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Andersons (ANDE) Financials

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$71.35 +0.50 (+0.71%)
As of 04:00 PM Eastern
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Annual Income Statements for Andersons

Annual Income Statements for Andersons

This table shows Andersons' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -13 12 43 41 18 7.71 104 131 101 114 96
Consolidated Net Income / (Loss)		 -11 14 43 41 15 -14 136 167 133 171 119
Net Income / (Loss) Continuing Operations		 -11 14 43 41 3.88 -16 132 155 133 171 119
Total Pre-Tax Income 		-12 21 -21 53 13 -27 161 195 170 201 141
Total Operating Income		 -70 20 -38 38 9.85 -11 161 218 166 190 110
Total Gross Profit		 376 346 319 302 461 366 593 684 745 694 714
Total Revenue		 4,198 3,925 3,686 3,045 8,003 8,065 12,612 17,325 14,750 11,258 11,009
Operating Revenue		 4,198 3,925 3,686 3,045 8,003 8,065 12,612 17,325 14,750 11,258 11,009
Total Cost of Revenue		 3,823 3,579 3,368 2,743 7,542 7,698 12,019 16,641 14,005 10,564 10,295
Operating Cost of Revenue		 3,823 3,579 3,368 2,743 7,542 7,698 12,019 16,641 14,005 10,564 10,295
Total Operating Expenses		 446 325 357 264 451 378 432 467 579 504 603
Selling, General & Admin Expense		 - - - 258 410 378 423 458 492 504 585
Impairment Charge		 56 9.11 70 6.27 41 - 8.95 9.00 87 0.00 18
Total Other Income / (Expense), net		 58 1.08 18 15 3.18 -16 0.15 -23 3.62 10 31
Interest Expense		 20 21 22 28 43 34 37 57 47 32 47
Other Income / (Expense), net		 46 12 23 16 19 18 37 34 50 42 78
Income Tax Expense		 -0.24 6.91 -63 12 9.15 -11 29 40 37 30 22
Net Income / (Loss) Attributable to Noncontrolling Interest		 1.75 2.88 0.10 -0.26 -3.25 -22 32 36 31 57 24
Basic Earnings per Share		 ($0.46) $0.41 $1.51 $1.47 $0.56 $0.23 $3.12 $3.89 $3.00 $3.35 $2.81
Weighted Average Basic Shares Outstanding		 28M 28.19M 28.13M 28.26M 32.57M 32.92M 33.28M 33.73M 33.72M 34.03M 34.04M
Diluted Earnings per Share		 ($0.46) $0.41 $1.50 $1.46 $0.55 $0.23 $3.07 $3.81 $2.94 $3.32 $2.79
Weighted Average Diluted Shares Outstanding		 28M 28.19M 28.13M 28.45M 33.10M 33.19M 33.86M 34.42M 34.38M 34.32M 34.34M
Weighted Average Basic & Diluted Shares Outstanding		 28M 28.19M 28.13M 28.26M 32.80M 33.20M 33.70M 33.54M 33.83M 34.03M 33.88M
Cash Dividends to Common per Share		 $0.58 $0.63 $0.65 $0.67 $0.69 $0.70 $0.71 $0.73 $0.75 $0.77 $0.79

