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Village Farms International

Nasdaq:VFF
Snowflake Description

Very undervalued with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VFF
Nasdaq
CA$206M
Market Cap
  1. Home
  2. US
  3. Food, Beverage & Tobacco
Company description

Village Farms International, Inc., together with its subsidiaries, produces, markets, and distributes greenhouse-grown tomatoes, bell peppers, and cucumbers in North America. The last earnings update was 141 days ago. More info.


Add to Portfolio Compare Print
  • Village Farms International has significant price volatility in the past 3 months.
VFF Share Price and Events
7 Day Returns
-25.4%
NasdaqCM:VFF
5.3%
US Food
-1.1%
US Market
1 Year Returns
-83.4%
NasdaqCM:VFF
-5.4%
US Food
-13.6%
US Market
VFF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Village Farms International (VFF) -25.4% -35.6% -57.3% -83.4% 89.5% 266.4%
US Food 5.3% -7.6% -14.6% -5.4% -20.9% 6.3%
US Market -1.1% -17.8% -22.5% -13.6% 4.9% 16.3%
1 Year Return vs Industry and Market
  • VFF underperformed the Food industry which returned -5.4% over the past year.
  • VFF underperformed the Market in United States of America which returned -13.6% over the past year.
Price Volatility
VFF
Industry
5yr Volatility vs Market

VFF Value

 Is Village Farms International undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Village Farms International to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Village Farms International.

NasdaqCM:VFF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqCM:VFF
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Food Unlevered Beta Simply Wall St/ S&P Global 0.56
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.565 (1 + (1- 26.5%) (28.45%))
0.788
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (0.8 * 5.44%)
6.09%

Discounted Cash Flow Calculation for NasdaqCM:VFF using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Village Farms International is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NasdaqCM:VFF DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.09%)
2020 19.50 Analyst x1 18.38
2021 18.10 Analyst x1 16.08
2022 26.30 Analyst x1 22.02
2023 41.80 Analyst x1 32.99
2024 66.30 Analyst x1 49.33
2025 85.96 Est @ 29.65% 60.28
2026 104.25 Est @ 21.28% 68.91
2027 120.32 Est @ 15.42% 74.97
2028 133.93 Est @ 11.31% 78.66
2029 145.24 Est @ 8.44% 80.40
Present value of next 10 years cash flows $502.00
NasdaqCM:VFF DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $145.24 × (1 + 1.74%) ÷ (6.09% – 1.74%)
$3,395.32
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,395.32 ÷ (1 + 6.09%)10
$1,879.55
NasdaqCM:VFF Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $502.00 + $1,879.55
$2,381.55
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,381.55 / 56.25
$42.34
NasdaqCM:VFF Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:VFF)
1.421
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $42.34 x 1.421
CA$60.15
Non-primary Listing Adjustment Factor 1 share in NasdaqCM:VFF represents 0.70765x of TSX:VFF
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.70765x
Value per Share
(Listing Adjusted, USD)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 60.15 x 0.70765
$42.56
Value per share (USD) From above. $42.56
Current discount Discount to share price of $2.59
= -1 x ($2.59 - $42.56) / $42.56
93.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Village Farms International is available for.
Intrinsic value
>50%
Share price is $2.59 vs Future cash flow value of $42.56
Current Discount Checks
For Village Farms International to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Village Farms International's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Village Farms International's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Village Farms International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Village Farms International's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:VFF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in USD $0.26
TSX:VFF Share Price ** TSX (2020-04-02) in CAD CA$3.66
TSX:VFF Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.704 $2.58
United States of America Food Industry PE Ratio Median Figure of 42 Publicly-Listed Food Companies 19.63x
United States of America Market PE Ratio Median Figure of 2,943 Publicly-Listed Companies 12.9x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Village Farms International.

