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AFRIW

Forafric Global PLC

AFRIW

Forafric Global PLC • NASDAQ
$0.94 ▼ -1.05% (-0.01)
Market Cap $25.27 M
52w High $0.95
52w Low $0.90
Dividend Yield 0%
P/E -40.87
Volume 6.50K
Outstanding Shares 26.88M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2024 $82.619M $11.164M $-6.378M -7.72% $-0.24 $1.798M
Q1-2024 $82.619M ▲ $11.164M ▲ $-6.378M ▼ -7.72% ▼ $-0.24 ▼ $1.798M ▼
Q4-2023 $79.93M $5.051M ▼ $-2.027M -2.536% $-0.075 $2.728M
Q3-2023 $79.93M ▲ $7.065M ▼ $-2.027M ▲ -2.536% ▲ $-0.075 ▲ $2.728M ▲
Q2-2023 $72.808M $7.512M $-4.311M -5.921% $-0.16 $350K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $12.231M $246.078M $240.762M $-1.673M
Q3-2024 $12.231M ▼ $246.078M ▼ $240.762M ▼ $-1.673M ▼
Q2-2024 $16.368M $287.122M $270.812M $9.381M ▼
Q1-2024 $16.368M ▼ $287.122M ▼ $270.812M ▼ $9.381M ▼
Q4-2023 $24.021M $309.45M $280.244M $22.795M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2024 $-6.378M $6.695M $-332K $-10.05M $0 $6.413M
Q1-2024 $-6.378M ▼ $6.695M ▼ $-332K ▲ $-10.05M ▼ $0 ▲ $6.413M ▼
Q4-2023 $-2.027M $11.294M $-2.825M $-8.626M $-567K $8.591M
Q3-2023 $-2.027M ▲ $11.294M ▲ $-2.825M ▼ $-8.626M ▼ $-567K ▼ $8.591M ▲
Q2-2023 $-4.311M $5.369M $-2.094M $-1.966M $164K $3.308M

Five-Year Company Overview

Income Statement

Income Statement AFRIW’s income statement shows a business that is close to break-even but not yet consistently profitable. Sales have grown modestly over several years, but gross profit has stayed thin, highlighting a low‑margin, cost‑sensitive operation. Operating results hover around zero, with a small loss recently, and net income has been negative for multiple years, with losses widening again in the latest period. This points to a company still struggling to convert its scale and brands into steady bottom‑line earnings, and very dependent on tight cost control and efficiency gains to move into sustainable profitability.

Balance Sheet

Balance Sheet The balance sheet looks stretched. Total assets are fairly stable, but the company operates with relatively high debt and a very slim equity cushion that has steadily eroded and is now close to nil. Cash on hand is low, which limits financial flexibility. This structure suggests a leveraged profile where there is not much room for prolonged losses or major shocks. Any improvement in profitability or fresh equity support would help, but as things stand, the balance sheet leaves little margin for error.

Cash Flow

Cash Flow Cash flow is a relative bright spot compared with the earnings line. After several years of negative operating cash flow, the business has recently generated positive cash from operations and positive free cash flow, helped by modest capital spending. That means the core activities are currently bringing in cash even though accounting profits are negative. However, the combination of low cash balances, ongoing debt, and limited investment spending suggests that while liquidity has improved, it is still fragile and growth investments may be constrained.

Competitive Edge

Competitive Edge Competitively, Forafric has meaningful strengths in its home market. It is a leading cereal‑processing and milling player in Morocco, with long‑standing, well‑known consumer brands such as MAYMOUNA and TRIA and a wide distribution network that is hard for new entrants to replicate. The acquisition of Tria deepened its industrial base and brand portfolio, reinforcing its scale advantage. Its focus on the Moroccan soft wheat segment gives it deep local knowledge and a clear strategic target, but also concentrates its exposure to a single country, a limited set of products, and to fluctuations in grain prices and local regulation.

Innovation and R&D

Innovation and R&D Innovation at Forafric is mainly operational rather than laboratory‑style R&D. The company has upgraded mills using modern, automated, and more energy‑efficient technology from a specialist partner, and it emphasizes continuous modernization of its industrial tools. An experienced technical leadership team focuses on process efficiency, yield, and cost optimization rather than breakthrough products. There is room for future product innovation in value‑added wheat‑based foods, but current differentiation is more about brand strength, quality consistency, and efficient production than heavy spending on research and development.

Summary

Overall, AFRIW combines a solid on‑the‑ground competitive position in Morocco with a financially tight profile. The company benefits from strong brands, scale in a staple food category, and improving cash generation, all supported by ongoing investments in more efficient milling technology. At the same time, persistent accounting losses, a very thin equity base, modest cash reserves, and meaningful leverage create financial risk and dependence on further operational improvements. The key swing factors going forward are whether management can translate its market leadership and efficiency initiatives into durable profitability while managing debt and funding needs in a concentrated geographic and product footprint.