IMKTA

MKT CAP:$2B

Ingles Markets, Incorporated

Market Cap

$2B

Consumer Defensive·Grocery Stores·🇺🇸 United States·NASDAQ

Consumer Def.·Grocery Stores·🇺🇸·NASDAQ

Stock Price

$90.50+$20.83 (+29.90%)

Apr 22, 2026

Company Details

Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. It offers food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, which in...

CEO

James W. Lanning

IPO Date

Sep 22, 1987

Website

www.ingles-markets.com

Key Metrics TTM

Revenue

$5.4B

-0.5% YoY

Net Income

$95M

EPS (Diluted)

$5.01

Free Cash Flow

$123M

Revenue / Share

$285.29

Gross Margin

24.1%

Operating Margin

2.5%

Net Margin

1.8%

FCF Margin

2.3%

P/S

0.3x

P/E

18.0x

Earnings Reports

Q2 2026

May 7, 2026

PENDING

Q1 2026

Feb 5, 2026

$1.4B+6.6%EPS $1.48

FY 2025

Nov 26, 2025

$5.3B-5.4%EPS $4.40

Q4 2025

Nov 26, 2025

$1.4B-2.1%EPS $1.35

Q3 2025

Aug 7, 2025

$1.3B-3.4%EPS $1.38

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$1.4B	$349M	$95M
Q3 22	$1.5B	$352M	$95M
Q4 22	$1.5B	$365M	$97M
Q1 23	$1.5B	$371M	$96M
Q2 23	$1.4B	$326M	$58M
Q3 23	$1.4B	$338M	$67M
Q4 23	$1.6B	$370M	$72M
Q1 24	$1.5B	$349M	$60M
Q2 24	$1.4B	$322M	$45M
Q3 24	$1.4B	$330M	$44M
Q4 24	$1.4B	$299M	-$1M
Q1 25	$1.3B	$301M	$24M
Q2 25	$1.3B	$311M	$22M
Q3 25	$1.3B	$327M	$37M
Q4 25	$1.4B	$335M	$35M
Q1 26	$1.4B	$335M	$39M

Valuation

Quarter	P/S	P/E
Q2 22	0.3x	6.2x
Q3 22	0.3x	6.3x
Q4 22	0.3x	6.3x
Q1 23	0.3x	6.2x
Q2 23	0.3x	6.9x
Q3 23	0.3x	7.5x
Q4 23	0.3x	8.1x
Q1 24	0.3x	9.3x
Q2 24	0.3x	9.7x
Q3 24	0.3x	10.7x
Q4 24	0.3x	16.3x
Q1 25	0.3x	21.8x
Q2 25	0.3x	27.7x
Q3 25	0.3x	30.4x
Q4 25	0.3x	20.5x
Q1 26	0.3x	18.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	$61M	$48M
Q3 22	$106M	$67M
Q4 22	$78M	$31M
Q1 23	$57M	-$2M
Q2 23	$37M	$5M
Q3 23	$83M	$37M
Q4 23	$89M	$53M
Q1 24	$16M	-$48M
Q2 24	$70M	$35M
Q3 24	$103M	$59M
Q4 24	$73M	$5M
Q1 25	-$44M	-$81M
Q2 25	$63M	$39M
Q3 25	$75M	$45M
Q4 25	$60M	$37M
Q1 26	$38M	$2M