NasdaqCM:VFF PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:VFF Share Price ÷ EPS (both in USD)

= 2.58 ÷ 0.26

10.1x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Village Farms International is good value based on earnings compared to the US Food industry average.
  • Village Farms International is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Village Farms International's expected growth come at a high price?
Raw Data
NasdaqCM:VFF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.1x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
56.3%per year
United States of America Food Industry PEG Ratio Median Figure of 29 Publicly-Listed Food Companies 1.55x
United States of America Market PEG Ratio Median Figure of 2,006 Publicly-Listed Companies 0.95x

*Line of best fit is calculated by linear regression .

NasdaqCM:VFF PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.1x ÷ 56.3%

0.18x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Village Farms International is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Village Farms International's assets?
Raw Data
NasdaqCM:VFF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in USD $2.63
TSX:VFF Share Price * TSX (2020-04-02) in CAD CA$3.66
TSX:VFF Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.704 $2.58
United States of America Food Industry PB Ratio Median Figure of 65 Publicly-Listed Food Companies 1.71x
United States of America Market PB Ratio Median Figure of 5,140 Publicly-Listed Companies 1.25x
NasdaqCM:VFF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:VFF Share Price ÷ Book Value per Share (both in USD)

= 2.58 ÷ 2.63

0.98x

* Primary Listing of Village Farms International.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Village Farms International is good value based on assets compared to the US Food industry average.
X
Value checks
We assess Village Farms International's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Food industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Food industry average (and greater than 0)? (1 check)
  5. Village Farms International has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

VFF Future Performance

 How is Village Farms International expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
56.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Village Farms International expected to grow at an attractive rate?
  • Village Farms International's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Village Farms International's earnings growth is expected to exceed the United States of America market average.
  • Village Farms International's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:VFF Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqCM:VFF Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 56.3%
NasdaqCM:VFF Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 2%
United States of America Food Industry Earnings Growth Rate Market Cap Weighted Average 11.9%
United States of America Food Industry Revenue Growth Rate Market Cap Weighted Average 2.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqCM:VFF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:VFF Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 158 67 1
2023-12-31 155 43 1
2022-12-31 215 28 2
2021-12-31 177 19 28 6
2020-12-31 164 21 -3 6
2020-04-03
2019-12-31 168 7 11 5
NasdaqCM:VFF Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-30 150 -4 13
2019-06-30 152 -4 16
2019-03-31 152 -2 4
2018-12-31 150 -2 -5
2018-09-30 148 -2 -6
2018-06-30 153 0 -4
2018-03-31 157 3 3
2017-12-31 158 3 4
2017-09-30 159 7 5
2017-06-30 156 4 3
2017-03-31 155 5 -2
2016-12-31 156 9 -2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Village Farms International's earnings are expected to grow significantly at over 20% yearly.
  • Village Farms International's revenue is expected to grow by 2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqCM:VFF Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Village Farms International Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:VFF Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 0.95 0.95 0.95 1.00
2023-12-31 0.65 0.65 0.65 1.00
2022-12-31 0.41 0.41 0.41 1.00
2021-12-31 0.51 0.93 0.11 4.00
2020-12-31 -0.06 0.16 -0.34 3.00
2020-04-03
2019-12-31 0.24 0.27 0.19 4.00
NasdaqCM:VFF Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-30 0.26
2019-06-30 0.32
2019-03-31 0.08
2018-12-31 -0.11
2018-09-30 -0.14
2018-06-30 -0.09
2018-03-31 0.07
2017-12-31 0.10
2017-09-30 0.12
2017-06-30 0.08
2017-03-31 -0.05
2016-12-31 -0.05

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Village Farms International will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Village Farms International's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Village Farms International has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

