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The Andersons, Inc.

ANDE Consumer Defensive Food Distribution

The Andersons, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $11.0 billion, down 2.21% from fiscal 2024. In the quarter to June 2026, revenue fell 1.22%, EPS grew 621.7%, free cash flow grew 64.6% and total debt rose 20.6%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.

63.89 2.64 −3.97%
Market cap
$2.3B
P/E
12.3×
Fwd P/E
13.8×
Dividend yield
1.25%
F-score
5/9
Altman Z
4.13
Beneish M
−2.73
Dividend safety
51/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 9.92
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 1 3 — 1 5 5 1 1 1 — — —
Insider Ownership 4.46%

Capital & Financial Ratios $m

Market Cap 2,260.00
Revenue 10,938.89
Net Income 180.44
Free Cash Flow 56.91
Net Debt 834.22
Current Ratio 1.51 (at or above 1.5: strong)
Debt/Equity 0.66
P/E ratio 12.26
Fwd P/E 13.80
P/S ratio 0.20
P/B ratio 1.60
Past 5Y EPS Growth 64.73% (at or above 15%: strong)
This Y EPS Growth 95.94% (at or above 15%: strong)
Next Y EPS Growth 16.77% (at or above 15%: strong)
Next Y revenue growth 5.61%
Next 5Y EPS Growth 17.17% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.3×, against a ten-year median of 0.3×; over the ten years it ranged from 0.1× in 2023 to 0.6× in 2019.
P/E against its own 10 years 21.28%
10-year low 10-year high
P/S against its own 10 years 63.22%
10-year low 10-year high
P/B against its own 10 years 93.43%
10-year low 10-year high
EV/Sales against its own 10 years 56.72%
10-year low 10-year high
EV/FCF against its own 10 years 85.17%
10-year low 10-year high

Dividends

Payout Ratio 0.15
Annual Dividend Rate 0.80
Annual Dividend Yield 1.25%
total individual payouts
2027 Powerpack
2026 0.80
0.20
0.20
0.20
0.20
2025 0.78
0.20
0.20
0.20
0.20
2024 0.57
0.19
0.19
0.19
2023 0.75
0.19
0.19
0.19
0.19
2022 0.73
0.18
0.18
0.18
0.19
2021 0.71
0.18
0.18
0.18
0.18
2020 0.70
0.18
0.18
0.18
0.18
2019 0.69
0.17
0.17
0.17
0.18
2018 0.67
0.17
0.17
0.17
0.17
2017 0.65
0.16
0.16
0.16
0.17
2016 0.63
0.16
0.16
0.16
0.16
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 644 562 98 67
Receivables 763 765 652 755
Inventory 1,167 1,287 1,365 961
Other 234 237 261 299
2,807 2,850 2,376 2,082
2023 2024 2025 Q'26
Payables 1,055 1,047 919 604
ST’ Debt 71 203 313 337
Other 278 254 246 191
1,636 1,731 1,686 1,379

Compound Annual Growth %

10y 5y 3y
Sales 10.12% 6.42% (14.03%)
Cash Flow 1.39% 0.00% (14.89%)
Earnings 0.00% 65.49% (9.95%)
Book Value 5.11% 2.14% (3.37%)

Revenue $m

Mar Jun Sep Dec Year
’26 2,627 3,098 — — —
’25 2,659 3,136 2,678 2,536 11,009
’24 2,718 2,795 2,621 3,123 11,258
’23 3,881 4,020 3,636 3,213 14,750
’22 3,978 4,451 4,219 4,677 17,325
’21 2,595 3,236 2,999 3,783 12,612
’20 1,853 1,890 1,886 2,436 8,065
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (394) 488 — — —
’25 (350) 299 234 (6) 177
’24 (240) 304 (2) 269 332
’23 (334) 541 489 251 947
’22 (1,075) 353 568 440 287
’21 (446) 200 365 (170) (51)
’20 (228) 374 50 (270) (74)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (445) 412 — — —
’25 (397) 250 167 (77) (56)
’24 (266) 276 (40) 213 182
’23 (356) 489 455 209 796
’22 (1,099) 347 540 396 184
’21 (459) 194 348 (192) (109)
’20 (259) 341 44 (284) (158)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.97 1.65 — — —
’25 0.01 0.23 0.59 1.97 2.79
’24 0.16 1.05 0.80 1.31 3.32
’23 (0.44) 1.61 0.28 1.49 2.94
’22 0.16 2.32 1.06 0.26 3.81
’21 0.45 1.30 0.46 0.86 3.07
’20 (1.15) 0.92 (0.03) 0.48 0.23
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 23.25 29.60 27.62 17.40 10.00 22.45 29.35 33.44 39.25 31.03

