.65
2.70
2.21
2.09
Operating Income
-4.47
10.96
15.99
9.28
0.47
3.94
7.65
5.46
0.53
4.91
7.47
8.40
10.50
10.67
10.73
8.57
8.21
Operating Margin %
--
--
--
--
--
--
--
--
--
--
--
--
--
--
0.05
0.04
0.00
  Interest Income
-0.04
-0.03
-0.03
-0.03
-0.03
-0.01
-0.00
-0.00
-0.00
-0.01
-0.01
-0.01
-0.01
-0.00
-0.01
-0.00
-0.00
  Interest Expense
-0.04
-0.03
-0.03
-0.03
-0.03
-0.01
-0.00
-0.00
-0.00
-0.01
-0.01
-0.01
-0.01
-0.00
0.05
0.03
0.04
Net Interest Income
0.00
0.00
-0.01
0.02
0.00
0.00
0.00
0.01
0.02
0.11
-0.06
0.17
1.32
0.17
0.32
0.74
0.66
Other Income (Expense)
-0.15
0.33
0.64
0.48
-0.01
0.34
0.79
0.64
0.10
0.98
1.48
1.85
3.62
2.82
3.07
2.98
2.78
Pre-Tax Income
--
--
0.22
0.39
0.00
-0.14
-0.30
-0.24
-0.27
-0.31
-0.46
-0.46
-0.66
-0.82
-0.91
-0.86
-0.81
Tax Provision
--
--
-35.00
-81.12
40.00
41.72
37.53
37.05
280
31.40
31.02
25.01
18.20
29.19
29.79
28.84
29.11
Tax Rate %
--
--
--
--
-0.00
-0.00
--
--
--
--
-0.00
--
-0.00
0.00
--
--
-0.00
Other Net Income (Loss)
-0.15
0.33
0.86
0.87
-0.00
0.20
0.50
0.40
-0.17
0.68
1.02
1.39
2.96
1.99
2.15
2.12
1.97
Net Income Including Noncontrolling Interests
-0.15
0.33
0.86
0.87
-0.00
0.20
0.50
0.40
-0.17
0.68
1.02
1.39
2.96
1.99
2.15
2.12
1.97
  Net Income (Continuing Operations)
--
--
--
-0.00
-0.03
0.03
0.04
0.03
0.31
0.13
0.32
--
--
--
--
--
-- Other Income (Minority Interest)
-0.15
0.33
0.86
0.87
-0.03
0.23
0.53
0.43
0.14
0.80
1.35
1.39
2.96
1.99
2.15
2.12
1.97
Net Income
-5.75
10.02
20.41
16.54
-0.59
2.61
5.14
3.73
0.92
4.50
6.47
6.90
13.50
8.03
8.56
8.23
7.76
Net Margin %
-0.04
0.08
0.16
0.16
-0.01
0.04
0.08
0.08
0.04
0.12
0.22
0.23
0.49
0.34
0.39
0.40
0.37
EPS (Basic)
-0.04
0.08
0.16
0.16
-0.01
0.04
0.08
0.08
0.04
0.12
0.22
0.22
0.48
0.33
0.39
0.40
0.37
EPS (Diluted)
5.22
5.22
5.25
5.42
5.47
5.85
5.99
5.99
6.21
6.25
6.26
6.22
6.19
6.04
5.55
5.33
5.23
Shares Outstanding (Diluted Average)
-0.12
0.36
0.67
0.51
0.03
0.35
0.80
0.64
0.10
0.99
1.49
1.86
3.63
2.82
3.07
2.98
2.79
EBIT
0.06
0.08
0.08
0.09
0.12
0.23
0.26
0.27
0.85
0.94
1.10
1.00
0.80
0.77
0.63
0.65
0.67
Depreciation, Depletion and Amortization
-0.06
0.44
0.75
0.60
0.15
0.57
1.05
0.91
0.95
1.93
2.59
2.86
4.43
3.58
3.70
3.63
3.45
EBITDA
-2.29
13.53
17.60
11.44
2.55
6.55
10.12
7.80
6.16
10.85
12.47
14.23
20.18
14.43
14.74
14.10
13.57
EBITDA Margin %
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Jul 06, 2025
Where Food Comes From Inc (NAS:WFCF)
www.gurufocus.com/stock/NAS:WFCF/summary

