Latest Ratios: P/E Ratio 27.7x · EV/EBITDA 22.5x · ROE 11.0%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.9B | $2.7B | $2.2B | $2.1B | $2.7B | $2.2B | $1.8B | $2.0B | $1.9B | $2.0B | $2.2B |
| Enterprise Value | $2.7B | $2.6B | $2.0B | $2.1B | $2.6B | $2.1B | $1.7B | $1.9B | $1.8B | $2.0B | $2.1B |
| P/E Ratio → | 27.72 | 26.74 | 25.08 | 23.81 | 36.37 | 34.09 | 30.57 | 31.34 | 33.68 | 25.07 | 32.64 |
| P/S Ratio | 3.89 | 3.65 | 3.01 | 2.76 | 3.90 | 3.92 | 3.84 | 3.88 | 3.67 | 3.93 | 4.21 |
| P/B Ratio | 2.94 | 2.84 | 2.50 | 2.58 | 3.43 | 2.91 | 2.37 | 2.69 | 2.54 | 2.78 | 3.09 |
| P/FCF | 29.58 | 27.72 | 17.98 | 31.32 | 55.08 | 41.50 | 31.86 | 25.58 | 25.97 | 77.60 | 26.63 |
| P/OCF | 21.82 | 20.45 | 15.65 | 22.45 | 37.22 | 26.21 | 24.20 | 20.41 | 18.87 | 47.49 | 22.28 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.49 | 2.83 | 2.68 | 3.85 | 3.76 | 3.50 | 3.64 | 3.47 | 3.76 | 4.00 |
| EV / EBITDA | 22.46 | 20.99 | 17.27 | 17.19 | 20.57 | 25.33 | 21.59 | 21.78 | 20.20 | 21.84 | 18.81 |
| EV / EBIT | 26.63 | 18.57 | 16.09 | 17.17 | 26.89 | 25.01 | 21.59 | 22.38 | 24.54 | 23.05 | 21.27 |
| EV / FCF | — | 26.54 | 16.95 | 30.43 | 54.26 | 39.83 | 29.08 | 23.97 | 24.57 | 74.24 | 25.28 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.5% | 35.5% | 35.0% | 33.4% | 33.9% | 34.9% | 36.2% | 37.4% | 36.3% | 37.0% | 38.2% |
| Operating Margin | 14.0% | 14.0% | 13.9% | 13.2% | 16.1% | 11.8% | 12.4% | 13.1% | 13.6% | 13.6% | 17.5% |
| Net Profit Margin | 13.7% | 13.7% | 12.0% | 11.9% | 11.1% | 11.4% | 12.5% | 12.3% | 11.0% | 15.6% | 13.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.0% | 11.0% | 10.3% | 11.4% | 9.8% | 8.5% | 7.7% | 8.6% | 7.7% | 11.2% | 9.6% |
| ROA | 8.3% | 8.3% | 7.8% | 8.7% | 7.5% | 6.5% | 6.0% | 6.7% | 6.1% | 8.7% | 7.4% |
| ROIC | 9.8% | 9.8% | 10.0% | 10.1% | 11.7% | 7.8% | 7.1% | 8.1% | 8.2% | 8.5% | 11.6% |
| ROCE | 9.3% | 9.3% | 9.8% | 10.6% | 11.9% | 7.2% | 6.4% | 7.8% | 8.0% | 8.2% | 10.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Debt / EBITDA | 0.11 | 0.11 | 0.12 | 0.13 | 0.10 | 0.19 | 0.12 | 0.11 | 0.09 | 0.09 | 0.07 |
| Net Debt / Equity | — | -0.12 | -0.14 | -0.07 | -0.05 | -0.12 | -0.21 | -0.17 | -0.14 | -0.12 | -0.16 |
| Net Debt / EBITDA | -0.93 | -0.93 | -1.05 | -0.50 | -0.31 | -1.06 | -2.06 | -1.47 | -1.16 | -0.99 | -1.00 |
| Debt / FCF | — | -1.18 | -1.03 | -0.89 | -0.82 | -1.67 | -2.78 | -1.61 | -1.41 | -3.36 | -1.35 |
| Interest Coverage | 308.02 | 308.02 | 250.26 | 356.77 | 944.66 | 1864.67 | 466.01 | 389.20 | 405.45 | 588.23 | 933.50 |
