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TreeHouse Foods, Inc. (THS) 10-Year Financial Performance & Capital Metrics

THS • • Industrial / General
Consumer DefensivePackaged FoodsTraditional Packaged FoodsContract Manufacturing & Private Label
AboutTreeHouse Foods, Inc. manufactures and distributes private label foods and beverages in the United States and internationally. It operates through two segments, Meal Preparation, and Snacking & Beverages. The Meal Preparation segment provides aseptic cheese and pudding products; baking and mix powders; hot cereals; jams, preserves, and jellies; liquid and powdered non-dairy creamers; macaroni and cheese; mayonnaise; Mexican, barbeque, and other sauces; pastas; pickles and related products; powdered soups and gravies; refrigerated and shelf stable dressings and sauces; refrigerated dough; single serve hot beverages; skillet dinners; and table and flavored syrups. The Snacking & Beverages segment offers bars, broths, candies, cookies, crackers, in-store bakery products, pita chips, powdered drinks, pretzels, ready-to-drink coffee, retail griddle waffles, pancakes, French toasts, specialty teas, and sweeteners. The company sells its products through various distribution channels, including retailers, foodservice distributors, and co-manufacturers, as well as industrial and export, which includes food manufacturers and repackagers of foodservice products. TreeHouse Foods, Inc. was founded in 1862 and is based in Oak Brook, Illinois.Show more
  • Revenue $3.35B -2.3%
  • EBITDA $250M -13.4%
  • Net Income $27M -49.3%
  • EPS (Diluted) 0.51 -45.7%
  • Gross Margin 16.35% -2.6%
  • EBITDA Margin 7.46% -11.4%
  • Operating Margin 3.07% -28.2%
  • Net Margin 0.8% -48.2%
  • ROE 1.67% -47.2%
  • ROIC 2.68% -24.8%
  • Debt/Equity 1.01 +5.2%
  • Interest Coverage 1.63 -17.2%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Share count reduced 6.7% through buybacks
  • ✓Trading at only 0.8x book value

✗Weaknesses

  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.31%
5Y-4.8%
3Y6.02%
TTM-0.69%

Profit (Net Income) CAGR

10Y-11.36%
5Y-
3Y-
TTM-895.06%

EPS CAGR

10Y-13.72%
5Y-
3Y-
TTM-920.79%

ROCE

10Y Avg1.7%
5Y Avg1.88%
3Y Avg2.36%
Latest3.11%

Peer Comparison

Contract Manufacturing & Private Label
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
THSTreeHouse Foods, Inc.1.22B24.1047.25-2.26%-7.25%-19.15%10.36%1.01
NAIINatural Alternatives International, Inc.28.66M4.64-2.0414.12%-14.4%-27.49%8.09%0.86

