AVO Consumer Defensive

Mission Produce, Inc.

$10.98-4.27%

Price as of close on Nov 3, 2026 · Financials updated Oct 6, 2026

Basics

Sector: Consumer Defensive
Industry: Food Distribution
Country: United States
Market cap: 962.7M USD
Enterprise value: 1.4B USD
Full-time employees: 3,800

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
About average: risk (debt, liquidity and share-price swings)risk

Ranks #644 of 761 consumer defensive companies (bottom 16%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.
Mission Produce reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.
Shareholders being diluted. Shares outstanding up 24% from October 2022 to September 2026.
Mission Produce had 24% more shares at September 2026 than at October 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Mission Produce had 24% more shares at September 2026 than at October 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Stock pay outran buybacks. Stock-based pay expense $20M vs $7M spent repurchasing shares over the 3 fiscal years to FY Oct 2025.
Over three fiscal years Mission Produce recorded $20M of stock-based pay expense and spent $7M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Mission Produce recorded $20M of stock-based pay expense and spent $7M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Revenue is falling. Revenue fell 6.2% in the 12 months to July 2026 vs the 12 months before.
Mission Produce's revenue fell 6.2% in the 12 months to July 2026 vs the 12 months before.

StockQuotient Score

29/ 100

Oct 5 28 → Nov 4 29 (+1)

Valuation

Is the price right?

17/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ FCF yield
▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield0.2%

SEC filings · 12 months to Jul 2026Reported value30% base weight · Z-score -1.45Sector median: 0.0453 · MAD: 0.0301

EBITDA yield4.9%

SEC filings · 12 months to Jul 2026Reported value50% base weight · Z-score -0.86Sector median: 0.0865 · MAD: 0.0435

Free cash flow yield-0.2%

SEC filings · 12 months to Jul 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.41Sector median: 0.0622 · MAD: 0.0441

Other data (not scored)

Book yield79.4%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5381 · MAD: 0.2865

Growth

Is it growing?

27/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 7.4%

Why

Weaker than most peers on:

▼ EPS growth
▼ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-96.7%

SEC filings · 12 months to Jul 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -2.72Sector median: 0.0154 · MAD: 0.2529

3-year revenue growth12.7%

SEC filings · 3 years to Jul 2026Reported value33% base weight · Z-score 1.93Sector median: 0.0366 · MAD: 0.0470

Revenue growth-6.2%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -1.53Sector median: 0.0278 · MAD: 0.0585

Profitability

Does it earn well?

18/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Free cash flow turned negative over the last 12 months

Why

Weaker than most peers on:

▼ ROA
▼ Operating margin
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin1.8%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -1.14Sector median: 0.0759 · MAD: 0.0508

Return on assets0.1%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -1.47Sector median: 0.0396 · MAD: 0.0262

Return on invested capital1.7%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -0.89Sector median: 0.0766 · MAD: 0.0673

Other data (not scored)

Gross margin11.4%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.3182 · MAD: 0.1263

Return on equity0.2%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.0831 · MAD: 0.0675

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: Changed: worth a look

Debt up 237%

Why it changed since the Oct 27, 2026 close: Safety percentile 53 → 52

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Helped by:

▲ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.43

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.17Sector median: 0.4070 · MAD: 0.1690

Current ratio1.92×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.61Sector median: 1.5250 · MAD: 0.6460

Debt / equity0.52×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.28Sector median: 0.4234 · MAD: 0.3581

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Mission Produce

Is Mission Produce getting weaker?: Its latest SEC filing (Sep 8, 2026) got weaker in some ways: debt up 237%; free cash flow turned negative over the last 12 months. Its overall score is unchanged at 29/100 since Oct 28, 2026.
How is Mission Produce valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 17/100 against 823 consumer defensive peers. Free cash flow yield -0.2% vs a peer median of 6.2% (weaker than 100% of peers).Free cash flow yield -0.2% vs peers 6.2% (weaker than 100% of peers).
Is Mission Produce growing?: More slowly than most of its peers. Growth scores 27/100 against 823 consumer defensive peers. 3-year revenue growth 12.7% vs a peer median of 3.7% (stronger than 85% of peers).3-year revenue growth 12.7% vs peers 3.7% (stronger than 85% of peers). Earnings per share growth -96.7% vs a peer median of 1.5% (weaker than 100% of peers).Earnings per share growth -96.7% vs peers 1.5% (weaker than 100% of peers).
How profitable is Mission Produce?: Less profitable than most of its peers. Profitability scores 18/100 against 823 consumer defensive peers. Return on assets 0.1% vs a peer median of 4.0% (weaker than 83% of peers).Return on assets 0.1% vs peers 4.0% (weaker than 83% of peers).
How risky is Mission Produce?: Moderate risk relative to 823 consumer defensive peers, judged on debt, liquidity and share-price swings. Current ratio 1.92× vs a peer median of 1.52× (stronger than 63% of peers).Current ratio 1.92× vs peers 1.52× (stronger than 63% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jul 31, 2026 · filed Sep 8, 2026 · compared with the quarter ended Apr 30, 2026

Got weaker

Debt up 237%
Free cash flow turned negative over the last 12 months

Worth watching: Mission Produce is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	1.2B USD	1.3B USD	+7.4%
Net income (12 months)	22.8M USD	1.6M USD	−93.0%
Operating margin	3.6%	1.8%	−1.8 pts
Free cash flow (12 months)	34.3M USD	−2.3M USD	turned negative
Debt	118.8M USD	400.4M USD	+237.0%
Cash	33.0M USD	47.1M USD	+42.7%
Shares outstanding	88.3M	87.7M	−0.7%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Consumer Defensive · 91 companies

Valuations in Consumer Defensive are within their usual range since 2016.

