Tootsie Roll Industries
TR NYSE Packaged Foods & Meats Financials FY2016–FY2025
Tootsie Roll Industries' revenue rose 1.3% to $732 million in fiscal 2025. Its operating margin was 13.8%, down from 13.9% a year earlier. Free cash flow was $96 million, down 20.3%. It paid out $33 million in dividends and buybacks, 34% of free cash flow. The diluted share count fell 0.7%.
Revenue
Total sales reported in the income statement.
$733M
1.3%
vs prior year
Operating margin
Operating income as a share of revenue.
13.8%
0.1 pts
Net income
Profit after all expenses, interest and tax.
$100M
15.3%
Free cash flow
Cash from operations minus capital spending.
$96.4M
20.3%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
$2.6B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
What Tootsie Roll Industries does
No business description yet.
- Legal name
- TOOTSIE ROLL INDUSTRIES INC
- Fiscal year ends
- December 31, 2025
- Latest annual report
- —
- Accession · CIK
- 0001104659-26-021621
0000098677
Revenue and margins
Tootsie Roll Industries had $733M of revenue in fiscal 2025, up 1.3% on the year before.
FY16
Revenue $521M
FY17
Revenue $519M
FY18
Revenue $519M
FY19
Revenue $527M
FY20
Revenue $471M
FY21
Revenue $571M
FY22
Revenue $687M
FY23
Revenue $769M
FY24
Revenue $723M
FY25
Revenue $733M
Q3 '23
Revenue $250M
Q4 '23
Revenue $197M
Q1 '24
Revenue $153M
Q2 '24
Revenue $151M
Q3 '24
Revenue $226M
Q4 '24
Revenue $193M
Q1 '25
Revenue $149M
Q2 '25
Revenue $155M
Q3 '25
Revenue $233M
Q4 '25
Revenue $196M
Q1 '26
Revenue $152M
Q2 '26
Revenue $154M
FY16
Gross 38.2%
Operating 17.5%
Net 13.0%
FCF 15.8%
FY17
Gross 37.0%
Operating 13.6%
Net 15.6%
FCF 5.1%
FY18
Gross 36.3%
Operating 13.6%
Net 11.0%
FCF 14.1%
FY19
Gross 37.4%
Operating 13.1%
Net 12.3%
FCF 15.2%
FY20
Gross 36.2%
Operating 12.4%
Net 12.5%
FCF 12.1%
FY21
Gross 34.9%
Operating 11.8%
Net 11.5%
FCF 9.4%
FY22
Gross 33.9%
Operating 16.1%
Net 11.1%
FCF 7.1%
FY23
Gross 33.4%
Operating 13.2%
Net 12.0%
FCF 8.8%
FY24
Gross 35.0%
Operating 13.9%
Net 12.0%
FCF 16.7%
FY25
Gross 35.3%
Operating 13.8%
Net 13.7%
FCF 13.2%
Gross
Operating
Net
FCF
Q3 '23
Gross 34.1%
Operating 18.4%
Net 13.8%
FCF 14.4%
Q4 '23
Gross 34.8%
Operating 14.4%
Net 14.9%
FCF 24.2%
Q1 '24
Gross 32.7%
Operating 7.3%
Net 10.3%
FCF 11.0%
Q2 '24
Gross 33.5%
Operating 10.2%
Net 10.4%
FCF −11.0%
Q3 '24
Gross 34.1%
Operating 15.6%
Net 14.5%
FCF 24.7%
Q4 '24
Gross 39.1%
Operating 20.0%
Net 11.6%
FCF 33.5%
Q1 '25
Gross 35.3%
Operating 15.5%
Net 12.2%
FCF 0.5%
Q2 '25
Gross 36.4%
Operating 7.8%
Net 11.3%
FCF −10.4%
Q3 '25
Gross 34.1%
Operating 13.9%
Net 15.3%
FCF 21.8%
Q4 '25
Gross 35.7%
Operating 17.0%
Net 14.7%
FCF 31.1%
Q1 '26
Gross 33.9%
Operating 15.3%
Net 11.7%
FCF 2.2%
Q2 '26
Gross 34.1%
Operating −1.1%
Net 8.7%
FCF −22.6%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY16
Net income $67.5M
FY17
Net income $80.9M
FY18
Net income $56.9M
FY19
Net income $64.9M
FY20
Net income $59.0M
FY21
Net income $65.3M
FY22
Net income $75.9M
FY23
Net income $91.9M
FY24
Net income $86.8M
FY25
Net income $100M
Q3 '23
Net income $34.4M
Q4 '23
Net income $29.4M
Q1 '24
Net income $15.8M
Q2 '24
Net income $15.6M
Q3 '24
Net income $32.8M
Q4 '24
Net income $22.5M
Q1 '25
Net income $18.1M
Q2 '25
Net income $17.5M
Q3 '25
Net income $35.7M
Q4 '25
