Where Food Comes From, Inc. (WFCF) Balance Sheet
WFCF balance sheet, 2025
December 31, 2025 · U.S. dollars$12.9M assets = $3.6M liabilities + $9.3M equity
Both columns are drawn to the same scale: what WFCF owns equals what it owes plus shareholders’ equity. Hover a block for its value.
WFCF financial health
Descriptive bands, not a rating. Fiscal 2025.
WFCF balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $12.9M2016 | $12.9M2025 | +0.0%/yr | |
| Total liabilities | $3.5M2016 | $3.6M2025 | +0.4%/yr | |
| Shareholders’ equity | $9.4M2016 | $9.3M2025 | −0.1%/yr | |
| Cash & short-term investments | $3.2M2016 | $3.2M2025 | −0.1%/yr | |
| Total debt | $177,8272016 | $1.4M2025 | +26.2%/yr | |
| Net cash (debt) | $3.0M2016 | $1.8M2025 | −$1.3M | |
| Working capital | $3.4M2016 | $3.2M2025 | −$239,185 | |
| Book value per share | $1.572016 | $1.802025 | +1.5%/yr | |
| Current ratio | 3.552016 | 2.032025 | −1.52 | |
| Debt / equity | 0.022016 | 0.152025 | +0.14 | |
| Shares outstanding | 6.0M2016 | 5.2M2025 | −1.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
WFCF assets
WFCF liabilities and equity
WFCF debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
WFCF balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $3.2M | $2.0M | $2.6M | $4.4M | $5.4M | $4.4M | $2.9M | $1.7M | $3.4M | $3.2M |
| Cash & equivalents | $3.2M | $2.0M | $2.6M | $4.4M | $5.4M | $4.4M | $2.6M | $1.5M | $2.7M | $2.5M |
| Short-term investments | — | — | — | — | — | $991,000 | $258,097 | $245,597 | $743,206 | $733,104 |
| Receivables | $1.7M | $1.8M | $2.1M | $2.2M | $2.2M | $2.5M | $2.5M | $2.2M | $1.9M | $1.3M |
| Inventory | $792,000 | $1.0M | $1.1M | $888,000 | $767,000 | $0 | $1 | $0 | $0 | $0 |
| Other current assets | $605,000 | $705,000 | $335,000 | $463,000 | $325,000 | $592,000 | $450,345 | $439,424 | $245,073 | $203,744 |
| Total current assets | $6.3M | $5.5M | $6.2M | $7.9M | $8.7M | $7.5M | $5.9M | $4.4M | $5.6M | $4.8M |
| Property, plant & equipment (net) | $1.1M | $2.8M | $3.1M | $3.6M | $4.1M | $4.6M | $4.8M | $1.7M | $1.1M | $1.2M |
| Goodwill & intangible assets | $5.0M | $4.8M | $5.2M | $5.3M | $5.5M | $5.9M | $6.2M | $7.0M | $6.6M | $6.9M |
| Long-term investments | $200,000 | $1.2M | $1.2M | $991,000 | $991,000 | $991,000 | $991,115 | $1.2M | $0 | $0 |
| Other non-current assets | $319,000 | $1.0M | $516,000 | $546,000 | $487,000 | $443,000 | $398,254 | $175,923 | $79,622 | $0 |
| Total assets | $12.9M | $15.3M | $16.3M | $18.3M | $19.8M | $19.4M | $18.2M | $14.5M | $13.3M | $12.9M |
| Liabilities | ||||||||||
| Accounts payable | $451,000 | $468,000 | $567,000 | $640,000 | $447,000 | $649,000 | $1.0M | $533,925 | $457,307 | $333,784 |
| Short-term debt | $434,000 | $352,000 | $312,000 | $350,000 | $511,000 | $744,000 | $247,836 | $32,791 | $24,500 | $4,067 |
| Deferred revenue | $1.5M | $1.7M | $1.5M | $1.3M | $1.5M | $1.2M | $797,033 | $727,854 | $851,185 | $524,396 |
| Total current liabilities | $3.1M | $3.2M | $3.0M | $3.0M | $3.0M | $3.1M | $2.7M | $1.7M | $1.9M | $1.3M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $572,000 | $0 | $32,220 | $42,452 | $0 |
| Lease obligations | $943,000 | $2.5M | $2.8M | $3.1M | $3.4M | $3.6M | $3.8M | $406,144 | $180,135 | $177,827 |
| Other long-term liabilities | $508,999 | $2.2M | $2.5M | $2.8M | $3.0M | $3.3M | $3.5M | $2.0M | $1.7M | $2.1M |
| Total liabilities | $3.6M | $5.4M | $5.5M | $5.8M | $6.0M | $7.0M | $6.3M | $3.7M | $3.7M | $3.5M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $5,000 | $7,000 | $7,000 | $6,000 | $6,000 | $6,000 | $25,802 | $25,473 | $24,972 | $24,890 |
