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Vital Farms (VITL) Financials

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$9.03 -0.44 (-4.67%)
As of 03:50 PM Eastern
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Annual Income Statements for Vital Farms

Annual Income Statements for Vital Farms

This table shows Vital Farms' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/30/2018 12/29/2019 12/27/2020 12/26/2021 12/25/2022 12/31/2023 12/29/2024 12/28/2025
Net Income / (Loss) Attributable to Common Shareholders		 5.80 2.39 8.80 2.43 1.25 26 53 66
Consolidated Net Income / (Loss)		 5.63 3.31 8.88 2.38 1.23 26 53 66
Net Income / (Loss) Continuing Operations		 5.63 3.31 8.88 2.38 1.23 26 53 66
Total Pre-Tax Income 		6.35 4.42 12 0.35 2.83 32 68 91
Total Operating Income		 6.77 3.35 12 0.05 2.10 33 64 88
Total Gross Profit		 35 43 75 83 109 162 230 286
Total Revenue		 107 141 214 261 362 472 606 759
Operating Revenue		 107 141 214 261 362 472 606 759
Total Cost of Revenue		 72 98 140 178 253 310 376 474
Operating Cost of Revenue		 72 98 140 178 253 310 376 474
Total Operating Expenses		 28 40 62 83 107 129 166 197
Selling, General & Admin Expense		 19 30 47 58 77 102 134 159
Other Operating Expenses / (Income)		 8.62 10 15 25 30 27 32 38
Total Other Income / (Expense), net		 -0.42 1.07 -0.57 0.30 0.73 -1.05 3.99 2.89
Interest Expense		 0.42 0.35 0.49 0.05 0.11 0.78 1.01 0.87
Interest & Investment Income		 - - 0.10 0.38 0.99 2.54 5.25 5.01
Other Income / (Expense), net		 0.01 1.42 -0.18 -0.03 -0.15 -2.81 -0.25 -1.25
Income Tax Expense		 0.72 1.11 2.77 -2.03 1.60 6.64 14 25
Basic Earnings per Share		 $0.22 $0.09 $0.31 $0.06 $0.03 $0.62 $1.25 $1.49
Weighted Average Basic Shares Outstanding		 25.81M 25.90M 28.67M 40.03M 40.65M 41.19M 42.85M 44.59M
Diluted Earnings per Share		 $0.16 $0.07 $0.27 $0.06 $0.03 $0.59 $1.18 $1.44
Weighted Average Diluted Shares Outstanding		 35.26M 36.07M 32.91M 43.32M 43.47M 43.31M 45.13M 46.02M
Weighted Average Basic & Diluted Shares Outstanding		 - - 39.59M 40.53M 40.75M 41.80M 44.26M 44.80M

Quarterly Income Statements for Vital Farms

This table shows Vital Farms' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 3/31/2024 6/30/2024 9/29/2024 12/29/2024 3/30/2025 6/29/2025 9/28/2025 12/28/2025 3/29/2026 6/28/2026 9/27/2026
Net Income / (Loss) Attributable to Common Shareholders		 19 16 7.45 11 17 17 16 16 -1.52 -31 -6.46
Consolidated Net Income / (Loss)		 19 16 7.45 11 17 17 16 16 -1.52 -31 -6.46
Net Income / (Loss) Continuing Operations		 19 16 7.45 11 17 17 16 16 -1.52 -31 -6.46
Total Pre-Tax Income 		25 18 10 14 22 25 22 22 -1.86 -41 -9.24
Total Operating Income		 24 17 9.24 13 22 24 21 21 -2.33 -40 -7.68
Total Gross Profit		 59 58 53 60 63 72 75 76 53 11 42
Total Revenue		 148 147 145 166 162 185 199 214 187 166 182
Operating Revenue		 148 147 145 166 162 185 199 214 187 166 182
Total Cost of Revenue		 89 90 92 106 100 113 124 137 134 155 140
Operating Cost of Revenue		 89 90 92 106 100 113 124 137 134 155 140
Total Operating Expenses		 35 41 44 47 41 48 54 55 55 51 50
Selling, General & Admin Expense		 27 33 36 37 32 39 44 44 44 40 38
Other Operating Expenses / (Income)		 7.60 7.20 8.13 9.50 8.84 9.00 9.17 11 11 11 12
Total Other Income / (Expense), net		 0.56 0.97 1.14 1.32 0.57 0.74 0.57 1.01 0.47 -0.64 -1.55
Interest Expense		 0.26 0.26 0.26 0.24 0.23 0.22 0.21 0.21 0.19 0.42 2.93
Interest & Investment Income		 1.09 1.32 1.41 1.44 1.21 1.33 1.27 1.20 0.77 0.23 0.33
Other Income / (Expense), net		 -0.28 -0.09 -0.01 0.12 -0.40 -0.38 -0.49 0.02 -0.11 -0.45 1.05
Income Tax Expense		 5.70 1.77 2.94 3.74 5.44 7.89 5.55 6.10 -0.34 -9.73 -2.78
Basic Earnings per Share		 $0.46 $0.38 $0.17 $0.24 $0.38 $0.37 $0.37 $0.37 ($0.03) ($0.72) ($0.15)
Weighted Average Basic Shares Outstanding		 41.79M 42.50M 43.25M 42.85M 44.25M 44.59M 44.72M 44.59M 44.59M 42.94M 42.93M
Diluted Earnings per Share		 $0.43 $0.36 $0.16 $0.23 $0.37 $0.36 $0.36 $0.35 ($0.03) ($0.72) ($0.15)
Weighted Average Diluted Shares Outstanding		 43.85M 45.25M 45.46M 45.13M 45.80M 45.80M 46.21M 46.02M 44.59M 42.94M 42.93M
Weighted Average Basic & Diluted Shares Outstanding		 42.18M 43.10M 43.79M 44.26M - 44.69M 44.77M 44.80M 42.85M 42.93M 42.94M

