Forensic Analysis · Packaged Foods · as of Nov 8, 2026
Tootsie Roll Industries Inc (TR)
A forensic read on Tootsie Roll Industries Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Safe
Financial health
5.0
Distress distance
Clean
Earnings quality
2
Forensic signals
11.0%
ROE
1.3%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Tootsie Roll Industries Inc earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 5.0, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of NOA).
What the filings flag
+10.6%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +10.6% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by receivables up +9% against revenue +1% and PP&E up +8% against revenue +1%. A cash-flow measure on the same base disagrees: reported earnings ran in line with operating cash by 4% of net operating assets, against an accruals ratio of 10.6%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.Accruals ratio: the year-over-year change in net operating assets, relative to their own average.NOA (net operating assets): the money tied up in running the business, operating assets minus operating liabilities.
7.5%
FY2025
Return on invested capital.Return on invested capital is 7.5% in the latest fiscal year and steady across FY2023–FY2025, inside a 1.0-point range. After-tax operating profit was $78M in FY2023 and $74M in FY2025, with operating income at 13.2% of revenue in FY2023, 13.9% in FY2024 and 13.8% in FY2025. The capital base behind it went from $914M in FY2023 to $975M in FY2025 (+7%), while the revenue it carried went from $769M to $733M.
Key fundamentals
Latest Revenue$732.5M
Revenue Growth YoY+1.3%
Revenue CAGR (2yr)-2.4%
Net Margin13.7%
Free Cash Flow$96.4M
Return on Equity11.0%
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Tootsie Roll Industries Inc's actual 10-K/10-Q/8-K filings?