Net income $28.8M
Q1 '26
Net income $17.7M
Q2 '26
Net income $13.3M
FY16
Diluted EPS —
FY17
Diluted EPS —
FY18
Diluted EPS —
FY19
Diluted EPS —
FY20
Diluted EPS —
FY21
Diluted EPS —
FY22
Diluted EPS —
FY23
Diluted EPS —
FY24
Diluted EPS —
FY25
Diluted EPS —
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY16
Return on capital —
Return on equity 9.6%
Return on assets 7.4%
FY17
Return on capital —
Return on equity 11.2%
Return on assets 8.7%
FY18
Return on capital —
Return on equity 7.7%
Return on assets 6.1%
FY19
Return on capital —
Return on equity 8.6%
Return on assets 6.7%
FY20
Return on capital —
Return on equity 7.8%
Return on assets 6.0%
FY21
Return on capital —
Return on equity 8.5%
Return on assets 6.5%
FY22
Return on capital —
Return on equity 9.8%
Return on assets 7.5%
FY23
Return on capital —
Return on equity 11.4%
Return on assets 8.7%
FY24
Return on capital —
Return on equity 10.3%
Return on assets 7.8%
FY25
Return on capital —
Return on equity 11.1%
Return on assets 8.3%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $96.4M in fiscal 2025, 13.2% of revenue. Cash from operations minus capital spending.
FY16
Free cash flow $82.5M
FY17
Free cash flow $26.3M
FY18
Free cash flow $73.3M
FY19
Free cash flow $80.0M
FY20
Free cash flow $56.7M
FY21
Free cash flow $53.9M
FY22
Free cash flow $48.7M
FY23
Free cash flow $67.8M
FY24
Free cash flow $121M
FY25
Free cash flow $96.4M
Q3 '23
Free cash flow $36.0M
Q4 '23
Free cash flow $47.7M
Q1 '24
Free cash flow $16.9M
Q2 '24
Free cash flow −$16.6M
Q3 '24
Free cash flow $55.8M
Q4 '24
Free cash flow $64.7M
Q1 '25
Free cash flow $0.8M
Q2 '25
Free cash flow −$16.1M
Q3 '25
Free cash flow $50.7M
Q4 '25
Free cash flow $61.0M
Q1 '26
Free cash flow $3.3M
Q2 '26
Free cash flow −$34.8M
FY16
Cash from operations $98.5M
Capital spending $16.1M
FY17
Cash from operations $43.0M
Capital spending $16.7M
FY18
Cash from operations $101M
Capital spending $27.6M
FY19
Cash from operations $100M
Capital spending $20.3M
FY20
Cash from operations $74.7M
Capital spending $18.0M
FY21
Cash from operations $85.3M
Capital spending $31.4M
FY22
Cash from operations $72.1M
Capital spending $23.4M
FY23
Cash from operations $94.6M
Capital spending $26.8M
FY24
Cash from operations $139M
Capital spending $18.0M
FY25
Cash from operations $131M
Capital spending $34.3M
Cash from operations
Capital spending
Q3 '23
Cash from operations $44.7M
Capital spending $8.7M
Q4 '23
Cash from operations $55.0M
Capital spending $7.3M
Q1 '24
Cash from operations $21.4M
Capital spending $4.5M
Q2 '24
Cash from operations −$12.6M
Capital spending $3.9M
Q3 '24
Cash from operations $61.3M
Capital spending $5.5M
Q4 '24
Cash from operations $68.8M
Capital spending $4.1M
Q1 '25
Cash from operations $3.6M
Capital spending $2.9M
Q2 '25
Cash from operations −$8.5M
Capital spending $7.5M
Q3 '25
Cash from operations $62.2M
Capital spending $11.6M
Q4 '25
Cash from operations $73.3M
Capital spending $12.3M
Q1 '26
Cash from operations $11.5M
Capital spending $8.2M
Q2 '26
Cash from operations −$22.4M
Capital spending $12.4M
Cash from operations
Capital spending
Dividends, buybacks and share count
Tootsie Roll Industries returned $32.6M to shareholders in fiscal 2025, 34% of free cash flow. The diluted share count fell 0.7%.