Annual Cash Flow Statements for Vital Farms

This table details how cash moves in and out of Vital Farms' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/30/2018 12/29/2019 12/27/2020 12/26/2021 12/25/2022 12/31/2023 12/29/2024 12/28/2025
Net Change in Cash & Equivalents		 8.00 -11 28 1.42 -18 71 66 -102
Net Cash From Operating Activities		 11 -5.35 12 18 -8.10 51 65 34
Net Cash From Continuing Operating Activities		 11 -5.35 12 18 -8.10 51 65 34
Net Income / (Loss) Continuing Operations		 5.63 3.31 8.88 2.38 1.23 26 53 66
Consolidated Net Income / (Loss)		 5.63 3.31 8.88 2.38 1.23 26 53 66
Depreciation Expense		 1.44 1.92 2.55 3.54 5.44 7.93 13 14
Amortization Expense		 0.07 0.01 0.21 1.30 0.71 0.35 0.17 -0.51
Non-Cash Adjustments To Reconcile Net Income		 0.80 1.52 2.42 4.44 6.40 13 15 28
Changes in Operating Assets and Liabilities, net		 3.49 -12 -2.55 6.02 -22 4.11 -17 -74
Net Cash From Investing Activities		 -1.91 -5.62 -78 -18 -10 22 -7.03 -134
Net Cash From Continuing Investing Activities		 -1.91 -5.62 -78 -18 -10 22 -7.03 -134
Purchase of Property, Plant & Equipment		 -1.94 -4.80 -10 -17 -10 -12 -29 -82
Purchase of Investments		 0.00 0.00 -77 -52 -34 -2.95 -1.70 -96
Sale of Property, Plant & Equipment		 0.03 0.01 0.00 0.00 0.10 1.06 0.00 1.74
Sale and/or Maturity of Investments		 - 0.00 9.00 50 34 36 23 42
Other Investing Activities, net		 0.00 -0.83 0.85 0.00 -0.20 0.11 0.00 0.27
Net Cash From Financing Activities		 -1.51 0.43 94 2.18 0.08 -2.05 8.65 -1.23
Net Cash From Continuing Financing Activities		 -1.51 0.43 94 2.18 0.08 -2.05 8.65 -1.23
Repayment of Debt		 -0.67 -0.67 -14 0.00 0.00 -7.50 -0.41 0.00
Issuance of Debt		 0.00 1.91 6.46 0.00 0.00 7.50 0.00 0.00
Issuance of Common Equity		 0.03 14 100 0.00 0.00 0.30 0.42 0.84
Other Financing Activities, net		 -0.86 -0.62 2.46 2.18 0.08 -2.35 8.65 -2.07
Cash Interest Paid		 0.36 0.34 0.41 0.04 0.11 0.78 0.95 0.78
Cash Income Taxes Paid		 0.02 2.26 2.21 -0.10 -0.10 -5.98 -16 -24

Quarterly Cash Flow Statements for Vital Farms

This table details how cash moves in and out of Vital Farms' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 3/31/2024 6/30/2024 9/29/2024 12/29/2024 3/30/2025 6/29/2025 9/28/2025 12/28/2025 3/29/2026 6/28/2026 9/27/2026
Net Change in Cash & Equivalents		 30 19 16 1.07 5.70 -48 -14 -45 -12 -15 63
Net Cash From Operating Activities		 24 16 9.96 15 5.27 -0.76 23 5.78 -19 -27 -8.53
Net Cash From Continuing Operating Activities		 24 16 9.96 15 5.27 -0.76 23 5.78 -19 -27 -8.53
Net Income / (Loss) Continuing Operations		 19 16 7.45 11 17 17 16 16 -1.52 -31 -6.46
Consolidated Net Income / (Loss)		 19 16 7.45 11 17 17 16 16 -1.52 -31 -6.46
Depreciation Expense		 2.30 2.35 2.33 6.12 3.26 3.47 3.24 3.88 3.96 3.64 4.32
Amortization Expense		 0.07 -1.64 0.04 0.04 0.03 -0.29 -0.40 0.14 0.28 0.64 1.35
Non-Cash Adjustments To Reconcile Net Income		 3.96 6.47 4.86 -16 4.96 5.43 7.65 10 6.78 9.90 3.75
Changes in Operating Assets and Liabilities, net		 -1.39 -7.39 -4.71 14 -20 -26 -3.48 -25 -28 -10 -11
Net Cash From Investing Activities		 7.03 -1.27 2.60 -15 1.60 -48 -38 -50 29 -1.67 -15
Net Cash From Continuing Investing Activities		 7.03 -1.27 2.60 -15 1.60 -48 -38 -50 29 -1.67 -15
Purchase of Property, Plant & Equipment		 -1.32 -5.59 -3.57 -18 -3.13 -6.87 -34 -38 -21 -17 -14
Purchase of Investments		 -0.67 - - -1.03 0.00 -45 -26 -25 -0.26 - -0.35
Sale of Property, Plant & Equipment		 0.00 0.00 - - 0.05 0.56 0.42 0.72 0.00 0.12 0.01
Net Cash From Financing Activities		 -1.31 4.49 3.80 1.67 -1.17 0.19 0.58 -0.83 -23 14 86
Net Cash From Continuing Financing Activities		 -1.31 4.49 3.80 1.67 -1.17 0.19 0.58 -0.83 -23 14 86
Repurchase of Common Equity		 - - - - 0.00 - - - -20 -15 0.15
Issuance of Debt		 - - - - - - - - - - 121
Other Financing Activities, net		 -1.31 4.73 3.80 1.43 -1.17 -0.19 0.58 -1.29 -2.93 -1.61 -1.43
Cash Interest Paid		 0.26 0.26 0.22 0.22 0.21 0.20 0.19 0.18 0.17 0.29 0.40
Cash Income Taxes Paid		 0.00 11 1.53 -29 -0.00 12 5.46 -41 -0.04 -1.96 -0.03

Annual Balance Sheets for Vital Farms

This table presents Vital Farms' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/29/2019 12/27/2020 12/26/2021 12/25/2022 12/31/2023 12/29/2024 12/28/2025
Total Assets		 62 171 190 215 275 359 519
Total Current Assets		 35 137 141 150 196 246 263
Cash & Equivalents		 1.27 30 31 13 84 151 49
Short-Term Investments		 0.00 68 69 66 33 9.69 65
Accounts Receivable		 16 21 27 39 40 54 68
Inventories, net		 13 13 11 27 33 24 66
Prepaid Expenses		 2.71 3.97 3.82 5.14 6.11 7.74 11
Current Deferred & Refundable Income Taxes		 1.62 1.55 0.00 - - 0.00 1.41
Other Current Nonoperating Assets		 - - - - - 0.00 2.14
Plant, Property, & Equipment, net		 22 30 45 59 67 85 161
Total Noncurrent Assets		 4.84 4.00 4.05 5.90 13 29 96
Goodwill		 3.86 3.86 3.86 4.00 3.90 9.15 15
Other Noncurrent Operating Assets		 0.15 0.14 0.19 1.90 8.91 20 80
Total Liabilities & Shareholders' Equity		 62 171 190 215 275 359 519
Total Liabilities		 30 29 38 56 83 90 167
Total Current Liabilities		 25 26 38 48 65 79 122
Short-Term Debt		 2.88 0.58 0.00 - - - 0.00
Accounts Payable		 14 15 23 26 33 39 55
Accrued Expenses		 8.61 9.85 15 18 24 31 55
Current Deferred & Payable Income Tax Liabilities		 - - 0.00 0.43 1.21 0.84 1.27
Other Current Liabilities		 - - 0.33 2.78 6.31 7.78 10
Total Noncurrent Liabilities		 5.10 3.07 0.19 8.68 17 12 46
Long-Term Debt		 2.90 - - - - - 0.00
Other Noncurrent Operating Liabilities		 0.65 0.21 0.19 8.68 17 12 46
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 8.64 142 152 158 193 269 351
Total Preferred & Common Equity		 8.56 142 151 158 193 269 351
Preferred Stock		 - - - 0.00 0.00 0.00 0.00
Total Common Equity		 8.56 142 151 158 193 269 351
Common Stock		 20 144 149 156 163 186 202
Retained Earnings		 5.24 14 2.75 4.16 30 83 149
Accumulated Other Comprehensive Income / (Loss)		 0.00 -0.03 -0.28 -1.55 -0.38 0.00 0.04

