Village Farms International
VFF on Nasdaq. Village Farms International sells tomatoes, peppers, cucumbers and cannabis to grocery stores and retailers. Market value $333m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
The company doesn't report operating profit, so we work it out from pre-tax profit and interest.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Everyday goods stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-0.13 of spare cash in the past 12 months. A savings account pays about $4.
You pay 8.3 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns -6 cents a year. Above 10 is good.
Quality score: 51 of 100. Price score: 66 of 100. Our list needs 70 on quality and 60 on price.
$2.79 a share, 55% above its 1-year low
Over the past year the price has ranged from $1.80 to $4.99.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: a shortfall of $429,000 in the past 12 months, $40 million in the year to December 2025.
| Revenue | |||||
| Revenue | $268m | $294m | $163m | $196m | $216m |
| Operating margin | |||||
| Operating margin | -3.7% | -31.8% | -14.0% | -17.3% | 15.8% |
| Debt to equity | |||||
| Debt to equity | 0.16 | 0.20 | 0.16 | 0.16 | 0.11 |
| Shares outstanding | |||||
| Shares outstanding | 0.09bn | 0.11bn | 0.11bn | 0.12bn | 0.12bn |
Health checks
- Free cash flow positive3 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)8 of 9
- Profit backed by cash (accruals)Yes
- Debt0.11× equity
- Revenue growth, five yearsSlow, 4.9% a year
- Buying back its own sharesNo, 35% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $64 million last quarter, up 7% on a year ago.
- Profit: $7 million, down 73% on a year ago.
- Over the past 12 months it spent $429,000 more cash than it brought in. A year earlier it had $30 million spare.
- 11% more shares than a year ago. Each share owns a bit less of the company.
- It has $33 million more cash than debt, up from $21 million a year ago.
| Quarter to | Amount |
|---|---|
| September 2024 | $55m |
| December 2024 | Not reported |
| March 2025 | $40m |
| June 2025 | $60m |
| September 2025 | $67m |
| December 2025 | $50m |
| March 2026 | $50m |
| June 2026 | $64m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$820,000 |
| December 2024 | Not reported |
| March 2025 | -$7m |
| June 2025 | $26m |
| September 2025 | $10m |
| December 2025 | $2m |
| March 2026 | $3m |
| June 2026 | $7m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 12 March 2026
- Next quarterly (estimated, 10-Q)
- 9 November 2026
Who owns it
1 long-term investor we follow owns it, unchanged from 1 last quarter. 101 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Gotham Asset ManagementJoel Greenblatt | $53,270 | <0.1% | Cut |
Largest holders overall
- Citadel Advisors$13mAdded
- AdvisorShares Investments$7mCut
- TWO Sigma Investments, LP$5mAdded
- Tidal Investments$4mCut
- Weiss Asset Management LP$4mNew
- Renaissance Technologies$3mAdded
- Key Client Fiduciary Advisors$3mAdded
- American Century Companies$2mAdded
- Qube Research & Technologies$2mAdded
- Timelo Investment Management$2mNew
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
1 investor owns more than 5%.
- Kenneth GriffinPassive investorat least 5.5%(filed with 6 related holders)Since 30 June 2026
- AdvisorShares TrustPassive investorSold down below 5%Since 30 June 2026
| Holder | Stake | Since | |
|---|---|---|---|
Kenneth Griffin Passive investor | at least 5.5% (filed with 6 related holders) | 30 June 2026 | |
AdvisorShares Trust Passive investor | Sold down below 5% | 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 $207,167 of shares on the open market. 3 sold $2m.
- Woodward Christopher C.DirectorBought
- Date
- 22 September 2026
- Shares
- 10,000
- Price
- $3.06
- Value
- $30,580
- DEGIGLIO MICHAEL AChief Executive Officer, DirectorBought
- Date
- 22 September 2026
- Shares
- 35,000
- Price
- $2.89
- Value
- $101,259
- DEGIGLIO MICHAEL AChief Executive Officer, DirectorBought
- Date
- 29 June 2026
- Shares
- 13,600
- Price
- $1.87
- Value
- $25,432
- DEGIGLIO MICHAEL AChief Executive Officer, DirectorBought
- Date
- 26 June 2026
- Shares
- 26,400
- Price
- $1.89
- Value
- $49,896
- Bovenschen OrvillePresident of Canadian CannabisSold
- Date
- 25 March 2026
- Shares
- 50,000
- Price
- $2.89
- Value
- $144,500
- DEGIGLIO MICHAEL AChief Executive Officer, DirectorSold
- Date
- 19 December 2025
- Shares
- 118,574
- Price
- $4.01
- Value
- $475,482
- DEGIGLIO MICHAEL AChief Executive Officer, DirectorSold
- Date
- 18 December 2025
- Shares
- 200,000
- Price
- $4.05
- Value
- $810,000
- Bovenschen OrvillePresident of Canadian CannabisSold
- Date
- 8 December 2025
- Shares
- 61,586
- Price
- $3.30
- Value
- $203,234
- Bovenschen OrvillePresident of Canadian CannabisSold
- Date
- 1 December 2025
- Shares
- 65,200
- Price
- $3.92
- Value
- $255,584
- Hauger CarolynDirectorSold
- Date
- 20 November 2025
- Shares
- 22,000
- Price
- $3.75
- Value
- $82,500
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 22 September 2026 | Woodward Christopher C. Director | Bought | 10,000 | $3.06 | $30,580 |
| 22 September 2026 | DEGIGLIO MICHAEL A Chief Executive Officer, Director | Bought | 35,000 | $2.89 | $101,259 |
| 29 June 2026 | DEGIGLIO MICHAEL A Chief Executive Officer, Director | Bought | 13,600 | $1.87 | $25,432 |
| 26 June 2026 | DEGIGLIO MICHAEL A Chief Executive Officer, Director | Bought | 26,400 | $1.89 | $49,896 |
| 25 March 2026 | Bovenschen Orville President of Canadian Cannabis | Sold | 50,000 | $2.89 | $144,500 |
| 19 December 2025 | DEGIGLIO MICHAEL A Chief Executive Officer, Director | Sold | 118,574 | $4.01 | $475,482 |
| 18 December 2025 | DEGIGLIO MICHAEL A Chief Executive Officer, Director | Sold | 200,000 | $4.05 | $810,000 |
| 8 December 2025 | Bovenschen Orville President of Canadian Cannabis | Sold | 61,586 | $3.30 | $203,234 |
| 1 December 2025 | Bovenschen Orville President of Canadian Cannabis | Sold | 65,200 | $3.92 | $255,584 |
| 20 November 2025 | Hauger Carolyn Director | Sold | 22,000 | $3.75 | $82,500 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
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
Your first deep dive is free.
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.