Andersons, Inc. ANDE

Industrials SIC 5150 - Wholesale-Farm Product Raw Materials NAICS Wholesale Trade › Merchant Wholesalers, Nondurable Goods › Farm Product Raw Material Merchant Wholesalers derived Nasdaq

The Andersons, Inc. (the "Company") is a leading, nimble North American agriculture and renewable fuels company. Founded in Maumee, Ohio in 1947, the Company is a significant player in the North American agricultural and renewable fuels supply chains.

The Company's operations are classified into two reportable business segments: Agribusiness and Renewables. Both of these segments are organized based upon the nature of products and services offered and aligns with the management structure. See Note 10 to the Consolidated Financial Statements in Item 8 for information regarding business segments.

The Agribusiness segment is a diversified business focusing on capturing profits through relationships with agricultural producers and end users as both a supplier and customer. This includes merchandising and managing logistics across a wide range of commodities as well as being a manufacturer, distributor, and retailer of agricultural and related plant nutrients. The segment specializes in the movement of physical commodities such as: whole grains, grain products, feed ingredients and domestic fuel products among other agricultural commodities. The Company has a broad geographic footprint with a diversified portfolio of physical commodities, although the principal commodities sold by the Company are corn, wheat and soybeans. Exported commodity sales are made both through intermediaries and direct shipments to foreign countries.

Last close 69.31 2026-09-04
Market cap $2.35B 2026-06-30 share count
52-week range 37.69 - 82.11

Valuation FY2025 figures against the last close

P/S1.5x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield1.1%
Diluted EPS—

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Specialty and primary nutrients
  • Premium ingredients
  • Propane and fuels
  • Other
Revenue by segment, 4 categories over 3 years. The same figures are in the table below. FY2025 Specialty and primary nutrients, FY2025: 815.5M (53.3%) 53% Specialty and primary nutrients Premium ingredients, FY2025: 263.1M (17.2%) 17% Premium ingredients Propane and fuels, FY2025: 242.1M (15.8%) 16% Propane and fuels Other, FY2025: 210.4M (13.7%) 14% Other FY2024 Specialty and primary nutrients, FY2024: 699M (49.8%) 50% Premium ingredients, FY2024: 337.6M (24.1%) 24% Propane and fuels, FY2024: 210.2M (15.0%) 15% Other, FY2024: 156.5M (11.2%) 11% FY2023 Specialty and primary nutrients, FY2023: 822.3M (50.4%) 50% Premium ingredients, FY2023: 434.3M (26.6%) 27% Propane and fuels, FY2023: 190.2M (11.7%) 12% Other, FY2023: 185.4M (11.4%) 11%
Segment FY2025FY2024FY2023
Specialty and primary nutrients $815.5M $699.0M $822.3M
Premium ingredients $263.1M $337.6M $434.3M
Propane and fuels $242.1M $210.2M $190.2M
Other $210.4M $156.5M $185.4M

