Where Food Comes From, Inc. (WFCF)

Where Food Comes From Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating Revenue	25.72	25.14	24.85	21.93	20.08	20.77
Revenue	25.72	25.14	24.85	21.93	20.08	20.77
Revenue Growth (YoY)	3.91%	1.17%	13.28%	9.24%	-3.36%	16.68%
Cost of Revenue	14.86	14.61	14.38	12.2	11.15	11.7
Gross Profit	10.86	10.52	10.47	9.74	8.93	9.08
Selling, General & Admin	8.15	7.83	7.82	7.43	7.24	7.53
Operating Expenses	8.15	7.83	7.82	7.43	7.24	7.53
Operating Income	2.71	2.7	2.65	2.3	1.69	1.55
Interest Expense	-0.01	-0.01	-0	-0.01	-0.01	-0.01
Interest & Investment Income	0.32	0.32	0.25	0.2	0.15	0.12
Currency Exchange Gain (Loss)	-0.01	-0.01	-0.04	-0.01	-0	-
Other Non Operating Income (Expenses)	0.05	0.05	-0.06	0	0.01	0.01
EBT Excluding Unusual Items	3.07	3.06	2.8	2.49	1.83	1.67
Impairment of Goodwill	-	-	-	-	-	-0.2
Gain (Loss) on Sale of Assets	0	0.01	0.01	0.1	0.02	0.01
Other Unusual Items	-	-	-	1.04	-	-
Pretax Income	3.07	3.07	2.82	3.62	1.85	1.48
Income Tax Expense	0.9	0.91	0.82	0.66	0.46	0.46
Earnings From Continuing Operations	2.17	2.15	1.99	2.96	1.39	1.02
Minority Interest in Earnings	-	-	-	-	-	0.32
Net Income	2.17	2.15	1.99	2.96	1.39	1.35
Net Income to Common	2.17	2.15	1.99	2.96	1.39	1.35
Net Income Growth	12.34%	7.92%	-32.66%	113.79%	2.97%	67.97%
Shares Outstanding (Basic)	5	5	6	6	6	6
Shares Outstanding (Diluted)	5	6	6	6	6	6
Shares Change (YoY)	-7.82%	-8.07%	-2.43%	-0.58%	-0.58%	0.15%
EPS (Basic)	0.40	0.39	0.33	0.49	0.22	0.22
EPS (Diluted)	0.40	0.39	0.33	0.48	0.22	0.22
EPS Growth	25.29%	18.18%	-31.25%	118.18%	1.63%	80.40%
Free Cash Flow	3.18	2.67	2.57	2.81	1.99	2.51
Free Cash Flow Per Share	0.59	0.48	0.43	0.45	0.32	0.40
Gross Margin	42.23%	41.86%	42.13%	44.40%	44.47%	43.70%
Operating Margin	10.55%	10.73%	10.67%	10.50%	8.40%	7.47%
Profit Margin	8.42%	8.56%	8.03%	13.50%	6.90%	6.47%
Free Cash Flow Margin	12.38%	10.64%	10.32%	12.80%	9.90%	12.06%
EBITDA	3.32	3.33	3.42	3.1	2.61	2.4
EBITDA Margin	12.92%	13.25%	13.75%	14.14%	13.02%	11.55%
D&A For EBITDA	0.61	0.63	0.77	0.8	0.93	0.85
EBIT	2.71	2.7	2.65	2.3	1.69	1.55
EBIT Margin	10.55%	10.73%	10.67%	10.50%	8.40%	7.47%
Effective Tax Rate	29.45%	29.79%	29.19%	18.20%	25.01%	31.02%
Revenue as Reported	25.72	25.14	24.85	21.93	20.08	20.77

Source: S&P Capital IQ. Standard template. Financial Sources.