VITL Consumer Defensive

Vital Farms, Inc.

$10.02+9.15%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Consumer Defensive
Industry: Farm Products
Country: United States
Market cap: 430.2M USD
Enterprise value: 369.4M USD
Full-time employees: 739

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.05 vs a peer median of 0.41) and less short-term liquidity (current ratio 1.10 vs a peer median of 1.52)higher risk: bigger price swings (beta 1.05 vs peers 0.41) and less liquidity (current ratio 1.10 vs peers 1.52)

Ranks #623 of 761 consumer defensive companies (bottom 19%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.
Vital Farms 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.
Investment surge. Capital spending 11% of revenue, up from 2.9% in 2022.
Vital Farms is spending 11% of revenue on facilities and equipment, up from 2.9% in 2022. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $214M in 2020 to $759M in 2025.
Vital Farms's fiscal-year revenue rose in each of the five years to 2025, from $214M to $759M.
Fast revenue growth. Revenue grew 16% in the 12 months to June 2026 vs the 12 months before, faster than 89% of peers.
Revenue grew 16% in the 12 months to June 2026 vs the 12 months before, faster than 89% of its peers.

StockQuotient Score

32/ 100

Oct 5 32 → Nov 4 32

Valuation

Is the price right?

12/100

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
▼ EBITDA yield
▼ Earnings yield

Compare with peers

Behind the score

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

Earnings yield0.0%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -1.50Sector median: 0.0453 · MAD: 0.0301

EBITDA yield2.3%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -1.46Sector median: 0.0865 · MAD: 0.0435

Free cash flow yield-29.3%

SEC filings · 12 months to Jun 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 yield65.9%

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

Growth

Is it growing?

79/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

12-month revenue fell 2.4%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ 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-99.7%

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

3-year revenue growth21.4%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 3.78Sector median: 0.0366 · MAD: 0.0470

Revenue growth16.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.32Sector median: 0.0278 · MAD: 0.0585

Profitability

Does it earn well?

16/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Operating margin fell 8.2 points to 0.0%

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA
▼ ROIC

Compare with peers

Behind the score

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

Operating margin0.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.49Sector median: 0.0759 · MAD: 0.0508

Return on assets0.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.50Sector median: 0.0396 · MAD: 0.0262

Return on invested capital0.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.12Sector median: 0.0766 · MAD: 0.0673

Other data (not scored)

Gross margin28.1%

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

Return on equity0.1%

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

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Operating profit now covers interest only 0.3x

Why

Weaker than most peers on:

▼ Beta
▼ 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.

Beta1.05

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -3.79Sector median: 0.4070 · MAD: 0.1690

Current ratio1.10×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.65Sector median: 1.5250 · MAD: 0.6460

Debt / equity0.11×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.89Sector 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 Vital Farms

Is Vital Farms getting weaker?: Its latest SEC filing (Aug 6, 2026) got weaker in some ways: operating margin fell 8.2 points to 0.0%; 12-month revenue fell 2.4%. Its overall score is unchanged at 32/100 since Oct 28, 2026.
How is Vital Farms valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 12/100 against 823 consumer defensive peers. Free cash flow yield -29.3% vs a peer median of 6.2% (weaker than 100% of peers).Free cash flow yield -29.3% vs peers 6.2% (weaker than 100% of peers).
Is Vital Farms growing?: Yes, faster than most of its peers. Growth scores 79/100 against 823 consumer defensive peers. 3-year revenue growth 21.4% vs a peer median of 3.7% (stronger than 94% of peers).3-year revenue growth 21.4% vs peers 3.7% (stronger than 94% of peers). Earnings per share growth -99.7% vs a peer median of 1.5% (weaker than 100% of peers).Earnings per share growth -99.7% vs peers 1.5% (weaker than 100% of peers).
How profitable is Vital Farms?: Less profitable than most of its peers. Profitability scores 16/100 against 823 consumer defensive peers. Operating margin 0.0% vs a peer median of 7.6% (weaker than 87% of peers).Operating margin 0.0% vs peers 7.6% (weaker than 87% of peers).
How risky is Vital Farms?: Higher risk relative to 823 consumer defensive peers, judged on debt, liquidity and share-price swings. Debt / equity 0.11× vs a peer median of 0.42× (stronger than 76% of peers).Debt / equity 0.11× vs peers 0.42× (stronger than 76% of peers). Beta 1.05 vs a peer median of 0.41 (weaker than 94% of peers).Beta 1.05 vs peers 0.41 (weaker than 94% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 28, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 29, 2026

Got weaker

Operating margin fell 8.2 points to 0.0%
12-month revenue fell 2.4%
Operating profit now covers interest only 0.3x

Worth watching: Vital Farms 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)	784.4M USD	765.7M USD	−2.4%
Net income (12 months)	47.9M USD	154,000 USD	−99.7%
Operating margin	8.2%	0.0%	−8.2 pts
Free cash flow (12 months)	−89.7M USD	−126.1M USD	+40.6%
Cash	36.6M USD	21.2M USD	−42.0%
Shares outstanding	42.8M	42.9M	+0.2%

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 Farm Products companies have a long enough history of their own.