FY16
Dividends $22.3M
Buybacks $29.1M
FY17
Dividends $22.6M
Buybacks $34.1M
FY18
Dividends $23.0M
Buybacks $19.3M
FY19
Dividends $23.5M
Buybacks $34.1M
FY20
Dividends $23.8M
Buybacks $32.1M
FY21
Dividends $24.1M
Buybacks $30.2M
FY22
Dividends $24.6M
Buybacks $31.9M
FY23
Dividends $25.1M
Buybacks $33.1M
FY24
Dividends $25.5M
Buybacks $13.5M
FY25
Dividends $26.1M
Buybacks $6.5M
Dividends
Buybacks
Q3 '23
Dividends $6.3M
Buybacks $11.0M
Q4 '23
Dividends $6.3M
Buybacks $5.6M
Q1 '24
Dividends $12.5M
Buybacks $0.0M
Q2 '24
Dividends $0.1M
Buybacks $0.0M
Q3 '24
Dividends $6.4M
Buybacks $0.0M
Q4 '24
Dividends $6.5M
Buybacks $11.3M
Q1 '25
Dividends $12.8M
Buybacks $6.5M
Q2 '25
Dividends $0.1M
Buybacks $0.0M
Q3 '25
Dividends $6.6M
Buybacks $0.0M
Q4 '25
Dividends $6.6M
Buybacks $0.0M
Q1 '26
Dividends $13.1M
Buybacks $0.0M
Q2 '26
Dividends $0.2M
Buybacks $0.0M
Dividends
Buybacks
FY16
Diluted shares 0.07B
FY17
Diluted shares 0.07B
FY18
Diluted shares 0.07B
FY19
Diluted shares 0.07B
FY20
Diluted shares 0.07B
FY21
Diluted shares 0.07B
FY22
Diluted shares 0.07B
FY23
Diluted shares 0.07B
FY24
Diluted shares 0.07B
FY25
Diluted shares 0.07B
Value Tootsie Roll Industries yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of — and divides by 72.9M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Balance sheet
Cash, debt and the ratios that show how comfortably Tootsie Roll Industries can carry it.
