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Side-by-side financial comparison of Emerald Holding, Inc. (EEX) and Vital Farms, Inc. (VITL). Click either name above to swap in a different company.
Vital Farms, Inc. is the larger business by last-quarter revenue ($213.6M vs $132.7M, roughly 1.6× Emerald Holding, Inc.). Vital Farms, Inc. runs the higher net margin — 7.6% vs -22.8%, a 30.4% gap on every dollar of revenue. On growth, Vital Farms, Inc. posted the faster year-over-year revenue change (28.7% vs 24.3%). Emerald Holding, Inc. produced more free cash flow last quarter ($11.7M vs $-32.1M). Over the past eight quarters, Vital Farms, Inc.'s revenue compounded faster (20.2% CAGR vs -0.3%).
TVS Emerald Haven Realty Limited is an Indian real estate development company headquartered in Chennai, Tamil Nadu. A subsidiary of TVS Holdings, it specializes in sustainable residential communities and urban development projects.
Vital Tomosi Dairy Limited is a dairy processing company in Uganda. The company is a joint venture between Vital Capital Fund, "an impact investing fund primarily focused on Sub-Saharan Africa", and "Tomosi Dairy Farms, a Ugandan producer of dairy products".
EEX vs VITL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $132.7M | $213.6M |
| Net Profit | $-30.2M | $16.3M |
| Gross Margin | — | 35.8% |
| Operating Margin | -11.8% | 10.0% |
| Net Margin | -22.8% | 7.6% |
| Revenue YoY | 24.3% | 28.7% |
| Net Profit YoY | -692.2% | 54.3% |
| EPS (diluted) | $-0.15 | $0.35 |
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 | $132.7M | $213.6M | ||
| Q3 25 | $77.5M | $198.9M | ||
| Q2 25 | $105.5M | $184.8M | ||
| Q1 25 | $147.7M | $162.2M | ||
| Q4 24 | $106.8M | $166.0M | ||
| Q3 24 | $72.6M | $145.0M | ||
| Q2 24 | $86.0M | $147.4M | ||
| Q1 24 | $133.4M | $147.9M |
| Q4 25 | $-30.2M | $16.3M | ||
| Q3 25 | $-14.4M | $16.4M | ||
| Q2 25 | $-1.4M | $16.6M | ||
| Q1 25 | $15.3M | $16.9M | ||
| Q4 24 | $5.1M | $10.6M | ||
| Q3 24 | $-11.1M | $7.4M | ||
| Q2 24 | $-2.8M | $16.3M | ||
| Q1 24 | $11.0M | $19.0M |
| Q4 25 | — | 35.8% | ||
| Q3 25 | — | 37.7% | ||
| Q2 25 | — | 38.9% | ||
| Q1 25 | — | 38.5% | ||
| Q4 24 | — | 36.1% | ||
| Q3 24 | — | 36.9% | ||
| Q2 24 | — | 39.1% | ||
| Q1 24 | — | 39.8% |
| Q4 25 | -11.8% | 10.0% | ||
| Q3 25 | -10.1% | 10.8% | ||
| Q2 25 | 9.7% | 12.9% | ||
| Q1 25 | 24.2% | 13.4% | ||
| Q4 24 | 19.5% | 7.8% | ||
| Q3 24 | -6.5% | 6.4% | ||
| Q2 24 | 7.4% | 11.6% | ||
| Q1 24 | 18.2% | 16.3% |
| Q4 25 | -22.8% | 7.6% | ||
| Q3 25 | -18.6% | 8.3% | ||
| Q2 25 | -1.3% | 9.0% | ||
| Q1 25 | 10.4% | 10.4% | ||
| Q4 24 | 4.8% | 6.4% | ||
| Q3 24 | -15.3% | 5.1% | ||
| Q2 24 | -3.3% | 11.1% | ||
| Q1 24 | 8.2% | 12.9% |
| Q4 25 | $-0.15 | $0.35 | ||
| Q3 25 | $-0.07 | $0.36 | ||
| Q2 25 | $-0.01 | $0.36 | ||
| Q1 25 | $0.08 | $0.37 | ||
