# Tootsie Roll Industries, Inc. (TR)

> Source: Nexqual · https://nexqual.com/TR · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Tootsie Roll Industries, Inc. (TR), nexqual.com/TR" · informational, not investment advice.

**Price:** USD 37.19 (+2.17% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 36.4 · day 36.5–37.26 · 52w 33.44–45.06 · market cap $2.80B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $735M, net income $95.5M (13.0% margin), free cash flow $80.2M (SEC filings).
- Valuation: P/E 29.3x.
- Earnings quality: non-operating income $42.4M vs operating income $87.4M over the last four quarters; P/E excluding non-operating income ≈43.5x (estimate: non-operating income taxed at the company's 26.5% effective rate).
- Analysts: None.
- Total return with dividends: 1Y -2.4% vs S&P 500 +14.9%; 5Y +44.0% vs S&P 500 +80.3%.
- Next earnings: 2026-10-21, EPS estimate USD —, revenue estimate null.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $571M | $687M | $769M | $723M | $733M | $735M |
| Gross profit | $199M | $233M | $257M | $253M | $258M | — |
| Operating income | $67.1M | $111M | $102M | $101M | $101M | $87.4M |
| Net income | $65.3M | $75.9M | $91.9M | $86.8M | $100M | $95.5M |
| Free cash flow | $53.9M | $48.7M | $67.8M | $121M | $96.4M | $80.2M |
| Gross margin | 34.9% | 33.9% | 33.4% | 35.0% | 35.3% | — |
| Operating margin | 11.8% | 16.1% | 13.2% | 13.9% | 13.8% | 11.9% |
| Net margin | 11.4% | 11.1% | 11.9% | 12.0% | 13.7% | 13.0% |
| Revenue growth | +21.2% | +20.4% | +12.0% | -6.0% | +1.3% | — |
| Cash + short-term investments | $146M | $149M | $171M | $195M | $177M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 29.3x · P/E ex non-operating (est.) ≈43.5x · P/S 3.8x · P/FCF 34.9x · P/B 2.9x · FCF yield 2.87% · Earnings yield 3.41% · Dividend yield (paid, TTM) 0.95%

## Analysts
Consensus None.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -2.4% | +44.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -2.4% | +7.5% |
| Volatility (annualized) | 25.5% | 25.8% |
| Max drawdown | -19.0% (Apr 2026→Jun 2026) | -35.4% (Jan 2023→Jun 2024) |

## Peers (Confectioners)
HSY (The Hershey Company) USD 175.64 +4.67% · MDLZ (Mondelez International, Inc.) USD 65.19 +3.91% · KMB (Kimberly-Clark Corporation) USD 112.32 +5.32% · KVUE (Kenvue Inc.) USD 19.88 +4.41% · ADM (Archer-Daniels-Midland Company) USD 79.84 +0.60% · EL (Estee Lauder Companies, Inc. (T) USD 107.72 +3.92%

## More
Full page: https://nexqual.com/TR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product | $151.9M | 98.5% | -0.8% |
| Rental & Royalty | $2.3M | 1.5% | +19.9% |
| Total revenue | $154.2M | 100% | — |

## Customer concentration

Period ended 2025-12-31: 22%, 19.7%, 13.1% of revenue from unnamed direct customers (10-K, filed 2026-02-27).

## Company outlook (8-K filed 2026-10-22)

- "However, our cocoa and chocolate costs were more favorable in third quarter 2026 compared to first half 2026 and we expect this to continue in fourth quarter 2026."
- "This cost increase accelerated in third quarter 2026 and we expect freight and delivery costs to remain elevated through fourth quarter 2026 and likely into 2027."

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 29.6% | ±6.7% |
| 2026-12-18 | 56 | 35.1% | ±11.1% |
| 2027-03-19 | 147 | 29.8% | ±15.0% |
| 2027-06-17 | 237 | 29.9% | ±19.1% |