FY16
Cash $187M
Debt —
FY17
Cash $138M
Debt —
FY18
Cash $186M
Debt —
FY19
Cash $239M
Debt —
FY20
Cash $209M
Debt —
FY21
Cash $146M
Debt —
FY22
Cash $149M
Debt —
FY23
Cash $171M
Debt —
FY24
Cash $195M
Debt —
FY25
Cash $177M
Debt —
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $146M | $149M | $171M | $195M | $177M |
| Interest coverage | 1,459.4x | 1,065.0x | 302.2x | 197.5x | 225.8x |
| Current ratio | 3.4x | 3.4x | 3.6x | 3.8x | 3.3x |
| Quick ratio | 3.4x | 3.4x | 3.6x | 3.8x | 3.3x |
| Total assets | $1.0B | $1.0B | $1.1B | $1.1B | $1.3B |
| Total liabilities | $250M | $236M | $261M | $277M | $313M |
| Shareholders' equity | $769M | $783M | $823M | $871M | $941M |
| Net debt (− = net cash) | — | — | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | ✓ | ✕ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | — |
| Current ratio rose | ✓ | ✓ | ✕ |
| Share count didn't rise | ✓ | ✕ | ✓ |
| Gross margin rose | ✕ | ✓ | ✓ |
| Revenue rose relative to assets | ✓ | ✕ | ✕ |
| F-score | — / 9 | — / 9 | — / 9 |
| Accruals ratio | −0.3% | −4.7% | −2.6% |
| Altman Z'' | 5.61 | 5.46 | 5.03 |
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10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $521M | $519M | $519M | $527M | $471M | $571M | $687M | $769M | $723M | $733M |
| Gross profit | $199M | $192M | $188M | $197M | $170M | $199M | $233M | $257M | $253M | $258M |
| Operating income | $91.2M | $70.4M | $70.5M | $69.2M | $58.2M | $67.1M | $111M | $102M | $101M | $101M |
| Interest expense | $0.1M | $0.1M | $0.2M | $0.2M | $0.2M | $0.0M | $0.1M | $0.3M | $0.5M | $0.4M |
| Pretax income | $97.9M | $84.6M | $73.2M | $85.4M | $76.3M | $85.7M | $98.1M | $120M | $127M | $137M |
| Income tax | $30.6M | $3.9M | $16.4M | $20.6M | $17.3M | $20.4M | $22.2M | $28.0M | $40.1M | $37.3M |
| Net income | $67.5M | $80.9M | $56.9M | $64.9M | $59.0M | $65.3M | $75.9M | $91.9M | $86.8M | $100M |
| Diluted shares | 0.07B | 0.07B | 0.07B | 0.07B | 0.07B | 0.07B | 0.07B | 0.07B | 0.07B | 0.07B |
| Cash flow | ||||||||||
| Cash from operations | $98.5M | $43.0M | $101M | $100M | $74.7M | $85.3M | $72.1M | $94.6M | $139M | $131M |
| Capital expenditure | $16.1M | $16.7M | $27.6M | $20.3M | $18.0M | $31.4M | $23.4M | $26.8M | $18.0M | $34.3M |
| Free cash flow | $82.5M | $26.3M | $73.3M | $80.0M | $56.7M | $53.9M | $48.7M | $67.8M | $121M | $96.4M |
| Depreciation and amortization | $19.6M | $19.0M | $18.7M | $18.8M | $18.2M | $17.6M | $17.7M | $18.2M | $18.2M | $19.1M |
| Acquisitions | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $29.1M | $34.1M | $19.3M | $34.1M | $32.1M | $30.2M | $31.9M | $33.1M | $13.5M | $6.5M |
| Dividends paid | $22.3M | $22.6M | $23.0M | $23.5M | $23.8M | $24.1M | $24.6M | $25.1M | $25.5M | $26.1M |