Quarterly Balance Sheets for Vital Farms

This table presents Vital Farms' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 6/25/2023 9/24/2023 3/31/2024 6/30/2024 9/29/2024 3/30/2025 6/29/2025 9/28/2025 3/29/2026 6/28/2026 9/27/2026
Total Assets		 236 250 300 320 345 377 431 482 493 502 570
Total Current Assets		 172 177 218 234 252 260 275 272 209 163 214
Cash & Equivalents		 48 57 114 133 150 156 108 94 37 21 84
Short-Term Investments		 46 39 24 20 13 5.02 47 51 15 0.00 0.00
Accounts Receivable		 30 37 44 43 48 52 68 58 51 51 61
Inventories, net		 42 38 31 31 33 35 43 52 90 74 50
Prepaid Expenses		 6.19 5.03 6.18 4.53 6.45 8.91 6.43 12 12 13 15
Current Deferred & Refundable Income Taxes		 - - - 2.66 0.99 - - 1.91 1.54 1.45 1.73
Other Current Nonoperating Assets		 - - - - - 3.19 2.67 2.88 2.14 2.14 2.14
Plant, Property, & Equipment, net		 59 68 66 68 69 81 111 121 178 192 196
Total Noncurrent Assets		 5.10 5.42 16 18 24 36 44 88 106 147 160
Goodwill		 3.90 3.90 4.92 5.47 6.48 11 13 13 15 25 28
Other Noncurrent Operating Assets		 1.20 1.51 11 12 17 25 31 75 90 122 133
Total Liabilities & Shareholders' Equity		 236 250 300 320 345 377 431 482 493 502 570
Total Liabilities		 60 67 87 82 91 88 121 150 162 218 290
Total Current Liabilities		 52 53 70 67 78 78 111 103 118 148 137
Short-Term Debt		 - - - - - - - - - - 1.25
Accounts Payable		 22 22 33 33 36 39 66 35 55 56 48
Accrued Expenses		 25 27 22 26 33 23 34 55 49 53 52
Current Deferred & Payable Income Tax Liabilities		 2.35 0.46 6.91 0.00 0.00 6.04 0.69 0.00 1.20 0.19 0.04
Other Current Liabilities		 2.35 3.80 8.06 7.71 8.52 9.55 9.77 12 13 38 35
Total Noncurrent Liabilities		 8.57 14 16 15 14 10 10 48 43 71 153
Long-Term Debt		 - - - - - - - - - 30 116
Other Noncurrent Operating Liabilities		 8.57 14 16 15 14 10 10 48 43 41 37
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 176 183 213 238 253 289 310 331 331 284 280
Total Preferred & Common Equity		 176 183 213 238 253 289 310 331 331 284 280
Preferred Stock		 - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 176 183 213 238 253 289 310 331 331 284 280
Common Stock		 159 161 165 174 181 189 193 198 183 167 170
Retained Earnings		 18 23 49 65 73 100 117 133 148 117 110
Accumulated Other Comprehensive Income / (Loss)		 -0.96 -0.73 -0.27 -0.17 -0.06 0.02 0.00 0.04 0.00 0.01 0.01

