Latest Ratios: P/E Ratio 47.9x · EV/EBITDA 10.9x · ROE 1.7%. (2002–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.5B | $1.8B | $2.3B | $2.8B | $2.3B | $2.4B | $2.7B | $2.8B | $2.8B | $4.0B | $3.4B |
| Enterprise Value | $2.7B | $3.1B | $3.6B | $4.3B | $4.0B | $4.4B | $4.8B | $5.0B | $5.2B | $6.8B | $4.6B |
| P/E Ratio → | 47.90 | 68.88 | 44.10 | — | — | 177.04 | — | — | — | — | 29.83 |
| P/S Ratio | 0.44 | 0.55 | 0.68 | 0.84 | 0.81 | 0.55 | 0.64 | 0.62 | 0.58 | 0.65 | 1.07 |
| P/B Ratio | 0.83 | 1.19 | 1.40 | 1.64 | 1.23 | 1.29 | 1.49 | 1.31 | 1.25 | 1.61 | 1.85 |
| P/FCF | 11.59 | 14.65 | 141.68 | — | 8.94 | 7.75 | 16.94 | 9.17 | 8.82 | 13.80 | 17.21 |
| P/OCF | 5.50 | 6.95 | 14.86 | — | 6.97 | 5.78 | 8.86 | 5.61 | 5.58 | 8.40 | 12.02 |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.93 | 1.05 | 1.31 | 1.43 | 1.02 | 1.12 | 1.08 | 1.08 | 1.09 | 1.44 |
| EV / EBITDA | 10.95 | 12.50 | 12.53 | 33.97 | 40.51 | 12.60 | 24.79 | 16.12 | 16.78 | 35.02 | 12.80 |
| EV / EBIT | 26.57 | 32.40 | 22.88 | 60.77 | — | 36.40 | — | 104.06 | 55.77 | — | 21.37 |
| EV / FCF | — | 24.79 | 219.34 | — | 15.87 | 14.27 | 29.96 | 16.07 | 16.36 | 23.16 | 23.25 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.4% | 16.4% | 16.8% | 15.8% | 16.8% | 18.4% | 18.6% | 19.4% | 20.2% | 18.2% | 20.1% |
| Operating Margin | 3.1% | 3.1% | 4.3% | -0.4% | -1.6% | 3.4% | -0.4% | 1.8% | 1.6% | -1.5% | 7.5% |
| Net Profit Margin | 0.8% | 0.8% | 1.5% | -4.4% | -0.4% | 0.3% | -8.4% | -1.4% | -5.8% | -3.7% | 3.6% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.7% | 1.7% | 3.2% | -8.3% | -0.7% | 0.7% | -18.1% | -2.9% | -11.7% | -10.5% | 6.4% |
| ROA | 0.7% | 0.7% | 1.3% | -3.1% | -0.2% | 0.3% | -6.7% | -1.1% | -4.5% | -4.5% | 3.0% |
| ROIC | 2.7% | 2.7% | 3.6% | -0.3% | -0.9% | 2.9% | -0.3% | 1.4% | 1.2% | -1.7% | 5.8% |
| ROCE | 3.1% | 3.1% | 4.3% | -0.3% | -1.0% | 3.4% | -0.4% | 1.7% | 1.4% | -2.1% | 6.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.01 | 1.01 | 0.96 | 0.94 | 1.11 | 1.28 | 1.25 | 1.06 | 1.12 | 1.12 | 0.67 |
| Debt / EBITDA | 6.27 | 6.27 | 5.55 | 12.54 | 20.74 | 6.79 | 11.81 | 7.45 | 8.16 | 14.48 | 3.42 |
| Net Debt / Equity | — | 0.83 | 0.77 | 0.92 | 0.95 | 1.09 | 1.14 | 0.99 | 1.07 | 1.09 | 0.65 |
| Net Debt / EBITDA | 5.11 | 5.11 | 4.44 | 12.20 | 17.67 | 5.76 | 10.77 | 6.92 | 7.73 | 14.16 | 3.32 |
| Debt / FCF | — | 10.14 | 77.65 | — | 6.92 | 6.52 | 13.02 | 6.89 | 7.54 | 9.36 | 6.03 |
| Interest Coverage | 1.63 | 1.63 | 1.96 | -0.18 | -0.61 | 1.42 | -0.16 | 0.79 | 0.65 | -0.81 | 5.27 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.36 | 1.36 | 1.50 | 1.01 | 1.89 | 1.44 | 1.50 | 2.00 | 2.48 | 2.25 | 3.08 |
| Quick Ratio | 0.63 | 0.63 | 0.74 | 0.34 | 1.49 | 0.84 | 0.83 | 1.27 | 0.94 | 0.84 | 0.96 |
| Cash Ratio | 0.39 | 0.39 | 0.45 | 0.05 | 0.26 | 0.37 | 0.25 | 0.20 | 0.22 | 0.10 | 0.16 |
| Asset Turnover | — | 0.84 | 0.84 | 0.78 | 0.54 | 0.79 | 0.83 | 0.81 | 0.84 | 0.94 | 0.87 |
| Inventory Turnover | 5.20 | 5.20 | 5.35 | 5.01 | 5.08 | 5.93 | 6.42 | 6.00 | 4.22 | 5.16 | 4.39 |
| Days Sales Outstanding | — | 15.98 | 18.68 | 17.58 | 19.62 | 25.91 | 23.03 | 27.95 | 24.81 | 25.36 | 23.13 |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.1% | 1.5% | 2.3% | — | — | 0.6% | — | — | — | — | 3.4% |
| FCF Yield | 8.6% | 6.8% | 0.7% | — | 11.2% | 12.9% | 5.9% | 10.9% | 11.3% | 7.2% | 5.8% |
| Buyback Yield | 10.2% | 8.1% | 4.3% | 0.0% | 1.1% | 1.0% | 0.0% | 1.9% | 1.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 10.2% | 8.1% | 4.3% | 0.0% | 1.1% | 1.0% | 0.0% | 1.9% | 1.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $53M | $56M | $56M | $56M | $57M | $56M | $56M | $57M | $56M | $44M |
Operational restructuring and liquidity