Financial Statement

Cashflow Statement

Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Dec24
TTM Fiscal Period
-0.15
0.33
0.86
0.87
-0.00
0.20
0.50
0.40
-0.17
0.68
1.02
1.39
2.96
1.99
2.15
2.12
1.97
Net Income From Continuing Operations
0.06
0.08
0.08
0.09
0.12
0.23
0.26
0.27
0.85
0.94
1.10
1.00
0.80
0.77
0.63
0.65
0.67
Depreciation, Depletion and Amortization
0.03
-0.02
-0.02
-0.11
-0.16
-0.30
-0.24
0.05
-0.57
-0.34
-0.34
-0.05
0.33
-0.02
--
0.25
0.18
  Change In Receivables
0.01
--
--
--
--
--
--
--
--
--
--
--
-0.77
-0.12
-0.22
0.11
0.19
  Change In Inventory
-0.03
0.03
-0.00
-0.02
-0.06
-0.03
0.01
-0.05
-0.04
-0.19
-0.01
-0.14
0.27
-0.14
0.16
-0.36
-0.34
  Change In Prepaid Assets
-0.06
-0.01
-0.02
-0.03
0.15
0.16
0.05
0.16
0.20
-0.03
0.67
-0.45
-0.09
0.25
-0.23
-0.10
-0.14
  Change In Payables And Accrued Expense
--
0.00
-0.00
-0.10
0.01
0.03
-0.13
-0.23
0.32
-0.16
0.15
0.58
0.39
-0.25
0.18
0.24
0.26
  Change In Other Working Capital
-0.05
0.01
-0.03
-0.26
-0.06
-0.14
-0.31
-0.07
-0.10
-0.72
0.48
-0.06
0.12
-0.28
-0.11
0.14
0.15
Change In Working Capital
--
--
-0.22
-0.39
-0.00
0.14
0.30
0.17
-0.13
-0.10
-0.10
-0.07
-0.02
-0.06
0.03
0.09
0.06
Deferred Tax
0.03
0.01
0.01
0.03
0.07
0.09
0.12
0.12
0.17
0.16
0.16
0.12
0.29
0.15
0.08
0.03
-- Stock Based Compensation
--
--
0.01
0.01
0.00
0.01
0.01
0.01
0.02
0.09
0.23
0.05
--
0.09
0.04
-0.30
-0.29
Asset Impairment Charge
0.22
0.00
0.01
-0.01
0.09
0.08
0.00
0.09
0.01
0.10
-0.01
0.02
-1.13
-0.01
-0.01
-0.00
0.10
Cash Flow from Others
0.10
0.43
0.72
0.34
0.22
0.59
0.86
0.99
0.66
1.15
2.88
2.45
3.02
2.65
2.82
2.73
2.66
Cash Flow from Operations
-0.11
-0.06
-0.01
-0.07
-0.04
-0.08
-0.03
-0.45
-0.08
-0.37
-0.37
-0.46
-0.21
-0.09
-0.15
-0.16
-0.16
Purchase Of Property, Plant, Equipment
0.00
--
--
0.01
--
--
--
0.01
--
--
--
--
--
--
--
--
-- Sale Of Property, Plant, Equipment
--
--
--
-0.22
-0.57
-0.35
--
-1.29
-0.15
-0.95
-1.00
-0.30
--
--
-0.50
--
-- Purchase Of Business
--
--
-0.43
--
--
--
--
--
--
-0.90
--
--
--
--
--
--
-- Purchase Of Investment
--
--
0.13
0.30
--
--
--
--
--
0.25
0.25
--
--
--
--
--
-- Sale Of Investment
--
-0.02
--
--
--
-0.07
--
--
--
--
--
--
--
-0.18
--
--
-- Net Intangibles Purchase And Sale
0.00
0.00
-0.00
-0.01
--
--
--
-0.00
-0.01
-0.01
0.00
0.03
0.21
-0.00
--
--
-- Cash From Other Investing Activities
-0.11
-0.08
-0.32
0.01
-0.60
-0.49
-0.03
-1.72
-0.24
-1.98
-1.12
-0.73
-0.00
-0.27
-0.65
-0.16
-0.16
Cash Flow from Investing
--
--
--
--
--
1.80
--
--
--
--
--
--
--
--
--
--
-- Issuance of Stock
-0.00
-0.03
-0.06
-0.01
-0.03
--
-0.18
-0.35
-0.20
-0.39
-0.56
-1.04
-1.11
-3.46
-3.96
-3.27
-2.16
Repurchase of Stock
0.09
0.03
0.40
0.04
--
--
--
--
--
--
--
1.05
--
--
--
--
--   Issuance of Debt
-0.02
-0.06
-0.29
-0.08
-0.03
-0.17
-0.01
-0.03
-0.01
-0.02
-0.05
-0.01
-0.01
-0.01
-0.01
-0.01
-0.02
  Payments of Debt
0.07
-0.03
0.11
-0.05
-0.03
-0.17
-0.01
-0.03
-0.01
-0.02
-0.05
1.05
-0.01
-0.01
-0.01
-0.01
-0.02
Net Issuance of Debt
--
--
--
--
--
--
--
--
--
--
--
--
-0.91
--
--
--
-- Cash Flow for Dividends
--
--
0.00
0.15
0.11
-0.22
0.30
0.07
0.01
--
--
0.01
0.05
0.04
0.07
0.08
0.03
Other Financing
0.07
-0.06
0.05
0.09
0.05
1.41
0.11
-0.31
-0.20
-0.40
-0.60
0.01
-1.98
-3.43
-3.90
-3.20
-2.14
Cash Flow from Financing
0.15
0.21
0.51
0.97
1.40
1.07
2.58
3.53
2.49
2.71
1.48
2.64
4.37
5.41
4.37
2.64
1.88
Beginning Cash Position
0.06
0.30
0.46
0.43
-0.34
1.52
0.95
-1.04
0.22
-1.22
1.16
1.74
1.04
-1.05
-1.73
-0.63
0.36
Net Change in Cash
0.21
0.51
0.97
1.40
1.07
2.58
3.53
2.49
2.71
1.48
2.64
4.37
5.41
4.37
2.64
2.01
2.24
Ending Cash Position
-0.11
-0.08
-0.01
-0.07
-0.04
-0.14
-0.03
-0.45
-0.08
-0.37
-0.37
-0.46
-0.21
-0.27
-0.15
-0.16
-0.16
Capital Expenditure
-0.01
0.36
0.71
0.26
0.18
0.45
0.84
0.54
0.57
0.79
2.51
1.99
2.81
2.39
2.67
2.57
2.50
Free Cash Flow
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Jul 06, 2025
Where Food Comes From Inc (NAS:WFCF)
www.gurufocus.com/stock/NAS:WFCF/summary