Annual Metrics And Ratios for Vital Farms

This table displays calculated financial ratios and metrics derived from Vital Farms' official financial filings.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/30/2018 12/29/2019 12/27/2020 12/26/2021 12/25/2022 12/31/2023 12/29/2024 12/28/2025
Growth Metrics		 - - - - - - - -
Revenue Growth		 0.00% 31.88% 52.26% 21.76% 38.77% 30.33% 28.49% 25.26%
EBITDA Growth		 0.00% -19.16% 121.07% -67.13% 66.56% 377.66% 97.77% 31.20%
EBIT Growth		 0.00% -29.65% 152.67% -99.79% 7,712.00% 1,458.68% 107.95% 37.63%
NOPAT Growth		 0.00% -58.12% 271.18% -96.25% 161.26% 2,788.19% 90.28% 27.76%
Net Income Growth		 0.00% -41.16% 168.24% -73.19% -48.36% 1,978.54% 108.82% 24.15%
EPS Growth		 0.00% -56.25% 285.71% -77.78% -50.00% 1,866.67% 100.00% 22.03%
Operating Cash Flow Growth		 0.00% -146.85% 315.10% 53.60% -145.80% 728.62% 27.34% -47.99%
Free Cash Flow Firm Growth		 0.00% 0.00% 103.11% -697.37% -312.32% 213.68% -43.31% -466.18%
Invested Capital Growth		 0.00% 0.00% 22.20% 14.94% 52.58% -4.70% 43.70% 116.28%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 9.86% 9.92% 5.77% 5.24% 6.68%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% -18.22% 767.77% 22.88% 11.92% 9.88%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% -98.98% 132.23% 21.27% 7.36% 10.54%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% -92.81% 123.39% 24.56% 5.73% 10.26%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% -55.79% 128.68% 26.43% 6.74% 9.49%
EPS Q/Q Growth		 0.00% 0.00% 0.00% -62.50% 130.00% 28.26% 4.42% 9.09%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 20.05% 80.93% -901.78% 126.78% -12.13% -21.07%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -64.16% 889.72% -61.14% -80.22%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -7.52% 15.94% -12.61% 20.66% 28.64%
Profitability Metrics		 - - - - - - - -
Gross Margin		 32.63% 30.47% 34.78% 31.77% 30.23% 34.40% 37.92% 37.62%
EBITDA Margin		 7.76% 4.76% 6.91% 1.87% 2.24% 8.20% 12.63% 13.23%
Operating Margin		 6.34% 2.38% 5.71% 0.02% 0.58% 7.05% 10.48% 11.64%
EBIT Margin		 6.35% 3.39% 5.62% 0.01% 0.54% 6.45% 10.44% 11.47%
Profit (Net Income) Margin		 5.27% 2.35% 4.15% 0.91% 0.34% 5.42% 8.81% 8.73%
Tax Burden Percent		 88.62% 74.97% 76.23% 672.88% 43.45% 79.40% 79.05% 72.63%
Interest Burden Percent		 93.74% 92.68% 96.75% 1,416.00% 144.96% 105.78% 106.69% 104.75%
Effective Tax Rate		 11.38% 25.03% 23.77% -572.88% 56.55% 20.61% 20.95% 27.37%
Return on Invested Capital (ROIC)		 0.00% 13.52% 22.59% 0.72% 1.39% 33.97% 54.35% 37.23%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 43.75% 23.54% -1.35% 1.03% 34.82% 52.07% 35.71%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 7.28% -12.39% 0.90% -0.59% -19.40% -31.24% -15.87%
Return on Equity (ROE)		 0.00% 20.80% 10.20% 1.62% 0.79% 14.57% 23.11% 21.36%
Cash Return on Invested Capital (CROIC)		 0.00% -186.48% 2.61% -13.18% -40.25% 38.78% 18.49% -36.30%
Operating Return on Assets (OROA)		 0.00% 7.70% 10.32% 0.01% 0.97% 12.43% 19.95% 19.84%
Return on Assets (ROA)		 0.00% 5.35% 7.62% 1.32% 0.61% 10.44% 16.83% 15.10%
Return on Common Equity (ROCE)		 0.00% 5.59% 8.81% 1.62% 0.79% 14.57% 23.11% 21.36%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 38.70% 6.25% 1.57% 0.78% 13.27% 19.82% 0.00%
Net Operating Profit after Tax (NOPAT)		 6.00 2.51 9.32 0.35 0.91 26 50 64
NOPAT Margin		 5.62% 1.78% 4.35% 0.13% 0.25% 5.60% 8.29% 8.45%
Net Nonoperating Expense Percent (NNEP)		 0.00% -30.22% -0.95% 2.07% 0.35% -0.86% 2.27% 1.52%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - 0.58% 13.70% 18.65% 18.27%
Cost of Revenue to Revenue		 67.37% 69.53% 65.22% 68.23% 69.77% 65.60% 62.08% 62.38%
SG&A Expenses to Revenue		 18.21% 20.98% 22.12% 22.18% 21.33% 21.56% 22.09% 20.99%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 26.29% 28.09% 29.07% 31.75% 29.65% 27.35% 27.44% 25.98%
Earnings before Interest and Taxes (EBIT)		 6.78 4.77 12 0.03 1.95 30 63 87
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 8.28 6.70 15 4.87 8.11 39 77 100
Valuation Ratios		 - - - - - - - -
Price to Book Value (P/BV)		 0.00 14.60 7.40 4.61 3.98 3.39 6.07 4.04
Price to Tangible Book Value (P/TBV)		 0.00 26.59 7.61 4.73 4.09 3.46 6.29 4.23
Price to Revenue (P/Rev)		 1.17 0.89 4.91 2.67 1.74 1.38 2.70 1.87
Price to Earnings (P/E)		 21.56 52.41 119.46 287.23 504.02 25.53 30.63 21.43
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 4.64% 1.91% 0.84% 0.35% 0.20% 3.92% 3.26% 4.67%
Enterprise Value to Invested Capital (EV/IC)		 0.00 4.13 21.03 11.47 6.93 7.06 13.53 5.55
Enterprise Value to Revenue (EV/Rev)		 0.00 1.09 4.45 2.29 1.52 1.14 2.43 1.72
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 22.93 64.48 122.97 68.08 13.84 19.27 13.01
Enterprise Value to EBIT (EV/EBIT)		 0.00 32.22 79.25 23,935.47 282.54 17.61 23.30 15.01
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 61.16 102.41 1,710.17 603.63 20.30 29.36 20.37
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 82.92 33.84 0.00 10.53 22.75 38.78
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 886.71 0.00 0.00 17.78 86.31 0.00
Leverage & Solvency		 - - - - - - - -