Financials

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

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	31.8%	30.2%	34.4%	37.9%	37.6%	▼ 0.3 pts
Operating margin	0.0%	0.6%	7.0%	10.5%	11.6%	▲ 1.2 pts
Net margin	0.9%	0.3%	5.4%	8.8%	8.7%	▼ 0.1 pts
Return on assets (ROA)	1.3%	0.6%	9.3%	14.9%	12.8%	▼ 2.1 pts
Return on equity (ROE)	1.6%	0.8%	13.3%	19.8%	18.9%	▼ 1.0 pts
Free cash flow margin	0.4%	-5.1%	8.3%	6.0%	-6.4%	▼ 12 pts
Current ratio	3.72×	3.14×	3.00×	3.13×	2.16×	▼ 31%
Quick ratio	3.43×	2.58×	2.49×	2.83×	1.61×	▼ 43%
Debt to equity	—	—	—	—	—	—
Interest coverage	1.00×	18.46×	42.52×	62.92×	101.11×	▲ 61%

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

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.05 vs a peer median of 0.41) and less short-term liquidity (current ratio 1.10 vs a peer median of 1.52)higher risk: bigger price swings (beta 1.05 vs peers 0.41) and less liquidity (current ratio 1.10 vs peers 1.52)

Ranks #623 of 761 consumer defensive companies (bottom 19%)

See how it ranks against its peers

Worth knowing

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

Vital Farms 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.

Investment surge. Capital spending 11% of revenue, up from 2.9% in 2022.

Vital Farms is spending 11% of revenue on facilities and equipment, up from 2.9% in 2022. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $214M in 2020 to $759M in 2025.

Vital Farms's fiscal-year revenue rose in each of the five years to 2025, from $214M to $759M.

Fast revenue growth. Revenue grew 16% in the 12 months to June 2026 vs the 12 months before, faster than 89% of peers.

Revenue grew 16% in the 12 months to June 2026 vs the 12 months before, faster than 89% of its peers.

Questions investors ask about Vital Farms

Is Vital Farms getting weaker?

Its latest SEC filing (Aug 6, 2026) got weaker in some ways: operating margin fell 8.2 points to 0.0%; 12-month revenue fell 2.4%. Its overall score is unchanged at 32/100 since Oct 28, 2026.

How is Vital Farms valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 12/100 against 823 consumer defensive peers. Free cash flow yield -29.3% vs a peer median of 6.2% (weaker than 100% of peers).Free cash flow yield -29.3% vs peers 6.2% (weaker than 100% of peers).

Is Vital Farms growing?

Yes, faster than most of its peers. Growth scores 79/100 against 823 consumer defensive peers. 3-year revenue growth 21.4% vs a peer median of 3.7% (stronger than 94% of peers).3-year revenue growth 21.4% vs peers 3.7% (stronger than 94% of peers). Earnings per share growth -99.7% vs a peer median of 1.5% (weaker than 100% of peers).Earnings per share growth -99.7% vs peers 1.5% (weaker than 100% of peers).

How profitable is Vital Farms?

Less profitable than most of its peers. Profitability scores 16/100 against 823 consumer defensive peers. Operating margin 0.0% vs a peer median of 7.6% (weaker than 87% of peers).Operating margin 0.0% vs peers 7.6% (weaker than 87% of peers).

How risky is Vital Farms?

Higher risk relative to 823 consumer defensive peers, judged on debt, liquidity and share-price swings. Debt / equity 0.11× vs a peer median of 0.42× (stronger than 76% of peers).Debt / equity 0.11× vs peers 0.42× (stronger than 76% of peers). Beta 1.05 vs a peer median of 0.41 (weaker than 94% of peers).Beta 1.05 vs peers 0.41 (weaker than 94% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

784.4M USD

765.7M USD

−2.4%

Net income (12 months)

47.9M USD

154,000 USD

−99.7%

Operating margin

8.2%

0.0%

−8.2 pts

Free cash flow (12 months)

−89.7M USD

−126.1M USD

+40.6%

Cash

36.6M USD

21.2M USD

−42.0%

Shares outstanding

42.8M

42.9M

+0.2%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

31.8%

30.2%

34.4%

37.9%

37.6%

▼ 0.3 pts

Operating margin

0.0%

0.6%

7.0%

10.5%

11.6%

▲ 1.2 pts

Net margin

0.9%

0.3%

5.4%

8.8%

8.7%

▼ 0.1 pts

Return on assets (ROA)

1.3%

0.6%

9.3%

14.9%

12.8%

▼ 2.1 pts

Return on equity (ROE)

1.6%

0.8%

13.3%

19.8%

18.9%

▼ 1.0 pts

Free cash flow margin

0.4%

-5.1%

8.3%

6.0%

-6.4%

▼ 12 pts

Current ratio

3.72×

3.14×

3.00×

3.13×

2.16×

▼ 31%

Quick ratio

3.43×

2.58×

2.49×

2.83×

1.61×

▼ 43%

Debt to equity

—

Interest coverage

1.00×

18.46×

42.52×

62.92×

101.11×

▲ 61%