Financial Satement

Balance Sheet

Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Dec24
TTM Fiscal Period
0.21
0.51
0.97
1.40
1.07
2.58
3.53
2.49
2.71
1.48
2.64
4.37
5.41
4.37
2.64
2.01
2.24
  Cash And Cash Equivalents
--
--
0.28
--
--
--
0.25
0.73
0.74
0.25
0.26
--
--
--
--
--
--   Marketable Securities
0.21
0.51
1.25
1.40
1.07
2.58
3.78
3.22
3.45
1.73
2.90
4.37
5.41
4.37
2.64
2.01
2.24
Cash, Cash Equivalents, Marketable Securities
0.21
0.22
0.23
0.38
0.68
0.98
1.11
1.35
1.90
2.21
2.52
2.51
2.18
2.17
2.13
1.83
1.84
  Accounts Receivable
0.21
0.22
0.23
0.38
0.68
0.98
1.11
1.35
1.90
2.21
2.52
2.51
2.18
2.17
2.13
1.83
1.84
Total Receivables
--
--
--
--
--
--
--
--
--
--
--
--
0.77
0.89
1.11
1.00
0.93
  Inventories, Other
--
--
--
--
--
--
--
--
--
--
--
--
0.77
0.89
1.11
1.00
0.93
Total Inventories
0.07
0.04
0.26
0.32
0.33
0.38
0.16
0.20
0.25
0.44
0.45
0.59
0.32
0.46
0.34
0.71
0.72
Other Current Assets
0.49
0.77
1.74
2.10
2.09
3.94
5.05
4.77
5.59
4.37
5.86
7.47
8.68
7.89
6.21
5.55
5.73
Total Current Assets
--
--
--
--
--
--
--
--
--
1.24
0.99
0.99
0.99
0.99
1.19
1.19
1.19
Investments And Advances
--
--
--
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
--
--
--
--
--   Land And Improvements
--
--
--
0.05
0.05
0.05
0.05
0.48
0.48
0.98
0.99
0.95
0.81
0.81
0.81
0.81
--   Buildings And Improvements
0.13
0.28
0.29
0.59
0.73
0.75
0.75
1.42
1.57
2.03
2.29
2.70
2.77
2.65
2.18
2.10
--   Machinery, Furniture, Equipment
0.13
--
--
0.00
--
--
--
0.00
-0.00
--
3.27
3.03
2.82
2.61
2.30
2.07
2.69
  Other Gross PPE
0.26
0.28
0.29
0.65
0.78
0.80
0.80
1.90
2.05
3.02
6.55
6.69
6.41
6.06
5.29
4.98
2.69
Gross Property, Plant and Equipment
-0.13
-0.17
-0.23
-0.50
-0.53
-0.57
-0.64
-0.67
-0.98
-1.34
-1.74
-2.04
-2.29
-2.51
-2.20
-2.18
--   Accumulated Depreciation
0.13
0.12
0.06
0.15
0.25
0.23
0.16
1.23
1.07
1.68
4.81
4.65
4.12
3.55
3.09
2.80
2.69
Property, Plant and Equipment
0.00
0.02
0.01
0.84
3.00
3.18
3.03
6.87
6.59
6.98
6.17
5.87
5.50
5.32
5.16
4.74
4.64
Intangible Assets
--
--
--
0.53
1.28
1.28
1.28
2.65
2.65
3.14
2.95
2.95
2.95
2.95
2.95
2.95
2.95
  Goodwill
-0.00
-0.00
0.00
0.28
0.48
0.58
0.25
0.01
0.09
0.20
0.40
0.46
0.49
0.55
0.63
1.03
0.97
Other Long Term Assets
0.13
0.13
0.07
1.26
3.73
3.99
3.43
8.11
7.75
10.09
12.38
11.97
11.10
10.41
10.07
9.76
9.49
Total Long-Term Assets
0.62
0.90
1.81
3.36
5.81
7.93
8.48
12.88
13.34
14.46
18.24
19.45
19.78
18.30
16.29
15.31
15.21
Total Assets
0.16
0.17
0.15
0.14
0.28
0.40
0.42
0.33
0.46
0.53
1.02
0.65
0.45
0.64
0.57
0.47
0.55
  Accounts Payable
--
--
--
--
--
--
--
0.09
0.26
0.02
0.17
0.17
0.19
0.01
0.06
0.03
0.03
  Total Tax Payable
--
--
--
--
--
--
--
-0.00
--
--
--
-0.00
--
--
--
-0.00
-0.00
  Other Current Payables
0.05
0.03
0.04
0.06
0.06
0.07
0.09
0.37
0.23
0.40
0.44
0.40
0.45
0.72
0.51
0.53
0.67
  Current Accrued Expense
0.21
0.21
0.19
0.19
0.33
0.47
0.51
0.79
0.94
0.95
1.64
