Revenue has collapsed to $5.3 million in 2026Q2, while the company continues to struggle with structural margin erosion, evidenced by a negative gross margin of -66.6%.
Alico, Inc. (ALCO) annual income statement — 30-year revenue, gross profit & net income history
| Metric | TTM | Sep'25 | Sep'24 | Sep'23 | Sep'22 | Sep'21 | Sep'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'09 | Sep'08 | Aug'07 | Nov'06 | Aug'05 | Aug'04 | Aug'03 | Aug'02 | Aug'01 | Aug'00 | Aug'99 | Aug'98 | Aug'97 | Aug'96 |
|---|
| Sales/Revenue | 17.07M | 44.07M | 46.64M | 39.85M | 91.95M | 108.56M | 92.51M | 122.25M | 81.28M | 129.83M | 144.2M | 153.12M | 88.68M | 101.66M | 127.19M | 98.59M | 79.79M | 89.53M | 116.38M | 134.84M | 77.43M | 55.52M | 52.06M | 48.28M | 49.19M | 62.98M | 59.17M | 43.4M | 42.8M | 46.2M | 35.1M |
| Revenue Growth % | -61.38% | -5.52% | 17.06% | -56.66% | -15.31% | 17.36% | -24.33% | 50.41% | -37.39% | -9.96% | -5.83% | 72.66% | -12.77% | -20.07% | 29% | 23.56% | -10.87% | -23.07% | -13.69% | 74.13% | 39.46% | 6.66% | 7.81% | -1.83% | -21.9% | 6.43% | 36.35% | 1.4% | -7.36% | 31.62% | -8.83% |
| Cost of Goods Sold | 29.37M | 236.26M | 103.03M | 33.4M | 106.71M | 84.67M | 74.59M | 61.89M | 55.69M | 120.9M | 109.14M | 117.17M | 68.59M | 79.99M | 94.95M | 75.16M | 69.87M | 87.69M | 102.33M | 105.14M | 62.69M | 42.54M | 38.92M | 37.26M | 39.51M | 39.71M | 34.29M | 32.3M | 29.2M | 26.1M | 25.4M |
| COGS % of Revenue | - | 536.15% | 220.88% | 83.82% | 116.06% | 77.99% | 80.63% | 50.63% | 68.51% | 93.12% | 75.69% | 76.52% | 77.35% | 78.68% | 74.66% | 76.23% | 87.56% | 97.95% | 87.92% | 77.97% | 80.96% | 76.61% | 74.76% | 77.17% | 80.32% | 63.04% | 57.96% | 74.42% | 68.22% | 56.49% | 72.36% |
| Gross Profit | -12.3M | -192.19M | -56.38M | 6.45M | -14.77M | 23.89M | 17.92M | 60.36M | 25.59M | 8.93M | 35.06M | 35.95M | 20.09M | 21.67M | 32.23M | 23.43M | 9.92M | 1.84M | 14.06M | 29.7M | 14.74M | 12.98M | 13.14M | 11.02M | 9.68M | 23.28M | 24.88M | 11.1M | 13.6M | 20.1M | 9.7M |
| Gross Margin % | -72.05% | -436.15% | -120.88% | 16.18% | -16.06% | 22.01% | 19.37% | 49.37% | 31.49% | 6.88% | 24.31% | 23.48% | 22.65% | 21.32% | 25.34% | 23.77% | 12.44% | 2.05% | 12.08% | 22.03% | 19.04% | 23.39% | 25.24% | 22.83% | 19.68% | 36.96% | 42.04% | 25.58% | 31.78% | 43.51% | 27.64% |
| Gross Profit Growth % | - | -240.87% | -974.7% | 143.66% | -161.8% | 33.34% | -70.31% | 135.85% | 186.6% | -74.53% | -2.49% | 78.96% | -7.31% | -32.76% | 37.55% | 136.15% | 439.88% | -86.92% | -52.67% | 101.49% | 13.52% | -1.16% | 19.2% | 13.88% | -58.42% | -6.45% | 124.14% | -18.38% | -32.34% | 107.22% | -43.27% |
| Operating Expenses | 11.26M | 11.71M | 11.07M | 10.64M | 10.08M | 9.45M | 11M | 15.15M | 15.06M | 15.02M | 13.21M | 16.89M | 12.23M | 9.74M | 8.49M | 8.2M | 6.46M | 9.1M | 11.48M | 13.47M | 11.76M | 10.66M | 6.47M | 6.32M | 10.81M | 5.47M | 4.42M | 3.5M | 3.4M | 3M | 2.8M |
