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Side-by-side financial comparison of Ares Commercial Real Estate Corp (ACRE) and Village Farms International, Inc. (VFF). Click either name above to swap in a different company.
Ares Commercial Real Estate Corp is the larger business by last-quarter revenue ($13.2M vs $12.2M, roughly 1.1× Village Farms International, Inc.). Village Farms International, Inc. runs the higher net margin — 19.9% vs -29.2%, a 49.1% gap on every dollar of revenue. On growth, Village Farms International, Inc. posted the faster year-over-year revenue change (31.5% vs -24.5%).
Ares Commercial Real Estate Corp is a specialty finance company focused on the commercial real estate sector. It offers a full suite of customized financing solutions including senior mortgage loans, subordinated debt and preferred equity, primarily serving middle-market commercial property owners and operators across the United States.
Grafton Village Cheese Company is a cheesemaker in the town of Grafton in the U.S. state of Vermont. The company produces hand-crafted aged cheddar cheese.
ACRE vs VFF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.2M | $12.2M |
| Net Profit | $-3.9M | $2.4M |
| Gross Margin | — | — |
| Operating Margin | -29.2% | — |
| Net Margin | -29.2% | 19.9% |
| Revenue YoY | -24.5% | 31.5% |
| Net Profit YoY | 63.8% | 128.2% |
| EPS (diluted) | — | $0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $13.2M | $12.2M | ||
| Q3 25 | $14.1M | $66.7M | ||
| Q2 25 | $12.6M | $59.9M | ||
| Q1 25 | $14.9M | $77.1M | ||
| Q4 24 | $17.5M | — | ||
| Q3 24 | $16.7M | $54.9M | ||
| Q2 24 | $16.8M | $53.6M | ||
| Q1 24 | $18.7M | $78.1M |
| Q4 25 | $-3.9M | $2.4M | ||
| Q3 25 | $4.7M | $10.2M | ||
| Q2 25 | $-11.0M | $26.5M | ||
| Q1 25 | $9.3M | $-6.7M | ||
| Q4 24 | $-10.7M | — | ||
| Q3 24 | $-5.9M | $-820.0K | ||
| Q2 24 | $-6.1M | $-23.5M | ||
| Q1 24 | $-12.3M | $-2.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | 47.9% | ||
| Q2 25 | — | 37.3% | ||
| Q1 25 | — | 14.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 24.8% | ||
| Q2 24 | — | 25.4% | ||
| Q1 24 | — | 19.9% |
| Q4 25 | -29.2% | — | ||
| Q3 25 | 33.0% | 23.3% | ||
| Q2 25 | -87.8% | 20.8% | ||
| Q1 25 | 64.4% | -8.0% | ||
| Q4 24 | -61.0% | — | ||
| Q3 24 | -35.3% | 3.8% | ||
| Q2 24 | -36.5% | -43.5% | ||
| Q1 24 | -65.9% | -3.0% |
| Q4 25 | -29.2% | 19.9% | ||
| Q3 25 | 33.0% | 15.3% | ||
| Q2 25 | -87.8% | 44.2% | ||
| Q1 25 | 62.5% | -8.7% | ||
| Q4 24 | -60.9% | — | ||
| Q3 24 | -35.3% | -1.5% | ||
| Q2 24 | -36.5% | -43.9% | ||
| Q1 24 | -65.9% | -3.7% |
| Q4 25 | — | $0.01 | ||
| Q3 25 | — | $0.08 | ||
| Q2 25 | — | $0.24 | ||
| Q1 25 | — | $-0.06 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-0.01 | ||
| Q2 24 | — | $-0.21 | ||
| Q1 24 | — | $-0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $29.3M | $81.2M |
| Total DebtLower is stronger | $948.2M | $33.7M |
| Stockholders' EquityBook value | $509.6M | $299.9M |
| Total Assets | $1.6B | $423.1M |
| Debt / EquityLower = less leverage | 1.86× | 0.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.3M | $81.2M | ||
| Q3 25 | $84.9M | $82.6M | ||
| Q2 25 | $90.0M | $60.0M | ||
| Q1 25 | $125.5M | $15.1M | ||
| Q4 24 | $63.8M | — | ||
| Q3 24 | $68.9M | $28.7M | ||
| Q2 24 | $70.6M | $29.7M | ||
| Q1 24 | $99.5M | $26.7M |
| Q4 25 | $948.2M | $33.7M | ||
| Q3 25 | — | $34.6M | ||
| Q2 25 | — | $39.1M | ||
| Q1 25 | — | $39.2M | ||
| Q4 24 | $718.5M | — | ||
| Q3 24 | — | $43.3M | ||
| Q2 24 | — | $44.4M | ||
| Q1 24 | — | $46.1M |
| Q4 25 | $509.6M | $299.9M | ||
| Q3 25 | $521.0M | $295.4M | ||
| Q2 25 | $523.7M | $284.3M | ||
| Q1 25 | $542.1M | $248.3M | ||
| Q4 24 | $540.1M | — | ||
| Q3 24 | $563.8M | $274.4M | ||
| Q2 24 | $582.3M | $275.2M | ||
| Q1 24 | $601.1M | $296.2M |
| Q4 25 | $1.6B | $423.1M | ||
| Q3 25 | $1.4B | $418.4M | ||
| Q2 25 | $1.4B | $403.7M | ||
| Q1 25 | $1.5B | $377.1M | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.9B | $417.8M | ||
| Q2 24 | $2.1B | $425.4M | ||
| Q1 24 | $2.1B | $458.4M |
| Q4 25 | 1.86× | 0.11× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.14× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | 1.33× | — | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.16× | ||
| Q1 24 | — | 0.16× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $21.4M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 90.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.4M | — | ||
| Q3 25 | $3.8M | $24.4M | ||
| Q2 25 | $4.9M | — | ||
| Q1 25 | $8.0M | $-6.4M | ||
| Q4 24 | $35.5M | — | ||
| Q3 24 | $8.4M | $4.3M | ||
| Q2 24 | $8.7M | $5.7M | ||
| Q1 24 | $11.4M | $-50.0K |
| Q4 25 | — | — | ||
| Q3 25 | — | $22.6M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-8.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.5M | ||
| Q2 24 | — | $4.8M | ||
| Q1 24 | — | $-1.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | 33.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -11.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 9.0% | ||
| Q1 24 | — | -2.5% |
| Q4 25 | — | 90.8% | ||
| Q3 25 | — | 2.7% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | — | 3.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 5.1% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | 2.4% |
| Q4 25 | — | — | ||
| Q3 25 | 0.82× | 2.39× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ACRE
Segment breakdown not available.
VFF
| International Sales | $8.7M | 71% |
| Cannabis United States Segment | $3.4M | 27% |