1.22
1.08
1.37
1.14
1.02
1.24
Accounts Payable & Accrued Expense
0.01
0.01
0.03
0.02
0.03
0.01
0.01
--
0.01
0.01
--
0.46
--
--
--
--
--   Short-Term Debt
--
--
--
0.01
0.00
0.00
0.01
0.00
0.01
0.01
0.25
0.28
0.33
0.35
0.31
0.35
0.35
  Short-Term Capital Lease Obligation
0.01
0.01
0.03
0.03
0.03
0.01
0.01
0.00
0.02
0.02
0.25
0.74
0.33
0.35
0.31
0.35
0.35
Short-Term Debt & Capital Lease Obligation
--
--
--
0.17
0.19
0.25
0.27
0.52
0.85
0.73
0.86
1.16
1.59
1.31
1.53
1.81
1.92
  Current Deferred Revenue
--
--
--
0.17
0.19
0.25
0.27
0.55
0.92
0.73
0.86
1.16
1.59
1.31
1.53
1.81
1.92
DeferredTaxAndRevenue
0.00
--
--
--
-0.00
-0.00
0.00
-0.00
0.00
0.00
--
--
--
--
--
-0.00
0.00
Other Current Liabilities
0.22
0.22
0.22
0.39
0.55
0.73
0.80
1.34
1.88
1.70
2.74
3.12
3.00
3.04
2.98
3.18
3.52
Total Current Liabilities
0.36
0.33
0.43
0.39
0.17
0.02
0.01
--
0.04
0.03
--
0.57
--
--
--
--
--   Long-Term Debt
--
--
--
0.02
0.01
0.01
0.00
0.17
0.17
0.40
3.55
3.29
3.04
2.78
2.49
2.19
2.11
  Long-Term Capital Lease Obligation
0.36
0.33
0.43
0.41
0.18
0.02
0.01
0.17
0.22
0.43
3.55
3.86
3.04
2.78
2.49
2.19
2.11
Long-Term Debt & Capital Lease Obligation
9.71
0.97
0.39
0.19
0.06
0.01
0.00
0.02
0.02
0.04
0.32
0.37
0.25
0.25
0.26
0.26
0.26
Debt-to-Equity
--
--
--
--
--
--
--
0.05
--
0.12
--
--
--
--
--
--
-- NonCurrent Deferred Liabilities
--
0.00
0.00
--
1.02
0.97
0.94
1.89
1.57
1.45
--
--
--
--
-0.00
0.00
0.00
Other Long-Term Liabilities
0.36
0.33
0.43
0.41
1.20
1.00
0.95
2.11
1.79
2.00
3.55
3.86
3.04
2.78
2.49
2.19
2.11
Total Long-Term Liabilities
0.58
0.55
0.64
0.80
1.75
1.72
1.74
3.45
3.67
3.70
6.29
6.98
6.04
5.82
5.47
5.37
5.62
Total Liabilities
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.03
0.03
0.03
0.01
0.01
0.01
0.01
0.01
0.01
0.01
Common Stock
-3.35
-3.02
-2.16
-1.29
-1.32
-1.09
-0.56
-0.13
0.02
0.82
2.16
3.55
5.60
7.59
9.74
12.01
12.04
Retained Earnings
--
--
-0.01
--
--
--
--
--
--
--
--
--
--
--
--
--
-- Accumulated other comprehensive income (loss)
3.39
3.40
3.42
3.67
5.22
7.43
7.45
10.05
10.35
11.03
11.45
11.61
11.96
12.15
12.29
11.38
11.39
Additional Paid-In Capital
-0.02
-0.05
-0.11
-0.12
-0.15
-0.15
-0.18
-0.53
-0.73
-1.11
-1.67
-2.70
-3.81
-7.26
-11.22
-13.46
-13.85
Treasury Stock
0.00
0.00
0.00
0.00
0.00
-0.00
-0.00
--
0.00
0.00
-0.00
--
--
-0.00
0.00
--
-- Other Stockholders Equity
0.04
0.35
1.16
2.28
3.77
6.21
6.73
9.43
9.67
10.77
11.95
12.46
13.75
12.48
10.82
9.93
9.59
Total Stockholders Equity
--
--
--
0.29
0.30
--
--
--
--
--
--
--
--
--
--
--
-- Minority Interest
0.04
0.35
1.16
2.57
4.07
6.21
6.73
9.43
9.67
10.77
11.95
12.46
13.75
12.48
10.82
9.93
9.59
Total Equity
0.06
0.39
0.64
0.68
0.65
0.78
0.79
0.73
0.73
0.74
0.66
0.64
0.70
0.68
0.66
0.65
0.63
Equity-to-Asset
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Jul 06, 2025
Where Food Comes From Inc (NAS:WFCF)
www.gurufocus.com/stock/NAS:WFCF/summary