| Retained earnings (deficit) | $11.1M | $12.0M | $9.7M | $7.6M | $5.6M | $3.5M | $2.2M | $818,133 | $17,397 | −$124,917 |
| Treasury stock | — | — | — | −$7.3M | −$3.8M | — | — | — | −$724,000 | −$525,000 |
| Accumulated other comprehensive income | — | — | $0 | — | $0 | −$2.0M | $0 | −$1.3M | −$977,852 | −$665,299 |
| Total shareholders' equity | $9.3M | $9.9M | $10.8M | $12.5M | $13.7M | $12.5M | $11.9M | $10.8M | $9.7M | $9.4M |
| Key figures | ||||||||||
| Total debt | $1.4M | $2.5M | $2.8M | $3.1M | $3.5M | $4.6M | $3.8M | $448,537 | $232,033 | $177,827 |
| Net cash (debt) | $1.8M | −$534,000 | −$159,000 | $1.2M | $1.9M | −$230,000 | −$898,941 | $1.3M | $3.2M | $3.0M |
| Working capital | $3.2M | $2.4M | $3.2M | $4.9M | $5.7M | $4.3M | $3.1M | $2.7M | $3.7M | $3.4M |
| Tangible book value | $4.3M | $5.2M | $5.6M | $7.2M | $8.2M | $6.6M | $5.8M | $3.8M | $3.1M | $2.5M |
| Book value per share | $1.80 | $1.86 | $1.95 | $2.07 | $2.22 | $2.00 | $1.91 | $1.72 | $1.56 | $1.57 |
| Shares outstanding | 5.2M | 5.3M | 5.5M | 6.0M | 6.2M | 6.2M | 6.3M | 6.2M | 6.2M | 6.0M |
| Current ratio | 2.03 | 1.74 | 2.09 | 2.60 | 2.90 | 2.39 | 2.14 | 2.57 | 2.97 | 3.55 |
| Quick ratio | 1.58 | 1.21 | 1.60 | 2.15 | 2.53 | 2.20 | 1.97 | 2.31 | 2.84 | 3.40 |
| Debt / equity | 0.15 | 0.26 | 0.26 | 0.25 | 0.26 | 0.37 | 0.32 | 0.04 | 0.02 | 0.02 |
| Equity / assets | 72.1% | 64.9% | 66.4% | 68.2% | 69.5% | 64.1% | 65.5% | 74.4% | 72.5% | 73.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $3.4M | $3.3M | $3.2M | $4.8M | $3.2M | $2.2M | $2.0M | $2.8M | $2.6M | $1.9M | $2.6M | $3.8M |
| Cash & equivalents | $3.4M | $3.3M | $3.2M | $4.8M | $3.2M | $2.2M | $2.0M | $2.8M | $2.6M | $1.9M | $2.6M | $3.8M |
| Receivables | $2.5M | $2.1M | $1.7M | $2.4M | $2.1M | $1.8M | $1.8M | $2.2M | $2.2M | $2.1M | $2.1M | $2.3M |
| Inventory | $989,000 | $842,000 | $792,000 | $894,000 | $1.1M | $930,000 | $1.0M | $1.1M | $1.2M | $1.1M | $1.1M | $1.1M |
| Other current assets | $566,000 | $648,000 | $605,000 | $507,000 | $742,000 | $724,000 | $705,000 | $1.3M | $1.0M | $375,000 | $335,000 | $495,000 |
| Total current assets | $7.5M | $6.8M | $6.3M | $8.5M | $7.1M | $5.7M | $5.5M | $7.4M | $7.0M | $5.5M | $6.2M | $7.7M |
| Property, plant & equipment (net) | $1.1M | $1.2M | $1.1M | $2.6M | $2.7M | $2.7M | $2.8M | $2.9M | $3.0M | $3.1M | $3.1M | $3.2M |
| Goodwill & intangible assets | $4.2M | $4.7M | $5.0M | $4.4M | $4.5M | $4.6M | $4.8M | $5.0M | $5.1M | $5.1M | $5.2M | $5.0M |
| Long-term investments | $200,000 | $200,000 | $200,000 | $200,000 | $1.2M | $1.2M | $1.2M | $1.2M | $1.2M | $1.2M | $1.2M | $1.2M |
| Other non-current assets | $665,000 | $294,000 | $319,000 | $1.1M | $1.1M | $974,000 | $1.0M | $500,000 | $495,000 | $509,000 | $516,000 | $528,000 |
| Total assets | $13.6M | $13.2M | $12.9M | $16.9M | $16.6M | $15.2M | $15.3M | $16.9M | $16.8M | $15.4M | $16.3M | $17.7M |
| Liabilities | ||||||||||||
| Accounts payable | $669,000 | $569,000 | $451,000 | $739,000 | $749,000 | $546,000 | $468,000 | $873,000 | $695,000 | $677,000 | $567,000 | $722,000 |
| Short-term debt | $435,000 | $434,000 | $434,000 | $375,000 | $374,000 | $354,000 | $352,000 | $350,000 | $343,000 | $335,000 | $312,000 | $323,000 |
| Deferred revenue | $1.9M | $1.5M | $1.5M | $2.0M | $2.4M | $1.7M | $1.7M | $2.1M | $2.3M | $1.5M | $1.5M | $1.7M |
| Total current liabilities | $4.5M | $3.6M | $3.1M | $4.5M | $4.5M | $3.5M | $3.2M | $5.2M | $4.7M | $3.4M | $3.0M | $4.1M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $729,000 | $837,000 | $943,000 | $2.4M | $2.5M | $2.5M | $2.5M | $2.6M | $2.7M | $2.8M | $2.8M | $2.9M |