| Q4 24 | $0.01 | $0.23 | ||
| Q3 24 | $-0.05 | $0.16 | ||
| Q2 24 | $-0.03 | $0.36 | ||
| Q1 24 | $0.00 | $0.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $100.9M | $48.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $338.8M | $351.3M |
| Total Assets | $1.2B | $518.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.9M | $48.8M | ||
| Q3 25 | $95.4M | $93.8M | ||
| Q2 25 | $156.4M | $108.2M | ||
| Q1 25 | $276.8M | $156.3M | ||
| Q4 24 | $194.8M | $150.6M | ||
| Q3 24 | $188.9M | $149.5M | ||
| Q2 24 | $193.2M | $133.2M | ||
| Q1 24 | $186.8M | $113.8M |
| Q4 25 | $338.8M | $351.3M | ||
| Q3 25 | $369.5M | $331.2M | ||
| Q2 25 | $389.4M | $309.8M | ||
| Q1 25 | $392.1M | $288.9M | ||
| Q4 24 | $385.9M | $269.3M | ||
| Q3 24 | $391.1M | $253.4M | ||
| Q2 24 | $407.6M | $238.4M | ||
| Q1 24 | $-90.7M | $213.3M |
| Q4 25 | $1.2B | $518.7M | ||
| Q3 25 | $1.2B | $481.5M | ||
| Q2 25 | $1.2B | $430.8M | ||
| Q1 25 | $1.2B | $376.9M | ||
| Q4 24 | $1.0B | $359.3M | ||
| Q3 24 | $1.1B | $344.7M | ||
| Q2 24 | $1.1B | $320.5M | ||
| Q1 24 | $1.1B | $300.2M |
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 | $12.3M | $5.8M |
| Free Cash FlowOCF − Capex | $11.7M | $-32.1M |
| FCF MarginFCF / Revenue | 8.8% | -15.1% |
| Capex IntensityCapex / Revenue | 0.5% | 17.8% |
| Cash ConversionOCF / Net Profit | — | 0.35× |
| TTM Free Cash FlowTrailing 4 quarters | $41.4M | $-48.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.3M | $5.8M | ||
| Q3 25 | $1.8M | $23.4M | ||
| Q2 25 | $15.9M | $-761.0K | ||
| Q1 25 | $12.6M | $5.3M | ||
| Q4 24 | $20.6M | $14.8M | ||
| Q3 24 | $9.1M | $10.0M | ||
| Q2 24 | $9.8M | $16.1M | ||
| Q1 24 | $7.3M | $23.9M |
| Q4 25 | $11.7M | $-32.1M | ||
| Q3 25 | $1.5M | $-10.6M | ||
| Q2 25 | $15.8M | $-7.6M | ||
| Q1 25 | $12.4M | $2.1M | ||
| Q4 24 | $19.9M | $-3.4M | ||
| Q3 24 | $9.0M | $6.4M | ||
| Q2 24 | $9.6M | $10.5M | ||
| Q1 24 | $7.0M | $22.6M |
| Q4 25 | 8.8% | -15.1% | ||
| Q3 25 | 1.9% | -5.3% | ||
| Q2 25 | 15.0% | -4.1% | ||
| Q1 25 | 8.4% | 1.3% | ||
| Q4 24 | 18.6% | -2.0% | ||
| Q3 24 | 12.4% | 4.4% | ||
| Q2 24 | 11.2% | 7.2% | ||
| Q1 24 | 5.2% | 15.3% |
| Q4 25 | 0.5% | 17.8% | ||
| Q3 25 | 0.4% | 17.1% | ||
| Q2 25 | 0.1% | 3.7% | ||
| Q1 25 | 0.1% | 1.9% | ||
| Q4 24 | 0.7% | 10.9% | ||
| Q3 24 | 0.1% | 2.5% | ||
| Q2 24 | 0.2% | 3.8% | ||
| Q1 24 | 0.2% | 0.9% |
| Q4 25 | — | 0.35× | ||
| Q3 25 | — | 1.43× | ||
| Q2 25 | — | -0.05× | ||
| Q1 25 | 0.82× | 0.31× | ||
| Q4 24 | 4.04× | 1.40× | ||
| Q3 24 | — | 1.34× | ||
| Q2 24 | — | 0.99× | ||
| Q1 24 | 0.66× | 1.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EEX
| Connections Segment | $121.9M | 92% |
| Commerce Segment | $5.5M | 4% |
| Content | $5.3M | 4% |
VITL
| Eggs And Egg Related Products | $205.8M | 96% |
| Butter And Butter Related Products | $7.7M | 4% |