Valuation Ratios

Valuation Ratios

Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Dec24
TTM Fiscal Period
At Loss
8.00
7.75
26.25
At Loss
290
120
101
296
66.33
31.27
63.64
30.23
42.33
34.75
33.10
30.22
PE Ratio
At Loss
8.00
7.65
26.58
At Loss
290
120
67.33
296
73.03
30.18
70.35
45.48
44.92
38.83
43.99
40.22
PE Ratio without NRI
--
9.28
8.21
28.97
--
414
119
71.50
115
66.89
16.58
43.89
24.68
38.38
28.83
24.34
22.14
Price-to-Owner-Earnings
103
9.41
5.46
9.81
12.05
11.08
8.46
5.28
7.55
4.61
3.59
6.87
6.41
6.46
6.89
6.99
6.08
PB Ratio
103
9.85
5.51
15.50
58.82
22.70
15.36
19.42
23.68
13.11
7.44
13.00
10.68
11.27
13.18
13.37
11.76
Price-to-Tangible-Book
--
9.41
9.19
87.50
242
151
69.06
89.78
129
63.17
17.16
43.75
31.96
35.28
28.11
27.47
23.99
Price-to-Free-Cash-Flow
36.00
7.71
9.05
67.74
200
115
66.67
48.97
112
43.03
14.99
35.53
29.73
31.75
26.62
25.86
22.45
Price-to-Operating-Cash-Flow
1.41
1.02
1.54
4.33
7.55
7.74
5.54
4.17
4.76
2.79
2.07
4.34
4.09
3.39
2.99
2.74
2.31
PS Ratio
--
--
--
--
--
--
--
--
--
--
1.01
2.36
1.05
1.33
2.15
5.15
3.90
PEG Ratio
1.47
0.96
1.32
4.13
7.73
7.56
5.12
4.02
4.52
2.72
2.11
4.28
3.92
3.20
2.97
2.72
2.30
EV-to-Revenue
-64.06
7.12
7.48
36.06
303
115
50.58
51.59
73.35
25.07
16.93
30.06
19.44
22.17
20.18
19.27
16.95
EV-to-EBITDA
-33.12
8.74
8.31
42.73
1,545
190
66.84
73.15
719
48.94
29.37
46.17
23.73
28.18
24.34
23.45
20.99
EV-to-EBIT
-434
8.88
7.86
83.18
246
147
63.65
86.56
122
61.51
17.50
43.20
30.65
33.28
27.95
27.20
23.42
EV-to-FCF
-3.02
11.44
12.03
2.34
0.06
0.53
1.50
1.37
0.14
2.04
3.40
2.17
4.21
3.55
4.11
4.26
4.76
Earnings Yield (Joel Greenblatt) %
-14.44
-11.25
-1.29
0.57
0.40
--
--
--
--
--
22.39
21.28
21.78
22.10
20.85
11.68
10.94
Forward Rate of Return (Yacktman) %
--
--
--
--
--
--
--
225
164
97.80
62.73
117
89.92
75.93
58.92
48.35
40.32
Shiller PE Ratio
0.18
0.19
0.49
2.58
10.27
49.79
30.02
17.75
19.01
9.95
6.90
11.65
9.72
7.91
6.94
6.37
5.28
Cyclically Adjusted PB Ratio
0.09
0.11
0.30
1.96
5.94
15.83
10.73
7.56
9.26
5.22
3.75
6.64
5.76
4.70
4.00
3.51
2.88
Cyclically Adjusted PS Ratio
3.99
--
--
--
--
--
--
221
186
89.71
51.97
88.23
74.16
57.88
46.35
39.13
32.37
Cyclically Adjusted Price-to-FCF
-0.24
10.67
11.13
1.17
0.40
0.65
1.47
1.08
0.79
1.58
5.83
2.32
3.19
2.96
3.59
3.70
4.29
FCF Yield %