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+3.21B6.18B4.85B4.59B4.29B4.35B2.81B3.3B3.43B3.35B
Revenue Growth %0.09%0.93%-0.21%-0.05%-0.07%0.01%-0.35%0.17%0.04%-0.02%
Cost of Goods Sold+2.56B5.05B3.87B3.7B3.49B3.55B2.34B2.77B2.86B2.81B
COGS % of Revenue0.8%0.82%0.8%0.81%0.81%0.82%0.83%0.84%0.83%0.84%
Gross Profit+644.3M1.13B978.1M892.2M796.8M802.2M471.6M522.4M576.1M548.4M
Gross Margin %0.2%0.18%0.2%0.19%0.19%0.18%0.17%0.16%0.17%0.16%
Gross Profit Growth %0.06%0.75%-0.13%-0.09%-0.11%0.01%-0.41%0.11%0.1%-0.05%
Operating Expenses+404.6M1.22B898.9M808.8M812.9M653.1M515.8M535M429.2M445.3M
OpEx % of Revenue0.13%0.2%0.19%0.18%0.19%0.15%0.18%0.16%0.13%0.13%
Selling, General & Admin342.2M744.8M629.2M592.9M510.1M511.3M384.6M424.3M375.7M351.3M
SG&A % of Revenue0.11%0.12%0.13%0.13%0.12%0.12%0.14%0.13%0.11%0.1%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses62.4M476.8M269.7M215.9M302.8M141.8M131.2M110.7M53.5M94M
Operating Income+239.7M-95.5M79.2M83.4M-16.1M149.1M-44.2M-12.6M146.9M103.1M
Operating Margin %0.07%-0.02%0.02%0.02%-0%0.03%-0.02%-0%0.04%0.03%
Operating Income Growth %0.1%-1.4%1.83%0.05%-1.19%10.26%-1.3%0.71%12.66%-0.3%
EBITDA+361.8M192.8M312.1M308.6M194.5M352.3M99.2M127M288.8M250.2M
EBITDA Margin %0.11%0.03%0.06%0.07%0.05%0.08%0.04%0.04%0.08%0.07%
EBITDA Growth %0.08%-0.47%0.62%-0.01%-0.37%0.81%-0.72%0.28%1.27%-0.13%
D&A (Non-Cash Add-back)122.1M288.3M232.9M225.2M210.6M203.2M143.4M139.6M141.9M147.1M
EBIT216.7M-76.2M93.9M47.8M-53.4M121.9M-14.1M71M158.2M96.5M
Net Interest Income+-42.5M-114.47M-122.4M-105.4M-102.4M-104.8M-67.4M-54.4M-34.7M-59.2M
Interest Income3M3.98M00004.7M15.5M40.1M4.2M
Interest Expense45.5M118.45M122.4M105.4M102.4M104.8M72.1M69.9M74.8M63.4M
Other Income/Expense-68.5M-99.9M-107.7M-141M-139.7M-132M-42M13.7M-63.5M-70M
Pretax Income+171.2M-195.4M-28.5M-57.6M-155.8M17.1M-86.2M1.1M83.4M33.1M
Pretax Margin %0.05%-0.03%-0.01%-0.01%-0.04%0%-0.03%0%0.02%0.01%
Income Tax+56.3M33.2M-139.8M-11.4M-45.5M-32.1M-17.6M10.3M24.4M6.2M
Effective Tax Rate %0.67%1.17%9.81%1.12%2.32%0.81%0.15%-133%0.64%0.81%
Net Income+114.9M-228.6M-279.5M-64.4M-361M13.8M-12.5M-146.3M53.1M26.9M
Net Margin %0.04%-0.04%-0.06%-0.01%-0.08%0%-0%-0.04%0.02%0.01%
Net Income Growth %0.28%-2.99%-0.22%0.77%-4.61%1.04%-1.91%-10.7%1.36%-0.49%
Net Income (Continuing)114.9M-228.6M111.3M-46.2M-110.3M49.2M-68.6M-9.2M59M26.9M
Discontinued Operations00-390.8M-18.2M-250.7M-35.4M56.1M-137.1M-5.9M0
Minority Interest0000000000
EPS (Diluted)+2.63-4.10-5.01-1.10-6.420.24-0.22-2.610.940.51
EPS Growth %0.18%-2.56%-0.22%0.78%-4.84%1.04%-1.92%-10.86%1.36%-0.46%
EPS (Basic)2.67-4.10-5.01-1.10-6.420.24-0.22-2.610.950.52
Diluted Shares Outstanding43.71M55.72M57.1M56M56.2M56.7M55.9M56M56.4M52.6M
Basic Shares Outstanding43.05M55.72M57.1M56M56.2M56.5M55.9M56M55.8M52.2M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+847.2M1.56B1.48B1.68B1.22B1.43B2.18B839.4M1.05B1.01B