Quarterly Income Statements for Andersons

This table shows Andersons' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 9.71 51 5.58 52 51 45 0.28 7.86 20 67 33
Consolidated Net Income / (Loss)		 31 78 13 52 51 54 5.33 17 26 71 29
Net Income / (Loss) Continuing Operations		 31 78 13 52 51 54 5.33 17 26 71 29
Total Pre-Tax Income 		38 92 14 57 62 67 3.21 25 26 88 34
Total Operating Income		 31 85 8.96 59 57 66 7.12 24 -1.68 81 16
Total Gross Profit		 158 218 128 175 177 213 153 158 171 231 161
Total Revenue		 3,636 3,213 2,718 2,795 2,621 3,123 2,659 3,136 2,678 2,536 2,627
Operating Revenue		 3,636 3,213 2,718 2,795 2,621 3,123 2,659 3,136 2,678 2,536 2,627
Total Cost of Revenue		 3,478 2,995 2,590 2,620 2,444 2,910 2,506 2,977 2,507 2,305 2,467
Operating Cost of Revenue		 3,478 2,995 2,590 2,620 2,444 2,910 2,506 2,977 2,507 2,305 2,467
Total Operating Expenses		 126 133 119 117 120 147 146 135 173 150 145
Selling, General & Admin Expense		 126 133 119 117 120 147 146 135 173 132 145
Total Other Income / (Expense), net		 6.99 6.76 5.01 -1.41 5.56 1.30 -3.91 1.01 28 6.55 18
Interest Expense		 8.19 8.10 6.52 6.61 8.36 10 13 11 10 12 17
Other Income / (Expense), net		 15 15 12 5.20 14 12 9.19 13 38 19 35
Income Tax Expense		 7.86 13 1.30 4.88 11 13 -2.12 8.03 -0.23 16 4.56
Net Income / (Loss) Attributable to Noncontrolling Interest		 21 27 7.08 0.00 0.00 9.01 5.05 8.95 5.93 3.66 -3.86
Basic Earnings per Share		 $0.29 $1.52 $0.16 $1.06 $0.80 $1.33 $0.01 $0.23 $0.59 $1.98 $0.98
Weighted Average Basic Shares Outstanding		 33.75M 33.72M 33.93M 34.06M 34.07M 34.03M 34.10M 34.20M 34.01M 34.04M 33.96M
Diluted Earnings per Share		 $0.28 $1.49 $0.16 $1.05 $0.80 $1.31 $0.01 $0.23 $0.59 $1.96 $0.97
Weighted Average Diluted Shares Outstanding		 34.27M 34.38M 34.24M 34.34M 34.36M 34.32M 34.32M 34.30M 34.18M 34.34M 34.16M
Weighted Average Basic & Diluted Shares Outstanding		 33.75M 33.83M 34.05M 34.07M 34.07M 34.03M 34.19M 34.21M 33.84M 33.88M 34.05M

Annual Cash Flow Statements for Andersons

This table details how cash moves in and out of Andersons' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -51 -1.12 -28 -12 32 -26 187 -101 529 -82 -463
Net Cash From Operating Activities		 154 40 75 -36 349 -74 -51 287 947 332 177
Net Cash From Continuing Operating Activities		 154 40 75 -36 349 -74 -55 275 947 332 177
Net Income / (Loss) Continuing Operations		 -11 14 43 41 15 -14 132 155 133 171 119
Consolidated Net Income / (Loss)		 -11 14 43 41 15 -14 136 167 133 171 119
Depreciation Expense		 78 84 86 90 146 189 179 135 125 128 133
Non-Cash Adjustments To Reconcile Net Income		 74 18 43 -26 26 38 6.61 33 95 28 32
Changes in Operating Assets and Liabilities, net		 13 -78 -97 -141 161 -287 -372 -48 594 5.33 -107
Net Cash From Investing Activities		 -238 -28 -113 -186 -325 -87 487 -53 -154 -163 -195
Net Cash From Continuing Investing Activities		 -238 -28 -113 -186 -325 -87 487 -53 -154 -163 -195
Purchase of Property, Plant & Equipment		 -72 -78 -35 -143 -165 -77 -76 -108 -150 -149 -233
Acquisitions		 -129 -2.52 -9.19 -3.33 -104 -3.06 -18 -20 -25 -29 0.00
Divestitures		 - - - - 25 0.00 561 61 10 0.00 11
Other Investing Activities, net		 -38 -27 -105 -88 -86 -18 15 14 11 15 27
Net Cash From Financing Activities		 33 -12 10 209 8.71 136 -249 -335 -264 -250 -447
Net Cash From Continuing Financing Activities		 33 -12 10 209 8.71 136 -249 -335 -264 -250 -447
Repayment of Debt		 -95 -99 -68 -124 -618 -566 -1,036 -599 -290 -186 39
Repurchase of Common Equity		 -49 - - -10 - 0.00 0.00 -13 -1.75 -2.30 -15
Payment of Dividends		 -19 -23 -19 -19 -22 -33 -24 -70 -72 -129 -61
Issuance of Debt		 197 110 97 315 923 472 811 350 100 67 15
Other Financing Activities, net		 - 0.00 0.00 - -279 255 - -3.38 0.00 0.00 -425
Effect of Exchange Rate Changes		 - - 0.00 0.00 0.07 -0.88 -0.11 -0.66 -0.29 -0.16 1.98