VFF Past Performance

  How has Village Farms International performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Village Farms International's growth in the last year to its industry (Food).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Village Farms International has delivered over 20% year on year earnings growth in the past 5 years.
  • Village Farms International has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Village Farms International has become profitable in the last year making it difficult to compare the US Food industry average.
Earnings and Revenue History
Village Farms International's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Village Farms International Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:VFF Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 150.30 12.73 19.50
2019-06-30 151.69 15.82 18.53
2019-03-31 152.40 3.65 17.52
2018-12-31 150.00 -5.15 15.56
2018-09-30 148.08 -6.02 15.91
2018-06-30 153.13 -3.74 15.64
2018-03-31 156.62 2.87 15.66
2017-12-31 158.41 3.82 15.41
2017-09-30 158.85 4.88 14.33
2017-06-30 156.16 3.16 14.32
2017-03-31 155.07 -1.93 13.52
2016-12-31 155.50 -1.98 13.72
2016-09-30 153.32 0.05 13.20
2016-06-30 149.13 1.16 12.66
2016-03-31 145.90 2.78 12.53
2015-12-31 141.93 2.09 12.05
2015-09-30 141.58 1.93 11.98
2015-06-30 140.30 0.59 12.75
2015-03-31 140.36 -0.71 13.16
2014-12-31 136.62 -0.11 13.34
2014-09-30 133.59 -3.75 13.10
2014-06-30 136.66 5.66 12.66
2014-03-31 136.25 7.56 12.88
2013-12-31 137.64 10.49 12.87
2013-09-30 136.45 2.58 13.64
2013-06-30 132.52 4.91 13.84

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Village Farms International has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Village Farms International used its assets more efficiently than the US Food industry average last year based on Return on Assets.
  • It is difficult to establish if Village Farms International improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Village Farms International's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Food industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Village Farms International has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

VFF Health

 How is Village Farms International's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Village Farms International's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Village Farms International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Village Farms International's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Village Farms International's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Village Farms International Company Filings, last reported 6 months ago.

NasdaqCM:VFF Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 129.88 37.34 6.73
2019-06-30 134.13 39.23 11.71
2019-03-31 108.86 40.06 6.19
2018-12-31 100.70 37.86 11.92
2018-09-30 83.80 43.82 5.85
2018-06-30 85.54 44.64 12.93
2018-03-31 79.86 41.51 3.87
2017-12-31 81.04 38.38 7.09
2017-09-30 70.90 46.02 4.29
2017-06-30 70.43 49.66 5.38
2017-03-31 67.25 49.42 3.87
2016-12-31 67.39 45.22 5.37
2016-09-30 60.77 49.12 5.33
2016-06-30 62.17 49.92 6.00
2016-03-31 62.87 50.90 4.34
2015-12-31 62.93 48.82 4.96
2015-09-30 60.42 49.93 5.15
2015-06-30 60.88 51.15 3.06
2015-03-31 59.93 55.65 4.43
2014-12-31 61.00 53.37 6.34
2014-09-30 58.73 55.46 7.24
2014-06-30 60.47 56.86 8.08
2014-03-31 60.83 54.87 6.35
2013-12-31 61.10 54.86 18.67
2013-09-30 62.38 56.61 20.90
2013-06-30 54.60 57.65 2.23
  • Village Farms International's level of debt (28.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (94.4% vs 28.7% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Village Farms International's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Village Farms International's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Village Farms International has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

VFF Dividends

 What is Village Farms International's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Village Farms International dividends.
If you bought $2,000 of Village Farms International shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Village Farms International's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Village Farms International's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqCM:VFF Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
United States of America Food Industry Average Dividend Yield Market Cap Weighted Average of 29 Stocks 3.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1943 Stocks 3.1%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2%
United States of America Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqCM:VFF Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2020-04-03
2019-12-31
NasdaqCM:VFF Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2011-05-26 0.000 0.000
2011-05-18 0.000 0.000
2011-03-28 0.000 0.000
2011-03-07 0.000 0.000
2010-11-12 0.000 0.000
2010-11-09 0.000 0.000
2010-08-11 0.000 0.000
2010-08-09 0.000 0.000
2010-05-10 0.000 0.000
2010-03-26 0.000 0.000
2010-03-10 0.000 0.000
2009-11-10 0.000 0.000
2009-11-03 0.000 0.000
2009-06-19 0.000 0.000
2009-05-20 0.053 6.984
2009-04-21 0.048 6.723

