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Andersons, Inc. (ANDE) stock

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NASDAQ: ANDE Nasdaq Agricultural Products & Services Next results ~November 3, 2026

C Fundamentals grade

Andersons, Inc. is a US-listed company in the agricultural products & services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$90

Cash-flow model

Base case. Range ~$61–$130 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 29% below our base value.

Price used: $63.97, November 2, 2026

Andersons, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 4 selling0 purchases and 25 sales by directors and officers, last 12 monthsInsider trades
  • Funds148 adding, 130 cuttingOf 46 active managers that changed their stake, 19 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Andersons files

Where Andersons stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $10.9bn, down 5.2% on a year earlier, a steeper fall than the 2.0% decline a quarter earlier. Free-cash-flow margin held at 0.5%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 4 of our 6 financial-health checks. Our cash-flow model value is $89.83 a share, against a share price of $64.79. At that price, our model says the market is pricing in cash flow shrinking about 1.6% a year for five years, close to the -2.8% a year revenue growth it has delivered.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Andersons, Inc.'s trailing-twelve-month revenue fell 5.2% year on year, with a free-cash-flow margin of 0.5%.

Our discounted-cash-flow model values the business at ~$90 per share in the base case (~$61–$130 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 45% in the quarter to 2026-06-30, the 4th beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $63.97 is 40% below our value per share of $90.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 7.3% over 90 days.

Things to watch

  • Results due soon. Results are expected around 3 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 5.2% over the last 12 months.
  • Growth easing. The growth rate is 3.2 points lower than a quarter earlier.
  • Weak cash conversion. Free cash flow was 32% of net income over the last 12 months.

Latest results: FY2026 Q2

Filed August 4, 2026
Earnings per share
$2.15 against an average estimate of $1.48: beat by 44.9%
Revenue
$3.10bn, down 1.2% on a year earlier
Share reaction
+5.2% in the first session after the results on August 3, 2026, against +3.3% for the S&P 500
Guidance given
full-year adjusted effective tax rate 14% to 18% (full-year)
Next report
November 3, 2026; average EPS estimate $1.11

Andersons' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.5%
  • 1 week-0.9%
  • 1 month-5.5%
  • This year+21.8%
  • 1 year+39.9%
  • 5 years+97.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$10.9B
Net margin
1.6%
EPS (TTM, diluted)
$5.17

Growth

Revenue growth
−5.2%
Change in growth rate
−3.2 pts
Share count change
−0.1%

Cash

Free cash flow (TTM)
$56.9M
FCF margin
0.5%

Earnings

Last results
August 3, 2026
Next results (est.)
November 3, 2026

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Our research
  2. Our research
  3. Our research
  4. Our research
  5. Leadership
  6. Announcement
  7. Dividend
  8. Results
  9. Guidance
  10. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Andersons, Inc. valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 2.0% a year for five years.That is close to the -2.8% a year revenue growth Andersons has delivered.

  • Priced in-2.0%
  • Last 12 months-5.2%
  • 3 years a year-13.3%
  • 5 years a year-2.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($62.83, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$90
Price used
$62.83close November 3, 2026
Implied change
▲ +43%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Andersons, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($230M, FY2026 Q2 TTM), growing 5.4% and 2.2% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$61–~$130 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Andersons, Inc.'s free cash flow after stock-based pay ( $230M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Andersons, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 7.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.54 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$90 ~$61–$130 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$69 ~$54–$92 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$51 ~$33–$80 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$56 ~$45–$72 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$71 ~$51–$90 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Andersons, Inc. with Agricultural Products & Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points higher ▲ more than doubles
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $71$106$152$212$291$392
8.5% $49$74$107$150$206$278
10% $35$54$80$113$155$210

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$25.33$36.43$25.87$25.32$21.98$22.16$35.78$33.00$55.11$39.24$52.51$63.97
Market value$717m$1.0bn$732m$721m$728m$735m$1.2bn$1.1bn$1.9bn$1.3bn$1.8bn$2.2bn
+ Net debt (− = net cash)$417m$411m$460m$700m$1.2bn$1.3bn$918m$760m−$10m$249m$775m$834m
Enterprise value$1.1bn$1.4bn$1.2bn$1.4bn$1.9bn$2.1bn$2.1bn$1.9bn$1.9bn$1.6bn$2.6bn$3.0bn
Multiples
Price / sales 0.2x0.3x0.2x0.2x0.1x0.1x0.1x0.1x0.1x0.1x0.2x0.2x
Price / earnings —89.3x17.2x17.4x39.7x95.4x11.7x8.7x18.7x11.8x18.8x12.4x
Price / free cash flow 8.8x—18.0x—4.0x——6.4x2.4x7.4x—38.5x
EV / EBITDA ————————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

32 /100

Weak moat

How hard Andersons's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 1 / 20

    Net income has been a median 2.4% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 5.8%, moving by 1.7 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Net margin has been a median 0.7%; its worst year was -0.5%.

