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Treehouse Foods Financials

THS
Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Treehouse Foods (THS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 36 / 100
Financial Profile 36/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
29

Treehouse Foods has an operating margin of 3.1%, meaning the company retains $3 of operating profit per $100 of revenue. This below-average margin results in a low score of 29/100, suggesting thin profitability after operating expenses. This is down from 4.3% the prior year.

Growth
30

Treehouse Foods's revenue declined 2.3% year-over-year, from $3.4B to $3.4B. This contraction results in a growth score of 30/100.

Leverage
84

Treehouse Foods carries a low D/E ratio of 0.91, meaning only $0.91 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 84/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
22

Treehouse Foods's current ratio of 1.36 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 22/100, which could limit financial flexibility.

Returns
15

Treehouse Foods generates a 1.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 15/100. This is down from 3.2% the prior year.

Altman Z-Score Distress
1.23

Treehouse Foods scores 1.23, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral
5/9

Treehouse Foods passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed
9.88x

For every $1 of reported earnings, Treehouse Foods generates $9.88 in operating cash flow ($265.8M OCF vs $26.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk
1.6x

Treehouse Foods earns $1.6 in operating income for every $1 of interest expense ($103.1M vs $63.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$3.4B
YoY-2.3%
5Y CAGR-4.8%
10Y CAGR+1.3%

Treehouse Foods generated $3.4B in revenue in fiscal year 2024. This represents a decrease of 2.3% from the prior year.

EBITDA
$250.2M
YoY-13.4%
5Y CAGR+5.2%
10Y CAGR-2.8%

Treehouse Foods's EBITDA was $250.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 13.4% from the prior year.

Net Income
$26.9M
YoY-49.3%
10Y CAGR-11.4%

Treehouse Foods reported $26.9M in net income in fiscal year 2024. This represents a decrease of 49.3% from the prior year.

EPS (Diluted)
$0.51
YoY-45.7%
10Y CAGR-13.7%

Treehouse Foods earned $0.51 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 45.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$289.6M
YoY-9.6%
5Y CAGR+7.4%
10Y CAGR+18.7%

Treehouse Foods held $289.6M in cash against $1.4B in long-term debt as of fiscal year 2024.

Dividends Per Share
N/A
Shares Outstanding
50M
YoY-7.2%
5Y CAGR-2.2%
10Y CAGR+1.6%

Treehouse Foods had 50M shares outstanding in fiscal year 2024. This represents a decrease of 7.2% from the prior year.

Margins & Returns

Gross Margin
16.4%
YoY-0.4pp
5Y CAGR-2.2pp
10Y CAGR-4.2pp

Treehouse Foods's gross margin was 16.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.4 percentage points from the prior year.

Operating Margin
3.1%
YoY-1.2pp
5Y CAGR+3.5pp
10Y CAGR-4.3pp

Treehouse Foods's operating margin was 3.1% in fiscal year 2024, reflecting core business profitability. This is down 1.2 percentage points from the prior year.

Net Margin
0.8%
YoY-0.8pp
5Y CAGR+9.2pp
10Y CAGR-2.3pp

Treehouse Foods's net profit margin was 0.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 0.8 percentage points from the prior year.

Return on Equity
1.7%
YoY-1.4pp
5Y CAGR+21.5pp
10Y CAGR-3.4pp

Treehouse Foods's ROE was 1.7% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.4 percentage points from the prior year.

Capital Allocation

R&D Spending
$13.9M
YoY+6.9%
5Y CAGR-5.9%
10Y CAGR+0.8%

Treehouse Foods invested $13.9M in research and development in fiscal year 2024. This represents an increase of 6.9% from the prior year.

Share Buybacks
$149.7M
YoY+49.7%

Treehouse Foods spent $149.7M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 49.7% from the prior year.