Cash & Short-Term Investments43.31M72.5M132.8M164.3M202.3M364.6M304.5M43M320.3M289.6M
Cash Only34.92M62.1M132.8M164.3M202.3M364.6M304.5M43M320.3M289.6M
Short-Term Investments8.39M10.4M00000000
Accounts Receivable203.2M429M329.8M351.3M270.6M308.8M151.3M158.8M175.6M146.8M
Days Sales Outstanding23.1325.3624.8127.9523.0325.9119.6217.5818.6815.98
Inventory584.12M978M918.3M615.6M544M598.6M461.6M554M534M539.3M
Days Inventory Outstanding83.2170.786.5160.856.8661.5971.9272.8868.2670.16
Other Current Assets03.6M0485.8M158.1M70.7M1.2B83.6M24.9M34M
Total Non-Current Assets+2.86B4.99B4.29B3.95B3.92B4.06B3.03B3.41B3.05B2.97B
Property, Plant & Equipment541.53M1.36B1.29B1.14B1.22B1.23B838.2M826M930.6M903M
Fixed Asset Turnover5.92x4.54x3.75x4.02x3.51x3.53x3.36x3.99x3.69x3.71x
Goodwill1.65B2.45B2.18B2.11B2.11B2.18B1.82B1.82B1.82B1.82B
Intangible Assets646.65M1.14B773M656.4M554.7M615M336.6M296M257.4M212.9M
Long-Term Investments00000000018.9M
Other Non-Current Assets17.62M41M45.2M44.7M37.4M32.5M28.6M474.9M39.1M16.2M
Total Assets+3.7B6.55B5.78B5.63B5.14B5.49B5.21B4.25B4.11B3.98B
Asset Turnover0.87x0.94x0.84x0.81x0.83x0.79x0.54x0.78x0.84x0.84x
Asset Growth %-0.04%0.77%-0.12%-0.03%-0.09%0.07%-0.05%-0.18%-0.03%-0.03%
Total Current Liabilities+275.47M693.2M599.8M837.6M813.4M990.7M1.16B827.8M704.3M744.9M
Accounts Payable202.06M458.1M451.3M577.9M508.4M627.7M625.9M618.7M534.9M602.5M
Days Payables Outstanding28.7933.1242.5257.0853.1464.5897.5281.3968.3778.38
Short-Term Debt14.89M66.4M10.1M1.2M15.3M15.7M15.4M600K400K1.1M
Deferred Revenue (Current)0000000000
Other Current Liabilities9.33M17.2M28.7M55.9M97.6M125M356.5M17.9M24.1M17.8M
Current Ratio3.08x2.25x2.48x2.00x1.50x1.44x1.89x1.01x1.50x1.36x
Quick Ratio0.96x0.84x0.94x1.27x0.83x0.84x1.49x0.34x0.74x0.63x
Cash Conversion Cycle77.5662.9468.831.6726.7522.92-5.989.0718.567.75
Total Non-Current Liabilities+1.57B3.35B2.92B2.63B2.5B2.63B2.2B1.74B1.74B1.69B
Long-Term Debt1.22B2.72B2.54B2.3B2.09B2.2B1.89B1.39B1.4B1.4B
Capital Lease Obligations0000158.5M144.5M119M159.1M165M125.4M
Deferred Tax Liabilities279.11M422.2M178.4M166.1M101.5M158.3M105.1M108.7M111.4M105.8M
Other Non-Current Liabilities71.61M202.3M202.1M168.2M143.4M128.2M90.6M77.3M65.1M53.7M
Total Liabilities1.85B4.04B3.52B3.47B3.31B3.62B3.36B2.57B2.44B2.43B
Total Debt+1.24B2.79B2.55B2.3B2.3B2.39B2.06B1.59B1.6B1.57B
Net Debt1.2B2.73B2.41B2.13B2.1B2.03B1.75B1.55B1.28B1.28B
Debt / Equity0.67x1.11x1.12x1.06x1.25x1.28x1.11x0.94x0.96x1.01x
Debt / EBITDA3.42x14.48x8.16x7.45x11.81x6.79x20.74x12.54x5.55x6.27x
Net Debt / EBITDA3.32x14.16x7.73x6.92x10.77x5.76x17.67x12.20x4.44x5.11x
Interest Coverage5.27x-0.81x0.65x0.79x-0.16x1.42x-0.61x-0.18x1.96x1.63x
Total Equity+1.85B2.5B2.26B2.16B1.83B1.86B1.85B1.69B1.66B1.55B
Equity Growth %0.05%0.35%-0.1%-0.05%-0.15%0.02%-0.01%-0.09%-0.01%-0.07%
Book Value per Share42.4444.9339.6438.5732.5832.8933.0130.1329.5229.45
