NASDAQ : ANDE
The Andersons, Inc. — Financial statements
Consumer Staples · Food Distribution · United States
Last price 64.29 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.16B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
The Andersons, Inc. (ANDE) reported revenue of 10.94B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 10.94B | 11.01B | 11.26B | 14.75B | 17.33B | 12.61B |
| Cost of Revenue | 10.15B | 10.30B | 10.58B | 14.02B | 16.64B | 12.02B |
| Gross Profit | 785.28M | 712.25M | 674.53M | 732.86M | 684.16M | 592.70M |
| Selling, General & Admin | 615.90M | 577.81M | 500.09M | 491.21M | 456.55M | 422.12M |
| Operating Expenses | 617.43M | 579.33M | 501.22M | 492.26M | 457.56M | 423.13M |
| Operating Income | 167.85M | 132.92M | 173.31M | 240.60M | 226.61M | 169.57M |
| Interest Expense | -54.06M | -47.16M | -31.76M | -46.87M | -56.85M | -37.29M |
| Interest & Investment Income | 3.43M | 7.20M | 21.09M | 13.01M | 3.00M | 1.53M |
| Earnings From Equity Investments | 4.84M | |||||
| Other Non Operating Income (Expenses) | 97.92M | 44.14M | 8.22M | 16.93M | 863.00K | 12.56M |
| EBT Excluding Unusual Items | 215.14M | 137.10M | 170.86M | 223.68M | 173.62M | 151.21M |
| Merger & Restructuring Charges | -5.90M | -5.90M | -2.40M | |||
| Gain (Loss) on Sale of Investments | 3.12M | 6.54M | ||||
| Gain (Loss) on Sale of Assets | 1.69M | 14.66M | ||||
| Asset Writedown | -18.13M | -18.13M | -87.16M | -9.00M | -8.95M | |
| Other Unusual Items | 2.19M | 17.64M | ||||
| Pretax Income | 214.65M | 141.47M | 200.76M | 169.56M | 194.58M | 160.77M |
| Income Tax Expense | 34.21M | 22.17M | 30.06M | 37.03M | 39.63M | 29.23M |
| Earnings From Continuing Operations | 180.44M | 119.30M | 170.70M | 132.53M | 154.95M | 131.54M |
| Earnings From Discontinued Operations | 12.03M | 4.32M | ||||
| Net Income to Company | 180.44M | 119.30M | 170.70M | 132.53M | 166.98M | 135.87M |
| Minority Interest in Earnings | -3.12M | -23.59M | -56.69M | -31.34M | -35.90M | -31.88M |
| Net Income | 177.32M | 95.71M | 114.01M | 101.19M | 131.08M | 103.99M |
| Net Income to Common | 177.32M | 95.71M | 114.01M | 101.19M | 131.08M | 103.99M |
| Shares Outstanding (Basic) | 33.97M | 34.04M | 34.03M | 33.72M | 33.73M | 33.28M |
| Shares Outstanding (Diluted) | 34.30M | 34.34M | 34.32M | 34.38M | 34.42M | 33.85M |
| EPS (Basic) | 5.22 | 2.81 | 3.35 | 3.00 | 3.89 | 3.12 |
| EPS (Diluted) | 5.17 | 2.79 | 3.32 | 2.94 | 3.81 | 3.07 |
| Free Cash Flow | 56.91M | -56.12M | 182.32M | 796.31M | 147.38M | -132.85M |
| Free Cash Flow Per Share | 1.66 | -1.64 | 5.31 | 23.16 | 4.28 | -3.92 |
| Dividend Per Share | 0.79 | 0.78 | 0.76 | 0.74 | 0.72 | 0.70 |
| Gross Margin | 7.18% | 6.47% | 5.99% | 4.97% | 3.95% | 4.70% |
| Operating Margin | 1.53% | 1.21% | 1.54% | 1.63% | 1.31% | 1.34% |
| Profit Margin | 1.62% | 0.87% | 1.01% | 0.69% | 0.76% | 0.82% |
| Free Cash Flow Margin | 0.52% | -0.51% | 1.62% | 5.40% | 0.85% | -1.05% |
| EBITDA | 302.51M | 266.24M | 301.11M | 365.71M | 361.35M | 326.75M |
| EBITDA Margin | 2.77% | 2.42% | 2.67% | 2.48% | 2.09% | 2.59% |
| D&A For EBITDA | 134.66M | 133.32M | 127.80M | 125.11M | 134.74M | 157.17M |
| EBIT | 167.85M | 132.92M | 173.31M | 240.60M | 226.61M | 169.57M |