30% of months since 2016 were valued lower than now.
18% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −4% and earnings +7% (medians): prices and earnings moved broadly together.
Median price-to-sales is −58% vs the whole market, against a usual −39%.

2016Shaded: most expensive fifth of its range2026

Shown for Consumer Defensive: too few Food Distribution companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Oct 2021	FY Oct 2022	FY Oct 2023	FY Oct 2024	FY Oct 2025	Change
Gross margin	14.0%	8.6%	8.7%	12.4%	11.6%	▼ 0.8 pts
Operating margin	6.8%	-3.6%	0.7%	5.3%	4.7%	▼ 0.6 pts
Net margin	5.0%	-3.3%	-0.3%	3.0%	2.7%	▼ 0.3 pts
Return on assets (ROA)	5.1%	-3.9%	-0.3%	3.8%	3.8%	▲ 0.1 pts
Return on equity (ROE)	8.4%	-6.9%	-0.6%	6.7%	6.4%	▼ 0.3 pts
Free cash flow margin	-3.0%	-2.5%	-2.2%	5.0%	2.7%	▼ 2.3 pts
Current ratio	2.77×	2.24×	2.26×	1.87×	1.95×	▲ 4.2%
Quick ratio	2.23×	1.52×	1.53×	1.26×	1.35×	▲ 7.2%
Debt to equity	0.31×	0.28×	0.31×	0.21×	0.17×	▼ 20%
Interest coverage	16.46×	-6.76×	0.59×	5.21×	6.94×	▲ 33%

AVO price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

About average: risk (debt, liquidity and share-price swings)risk

Ranks #644 of 761 consumer defensive companies (bottom 16%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.

Mission Produce reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.

Shareholders being diluted. Shares outstanding up 24% from October 2022 to September 2026.

Mission Produce had 24% more shares at September 2026 than at October 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Mission Produce had 24% more shares at September 2026 than at October 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Stock pay outran buybacks. Stock-based pay expense $20M vs $7M spent repurchasing shares over the 3 fiscal years to FY Oct 2025.

Over three fiscal years Mission Produce recorded $20M of stock-based pay expense and spent $7M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Mission Produce recorded $20M of stock-based pay expense and spent $7M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

Revenue is falling. Revenue fell 6.2% in the 12 months to July 2026 vs the 12 months before.

Mission Produce's revenue fell 6.2% in the 12 months to July 2026 vs the 12 months before.

Questions investors ask about Mission Produce

Is Mission Produce getting weaker?

Its latest SEC filing (Sep 8, 2026) got weaker in some ways: debt up 237%; free cash flow turned negative over the last 12 months. Its overall score is unchanged at 29/100 since Oct 28, 2026.

How is Mission Produce valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 17/100 against 823 consumer defensive peers. Free cash flow yield -0.2% vs a peer median of 6.2% (weaker than 100% of peers).Free cash flow yield -0.2% vs peers 6.2% (weaker than 100% of peers).

Is Mission Produce growing?

More slowly than most of its peers. Growth scores 27/100 against 823 consumer defensive peers. 3-year revenue growth 12.7% vs a peer median of 3.7% (stronger than 85% of peers).3-year revenue growth 12.7% vs peers 3.7% (stronger than 85% of peers). Earnings per share growth -96.7% vs a peer median of 1.5% (weaker than 100% of peers).Earnings per share growth -96.7% vs peers 1.5% (weaker than 100% of peers).

How profitable is Mission Produce?

Less profitable than most of its peers. Profitability scores 18/100 against 823 consumer defensive peers. Return on assets 0.1% vs a peer median of 4.0% (weaker than 83% of peers).Return on assets 0.1% vs peers 4.0% (weaker than 83% of peers).

How risky is Mission Produce?

Moderate risk relative to 823 consumer defensive peers, judged on debt, liquidity and share-price swings. Current ratio 1.92× vs a peer median of 1.52× (stronger than 63% of peers).Current ratio 1.92× vs peers 1.52× (stronger than 63% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

1.2B USD

1.3B USD

+7.4%

Net income (12 months)

22.8M USD

1.6M USD

−93.0%

Operating margin

3.6%

1.8%

−1.8 pts

Free cash flow (12 months)

34.3M USD

−2.3M USD

turned negative

Debt

118.8M USD

400.4M USD

+237.0%

Cash

33.0M USD

47.1M USD

+42.7%

Shares outstanding

88.3M

87.7M

−0.7%

Key ratios

FY Oct 2021

FY Oct 2022

FY Oct 2023

FY Oct 2024

FY Oct 2025

Change

Gross margin

14.0%

8.6%

8.7%

12.4%

11.6%

▼ 0.8 pts

Operating margin

6.8%

-3.6%

0.7%

5.3%

4.7%

▼ 0.6 pts

Net margin

5.0%

-3.3%

-0.3%

3.0%

2.7%

▼ 0.3 pts

Return on assets (ROA)

5.1%

-3.9%

-0.3%

3.8%

▲ 0.1 pts

Return on equity (ROE)

8.4%

-6.9%

-0.6%

6.7%

6.4%

▼ 0.3 pts

Free cash flow margin

-3.0%

-2.5%

-2.2%

5.0%

2.7%

▼ 2.3 pts

Current ratio

2.77×

2.24×

2.26×

1.87×

1.95×

▲ 4.2%

Quick ratio

2.23×

1.52×

1.53×

1.26×

1.35×

▲ 7.2%

Debt to equity

0.31×

0.28×

0.31×

0.21×

0.17×

▼ 20%

Interest coverage

16.46×

-6.76×

0.59×

5.21×

6.94×

▲ 33%