Debt to Equity		 0.00 0.21 0.01 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.12 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 0.17 -0.53 -0.67 -0.58 -0.56 -0.60 -0.44
Leverage Ratio		 0.00 1.95 1.34 1.23 1.30 1.40 1.37 1.42
Compound Leverage Factor		 0.00 1.80 1.30 17.39 1.89 1.48 1.47 1.48
Debt to Total Capital		 0.00% 17.11% 0.63% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 7.49% 0.40% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 9.61% 0.23% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 60.62% 0.24% 0.19% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 22.28% 99.13% 99.81% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.98 0.06 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.79 -6.55 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.55 0.02 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 2.62 0.10 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 2.11 -10.41 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 1.47 0.04 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 5.32 24.14 13.01 9.03 7.55 14.05 7.84
Noncontrolling Interest Sharing Ratio		 0.00% 73.13% 13.56% 0.21% 0.09% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - -
Current Ratio		 0.00 1.39 5.30 3.72 3.14 3.00 3.13 2.16
Quick Ratio		 0.00 0.70 4.59 3.33 2.47 2.40 2.73 1.49
Cash Flow Metrics		 - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -35 1.08 -6.43 -27 30 17 -63
Operating Cash Flow to CapEx		 597.80% -111.69% 111.77% 105.81% -78.11% 485.65% 226.30% 42.04%
Free Cash Flow to Firm to Interest Expense		 0.00 -99.24 2.21 -123.68 -232.60 38.55 16.92 -71.60
Operating Cash Flow to Interest Expense		 26.94 -15.34 23.59 340.04 -71.04 65.10 64.18 38.58
Operating Cash Flow Less CapEx to Interest Expense		 22.44 -29.07 2.48 18.67 -161.98 51.69 35.82 -53.19
Efficiency Ratios		 - - - - - - - -
Asset Turnover		 0.00 2.27 1.84 1.44 1.79 1.93 1.91 1.73
Accounts Receivable Turnover		 0.00 8.74 11.57 10.90 11.00 12.01 12.89 12.43
Inventory Turnover		 0.00 7.56 10.81 14.93 13.37 10.36 13.31 10.51
Fixed Asset Turnover		 0.00 6.27 8.15 6.98 6.98 7.49 8.01 6.20
Accounts Payable Turnover		 0.00 7.24 9.64 9.37 10.42 10.41 10.45 10.11
Days Sales Outstanding (DSO)		 0.00 41.78 31.55 33.49 33.18 30.40 28.31 29.36
Days Inventory Outstanding (DIO)		 0.00 48.29 33.76 24.45 27.31 35.23 27.43 34.73
Days Payable Outstanding (DPO)		 0.00 50.39 37.87 38.97 35.03 35.06 34.94 36.10
Cash Conversion Cycle (CCC)		 0.00 39.68 27.43 18.97 25.46 30.57 20.79 27.99
Capital & Investment Metrics		 - - - - - - - -
Invested Capital		 0.00 37 45 52 80 76 109 236
Invested Capital Turnover		 0.00 7.58 5.19 5.35 5.49 6.07 6.56 4.41
Increase / (Decrease) in Invested Capital		 0.00 37 8.25 6.78 27 -3.74 33 127
Enterprise Value (EV)		 0.00 154 955 598 552 536 1,475 1,307
Market Capitalization		 125 125 1,051 698 631 653 1,635 1,421
Book Value per Share		 $0.00 $0.33 $3.60 $3.76 $3.89 $4.63 $6.15 $7.85
Tangible Book Value per Share		 $0.00 $0.18 $3.50 $3.66 $3.79 $4.54 $5.94 $7.51
Total Capital		 0.00 38 143 152 158 193 269 351
Total Debt		 0.00 6.57 0.91 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 3.69 0.33 0.00 0.00 0.00 0.00 0.00
Net Debt		 0.00 5.30 -97 -100 -79 -117 -160 -113
Capital Expenditures (CapEx)		 1.91 4.79 10 17 10 10 29 80
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 11 14 3.71 23 13 7.22 28
Debt-free Net Working Capital (DFNWC)		 0.00 13 112 103 102 130 168 141
Net Working Capital (NWC)		 0.00 9.65 111 103 102 130 168 141
Net Nonoperating Expense (NNE)		 0.37 -0.80 0.44 -2.03 -0.32 0.84 -3.15 -2.10
Net Nonoperating Obligations (NNO)		 0.00 5.30 -97 -100 -79 -117 -160 -115
Total Depreciation and Amortization (D&A)		 1.51 1.93 2.76 4.84 6.15 8.27 13 13
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 8.00% 6.54% 1.42% 6.42% 2.86% 1.19% 3.64%
Debt-free Net Working Capital to Revenue		 0.00% 8.90% 52.23% 39.59% 28.16% 27.61% 27.63% 18.56%
Net Working Capital to Revenue		 0.00% 6.86% 51.96% 39.59% 28.16% 27.61% 27.63% 18.56%
Earnings Adjustments		 - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.06 $0.03 $0.62 $1.25 $1.49
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 40.03M 40.65M 41.19M 42.85M 44.59M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.06 $0.03 $0.59 $1.18 $1.44
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 43.32M 43.47M 43.31M 45.13M 46.02M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 40.53M 40.75M 41.80M 44.26M 44.80M
Normalized Net Operating Profit after Tax (NOPAT)		 6.00 2.51 9.32 0.04 1.47 26 50 64
Normalized NOPAT Margin		 5.62% 1.78% 4.35% 0.01% 0.41% 5.60% 8.29% 8.45%
Pre Tax Income Margin		 5.95% 3.14% 5.44% 0.14% 0.78% 6.82% 11.14% 12.02%
Debt Service Ratios		 - - - - - - - -
EBIT to Interest Expense		 15.98 13.66 24.68 0.48 17.13 38.93 62.68 99.69
NOPAT to Interest Expense		 14.14 7.20 19.10 6.73 8.02 33.76 49.74 73.44
EBIT Less CapEx to Interest Expense		 11.47 -0.07 3.58 -320.88 -73.82 25.52 34.31 7.92
NOPAT Less CapEx to Interest Expense		 9.64 -6.53 -2.01 -314.64 -82.93 20.36 21.38 -18.33
Payout Ratios		 - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 431.43% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Vital Farms

