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Goodfood Market Corp
TSX:FOOD

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Goodfood Market Corp Logo
Goodfood Market Corp
TSX:FOOD
Watchlist
Price: 0.25 CAD -1.96% Market Closed
Updated: Mar 28, 2024

Intrinsic Value

Goodfood Market Corp. is a online grocery company which engages in delivering fresh meal solutions and grocery items for members from across Canada. [ Read More ]

The intrinsic value of one FOOD stock under the Base Case scenario is 0.62 CAD. Compared to the current market price of 0.25 CAD, Goodfood Market Corp is Undervalued by 59%.

Key Points:
FOOD Intrinsic Value
Base Case
0.62 CAD
Undervaluation 59%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

Valuation Backtest
Goodfood Market Corp

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Fundamental Analysis

Goodfood Q1 FY2024: Strong Profitability & Growth
2024-Q1 Earnings Call

Goodfood Q1 FY2024: Strong Profitability & Growth

Goodfood celebrated its tenth anniversary with a robust start to fiscal 2024, marking a fourth successive quarter of positive earnings before interest, taxes, depreciation, and amortization (EBITDA). Adjusted EBITDA hit $1.5 million, a sharp uptick from a year-over-year loss, buoyed by stricter cost controls and operational efficiencies. With quarterly active customers climbing to 124,000, Goodfood saw net sales rise to $40.5 million, bolstered by efforts to re-engage customers and enhance the user experience with new features like recipe customization. This strategy has solidified a foundation for sustained growth in revenue, reaching $326 per active customer, and has achieved remarkable cash flow improvement, with $3.8 million from operating activities and $4 million in adjusted free cash flow, a significant enhancement from the prior year. The company maintains a disciplined focus on profitable growth, has cut down its debt, and is energetically pursuing innovative value propositions to accelerate its profitable trajectory.

Financials

Balance Sheet Decomposition
Goodfood Market Corp

Current Assets 32.8m
Cash & Short-Term Investments 24.9m
Receivables 4m
Other Current Assets 3.9m
Non-Current Assets 23.5m
PP&E 20.6m
Intangibles 2.6m
Other Non-Current Assets 300k
Current Liabilities 29.2m
Accounts Payable 20m
Other Current Liabilities 9.2m
Non-Current Liabilities 52.5m
Long-Term Debt 52.5m
Efficiency

Earnings Waterfall
Goodfood Market Corp

Revenue
161.8m CAD
Cost of Revenue
-97.2m CAD
Gross Profit
64.5m CAD
Operating Expenses
-67.3m CAD
Operating Income
-2.8m CAD
Other Expenses
-4m CAD
Net Income
-6.8m CAD

Free Cash Flow Analysis
Goodfood Market Corp

Last Value
3-Years Average
FCF Margin
Conversion Rate
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Fundamental Scores

FOOD Profitability Score
Profitability Due Diligence

Goodfood Market Corp's profitability score is 23/100. The higher the profitability score, the more profitable the company is.

Exceptional ROE
ROE is Increasing
Positive Gross Profit
Positive Revenue Growth Forecast
23/100
Profitability
Score

Goodfood Market Corp's profitability score is 23/100. The higher the profitability score, the more profitable the company is.

FOOD Solvency Score
Solvency Due Diligence

Goodfood Market Corp's solvency score is 33/100. The higher the solvency score, the more solvent the company is.

Low D/E
Short-Term Solvency
Positive Net Debt
Long-Term Solvency
33/100
Solvency
Score

Goodfood Market Corp's solvency score is 33/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

FOOD Price Targets Summary
Goodfood Market Corp

Wall Street analysts forecast FOOD stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for FOOD is 0.65 CAD with a low forecast of 0.51 CAD and a high forecast of 0.79 CAD.

Lowest
Price Target
0.51 CAD
102% Upside
Average
Price Target
0.65 CAD
158% Upside
Highest
Price Target
0.79 CAD
215% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Shareholder Return

FOOD Price
Goodfood Market Corp

1M 1M
-2%
6M 6M
-35%
1Y 1Y
-55%
3Y 3Y
-97%
5Y 5Y
-93%
10Y 10Y
+67%
Annual Price Range
0.25
52w Low
0.21
52w High
0.6
Price Metrics
Average Annual Return 26.26%
Standard Deviation of Annual Returns 165.94%
Max Drawdown -99%
Shares Statistics
Market Capitalization 19.1m CAD
Shares Outstanding 76 536 251
Percentage of Shares Shorted 4.86%

FOOD Return Decomposition
Main factors of price return

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Company Profile

Goodfood Market Corp Logo
Goodfood Market Corp

Country

Canada

Industry

Retail

Market Cap

19.1m CAD

Dividend Yield

0%

Description

Goodfood Market Corp. is a online grocery company which engages in delivering fresh meal solutions and grocery items for members from across Canada. The company is headquartered in Saint-Laurent, Quebec and currently employs 3,200 full-time employees. The company went IPO on 2015-04-23. The firm is focused on delivering fresh meal solutions and grocery items for members from across Canada. The firm's unlimited same-day grocery delivery service, Goodfood WOW, offers an even more flexible and convenient online grocery experience, allowing members to order any combination of meal kits, groceries, prepared meals and other products as frequently as needed during the week, with same-day delivery included for all orders over $35, for a monthly subscription fee. The Company’s main production facility and administrative offices are based in Montreal, Quebec, with additional production facilities located in the provinces of Quebec, Ontario, Alberta, and British Columbia. The company has approximately 317,000 active subscribers.

Contact

QUEBEC
Saint-Laurent
4600 Hickmore St
+18555155191.0
https://www.makegoodfood.ca

IPO

2015-04-23

Employees

3 200

Officers

Co-Founder, Chairman & CEO
Mr. Jonathan Ferrari
Co-Founder, President, COO & Director
Mr. Neil Cuggy
Chief Financial Officer
Mr. Roslane Aouameur
Chief Technology Officer
Ms. Bipasha Chiu
Executive VP of Marketing & Member of Happiness
Ms. Jennifer Stahlke
Executive Vice-President of Product & Merchandising
Mr. Simon Brown
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Executive Vice-President of Ready-to-Cook & Supply Chain
Mr. Raffi Krikorian
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See Also

Discover More
What is the Intrinsic Value of one FOOD stock?

The intrinsic value of one FOOD stock under the Base Case scenario is 0.62 CAD.

Is FOOD stock undervalued or overvalued?

Compared to the current market price of 0.25 CAD, Goodfood Market Corp is Undervalued by 59%.