Total Shareholders' Equity1.85B2.5B2.26B2.16B1.83B1.86B1.85B1.69B1.66B1.55B
Common Stock431K567K600K600K600K600K600K600K600K600K
Retained Earnings760.73M532.13M245.9M204M-157M-143.2M-155.7M-302M-248.9M-222M
Treasury Stock00-28.7M-83.3M-83.3M-108.3M-133.3M-133.3M-234.2M-385.4M
Accumulated OCI-113.47M-101.28M-61.5M-97.1M-84M-64M-53.6M-83.7M-76.1M-82.7M
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+285.32M478.61M506M505.8M307.7M416.7M324.9M-150.7M157.3M265.8M
Operating CF Margin %0.09%0.08%0.1%0.11%0.07%0.1%0.12%-0.05%0.05%0.08%
Operating CF Growth %0.35%0.68%0.06%-0%-0.39%0.35%-0.22%-1.46%2.04%0.69%
Net Income114.91M-228.59M-286.2M-61.4M-110.3M49.2M-80.9M-9.2M59M26.9M
Depreciation & Amortization122.07M288.24M287.6M258.3M210.6M203.2M148.9M139.6M141.9M147.1M
Stock-Based Compensation22.88M29.86M30M32.4M22.6M26.1M0024.8M19.1M
Deferred Taxes-6.01M-12.45M-231.1M-17.3M-63.3M63.4M-12.4M9.1M3.5M-7.5M
Other Non-Cash Items22.24M332.42M637.6M27.4M219.4M50.4M187.2M-150.1M11.7M26.8M
Working Capital Changes9.23M69.14M68.1M266.4M28.7M24.4M82.1M-140.1M-83.6M53.4M
Change in Receivables21.53M-59.7M103.3M-29.1M80.6M-36.2M61.3M-8.9M-15.2M28.1M
Change in Inventory17K54.32M13M69.2M65.5M-30.8M-58M-128.3M51.6M-10.5M
Change in Payables-33.27M86.15M-29.3M187.9M-80.9M108.3M126.1M-14.8M-82.4M66M
Cash from Investing+-86.32M-2.83B-159.8M-160.9M-68.1M-332.4M-16.8M412M226.7M-138.3M
Capital Expenditures-86.1M-187.07M-185.8M-196.2M-146.8M-90.5M-86.1M-93.5M-137M-139.7M
CapEx % of Revenue0.03%0.03%0.04%0.04%0.03%0.02%0.03%0.03%0.04%0.04%
Acquisitions----------
Investments----------
Other Investing606K53K34.5M4.5M73.9M-12.1M51.7M500.7M464.3M1.4M
Cash from Financing+-208.56M2.38B-278.3M-311M-206.9M74M-362.3M-522.7M-107.5M-159.3M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing6.74M800.73M300K-2.5M-5M-9.3M-8.6M-4.6M-6.9M-8.7M
Net Change in Cash----------
Free Cash Flow+199.22M291.54M320.2M309.6M160.9M311M253.3M-236.5M16.5M126.1M
FCF Margin %0.06%0.05%0.07%0.07%0.04%0.07%0.09%-0.07%0%0.04%
FCF Growth %0.77%0.46%0.1%-0.03%-0.48%0.93%-0.19%-1.93%1.07%6.64%
FCF per Share4.565.235.615.532.865.494.53-4.220.292.40
FCF Conversion (FCF/Net Income)2.48x-2.09x-1.81x-7.85x-0.85x30.20x-25.99x1.03x2.96x9.88x
Interest Paid41.9M93M115.4M0084.3M0093.7M85.2M
Taxes Paid50.1M60.2M12.4M0000019.3M10.2M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)6.36%-10.49%-11.73%-2.91%-18.09%0.75%-0.67%-8.28%3.17%1.67%
Return on Invested Capital (ROIC)5.79%-1.73%1.2%1.39%-0.29%2.86%-0.89%-0.28%3.56%2.68%
Gross Margin20.09%18.24%20.16%19.45%18.58%18.44%16.76%15.84%16.79%16.35%
Net Margin3.58%-3.7%-5.76%-1.4%-8.42%0.32%-0.44%-4.44%1.55%0.8%
Debt / Equity0.67x1.11x1.12x1.06x1.25x1.28x1.11x0.94x0.96x1.01x
Interest Coverage5.27x-0.81x0.65x0.79x-0.16x1.42x-0.61x-0.18x1.96x1.63x
FCF Conversion2.48x-2.09x-1.81x-7.85x-0.85x30.20x-25.99x1.03x2.96x9.88x
Revenue Growth8.84%92.59%-21.42%-5.46%-6.52%1.42%-35.3%17.16%4.08%-2.26%