This table displays calculated financial ratios and metrics derived from Vital Farms' official financial filings.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 3/31/2024 6/30/2024 9/29/2024 12/29/2024 3/30/2025 6/29/2025 9/28/2025 12/28/2025 3/29/2026 6/28/2026 9/27/2026
DEI Shares Outstanding		 - - - - - - - - 44,797,125.00 42,848,454.00 42,931,522.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 44,797,125.00 42,848,454.00 42,931,522.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - -0.03 -0.73 -0.15
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 24.13% 38.46% 31.31% 22.22% 9.64% 25.36% 37.20% 28.66% 15.39% -10.14% -8.43%
EBITDA Growth		 146.55% 59.95% 124.82% 73.30% -6.08% 24.97% 88.39% 55.00% -92.73% -236.55% -104.08%
EBIT Growth		 152.26% 124.43% 101.31% 49.39% -10.58% 37.33% 126.47% 63.30% -111.43% -273.36% -131.73%
NOPAT Growth		 130.86% 127.71% 41.67% 40.16% -11.44% 4.38% 141.33% 62.24% -109.91% -274.13% -133.62%
Net Income Growth		 166.06% 144.49% 64.63% 46.74% -11.15% 1.83% 120.51% 54.29% -109.01% -286.71% -139.34%
EPS Growth		 168.75% 140.00% 60.00% 27.78% -13.95% 0.00% 125.00% 52.17% -108.11% -300.00% -141.67%
Operating Cash Flow Growth		 343.25% 19.43% 20.51% -37.71% -77.98% -104.72% 135.14% -60.90% -451.82% -3,494.88% -136.41%
Free Cash Flow Firm Growth		 258.32% 201.16% 122.93% -322.12% -217.83% -510.08% -2,590.04% -372.26% -380.67% -230.80% -74.09%
Invested Capital Growth		 -10.30% 3.89% 4.07% 43.70% 64.19% 77.46% 102.86% 116.28% 122.96% 90.83% 70.15%
Revenue Q/Q Growth		 8.92% -0.37% -1.62% 14.47% -2.29% 13.92% 7.67% 7.35% -12.36% -11.29% 9.72%
EBITDA Q/Q Growth		 235.06% -36.41% -34.65% 66.08% 27.93% 7.87% -10.73% 7.21% -92.96% -2,125.66% 97.33%
EBIT Q/Q Growth		 171.96% -28.63% -45.85% 42.13% 62.79% 9.60% -10.70% 2.48% -111.39% -1,563.09% 83.66%
NOPAT Q/Q Growth		 171.27% -16.85% -57.14% 44.98% 71.40% -2.00% -0.90% -2.54% -110.47% -1,621.53% 80.87%
Net Income Q/Q Growth		 163.84% -14.11% -54.43% 42.09% 59.74% -1.56% -1.32% -0.58% -109.32% -1,941.06% 79.20%
EPS Q/Q Growth		 138.89% -16.28% -55.56% 43.75% 60.87% -2.70% 0.00% -2.78% -108.57% -2,300.00% 79.17%
Operating Cash Flow Q/Q Growth		 0.93% -32.64% -38.26% 48.39% -64.32% -114.43% 3,177.79% -75.32% -421.02% -47.44% 68.83%
Free Cash Flow Firm Q/Q Growth		 157.55% -55.10% -74.79% -861.83% -36.61% -56.28% -53.09% -44.49% -39.05% -7.56% 19.43%
Invested Capital Q/Q Growth		 -0.13% 13.14% 5.40% 20.66% 14.11% 22.29% 20.49% 28.64% 17.63% 4.67% 7.43%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 39.81% 39.13% 36.88% 36.07% 38.54% 38.85% 37.68% 35.79% 28.32% 6.58% 23.13%
EBITDA Margin		 18.88% 12.05% 8.00% 11.61% 15.20% 14.40% 11.94% 11.92% 0.96% -21.88% -0.53%
Operating Margin		 16.34% 11.63% 6.37% 7.83% 13.42% 12.88% 10.76% 10.03% -1.25% -24.18% -4.22%
EBIT Margin		 16.15% 11.57% 6.37% 7.91% 13.17% 12.67% 10.51% 10.04% -1.30% -24.45% -3.64%
Profit (Net Income) Margin		 12.86% 11.09% 5.14% 6.37% 10.42% 9.00% 8.25% 7.64% -0.81% -18.71% -3.55%
Tax Burden Percent		 76.94% 90.22% 71.72% 73.88% 75.65% 67.82% 74.74% 72.80% 81.87% 76.16% 69.95%
Interest Burden Percent		 103.49% 106.21% 112.43% 109.11% 104.57% 104.76% 105.05% 104.62% 76.16% 100.48% 139.19%
Effective Tax Rate		 23.06% 9.78% 28.28% 26.12% 24.35% 32.18% 25.26% 27.20% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 78.55% 67.54% 29.73% 37.97% 62.96% 48.33% 41.83% 32.16% -3.41% -58.59% -8.93%
ROIC Less NNEP Spread (ROIC-NNEP)		 78.17% 66.83% 29.09% 37.26% 62.67% 48.01% 41.56% 31.62% -3.51% -54.67% -7.07%
Return on Net Nonoperating Assets (RNNOA)		 -45.28% -39.71% -17.28% -22.35% -37.70% -27.18% -22.11% -14.05% 1.23% 13.91% 1.35%
Return on Equity (ROE)		 33.27% 27.84% 12.45% 15.61% 25.27% 21.15% 19.73% 18.10% -2.17% -44.68% -7.58%
Cash Return on Invested Capital (CROIC)		 56.87% 50.40% 49.65% 18.49% -0.51% -14.76% -25.38% -36.30% -53.31% -62.45% -60.06%
Operating Return on Assets (OROA)		 30.69% 22.51% 12.34% 15.11% 24.15% 22.20% 18.12% 17.36% -2.35% -40.14% -5.19%
Return on Assets (ROA)		 24.43% 21.56% 9.95% 12.18% 19.10% 15.77% 14.22% 13.22% -1.47% -30.72% -5.05%
Return on Common Equity (ROCE)		 33.27% 27.84% 12.45% 15.61% 25.27% 21.15% 19.73% 18.10% -2.17% -44.68% -7.58%
Return on Equity Simple (ROE_SIMPLE)		 17.55% 19.75% 19.74% 0.00% 17.74% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 19 15 6.63 9.61 16 16 16 16 -1.63 -28 -5.38
NOPAT Margin		 12.57% 10.49% 4.57% 5.79% 10.15% 8.73% 8.04% 7.30% -0.87% -16.93% -2.95%
Net Nonoperating Expense Percent (NNEP)		 0.39% 0.71% 0.63% 0.70% 0.29% 0.32% 0.27% 0.53% 0.10% -3.92% -1.86%
Return On Investment Capital (ROIC_SIMPLE)		 - - - 3.57% 5.70% 5.21% 4.83% 4.44% -0.49% -8.96% -1.35%
Cost of Revenue to Revenue		 60.19% 60.87% 63.12% 63.93% 61.46% 61.15% 62.32% 64.21% 71.68% 93.42% 76.87%
SG&A Expenses to Revenue		 18.34% 22.62% 24.90% 22.51% 19.67% 21.10% 22.32% 20.67% 23.70% 24.32% 20.94%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 23.48% 27.51% 30.51% 28.24% 25.12% 25.97% 26.92% 25.76% 29.57% 30.76% 27.35%
Earnings before Interest and Taxes (EBIT)		 24 17 9.23 13 21 23 21 21 -2.44 -41 -6.64
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 28 18 12 19 25 27 24 25 1.79 -36 -0.97
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.56 8.27 5.98 6.07 4.55 5.55 5.71 4.04 1.78 1.69 1.52
Price to Tangible Book Value (P/TBV)		 4.66 8.47 6.13 6.29 4.73 5.79 5.95 4.23 1.87 1.85 1.69
Price to Revenue (P/Rev)		 1.94 3.64 2.63 2.70 2.12 2.61 2.66 1.87 0.75 0.63 0.57
Price to Earnings (P/E)		 25.96 41.89 30.27 30.63 25.66 33.33 31.22 21.43 12.30 3,073.55 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 3.85% 2.39% 3.30% 3.26% 3.90% 3.00% 3.20% 4.67% 8.13% 0.03% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 11.01 21.23 14.95 13.53 9.28 10.28 9.52 5.55 1.94 1.68 1.48
Enterprise Value to Revenue (EV/Rev)		 1.67 3.36 2.35 2.43 1.86 2.38 2.45 1.72 0.68 0.64 0.62
Enterprise Value to EBITDA (EV/EBITDA)		 15.08 29.37 19.75 19.27 15.39 19.48 19.09 13.01 6.92 33.27 0.00
Enterprise Value to EBIT (EV/EBIT)		 18.60 33.51 22.91 23.30 18.99 23.29 22.14 15.01 8.48 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 22.63 39.91 28.43 29.36 23.98 32.01 29.98 20.37 11.71 16,471.17 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 12.01 25.25 18.31 22.75 25.01 53.44 40.86 38.78 54.34 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 18.31 42.93 30.72 86.31 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.11 0.42