Net cash position: cash ($128M) exceeds total debt ($14M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.27 | 3.27 | 3.82 | 3.59 | 3.43 | 3.36 | 4.58 | 4.44 | 4.95 | 4.25 | 4.71 |
| Quick Ratio | 2.50 | 2.50 | 2.93 | 2.59 | 2.49 | 2.66 | 3.73 | 3.70 | 4.06 | 3.39 | 3.80 |
| Cash Ratio | 1.80 | 1.80 | 2.23 | 1.81 | 1.66 | 1.82 | 2.98 | 3.01 | 3.03 | 2.16 | 2.94 |
| Asset Turnover | — | 0.58 | 0.63 | 0.71 | 0.67 | 0.56 | 0.48 | 0.54 | 0.55 | 0.56 | 0.57 |
| Inventory Turnover | 6.28 | 6.28 | 6.06 | 5.40 | 5.39 | 6.69 | 5.05 | 5.59 | 6.07 | 5.97 | 5.60 |
| Days Sales Outstanding | — | 27.00 | 25.56 | 30.71 | 33.40 | 37.63 | 34.95 | 33.56 | 37.08 | 46.22 | 32.40 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.9% | 1.0% | 1.2% | 1.2% | 0.9% | 1.1% | 1.3% | 1.1% | 1.2% | 1.1% | 1.0% |
| Payout Ratio | 26.1% | 26.1% | 29.4% | 27.3% | 32.4% | 36.9% | 40.4% | 36.1% | 40.4% | 28.0% | 33.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.6% | 3.7% | 4.0% | 4.2% | 2.7% | 2.9% | 3.3% | 3.2% | 3.0% | 4.0% | 3.1% |
| FCF Yield | 3.4% | 3.6% | 5.6% | 3.2% | 1.8% | 2.4% | 3.1% | 3.9% | 3.9% | 1.3% | 3.8% |
| Buyback Yield | 0.2% | 0.2% | 0.6% | 1.6% | 1.2% | 1.4% | 1.8% | 1.7% | 1.0% | 1.7% | 1.3% |
| Total Shareholder Yield | 1.2% | 1.2% | 1.8% | 2.7% | 2.1% | 2.4% | 3.1% | 2.8% | 2.2% | 2.8% | 2.3% |
| Shares Outstanding | — | $73M | $73M | $72M | $73M | $74M | $75M | $76M | $74M | $75M | $76M |
Includes 30+ ratios · 30 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying TR stock.
Tootsie Roll Industries, Inc.'s current P/E ratio is 27.7x. The historical average is 26.5x. This places it at the 73th percentile of its historical range.
Tootsie Roll Industries, Inc.'s current EV/EBITDA is 22.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.9x.
Tootsie Roll Industries, Inc.'s return on equity (ROE) is 11.0%. The historical average is 11.0%.
Based on historical data, Tootsie Roll Industries, Inc. is trading at a P/E of 27.7x. This is at the 73th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Tootsie Roll Industries, Inc.'s current dividend yield is 0.94% with a payout ratio of 26.1%.
Tootsie Roll Industries, Inc. has 35.5% gross margin and 14.0% operating margin. Operating margin between 10-20% is typical for established companies.
Tootsie Roll Industries, Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Cocoa and sugar input cost spikes
Metrics are mathematically derived from official filings.
Margin Erosion Amid Input Cost Pressures
Gross margin declined to 34.1% in Q2 2026 from 36.4% a year earlier, according to reported financials, signaling persistent input cost pressure despite stable revenue.