| EBIT Margin | 1.53% | 1.21% | 1.54% | 1.63% | 1.31% | 1.34% |
| Effective Tax Rate | 15.94% | 15.67% | 14.97% | 21.84% | 20.37% | 18.18% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 66.55M | 98.28M | 561.77M | 643.85M | 115.27M | 216.44M |
| Trading Asset Securities | 4.84M | 6.76M | 9.97M | 8.76M | ||
| Cash & Short-Term Investments | 66.55M | 103.12M | 568.53M | 653.82M | 124.03M | 216.44M |
| Receivables | 755.22M | 652.47M | 764.55M | 762.55M | 1.25B | 835.18M |
| Inventory | 961.00M | 1.37B | 1.29B | 1.17B | 1.73B | 1.81B |
| Other Current Assets | 299.02M | 255.70M | 230.38M | 223.89M | 361.32M | 506.17M |
| Total Current Assets | 2.08B | 2.38B | 2.85B | 2.81B | 3.47B | 3.37B |
| Property, Plant & Equipment | 979.62M | 1.05B | 972.78M | 747.60M | 824.62M | 838.17M |
| Long-Term Investments | 30.76M | 36.91M | 33.67M | 38.92M | 16.19M | |
| Goodwill | 127.86M | 127.86M | 127.86M | 129.34M | 129.34M | |
| Other Intangible Assets | 63.51M | 69.34M | 85.58M | 100.91M | 117.14M | |
| Long-Term Deferred Tax Assets | 30.63M | 1.63M | 1.20M | 4.30M | 1.50M | |
| Other Long-Term Assets | 412.88M | 35.38M | 62.51M | 52.14M | 43.96M | 94.55M |
| Total Assets | 3.47B | 3.71B | 4.12B | 3.86B | 4.61B | 4.57B |
| Accounts Payable | 603.59M | 918.69M | 1.05B | 1.06B | 1.42B | 1.20B |
| Accrued Expenses | 247.30M | 181.04M | 201.42M | 209.97M | 217.43M | 204.12M |
| Short-Term Debt | 314.37M | 249.42M | 166.61M | 43.11M | 272.57M | 501.79M |
| Current Portion of Long-Term Debt | 22.92M | 61.65M | 34.26M | 26.43M | 108.59M | 35.52M |
| Current Portion of Leases | 29.12M | 27.66M | 23.46M | 26.93M | 21.70M | |
| Current Unearned Revenue | 87.21M | 195.33M | 194.03M | 187.05M | 370.52M | 358.12M |
| Other Current Liabilities | 103.71M | 51.15M | 59.77M | 90.85M | 101.64M | 143.36M |
| Total Current Liabilities | 1.38B | 1.69B | 1.73B | 1.64B | 2.52B | 2.46B |
| Long-Term Debt | 563.48M | 553.25M | 598.84M | 555.08M | 484.12M | 596.28M |
| Long-Term Leases | 79.10M | 74.93M | 39.54M | 45.55M | 42.08M | |
| Pension & Post-Retirement Benefits | 16.02M | 16.16M | 22.58M | |||
| Long-Term Deferred Tax Liabilities | 14.21M | 55.01M | 58.58M | 64.08M | 71.13M | |
| Other Long-Term Liabilities | 174.13M | 89.64M | 61.54M | 33.06M | 47.00M | 65.51M |
| Total Liabilities | 2.12B | 2.42B | 2.52B | 2.34B | 3.18B | 3.26B |
| Common Stock | 144.00K | 144.00K | 142.00K | 142.00K | 142.00K | 140.00K |
| Additional Paid-In Capital | 204.95M | 208.43M | 385.61M | 387.21M | 385.25M | 368.60M |
| Retained Earnings | 1.11B | 1.04B | 970.71M | 882.94M | 807.77M | 702.76M |
| Treasury Stock | -11.29M | -14.08M | -2.86M | -10.26M | -15.04M | -263.00K |
| Comprehensive Income & Other | 10.15M | 11.34M | 12.59M | 22.86M | 20.48M | 1.19M |
| Total Common Equity | 1.32B | 1.24B | 1.37B | 1.28B | 1.20B | 1.07B |
| Minority Interest | 38.88M | 45.46M | 233.65M | 233.49M | 231.17M | 235.28M |
| Shareholders' Equity | 1.36B | 1.29B | 1.60B | 1.52B | 1.43B | 1.31B |
| Total Liabilities & Equity | 3.47B | 3.71B | 4.12B | 3.86B | 4.61B | 4.57B |
| Total Debt | 900.76M | 972.53M | 902.29M | 687.61M | 937.76M | 1.20B |
| Net Cash (Debt) | -834.22M | -869.41M | -333.76M | -33.79M | -813.73M | -980.93M |