Valuation and Quality

Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Dec24
TTM Fiscal Period
3.75
3.33
6.37
22.39
45.38
68.79
56.97
49.79
72.97
49.69
42.96
85.65
88.09
80.68
74.57
69.40
58.27
Market Cap
3.91
3.15
5.57
21.71
44.81
66.24
53.21
46.74
69.75
48.41
43.86
85.88
86.04
79.44
74.73
69.94
58.50
Enterprise Value
0.72
0.64
1.24
4.20
8.00
11.60
9.60
8.08
11.84
7.96
6.88
14.00
14.51
13.97
13.55
13.24
11.18
Month End Stock Price
-0.07
-0.01
0.12
0.06
-0.17
0.15
0.34
-0.04
-0.04
-0.32
-0.54
-0.43
-0.10
-0.25
-0.51
-0.64
-0.65
Net Cash per Share
-0.02
0.04
0.21
0.19
0.01
0.37
0.56
0.21
0.31
0.11
-0.07
0.08
0.44
0.36
0.14
0.03
0.02
Net Current Asset Value
-0.04
0.03
0.15
0.11
-0.08
0.27
0.48
0.13
0.20
-0.05
-0.24
-0.12
0.23
0.11
-0.12
-0.28
-0.30
Net-Net Working Capital
-1.30
-0.52
-0.38
0.23
0.89
1.64
2.00
2.46
2.36
2.63
3.72
4.19
4.64
5.18
5.93
6.68
6.69
Intrinsic Value: Projected FCF
0.78
0.98
1.26
1.55
2.08
3.81
4.78
5.35
10.77
12.36
14.44
14.08
16.03
17.72
18.00
16.33
16.07
Median PS Value
--
--
--
--
--
--
--
--
--
--
4.63
5.23
7.03
7.78
6.10
2.45
1.99
Peter Lynch Fair Value
--
0.34
0.91
0.98
--
0.68
1.06
1.06
0.67
1.22
2.18
2.20
3.12
2.95
2.84
2.59
2.44
Graham Number
-0.75
-0.50
0.79
1.43
1.30
1.81
2.09
1.79
1.88
2.04
2.22
2.79
3.92
4.64
5.61
6.09
6.15
Earnings Power Value (EPV)
0.47
4.65
8.85
19.04
16.61
25.50
21.68
10.02
13.45
9.82
5.88
9.23
11.21
11.08
11.43
11.36
9.78
Altman Z-Score
4.00
9.00
6.00
3.00
3.00
6.00
7.00
5.00
4.00
5.00
7.00
6.00
8.00
6.00
6.00
7.00
8.00
Piotroski F-Score
-5.40
--
-2.13
22.62
-1.44
-2.21
-2.66
-2.43
-2.50
-2.35
-3.17
-2.83
-2.87
-2.64
-2.73
-3.02
-3.01
Beneish M-Score
0.26
0.29
0.40
0.89
0.95
0.63
0.38
0.75
0.50
0.71
0.89
0.70
0.60
0.57
0.60
0.64
0.64
Scaled Net Operating Assets
-23.91
-3.00
25.40
15.55
6.00
1.58
-3.56
9.05
-2.04
11.21
-2.28
-1.73
-0.28
-2.15
-0.14
-2.95
-3.45
Sloan Ratio %
2.19
3.58
8.02
5.41
3.78
5.42
6.35
3.56
2.97
2.57
2.14
2.39
2.90
2.60
2.09
1.74
1.63
Current Ratio
2.19
3.58
8.02
5.41
3.78
5.42
6.35
3.56
2.97
2.57
2.14
2.39
2.64
2.31
1.71
1.43
1.36
Quick Ratio
0.97
2.39
5.77
3.61
1.94
3.55
4.76
2.40
