MGP INGREDIENTS INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data MGP INGREDIENTS INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	318	347	376	363	396	627	782	837	704	536
Cost of revenue	253	271	292	286	297	428	529	532	417	337
Gross profit	65.3	76	83.6	76.5	98.8	199	253	305	286	199
Research and development	0.92
Selling, general and administrative	26.7	33.1	33.5	26.5	41.9	72.8	74.6	91.4	81.4	84.8
Selling and marketing				2.83	2.71	16.1	29.7	38.2	40.5	31.1
Operating income	42	42.9	50.1	47.2	54.2	126	149	149	74.4	-94.6
Interest expense	1.29	1.18	1.17	1.31	2.27	4.04	5.45	6.65	8.44	7.04
Other non-operating income				0	0.63	-1.23	-3.34	-0.22	2.46	1.31
Pre-tax income	44.7	52.8	49	45.9	52.6	121	140	142	68.4	-100
Income tax	13.5	10.9	11.7	7.14	12.3	30.3	31.3	34.6	34	7.48
Net income to minority interests	-4.04			0	0	-0.49	-0.59	-0.35	-0.2	-0.02
Net income	31.2	41.8	37.3	38.8	40.3	91.3	109	107	34.7	-108
EBITDA	53.2	54.2	61.5	58.8	67.2	145	170	171	96.4	-70.5
EPS, basic	1.82	2.44	2.17	2.27	2.37	4.37	4.94	4.82	1.56	-4.99
EPS, diluted	1.82	2.44	2.17	2.27	2.37	4.37	4.92	4.80	1.56	-4.99
Shares, basic (weighted)	16.6	16.7	16.9	17	16.9	20.7	22	22.1	22	21.4
Shares, diluted (weighted)	16.6	16.7	16.9	17	16.9	20.7	22.1	22.2	22	21.4
Dividend per share	0.12	1.01	0.32	0.40	0.48	0.48	0.48	0.48	0.48	0.48

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1.57	3.08	5.03	3.31	21.7	21.6	47.9	18.4	25.3	18.5
Receivables	26.1	34.3	38.8	40.9	57	92.5	109	144	148	116
Other current assets	1.68	2.18	1.32	2.05	2.64	1.51	2.96	3.58	3.98	2.14
Total current assets	111	135	155	184	222	367	454	514	546	523
Property, plant and equipment	92.8	103	121	128	132	207	236	262	317	328
Lease right-of-use assets			0	6.49	5.15	9.67	15	14	15.5	13.8
Goodwill	1.5	1.5			2.74	226	226	322	248	116
Intangible assets					0.89	219	217	272	268	245
Other non-current assets	2.71	2.54	2.48	3.48	3.52	7.34	4.78	3.33	4.17	2.75
Total assets	225	240	278	323	367	1,041	1,158	1,392	1,406	1,236
Accounts payable	20.3	30	25.4	29.5	30.3	53.7	66.4	73.6	66.3	54.6
Accrued liabilities	8.95	11.2	11.7	9.38	20.6	24.9	28.7	31.9	14.4	22.5
Short-term debt	4.36	0.37	0.39	0.4	1.6	3.23	5.6	6.4	6.4	6.4
Total current liabilities	37	41.6	37.5	39.3	53.3	88.8	105	114	92.5	200
Long-term debt	31.6	21.4	21	40.7	38.3	35.3	29.5	281	317	246
Lease liabilities			0	4.27	3.06	7	11.6	11.3	11.9	10.6
Other non-current liabilities	0.39	0.54	4.12	4.17	7.09	5.13	3.72	4.76	2.98	2.53
Total liabilities	79	71.6	76.5	91.6	104	397	413	543	573	519
Total debt	36	24.6	32	41.5	40	240	236	294	329	260
Paid-in capital	14.3	13.9	15.4	14	15.5	316	319	325	332	331
Retained earnings	143	167	199	231	263	344	443	540	564	446
Treasury stock	-17	-18.7	-19.4	-20.2	-23.1	-22.4	-21.6	-21.2	-68	-64.5
Other comprehensive income	-0.37	-0.31	-0.16	-0.25	0.49	0.35	-0.3	-0.4	-0.66	-0.37
Shareholders' equity	146	169	201	231	263	645	747	850	834	718
Minority interests					0	-0.49	-1.08	-1.43	-1.62	-1.65
Total equity	146	169	201	231	263	644	746	849	833	717
Total liabilities and equity	225	240	278	323	367	1,041	1,158	1,392	1,406	1,236
Shares outstanding	16.7	16.8	16.9	17	16.9	22	22	22	21.2	21.3