| Net Cash Per Share | -24.32 | -25.32 | -9.72 | -0.98 | -23.64 | -28.97 |
| Filing Date Shares Outstanding | 33.66M | 33.56M | 33.79M | 33.58M | 33.29M | 33.31M |
| Total Common Shares Outstanding | 33.70M | 33.52M | 33.77M | 33.55M | 33.37M | 33.47M |
| Working Capital | 702.70M | 690.01M | 1.12B | 1.17B | 944.63M | 908.40M |
| Book Value Per Share | 39.13 | 37.13 | 40.46 | 38.24 | 35.92 | 32.04 |
| Tangible Book Value | 1.32B | 1.05B | 1.17B | 1.07B | 968.35M | 825.95M |
| Tangible Book Value Per Share | 39.13 | 31.42 | 34.62 | 31.88 | 29.02 | 24.68 |
| Land | 34.36M | 39.28M | 30.91M | 38.69M | 39.16M | |
| Buildings | 496.58M | 622.77M | 365.74M | 364.72M | 368.58M | |
| Machinery | 1.16B | 1.04B | 951.54M | 980.16M | 936.48M | |
| Construction In Progress | 96.58M | 39.61M | 36.54M | 41.43M | 20.68M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 177.32M | 95.71M | 114.01M | 101.19M | 131.08M | 103.99M |
| Depreciation & Amortization | 134.66M | 133.32M | 127.80M | 125.11M | 134.74M | 157.17M |
| Loss (Gain) From Sale of Assets | -14.62M | |||||
| Asset Writedown & Restructuring Costs | 18.13M | 18.13M | 87.16M | 11.82M | 8.95M | |
| Stock-Based Compensation | 16.98M | 16.98M | 13.63M | 12.86M | 11.19M | 11.04M |
| Provision & Write-off of Bad Debts | 4.66M | 4.66M | 17.64M | 11.52M | 6.00M | 237.00K |
| Other Operating Activities | 7.65M | 9.36M | 50.18M | 13.40M | 35.27M | -77.54M |
| Change in Accounts Receivable | -4.52M | 104.57M | 35.78M | 468.97M | -391.40M | -184.00M |
| Change in Inventory | -191.71M | -72.40M | 87.91M | 572.24M | 56.86M | -528.07M |
| Change in Accounts Payable | 114.85M | -144.08M | -102.40M | -563.72M | 230.29M | 667.82M |
| Change in Other Net Operating Assets | 43.92M | 10.73M | -13.04M | 118.03M | 76.33M | -223.59M |
| Operating Cash Flow | 321.94M | 177.00M | 331.51M | 946.75M | 287.12M | -51.05M |
| Capital Expenditures | -265.03M | -233.12M | -149.19M | -150.44M | -139.74M | -81.81M |
| Sale of Property, Plant & Equipment | 36.71M | 23.66M | ||||
| Cash Acquisitions | -29.17M | -24.70M | -20.25M | -11.43M | ||
| Divestitures | 11.26M | 11.26M | 10.32M | 5.17M | 18.13M | |
| Investment in Securities | -6.24M | |||||
| Other Investing Activities | 10.90M | 26.55M | 15.29M | 10.94M | 65.21M | 544.93M |
| Investing Cash Flow | -242.87M | -195.31M | -163.07M | -153.88M | -52.90M | 487.25M |
| Short-Term Debt Issued | 79.90M | 350.00M | 608.25M | |||
| Long-Term Debt Issued | 14.70M | 67.00M | 100.00M | 203.00M | ||
| Total Debt Issued | 231.59M | 94.60M | 67.00M | 100.00M | 350.00M | 811.25M |
| Short-Term Debt Repaid | -91.95M | -233.70M | -571.27M | -514.14M | ||
| Long-Term Debt Repaid | -36.21M | -83.59M | -49.62M | -30.05M | -530.73M | |
| Total Debt Repaid | -77.67M | -36.21M | -175.54M | -283.32M | -601.32M | -1.04B |
| Net Debt Issued (Repaid) | 153.92M | 58.39M | -108.54M | -183.32M | -251.32M | -233.63M |
| Repurchase of Common Stock | -21.86M | -15.37M | -2.29M | -1.75M | -16.10M | |
| Common Dividends Paid | -27.12M | -26.85M | -26.27M | -25.37M | -24.61M | -23.75M |
| Other Financing Activities | -467.30M | -463.32M | -113.25M | -53.56M | -42.70M | 8.61M |
