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Side-by-side financial comparison of Village Farms International, Inc. (VFF) and Zeo Energy Corp. (ZEO). Click either name above to swap in a different company.
Zeo Energy Corp. is the larger business by last-quarter revenue ($18.6M vs $12.2M, roughly 1.5× Village Farms International, Inc.). Village Farms International, Inc. runs the higher net margin — 19.9% vs -10.8%, a 30.7% gap on every dollar of revenue. On growth, Village Farms International, Inc. posted the faster year-over-year revenue change (31.5% vs -0.4%).
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.
VFF vs ZEO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.2M | $18.6M |
| Net Profit | $2.4M | $-2.0M |
| Gross Margin | — | — |
| Operating Margin | — | -11.8% |
| Net Margin | 19.9% | -10.8% |
| Revenue YoY | 31.5% | -0.4% |
| Net Profit YoY | 128.2% | -360.9% |
| 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 | $12.2M | $18.6M | ||
| Q3 25 | $66.7M | $23.9M | ||
| Q2 25 | $59.9M | $18.1M | ||
| Q1 25 | $77.1M | $8.8M | ||
| Q4 24 | — | $18.6M | ||
| Q3 24 | $54.9M | $19.7M | ||
| Q2 24 | $53.6M | $14.8M | ||
| Q1 24 | $78.1M | $20.1M |
| Q4 25 | $2.4M | $-2.0M | ||
| Q3 25 | $10.2M | $-3.2M | ||
| Q2 25 | $26.5M | $-2.4M | ||
| Q1 25 | $-6.7M | $-6.4M | ||
| Q4 24 | — | $-435.3K | ||
| Q3 24 | $-820.0K | $-424.3K | ||
| Q2 24 | $-23.5M | $-277.8K | ||
| Q1 24 | $-2.9M | $-1.5M |
| Q4 25 | — | — | ||
| Q3 25 | 47.9% | 57.9% | ||
| Q2 25 | 37.3% | 59.8% | ||
| Q1 25 | 14.7% | 99.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | 24.8% | 50.2% | ||
| Q2 24 | 25.4% | 52.3% | ||
| Q1 24 | 19.9% | — |
| Q4 25 | — | -11.8% | ||
| Q3 25 | 23.3% | -8.3% | ||
| Q2 25 | 20.8% | -15.8% | ||
| Q1 25 | -8.0% | -153.8% | ||
| Q4 24 | — | -6.0% | ||
| Q3 24 | 3.8% | -15.2% | ||
| Q2 24 | -43.5% | -18.0% | ||
| Q1 24 | -3.0% | -20.1% |
| Q4 25 | 19.9% | -10.8% | ||
| Q3 25 | 15.3% | -13.5% | ||
| Q2 25 | 44.2% | -13.3% | ||
| Q1 25 | -8.7% | -72.4% | ||
| Q4 24 | — | -2.3% | ||
| Q3 24 | -1.5% | -2.2% | ||
| Q2 24 | -43.9% | -1.9% | ||
| Q1 24 | -3.7% | -7.6% |
| Q4 25 | $0.01 | — | ||
| Q3 25 | $0.08 | — | ||
| Q2 25 | $0.24 | — | ||
| Q1 25 | $-0.06 | $-0.48 | ||
| Q4 24 | — | $1.11 | ||
| Q3 24 | $-0.01 | $-0.08 | ||
| Q2 24 | $-0.21 | $0.03 | ||
| Q1 24 | $-0.03 | $-1.54 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $81.2M | $6.1M |
| Total DebtLower is stronger | $33.7M | $79.1K |
| Stockholders' EquityBook value | $299.9M | $5.3M |
| Total Assets | $423.1M | $56.9M |
| Debt / EquityLower = less leverage | 0.11× | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.2M | $6.1M | ||