As the company reported it, from the “Revenue (Disaggregation of Revenues) (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.53B$1.40B$1.63B$17.33B$2.21B$1.48B$1.34B$898.9M$3.69B$3.92B
Cost of revenue $10.30B$10.56B$14.00B$16.64B$12.02B$7.70B$7.54B$2.74B$3.37B$3.58B
Gross profit $713.7M$693.9M$745.4M$684.2M$592.7M$366.2M$460.8M$302.0M$318.8M$345.5M
Total operating expenses ——————$436.8M$257.9M$287.0M$316.1M
Interest expense $47.2M$31.8M$46.9M$56.8M$37.3M$33.8M$43.2M$27.8M$21.6M$21.1M
Pre-tax income $141.5M$200.8M$169.6M$194.6M$160.8M-$27.1M$13.0M$53.2M-$20.5M$21.4M
Income tax $22.2M$30.1M$37.0M$39.6M$29.2M$10.9M$9.1M$11.9M$63.1M$6.9M
Net income $95.7M$114.0M$101.2M$131.1M$104.0M$7.7M$18.3M$41.5M$42.5M$11.6M
EPS, basic —3.353.003.893.120.230.561.471.510.41
EPS, diluted —3.322.943.813.070.230.551.461.500.41
Shares, diluted (wtd. avg.) 34.3M34.3M34.4M34.4M33.9M33.2M33.1M28.5M28.3M28.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $98.3M$561.8M$643.9M$115.3M$216.4M$29.1M$54.9M$22.6M$34.9M$62.6M
Inventory $1.37B$1.29B$1.17B$1.73B$1.81B$1.29B$1.17B$690.8M$648.7M$682.7M
Total current assets $2.38B$2.85B$2.81B$3.47B$3.37B$2.42B$1.95B$1.02B$999.2M$1.06B
Property, plant and equipment $939.5M$868.2M$693.4M$762.7M$786.0M$860.3M$938.4M$476.7M$384.7M$450.1M
Goodwill $127.9M$127.9M$127.9M$129.3M$129.3M$131.5M$131.2M$1.9M$6.0M$63.9M
Other intangibles $63.5M$69.3M$85.6M$100.9M$117.1M$140.1M$175.3M$99.1M$112.9M$106.1M
Total assets $3.71B$4.12B$3.86B$4.61B$4.57B$4.27B$3.90B$2.39B$2.16B$2.23B
Short-term debt $63.4M$36.1M$27.6M$110.2M$32.3M$69.4M$62.9M$21.6M$54.2M$47.5M
Total current liabilities $1.69B$1.73B$1.64B$2.52B$2.46B$1.93B$1.44B$833.4M$738.7M$799.8M
Long-term debt $560.0M$608.2M$563.0M$492.5M$600.5M$886.5M$1.02B$496.2M$418.3M$397.1M
Total liabilities $2.42B$2.52B$2.34B$3.18B$3.26B$3.11B$2.71B$1.52B$1.34B$1.44B
Retained earnings $1.04B$970.7M$882.9M$807.8M$702.8M$626.1M$642.7M$647.5M$633.5M$609.2M
Total equity $1.24B$1.37B$1.52B$1.43B$1.31B$1.16B$1.20B$876.8M$822.9M$790.7M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $177.0M$331.5M$946.8M$287.1M-$51.0M-$74.4M$348.6M-$35.5M$75.3M$39.6M
Depreciation and amortisation $133.3M$127.8M$125.1M$134.7M$178.9M$188.6M$146.2M$90.3M$86.4M$84.3M
Stock-based compensation $17.0M$13.6M$12.9M$11.2M$11.0M$10.2M$16.2M$6.6M$6.1M$7.0M
Capital expenditure $233.1M$149.2M$150.4M$108.3M$75.8M$77.1M$165.2M$142.6M$34.6M$77.7M
Investing cash flow -$195.3M-$163.1M-$153.9M-$52.9M$487.2M-$86.8M-$325.0M-$186.0M-$113.5M-$28.2M
Financing cash flow -$447.1M-$250.4M-$264.0M-$334.7M-$248.8M$136.3M$8.7M$209.2M$10.5M-$12.5M
Dividends paid $26.8M$26.3M$25.4M$24.6M$23.7M$23.0M$22.1M$18.6M$18.2M$17.4M
Buybacks $15.4M$2.3M$1.7M$12.7M$0$0——$0$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000821026-26-000010.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 5B 10B 15B 20B Revenue, FY2016: 3.9B Gross profit, FY2016: 345.5M Net income, FY2016: 11.6M Revenue, FY2017: 3.7B Gross profit, FY2017: 318.8M Net income, FY2017: 42.5M Revenue, FY2018: 898.9M Gross profit, FY2018: 302M Net income, FY2018: 41.5M Revenue, FY2019: 1.3B Gross profit, FY2019: 460.8M Net income, FY2019: 18.3M Revenue, FY2020: 1.5B Gross profit, FY2020: 366.2M Net income, FY2020: 7.7M Revenue, FY2021: 2.2B Gross profit, FY2021: 592.7M Net income, FY2021: 104M Revenue, FY2022: 17.3B Gross profit, FY2022: 684.2M Net income, FY2022: 131.1M Revenue, FY2023: 1.6B Gross profit, FY2023: 745.4M Net income, FY2023: 101.2M Revenue, FY2024: 1.4B Gross profit, FY2024: 693.9M Net income, FY2024: 114M Revenue, FY2025: 1.5B Gross profit, FY2025: 713.7M Net income, FY2025: 95.7M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $3.92B $3.69B $898.9M $1.34B $1.48B $2.21B $17.33B $1.63B $1.40B $1.53B
Gross profit $345.5M $318.8M $302.0M $460.8M $366.2M $592.7M $684.2M $745.4M $693.9M $713.7M
Net income $11.6M $42.5M $41.5M $18.3M $7.7M $104.0M $131.1M $101.2M $114.0M $95.7M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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