  • Cash conversion 7 / 20

    Free cash flow was positive in 7 of 10 years, at a median 0.4% of revenue.

  • Discipline 16 / 20

    The diluted share count rose 2.3% over five years; stock-based pay has been a median 0.1% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, after the close. Analysts expect revenue of $2.9bn and EPS of $1.11 (range $1.05 to $1.17) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $6.15 +90% $11.6bn +6%
Next $6.40 +4% $11.9bn +3%

Next year's EPS estimate has moved +7.3% in 90 days, across 3 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +12.4% on 90 days ago. In the last 30 days, 1 analyst raised Andersons, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Andersons, Inc., last 90 days
$5.00 $5.50 $6.00 $6.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $5.47 Current fiscal year, 60 days ago: $6.11 Current fiscal year, 30 days ago: $6.11 Current fiscal year, 7 days ago: $6.11 Current fiscal year, Now: $6.15 $6.15 Next fiscal year, 90 days ago: $5.96 Next fiscal year, 60 days ago: $6.27 Next fiscal year, 30 days ago: $6.27 Next fiscal year, 7 days ago: $6.38 Next fiscal year, Now: $6.40 $6.40

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $5.47$5.96
60 days ago $6.11$6.27
30 days ago $6.11$6.27
7 days ago $6.11$6.38
Now $6.15$6.40

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.48 $2.15 +44.9%
Mar 2026 $0.70 $1.12 +60.0%
Dec 2025 $1.56 $2.04 +31.1%
Sept 2025 $0.46 $0.84 +82.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 3, 2026
  • full-year adjusted effective tax rate full-year 14% to 18% Non-GAAP
    “We anticipate a full-year adjusted effective rate of approximately 14% - 18%.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Andersons, Inc.'s revenue by +5.4% next year and +2.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+7.7%, weight 60%) and the company's own record (+2.0%, weight 40%) . How the weights are set.

Analyst recommendations

3 analysts, Nov 2026
Buy3100%
Hold00%
Sell00%

Monthly trend

  1. Nov 202633
  2. Oct 202633
  3. Sep 202633

Counts of recommendations published by analysts covering Andersons, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.2%
of tradable shares
Days to cover
4.09
at average volume
Short interest, 1 month
+5%
to October 15, 2026
Held by institutions
94%
of shares
Held by insiders
4.0%
of shares
Employees
2,028
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +39.9%

$45.73 on October 31, 2025 to $63.97

ThenNowEffect
Revenue (last 12 months) $11.5bn $10.9bn −5.2%
Net margin 0.7% 1.6% +132.1%
P/E multiple 19.5x 12.4x −36.5%
Share count 34m 34m +0.1%

Biggest factor: net margin.

Last 3 years +27.0%

$50.38 on November 3, 2023 to $63.97

ThenNowEffect
Revenue (last 12 months) $16.8bn $10.9bn −34.9%
Net margin 0.5% 1.6% +216.4%
P/E multiple 20.0x 12.4x −38.2%
Share count 34m 34m −0.3%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ANDE+62%−8%+67%−29%+34%+22%
Industry peers (median)+1%−26%−19%+1%−13%−9%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ANDE67%50%67%33%67%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ANDE−25%−49%−22%−34%−34%−23%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 73% from December 30, 2016 to May 19, 2020. Getting back needed a 267% gain, reached on January 4, 2022, 595 days after the low.