Quarterly Cash Flow Statements for Andersons

This table details how cash moves in and out of Andersons' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 322 226 -360 246 -76 108 -343 132 -269 17 -26
Net Cash From Operating Activities		 489 251 -240 304 -2.11 269 -350 299 234 -6.19 -394
Net Cash From Continuing Operating Activities		 489 251 -240 304 -2.11 272 -350 299 234 -6.19 -394
Net Income / (Loss) Continuing Operations		 31 78 13 52 51 54 5.33 17 26 71 29
Consolidated Net Income / (Loss)		 31 78 13 52 51 54 5.33 17 26 71 29
Depreciation Expense		 31 31 31 30 30 36 34 33 33 33 34
Non-Cash Adjustments To Reconcile Net Income		 0.40 6.69 4.80 6.03 4.33 13 -367 -6.99 9.74 12 4.70
Changes in Operating Assets and Liabilities, net		 427 134 -288 216 -88 169 -22 256 165 -122 -462
Net Cash From Investing Activities		 -46 -37 -22 -36 -32 -72 -44 -32 -52 -68 -49
Net Cash From Continuing Investing Activities		 -46 -37 -22 -36 -32 -72 -44 -32 -52 -68 -49
Purchase of Property, Plant & Equipment		 -34 -42 -27 -29 -38 -56 -47 -49 -67 -71 -52
Other Investing Activities, net		 2.20 5.42 4.72 2.09 5.39 3.09 2.72 17 15 -8.37 2.25
Net Cash From Financing Activities		 -121 12 -98 -22 -43 -88 50 -137 -451 91 418
Net Cash From Continuing Financing Activities		 -121 12 -98 -22 -43 -88 50 -137 -451 91 418
Repayment of Debt		 -95 22 -39 -45 31 -66 -9.77 -129 28 94 -122
Payment of Dividends		 -26 -8.72 -51 -8.97 -46 -22 -6.69 -8.22 -39 -7.07 -6.85
Issuance of Debt		 - - 0.00 32 -27 2.10 71 - - - 554
Other Financing Activities, net		 -0.01 -0.00 -8.07 - -0.03 -0.00 -3.84 -0.09 -0.08 -421 -7.00
Effect of Exchange Rate Changes		 -0.47 -0.10 0.01 - 0.91 -0.86 - 1.76 -0.66 0.02 -0.53

Annual Balance Sheets for Andersons

This table presents Andersons' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 2,359 2,233 2,162 2,392 3,901 4,272 4,569 4,608 3,855 4,121 3,713
Total Current Assets		 1,130 1,058 999 1,023 1,945 2,416 3,372 3,466 2,807 2,850 2,376
Cash & Equivalents		 64 63 35 23 55 29 216 115 644 562 98
Note & Lease Receivable		 171 195 183 207 536 641 835 1,249 763 765 652
Inventories, net		 747 683 649 691 1,171 1,293 1,815 1,732 1,167 1,287 1,365
Other Current Assets		 140 118 94 51 108 420 485 370 234 237 261
Plant, Property, & Equipment, net		 793 777 808 998 1,523 860 786 763 693 868 940
Total Noncurrent Assets		 436 397 355 370 433 995 411 379 355 403 397
Other Noncurrent Operating Assets		 9.93 11 13 23 122 80 121 149 141 206 397
Total Liabilities & Shareholders' Equity		 2,359 2,233 2,162 2,392 3,901 4,272 4,569 4,608 3,855 4,121 3,713
Total Liabilities		 1,575 1,442 1,339 1,515 2,705 3,111 3,262 3,178 2,339 2,521 2,423
Total Current Liabilities		 888 800 739 833 1,440 1,932 2,464 2,521 1,636 1,731 1,686
Short-Term Debt		 45 77 76 227 210 473 534 383 71 203 313
Accounts Payable		 669 582 504 463 873 955 1,199 1,424 1,055 1,047 919
Accrued Expenses		 70 70 70 79 176 153 230 246 232 227 208
Current Deferred Revenue		 67 49 60 33 134 178 358 371 187 194 195
Other Current Liabilities		 37 23 30 33 47 147 129 99 91 60 51
Total Noncurrent Liabilities		 687 642 601 682 1,265 1,180 798 657 702 790 736
Long-Term Debt		 436 397 418 496 1,016 886 600 493 563 608 560
Other Noncurrent Operating Liabilities		 19 28 34 33 103 75 110 100 81 182 176
Commitments & Contingencies		 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 784 791 823 877 1,196 1,161 1,308 1,430 1,516 1,600 1,290
Total Preferred & Common Equity		 764 774 815 830 974 962 1,072 1,199 1,283 1,366 1,245
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 764 774 815 830 974 962 1,072 1,199 1,283 1,366 1,245
Common Stock		 223 223 225 224 345 349 369 385 387 386 209
Retained Earnings		 615 609 633 648 643 626 703 808 883 971 1,039
Treasury Stock		 -53 -45 -40 -35 -7.34 -0.97 -0.26 -15 -10 -2.86 -14
Accumulated Other Comprehensive Income / (Loss)		 -21 -12 -2.70 -6.39 -7.23 -12 1.19 20 23 13 11
Noncontrolling Interest		 19 16 7.70 46 222 199 235 231 233 234 45

