Vital Farms, Inc. Financials
This page shows Vital Farms, Inc. (VITL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Vital Farms, Inc. has an operating margin of 11.6%, meaning the company retains $12 of operating profit per $100 of revenue. This results in a moderate score of 48/100, indicating healthy but not exceptional operating efficiency. This is up from 10.5% the prior year.
Vital Farms, Inc.'s revenue surged 25.3% year-over-year to $759.4M, reflecting rapid business expansion. This strong growth earns a score of 75/100.
Vital Farms, Inc. carries a low D/E ratio of 0.48, meaning only $0.48 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.
Vital Farms, Inc.'s current ratio of 2.16 indicates adequate short-term liquidity, earning a score of 40/100. The company can meet its near-term obligations, though with limited headroom.
While Vital Farms, Inc. generated $33.7M in operating cash flow, capex of $82.0M consumed most of it, leaving -$48.2M in free cash flow. This results in a low score of 9/100, reflecting heavy capital investment rather than weak cash generation.
Vital Farms, Inc.'s ROE of 18.9% shows moderate profitability relative to equity, earning a score of 53/100. This is down from 19.8% the prior year.
Vital Farms, Inc. scores 4.78, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Vital Farms, Inc. passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Vital Farms, Inc. generates $0.51 in operating cash flow ($33.7M OCF vs $66.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Vital Farms, Inc. earns $101.1 in operating income for every $1 of interest expense ($88.4M vs $874K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Vital Farms, Inc. generated $759.4M in revenue in fiscal year 2025. This represents an increase of 25.3% from the prior year.
Vital Farms, Inc.'s EBITDA was $97.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 34.1% from the prior year.
Vital Farms, Inc. reported $66.3M in net income in fiscal year 2025. This represents an increase of 24.2% from the prior year.
Vital Farms, Inc. earned $1.44 per diluted share (EPS) in fiscal year 2025. This represents an increase of 22.0% from the prior year.
Cash & Balance Sheet
Vital Farms, Inc. generated -$48.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 233.3% from the prior year.
Vital Farms, Inc. held $48.8M in cash against $0 in long-term debt as of fiscal year 2025.
Vital Farms, Inc. had 45M shares outstanding in fiscal year 2025. This represents an increase of 1.7% from the prior year.
Margins & Returns
Vital Farms, Inc.'s gross margin was 37.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.3 percentage points from the prior year.
Vital Farms, Inc.'s operating margin was 11.6% in fiscal year 2025, reflecting core business profitability. This is up 1.2 percentage points from the prior year.
Vital Farms, Inc.'s net profit margin was 8.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.1 percentage points from the prior year.
Vital Farms, Inc.'s ROE was 18.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.9 percentage points from the prior year.
Capital Allocation
Vital Farms, Inc. invested $82.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 186.1% from the prior year.
VITL Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $213.6M+7.3% | $198.9M+7.7% | $184.8M+13.9% | $162.2M-2.3% | $166.0M+14.5% | $145.0M-1.6% | $147.4M-0.4% | $147.9M |
| Cost of Revenue | $137.1M+10.6% | $124.0M+9.7% | $113.0M+13.4% | $99.7M-6.1% | $106.1M+15.9% | $91.5M+2.0% | $89.7M+0.8% | $89.0M |