Price behaviour

52-week range
$45.83 – $80.62
From 52-week high
−20.7%
vs 50-day average
−4.2%
vs 200-day average
−7.2%
Volatility (1 year)
35%
Beta vs S&P 500
-0.11

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±7.7%
After a week
5 up, 7 down
typical move ±6.1%
After a month
7 up, 5 down
typical move ±6.6%
Results releasedNext dayS&P 500 next day5 days21 days
August 3, 2026 +5.2% +3.3% −7.5% −5.0%
May 5, 2026 −14.1% +2.2% −11.3% −8.1%
February 17, 2026 −6.4% +0.7% −6.4% +0.6%
November 4, 2025 +3.8% −0.8% +10.2% +8.5%
August 4, 2025 −0.2% +1.0% +10.3% +17.1%
May 6, 2025 −14.8% −0.4% −1.7% −7.5%
February 18, 2025 +17.9% +0.5% +8.8% +8.0%
November 4, 2024 −4.0% +1.0% +7.3% +3.9%
August 6, 2024 −0.3% +0.2% +1.3% +3.7%
May 7, 2024 −9.0% +0.1% −7.3% −10.6%
February 20, 2024 +3.7% −0.5% −0.1% +3.2%
November 7, 2023 −13.5% +0.4% −1.4% −2.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Andersons, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Andersons, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Andersons, Inc.
$10B $12B $14B $16B $18B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $16.2B Revenue (TTM), FY23 Q4: $14.8B Revenue (TTM), FY24 Q1: $13.6B Revenue (TTM), FY24 Q2: $12.4B Revenue (TTM), FY24 Q3: $11.3B Revenue (TTM), FY24 Q4: $11.3B Revenue (TTM), FY25 Q1: $11.2B Revenue (TTM), FY25 Q2: $11.5B Revenue (TTM), FY25 Q3: $11.6B Revenue (TTM), FY25 Q4: $11B Revenue (TTM), FY26 Q1: $11B Revenue (TTM), FY26 Q2: $10.9B $10.9B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $16.2B
FY23 Q4 $14.8B
FY24 Q1 $13.6B
FY24 Q2 $12.4B
FY24 Q3 $11.3B
FY24 Q4 $11.3B
FY25 Q1 $11.2B
FY25 Q2 $11.5B
FY25 Q3 $11.6B
FY25 Q4 $11B
FY26 Q1 $11B
FY26 Q2 $10.9B
Revenue growth, TTM YoY Andersons, Inc.
-40% -30% -20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -1.3% Revenue growth, TTM YoY, FY23 Q4: -14.9% Revenue growth, TTM YoY, FY24 Q1: -21.1% Revenue growth, TTM YoY, FY24 Q2: -26.4% Revenue growth, TTM YoY, FY24 Q3: -30.0% Revenue growth, TTM YoY, FY24 Q4: -23.7% Revenue growth, TTM YoY, FY25 Q1: -17.6% Revenue growth, TTM YoY, FY25 Q2: -6.7% Revenue growth, TTM YoY, FY25 Q3: 2.2% Revenue growth, TTM YoY, FY25 Q4: -2.2% Revenue growth, TTM YoY, FY26 Q1: -2.0% Revenue growth, TTM YoY, FY26 Q2: -5.2% -5.2%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -1.3%
FY23 Q4 -14.9%
FY24 Q1 -21.1%
FY24 Q2 -26.4%
FY24 Q3 -30.0%
FY24 Q4 -23.7%
FY25 Q1 -17.6%
FY25 Q2 -6.7%
FY25 Q3 2.2%
FY25 Q4 -2.2%
FY26 Q1 -2.0%
FY26 Q2 -5.2%
FCF margin (TTM) Andersons, Inc.
-2% 0% 2% 4% 6% 8% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 6.1% FCF margin (TTM), FY23 Q4: 5.4% FCF margin (TTM), FY24 Q1: 6.5% FCF margin (TTM), FY24 Q2: 5.4% FCF margin (TTM), FY24 Q3: 1.6% FCF margin (TTM), FY24 Q4: 1.6% FCF margin (TTM), FY25 Q1: 0.5% FCF margin (TTM), FY25 Q2: 0.2% FCF margin (TTM), FY25 Q3: 2.0% FCF margin (TTM), FY25 Q4: -0.5% FCF margin (TTM), FY26 Q1: -1.0% FCF margin (TTM), FY26 Q2: 0.5% 0.5%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 6.1%
FY23 Q4 5.4%
FY24 Q1 6.5%
FY24 Q2 5.4%
FY24 Q3 1.6%
FY24 Q4 1.6%
FY25 Q1 0.5%
FY25 Q2 0.2%
FY25 Q3 2.0%
FY25 Q4 -0.5%
FY26 Q1 -1.0%