| OpEx % of Revenue | - | 26.57% | 23.74% | 26.71% | 10.96% | 8.71% | 11.89% | 12.39% | 18.53% | 11.57% | 9.16% | 11.03% | 13.8% | 9.58% | 6.68% | 8.31% | 8.09% | 10.16% | 9.86% | 9.99% | 15.19% | 19.21% | 12.43% | 13.09% | 21.97% | 8.69% | 7.46% | 8.06% | 7.94% | 6.49% | 7.98% |
| Selling, General & Admin | 11.36M | 11.71M | 11.07M | 10.64M | 10.08M | 9.45M | 11M | 15.15M | 15.06M | 15.02M | 13.21M | 16.89M | 12.23M | 9.74M | 8.49M | 8.2M | 6.46M | 9.1M | 11.48M | 13.47M | 11.76M | 10.66M | 6.47M | 6.32M | 10.81M | 5.47M | 4.42M | 3.5M | 3.4M | 3M | 2.8M |
| SG&A % of Revenue | - | 26.57% | 23.74% | 26.71% | 10.96% | 8.71% | 11.89% | 12.39% | 18.53% | 11.57% | 9.16% | 11.03% | 13.8% | 9.58% | 6.68% | 8.31% | 8.09% | 10.16% | 9.86% | 9.99% | 15.19% | 19.21% | 12.43% | 13.09% | 21.97% | 8.69% | 7.46% | 8.06% | 7.94% | 6.49% | 7.98% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -98K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -55K | -6K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -23.56M | -203.9M | -67.45M | -4.2M | -24.84M | 14.44M | 6.92M | 45.21M | 10.54M | -6.09M | 21.85M | 19.06M | 7.86M | 11.94M | 23.74M | 15.24M | 3.46M | -7.26M | 2.58M | 16.23M | 2.98M | 2.32M | 6.67M | 4.7M | -1.13M | 17.8M | 20.46M | 7.6M | 10.2M | 17.1M | 6.9M |
| Operating Margin % | -138.02% | -462.72% | -144.62% | -10.53% | -27.02% | 13.3% | 7.48% | 36.98% | 12.96% | -4.69% | 15.15% | 12.45% | 8.86% | 11.74% | 18.67% | 15.45% | 4.34% | -8.11% | 2.22% | 12.04% | 3.85% | 4.18% | 12.81% | 9.74% | -2.29% | 28.27% | 34.58% | 17.51% | 23.83% | 37.01% | 19.66% |
| Operating Income Growth % | - | -202.28% | -1507.2% | 83.11% | -272.05% | 108.64% | -84.69% | 329.18% | 272.88% | -127.9% | 14.62% | 142.6% | -34.18% | -49.73% | 55.82% | 339.74% | 147.74% | -381.43% | -84.11% | 444.2% | 28.48% | -65.19% | 41.76% | 517.1% | -106.33% | -13% | 169.27% | -25.49% | -40.35% | 147.83% | -52.74% |
| EBITDA | -4.96M | -27.26M | -52.44M | 11.29M | -9.62M | 29.56M | 21.2M | 58.82M | 24.29M | 9.13M | 37.23M | 33.7M | 15.74M | 21.61M | 32.17M | 22.56M | 10.69M | 286K | 10.9M | 25M | 11.57M | 9.28M | 13.18M | 11.43M | 5.85M | 24.75M | 25.58M | 13M | 14.9M | 21.3M | 11M |
| EBITDA Margin % | -29.05% | -61.87% | -112.44% | 28.33% | -10.46% | 27.23% | 22.92% | 48.11% | 29.89% | 7.03% | 25.82% | 22.01% | 17.74% | 21.26% | 25.29% | 22.89% | 13.39% | 0.32% | 9.36% | 18.54% | 14.94% | 16.71% | 25.31% | 23.66% | 11.9% | 39.3% | 43.23% | 29.95% | 34.81% | 46.1% | 31.34% |
| EBITDA Growth % | 88.48% | 48.02% | -564.52% | 217.42% | -132.52% | 39.42% | -63.95% | 142.13% | 166% | -75.47% | 10.48% | 114.13% | -27.18% | -32.83% | 42.58% | 111.15% | 3636.36% | -97.38% | -56.41% | 116.02% | 24.73% | -29.58% | 15.32% | 95.16% | -76.34% | -3.26% | 96.79% | -12.75% | -30.05% | 93.64% | -41.49% |
| D&A (Non-Cash Add-back) | 18.6M | 176.64M | 15.01M | 15.49M | 15.23M | 15.12M | 14.28M | 13.6M | 13.76M | 15.23M | 15.38M | 14.64M | 7.88M | 9.68M | 8.43M | 7.33M | 7.22M | 7.54M | 8.32M | 8.77M | 8.59M | 6.96M | 6.51M | 6.72M | 6.98M | 6.95M | 5.12M | 5.4M | 4.7M | 4.2M | 4.1M |