1.83
1.01
1.06
1.40
1.81
1.44
0.89
0.63
0.64
Cash Ratio
--
10.88
22.57
18.77
0.79
34.50
398
317
41.00
175
155
130
384
884
539
552
522
Interest Coverage
1.20
0.96
1.80
6.32
9.00
12.96
14.72
11.00
12.00
13.80
8.40
14.25
16.05
15.68
14.77
13.90
13.50
Highest Stock Price
0.20
0.40
0.56
1.24
3.28
7.40
7.20
7.56
7.52
7.08
5.60
5.44
9.99
8.65
12.83
9.88
9.26
Lowest Stock Price
0.15
0.29
1.14
-3.76
-6.40
-4.55
-0.07
-3.84
-0.02
-1.28
-0.03
2.02
0.77
4.88
4.71
4.74
3.39
Shares Buyback Ratio %
0.11
0.81
0.97
0.05
0.07
-2.62
0.31
0.70
0.27
0.77
1.29
1.21
1.25
4.28
5.31
4.71
3.70
Buyback Yield %
9.68
23.14
28.34
20.47
9.06
41.45
15.75
11.82
28.26
14.60
16.49
-2.80
9.89
16.10
10.03
6.56
4.57
YoY Rev. per Sh. Growth
-200
300
100.00
--
-104
767
100.00
--
-50.00
200
83.33
--
118
-31.25
18.18
2.56
-5.13
YoY EPS Growth
-121
808
67.06
-21.83
-75.68
263
79.59
-14.20
1.32
102
33.98
10.87
55.77
-16.92
12.46
1.95
-3.23
YoY EBITDA Growth
--
--
--
--
--
--
--
--
--
--
30.01
29.85
43.32
33.71
18.10
8.55
10.30
5-Year EBITDA Growth Rate
5.22
5.21
5.17
5.24
5.47
5.79
5.95
5.96
6.17
6.21
6.21
6.16
6.10
5.96
5.49
5.32
5.21
Shares Outstanding (Basic Average)
5.21
5.20
5.14
5.33
5.67
5.93
5.93
6.16
6.16
6.24
6.24
6.12
6.07
5.78
5.50
5.24
5.21
Shares Outstanding (EOP)
0.86
1.34
2.30
1.87
0.95
1.75
2.44
2.13
1.80
1.22
0.91
0.96
0.54
0.79
0.35
0.43
0.39
Beta
03/31/10
03/10/11
03/26/12
03/06/13
03/04/14
02/18/15
02/16/16
02/28/17
04/02/18
03/29/19
03/05/20
02/18/21
02/28/22
02/23/23
02/15/24
02/20/25
  Filing Date
03/10/11
03/26/12
03/06/13
03/04/14
02/18/15
02/16/16
02/28/17
04/02/18
03/29/19
03/05/20
02/18/21
02/28/22
02/23/23
02/15/24
02/20/25
02/20/25
  Restated Filing Date
03/27/18
03/27/19
02/24/22
02/23/23
02/15/24
02/20/25
  Earnings Release Date
--
--
--
--
--
105
100.00
120
120
119
117
108
121
87.00
63.00
63.00
63.00
Number of Shareholders
15.00
16.00
18.00
35.00
47.00
46.00
49.00
60.00
63.00
63.00
66.00
68.00
87.00
93.00
102
103
101
Number of Employees
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Jul 06, 2025
Where Food Comes From Inc (NAS:WFCF)
www.gurufocus.com/stock/NAS:WFCF/summary