Capital Expenditures
N/A

THS Income Statement

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Revenue $840.3M+5.3% $798.0M+0.8% $792.0M-12.6% $905.7M+7.9% $839.1M+6.4% $788.5M-3.9% $820.7M-9.9% $910.8M
Cost of Revenue $682.4M+3.6% $658.8M-2.7% $676.8M-7.1% $728.8M+3.0% $707.9M+7.2% $660.2M-6.8% $708.7M N/A
Gross Profit $157.9M+13.4% $139.2M+20.8% $115.2M-34.9% $176.9M+34.8% $131.2M+2.3% $128.3M+14.6% $112.0M-26.2% $151.8M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $45.3M-11.7% $51.3M-7.9% $55.7M+32.6% $42.0M-8.7% $46.0M-15.1% $54.2M-2.9% $55.8M N/A
Operating Income -$254.1M-1030.8% $27.3M+596.4% -$5.5M-106.8% $80.5M+153.1% $31.8M+895.0% -$4.0M+23.1% -$5.2M N/A
Interest Expense $23.9M+7.7% $22.2M+15.0% $19.3M+19.1% $16.2M+1.3% $16.0M+2.6% $15.6M0.0% $15.6M N/A
Income Tax -$1.7M+37.0% -$2.7M+77.1% -$11.8M-179.2% $14.9M+1755.6% -$900K+78.6% -$4.2M-16.7% -$3.6M N/A
Net Income -$265.8M-9065.5% -$2.9M+90.9% -$31.8M-154.2% $58.7M+1826.5% -$3.4M+79.6% -$16.7M-42.7% -$11.7M-256.0% $7.5M
EPS (Diluted) $-5.26-8666.7% $-0.06+90.5% $-0.63 N/A $-0.07+78.1% $-0.32-45.5% $-0.22-257.1% $0.14

THS Balance Sheet

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Total Assets $3.8B-6.6% $4.0B+3.0% $3.9B-1.3% $4.0B+0.3% $4.0B+1.6% $3.9B-1.4% $4.0B-3.5% $4.1B
Current Assets $968.6M+6.7% $908.1M+17.1% $775.5M-23.2% $1.0B+1.0% $999.5M+7.7% $928.3M-2.8% $955.3M-9.4% $1.1B
Cash & Equivalents $21.0M+22.8% $17.1M+4.3% $16.4M-94.3% $289.6M+183.9% $102.0M-3.6% $105.8M-44.8% $191.8M-40.1% $320.3M
Inventory $668.2M+5.3% $634.8M+7.7% $589.2M+9.3% $539.3M-12.6% $617.3M+4.2% $592.4M+9.2% $542.3M+1.6% $534.0M
Accounts Receivable $221.7M+3.9% $213.3M-24.5% $282.5M-24.7% $375.0M+55.3% $241.5M+4.7% $230.6M-5.2% $243.2M-29.3% $343.8M
Goodwill $1.6B-15.4% $1.9B+0.2% $1.9B+3.8% $1.8B-0.2% $1.8B0.0% $1.8B0.0% $1.8B-0.1% $1.8B
Total Liabilities $2.5B-0.2% $2.5B+4.6% $2.4B-0.9% $2.4B+0.6% $2.4B+2.6% $2.4B+0.1% $2.4B-3.6% $2.4B
Current Liabilities $748.8M+4.0% $720.2M+5.8% $680.7M-8.6% $744.9M+4.0% $716.2M+10.9% $645.7M+2.6% $629.3M-10.6% $704.3M
Long-Term Debt $1.5B-0.2% $1.5B+5.5% $1.4B+1.8% $1.4B0.0% $1.4B0.0% $1.4B0.0% $1.4B0.0% $1.4B
Total Equity $1.3B-17.2% $1.5B+0.4% $1.5B-1.9% $1.5B-0.2% $1.6B+0.2% $1.6B-3.6% $1.6B-3.4% $1.7B
Retained Earnings -$522.5M-103.5% -$256.7M-1.1% -$253.8M-14.3% -$222.0M+20.9% -$280.7M-1.2% -$277.3M-6.4% -$260.6M-4.7% -$248.9M