| Q3 25 | $82.6M | $3.9M | ||
| Q2 25 | $60.0M | $68.7K | ||
| Q1 25 | $15.1M | $2.9M | ||
| Q4 24 | — | $5.6M | ||
| Q3 24 | $28.7M | $4.3M | ||
| Q2 24 | $29.7M | $5.3M | ||
| Q1 24 | $26.7M | — |
| Q4 25 | $33.7M | $79.1K | ||
| Q3 25 | $34.6M | $84.6K | ||
| Q2 25 | $39.1M | $642.8K | ||
| Q1 25 | $39.2M | $715.4K | ||
| Q4 24 | — | $787.7K | ||
| Q3 24 | $43.3M | $858.6K | ||
| Q2 24 | $44.4M | $1.6M | ||
| Q1 24 | $46.1M | $748.8K |
| Q4 25 | $299.9M | $5.3M | ||
| Q3 25 | $295.4M | $-1.7M | ||
| Q2 25 | $284.3M | $-59.4M | ||
| Q1 25 | $248.3M | $-23.1M | ||
| Q4 24 | — | $-88.9M | ||
| Q3 24 | $274.4M | $-39.3M | ||
| Q2 24 | $275.2M | $-53.0M | ||
| Q1 24 | $296.2M | $-173.0M |
| Q4 25 | $423.1M | $56.9M | ||
| Q3 25 | $418.4M | $58.5M | ||
| Q2 25 | $403.7M | $46.2M | ||
| Q1 25 | $377.1M | $47.4M | ||
| Q4 24 | — | $61.0M | ||
| Q3 24 | $417.8M | $47.1M | ||
| Q2 24 | $425.4M | $49.1M | ||
| Q1 24 | $458.4M | $50.1M |
| Q4 25 | 0.11× | 0.01× | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.14× | — | ||
| Q1 25 | 0.16× | — | ||
| Q4 24 | — | — | ||
| 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 | — | $2.4M |
| Free Cash FlowOCF − Capex | — | $2.3M |
| FCF MarginFCF / Revenue | — | 12.2% |
| Capex IntensityCapex / Revenue | 90.8% | 0.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-9.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.4M | ||
| Q3 25 | $24.4M | $-6.6M | ||
| Q2 25 | — | $-2.3M | ||
| Q1 25 | $-6.4M | $-2.3M | ||
| Q4 24 | — | $3.5M | ||
| Q3 24 | $4.3M | $162.2K | ||
| Q2 24 | $5.7M | $-2.2M | ||
| Q1 24 | $-50.0K | $-10.2M |
| Q4 25 | — | $2.3M | ||
| Q3 25 | $22.6M | $-6.8M | ||
| Q2 25 | — | $-2.7M | ||
| Q1 25 | $-8.9M | $-2.6M | ||
| Q4 24 | — | $3.4M | ||
| Q3 24 | $1.5M | $116.5K | ||
| Q2 24 | $4.8M | $-2.3M | ||
| Q1 24 | $-1.9M | $-10.4M |
| Q4 25 | — | 12.2% | ||
| Q3 25 | 33.9% | -28.6% | ||
| Q2 25 | — | -15.0% | ||
| Q1 25 | -11.6% | -30.0% | ||
| Q4 24 | — | 18.2% | ||
| Q3 24 | 2.7% | 0.6% | ||
| Q2 24 | 9.0% | -15.6% | ||
| Q1 24 | -2.5% | -51.5% |
| Q4 25 | 90.8% | 0.9% | ||
| Q3 25 | 2.7% | 1.0% | ||
| Q2 25 | 4.6% | 2.4% | ||
| Q1 25 | 3.3% | 4.2% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | 5.1% | 0.2% | ||
| Q2 24 | 1.6% | 0.7% | ||
| Q1 24 | 2.4% | 1.1% |
| Q4 25 | — | — | ||
| Q3 25 | 2.39× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| 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
VFF
| International Sales | $8.7M | 71% |
| Cannabis United States Segment | $3.4M | 27% |
ZEO
| Nonrelated Party | $18.1M | 98% |
| Related Party | $432.1K | 2% |