| Financing Cash Flow | -362.37M | -447.15M | -250.36M | -263.99M | -334.73M | -248.77M |
| Foreign Exchange Rate Adjustments | -1.13M | 1.98M | -156.00K | -293.00K | -660.00K | -108.00K |
| Net Cash Flow | -284.42M | -463.49M | -82.08M | 528.59M | -101.17M | 187.32M |
| Free Cash Flow | 56.91M | -56.12M | 182.32M | 796.31M | 147.38M | -132.85M |
| Free Cash Flow Margin | 0.52% | -0.51% | 1.62% | 5.40% | 0.85% | -1.05% |
| Free Cash Flow Per Share | 1.66 | -1.64 | 5.31 | 23.16 | 4.28 | -3.92 |
| Levered Free Cash Flow | -109.11M | -177.20M | -88.59M | 727.50M | 134.56M | -133.36M |
| Unlevered Free Cash Flow | -75.32M | -147.72M | -68.74M | 756.79M | 170.09M | -110.05M |
| Cash Interest Paid | 46.00M | 46.00M | 31.10M | 47.00M | 56.70M | 38.20M |
| Cash Income Tax Paid | 16.20M | 16.20M | 31.50M | 88.70M | 51.70M | |
| Change in Working Capital | -37.46M | -101.17M | 8.24M | 595.52M | -27.92M | -267.85M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.16B | 1.79B | 1.37B | 1.93B | 1.16B | 1.27B |
| Enterprise Value | 3.00B | 2.52B | 1.69B | 2.35B | 2.54B | 2.23B |
| Last Close Price | 64.29 | 52.51 | 39.24 | 55.11 | 33.00 | 35.78 |
| PE Ratio | 12.44 | 18.66 | 12.02 | 19.05 | 8.84 | 12.18 |
| Forward PE | 10.48 | 16.04 | 12.13 | 14.96 | 14.66 | 17.44 |
| PS Ratio | 0.20 | 0.16 | 0.12 | 0.13 | 0.07 | 0.10 |
| PB Ratio | 1.64 | 1.38 | 0.86 | 1.27 | 0.81 | 0.97 |
| P/TBV Ratio | 1.64 | 1.70 | 1.17 | 1.80 | 1.20 | 1.53 |
| P/FCF Ratio | 38.02 | 7.52 | 2.42 | 7.86 | ||
| P/OCF Ratio | 6.72 | 10.09 | 4.13 | 2.04 | 4.04 | |
| PEG Ratio | 1.29 | 1.29 | 1.29 | 1.29 | 1.29 | |
| EV/Sales Ratio | 0.27 | 0.23 | 0.15 | 0.16 | 0.15 | 0.18 |
| EV/EBITDA Ratio | 9.91 | 9.45 | 5.61 | 6.43 | 7.03 | 6.83 |
| EV/EBIT Ratio | 17.86 | 18.94 | 9.75 | 9.77 | 11.21 | 13.15 |
| EV/FCF Ratio | 52.68 | 9.26 | 2.95 | 17.24 | ||
| Debt / Equity Ratio | 0.66 | 0.75 | 0.56 | 0.45 | 0.66 | 0.92 |
| Debt / EBITDA Ratio | 2.59 | 3.13 | 2.68 | 1.73 | 2.38 | 3.40 |
| Debt / FCF Ratio | 15.83 | 4.95 | 0.86 | 6.36 | ||
| Net Debt / Equity Ratio | 0.61 | 0.67 | 0.21 | 0.02 | 0.57 | 0.75 |
| Net Debt / EBITDA Ratio | 2.76 | 3.27 | 1.11 | 0.09 | 2.25 | 3.00 |
| Net Debt / FCF Ratio | 14.66 | -15.49 | 1.83 | 0.04 | 5.52 | -7.38 |
| Asset Turnover | 3.16 | 2.81 | 2.82 | 3.49 | 3.78 | 2.85 |
| Inventory Turnover | 11.72 | 7.76 | 8.63 | 9.67 | 9.38 | 7.74 |
| Quick Ratio | 0.60 | 0.45 | 0.77 | 0.87 | 0.55 | 0.43 |
| Current Ratio | 1.51 | 1.41 | 1.65 | 1.72 | 1.38 | 1.37 |
| Return on Equity (ROE) | 12.16% | 8.26% | 10.96% | 9.00% | 11.32% | 10.66% |
| Return on Assets (ROA) | 3.03% | 2.12% | 2.72% | 3.55% | 3.09% | 2.40% |
| Return on Invested Capital (ROIC) | 5.96% | 5.48% | 8.46% | 9.91% | 7.96% | 5.73% |
| Return on Capital Employed (ROCE) | 8.00% | 6.60% | 7.30% | 10.80% | 10.90% | 8.10% |
| Earnings Yield | 8.04% | 5.36% | 8.32% | 5.25% | 11.31% | 8.21% |
| FCF Yield | 2.63% | -3.14% | 13.30% | 41.31% | 12.72% | -10.49% |
| Dividend Yield | 1.24% | 1.46% | 1.87% | 1.29% | 2.07% | 1.85% |
| Payout Ratio | 15.48% | 28.05% | 23.04% | 25.07% | 18.77% | 22.84% |
| Buyback Yield / Dilution | 0.07% | -0.04% | 0.18% | 0.12% | -1.68% | -2.01% |
| Total Shareholder Return | 1.31% | 1.42% | 2.05% | 1.40% | 0.40% | -0.16% |