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.11 0.42
Financial Leverage		 -0.58 -0.59 -0.59 -0.60 -0.60 -0.57 -0.53 -0.44 -0.35 -0.25 -0.19
Leverage Ratio		 1.38 1.34 1.36 1.37 1.35 1.37 1.41 1.42 1.40 1.57 1.72
Compound Leverage Factor		 1.43 1.43 1.53 1.50 1.41 1.44 1.48 1.48 1.07 1.58 2.39
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9.56% 29.56%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.31%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9.56% 29.25%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 90.44% 70.44%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.04 -11.72
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.60 -3.36
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.04 -11.59
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,012.08 -5.85
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 295.56 -1.67
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,012.08 -5.78
Altman Z-Score		 9.46 17.20 12.61 13.59 11.76 11.07 9.98 7.42 4.40 2.94 2.59
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.10 3.50 3.24 3.13 3.35 2.48 2.65 2.16 1.77 1.10 1.56
Quick Ratio		 2.57 2.92 2.71 2.73 2.75 2.02 1.98 1.49 0.87 0.49 1.06
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 27 12 3.09 -24 -32 -50 -77 -111 -155 -166 -134
Operating Cash Flow to CapEx		 1,808.84% 288.66% 279.18% 81.38% 171.29% -12.07% 69.68% 15.53% -89.40% -164.97% -59.80%
Free Cash Flow to Firm to Interest Expense		 107.04 47.69 11.93 -98.50 -137.43 -230.55 -361.23 -531.92 -813.58 -394.92 -45.72
Operating Cash Flow to Interest Expense		 93.92 62.77 38.46 61.85 22.54 -3.49 109.96 27.66 -97.66 -64.98 -2.91
Operating Cash Flow Less CapEx to Interest Expense		 88.73 41.03 24.68 -14.15 9.38 -32.42 -47.84 -150.37 -206.90 -104.37 -7.78
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.90 1.95 1.94 1.91 1.83 1.75 1.72 1.73 1.80 1.64 1.42
Accounts Receivable Turnover		 11.94 14.86 13.53 12.89 12.99 11.83 13.43 12.43 15.19 12.86 12.60
Inventory Turnover		 9.95 9.33 10.07 13.31 11.85 11.07 10.39 10.51 8.15 9.44 11.10
Fixed Asset Turnover		 8.01 8.48 8.40 8.01 8.40 7.33 7.48 6.20 6.05 5.05 4.73
Accounts Payable Turnover		 10.79 12.43 12.48 10.45 10.77 8.23 12.41 10.11 10.89 8.98 13.58
Days Sales Outstanding (DSO)		 30.56 24.57 26.97 28.31 28.09 30.86 27.18 29.36 24.03 28.39 28.97
Days Inventory Outstanding (DIO)		 36.69 39.12 36.24 27.43 30.81 32.99 35.12 34.73 44.79 38.67 32.89
Days Payable Outstanding (DPO)		 33.83 29.36 29.26 34.94 33.89 44.35 29.40 36.10 33.52 40.64 26.88
Cash Conversion Cycle (CCC)		 33.42 34.33 33.96 20.79 25.01 19.50 32.90 27.99 35.31 26.41 34.98
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 76 86 90 109 124 152 183 236 277 290 312
Invested Capital Turnover		 6.25 6.44 6.50 6.56 6.20 5.53 5.20 4.41 3.91 3.46 3.03
Increase / (Decrease) in Invested Capital		 -8.70 3.21 3.54 33 49 66 93 127 153 138 129
Enterprise Value (EV)		 834 1,820 1,351 1,475 1,154 1,564 1,745 1,307 537 488 461
Market Capitalization		 972 1,973 1,514 1,635 1,315 1,719 1,890 1,421 589 479 427
Book Value per Share		 $5.10 $5.65 $5.88 $6.15 $6.53 $6.95 $7.41 $7.85 $7.39 $6.62 $6.53
Tangible Book Value per Share		 $4.99 $5.52 $5.73 $5.94 $6.28 $6.65 $7.11 $7.51 $7.04 $6.05 $5.88
Total Capital		 213 238 253 269 289 310 331 351 331 314 398
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 30 118
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 30 116
Net Debt		 -138 -153 -163 -160 -161 -155 -145 -113 -51 8.76 34
Capital Expenditures (CapEx)		 1.32 5.59 3.57 18 3.08 6.31 34 37 21 17 14
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 10 15 11 7.22 21 9.36 24 28 39 -5.93 -5.60
Debt-free Net Working Capital (DFNWC)		 148 167 174 168 182 164 169 141 91 15 78
Net Working Capital (NWC)		 148 167 174 168 182 164 169 141 91 15 77
Net Nonoperating Expense (NNE)		 -0.43 -0.88 -0.82 -0.97 -0.43 -0.50 -0.43 -0.74 -0.11 2.96 1.08
Net Nonoperating Obligations (NNO)		 -138 -153 -163 -160 -165 -158 -148 -115 -54 6.62 32
Total Depreciation and Amortization (D&A)		 4.04 0.71 2.37 6.15 3.29 3.18 2.83 4.03 4.23 4.28 5.67
Debt-free, Cash-free Net Working Capital to Revenue		 2.05% 2.68% 1.88% 1.19% 3.38% 1.42% 3.42% 3.64% 5.01% -0.77% -0.75%
Debt-free Net Working Capital to Revenue		 29.52% 30.88% 30.18% 27.63% 29.38% 24.98% 23.79% 18.56% 11.57% 2.00% 10.46%
Net Working Capital to Revenue		 29.52% 30.88% 30.18% 27.63% 29.38% 24.98% 23.79% 18.56% 11.57% 2.00% 10.30%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.46 $0.38 $0.17 $0.24 $0.38 $0.37 $0.37 $0.37 ($0.03) ($0.72) ($0.15)
Adjusted Weighted Average Basic Shares Outstanding		 41.79M 42.50M 43.25M 42.85M 44.25M 44.59M 44.72M 44.59M 44.59M 42.94M 42.93M
Adjusted Diluted Earnings per Share		 $0.43 $0.36 $0.16 $0.23 $0.37 $0.36 $0.36 $0.35 ($0.03) ($0.72) ($0.15)
Adjusted Weighted Average Diluted Shares Outstanding		 43.85M 45.25M 45.46M 45.13M 45.80M 45.80M 46.21M 46.02M 44.59M 42.94M 42.93M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 42.18M 43.10M 43.79M 44.26M 0.00 44.69M 44.77M 44.80M 42.85M 42.93M 42.94M
Normalized Net Operating Profit after Tax (NOPAT)		 19 15 6.63 9.61 16 16 16 16 -1.63 -28 -5.38
Normalized NOPAT Margin		 12.57% 10.49% 4.57% 5.79% 10.15% 8.73% 8.04% 7.30% -0.87% -16.93% -2.95%
Pre Tax Income Margin		 16.71% 12.29% 7.16% 8.63% 13.78% 13.28% 11.04% 10.50% -0.99% -24.57% -5.07%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 93.69 66.35 35.65 54.91 91.30 107.42 98.18 102.54 -12.85 -96.43 -2.26
NOPAT to Interest Expense		 72.92 60.16 25.59 40.20 70.37 74.03 75.08 74.58 -8.59 -66.75 -1.84
EBIT Less CapEx to Interest Expense		 88.50 44.60 21.88 -21.09 78.15 78.49 -59.62 -75.49 -122.09 -135.82 -7.13
NOPAT Less CapEx to Interest Expense		 67.73 38.42 11.81 -35.80 57.22 45.10 -82.72 -103.45 -117.83 -106.14 -6.70
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Vital Farms’ financial performance deteriorated sharply in Q2 2026. The company has achieved substantial long-term revenue growth, with quarterly revenue increasing from $92.0 million in Q3 2022 to $166.0 million in Q2 2026. However, the latest quarter showed a significant reversal in profitability and cash generation compared with the same quarter in 2025.