| EBIT | 3.49M | -181.08M | 14.49M | 7.37M | 16.28M | 50.37M | 37.36M | 57.41M | 21.71M | -4.05M | 21.85M | 19.5M | 12.75M | 13.75M | 31.08M | 15.92M | 5.05M | 1.94M | 11.4M | 16.96M | 2.98M | 2.32M | 6.67M | 4.7M | -1.13M | 17.8M | 20.46M | 7.61M | 10.22M | 17.1M | 6.8M |
| Net Interest Income | -2.77M | -4.05M | -3.15M | -4.85M | -3.3M | -3.96M | -5.88M | -7.13M | -8.52M | -9.29M | -9.89M | -8.36M | -2.24M | -553K | -1.52M | -3.4M | -6.88M | -4.84M | -6.57M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 1.99M | 793K | 385K | 58K | 21K | 23K | 98K | 49K | 39K | 0 | 0 | 59K | 131K | 704K | 97K | 0 | 0 | 594K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 4.76M | 4.85M | 3.54M | 4.91M | 3.32M | 3.99M | 5.98M | 7.18M | 8.56M | 9.29M | 9.89M | 8.37M | 2.37M | 1.26M | 1.62M | 2.02M | 6.88M | 5.43M | 6.57M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 500K | 9.1M | 0 | 100K |
| Other Income/Expense | 22.29M | 17.97M | 78.41M | 6.66M | 37.8M | 31.95M | 24.46M | 5.02M | 2.65M | -7.25M | -9.37M | 5.12M | 3.93M | 19.74M | 5.72M | -2.71M | -5.29M | 3.77M | 2.26M | 2.44M | 9.7M | 6.92M | 21.13M | 14.38M | 10.92M | 2.31M | 110.56K | -505.44K | 775.81K | 800K | -100K |
| Pretax Income | -1.27M | -185.93M | 10.95M | 2.46M | 12.96M | 46.39M | 31.38M | 50.23M | 13.19M | -13.34M | 12.48M | 26.64M | 11.78M | 31.68M | 29.46M | 12.53M | -1.82M | -3.49M | 4.84M | 19.4M | 12.68M | 9.24M | 27.8M | 19.08M | 9.79M | 20.11M | 20.57M | 7.1M | 1.1M | 17.8M | 6.8M |
| Pretax Margin % | -7.45% | -421.94% | 23.48% | 6.17% | 14.09% | 42.73% | 33.92% | 41.09% | 16.23% | -10.28% | 8.65% | 17.4% | 13.29% | 31.16% | 23.16% | 12.71% | -2.29% | -3.89% | 4.16% | 14.39% | 16.38% | 16.64% | 53.4% | 39.52% | 19.91% | 31.93% | 34.77% | 16.36% | 2.57% | 38.53% | 19.37% |
| Income Tax | -2.02M | -38.42M | 4.6M | 801K | 1.07M | 11.57M | 7.66M | 12.78M | 390K | -3.85M | 5.52M | 10.9M | 3.73M | 12.03M | 10.97M | 5.43M | -1.2M | 162K | -765K | 33.25M | 6.21M | 3.15M | 9.99M | 6.42M | 2.26M | 4.05M | 6.46M | 3M | 4.2M | 6.7M | 2.4M |
| Effective Tax Rate % | 159.32% | 20.67% | 41.97% | 32.57% | 8.25% | 24.94% | 24.42% | 25.45% | 2.96% | 28.83% | 44.24% | 40.94% | 31.68% | 37.98% | 37.24% | 43.35% | 65.84% | -4.65% | -15.81% | 171.35% | 49% | 34.08% | 35.92% | 33.67% | 23.06% | 20.12% | 31.42% | 42.25% | 381.82% | 37.64% | 35.29% |
| Net Income | 1.53M | -147.33M | 6.97M | 1.83M | 12.46M | 34.86M | 23.66M | 37.83M | 13.05M | -9.45M | 6.99M | 15.76M | 8.05M | 19.65M | 18.49M | 7.1M | -623K | -3.65M | 4.71M | -13.84M | 6.47M | 6.09M | 17.81M | 12.66M | 7.54M | 16.07M | 14.11M | 4.1M | 6.8M | 11.2M | 4.4M |
| Net Margin % | 8.98% | -334.35% | 14.95% | 4.61% | 13.55% | 32.11% | 25.58% | 30.95% | 16.06% | -7.28% | 4.85% | 10.3% | 9.08% | 19.32% | 14.54% | 7.2% | -0.78% | -4.08% | 4.05% | -10.27% | 8.35% | 10.97% | 34.22% | 26.22% | 15.32% | 25.51% | 23.85% | 9.45% | 15.89% | 24.24% | 12.54% |
