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ValueScreener company report

Limoneira Company (LMNR)

NASDAQ / Consumer Defensive / Agricultural Farm Products

Share price

11.82 USD Market dataClose of Oct 15, 2026

Market capitalisation

214.3M USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Dec 23, 2025
Ratios computed
Oct 14, 2026
Filed years
16, FY2009 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

-6.8% Computed

From the FY2025 filing

Read quality

Valuation

Price to book

1.31x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Dividend yield

0.0% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2016 Revenue: 111.8M USDFY2016 Net income: 8.1M USDFY2017 Revenue: 121.3M USDFY2017 Net income: 6.6M USDFY2018 Revenue: 129.4M USDFY2018 Net income: 20.2M USDFY2019 Revenue: 171.4M USDFY2019 Net income: -5.9M USDFY2020 Revenue: 164.6M USDFY2020 Net income: -16.4M USDFY2021 Revenue: 166.0M USDFY2021 Net income: -3.4M USDFY2022 Revenue: 184.6M USDFY2022 Net income: -236.0K USDFY2023 Revenue: 179.9M USDFY2023 Net income: 9.4M USDFY2024 Revenue: 191.5M USDFY2024 Net income: 7.7M USDFY2025 Revenue: 159.7M USDFY2025 Net income: -16.0M USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
0 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it good

Return on invested capital was -6.8% in FY2025, in the band labelled "Likely below the cost of capital" (below 8.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting returns below the usual cost of the capital employed.

Today, against the Consumer Defensive sector (98 companies), -6.8% sits at the 14th percentile; the middle half of that group runs from 2.7% to 13.7%.

Is it safe

Debt to equity was 0.46 in FY2025, in the band labelled "Conservative" (below 0.50), on lines anchored on Graham's defensive-investor criteria, suggesting a balance sheet that relies little on borrowing.

Today, against the Consumer Defensive sector (124 companies), 0.46 sits at the 33rd percentile; the middle half of that group runs from 0.37 to 1.57.

Year by year against peers
Whether Limoneira Company's return on invested capital stayed above the median of the Consumer Defensive sector, year by year. (FY2023 to FY2025, 3 fiscal years of Limoneira Company with a comparable figure)
The direction
Which way Limoneira Company's return on equity has moved, and how steadily. (FY2016 to FY2025, 10 filed years of Limoneira Company)
What could explain it
What in Limoneira Company's filed statements could explain the movements. (4 readings drawn from the statement lines Limoneira Company filed)
What to check next
What to check next on Limoneira Company, and where in its filings. (3 questions for Limoneira Company)
In one paragraph
One paragraph on Limoneira Company's returns, cash, balance sheet and price. (8 of sixteen figures read for Limoneira Company)

These are LMNR’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research LMNRPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Dec 23, 2025, accession 0001342423-25-000039.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Limoneira Company: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax-6.8% ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Return on equity-9.9% ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Return on capital employed, pre-tax-7.3% ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Return on assets-5.1% ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Gross margin3.1% ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Operating margin-12.8% ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Net margin-10.0% ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
LMNR -10.0%
KLC -4.1%BRCB 0.0%CHGG -27.4%ZVIA -6.2%HFFG -3.2%
-27.4%0.0%
Net margin: LMNR against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Limoneira Company: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity0.46 ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Current ratio1.35 ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Quick ratio1.35 ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Interest coverage
Why n/a

No interest expense is filed for this year, so coverage is not computed.

n/a ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Altman Z-score1.39 ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Net debt73.0M ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Total assets 311.1MTotal liabilities 120.3MShareholders' equity 160.7MOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Limoneira Company owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Dec 23, 2025, 0001342423-25-000039).

Limoneira Company: balance sheet position
Total assets311.1M FiledFY2025 10-K, filed Dec 23, 2025
Total liabilities120.3M FiledFY2025 10-K, filed Dec 23, 2025
Shareholders' equity160.7M FiledFY2025 10-K, filed Dec 23, 2025
Cash1.5M FiledFY2025 10-K, filed Dec 23, 2025
Total debt74.5M FiledFY2025 10-K, filed Dec 23, 2025
Net debt73.0M
Current ratio1.35
Debt to equity0.46
  • Interest cover: FY2025: No interest expense is filed for this year, so coverage is not computed.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Limoneira Company: what the market charges, each with its source
FigureValue, source and document
Price to earnings
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
P/E on trailing twelve months35.70x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book1.31x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Price to sales1.32x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Enterprise value to EBIT
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Enterprise value to EBITDA
Why n/m

EBITDA is zero or negative, so a multiple of it is not meaningful.

n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Price to earnings over growth
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Diluted earnings per share-0.93 USD FiledFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Graham number
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039

We publish no fair value or price target of our own. Value LMNR on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Limoneira Company today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Limoneira Company: valuation
Share price11.82 USD
Market capitalisation214.3M USD
Enterprise value to EBITDAn/m
Graham numbern/m
Diluted earnings per share, FY2025-0.93 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Oct 3, 2016: low 13.10x, median 34.06x, high 206.80x, latest 35.70x. 1,174 trading days with a meaningful ratio, 1,349 more on a loss and left out. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Limoneira Company

