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Mission Produce

AVO on Nasdaq. Mission Produce sells avocados to food retailers, distributors, and produce wholesalers. Market value $1.1bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to July 2026. Quality checks use five annual reports, the latest for the year to October 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Everyday goods stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to July 2026
-0.2%low

For every $100 of what the whole company costs, it produced $-0.21 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to July 2026
62.5×full

You pay 62.5 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to October 2025
7.8%five-year median

Each dollar kept in the business earns 8 cents a year. Above 10 is good.

Quality score: 64 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.

$12.75 a share, 27% above its 1-year low

Over the past year the price has ranged from $10.07 to $15.53.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-0.0
-0.0
-0.0
0.1
0.0
-0.0
2021202220232024202512 monthsto Jul '26

Spare cash swings from quarter to quarter here: a shortfall of $2 million in the past 12 months, $37 million in the year to October 2025.

Revenue
$892m$1.0bn$954m$1.2bn$1.4bn
Operating margin
6.8%-3.6%0.7%5.3%4.7%
Debt to equity
0.310.290.340.260.21
Shares outstanding
0.07bn0.07bn0.07bn0.07bn0.09bn

Health checks

  • Free cash flow positive2 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)8 of 9
  • Profit backed by cash (accruals)Yes
  • Debt0.21× equity
  • Revenue growth, five yearsStrong, 11.8% a year
  • Buying back its own sharesNo, 24% more shares since 2021

The quarter to July 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $450 million last quarter, up 26% on a year ago.
  • A loss of $7 million, after a profit of $15 million a year ago.
  • It keeps 2 cents of each $1 of sales as operating profit, down from 5 cents a year earlier.
  • Over the past 12 months it spent $2 million more cash than it brought in. A year earlier it had $13 million spare.
  • 17% more shares than a year ago. Each share owns a bit less of the company.
  • Debt is $382 million more than cash, up from $115 million a year ago.
  • Sales grew on a year ago in 1 of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
October 2024$354m
January 2025$334m
April 2025$380m
July 2025$358m
October 2025$319m
January 2026$279m
April 2026$291m
July 2026$450m
Profit by quarter
Profit by quarter
Quarter toAmount
October 2024$17m
January 2025$4m
April 2025$3m
July 2025$15m
October 2025$16m
January 2026-$700,000
April 2026-$7m
July 2026-$7m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
18 December 2025
Next quarterly (estimated, 10-Q)
8 December 2026

Who owns it

4 long-term investors we follow own it, up from 1 last quarter. 170 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

6 investors own more than 5%.

  • Globalharvest Holdings Venture Ltd
    Passive investor
    14.0%+2.1 pts
    Since 7 July 2026
    What they said

    (a) The acquisition by any person of additional securities of the issuer, or the disposition of securities of the issuer; (b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the issuer or any of its subsidiaries; (c) A sale or…

    Read the filing
  • Gonzalez Luis A
    Passive investor
    at least 9.2%
    (filed with 1 related holder)
    Since 30 June 2026
  • Bruce C. Taylor
    Passive investor
    at least 8.4%−3.4 pts
    (filed with 1 related holder)
    Since 30 September 2025
  • at least 6.8%
    (filed with 1 related holder)
    Since 30 June 2026
  • Barnard Stephen J
    Passive investor
    6.2%
    Since 30 June 2026
  • BlackRock, Inc.
    Passive investor
    5.3%+0.7 pts
    Since 30 June 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 2 insiders bought $13m of shares on the open market. 2 sold $3m.

  • Barnard Stephen J
    Executive Chairman, Director
    Sold
    Date
    24 September 2026
    Shares
    21,646
    Price
    $13.00
    Value
    $281,398
  • Barnard Stephen J
    Executive Chairman, Director
    Sold
    Date
    21 September 2026
    Shares
    111,358
    Price
    $13.01
    Value
    $1m
  • Barnard Stephen J
    Executive Chairman, Director
    Sold
    Date
    18 September 2026
    Shares
    35,562
    Price
    $12.55
    Value
    $446,177
  • Barnard Stephen J
    Executive Chairman, Director
    Sold
    Date
    14 September 2026
    Shares
    66,496
    Price
    $13.02
    Value
    $865,461
  • Barnard Stephen J
    Executive Chairman, Director
    Sold
    Date
    11 September 2026
    Shares
    15,000
    Price
    $13.10
    Value
    $196,500
  • Pack Jay A
    Director
    Bought
    Date
    30 June 2026
    Shares
    40,000
    Price
    $12.10
    Value
    $484,000
  • Giles Bryan E
    CHIEF FINANCIAL OFFICER
    Sold
    Date
    29 June 2026
    Shares
    5,000
    Price
    $12.13
    Value
    $60,650
  • Taylor Bruce C.
    Director
    Bought
    Date
    23 June 2026
    Shares
    70,283
    Price
    $11.25
    Value
    $790,684
  • Taylor Bruce C.
    Director
    Bought
    Date
    22 June 2026
    Shares
    29,717
    Price
    $11.36
    Value
    $337,585
  • Taylor Bruce C.
    Director
    Bought
    Date
    17 June 2026
    Shares
    286,410
    Price
    $11.27
    Value
    $3m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 18 Dec 2025, plus the 10-Q filed 8 Sep 2026 and 15 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • It isn't cheap on profits: 62.5× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.