Alto Ingredients, Inc. ALTO
alcohols, renewable fuels and essential ingredients in the United States.
We operate five alcohol production facilities.
Three of our production facilities are located in Illinois, one is located in Oregon, and another is located in Idaho. We have an annual
alcohol production capacity of 330 million gallons, including both renewable fuels and specialty alcohols ranging from industrial-, pharmaceutical-,
Last close
4.04
2026-09-04
Market cap
$313.4M
2026-06-30 share count
52-week range
0.92 - 6.11
Valuation FY2025 figures against the last close
P/S0.3x
P/E25.2x
P/FCF36.2x
EV/EBITDA11.3x
Dividend yield—
Diluted EPS0.16
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $917.9M | $965.3M | $1.22B | $1.34B | $1.21B | $897.0M | $1.42B | $1.52B | $1.63B | $1.62B |
| Cost of revenue | $883.0M | $955.5M | $1.21B | $1.36B | $1.14B | $844.2M | $1.43B | $1.53B | $1.63B | $1.57B |
| Gross profit | $34.9M | $9.7M | $15.7M | -$27.6M | $67.8M | $52.9M | -$9.9M | -$15.2M | $5.9M | $54.4M |
| SG&A | $27.2M | $29.7M | $29.9M | $28.1M | $29.2M | $32.0M | $35.5M | $36.4M | $31.5M | $30.8M |
| Operating income | $7.4M | -$51.7M | -$23.8M | -$61.4M | $40.1M | $9.9M | -$74.7M | -$51.5M | -$25.6M | $23.5M |
| Interest expense | $10.8M | $7.6M | $7.4M | $1.8M | $3.6M | $17.9M | $20.2M | $17.1M | $12.9M | $22.4M |
| Pre-tax income | $12.7M | -$58.8M | -$27.9M | -$39.7M | $47.6M | -$17.3M | -$101.3M | -$68.5M | -$38.4M | $545.0K |
| Income tax | $621.0K | $173.0K | $97.0K | $1.9M | $1.5M | $17.0K | $20.0K | $562.0K | $321.0K | $981.0K |
| Net income | $13.3K | -$59.0K | -$29.3M | -$42.9M | $44.2M | -$15.1M | -$88.9M | -$60.3M | -$35.0M | $1.4M |
| EPS, basic | 0.16 | -0.82 | -0.40 | -0.60 | 0.62 | -0.28 | -1.90 | -1.42 | -0.85 | 0.00 |
| EPS, diluted | 0.16 | -0.82 | -0.40 | -0.60 | 0.61 | -0.28 | -1.90 | -1.42 | -0.85 | 0.00 |
| Shares, diluted (wtd. avg.) | $75.7M | $73.5M | $73.3M | $71.9M | $72.2M | $58.6K | $47.4M | $43.4K | $42.7K | $42.3K |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $23.4M | $35.5M | $30.0M | $49.5M | $62.1M | $48.2M | $19.6M | $35.1M | $49.5M | $64.3M |
| Receivables | $55.1M | $58.2M | $58.7M | $68.7M | $86.9M | $43.5M | $74.3M | $67.6M | $80.3M | $86.3M |
| Inventory | $61.7M | $49.9M | $52.6M | $66.6M | $54.4M | $37.9M | $60.6M | $57.8M | $61.5M | $60.1M |
| Total current assets | $155.9M | $153.1M | $168.8M | $199.1M | $229.5M | $214.0M | $232.1M | $168.8M | $203.2M | $235.2M |
| Property, plant and equipment | $198.5M | $214.7M | $248.7M | $239.1M | $222.6M | $229.5M | $332.5M | $482.7M | $508.4M | $465.2M |
| Goodwill | — | — | — | $6.0M | — | — | — | — | — | — |
| Other intangibles | $7.6M | $4.5M | $8.5M | $9.1M | $2.7M | $2.7M | $2.7M | $2.7M | $2.7M | $2.7M |
| Total assets | $388.8M | $401.4M | $454.2M | $478.3M | $485.0M | $476.8M | $612.5M | $660.0M | $720.3M | $708.2M |
| Accounts payable | $14.5M | $20.4M | $20.8M | $28.1M | — | — | — | — | $39.7M | $37.1M |
| Short-term debt | $16.6M | — | — | — | — | $25.5M | $63.0M | $146.7M | $20.0M | $10.5M |
| Total current liabilities | $59.1M | $57.8M | $65.3M | $78.0M | $69.6M | $86.9M | $160.4M | $231.9M | $90.7M | $78.8M |
| Long-term debt | $63.0M | $92.9M | $82.1M | $68.4M | $50.4M | $71.8M | $180.8M | $84.8M | $221.1M | $188.0M |
| Total liabilities | $143.5M | $176.4M | $174.7M | $170.2M | $139.7M | $180.6M | $385.4M | $340.6M | $336.6M | $290.0M |
| Retained earnings | -$812.1M | -$824.2M | -$763.9M | -$734.6M | -$691.8M | -$736.6M | -$720.2M | -$630.0M | -$568.5M | -$532.2M |
| Total equity | $245.2M | $225.1M | $279.6M | $308.1M | $345.2M | $296.2M | $227.0M | $319.4M | $383.7M | $418.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $13.2M | -$3.5M | $22.0M | $6.0M | $26.8M | $71.7M | -$31.2M | $1.6M | $36.5M | $37.2M |
| Depreciation and amortisation | $25.2M | $24.4M | $23.1M | $25.1M | $23.3M | $30.3M | $47.9M | $40.8M | $38.7M | $35.4M |
| Stock-based compensation | $3.0M | $4.4M | $3.9M | $3.3M | $2.9M | $2.7M | $2.8M | $3.4M | $3.8M | $2.6M |
| Capital expenditure | $4.6M | $11.1M | $29.5M | $37.7M | $16.4M | $6.6M | $3.3M | $15.2M | $20.9M | $19.2M |
| Investing cash flow | -$7.4M | -$13.5M | -$33.0M | -$37.7M | $27.1M | $23.3M | -$3.3M | -$15.2M | -$50.4M | -$14.6M |
| Financing cash flow | -$16.4M | $7.7M | $7.0M | $19.0M | -$40.0M | -$66.4M | $19.0M | -$9.3M | -$839.0K | -$9.9M |
| Buybacks | — | — | $3.7M | $1.3M | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-050384.
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