Latest Ratios: P/E Ratio 35.3x · EV/EBITDA 15.4x · ROE 5.7%. (1998–2025 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 | $437M | $218M | $115M | $195M | $207M | $347M | $318M | $31M | $37M | $194M | $401M |
| Enterprise Value | $509M | $290M | $194M | $271M | $258M | $360M | $379M | $280M | $242M | $387M | $533M |
| P/E Ratio → | 35.31 | 18.00 | — | — | — | 7.89 | — | — | — | — | 2714.29 |
| P/S Ratio | 0.48 | 0.24 | 0.12 | 0.16 | 0.16 | 0.29 | 0.35 | 0.02 | 0.02 | 0.12 | 0.25 |
| P/B Ratio | 1.74 | 0.89 | 0.51 | 0.70 | 0.67 | 1.01 | 1.07 | 0.14 | 0.12 | 0.51 | 0.96 |
| P/FCF | 50.50 | 25.20 | — | — | — | 33.28 | 4.89 | — | — | 12.43 | 18.91 |
| P/OCF | 32.97 | 16.45 | — | 8.86 | 34.25 | 12.95 | 4.44 | — | 23.85 | 5.33 | 9.94 |
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 | — | 0.32 | 0.20 | 0.22 | 0.19 | 0.30 | 0.42 | 0.20 | 0.16 | 0.24 | 0.33 |
| EV / EBITDA | 15.45 | 8.80 | — | — | — | 5.69 | 9.44 | — | — | 29.60 | 9.04 |
| EV / EBIT | 66.01 | 37.62 | — | — | — | 7.05 | 588.22 | — | — | — | 23.77 |
| EV / FCF | — | 33.51 | — | — | — | 34.53 | 5.82 | — | — | 24.73 | 25.09 |
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 | 3.8% | 3.8% | 1.0% | 1.3% | -2.1% | 5.6% | 5.9% | -0.7% | -1.0% | 0.4% | 3.2% |
| Operating Margin | 0.8% | 0.8% | -5.4% | -2.0% | -4.6% | 3.3% | 1.1% | -5.2% | -3.4% | -1.6% | 1.4% |
| Net Profit Margin | 1.5% | 1.5% | -6.1% | -2.3% | -3.1% | 3.8% | -1.7% | -6.2% | -4.0% | -2.1% | 0.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.7% | 5.7% | -23.4% | -9.5% | -12.7% | 14.4% | -5.8% | -32.6% | -17.1% | -8.7% | 0.4% |
| ROA | 3.4% | 3.4% | -13.8% | -6.0% | -8.6% | 9.6% | -2.8% | -14.0% | -8.7% | -4.9% | 0.2% |
| ROIC | 1.9% | 1.9% | -11.8% | -5.0% | -12.8% | 8.4% | 1.8% | -11.2% | -7.0% | -3.4% | 3.2% |
| ROCE | 2.3% | 2.3% | -14.1% | -6.0% | -15.0% | 10.0% | 2.3% | -17.0% | -9.7% | -4.1% | 3.8% |
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 | 0.40 | 0.40 | 0.51 | 0.38 | 0.28 | 0.18 | 0.37 | 1.18 | 0.73 | 0.63 | 0.48 |
| Debt / EBITDA | 2.96 | 2.96 | — | — | — | 1.00 | 2.70 | — | — | 18.51 | 3.39 |
| Net Debt / Equity | — | 0.29 | 0.35 | 0.27 | 0.16 | 0.04 | 0.20 | 1.10 | 0.64 | 0.50 | 0.31 |
| Net Debt / EBITDA | 2.18 | 2.18 | — | — | — | 0.21 | 1.51 | — | — | 14.72 | 2.23 |
| Debt / FCF | — | 8.32 | — | — | — | 1.25 | 0.93 | — | — | 12.29 | 6.18 |
| Interest Coverage | 0.72 | 0.72 | -6.69 | -2.76 | -20.71 | 14.26 | 0.04 | -4.01 | -3.00 | -1.97 | 1.00 |
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 | 2.64 | 2.64 | 2.65 | 2.59 | 2.55 | 3.30 | 2.46 | 1.45 | 0.73 | 2.24 | 2.98 |
| Quick Ratio | 2.64 | 2.64 | 1.79 | 1.78 | 1.70 | 2.52 | 2.03 | 1.07 | 0.48 | 1.56 | 2.22 |
| Cash Ratio | 0.43 | 0.43 | 0.61 | 0.46 | 0.47 | 0.73 | 0.55 | 0.12 | 0.11 | 0.55 | 0.82 |
| Asset Turnover | — | 2.36 | 2.40 | 2.69 | 2.79 | 2.49 | 1.88 | 2.33 | 2.30 | 2.27 | 2.29 |
| Inventory Turnover | — | — | 19.14 | 22.95 | 20.46 | 20.97 | 22.26 | 23.68 | 26.47 | 26.42 | 26.18 |
| Days Sales Outstanding | — | 24.88 | 22.01 | 17.53 | 18.76 | 26.26 | 17.70 | 19.03 | 16.44 | 18.13 | 20.67 |
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 | 0.3% | 0.6% | 1.1% | 0.6% | 0.6% | 0.8% | — | 3.1% | 3.4% | 0.7% | 0.3% |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.8% | 5.6% | — | — | — | 12.7% | — | — | — | — | 0.0% |
| FCF Yield | 2.0% | 4.0% | — | — | — | 3.0% | 20.5% | — | — | 8.0% | 5.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 1.9% | 0.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.3% | 0.6% | 1.1% | 2.5% | 1.3% | 0.8% | 0.0% | 3.1% | 3.4% | 0.7% | 0.3% |
| Shares Outstanding | — | $76M | $73M | $73M | $72M | $72M | $59M | $47M | $43M | $43M | $42M |
Commodity crush spread volatility
According to recent market data, ALTO trades at a P/S ratio of 0.44, which suggests that investors are heavily discounting the company's revenue base due to the inherent volatility of the specialty alcohol and ethanol markets compared to more diversified chemical peers in the broader industrial sector.
