Alto Ingredients, Inc. (ALTO) intrinsic value & 10-year financials
Alto Ingredients, Inc. (ALTO) has a Graham intrinsic value of $5.31 per share. At $3.45 on Oct 17, 2026, the stock trades 35% below that value. Over the last 10 fiscal years revenue shrank 6.2% a year to $917.9M, with an average return on invested capital of -5.0%.
- Graham intrinsic value
- $5.31
- Share price (Oct 17, 2026)
- $3.45
- Price vs Graham value
- 35% below
- Market cap
- $261.0M
- Revenue (FY2025)
- $917.9M
- Revenue growth (10-yr CAGR)
- -6.2%
- ROIC (10-yr avg)
- -5.0%
- Free cash flow (FY2025)
- $8.6M
ALTO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $917.9M | $13.3M | $0.16 | $8.6M | 0.8% | 2.4% |
| FY2024 | $965.3M | -$59.0M | -$0.82 | -$14.6M | -5.4% | -15.9% |
| FY2023 | $1.2B | -$28.0M | -$0.40 | -$7.5M | -2.0% | -6.8% |
| FY2022 | $100.0M | -$41.6M | -$0.00 | -$31.7M | -61.4% | -17.5% |
| FY2021 | $1.2B | $46.1M | $0.00 | $10.4M | 3.3% | 11.2% |
| FY2020 | $897.0M | -$15.1M | -$0.00 | $65.2M | 1.1% | 2.5% |
| FY2019 | $1.4B | -$88.9M | -$0.00 | -$26.6M | -5.2% | -15.7% |
| FY2018 | $1.5B | -$60.3M | -$0.00 | -$13.6M | -3.4% | -9.7% |
| FY2017 | $1.6B | -$35.0M | -$0.00 | $15.6M | -1.6% | -4.8% |
| FY2016 | $1.6B | $1.4M | $0.00 | $18.1M | 1.4% | 4.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Alto Ingredients, Inc. is facing top-line stagnation, with revenue contracting over the decade.
Alto Ingredients, Inc. has historically struggled to out-earn its cost of capital, averaging just -5.0% ROIC.
Over the decade, Alto Ingredients, Inc. shows that management has aggressively returned capital to shareholders by retiring 100.0% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Alto Ingredients, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $5.31 per share.