Capital Expenditures

Quarter	CapEx
Q2 22	$13M
Q3 22	$39M
Q4 22	$46M
Q1 23	$59M
Q2 23	$32M
Q3 23	$46M
Q4 23	$36M
Q1 24	$63M
Q2 24	$35M
Q3 24	$45M
Q4 24	$68M
Q1 25	$38M
Q2 25	$24M
Q3 25	$29M
Q4 25	$23M
Q1 26	$36M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+16.3%	+15.5%
Q3 22	+14.1%	+15.9%
Q4 22	+8.7%	+9.6%
Q1 23	+7.3%	+7.4%
Q2 23	+0.3%	+3.2%
Q3 23	-1.7%	+0.2%
Q4 23	+9.2%	+11.7%
Q1 24	-0.8%	+1.7%
Q2 24	-1.0%	-0.0%
Q3 24	-2.8%	-1.3%
Q4 24	-11.8%	-7.6%
Q1 25	-13.0%	-11.0%
Q2 25	-2.6%	-1.0%
Q3 25	-3.4%	-3.0%
Q4 25	-2.1%	-4.7%
Q1 26	+6.6%	+5.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%
Q1 26	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q2 22	$255M
Q3 22	$257M
Q4 22	$268M
Q1 23	$276M
Q2 23	$269M
Q1 24	$290M

Revenue Segments

Quarter	Gasoline	Grocery	Non Foods	Other Segment	Perishables
Q2 22	$200M	$482M	$289M	$50M	$356M
Q3 22	$266M	$473M	$304M	$55M	$361M
Q1 23	$192M	$541M	$327M	$58M	$374M
Q2 23	$176M	$493M	$309M	$56M	$348M
Q3 23	$196M	$490M	$329M	$56M	$362M
Q4 23	$228M	$539M	$362M	$59M	$398M
Q1 24	$178M	$522M	$358M	$55M	$368M
Q2 24	$170M	$490M	$306M	$52M	$349M
Q3 24	$195M	$478M	$304M	$55M	$362M
Q4 24	$182M	$493M	$306M	$56M	$362M
Q1 25	$144M	$478M	$289M	$43M	$334M
Q2 25	$151M	$492M	$286M	$54M	$348M
Q3 25	$162M	$478M	$295M	$53M	$358M
Q4 25	$165M	$487M	$297M	—	$365M
Q1 26	$152M	$502M	$305M	—	$360M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$66M	$115M	$181M
Q3 22	$126M	$115M	$241M
Q4 22	$267M	$0	$267M
Q1 23	$256M	$0	$256M
Q2 23	$250M	$0	$250M
Q3 23	$281M	$0	$281M
Q4 23	$329M	$0	$329M
Q1 24	$275M	$0	$275M
Q2 24	$302M	$0	$302M
Q3 24	$355M	$0	$355M
Q4 24	$354M	$0	$354M
Q1 25	$270M	$0	$270M
Q2 25	$297M	$0	$297M
Q3 25	$336M	$0	$336M
Q4 25	$366M	$0	$366M
Q1 26	$362M	$0	$362M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	19M	-0.1%	-6.0%
Q3 22	19M	0.0%	0.0%
Q4 22	19M	-2.2%	-2.1%
Q1 23	19M	+2.3%	-0.1%
Q2 23	19M	+0.1%	+0.2%
Q3 23	19M	-0.2%	0.0%
Q4 23	19M	-2.2%	+0.1%
Q1 24	19M	+2.2%	-0.1%
Q2 24	19M	0.0%	-0.2%
Q3 24	19M	0.0%	0.0%
Q4 24	18M	-3.1%	-0.9%
Q1 25	19M	+3.2%	0.0%
Q2 25	19M	0.0%	0.0%
Q3 25	19M	0.0%	0.0%
Q4 25	19M	+0.2%	+3.4%
Q1 26	19M	-0.2%	0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$53.0K	26K
Q3 22	$56.1K	26K
Q4 22	$55.8K	26K
Q1 23	$57.4K	26K
Q2 23	$53.1K	26K
Q3 23	$55.1K	26K
Q4 23	$60.0K	26K
Q1 24	$56.1K	26K
Q2 24	$51.8K	26K
Q3 24	$52.7K	26K
Q4 24	$53.0K	26K
Q1 25	$48.9K	26K
Q2 25	$50.5K	26K
Q3 25	$51.1K	26K
Q4 25	$53.6K	26K
Q1 26	$53.7K	26K

Revenue / Employee