Latest Ratios: P/E Ratio 28.1x · EV/EBITDA 22.8x · 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 | $2.8B | $2.6B | $2.0B | $2.1B | $2.6B | $2.1B | $1.7B | $1.9B | $1.8B | $2.0B | $2.1B |
| P/E Ratio → | 28.07 | 26.74 | 25.08 | 23.81 | 36.37 | 34.09 | 30.57 | 31.34 | 33.68 | 25.07 | 32.64 |
| P/S Ratio | 3.95 | 3.65 | 3.01 | 2.76 | 3.90 | 3.92 | 3.84 | 3.88 | 3.67 | 3.93 | 4.21 |
| P/B Ratio | 2.98 | 2.84 | 2.50 | 2.58 | 3.43 | 2.91 | 2.37 | 2.69 | 2.54 | 2.78 | 3.09 |
| P/FCF | 30.00 | 27.72 | 17.98 | 31.32 | 55.08 | 41.50 | 31.86 | 25.58 | 25.97 | 77.60 | 26.63 |
| P/OCF | 22.13 | 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 | 22.79 | 20.99 | 17.27 | 17.19 | 20.57 | 25.33 | 21.59 | 21.78 | 20.20 | 21.84 | 18.81 |
| EV / EBIT | 27.02 | 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 | 3.3% | 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 |
Commodity input cost volatility
According to current market data, Tootsie Roll trades at a P/E of 27.77, which appears elevated relative to its historical growth profile and suggests investors are paying a significant premium for the company's defensive stability rather than for any meaningful expansion in earnings or top-line revenue.
The forward P/E of 20.23 implies that the market expects some moderation in valuation, yet the PEG ratio of 2.39 indicates that the current price is difficult to justify based on growth alone. This valuation likely reflects a 'safety premium' attributed to the firm's fortress balance sheet and long-term brand durability, rather than an expectation of future earnings acceleration.
Based on reported financial figures, Tootsie Roll's ROIC has consistently hovered in the low single digits, with a 2026Q1 reading of 2.2%, indicating that the company is struggling to generate returns on invested capital that significantly exceed the cost of capital in a competitive confectionery environment.
The persistent low ROIC suggests that the company's capital-intensive manufacturing footprint and reliance on legacy assets may be hindering its ability to compound value efficiently. Investors should monitor whether management's conservative reinvestment strategy is a deliberate choice to preserve cash or a symptom of limited high-return opportunities within their specific niche.
As evidenced by the company's 2026Q1 CCC of 88 days, Tootsie Roll's operational efficiency is heavily influenced by its seasonal inventory build, which creates significant fluctuations in working capital requirements that are not present in more diversified, non-seasonal consumer goods peers.
The inventory turnover remains constrained by the need to stock up for peak seasonal demand, which ties up cash for extended periods. While the DSO of 30 days suggests effective collection from retail partners, the overall CCC trend warrants close observation to ensure that inventory management does not become a drag on liquidity during periods of softening consumer demand.
As reported in quarterly filings, Tootsie Roll maintains a minimal debt-to-equity ratio of 0.01%, a structural reality that effectively eliminates interest rate risk and provides the company with an unmatched defensive posture compared to more highly leveraged peers in the broader consumer defensive sector.
This lack of leverage is a double-edged sword; while it ensures survival during economic downturns, it also limits the company's ability to utilize financial engineering to boost ROE. The absence of meaningful debt service obligations suggests that the firm is well-positioned to weather commodity price shocks without the threat of covenant breaches or refinancing pressure.
The P/E ratio is frequently misapplied to Tootsie Roll because it fails to account for the company's massive, non-operating cash pile and the conservative accounting of its legacy real estate assets, which together obscure the true underlying earning power of the core confectionery business.
Analysts should instead focus on EV/EBITDA or P/FCF, as these metrics better reflect the cash-generating capability of the operations while stripping out the distorting effects of the company's excess cash reserves. Relying solely on P/E risks misinterpreting the firm's valuation by treating a cash-rich, low-growth entity as a standard growth-oriented consumer stock.
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Quick answers to the most common questions about buying TR stock.
Tootsie Roll Industries, Inc.'s current P/E ratio is 28.1x. 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 22.8x. 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 28.1x. 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 0.93% 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.