Analyst estimates 2026–2028

Powerpack
High 44.90 44.45 41.70 38.23 25.88 39.71 59.00 58.84 61.46 56.47
People
People Employees 2,998 1,843 1,858 2,247 2,359 2,371 2,283 2,334 2,299 2,137
Revenue/emp, $m 1.31 2.00 1.64 3.56 3.42 5.32 7.59 6.32 4.90 5.15
Income, $m
Income, $m Revenue 3,925 3,686 3,045 8,003 8,065 12,612 17,325 14,750 11,258 11,009
Gross margin, % 8.80 8.65 9.92 5.76 4.54 4.70 3.95 5.05 6.16 6.48
EBT 21 (21) 53 13 (27) 161 195 170 201 141
EBT margin, % 0.54 (0.56) 1.75 0.16 (0.34) 1.27 1.12 1.15 1.78 1.29
Net income 14 43 41 15 (16) 132 155 133 171 119
Depreciation 84 145 90 146 189 179 135 125 128 133
Per share, $
Per share, $ Revenue 139.21 131.07 107.77 245.72 244.95 378.98 513.63 437.46 330.79 323.45
Earnings 0.41 1.46 1.47 0.55 0.23 3.12 3.89 3.00 3.35 2.81
Cash flow 1.40 2.68 (1.26) 10.70 (2.26) (1.53) 8.51 28.08 9.74 5.20
Capex (3.77) (5.00) (8.14) (7.58) (2.54) (1.75) (3.05) (4.46) (4.38) (6.85)
Free cash flow (2.37) (2.33) (9.40) 3.12 (4.80) (3.28) 5.46 23.62 5.36 (1.65)
Book value 28.05 29.26 31.03 36.71 35.25 39.30 42.39 44.97 47.01 37.91
Shares, m 28 28 28 33 33 33 34 34 34 34
Valuation, ×
Valuation, × P/E 105.61 21.53 20.33 45.14 111.41 12.33 8.78 19.21 12.13 18.92
P/S 0.31 0.24 0.28 0.10 0.10 0.10 0.07 0.13 0.12 0.16
P/B 1.54 1.08 0.96 0.69 0.70 0.99 0.80 1.28 0.86 1.40
EV/Sales 0.42 0.37 0.51 0.25 0.22 0.17 0.11 0.13 0.14 0.23
EV/FCF (24.44) (20.63) (5.81) 19.63 (10.96) (20.20) 10.35 2.43 8.93 (46.04)
Cash, $m
Cash, $m Operating cash flow 40 75 (36) 349 (74) (51) 287 947 332 177
Capex (106) (141) (230) (247) (84) (58) (103) (150) (149) (233)
Free cash flow (67) (65) (266) 102 (158) (109) 184 796 182 (56)
Balance, $m
Balance, $m Working capital 258 260 190 505 485 908 945 1,171 1,119 690
Total debt 474 495 723 1,226 956 1,135 875 634 811 873
Net debt 411 460 700 1,171 927 918 760 (10) 249 775
Shareholders’ equity 791 823 877 1,196 1,161 1,308 1,430 1,516 1,600 1,290
Returns, %
Returns, % ROA 0.50 1.93 1.82 0.58 0.19 2.35 2.86 2.39 2.86 2.44
ROIC 1.06 (1.86) 1.50 0.26 (0.34) 4.51 6.21 6.89 6.43 3.34
ROE 1.47 5.27 4.88 1.77 0.65 8.43 9.58 6.87 7.32 6.62
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

The Andersons, Inc. vs peers in Food Distribution (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SYY Sysco Corporation $38.5B 21.3× 15.8× +4.67% (above 0%: growing) +4.55% (above 0%: growing) +13.54% (above 0%: growing) 18.69% 4.45% Compare
USFD US Foods Holding Corp. $21.0B 29.5× 21.6× +4.46% (above 0%: growing) +29.90% (above 0%: growing) +36.02% (above 0%: growing) 18.22% 4.21% Compare
PFGC Performance Food Group Company $14.9B 41.1× 23.7× +6.43% (above 0%: growing) +22.35% (above 0%: growing) +6.02% (above 0%: growing) 12.03% 1.80% Compare
CHEF The Chefs' Warehouse, Inc. $4.5B 47.4× 38.8× +12.92% (above 0%: growing) +58.18% (above 0%: growing) +987.24% (above 0%: growing) 25.06% 5.02% Compare
UNFI United Natural Foods, Inc. $2.7B 32.0× 19.2× −0.70% (below 0%: shrinking) n/m +11.82% (above 0%: growing) 13.74% 0.90% Compare
ANDE The Andersons, Inc. $2.3B 12.3× 13.8× −1.22% (below 0%: shrinking) +621.74% (above 0%: growing) +64.62% (above 0%: growing) 7.22% 1.61%
AVO Mission Produce, Inc. $1.0B 295× 21.0× +25.80% (above 0%: growing) n/m −161.50% (below 0%: shrinking) 9.93% 0.11% Compare
WILCF G. Willi-Food International, Ltd. $397.9M 13.1× 17.7× +13.27% (above 0%: growing) −21.88% (below 0%: shrinking) +253.73% (above 0%: growing) 33.33% 15.77% Compare
HFFG HF FOODS GROUP INC. $86.8M — (loss-making) 62.3× +2.84% (above 0%: growing) +150.00% (above 0%: growing) −1,361.99% (below 0%: shrinking) 17.00% 0.87% Compare
Median of peers $3.6B 32.0× 21.3× +5.55% +26.13% +12.68% 17.61% 3.01%

All 12 Food Distribution stocks →

The Andersons, Inc. (ANDE) key facts

  • Concern: The Andersons, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $11.0 billion, down 2.21% from fiscal 2024.
  • Concern: Net income was $119.3 million, or $2.81 per share (basic), a net margin of 0.87%.
  • The Andersons, Inc. (ANDE) is a Food Distribution company in the Consumer Defensive sector, listed on Nasdaq.
  • As of October 9, 2026, ANDE traded at $63.89, a market capitalization of $2.3 billion.
  • At that price the stock trades at 12.3× trailing-twelve-month earnings and 0.2× sales; its P/E is higher than 21% of its own readings over the past ten years.
  • The Andersons, Inc. pays an annual dividend of $0.80 per share, a yield of 1.25%, with a payout ratio of 15.4%.
  • Return on equity was 6.62% and debt-to-equity 0.66.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 4.13 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

The Andersons, Inc. (ANDE) Latest News

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stockrow.com/ANDE · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com