FY26 Q2 0.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 3.0 3.4 4.6 5.3 5.6 4.5 4.2 3.9 3.7 3.0 8.0 8.1 12.6 17.3 14.8 11.3 11.0 10.9
Gross profit 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.3 0.3 0.3 0.5 0.4 0.6 0.7 0.7 0.7 0.7 0.8
Net income 0.0 0.1 0.1 0.1 0.1 0.1 −0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.2
Diluted EPS $1.39 $2.32 $3.39 $2.82 $3.18 $3.84 −$0.46 $0.41 $1.50 $1.46 $0.55 $0.23 $3.07 $3.81 $2.94 $3.32 — $5.17
Growth (year on year)
Revenue −13.3% +12.2% +34.8% +15.2% +6.3% −19.0% −7.5% −6.5% −6.1% −17.4% +162.8% +0.8% +56.4% +37.4% −14.9% −23.7% −2.2% −5.2%
Net income — — — −16.4% — — −111.9% — — — — — — — — — — —
Diluted EPS — — — −16.8% — — −112.0% — — — — — — — — — — —
Margins
Gross margin 8.4% 8.3% 7.7% 6.8% 6.5% 8.7% 9.0% 8.8% 8.6% 9.9% 5.8% 4.5% 4.7% 3.9% 5.1% 6.2% 6.5% 7.2%
Net margin 1.3% 1.9% 2.1% 1.5% 1.6% 2.4% −0.3% 0.3% 1.2% 1.4% 0.2% 0.1% 0.8% 0.8% 0.7% 1.0% 0.9% 1.6%
Free-cash-flow margin 5.4% −8.0% 5.4% 4.9% 5.2% −1.5% 1.9% −1.0% 1.1% −5.8% 2.3% −1.9% −1.0% 1.0% 5.4% 1.6% −0.5% 0.5%
Cash flow
Cash from operations 0.2 −0.2 0.3 0.3 0.3 −0.0 0.2 0.0 0.1 −0.0 0.3 −0.1 −0.1 0.3 0.9 0.3 0.2 0.3
Capital spending 0.0 0.0 0.0 0.1 0.0 0.1 0.1 0.1 0.0 0.1 0.2 0.1 0.1 0.1 0.2 0.1 0.2 0.3
Free cash flow 0.2 −0.3 0.2 0.3 0.3 −0.1 0.1 −0.0 0.0 −0.2 0.2 −0.2 −0.1 0.2 0.8 0.2 −0.1 0.1
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 —
Free cash flow after stock pay 0.2 −0.3 0.2 0.3 0.3 −0.1 0.1 −0.0 0.0 −0.2 0.2 −0.2 −0.1 0.2 0.8 0.2 −0.1 —
Balance sheet
Cash 0.1 0.0 0.0 0.1 0.3 0.1 0.1 0.1 0.0 0.0 0.1 0.0 0.2 0.1 0.6 0.6 0.1 0.1
Total debt 0.3 0.5 0.3 0.5 0.4 0.4 0.5 0.5 0.5 0.7 1.2 1.4 1.1 0.9 0.6 0.8 0.9 0.9
Net debt (negative = net cash) 0.2 0.5 0.3 0.3 0.1 0.3 0.4 0.4 0.5 0.7 1.2 1.3 0.9 0.8 −0.0 0.2 0.8 0.8
Diluted shares 28m 28m 28m 28m 28m 28m 28m 28m 28m 28m 33m 33m 34m 34m 34m 34m 34m 34m
Returned to shareholders
Dividends 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Buybacks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 — — 0.0 0.0 0.0 0.0 0.0 0.0 —
Total returned 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 6 checks passed · June 30, 2026
What it owns · $3.5bn
Short-term assets $2.1bnLonger-term assets $1.4bn
What it owes, and who funded it · $3.4bn
Short-term liabilities $1.4bnLonger-term liabilities $738mShareholders' equity $1.3bn
  • Short-term assets cover short-term liabilities $2.1bn of assets due within a year against $1.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.1bn short-term assets against $738m of longer-dated liabilities.
  • More cash than debt $67m of cash against $586m of debt.
  • Debt below 40% of shareholders' equity Debt is 44% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 56% to 44% over five years.
  • A year's operating cash flow covers at least 20% of debt $322m of operating cash flow against $586m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Andersons, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$27.1M
Buybacks, last 3 fiscal years
$19.4M
Diluted share count
−0.1%
year over year
Total shareholder yield
1.2%
dividends 1.2% + buybacks 0.0% of market value
Dividend payout ratio
15%
of net income paid out

