Alto Ingredients, Inc. (ALTO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-84.2%

$0.55

vs $3.50 price

Levered DCF

-$2.16

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.51

Distress zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	18×	-1.9×	-6.65×	-4.97×	7.76×	-18.72×	-0.3×	-0.62×
P/B	0.87×	0.51×	0.7×	0.67×	0.99×	1.07×	0.14×	0.12×
P/S	0.23×	0.12×	0.16×	0.16×	0.28×	0.35×	0.02×	0.02×
EV / EBITDA	5.88×	-7.24×	104.17×	-20.24×	4.77×	12.25×	-8.44×	-23.03×
Gross margin	2.9%	1.0%	1.3%	-2.1%	5.6%	5.9%	-0.7%	-1.0%
Operating margin	0.8%	-5.4%	-2.0%	-4.6%	3.3%	1.1%	-5.2%	-3.4%
Net margin	1.5%	-6.1%	-2.3%	-3.1%	3.8%	-1.7%	-6.2%	-4.0%
Current ratio	2.64×	2.65×	2.59×	2.55×	3.3×	2.46×	1.45×	0.73×
Debt / equity	0.4×	0.51×	0.38×	0.28×	0.18×	0.37×	1.22×	0.77×
Interest coverage	0.66×	-6.76×	-3.21×	-33.58×	11.17×	0.55×	-3.7×	-3.01×
Dividend yield	0.6%	1.1%	0.6%	0.6%	0.8%	0.0%	3.1%	3.4%
Payout ratio	9.5%	-2.2%	-4.5%	-3.0%	6.2%	0.0%	-1.1%	-2.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.4%	-26.2%	-10.0%	-13.5%	13.3%	-5.1%	-40.5%	-20.1%
Return on invested capital	2.0%	-14.8%	-6.1%	-15.2%	9.3%	2.4%	-14.4%	-8.9%
Return on assets	3.4%	-14.7%	-6.2%	-8.7%	9.5%	-3.2%	-14.5%	-9.1%
Free cash flow yield	4.0%	-12.7%	-3.8%	-15.3%	3.1%	20.5%	-112.0%	-36.4%
Earnings yield	6.2%	-51.5%	-14.4%	-20.1%	13.5%	-4.7%	-288.8%	-161.6%
Enterprise value	$286.5M	$193.8M	$270.5M	$258M	$355M	$378.8M	$280.2M	$242.2M
Net debt / EBITDA	1.48×	-2.96×	29.05×	-3.99×	0.18×	1.96×	-7.52×	-19.49×
Cash conversion cycle (days)	44	33	27	29	36	28	27	19