Village Farms International, Inc. (VFF) intrinsic value & 10-year financials

Village Farms International, Inc. (VFF) has a Graham intrinsic value of $8.97 per share. At $2.53 on Oct 17, 2026, the stock trades 72% below that value. Over the last 10 fiscal years revenue grew 4.0% a year to $215.9M, with an average return on invested capital of -5.1%.

Graham intrinsic value
$8.97
Share price (Oct 17, 2026)
$2.53
Price vs Graham value
72% below
Market cap
$299.9M
Revenue (FY2025)
$215.9M
Revenue growth (10-yr CAGR)
4.0%
ROIC (10-yr avg)
-5.1%
Free cash flow (FY2025)
$39.9M

VFF 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $215.9M $32.4M $0.27 $39.9M — 12.4%
FY2024 $336.2M -$35.9M -$0.32 $265.0K — -12.1%
FY2023 $285.6M -$31.8M -$0.29 -$1.2M — -9.6%
FY2022 $293.6M -$101.1M -$1.13 -$34.2M — -26.7%
FY2021 $268.0M -$9.1M -$0.11 -$61.2M — -2.7%
FY2020 $170.1M $11.6M $0.19 $2.3M — 5.8%
FY2019 $144.6M $2.3M $0.05 -$16.7M — 1.8%
FY2018 $150.0M -$7.5M -$0.17 -$7.8M — -6.9%
FY2017 $158.4M -$4.8M -$0.12 -$1.0M — -7.5%
FY2016 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Village Farms International, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Village Farms International, Inc. has historically struggled to out-earn its cost of capital, averaging just -5.1% ROIC.

Village Farms International, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, Village Farms International, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $8.97 per share.

VFF stock: frequently asked questions

What is the intrinsic value of Village Farms International, Inc. (VFF) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 15.0% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, VFF's intrinsic value is about $8.97 per share.

Is VFF stock undervalued?

At $2.53 (close on Oct 17, 2026), VFF trades 72% below its Graham value of $8.97. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

Does Village Farms International, Inc. generate free cash flow?

Village Farms International, Inc. generated $39.9M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 3 of the last 9 reported years.

What is VFF's return on invested capital?

Average ROIC over the last 10 fiscal years was -5.1%, and average return on equity was -5.7%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this VFF data come from?

From Village Farms International, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 11, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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