Competitors: side by side with peers

Closest by revenue in agricultural products & services
Last 12 months unless stated ANDE INGR DAR CHSCL ADM AGRO Median
Revenue, last 12 months $10.9bn $7.2bn $6.5bn $37.4bn $82.1bn $1.4bn $149m
Revenue growth, last 12 months −5.2% −1.4% 14.9% 3.8% −0.8% −6.0% −1.1%
Revenue growth, 3-year average −13.3% −4.2% −2.5% −8.9% −6.3% — −0.1%
Revenue growth, latest quarter −1.2% 0.9% 16.4% 18.6% 7.2% — 6.8%
Gross margin 7.2% 23.7% 26.3% 3.1% 6.9% 24.6% 17.6%
Operating margin — 11.9% 14.5% 0.1% — 6.6% −5.9%
Operating margin, 3-year average — 12.2% 9.9% 0.7% — 15.1% 2.8%
Net margin 1.6% 8.2% 9.1% 1.5% 2.2% −0.6% −0.2%
Cash from operations / revenue 2.9% 11.2% 20.6% 3.9% 3.4% 21.6% 3.2%
Free-cash-flow margin 0.5% 4.9% 12.6% 2.5% 2.0% 3.0% 2.3%
Free-cash-flow margin, 3-year average 2.1% 9.7% 8.2% 1.2% 3.5% 6.7% 3.0%
Stock pay / revenue 0.1% 0.5% 0.6% — 0.2% 0.8% 0.7%
Change in share count −0.1% −2.5% 0.5% — 0.3% −0.6% 2.3%

Median of all 20 companies we cover in agricultural products & services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

20 agricultural products & services companies
Measure Company Peer median Rank
Revenue growth Growth -5.2% -0.8% 13 of 20
Change in growth rate Growth -3.2pp -0.5pp 14 of 20
Gross margin Profitability 7.2% 11.4% 14 of 19
Net margin Profitability 1.6% 0.1% 7 of 20
Free-cash-flow margin Cash generation 0.5% 2.5% 12 of 20
Long-term debt as % of assets Balance sheet 16.2% 16.2% 10 of 18
Change in share count Balance sheet -0.1% 2.4% 5 of 17

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Specialty and Primary Nutrients $815M ▲ 16.7%
Premium Ingredients $263M ▼ 22.1%
Propane and Fuels $242M ▲ 15.2%
Segment Reporting Reconciling Item Other $210M ▲ 34.4%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
United States $8.4B 76.6% ▲ 4.0%
Other Countries $1.7B 15.7% ▼ 23.1%
Canada $519M 4.7% ▲ 0.3%
Mexico $334M 3.0% ▼ 14.8%

From Andersons, Inc.'s 10-K filed February 18, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.1B
Institutions reporting
299
Shares held vs prior quarter
▲ 0.2%
Positions opened / closed
45 / 35