Q2 2026 revenue declined approximately 10.1% year over year, while gross profit plunged to $10.9 million from $71.8 million. Gross margin fell to roughly 6.6%, compared with 38.8% in Q2 2025. The company reported an operating loss of $40.1 million and a net loss of $31.1 million, or $0.72 per diluted share, versus net income of $16.6 million, or $0.36 per diluted share, in the prior-year quarter.

The cash flow statement also weakened. Operating cash flow was negative $27.4 million in Q2 2026, following negative operating cash flow of $18.6 million in Q1. This contrasts with positive operating cash flow in most of the comparable 2023–2025 quarters. The latest cash outflow was driven partly by a $10.5 million use of operating working capital, although the magnitude of the net loss was the primary factor.

Vital Farms continued investing in capacity, spending $16.7 million on property, plant and equipment in Q2 2026. At the same time, the company sold or matured $14.8 million of investments, issued $30.0 million of long-term debt, and repurchased $15.2 million of stock. These actions helped fund operations and capital spending but also indicate that liquidity management has become more important.

  • Long-term revenue growth remains a strength: Quarterly revenue rose from $110.1 million in Q4 2022 to $213.6 million in Q4 2025, before falling to $166.0 million in Q2 2026.
  • Capital investment has expanded the asset base: Net property, plant and equipment increased to $192.2 million in Q2 2026 from $58.8 million in Q1 2023, suggesting continued investment in production capacity and infrastructure.
  • Debt remains moderate relative to equity: Long-term debt was $30.0 million in Q2 2026, compared with total equity of $283.7 million. Interest expense was also relatively low at $421,000 for the quarter.
  • Share repurchases may support per-share value over time: Vital Farms repurchased $15.2 million of common stock in Q2 and $20.0 million in Q1, reducing the weighted-average basic share count from 44.6 million in Q2 2025 to 42.9 million in Q2 2026.
  • Liquidity remains available but has narrowed: Cash and equivalents totaled $21.2 million at the end of Q2 2026, while the company held no short-term investments. The balance sheet also included $50.7 million of receivables and $73.9 million of inventory.
  • Investment sales have been a recurring source of cash: The company sold or matured $14.8 million of investments in Q2 2026 and $50.2 million in Q1, indicating that reported investing cash flow has been influenced by portfolio repositioning rather than operations alone.
  • Q2 2026 profitability collapsed: Gross margin fell to approximately 6.6% from 38.8% a year earlier, and the company swung from $16.6 million of net income to a $31.1 million net loss.
  • Operating cash flow has turned negative: Vital Farms generated negative operating cash flow in both Q1 and Q2 2026, totaling approximately negative $46.7 million for the first half of the year.
  • Working capital is absorbing cash: Changes in operating assets and liabilities used $28.0 million in Q1 and $10.5 million in Q2 2026. Inventory was $73.9 million at quarter-end, up substantially from $42.7 million in Q2 2025.
  • Balance-sheet flexibility has weakened: The current ratio declined to approximately 1.1 in Q2 2026 from 2.5 in Q2 2025, while total liabilities increased to $218.4 million from $121.0 million over the same period. New long-term debt and continued share repurchases could add pressure if losses persist.

For investors, the central issue is whether Q2 2026 represents a temporary margin disruption or a more lasting deterioration in the company’s economics. Vital Farms still has a larger operating asset base and a history of revenue growth, but the combination of sharply lower margins, negative operating cash flow, rising inventory, reduced liquidity and new debt materially increases execution risk. Future quarters will need to show a recovery in gross margin and operating cash flow before the company’s long-term growth profile can be viewed as financially sustainable.

11/12/26 03:50 PM ETAI Generated. May Contain Errors.

Vital Farms Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Vital Farms' fiscal year ends in December. Their fiscal year 2025 ended on December 28, 2025.

Vital Farms' net income appears to be on an upward trend, with a most recent value of $66.28 million in 2025, rising from $5.63 million in 2018. The previous period was $53.39 million in 2024. Check out Vital Farms' forecast to explore projected trends and price targets.

Vital Farms' total operating income in 2025 was $88.37 million, based on the following breakdown:
  • Total Gross Profit: $285.68 million
  • Total Operating Expenses: $197.31 million

Over the last 7 years, Vital Farms' total revenue changed from $106.71 million in 2018 to $759.44 million in 2025, a change of 611.7%.

In the past 13 quarters, Vital Farms' cash and equivalents has ranged from $21.24 million in Q2 2026 to $156.31 million in Q1 2025, and is currently $83.95 million as of their latest financial filing in Q3 2026.

Vital Farms had total debt of $0.00 at the end of 2025, compared with none in 2024, and none in 2018.

Over the last 7 years, Vital Farms' book value per share changed from 0.00 in 2018 to 7.85 in 2025, a change of 784.5%.


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Financial statements for NASDAQ:VITL last updated on 11/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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