  1. KinderCare Learning Companies, Inc. (KLC)Market cap 216.9M USD
  2. Black Rock Coffee Bar, Inc. Class A Common Stock (BRCB)Market cap 149.0M USD
  3. Chegg, Inc. (CHGG)Market cap 84.4M USD
  4. Zevia PBC (ZVIA)Market cap 86.6M USD
  5. HF Foods Group Inc. (HFFG)Market cap 83.5M USD

Same sector (Consumer Defensive) and size band (Micro, 50M to 300M), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Limoneira Company: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Free cash flow
Why n/a

The FY2025 filing carries no free cash flow we could read.

n/a ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Free cash flow margin
Why n/a

No free cash flow, and no operating cash flow and capital expenditure pair, is filed for this year.

n/a ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Dividend yield0.0% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
FY2016 Free cash flow: -1.9M USDFY2016 Net income: 8.1M USDFY2017 Free cash flow: 5.6M USDFY2017 Net income: 6.6M USDFY2018 Free cash flow: 4.5M USDFY2018 Net income: 20.2M USDFY2019 Free cash flow: -14.5M USDFY2019 Net income: -5.9M USDFY2020 Net income: -16.4M USDFY2021 Net income: -3.4M USDFY2022 Net income: -236.0K USDFY2023 Net income: 9.4M USDFY2024 Net income: 7.7M USDFY2025 Net income: -16.0M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Limoneira Company: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
n/mFY2025Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
1.31xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a Operating profit is zero or negative, so there is no profit for a buyer's price to be a multiple of.
n/aFY2025Oct 15, 2026
n/a The filed cash flow statement reports neither free cash flow nor the operating cash flow and capital spending it is built from.
-6.8%FY2025Dec 23, 2025
0.0%FY2025Oct 15, 2026
0.46FY2025Dec 23, 2025
1.35FY2025Dec 23, 2025
1.32xFY2025Oct 15, 2026
n/mFY2025Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
1.39FY2025Oct 15, 2026
-0.53FY2025Dec 23, 2025
2/9FY2025Dec 23, 2025

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 16 filed fiscal years on record, FY2009 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 14, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2016 to FY2025, read from the annual reports Limoneira Company filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Limoneira Company: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY2025159.7M-20.4M-16.0M-0.93n/a-12.8%-9.9%10-K, Dec 23, 20250001342423-25-000039
FY2024191.5M-6.2M7.7M0.40n/a-3.2%4.3%10-K, Dec 23, 20240001342423-24-000035
FY2023179.9M10.8M9.4M0.50n/a6.0%5.3%10-K, Dec 21, 20230001342423-23-000037
FY2022184.6M2.2M-236.0K-0.04n/a1.2%-0.1%10-K, Dec 22, 20220001342423-22-000038
FY2021166.0M-6.3M-3.4M-0.23n/a-3.8%-1.9%10-K, Jan 10, 20220001342423-22-000009
FY2020164.6M-19.0M-16.4M-0.96n/a-11.6%-9.0%10-K, Jan 14, 20210001342423-21-000006
FY2019171.4M-5.5M-5.9M-0.37-14.5M-3.2%-2.9%10-K, Jan 14, 20200001342423-20-000006
FY2018129.4M9.5M20.2M1.254.5M7.3%9.2%10-K, Jan 14, 20190001342423-19-000005
FY2017121.3M11.9M6.6M0.425.6M9.8%4.8%10-K, Jan 8, 20180001144204-18-001288
FY2016111.8M9.2M8.1M0.52-1.9M8.2%6.4%10-K, Jan 10, 20170001144204-17-001591
  • Revenue, compound annual growth FY2016 to FY2025: 4.0%
  • Earnings: Earnings was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings per share: Earnings per share was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Free cash flow: Free cash flow was not positive in both 2016 and 2019, so a compound rate across the window is not defined. Both figures are in the table.

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Limoneira Company: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-0.53 ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Piotroski F-score2/9 ComputedFY2025 10-K, filed Dec 23, 2025, 0001342423-25-000039
Named tests met0 of 30 Computed
Beta0.67 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 0 met, 25 not met, 5 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
None of the named tests.
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; Dividends and buybacks; Low beta, profitable; ROIC at or above WACC; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/B (David Dreman)
Not measured
High yield, low payout; P/E times P/B (Benjamin Graham); Cash-covered dividend; Cheapest quarter on P/E (David Dreman); Low P/E, growth, yield (John Neff). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(13)
  • P/E Ratio: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • EV/EBIT: We do not hold this figure for this company, so there is nothing to show.
  • PEG Ratio: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • EV/EBITDA: EBITDA is zero or negative, so a multiple of it is not meaningful.
  • Interest Coverage: No interest expense is filed for this year, so coverage is not computed.
  • Dividend Yield: The stored figure is a zero that can stand for data we do not hold, so this test is not measured.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Free Cash Flow Yield: We do not hold this figure for this company, so there is nothing to show.
  • Price To Graham: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • Capex To Ocf: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: The stored figure is a zero that can stand for data we do not hold, so this test is not measured.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 13 figures could not be read on this company, among them P/E Ratio, EV/EBIT, PEG Ratio. Each blank in the table above names the rest, with its reason. 5 named tests come back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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