Top buyers and sellers, Q2 2026: 148 institutions bought and 130 sold ; the biggest buyer was Blackrock, Inc (+675K shares) and the biggest seller Ophir Asset Management Pty Ltd (−370K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $428M 6.3M 20.5% ▲ 12.1%
Vanguard Portfolio Management LLC $167M 2.4M 8.0% ▲ 1.3%
Dimensional Fund Advisors LP $161M 2.4M 7.7% ▲ 0.2%
Invesco Ltd. $112M 1.6M 5.4% ▲ 34.0%
State Street Corp $99.4M 1.5M 4.8% ▲ 8.1%
Vanguard Capital Management LLC $99.1M 1.4M 4.8% ▲ 0.7%
Rubric Capital Management LP $68.4M 1000K 3.3% ▲ 16.8%
Geode Capital Management, LLC $68.3M 998K 3.3% ▲ 18.8%
Jupiter Topco LLC $54.6M 798K 2.6% —
Jpmorgan Chase & Co $38.6M 559K 1.9% ▲ 21.0%
American Century Companies Inc $36.6M 536K 1.8% ▼ 29.3%
Northern Trust Corp $36M 527K 1.7% ▼ 1.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Andersons, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $9.9M 25 trades by 4 insiders · 86% under pre-set plans
Net ▼ $9.9M net selling
Insider Date Trade Shares Price Value
Bowe Patrick E. Director July 22, 2026 Sell pre-set plan 3,534 $80.53 $284,593
Rex Anne G VP, Strategy, Planning and Dev June 4, 2026 Sell pre-set plan 1,827 $73.10 $133,554
Bowe Patrick E. Director May 5, 2026 Sell pre-set plan 16,466 $80.76 $1.3M
Bowe Patrick E. Director April 30, 2026 Sell pre-set plan 19,100 $78.31 $1.5M
Bowe Patrick E. Director April 29, 2026 Sell pre-set plan 900 $78.06 $70,254
Bowe Patrick E. Director April 23, 2026 Sell pre-set plan 2,407 $76.67 $184,545
Bowe Patrick E. Director April 22, 2026 Sell pre-set plan 12,093 $76.11 $920,398
Bowe Patrick E. Director April 21, 2026 Sell pre-set plan 500 $76.01 $38,005
Bowe Patrick E. Director April 6, 2026 Sell pre-set plan 15,000 $74.33 $1.1M
Bowe Patrick E. Director March 25, 2026 Sell pre-set plan 14,200 $72.78 $1M
Bowe Patrick E. Director March 24, 2026 Sell pre-set plan 800 $72.09 $57,672
Stout John T Jr Director March 17, 2026 Sell 2,500 $70.30 $175,750

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

No trades in Andersons, Inc. disclosed in the last 12 months; 2 earlier trades on record.

  • Marcy Kaptur(D-OH 9):Sale (full), $1,280.03, traded October 21, 2022, filed May 15, 2023
  • Gary J. Palmer(R-AL 6):Purchase, $1,001 - $15,000, traded April 4, 2017, filed September 29, 2018

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 3, 2026 estimated from the company's past filing pattern, not announced

  • August 3, 2026
  • May 5, 2026
  • February 17, 2026
  • November 4, 2025
  • August 4, 2025
  • May 6, 2025

Recent SEC filings

Data status

When each part of this page on Andersons, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Andersons, Inc. in brief

What does Andersons, Inc. do?
Andersons, Inc. is a US-listed company in the agricultural products & services industry. Its financial year ends in December.
What is Andersons, Inc.'s stock ticker?
Andersons, Inc. trades under the ticker ANDE on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Andersons, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Andersons, Inc. reported revenue of $10.9B, 5.2% lower than a year earlier, according to its SEC filings.
What is Andersons, Inc.'s free cash flow?
Andersons, Inc.'s free-cash-flow margin is 0.5% of revenue over the trailing twelve months, ranking 12 of the 20 agricultural products & services companies we cover.
What is Andersons, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Andersons, Inc.'s free cash flow after stock-based pay gives ~$90 per share in the base case, and ~$61–$130 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Andersons, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Dimensional Fund Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Andersons, Inc.'s market cap?
On November 2, 2026, Andersons, Inc.'s market capitalisation was about $2.2B, with a price-to-earnings ratio of 12.4 and net debt of $834M. Market figures come from third-party market data and may be delayed.
Does Andersons, Inc. pay a dividend?
Yes: Andersons, Inc. paid $27.1M in dividends over the trailing twelve months, a dividend yield of 1.24% and a payout ratio of 15.3%.
How much debt does Andersons, Inc. have?
Andersons, Inc.'s debt-to-equity ratio is 44.5%, from its latest balance sheet (56.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Andersons, Inc.'s competitors?
In our Agricultural Products & Services peer group, the companies closest to Andersons, Inc. are Ingredion Inc, Darling Ingredients Inc., CHS Inc, Archer Daniels Midland and Adecoagro S.a. The side-by-side comparison below sets their revenue, margins and growth against Andersons, Inc.'s.
Are insiders buying or selling Andersons, Inc. stock?
Over the last 12 months, Andersons, Inc.'s directors and officers reported 0 open-market purchases and 25 sales on Form 4. The insider trading page charts every trade.
When is Andersons, Inc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Andersons, Inc. announces its own schedule.