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Where Food Comes From, Inc. and its subsidiaries ( WFCF, the Company, our, we, or us ) is a leading trusted resource for third-party verification of food production practices in North America. The Company estimates that it supports more than approximately 17,500 farmers, ranchers, vineyards, wineries, processors, retailers, distributors, trade associations, consumer brands, chefs and restaurant…
Operating margin is thin at 4.84%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 3.3% YoY. Margins deteriorated 3.7pp alongside, both lines moving the wrong way.
Free cash flow declined 44% versus the prior year, cash generation momentum has weakened. Operating margin contracted 3.7pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$25M
▼ -3.3% YoY
Net Income (TTM)
$2M
▼ -27.5% YoY
Op. Margin
5.45%
▼ -3.7pp YoY
ROIC
9.47%
▼ -1.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1M
▼ -43.5% YoY
Op. Cash Flow (TTM)
$1M
▼ -41.1% YoY
Net Debt
-$2M
Net Cash Position
Cash & Equiv.
$3M
5Y CAGR: +4.4%
5Y CAGR: -6.1%
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