Quarterly Balance Sheets for Andersons

This table presents Andersons' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 4,419 4,102 3,570 3,588 3,261 3,300 3,388 3,798 3,446 3,297 3,920
Total Current Assets		 3,265 3,050 2,537 2,527 2,214 2,249 2,331 2,529 2,175 1,961 2,557
Cash & Equivalents		 141 71 96 418 284 530 454 219 351 82 72
Note & Lease Receivable		 991 1,125 1,030 817 702 744 757 812 784 716 772
Inventories, net		 1,556 1,551 991 985 995 687 884 1,249 772 899 1,399
Other Current Assets		 577 303 420 307 234 289 236 248 269 264 314
Plant, Property, & Equipment, net		 766 679 663 680 689 694 710 860 884 906 961
Total Noncurrent Assets		 387 373 369 381 358 356 347 409 387 430 402
Other Noncurrent Operating Assets		 159 148 369 381 358 356 347 409 387 430 402
Total Liabilities & Shareholders' Equity		 4,419 4,102 3,570 3,588 3,261 3,300 3,388 3,798 3,446 3,297 3,920
Total Liabilities		 2,992 2,756 2,132 2,139 1,785 1,780 1,865 2,203 1,836 2,074 2,610
Total Current Liabilities		 2,321 2,112 1,393 1,408 1,083 1,085 1,178 1,434 1,081 1,330 1,871
Short-Term Debt		 765 724 130 42 38 32 42 285 169 205 740
Accounts Payable		 930 769 641 822 626 607 774 661 572 783 633
Accrued Expenses		 230 202 181 189 178 193 208 194 187 202 207
Current Deferred Revenue		 259 310 190 212 175 124 68 224 74 72 223
Other Current Liabilities		 137 108 251 143 67 129 86 70 79 69 68
Total Noncurrent Liabilities		 672 643 738 731 702 695 687 769 755 743 740
Long-Term Debt		 498 487 576 570 556 549 543 588 578 569 569
Other Noncurrent Operating Liabilities		 115 102 162 162 146 145 145 181 177 174 171
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,427 1,346 1,438 1,449 1,476 1,520 1,523 1,594 1,611 1,223 1,310
Total Preferred & Common Equity		 1,194 1,170 1,231 1,241 1,280 1,311 1,329 1,356 1,364 1,181 1,269
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,194 1,170 1,231 1,241 1,280 1,311 1,329 1,356 1,364 1,181 1,269
Common Stock		 382 378 381 384 375 379 382 383 385 206 201
Retained Earnings		 806 786 835 839 882 911 932 964 965 979 1,065
Treasury Stock		 -9.99 -11 -10 -10 -0.63 -0.63 -0.57 0.00 0.00 -14 -8.07
Accumulated Other Comprehensive Income / (Loss)		 16 16 25 29 23 21 15 8.86 14 11 10
Noncontrolling Interest		 233 177 207 208 196 210 194 239 246 42 41