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	31.2	41.8	37.3	38.8	40.3	90.8	109	107	34.5	-108
Depreciation and amortization	11.3	11.3	11.4	11.6	13	19.1	21.5	22.1	22	24.1
Stock-based compensation	2.4	2.57	3.1	3.3	3	5.56	5.5	10.6	4.02	4.7
Deferred income tax	0.55	-3.46	1.54	0.31	0.14	6.75	0.98	-3.94	0.34	-3.41
Change in receivables	4.59	-8.26	-4.45	-2.13	-16.2	-6.03	-16.8	-32.4	-4.38	32.2
Change in inventory	-20.1	-14.3	-15.6	-28.2	-3.89	-14.2	-44.4	-46.9	-18.2	-18.1
Change in payables	-3.18	9.54	-2.54
Cash from operations	19.7	33.5	33.5	19.7	53.3	88.3	88.9	83.8	102	122
Capital expenditures	-17.9	-21.1	-31	-16.7	-19.7	-47.4	-45.3	-55.3	-71.2	-45.5
Acquisitions	-1.55	0	0	0	-2.75	-149	0	-104	0	0
Cash from investing	-17.7	1.78	-31	-17.9	-19.6	-183	-47.8	-159	-71.6	-45.5
Debt issued	0	20	0	20	0		0	105	125	28
Debt repaid	-2.35	-0.36	-0.37	-0.39	-1.21	-1.62	-3.4	-47.6	-89.4	-97.4
Share buybacks	-1.52	-4.66	-2.32	-5.49	-4.41	-0.77	-0.72	-0.8	-48.8	-1.04
Dividends paid	-2.07	-17.4	-5.5	-6.86	-8.19	-10	-10.6	-10.7	-10.6	-10.3
Cash from financing	-1.22	-33.7	-0.49	-3.51	-15.3	94.3	-14.8	45.9	-23.8	-83.5
Exchange rate effect				0	0	-0.03	-0.04	0.03	-0.03	0.71
Net change in cash	0.82	1.52	1.94	-1.72	18.4	-0.09	26.3	-29.5	6.89	-6.81
Free cash flow	1.8	12.4	2.44	2.99	33.6	40.9	43.6	28.5	31.1	76
Interest paid	1.47	1.49	1.58	1.61	2.21	3.46	5.95	9.24	10.6	9.42
Income taxes paid	16.4	13.5	8.82	7.11	10.6	29.8	29.1	35.1	36.1	10.7

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $12.82 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	36.4%	Gross profit / revenue.
Operating margin	-51.2%	Operating income / revenue.
EBITDA margin	-46.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-52.3%	Pre-tax income / revenue.
Net margin	-46.0%	Net income / revenue.
FCF margin	10.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	16.1%	Cash from operations / revenue.
Return on equity (ROE)	-41.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-23.2%	Net income / average total assets.
Return on invested capital (ROIC)	-25.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	16.2%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.9%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	6.0%	Capital expenditures / revenue.
D&A / revenue	4.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-23.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-11.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-30.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-7.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	15.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-227.1%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-173.2%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	-411.0%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-419.9%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	18.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	11.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	17.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	144.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	20.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	17.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	0.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-13.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-1.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	22.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-12.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	2.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	27.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	4.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.74x	Current assets / current liabilities.
Quick ratio	0.52x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.06x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.42x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	23.8%	Total debt / total assets.
Liabilities / assets	43.8%	Total liabilities / total assets.
Net debt	$234.6M	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	$321.1M	Current assets - current liabilities.
Goodwill and intangibles / assets	20.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$374.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.51x	Revenue / average total assets.
Fixed asset turnover	1.75x	Revenue / average property, plant and equipment.
Receivables turnover	6.02x	Revenue / average receivables.
Days sales outstanding	61 days	365 x average receivables / revenue.
Days payables	55 days	365 x average accounts payable / cost of revenue.
Capex / operating cash flow	37.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$11.20	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$24.36	Revenue / diluted weighted shares.
FCF per share	$2.46	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3.92	Cash from operations / diluted weighted shares.
Book value per share	$27.20	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$17.52	Tangible book value / shares outstanding.
Cash per share	$0.48	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	19.7%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	1.7%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$274.5M	Share price x shares outstanding.
Enterprise value	$509.1M	Market cap + total debt - cash - short-term investments.
P/S	0.53x	Market cap / revenue.
P/B	0.47x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.73x	Market cap / tangible book value, when positive.
P/FCF	5.23x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	3.28x	Market cap / cash from operations, when positive.
EV/Sales	0.98x	Enterprise value / revenue.
EV/FCF	9.69x	Enterprise value / free cash flow, when both are positive.
FCF yield	19.1%	Free cash flow / market cap.
Earnings yield	-87.3%	Net income / market cap (the inverse of P/E).
Dividend yield	3.8%	Dividends paid over the period / market cap.
Shareholder yield	4.1%	(Dividends paid + share buybacks) / market cap.

What was MGP INGREDIENTS INC's revenue in fiscal 2025?

MGP INGREDIENTS INC reported revenue of $536.4M for fiscal 2025, 23.8% lower than the year before.

Was MGP INGREDIENTS INC profitable in fiscal 2025?

No. It reported a net loss of $107.8M.

How much free cash flow did MGP INGREDIENTS INC generate in fiscal 2025?

Cash from operations of $121.5M minus capital expenditures of $45.5M left free cash flow of $76.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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