ANDE

MKT CAP:$3B

The Andersons, Inc.

Market Cap

$3B

Consumer Defensive·Food Distribution·🇺🇸 United States·NASDAQ

Consumer Def.·Food Distribution·🇺🇸·NASDAQ

Stock Price

$75.70+$22.65 (+42.70%)

Apr 21, 2026

Company Details

The Andersons, Inc., an agriculture company, operates in trade, renewables, and plant nutrient sectors in the United States and internationally. The company's Trade segment operates grain elevators; stores commodities; and provides grain ma...

CEO

William E. Krueger

IPO Date

Feb 20, 1996

Website

andersonsinc.com

Key Metrics TTM

Revenue

$10.7B

+66.4% YoY

Net Income

$129M

EPS (Diluted)

$3.77

Free Cash Flow

$99M

Revenue / Share

$313.81

Gross Margin

6.4%

Operating Margin

1.2%

Net Margin

1.2%

FCF Margin

0.9%

P/S

0.2x

P/E

20.0x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Feb 18, 2026

$11.0BEPS $2.80

Q4 2025

Feb 18, 2026

$2.5BEPS $1.97

Q3 2025

Nov 5, 2025

$2.7BEPS $0.59

Q2 2024

Aug 7, 2024

$2.8BEPS $1.05

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 17	$994M	$130M	$63M
Q4 17	$1.0B	$64M	-$4M
Q4 18	$813M	$59M	-$5M
Q3 23	$3.6B	$185M	$58M
Q1 24	$2.7B	$109M	-$10M
Q2 24	$2.8B	$182M	$65M
Q3 25	$2.7B	$169M	-$4M
Q4 25	$2.5B	$231M	$81M

Valuation

Quarter	P/S	P/E
Q2 17	—	—
Q4 17	—	—
Q4 18	—	—
Q3 23	0.4x	33.7x
Q1 24	0.3x	23.7x
Q2 24	0.3x	34.4x
Q3 25	0.2x	36.1x
Q4 25	0.2x	20.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 17	$184M	$132M
Q4 17	$15M	-$59M
Q4 18	-$64M	-$179M
Q3 23	$489M	$455M
Q1 24	-$240M	-$266M
Q2 24	$304M	$276M
Q3 25	$234M	$167M
Q4 25	-$6M	-$77M

Capital Expenditures

Quarter	CapEx
Q2 17	$52M
Q4 17	$73M
Q4 18	$115M
Q3 23	$34M
Q1 24	$27M
Q2 24	$29M
Q3 25	$67M
Q4 25	$71M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 24	+173.6%	+193.3%
Q2 24	+178.4%	+170.9%
Q3 25	+229.5%	+227.8%
Q4 25	-30.2%	-31.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 17	$2M	0.2%
Q4 17	$2M	0.2%
Q4 18	$2M	0.2%
Q3 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q2 17	—	—	$66M
Q4 17	—	$3M	—
Q4 18	—	—	$65M
Q3 23	—	—	$126M
Q1 24	—	—	$119M
Q2 24	—	—	$117M
Q3 25	—	—	$173M
Q4 25	$150M	—	—

Revenue Segments

Quarter	Plant Nutrient	Renewables	Trade	Agribusiness Segment
Q3 23	$129M	$868M	$2.6B	—
Q1 24	$167M	$657M	$1.9B	—
Q2 24	$351M	$686M	$1.8B	—
Q3 25	—	$689M	—	$2.0B
Q4 25	—	$673M	—	$1.9B

Revenue by Geography

Quarter	Canada	Mexico	Other Countries	United States
Q3 25	$118M	$105M	$530M	$1.9B
Q4 25	$132M	$71M	$389M	$1.9B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$36M	$0	$36M
Q2 22	$86M	$0	$86M
Q3 22	$141M	$0	$141M
Q4 22	$115M	$0	$115M
Q1 23	$71M	$0	$71M
Q2 23	$96M	$0	$96M
Q3 23	$418M	$0	$418M
Q4 23	$644M	$0	$644M
Q1 24	$284M	$0	$284M
Q2 24	$530M	$0	$530M
Q3 24	$454M	$0	$454M
Q4 24	$562M	$0	$562M
Q1 25	$219M	$0	$219M
Q2 25	$351M	$0	$351M
Q3 25	$87M	$0	$87M
Q4 25	$98M	$0	$98M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 17	28M	—	—
Q4 17	28M	-0.3%	—
Q4 18	28M	+0.0%	—
Q3 23	34M	+21.2%	—
Q1 24	35M	+1.8%	+23.0%
Q2 24	34M	-1.8%	+21.2%
Q3 25	34M	-0.2%	+20.9%
Q4 25	34M	0.0%	-0.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 17	$456.6K	2K
Q4 17	$559.4K	2K
Q4 18	$451.0K	2K
Q3 23	$2M	2K
Q1 24	$1M	2K
Q2 24	$1M	2K
Q3 25	$1M	2K
Q4 25	$1M	2K

Revenue / Employee