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	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating Revenue	25.82	25.14	24.85	21.93	20.08	20.77
Revenue	25.82	25.14	24.85	21.93	20.08	20.77
Revenue Growth (YoY)	5.38%	1.17%	13.28%	9.24%	-3.36%	16.68%
Cost of Revenue	15.05	14.61	14.38	12.2	11.15	11.7
Gross Profit	10.77	10.52	10.47	9.74	8.93	9.08
Selling, General & Admin	8.39	7.83	7.82	7.43	7.24	7.53
Operating Expenses	8.39	7.83	7.82	7.43	7.24	7.53
Operating Income	2.38	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	2.73	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	2.73	3.07	2.82	3.62	1.85	1.48
Income Tax Expense	0.8	0.91	0.82	0.66	0.46	0.46
Earnings From Continuing Operations	1.94	2.15	1.99	2.96	1.39	1.02
Minority Interest in Earnings	-	-	-	-	-	0.32
Net Income	1.94	2.15	1.99	2.96	1.39	1.35
Net Income to Common	1.94	2.15	1.99	2.96	1.39	1.35
Net Income Growth	3.70%	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)	-6.19%	-8.07%	-2.43%	-0.58%	-0.58%	0.15%
EPS (Basic)	0.36	0.39	0.33	0.49	0.22	0.22
EPS (Diluted)	0.36	0.39	0.33	0.48	0.22	0.22
EPS Growth	13.22%	18.18%	-31.25%	118.18%	1.63%	80.40%
Free Cash Flow	2.8	2.67	2.57	2.81	1.99	2.51
Free Cash Flow Per Share	0.52	0.48	0.43	0.45	0.32	0.40
Gross Margin	41.71%	41.86%	42.13%	44.40%	44.47%	43.70%
Operating Margin	9.20%	10.73%	10.67%	10.50%	8.40%	7.47%
Profit Margin	7.50%	8.56%	8.03%	13.50%	6.90%	6.47%
Free Cash Flow Margin	10.84%	10.64%	10.32%	12.80%	9.90%	12.06%
EBITDA	2.99	3.33	3.42	3.1	2.61	2.4
EBITDA Margin	11.57%	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	2.38	2.7	2.65	2.3	1.69	1.55
EBIT Margin	9.20%	10.73%	10.67%	10.50%	8.40%	7.47%
Effective Tax Rate	29.22%	29.79%	29.19%	18.20%	25.01%	31.02%
Revenue as Reported	25.82	25.14	24.85	21.93	20.08	20.77

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