Where Food Comes From Announces Q3 EPS of 22 Cents, Up from 9 Cents Last Year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2025
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Q3 Revenue Performance: The company reported Q3 revenue of $7.015M, a decrease from $7.107M the previous year, attributed to tariffs and reduced beef verification activity.
Growth in Other Areas: Despite the decline in beef verification, there has been steady growth in new customer acquisitions and increased demand for verification services in pork, dairy, and egg sectors.
Diverse Certification Services: The company has expanded its certification offerings from primarily beef-related services to over 50 standards across various food groups, including non-GMO, Gluten Free, Organic, and Upcycled certifications.
Business Model Resilience: The growth in diverse certification services highlights the strength and resilience of the company's business model amidst market challenges.
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Analyst Views on WFCF
About WFCF
Where Food Comes From, Inc. provides a trusted resource for third-party verification of food production practices in North America. The Company supports approximately 17,500 farmers, ranchers, vineyards, wineries, processors, retailers, distributors, trade associations, consumer brands, chefs and restaurants with a variety of value-added services. The Company’s segments include Verification and Certification and Professional Services. The Verification and Certification Segment offers a range of products and services to maintain identification, traceability, and verification systems. It conducts both on-site and desk audits to verify that claims being made about livestock, food, other high-value specialty crops and agricultural products are accurate. The Professional services include a range of professional consulting, data analysis, reporting and technology solutions that support its verification business and generate incremental revenue specific to the food and agricultural industry.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Where Food Comes From (WFCF) Achieves 38% ROCE Growth Over 5 Years
- ROCE Analysis: Where Food Comes From reports a Return on Capital Employed (ROCE) of 16%, aligning with the industry average, indicating stable profitability on capital investments.
- Significant Growth Trend: Over the past five years, the company's ROCE has increased by 38%, suggesting that for every dollar of capital employed, the earnings generated are on the rise, reflecting improved profitability.
- Enhanced Capital Efficiency: The company has reduced its capital employed by 23%, indicating that Where Food Comes From is achieving higher returns while shrinking its asset base, showcasing improved operational efficiency.
- Stock Price Opportunity: Despite a 15% decline in stock price over the last five years, the ongoing growth in ROCE and enhanced capital efficiency may present a potential buying opportunity for investors, warranting further research.
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WFCF Partners with Pangea to Launch Sustainable Leather Initiative
- Innovative Supply Chain Transparency: WFCF's collaboration with Pangea, Prime Pursuits, and Walmart launches the 'Transparency in Motion' initiative, introducing CARE Certified sustainable leather and marking the first level of traceability in North America.
- Value Addition Opportunity: By becoming CARE Certified, beef producers can enhance the value of their herds while connecting with consumers who increasingly prioritize sustainable practices, thus gaining a competitive edge in the market.
- Industry Transformation Opportunity: This collaboration provides automotive manufacturers with a chance to lead in sustainable sourcing, promoting the joint development of the beef and leather industries, reducing waste, and opening new marketing channels.
- Commitment to Sustainability: WFCF is dedicated to creating value for beef producers through innovation and transparency, driving sustainable development across the supply chain and fostering connections between consumers and ranchers.
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