Annual Metrics And Ratios for Andersons

This table displays calculated financial ratios and metrics derived from Andersons' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -7.52% -6.52% -6.08% -17.39% 162.80% 0.77% 56.39% 37.37% -14.86% -23.68% -2.21%
EBITDA Growth		 -67.89% 112.76% -39.60% 103.81% 21.07% 11.92% 92.99% 2.43% -11.56% 5.50% -10.65%
EBIT Growth		 -121.41% 239.99% -147.84% 443.49% -47.33% -76.37% 2,854.83% 26.95% -13.92% 7.43% -18.88%
NOPAT Growth		 -193.86% 128.09% -294.52% 209.84% -90.02% -374.64% 1,732.86% 31.86% -25.15% 24.76% -42.52%
Net Income Growth		 -109.23% 227.80% 194.46% -3.25% -63.47% -194.39% 1,055.79% 22.90% -20.63% 28.80% -30.11%
EPS Growth		 -111.98% 189.13% 265.85% -2.67% -62.33% -58.18% 1,234.78% 24.10% -22.83% 12.93% -15.96%
Operating Cash Flow Growth		 1,630.47% -74.32% 90.19% -147.18% 1,081.34% -121.35% 31.41% 662.42% 229.74% -64.98% -46.61%
Free Cash Flow Firm Growth		 42.19% 91.82% -427.19% -264.32% -331.73% 139.30% -143.43% 201.90% 365.32% -122.25% 32.16%
Invested Capital Growth		 11.54% 2.70% 3.77% 25.66% 78.51% -17.59% 16.04% -0.07% -31.22% 22.76% 11.67%
Revenue Q/Q Growth		 -2.06% -1.76% -2.87% -5.91% 12.77% 9.76% 11.96% 5.45% -9.03% -0.79% -5.06%
EBITDA Q/Q Growth		 -62.31% 255.32% -21.63% 34.71% -15.96% 31.52% 17.82% -10.56% 18.16% -4.63% 6.36%
EBIT Q/Q Growth		 -133.00% 165.07% -532.58% 213.28% -67.37% 116.59% 51.93% -14.39% 33.80% -8.77% 13.31%
NOPAT Q/Q Growth		 -259.93% 122.37% -159.22% 879.85% -95.56% 82.14% 73.68% -19.32% 63.92% -10.73% 15.65%
Net Income Q/Q Growth		 -117.87% 133.22% 369.23% -52.78% -54.45% 38.72% 54.09% -22.06% 91.55% -12.48% 16.60%
EPS Q/Q Growth		 -121.50% 125.31% 350.00% -52.75% -53.39% 483.33% 13.70% -13.41% 70.93% -5.14% 30.37%
Operating Cash Flow Q/Q Growth		 382.44% -71.25% 27.66% -181.88% 36.54% -133.12% 66.23% 188.76% -16.70% 5.79% -60.84%
Free Cash Flow Firm Q/Q Growth		 66.69% -116.42% -95.15% -21.41% -19.75% -9.34% 36.49% 141.33% -17.47% -206.63% 32.28%
Invested Capital Q/Q Growth		 -9.50% 6.55% 7.95% 12.50% 11.99% 20.64% 14.66% -14.08% -8.30% 11.79% 7.78%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 8.95% 8.80% 8.65% 9.92% 5.76% 4.54% 4.70% 3.95% 5.05% 6.16% 6.48%
EBITDA Margin		 1.31% 2.98% 1.92% 4.73% 2.18% 2.42% 2.99% 2.23% 2.32% 3.20% 2.92%
Operating Margin		 -1.66% 0.52% -1.04% 1.24% 0.12% -0.14% 1.27% 1.26% 1.13% 1.69% 1.00%
EBIT Margin		 -0.56% 0.84% -0.43% 1.77% 0.35% 0.08% 1.57% 1.45% 1.47% 2.07% 1.71%
Profit (Net Income) Margin		 -0.27% 0.37% 1.16% 1.35% 0.19% -0.18% 1.08% 0.96% 0.90% 1.52% 1.08%
Tax Burden Percent		 97.91% 67.68% -207.60% 77.55% 115.66% 52.49% 84.51% 85.81% 78.16% 85.03% 84.33%
Interest Burden Percent		 49.39% 65.23% 130.89% 98.69% 45.90% -404.01% 81.17% 77.39% 78.35% 86.34% 75.00%
Effective Tax Rate		 0.00% 32.32% 0.00% 22.45% 70.23% 0.00% 18.18% 20.37% 21.84% 14.97% 15.67%
Return on Invested Capital (ROIC)		 -5.38% 1.41% -2.67% 2.55% 0.16% -0.39% 6.44% 7.91% 7.02% 9.65% 4.75%