The gross margin trend shows a clear inflection from a 39.1% peak in Q4 2024 to 34.1% in Q2 2026, indicating that rising sugar and cocoa costs are not being fully passed through to price-sensitive consumers. Operating margin swung to -1.0% in Q2 2026, reflecting weak fixed-cost absorption in off-peak quarters, though net margin remained positive at 8.7% due to non-operating gains. This suggests the core confectionery business is facing structural margin compression, with earnings quality increasingly reliant on non-operating income to offset operational weakness.
Modest Returns Masked by Seasonal Swings
ROIC ranged from -0.1% in Q2 2026 to 3.8% in Q4 2024, as per reported figures, indicating thin returns on invested capital that fluctuate sharply with seasonal demand.
The ten-quarter ROIC trend shows no clear compounding trajectory, with returns hovering in the low single digits and dipping negative in the latest quarter. ROE has similarly remained range-bound between 1.4% and 3.9%, suggesting that the company is not generating meaningful excess returns on its equity base. This appears consistent with a mature, low-growth business where capital is deployed conservatively, but it also implies that the current valuation multiples may not be justified by underlying return generation.
Working Capital Swings Distort Efficiency
Cash conversion cycle peaked at 122 days in Q2 2024 and remained elevated at 102 days in Q2 2026, based on reported data, reflecting seasonal inventory build and slow receivable collection.
The CCC is heavily influenced by DIO, which spiked to 108 days in Q2 2024 and 103 days in Q2 2025, indicating that inventory is built up ahead of the Halloween season. DSO has remained stable around 27-34 days, while DPO has stayed low at 13-24 days, suggesting limited supplier leverage. This pattern reveals that working capital efficiency is structurally tied to seasonal demand, with the company funding inventory build-up through its own cash reserves rather than supplier credit.
Negligible Debt Provides Strategic Flexibility
Debt-to-equity remained at 0.02 across all ten quarters, with interest coverage of 89.2x in Q4 2025, as reported, indicating virtually no refinancing risk or interest rate exposure.
The balance sheet shows total debt of only $13.6-16.2M against equity of over $834M, making leverage a non-issue for the company's operations. This fortress-like position insulates TR from rising interest rates and provides ample capacity to weather input cost shocks without financial distress. However, the conservative capital structure also suggests management is prioritizing stability over growth, which may explain the modest returns on capital and the lack of aggressive reinvestment.
Fortress Liquidity Despite Seasonal Drawdowns
Current ratio remained above 2.8 in every quarter, reaching 3.99 in Q2 2025, according to balance sheet data, while cash fell to $62.1M in Q2 2026 from $127.6M in Q4 2025.
The liquidity position is exceptionally strong, with quick ratios consistently above 1.86, indicating that even in off-peak quarters the company can cover short-term obligations without relying on inventory liquidation. The seasonal cash drawdown in Q2 reflects inventory build-up ahead of Halloween, but the current ratio of 2.89 in Q2 2026 shows ample buffer. This suggests TR could withstand a severe demand shock or input cost spike without needing external financing, though the cash pile may be earning minimal returns.
P/E Misapplied to Seasonal Earnings
The trailing P/E of 30.42, as per current valuation data, is distorted by seasonal earnings troughs and non-operating gains, making it an unreliable gauge of true earning power.
The most commonly misapplied ratio for TR is the trailing P/E, which fails to account for the extreme seasonality of earnings and the reliance on non-operating income to offset operating losses in off-peak quarters. A more appropriate metric would be EV/EBITDA on a normalized annual basis, or a forward P/E that smooths seasonal fluctuations, as the current forward P/E of 22.16 appears more reflective of the company's steady-state earnings potential. Investors should also consider the dual-class share structure's control discount when comparing valuation multiples to more transparent peers like HSY or MDLZ.