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Village Farms International has not reported any payouts.
  • Unable to verify if Village Farms International's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Village Farms International's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Village Farms International has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Village Farms International's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Village Farms International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Village Farms International has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

VFF Management

 What is the CEO of Village Farms International's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mike DeGiglio
COMPENSATION $2,492,418
AGE 64
TENURE AS CEO 31.3 years
CEO Bio

Mr. Michael A. DeGiglio, also known as Mike, has been the President at Village Farms International, Inc. since October 18, 2006 and has been its Chief Executive Officer since its inception in 1989. Mr. DeGiglio founded Village Farms in 1987. As chief visionary for Village Farms, he sees technological innovation as a key component for the solution to growing enough food to meet the ever increasing demands for an expanding world population. In 1996, he steered Village Farms toward the construction of the largest greenhouse footprint to built for its time, (40 acres under glass) in Fort Davis, Texas. Prior to Village Farms, he founded Agro Dynamics, Inc. (“ADI”) in 1984. He served as President of Agro Dynamics, Inc. since 1984 and served as its Chief Executive Officer. He served as Chief Executive Officer of EcoScience Corporation from 1992 to 1999 and served as its President from July 1995 to 1999. Prior to ADI, he served on active duty in the United States Navy as an officer and tactical carrier jet aviator from July 1976 to January 1983 and the Naval Air Reserves from 1983 to 2001, retiring at the rank of Captain with the United States Naval Reserve. Throughout his Naval career, he held various department head positions, completed a tour as Commanding Officer of a jet aviation squadron, performed multiple tours overseas and accumulated over 5,000 hours of military flight time. He served as the Chairman of the Presidential Advisory Board of ERAU. He has been a Director of Village Farms International, Inc. since October 18, 2006. He served as a Director of EcoScience Corporation since November 1996. During his Naval career, he has completed numerous senior advanced management courses all while logging over 5000 hours of jet flight time. Mr. DeGiglio holds a Bachelor of Science degree in Aeronautical Science and Aviation Management from Embry Riddle Aeronautical University (ERAU) in Daytona Beach, Florida in 1976.

CEO Compensation
  • Mike's compensation has increased in line with Village Farms International recently becoming profitable.
  • Mike's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure of the Village Farms International management team in years:

11.3
Average Tenure
  • The average tenure for the Village Farms International management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Mike DeGiglio

TITLE
Founder
COMPENSATION
$2M
AGE
64
TENURE
31.3 yrs

Steve Ruffini

TITLE
CFO, Executive VP
COMPENSATION
$2M
AGE
59
TENURE
11.3 yrs

Paul Selina

TITLE
Vice President of Applied Research
COMPENSATION
$664K

Bret Wiley

TITLE
Senior Vice President of Sales & Sales Operations
COMPENSATION
$311K

Lofton Barnes

TITLE
Director of Corporate Human Resources

Michael Bledsoe

TITLE
Senior Vice President of Food Safety & Regulatory Affairs

Michael Minerva

TITLE
Senior Vice President of Grower Relations & Supply Development
COMPENSATION
$300K

Patti Smith

TITLE
Corporate Controller
TENURE
2.3 yrs

Andrew Gigante

TITLE
Vice President of Financial Planning & Analysis
Board of Directors Tenure

Average tenure and age of the Village Farms International board of directors in years:

11.2
Average Tenure
64
Average Age
  • The average tenure for the Village Farms International board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