| Gross Profit | $76.4M+2.0% | $75.0M+4.4% | $71.8M+14.8% | $62.5M+4.4% | $59.9M+12.0% | $53.5M-7.3% | $57.7M-2.1% | $58.9M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $44.1M-0.6% | $44.4M+13.9% | $39.0M+22.2% | $31.9M-14.6% | $37.4M+3.5% | $36.1M+8.3% | $33.3M+22.9% | $27.1M |
| Operating Income | $21.4M+0.1% | $21.4M-10.1% | $23.8M+9.3% | $21.8M+67.4% | $13.0M+40.7% | $9.2M-46.1% | $17.1M-29.1% | $24.2M |
| Interest Expense | $209K-1.9% | $213K-2.3% | $218K-6.8% | $234K-2.1% | $239K-7.7% | $259K+0.8% | $257K+0.8% | $255K |
| Income Tax | $6.1M+9.9% | $5.5M-29.7% | $7.9M+45.1% | $5.4M+45.5% | $3.7M+27.4% | $2.9M+65.7% | $1.8M-68.9% | $5.7M |
| Net Income | $16.3M-0.6% | $16.4M-1.3% | $16.6M-1.6% | $16.9M+59.7% | $10.6M+42.1% | $7.4M-54.4% | $16.3M-14.1% | $19.0M |
| EPS (Diluted) | N/A | $0.360.0% | $0.36-2.7% | $0.37 | N/A | $0.16-55.6% | $0.36-16.3% | $0.43 |
VITL Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $518.7M+7.7% | $481.5M+11.8% | $430.8M+14.3% | $376.9M+4.9% | $359.3M+4.3% | $344.7M+7.5% | $320.5M+6.8% | $300.2M |
| Current Assets | $262.6M-3.5% | $272.0M-1.2% | $275.2M+5.9% | $259.8M+5.6% | $246.0M-2.2% | $251.6M+7.4% | $234.2M+7.4% | $218.2M |
| Cash & Equivalents | $48.8M-47.9% | $93.8M-13.3% | $108.2M-30.8% | $156.3M+3.8% | $150.6M+0.7% | $149.5M+12.3% | $133.2M+17.0% | $113.8M |
| Inventory | $66.5M+28.3% | $51.8M+21.3% | $42.7M+23.7% | $34.5M+45.9% | $23.7M-29.1% | $33.4M+6.2% | $31.4M+2.1% | $30.8M |
| Accounts Receivable | $67.8M+16.5% | $58.3M-14.8% | $68.4M+31.9% | $51.9M-4.5% | $54.3M+13.8% | $47.8M+11.4% | $42.9M-1.8% | $43.6M |
| Goodwill | $3.9M0.0% | $3.9M0.0% | $3.9M0.0% | $3.9M0.0% | $3.9M0.0% | $3.9M0.0% | $3.9M | N/A |
| Total Liabilities | $167.5M+11.4% | $150.3M+24.2% | $121.0M+37.5% | $88.0M-2.3% | $90.0M-1.4% | $91.3M+11.3% | $82.1M-5.5% | $86.9M |
| Current Liabilities | $121.6M+18.5% | $102.6M-7.4% | $110.8M+43.0% | $77.5M-1.3% | $78.5M+1.0% | $77.7M+16.1% | $67.0M-4.8% | $70.4M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $351.3M+6.1% | $331.2M+6.9% | $309.8M+7.2% | $288.9M+7.3% | $269.3M+6.3% | $253.4M+6.3% | $238.4M+11.8% | $213.3M |
| Retained Earnings | $149.4M+12.3% | $133.1M+14.1% | $116.7M+16.6% | $100.0M+20.3% | $83.1M+14.6% | $72.5M+11.4% | $65.1M+33.5% | $48.7M |
VITL Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.8M-75.3% | $23.4M+3177.8% | -$761K-114.4% | $5.3M-64.3% | $14.8M+48.4% | $10.0M-38.3% | $16.1M-32.6% | $23.9M |
| Capital Expenditures | $37.9M+11.4% | $34.0M+395.6% | $6.9M+119.6% | $3.1M-82.8% | $18.2M+409.1% | $3.6M-36.2% | $5.6M+322.2% | $1.3M |
| Free Cash Flow | -$32.1M-203.0% | -$10.6M-39.1% | -$7.6M-455.3% | $2.1M+163.5% | -$3.4M-152.9% | $6.4M-39.4% | $10.5M-53.4% | $22.6M |
| Investing Cash Flow | -$49.9M-29.9% | -$38.4M+19.1% | -$47.5M-3069.2% | $1.6M+110.4% | -$15.4M-691.1% | $2.6M+304.2% | -$1.3M-118.1% | $7.0M |
| Financing Cash Flow | -$829K-243.2% | $579K+209.6% | $187K+116.0% | -$1.2M-170.2% | $1.7M-56.1% | $3.8M-15.5% | $4.5M+444.4% | -$1.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
VITL Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.8%-1.9pp | 37.7%-1.2pp | 38.9%+0.3pp | 38.5%+2.5pp | 36.1%-0.8pp | 36.9%-2.2pp | 39.1%-0.7pp | 39.8% |
| Operating Margin | 10.0%-0.7pp | 10.8%-2.1pp | 12.9%-0.5pp | 13.4%+5.6pp | 7.8%+1.5pp | 6.4%-5.3pp | 11.6%-4.7pp | 16.3% |
| Net Margin | 7.6%-0.6pp | 8.3%-0.7pp | 9.0%-1.4pp | 10.4%+4.0pp | 6.4%+1.2pp | 5.1%-5.9pp | 11.1%-1.8pp | 12.9% |