Revenue by Segment

2015201620172018201920202021202220232024
Snacking-------1.39B1.3B1.27B
Snacking Growth---------6.56%-1.93%
Meal Preparation-----2.7B2.74B---
Meal Preparation Growth------1.34%---
Snacking And Beverages-----1.65B1.59B---
Snacking And Beverages Growth-------3.61%---
Meals----1.87B-----
Meals Growth----------
Baked Goods----1.47B-----
Baked Goods Growth----------
Beverages----952.4M-----
Beverages Growth----------
Condiments----262.9M-----
Condiments Growth----------
Baked Goods---1.39B------
Baked Goods Growth----------
Condiments---1.25B------
Condiments Growth----------
Snacks657.99M--1.13B------
Snacks Growth----------
Meals---1.04B------
Meals Growth----------
Beverages433.83M492.19M745.4M1.01B------
Beverages Growth-13.45%51.45%35.28%------
Dressings And Sauces--979M-------
Dressings And Sauces Growth----------
Snack Nuts-1.33B911.2M-------
Snack Nuts Growth---31.72%-------
Retail Bakery-662.72M713.7M-------
Retail Bakery Growth--7.69%-------
Baked Products--690.2M-------
Baked Products Growth----------
Cereals And Other Meals--617.4M-------
Cereals And Other Meals Growth----------
Pasta And Dry Dinners--571.8M-------
Pasta And Dry Dinners Growth----------
Trail Mix And Bars--428.8M-------
Trail Mix And Bars Growth----------
Beverages Enhancers338.19M313.27M328M-------
Beverages Enhancers Growth--7.37%4.70%-------
Pickles316.18M318.07M321.6M-------
Pickles Growth-0.60%1.11%-------
Cookies and Crackers-607.86M--------
Cookies and Crackers Growth----------
Cereals-551.57M--------
Cereals Growth----------
Pasta and Dry Dinners-543.81M--------
Pasta and Dry Dinners Growth----------
Salad Dressing351.58M376.32M--------
Salad Dressing Growth-7.04%--------
Soup and Infant Feeding381.44M372.75M--------
Soup and Infant Feeding Growth--2.28%--------
Sauces-336.19M--------
Sauces Growth----------
Jams and Other Sauces51.2M107.82M--------
Jams and Other Sauces Growth-110.57%--------
Aseptic Products107.72M101.38M--------
Aseptic Products Growth--5.88%--------
Other products62.04M56.72M--------
Other products Growth--8.57%--------
Mexican And Other Sauces222.87M---------
Mexican And Other Sauces Growth----------
Hot Cereals159.76M---------
Hot Cereals Growth----------
Dry Dinners123.6M---------
Dry Dinners Growth----------

Revenue by Geography

2015201620172018201920202021202220232024
North American Retail Grocery2.44B5.09B--------
North American Retail Grocery Growth-108.92%--------

Frequently Asked Questions

Valuation & Price

TreeHouse Foods, Inc. (THS) has a price-to-earnings (P/E) ratio of 47.3x. This suggests investors expect higher future growth.

Growth & Financials

TreeHouse Foods, Inc. (THS) reported $3.34B in revenue for fiscal year 2024. This represents a 63% increase from $2.05B in 2011.

TreeHouse Foods, Inc. (THS) saw revenue decline by 2.3% over the past year.

TreeHouse Foods, Inc. (THS) reported a net loss of $241.8M for fiscal year 2024.

Dividend & Returns

TreeHouse Foods, Inc. (THS) has a return on equity (ROE) of 1.7%. This is below average, suggesting room for improvement.

TreeHouse Foods, Inc. (THS) generated $100.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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