THS Cash Flow Statement

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Operating Cash Flow $38.2M+180.9% -$47.2M+11.8% -$53.5M-118.1% $296.2M+615.5% $41.4M+313.4% -$19.4M+63.0% -$52.4M-135.6% $147.0M
Capital Expenditures N/A N/A N/A N/A N/A $22.8M-19.4% $28.3M-54.9% $62.7M
Free Cash Flow N/A N/A N/A N/A N/A -$42.2M+47.7% -$80.7M-195.7% $84.3M
Investing Cash Flow -$22.9M+16.4% -$27.4M+88.1% -$231.1M-380.5% -$48.1M-18.8% -$40.5M-87.5% -$21.6M+23.1% -$28.1M-107.8% $360.5M
Financing Cash Flow -$13.4M-117.2% $78.0M+596.4% $11.2M+118.1% -$62.0M-1309.1% -$4.4M+90.2% -$45.1M+5.6% -$47.8M+76.8% -$206.2M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $0 $0 $0-100.0% $61.0M $0-100.0% $44.8M+2.1% $43.9M-12.2% $50.0M

THS Financial Ratios

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Gross Margin 18.8%+1.4pp 17.4%+2.9pp 14.5%-5.0pp 19.5%+3.9pp 15.6%-0.6pp 16.3%+2.6pp 13.7%-3.0pp 16.7%
Operating Margin -30.2%-33.7pp 3.4%+4.1pp -0.7%-9.6pp 8.9%+5.1pp 3.8%+4.3pp -0.5%+0.1pp -0.6% N/A
Net Margin -31.6%-31.3pp -0.4%+3.7pp -4.0%-10.5pp 6.5%+6.9pp -0.4%+1.7pp -2.1%-0.7pp -1.4%-2.3pp 0.8%
Return on Equity -21.1%-20.9pp -0.2%+1.9pp -2.1%-5.9pp 3.8%+4.0pp -0.2%+0.9pp -1.1%-0.4pp -0.7%-1.2pp 0.4%
Return on Assets -7.0%-7.0pp -0.1%+0.7pp -0.8%-2.3pp 1.5%+1.6pp -0.1%+0.3pp -0.4%-0.1pp -0.3%-0.5pp 0.2%
Current Ratio 1.29+0.0 1.26+0.1 1.14-0.2 1.36-0.0 1.40-0.0 1.44-0.1 1.52+0.0 1.50
Debt-to-Equity 1.19+0.2 0.99+0.0 0.94+0.0 0.910.0 0.900.0 0.91+0.0 0.87+0.0 0.84
FCF Margin N/A N/A N/A N/A N/A -5.3%+4.5pp -9.8%-19.1pp 9.3%

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Frequently Asked Questions

Treehouse Foods (THS) reported $3.4B in total revenue for fiscal year 2024. This represents a -2.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Treehouse Foods (THS) revenue declined by 2.3% year-over-year, from $3.4B to $3.4B in fiscal year 2024.

Yes, Treehouse Foods (THS) reported a net income of $26.9M in fiscal year 2024, with a net profit margin of 0.8%.

Treehouse Foods (THS) reported diluted earnings per share of $0.51 for fiscal year 2024. This represents a -45.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Treehouse Foods (THS) had EBITDA of $250.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2024, Treehouse Foods (THS) had $289.6M in cash and equivalents against $1.4B in long-term debt.

Treehouse Foods (THS) had a gross margin of 16.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

Treehouse Foods (THS) had an operating margin of 3.1% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

Treehouse Foods (THS) had a net profit margin of 0.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Treehouse Foods (THS) has a return on equity of 1.7% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

Treehouse Foods (THS) generated $265.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

Treehouse Foods (THS) had $4.0B in total assets as of fiscal year 2024, including both current and long-term assets.

Treehouse Foods (THS) invested $13.9M in research and development during fiscal year 2024.

Yes, Treehouse Foods (THS) spent $149.7M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

Treehouse Foods (THS) had 50M shares outstanding as of fiscal year 2024.

Treehouse Foods (THS) had a current ratio of 1.36 as of fiscal year 2024, which is considered adequate.

Treehouse Foods (THS) had a debt-to-equity ratio of 0.91 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

Treehouse Foods (THS) had a return on assets of 0.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

Treehouse Foods (THS) has an Altman Z-Score of 1.23, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Treehouse Foods (THS) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Treehouse Foods (THS) has an earnings quality ratio of 9.88x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Treehouse Foods (THS) has an interest coverage ratio of 1.6x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Treehouse Foods (THS) scores 36 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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