According to current market data, the TTM P/E of 47.90 appears significantly disconnected from the company's recent net losses, while the forward P/E of 12.84 suggests that investors are pricing in a recovery that remains highly speculative given the ongoing portfolio transformation and structural margin pressures.
The wide disparity between trailing and forward multiples indicates that the market is heavily discounting current restructuring-related earnings volatility. Investors should monitor whether the forward valuation accurately captures the risk of continued volume declines or if it relies on overly optimistic assumptions regarding margin expansion in the snacking segment.
As reported in recent financial statements, the company's operating margin plummeted to -30.2% in 2025Q3, highlighting a severe deterioration in earning power that suggests the current cost structure is not yet aligned with the reduced scale of the post-divestiture business model.
The gross margin of 18.8% provides insufficient cushion to absorb the high fixed costs inherent in the manufacturing footprint, leading to the observed negative operating leverage. This trend warrants further investigation into whether the company can achieve sustainable profitability without further aggressive SKU rationalization or significant volume growth.
Based on the provided quarterly data, the cash conversion cycle has expanded to 161 days in 2025Q3, driven by an alarming increase in days inventory outstanding to 357 days, which suggests that the company is struggling to manage its supply chain effectively during this period of transition.
The inability to optimize working capital, particularly regarding inventory levels, directly impacts the company's cash position and operational flexibility. This inefficiency appears structural rather than temporary, as the company continues to carry significant inventory burdens that do not align with current sales velocity.
According to recent balance sheet filings, the debt-to-equity ratio has risen to 1.29 as of 2025Q3, reflecting a concerning trend where the erosion of the equity base is outpacing the company's efforts to deleverage its balance sheet through asset divestitures and debt repayment.
The negative interest coverage ratio of -10.63 indicates that the company is currently unable to service its debt obligations from operating income alone. This situation leaves the company in a vulnerable position, necessitating a close watch on potential refinancing risks and the sustainability of its current capital structure.
The market's reliance on the P/S ratio of 0.44 to value TreeHouse Foods is fundamentally flawed, as it obscures the company's inability to convert revenue into meaningful cash flow due to its high-variable-cost structure and the ongoing, dilutive impact of its portfolio restructuring efforts.
Investors should instead focus on EV/EBITDA or FCF-based metrics, which better account for the capital-intensive nature of the manufacturing footprint and the reality of the company's current earnings quality. Using P/S ignores the critical reality that revenue growth is meaningless if the underlying margins remain structurally impaired.
Includes 30+ ratios · 23 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying THS stock.
TreeHouse Foods, Inc.'s current P/E ratio is 47.9x. The historical average is 42.2x. This places it at the 79th percentile of its historical range.
TreeHouse Foods, Inc.'s current EV/EBITDA is 10.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.6x.
TreeHouse Foods, Inc.'s return on equity (ROE) is 1.7%. The historical average is 2.3%.
Based on historical data, TreeHouse Foods, Inc. is trading at a P/E of 47.9x. This is at the 79th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
TreeHouse Foods, Inc. has 16.4% gross margin and 3.1% operating margin.
TreeHouse Foods, Inc.'s Debt/EBITDA ratio is 6.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.