Business & Geographic Segmentation

Business Segments

Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Dec24
TTM Fiscal Period
--
--
--
--
--
--
--
--
14.05
16.01
18.86
18.11
19.89
21.97
23.41
24.36
23.37
Verification and certification service revenue
--
--
--
--
--
--
--
--
--
--
--
--
--
--
1.72
1.39
1.78
Professional services
--
--
--
--
--
--
--
--
1.40
1.79
2.22
2.08
2.04
2.87
1.72
--
-- Consulting Segment
--
--
--
--
--
--
--
--
--
--
-0.31
-0.11
--
--
--
--
-- Eliminations and Other
--
--
--
--
--
--
--
11.62
--
--
--
--
--
--
--
--
-- Single segment

Geographic Segments

Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Dec24
TTM Fiscal Period
--
--
--
--
--
--
--
11.62
15.45
17.80
20.77
20.08
21.93
24.85
25.14
25.75
-- United States
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Jul 06, 2025
Where Food Comes From Inc (NAS:WFCF)
www.gurufocus.com/stock/NAS:WFCF/summary

Explanation

1. Predictability Rank

GuruFocus Predictability Rank is a proprietary ranking of the consistency of a business. We rank the predictability of companies based on the consistency of their revenue per share and EBITDA (earnings before interest, tax, depreciation and amortization) per share over the past 10 fiscal years. Our study found that there is a strong correlation between the stock performance and the predictability of a business. Over the long term, companies with higher predictability also have better stock performance.

The rank is from 1-star to 5-star, with 5-star as the best.

2. Financial Strength

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:

  1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
  2. Debt to revenue ratio. The lower, the better.
  3. Altman Z-Score.

The rank is from 1 to 10, with 10 as the highest.

A Financial Strength rank of 8 or above indicates good financial strength; between 4-7 indicates fair financial strength; 3 or below means poor financial strength.

3. Profitability Rank

GuruFocus Profitability Rank indicates how profitable a company is and how likely it is that the company's business will stay that way. It is based on these factors:

  1. Operating Margin %.
  2. Piotroski F-Score.
  3. Trend of the Operating Margin percentage (five-year average). A company with an uptrend in profit margin will have a higher rank.
  4. Consistency of the profitability.
  5. Predictability Rank.

The rank is from 1 to 10, with 10 as the highest.

A Profitability Rank of 8 or above indicates good profitability; between 4-7 indicates fair profitability; 3 or below means poor profitability.

4. Peter Lynch Chart

In Peter Lynch's excellent book, "One Up on Wall Street," he used many charts to illustrate the valuation of stocks. “A quick way to tell if a stock is overpriced is to compare the price line to the earnings line. If you bought familiar growth companies – such as Shoney’s, The Limited, or Marriott – when the stock price fell well below the earnings line, and sold them when the stock price rose dramatically above it, the chances are you’d do pretty well.”

The original Peter Lynch Chart does have limitations due to the right side price scale is pre-set at 15 times the earnings scale on the left side. When the stock price and earnings line coincide, the price-to-earnings ratio is always 15 times. Instead of using the fixed PE Ratio of 15, our approach is using 15-year historical median PE without NRI Ratio for each stock.

The Peter Lynch Chart with earnings line at median PE without NRI ratio works well for the companies with steady growth and earnings trends, or the stalwarts, as coined by Lynch. These companies tend to be found in sectors such as consumer staples, healthcare, and utilities, where the consumption of the product or service is relatively independent of economic conditions. It does not work well with the sectors that are cyclical: industrials, chemicals, durable goods, and so forth.

5. GF Value

Based on the relationship between the current stock price and the GF Value, GuruFocus provides the following 6 evaluations:

  1. Possible Value Trap, Think Twice
  2. Significantly Overvalued
  3. Modestly Overvalued
  4. Fairly Valued
  5. Modestly Undervalued
  6. Significantly Undervalued
There is only a sufficient margin of safety when the stock is undervalued.

Disclaimer

GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.