You’ve probably seen the tickers flash. VFF. It’s been a wild ride for anyone holding Village Farms International stock over the last few years. Honestly, if you just look at the long-term chart, it looks like a mountain range designed by someone who’s had too much caffeine. But as of January 2026, the story isn't just about volatile "pot stocks" anymore. It’s about a massive, high-tech greenhouse operator that basically decided to stop being a tomato company and start being a global cannabis powerhouse.
Most people still think of Village Farms as that "tomato and cucumber guy" from British Columbia. That’s a mistake. They actually privatized and sold off the bulk of their fresh produce assets back in May 2025. They walked away with about $40 million in cash and a much leaner, meaner focus.
The Pivot That Actually Worked
It’s rare to see a legacy agricultural company pull off a pivot this aggressive. For decades, they grew vegetables. Then came 2017, and they teamed up to create Pure Sunfarms. Now, fast forward to their Q3 2025 earnings, and the numbers are honestly a bit startling. We're talking record consolidated net sales of $66.7 million.
The real kicker? Their Canadian cannabis segment hit a 56% gross margin. In an industry where most players are bleeding cash just to keep the lights on, Village Farms is actually making money. They posted a net income of $10.8 million in that same quarter. It’s a complete 180 from the net losses everyone got used to seeing a few years back.
Why the Netherlands is the Next Big Bet
If you’re watching the stock, you have to look at Europe. Specifically, the Netherlands. Through their subsidiary, Leli Holland, Village Farms is one of the very few companies with a license to grow and sell recreational cannabis in the Dutch "Coffee Shop Experiment."
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- Their facility in Drachten hit full capacity recently.
- In just one quarter, it pulled in $3.6 million in sales with a sweet $0.8 million in net income.
- They just launched 10 new products there on January 12, 2026—including the first regulated "blunt" in the Dutch market.
They aren't stopping at one greenhouse, either. A much larger facility in Groningen is slated to go live in Q1 2026. When that happens, their production capacity in the Netherlands is expected to quintuple. That's a lot of hash and pre-rolls.
Breaking Down the Village Farms International Stock Numbers
The stock closed at $3.44 on Friday, January 16, 2026. If you’ve been following it for a year, you know that's a massive jump from the 52-week low of $0.48. It’s actually up over 150% in the last six months.
Wait, but is it overvalued?
Interestingly, even with the rally, the price-to-sales ratio is sitting around 1.57. Compare that to some of its peers in the cannabis space that trade at much higher multiples despite having worse balance sheets. Analysts are currently split, but the consensus leans toward a "Moderate Buy." Some folks at Craig-Hallum have been holding onto a $1.20 target for a while, which the market has clearly blown past, while others see significantly more upside as the European revenue kicks in.
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The Real Risks Nobody Mentions
It’s not all sunshine and greenhouses. There is serious litigation happening. The company recently took a swing at the DEA over delays in the marijuana rescheduling process. CEO Michael DeGiglio didn't hold back, calling the government’s behavior "embarrassing" and "disgraceful."
While investors love the fighter spirit, legal battles are expensive. Plus, insiders have been doing some selling lately. In the last 90 days, insiders like Orville Bovenschen and Director Carolyn Hauger have trimmed their positions, selling off about 148,000 shares combined. It’s not necessarily a red flag—people sell for a million reasons—but it's worth noting when the "smart money" takes a little off the table.
What's Coming in 2026?
The roadmap for the rest of this year is pretty clear. They are expanding their Delta 2 greenhouse in British Columbia to add another 40 metric tons of capacity. Most of that is being earmarked for the international export market. Why? Because the margins on medical exports to Germany, Israel, and Australia are way better than the cut-throat retail market in Canada.
They expect to enter even more international markets in the first half of 2026. They have roughly $88 million in cash sitting on the balance sheet, which gives them a lot of runway to finish these construction projects without having to beg Wall Street for more money.
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Practical Steps for Your Watchlist
If you're thinking about a move, don't just jump in because of the hype.
- Watch the Groningen Facility: If the Q1 2026 launch in the Netherlands hits a snag, the stock will likely feel it.
- Monitor Export Growth: The 758% surge in international medical sales is the real engine here. If that growth slows down, the "high margin" story starts to leak.
- Check the 10-Q: Keep an eye on the Q4 2025 results expected in March. That's where we'll see if the Dutch momentum is sustainable or just a first-mover flash in the pan.
Basically, Village Farms has moved out of the "struggling grower" phase and into the "profitable operator" phase. Whether they can keep that momentum while fighting the DEA and building massive greenhouses in Europe is the billion-dollar question.
Next Steps for Investors
Set a price alert for the $3.20 level, which is the current lower bound of the market's "expected move" for early 2026. Review the company's Q1 2026 production updates for the Groningen facility to confirm they are meeting their quintupled capacity targets.