Vital Farms, Inc. (VITL)

Food and Kindred Products

Latest Price

$10.01

TTM P/E

Normalized P/E

21.03

Div Yield

Book Value

6.61

P/B Ratio

1.52

Valuation metrics

EPS: $1.44

Book value / share: $7.84

Formula: √(22.5 × EPS × BVPS)

Graham Number

$15.94

+59% upside

Norm. op. income: $23M (median of 6yr)

Tax rate: 24%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$4.90

51% downside

Base FCF: $38M (median of recent 5yr)

Growth: -8%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$6.65

34% downside

EPS: $1.44

Target P/E: 21×

Formula: EPS × P/E

P/E Fair Value

$30.24

+202% upside

89.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	5.17M	$60.0M	12.05%	-577.7K	2026-06-30
Divisadero Street Capital Management, LP	2.00M	$23.0M	4.67%	+1.45M	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	1.53M	$17.0M	3.56%	-56.5K	2026-06-30
CITADEL ADVISORS LLC	1.47M	$17.0M	3.43%	+970.3K	2026-06-30
GOLDMAN SACHS GROUP INC	1.47M	$17.0M	3.42%	-269.3K	2026-06-30
NEEDHAM INVESTMENT MANAGEMENT LLC	1.21M	$14.0M	2.82%	+60.0K	2026-06-30
JANE STREET GROUP, LLC	1.12M	$13.0M	2.61%	+765.6K	2026-06-30
CIBC WORLD MARKET INC.	1.12M	$12.0M	2.60%	--	2026-06-30
FEDERATED HERMES, INC.	1.04M	$12.0M	2.43%	+647.2K	2026-06-30
JPMORGAN CHASE & CO	1.01M	$11.0M	2.34%	+804.2K	2026-06-30