| Net Income Growth % | 100.98% | -2212.92% | 280% | -85.27% | -64.26% | 47.32% | -37.46% | 189.91% | 238.08% | -235.15% | -55.64% | 95.83% | -59.02% | 6.26% | 160.52% | 1239.17% | 82.93% | -177.42% | 134.04% | -314.01% | 6.22% | -65.81% | 40.71% | 68% | -53.1% | 13.86% | 244.16% | -39.71% | -39.29% | 154.55% | -50.56% |
| Net Income (Continuing) | 754K | -147.51M | 6.36M | 1.66M | 11.89M | 34.82M | 23.71M | 37.45M | 12.8M | -9.5M | 6.96M | 13.18M | 8.05M | 19.65M | 18.49M | 7.1M | -623K | -3.65M | 5.6M | -13.84M | 6.47M | 6.09M | 17.81M | 12.66M | 7.54M | 16.07M | 14.11M | 4.1M | 6.78M | 11.2M | 4.4M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 4.96M | 5.14M | 5.39M | 5.12M | 5.4M | 5.44M | 5.09M | 5.48M | 4.73M | 4.77M | 4.81M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.21 | -19.29 | 0.91 | 0.24 | 1.65 | 4.64 | 3.16 | 5.05 | 1.57 | -1.14 | 0.84 | 1.96 | 1.09 | 2.67 | 2.51 | 0.96 | -0.08 | -0.49 | 0.64 | -1.88 | 0.88 | 0.83 | 2.44 | 1.74 | 1.07 | 2.28 | 2.01 | 0.58 | 0.96 | 1.59 | 0.63 |
| EPS Growth % | 101.02% | -2219.78% | 279.17% | -85.45% | -64.44% | 46.84% | -37.43% | 221.66% | 237.72% | -235.71% | -57.14% | 79.82% | -59.18% | 6.37% | 161.46% | 1236.09% | 82.76% | -176.56% | 134.04% | -313.64% | 6.02% | -65.98% | 40.23% | 62.62% | -53.07% | 13.43% | 246.55% | -39.58% | -39.62% | 152.38% | -50.39% |
| EPS (Basic) | - | -19.29 | 0.91 | 0.24 | 1.65 | 4.64 | 3.16 | 5.06 | 1.59 | -1.14 | 0.84 | 1.96 | 1.10 | 2.69 | 2.51 | 0.96 | -0.08 | -0.49 | 0.64 | -1.88 | 0.88 | 0.83 | 2.47 | 1.78 | 1.07 | 2.29 | 2.01 | 0.58 | 0.96 | 1.59 | 0.63 |
| Diluted Shares Outstanding | 7.44M | 7.64M | 7.62M | 7.6M | 7.57M | 7.52M | 7.5M | 7.49M | 8.3M | 8.3M | 8.31M | 8.06M | 7.35M | 7.36M | 7.36M | 7.36M | 7.37M | 7.38M | 7.38M | 7.37M | 7.38M | 7.35M | 7.29M | 7.26M | 7.15M | 7.06M | 7.03M | 7.03M | 7.03M | 7.04M | 6.98M |
| Basic Shares Outstanding | 7.42M | 7.64M | 7.62M | 7.6M | 7.56M | 7.52M | 7.48M | 7.47M | 8.23M | 8.29M | 8.3M | 8.06M | 7.34M | 7.31M | 7.36M | 7.36M | 7.37M | 7.38M | 7.37M | 7.37M | 7.37M | 7.33M | 7.22M | 7.11M | 7.07M | 7.03M | 7.03M | 7.03M | 7.03M | 7.04M | 6.98M |
| Dividend Payout Ratio | - | - | 21.86% | 268.83% | 121.21% | 20.48% | 10.42% | 4.84% | 15.11% | - | 28.5% | 11.91% | 34.55% | 10.42% | 9.54% | 10.38% | - | - | 172.8% | - | 113.93% | 121% | 24.05% | 19.61% | 93.68% | 43.74% | 14.94% | 85.37% | 61.76% | 9.82% | 56.82% |
Quick answers to the most common questions about buying ALCO stock.
For fiscal year 2025, Alico, Inc. (ALCO) reported total revenue of $44.1M. This represents a 25.5% increase compared to $35.1M in 1996.
Alico, Inc. (ALCO) reported a net loss of $147.3M for the fiscal year ending 2025.
Alico, Inc. (ALCO) reported an operating income of $-203.9M, resulting in an operating profit margin of -462.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Alico, Inc. (ALCO) generated $-192.2M in gross profit for the year, representing a gross profit margin of -436.2%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Operational viability of citrus