| Dividends and buybacks | $51.4M | $56.8M | $42.3M | $57.6M | $55.9M | $54.3M | $56.5M | $58.2M | $39.1M | $32.6M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $187M | $138M | $186M | $239M | $209M | $146M | $149M | $171M | $195M | $177M |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Current assets | $299M | $271M | $304M | $353M | $321M | $268M | $309M | $341M | $334M | $322M |
| Current liabilities | $63.6M | $63.8M | $61.4M | $79.5M | $70.0M | $80.0M | $90.1M | $94.9M | $87.3M | $98.5M |
| Inventory | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Property and equipment, net | $181M | $179M | $186M | $189M | $187M | $209M | $212M | $223M | $220M | $238M |
| Total assets | $920M | $931M | $947M | $978M | $985M | $1.0B | $1.0B | $1.1B | $1.1B | $1.3B |
| Total liabilities | $209M | $197M | $197M | $218M | $222M | $250M | $236M | $261M | $277M | $313M |
| Shareholders' equity | $711M | $734M | $751M | $760M | $763M | $769M | $783M | $823M | $871M | $941M |
| Margins | ||||||||||
| Gross margin | 38.2% | 37.0% | 36.3% | 37.4% | 36.2% | 34.9% | 33.9% | 33.4% | 35.0% | 35.3% |
| Operating margin | 17.5% | 13.6% | 13.6% | 13.1% | 12.4% | 11.8% | 16.1% | 13.2% | 13.9% | 13.8% |
| EBITDA margin | 21.3% | 17.2% | 17.2% | 16.7% | 16.2% | 14.8% | 18.7% | 15.6% | 16.4% | 16.4% |
| Net margin | 13.0% | 15.6% | 11.0% | 12.3% | 12.5% | 11.5% | 11.1% | 12.0% | 12.0% | 13.7% |
| FCF margin | 15.8% | 5.1% | 14.1% | 15.2% | 12.1% | 9.4% | 7.1% | 8.8% | 16.7% | 13.2% |
| Returns | ||||||||||
| Return on capital employed | 10.8% | 8.2% | 8.0% | 7.8% | 6.4% | 7.3% | 11.9% | 10.6% | 9.8% | 9.1% |
| Return on equity | 9.6% | 11.2% | 7.7% | 8.6% | 7.8% | 8.5% | 9.8% | 11.4% | 10.3% | 11.1% |
| Return on assets | 7.4% | 8.7% | 6.1% | 6.7% | 6.0% | 6.5% | 7.5% | 8.7% | 7.8% | 8.3% |
| Growth | ||||||||||
| Revenue growth | −3.5% | −0.4% | −0.1% | 1.6% | −10.6% | 21.2% | 20.4% | 12.0% | −6.0% | 1.3% |
| Net income growth | 2.2% | 19.8% | −29.6% | 14.1% | −9.1% | 10.7% | 16.2% | 21.0% | −5.5% | 15.2% |
| FCF growth | 9.2% | −68.1% | 178.8% | 9.1% | −29.0% | −5.1% | −9.6% | 39.3% | 78.3% | −20.3% |
| Share count change | 1.3% | 1.5% | 1.7% | 1.9% | 1.6% | 1.4% | 2.1% | −1.4% | 2.1% | −0.7% |
| Financial health | ||||||||||
| Interest coverage | 868.9x | 489.0x | 389.4x | 314.6x | 355.2x | 1,459.4x | 1,065.0x | 302.2x | 197.5x | 225.8x |
| Current ratio | 4.7x | 4.3x | 5.0x | 4.4x | 4.6x | 3.4x | 3.4x | 3.6x | 3.8x | 3.3x |
| Quick ratio | 4.7x | 4.3x | 5.0x | 4.4x | 4.6x | 3.4x | 3.4x | 3.6x | 3.8x | 3.3x |
| Capital allocation | ||||||||||
| Capex / revenue | 3.1% | 3.2% | 5.3% | 3.8% | 3.8% | 5.5% | 3.4% | 3.5% | 2.5% | 4.7% |
| Payouts / FCF | 62.3% | 215.8% | 57.7% | 72.0% | 98.5% | 100.8% | 116.1% | 85.8% | 32.3% | 33.8% |
| Quality scores | ||||||||||
| Altman Z'' | 6.1 | 6.1 | 6.3 | 6.1 | 5.8 | 5.0 | 5.8 | 5.6 | 5.5 | 5.0 |
| Accruals ratio | −3.4% | 4.1% | −4.7% | −3.7% | −1.6% | −2.0% | 0.4% | −0.3% | −4.7% | −2.6% |
Source: SEC EDGAR XBRL filings (CIK 0000098677). Data updated October 20, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.