| Return on Equity | 4.7%-0.3pp | 5.0%-0.4pp | 5.4%-0.5pp | 5.9%+1.9pp | 3.9%+1.0pp | 2.9%-3.9pp | 6.9%-2.1pp | 8.9% |
| Return on Assets | 3.1%-0.3pp | 3.4%-0.5pp | 3.9%-0.6pp | 4.5%+1.5pp | 2.9%+0.8pp | 2.2%-2.9pp | 5.1%-1.2pp | 6.3% |
| Current Ratio | 2.16-0.5 | 2.65+0.2 | 2.48-0.9 | 3.35+0.2 | 3.13-0.1 | 3.24-0.3 | 3.50+0.4 | 3.10 |
| Debt-to-Equity | 0.48+0.0 | 0.45+0.1 | 0.39+0.1 | 0.30-0.0 | 0.33-0.0 | 0.36+0.0 | 0.34-0.1 | 0.41 |
| FCF Margin | -15.0%-9.7pp | -5.3%-1.2pp | -4.1%-5.5pp | 1.3%+3.4pp | -2.0%-6.5pp | 4.4%-2.7pp | 7.1%-8.1pp | 15.3% |
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Frequently Asked Questions
What is Vital Farms, Inc.'s annual revenue?
Vital Farms, Inc. (VITL) reported $759.4M in total revenue for fiscal year 2025. This represents a 25.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Vital Farms, Inc.'s revenue growing?
Vital Farms, Inc. (VITL) revenue grew by 25.3% year-over-year, from $606.3M to $759.4M in fiscal year 2025.
Is Vital Farms, Inc. profitable?
Yes, Vital Farms, Inc. (VITL) reported a net income of $66.3M in fiscal year 2025, with a net profit margin of 8.7%.
What is Vital Farms, Inc.'s EBITDA?
Vital Farms, Inc. (VITL) had EBITDA of $97.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Vital Farms, Inc.'s gross margin?
Vital Farms, Inc. (VITL) had a gross margin of 37.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Vital Farms, Inc.'s operating margin?
Vital Farms, Inc. (VITL) had an operating margin of 11.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Vital Farms, Inc.'s net profit margin?
Vital Farms, Inc. (VITL) had a net profit margin of 8.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Vital Farms, Inc.'s return on equity (ROE)?
Vital Farms, Inc. (VITL) has a return on equity of 18.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Vital Farms, Inc.'s free cash flow?
Vital Farms, Inc. (VITL) generated -$48.2M in free cash flow during fiscal year 2025. This represents a -233.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Vital Farms, Inc.'s operating cash flow?
Vital Farms, Inc. (VITL) generated $33.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Vital Farms, Inc.'s total assets?
Vital Farms, Inc. (VITL) had $518.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Vital Farms, Inc.'s capital expenditures?
Vital Farms, Inc. (VITL) invested $82.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Vital Farms, Inc.'s current ratio?
Vital Farms, Inc. (VITL) had a current ratio of 2.16 as of fiscal year 2025, which is generally considered healthy.
What is Vital Farms, Inc.'s debt-to-equity ratio?
Vital Farms, Inc. (VITL) had a debt-to-equity ratio of 0.48 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Vital Farms, Inc.'s return on assets (ROA)?
Vital Farms, Inc. (VITL) had a return on assets of 12.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Vital Farms, Inc.'s Altman Z-Score?
Vital Farms, Inc. (VITL) has an Altman Z-Score of 4.78, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Vital Farms, Inc.'s Piotroski F-Score?
Vital Farms, Inc. (VITL) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Vital Farms, Inc.'s earnings high quality?
Vital Farms, Inc. (VITL) has an earnings quality ratio of 0.51x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Vital Farms, Inc. cover its interest payments?
Vital Farms, Inc. (VITL) has an interest coverage ratio of 101.1x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Vital Farms, Inc.?
Vital Farms, Inc. (VITL) scores 53 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.