Metrics are mathematically derived from official filings.
Persistent Revenue Contraction Trends
As reported in recent financial filings, Alico's revenue has experienced a severe downward trajectory, with the most recent quarter showing a 70.3% year-over-year decline to $5.3 million, reflecting the company's inability to maintain consistent production volumes amidst ongoing environmental and biological challenges in Florida.
The sharp revenue volatility suggests that the company is highly susceptible to seasonal harvest timing and the compounding effects of citrus greening disease. Investors should monitor whether the current revenue levels represent a new, lower baseline or if the business remains in a state of structural decline.
Structural Margin Erosion and Impairment
Based on the company's reported figures, gross margins have remained consistently negative, reaching an extreme low of -436.15% in prior periods, which indicates that the cost of maintaining groves significantly exceeds the market value of the fruit produced by the company's assets.
This margin profile suggests that the core citrus operations are currently failing to cover their own variable costs, let alone fixed overhead. The persistence of these negative margins warrants further investigation into whether the company's biological assets are being systematically impaired or if the cost structure is fundamentally misaligned with current commodity pricing.
Fixed Cost Burden Outpacing Revenue
According to the income statement data, Alico continues to incur substantial SG&A expenses, often exceeding $3 million per quarter, even as top-line revenue has collapsed to less than $1 million in certain periods, highlighting a lack of operational flexibility in the current cost structure.
The inability to scale SG&A downward in proportion to revenue suggests a rigid cost base that may be necessary for land maintenance but is currently unsustainable. This expense discipline, or lack thereof, implies that the company is prioritizing long-term asset preservation over short-term operational efficiency.
Asset Value Versus Operational Reality
While the income statement reflects a distressed agricultural producer, the company's low debt-to-equity ratio of 0.79% suggests that the firm is not in immediate financial distress, potentially masking a pivot toward land liquidation rather than a recovery in citrus production.
Short-sellers may focus on the persistent operating losses as evidence of a terminal business model, yet this view may ignore the potential for non-agricultural land monetization. The disconnect between the negative earnings and the company's asset-heavy balance sheet suggests that the market may be valuing the land bank rather than the underlying citrus business.