| Other long-term liabilities | $294,000 | $402,999 | $508,999 | $2.0M | $2.1M | $2.1M | $2.2M | $2.3M | $2.4M | $2.5M | $2.5M | $2.6M |
| Total liabilities | $4.8M | $4.0M | $3.6M | $6.6M | $6.7M | $5.6M | $5.4M | $7.5M | $7.1M | $5.8M | $5.5M | $6.7M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $6,000 |
| Retained earnings (deficit) | $11.6M | $11.2M | $11.1M | $11.3M | $10.2M | $12.0M | $12.0M | $10.9M | $10.4M | $9.9M | $9.7M | $9.0M |
| Accumulated other comprehensive income | — | — | — | $0 | — | — | — | — | — | $0 | $0 | — |
| Total shareholders' equity | $8.8M | $9.2M | $9.3M | $10.3M | $10.0M | $9.6M | $9.9M | $9.5M | $9.7M | $9.6M | $10.8M | $11.0M |
| Key figures | ||||||||||||
| Total debt | $729,000 | $837,000 | $1.4M | $2.4M | $2.5M | $2.5M | $2.5M | $2.6M | $2.7M | $2.8M | $2.8M | $2.9M |
| Net cash (debt) | $2.7M | $2.4M | $1.8M | $2.4M | $721,000 | −$222,000 | −$534,000 | $126,000 | −$113,000 | −$912,000 | −$159,000 | $924,000 |
| Working capital | $3.0M | $3.2M | $3.2M | $4.0M | $2.6M | $2.2M | $2.4M | $2.2M | $2.3M | $2.1M | $3.2M | $3.6M |
| Tangible book value | $4.6M | $4.5M | $4.3M | $5.9M | $5.4M | $5.0M | $5.2M | $4.5M | $4.6M | $4.4M | $5.6M | $6.0M |
| Book value per share | $1.75 | $1.81 | $1.83 | $1.94 | $1.89 | $1.83 | $1.86 | $1.76 | $1.80 | $1.74 | $1.93 | $1.95 |
| Shares outstanding | 5.0M | 5.1M | 5.1M | 5.3M | 5.3M | 5.2M | 5.3M | 5.4M | 5.4M | 5.5M | 5.6M | 5.7M |
| Current ratio | 1.67 | 1.88 | 2.03 | 1.88 | 1.56 | 1.63 | 1.74 | 1.42 | 1.49 | 1.62 | 2.09 | 1.88 |
| Quick ratio | 1.33 | 1.47 | 1.58 | 1.57 | 1.16 | 1.16 | 1.21 | 0.96 | 1.02 | 1.18 | 1.60 | 1.49 |
| Debt / equity | 0.08 | 0.09 | 0.15 | 0.23 | 0.25 | 0.26 | 0.26 | 0.28 | 0.28 | 0.29 | 0.26 | 0.26 |
| Equity / assets | 65.0% | 69.6% | 72.1% | 61.1% | 60.0% | 63.0% | 64.9% | 55.8% | 57.7% | 62.2% | 66.4% | 62.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
WFCF financial position
At the end of fiscal 2025 (December 31, 2025), Where Food Comes From had total assets of $12.9 million (down 15.7% from a year earlier), total liabilities of $3.6 million and shareholders' equity of $9.3 million. It held $3.2 million in cash and short-term investments against $1.4 million of debt, a net cash position of $1.8 million. Its current ratio was 2.03. In the latest quarter (ended June 30, 2026) total assets were $13.6 million and equity $8.8 million.
Related: WFCF income statement, WFCF cash flow statement, WFCF key metrics. See the WFCF stock overview for the latest quote and news.
WFCF balance sheet FAQ
What are Where Food Comes From's total assets?
Where Food Comes From reported total assets of $12.9 million at the end of fiscal 2025 (December 31, 2025), compared with $15.3 million a year earlier.
How much debt does Where Food Comes From have?
Where Food Comes From had $1.4 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.15.
How much cash does Where Food Comes From have?
Where Food Comes From held $3.2 million in cash and short-term investments at the end of fiscal 2025; with $1.4 million of debt that is net cash of $1.8 million.
What is Where Food Comes From's book value?
Where Food Comes From's shareholders' equity (book value) was $9.3 million at the end of fiscal 2025, or $1.80 per share.
What is Where Food Comes From's current ratio?
Where Food Comes From had current assets of $6.3 million and current liabilities of $3.1 million, a current ratio of 2.03 (it can cover its short-term obligations).
How much goodwill does Where Food Comes From have?
Where Food Comes From carried $5.0 million of goodwill and intangible assets, 38.4% of total assets, at the end of fiscal 2025.