John McLernon

TITLE
Chairman
COMPENSATION
$196K
AGE
78

Mike DeGiglio

TITLE
Founder
COMPENSATION
$2M
AGE
64
TENURE
13.5 yrs

Steve Ruffini

TITLE
CFO, Executive VP
COMPENSATION
$2M
AGE
59
TENURE
6.1 yrs

John Henry

TITLE
Independent Director
COMPENSATION
$148K
TENURE
13.5 yrs

Christopher Woodward

TITLE
Independent Director
COMPENSATION
$145K
TENURE
16.4 yrs

Dave Holewinski

TITLE
Independent Director
COMPENSATION
$146K
TENURE
8.8 yrs

Roberta Cook

TITLE
Independent Director
COMPENSATION
$20K
TENURE
4.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
30. Dec 19 Sell Michael DeGiglio Individual 23. Dec 19 27. Dec 19 -50,000 $6.19 $-290,071
30. Dec 19 Sell Stephen Ruffini Individual 26. Dec 19 27. Dec 19 -40,000 $6.17 $-242,154
31. Dec 19 Sell Michael DeGiglio Individual 30. Dec 19 30. Dec 19 -60,000 $5.90 $-354,000
18. Dec 19 Buy David Holewinski Individual 22. Nov 19 22. Nov 19 13,000 $7.28 $89,680
30. Sep 19 Sell Michael DeGiglio Individual 25. Sep 19 25. Sep 19 -40,000 $9.41 $-373,866
23. Sep 19 Buy John McLernon Individual 23. Sep 19 23. Sep 19 500 $10.36 $5,180
20. Sep 19 Buy John McLernon Individual 19. Sep 19 19. Sep 19 900 $10.60 $9,525
01. Jul 19 Sell Michael DeGiglio Individual 26. Jun 19 26. Jun 19 -40,100 $11.28 $-448,897
24. Jun 19 Buy John McLernon Individual 24. Jun 19 24. Jun 19 1,000 $11.25 $11,245
21. Jun 19 Buy David Holewinski Individual 21. Jun 19 21. Jun 19 12,000 $11.81 $141,720
12. Jun 19 Sell David Holewinski Individual 10. Jun 19 11. Jun 19 -7,000 $13.70 $-95,558
07. Jun 19 Sell David Holewinski Individual 07. Jun 19 07. Jun 19 -5,000 $13.18 $-65,913
06. Jun 19 Sell David Holewinski Individual 05. Jun 19 05. Jun 19 -10,000 $12.81 $-128,095
X
Management checks
We assess Village Farms International's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Village Farms International has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

VFF News

Simply Wall St News

VFF Company Info

Description

Village Farms International, Inc., together with its subsidiaries, produces, markets, and distributes greenhouse-grown tomatoes, bell peppers, and cucumbers in North America. It operates through three segments: Produce Business, Energy Business, and Cannabis and Hemp Business. The company also owns and operates a 7.0 megawatt power plant that generates and sells electricity to British Columbia Hydro and Power Authority; and produces and supplies cannabis products. It markets and distributes its products under the Village Farms brand name to retail supermarkets and fresh food distribution companies, as well as products produced under exclusive arrangements with other greenhouse producers. The company was formerly known as Village Farms Canada Inc. and changed its name to Village Farms International, Inc. in December 2009. Village Farms International, Inc. was founded in 1989 and is headquartered in Delta, Canada.

Details
Name: Village Farms International, Inc.
VFF
Exchange: NasdaqCM
Founded: 1989
CA$144,917,139
56,250,419
Website: http://www.villagefarms.com
Address: Village Farms International, Inc.
4700-80th Street,
Delta,
British Columbia, V4K 3N3,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX VFF Common Shares The Toronto Stock Exchange CA CAD 19. Dec 2003
NasdaqCM VFF Common Shares Nasdaq Capital Market US USD 19. Dec 2003
DB 02V Common Shares Deutsche Boerse AG DE EUR 19. Dec 2003
Number of employees
Current staff
Staff numbers
1,000
Village Farms International employees.
Industry
Agricultural Products
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 02:28
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/04/02
Last earnings filing: 2019/11/14
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.