The forward P/E of 12.15 implies that the market expects a significant earnings recovery, yet the wide gap between current and forward multiples warrants caution regarding the reliability of these projections. Investors should monitor whether the current valuation adequately accounts for the persistent revenue contraction or if the stock remains trapped in a value-degrading cycle.
Based on reported financial figures, ALTO's ROIC has struggled to maintain positive territory, fluctuating from a low of -9.2% in 2024Q4 to a modest 4.1% in 2025Q3, indicating that the company has historically failed to consistently generate returns above its cost of capital in this commodity-intensive industry.
The inability to sustain positive ROIC suggests that the company's capital allocation toward facility upgrades has yet to yield the expected margin expansion. This trend implies that the business model remains highly sensitive to external commodity price shocks rather than internal operational efficiencies.
As reported in quarterly filings, ALTO's cash conversion cycle has remained relatively tight, averaging around 35 days, yet the underlying components like DSO and DIO show significant quarter-to-quarter variance that complicates the company's ability to maintain a stable liquidity position during periods of market stress.
The efficiency of working capital appears to be a secondary concern compared to the primary impact of raw material price fluctuations on the balance sheet. Investors should note that while the company manages its receivables and payables effectively, the lack of scale limits its leverage over suppliers and customers.
According to recent balance sheet data, ALTO has successfully reduced its debt-to-equity ratio to 0.37 as of 2026Q1, a notable improvement from the 0.67 peak in 2025Q2, which suggests a disciplined management approach to mitigating financial risk in a highly cyclical and capital-intensive operating environment.
This reduction in leverage appears to be a strategic necessity to offset the thin operating margins and the inherent volatility of the crush spread. While the current debt levels appear manageable, the company's limited cash cushion means that any prolonged period of negative operating cash flow could quickly reverse these gains.
Financial analysts frequently misapply the P/E ratio to ALTO, as the company's earnings are often distorted by non-recurring hedging gains and commodity price volatility, which obscures the true underlying operational earning power of the Pekin facility and its specialty alcohol production capabilities.
Instead of relying on P/E, investors should prioritize EV/EBITDA or adjusted cash flow metrics to better capture the company's ability to generate value from its physical assets. Using P/E in this context risks overestimating the quality of earnings during cyclical peaks and underestimating the company's resilience during troughs.
Includes 30+ ratios · 28 years · Updated daily
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Quick answers to the most common questions about buying ALTO stock.
Alto Ingredients, Inc.'s current P/E ratio is 35.3x. The historical average is 11.9x. This places it at the 100th percentile of its historical range.
Alto Ingredients, Inc.'s current EV/EBITDA is 15.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 23.3x.
Alto Ingredients, Inc.'s return on equity (ROE) is 5.7%. The historical average is -4.6%.
Based on historical data, Alto Ingredients, Inc. is trading at a P/E of 35.3x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Alto Ingredients, Inc.'s current dividend yield is 0.30%.
Alto Ingredients, Inc. has 3.8% gross margin and 0.8% operating margin.
Alto Ingredients, Inc.'s Debt/EBITDA ratio is 3.0x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.