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MGPI

MGP Ingredients, Inc.

MGPI

MGP Ingredients, Inc. • NASDAQ
$22.81 ▼ -0.31% (-0.07)
Market Cap $485.72 M
52w High $47.25
52w Low $21.67
Dividend Yield 0.48%
P/E -36.21
Volume 86.07K
Outstanding Shares 21.29M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $130.912M ▼ $28.417M ▼ $15.422M ▲ 11.78% ▲ $0.71 ▲ $27.63M ▲
Q2-2025 $145.494M ▲ $38.069M ▼ $14.426M ▲ 9.915% ▲ $0.67 ▲ $26.462M ▲
Q1-2025 $121.653M ▼ $44.077M ▼ $-3.024M ▲ -2.486% ▲ $-0.14 ▲ $-747K ▲
Q4-2024 $180.796M ▲ $104.917M ▲ $-41.962M ▼ -23.21% ▼ $-1.91 ▼ $-24.213M ▼
Q3-2024 $161.461M $33.251M $23.905M 14.805% $1.07 $39.27M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $13.447M ▼ $1.377B ▼ $523.494M ▼ $855.187M ▲
Q2-2025 $17.32M ▼ $1.386B ▲ $545.931M ▼ $841.784M ▲
Q1-2025 $20.112M ▼ $1.378B ▼ $551.509M ▼ $828.349M ▼
Q4-2024 $25.273M ▲ $1.406B ▼ $573.242M ▲ $834.166M ▼
Q3-2024 $20.772M $1.441B $527.734M $914.472M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $14.427M ▲ $11.673M ▼ $-12.241M ▲ $-2.89M ▲ $-2.792M ▲ $-557K ▼
Q1-2025 $-3.057M ▲ $44.684M ▲ $-19.926M ▼ $-30.213M ▼ $-5.161M ▼ $24.758M ▲
Q4-2024 $-41.317M ▼ $28.766M ▼ $-18.432M ▲ $-5.755M ▲ $4.501M ▲ $10.435M ▼
Q3-2024 $23.648M ▼ $43.93M ▲ $-19.469M ▼ $-24.769M ▼ $-239K ▼ $24.477M ▲
Q2-2024 $32.017M $4.959M $-6.391M $2.954M $1.514M $-1.412M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Branded Spirits
Branded Spirits
 $60.00M ▲$50.00M ▼$60.00M ▲$60.00M ▲
Distilling Solutions
Distilling Solutions
 $80.00M ▲$50.00M ▼$50.00M ▲$40.00M ▼
Ingredient Solutions
Ingredient Solutions
 $30.00M ▲$30.00M ▲$30.00M ▲$30.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown significantly over the last five years, though the most recent year shows a step down from the prior peak. Profitability improved sharply during the middle of the period, helped by better margins and scale, but slipped more recently as earnings fell faster than sales. The business is still clearly larger and more profitable than it was five years ago, yet the latest year suggests that the easy growth phase may be normalizing. Overall, this looks like a company that successfully scaled up and expanded margins, but is now facing a tougher operating environment and higher cost or mix pressures.

Balance Sheet

Balance Sheet The balance sheet has expanded meaningfully, reflecting acquisitions and growth investments. Both total assets and shareholders’ equity are much higher than five years ago, which points to a larger and more established enterprise. Debt has also risen, but it appears to be supported by a stronger equity base rather than aggressive borrowing alone. Cash on hand is modest relative to total assets, which is typical for a capital‑intensive, ongoing-operations business but means access to credit and consistent cash generation remain important.

Cash Flow

Cash Flow Operating cash flow has grown over time and has been consistently positive, indicating that the core business reliably converts profits into cash. Free cash flow has also stayed positive but fairly steady, because rising investment spending has largely absorbed the gains in operating cash. Capital spending has clearly increased as the company invests in capacity, brands, and efficiency projects, but these outlays are still being funded from internal cash rather than stretching the balance sheet excessively. The pattern suggests a business in an investment phase, with a reasonable balance between growth spending and cash discipline.

Competitive Edge

Competitive Edge MGP has shifted from being mainly a behind-the-scenes distiller to a more balanced model that includes well-known branded spirits and specialty ingredients. Its scale in U.S. distillation, long operating history, and technical expertise give it an edge in supplying both major beverage companies and emerging brands. Strong customer relationships, including custom formulations and “white label” production, create switching costs that help defend its position. At the same time, it competes in markets that are exposed to shifting consumer tastes, private-label competition, and regulatory oversight, so continued brand building and innovation are critical to maintaining its edge.

Innovation and R&D

Innovation and R&D Innovation is anchored in two areas: advanced distilling and blending capabilities, and specialized grain-based ingredients. On the beverage side, the company is leaning into premium categories like high-end American whiskey, tequila, and gin, using acquisitions and new product launches to move up the value chain. In ingredients, it is developing higher-value products such as keto-friendly flours, plant-based proteins, and functional fibers, supported by a dedicated R&D leadership role. These efforts aim to turn more of its raw material streams into branded or specialty products, which can support margins but require ongoing investment, careful execution, and close alignment with evolving diet and wellness trends.

Summary

MGP today is a larger, more profitable, and more diversified company than it was five years ago, having successfully used acquisitions and innovation to move from a commodity distiller toward branded spirits and specialty ingredients. The income statement shows clear multi-year growth with some recent slowing, while the balance sheet and cash flows reflect a business that is investing heavily but still funding itself in a disciplined way. Its competitive advantage rests on scale, technical know-how, and deep customer relationships, now reinforced by a growing portfolio of consumer-facing brands. Future performance will hinge on how well management manages integration, keeps margins healthy in a more challenging environment, and continues to innovate in both premium spirits and health‑oriented ingredients without overextending the balance sheet.

NEWS

October 29, 2025 · 7:45 AM UTC

MGP Ingredients Appoints Matias Bentel as Chief Marketing Officer and Chris Wiseman as Senior Vice President, Operations

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October 29, 2025 · 7:30 AM UTC

MGP Ingredients Reports Third Quarter 2025 Results

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October 29, 2025 · 7:25 AM UTC

MGP Ingredients Declares $0.12 Quarterly Dividend

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October 28, 2025 · 10:30 AM UTC

Ross & Squibb Distillery announces the return of Remus Gatsby Reserve

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October 16, 2025 · 5:51 PM UTC

MGPI INVESTIGATION REMINDER: Bragar Eagel & Squire, P.C. Continues Investigation into MGP Ingredients, Inc. on Behalf of Long-Term Stockholders

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