ROIC Less NNEP Spread (ROIC-NNEP)		 30.44% 1.81% 32.70% 6.47% 1.78% -1.06% 6.99% 7.14% 7.77% 17.08% 9.89%
Return on Net Nonoperating Assets (RNNOA)		 3.97% 0.42% 7.95% 2.30% 1.29% -0.82% 4.57% 4.29% 1.98% 1.31% 3.50%
Return on Equity (ROE)		 -1.41% 1.84% 5.28% 4.85% 1.45% -1.21% 11.01% 12.20% 9.00% 10.96% 8.26%
Cash Return on Invested Capital (CROIC)		 -16.29% -1.25% -6.37% -20.19% -56.22% 18.90% -8.41% 7.98% 44.01% -10.79% -6.27%
Operating Return on Assets (OROA)		 -0.99% 1.43% -0.71% 2.37% 0.90% 0.16% 4.48% 5.48% 5.11% 5.83% 4.82%
Return on Assets (ROA)		 -0.48% 0.63% 1.94% 1.81% 0.48% -0.35% 3.07% 3.64% 3.13% 4.28% 3.05%
Return on Common Equity (ROCE)		 -1.37% 1.80% 5.20% 4.70% 1.27% -0.99% 9.07% 10.12% 7.58% 9.31% 7.46%
Return on Equity Simple (ROE_SIMPLE)		 -1.48% 1.87% 5.23% 4.96% 1.55% -1.48% 12.67% 13.93% 10.33% 12.49% 0.00%
Net Operating Profit after Tax (NOPAT)		 -49 14 -27 29 2.93 -8.05 131 173 130 162 93
NOPAT Margin		 -1.17% 0.35% -0.73% 0.96% 0.04% -0.10% 1.04% 1.00% 0.88% 1.44% 0.84%
Net Nonoperating Expense Percent (NNEP)		 -35.83% -0.40% -35.37% -3.92% -1.61% 0.68% -0.55% 0.77% -0.75% -7.44% -5.14%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 7.52% 6.03% 6.71% 4.30%
Cost of Revenue to Revenue		 91.05% 91.20% 91.35% 90.08% 94.24% 95.46% 95.30% 96.05% 94.95% 93.84% 93.52%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 8.47% 5.12% 4.68% 3.35% 2.64% 3.34% 4.47% 5.32%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 10.62% 8.29% 9.68% 8.67% 5.63% 4.68% 3.43% 2.69% 3.93% 4.47% 5.48%
Earnings before Interest and Taxes (EBIT)		 -23 33 -16 54 28 6.70 198 251 216 233 189
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 55 117 71 144 175 195 377 386 342 360 322
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.96 1.38 0.93 0.89 0.76 0.79 1.15 0.95 1.49 1.01 1.44
Price to Tangible Book Value (P/TBV)		 1.27 1.76 1.09 1.02 1.12 1.10 1.49 1.17 1.79 1.18 1.70
Price to Revenue (P/Rev)		 0.18 0.27 0.21 0.24 0.09 0.09 0.10 0.07 0.13 0.12 0.16
Price to Earnings (P/E)		 0.00 91.86 17.91 17.91 40.58 98.25 11.87 8.67 18.89 12.05 18.73
Dividend Yield		 2.19% 1.65% 2.41% 2.53% 3.01% 3.05% 1.90% 2.14% 1.32% 1.88% 1.47%
Earnings Yield		 0.00% 1.09% 5.58% 5.58% 2.46% 1.02% 8.42% 11.54% 5.29% 8.30% 5.34%
Enterprise Value to Invested Capital (EV/IC)		 0.97 1.30 0.98 0.97 0.93 1.21 1.09 0.97 1.42 1.00 1.27
Enterprise Value to Revenue (EV/Rev)		 0.22 0.32 0.27 0.41 0.27 0.28 0.19 0.12 0.14 0.16 0.24
Enterprise Value to EBITDA (EV/EBITDA)		 16.89 10.89 14.22 8.65 12.24 11.71 6.33 5.51 6.25 5.15 8.11
Enterprise Value to EBIT (EV/EBIT)		 0.00 38.89 0.00 23.15 75.29 341.15 12.06 8.46 9.86 7.99 13.85
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 92.77 0.00 42.48 728.91 0.00 18.17 12.28 16.46 11.47 28.09
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.03 32.21 13.36 0.00 6.13 0.00 0.00 7.41 2.26 5.60 14.76
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 5.79 0.00 12.17 2.63 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.61 0.60 0.60 0.82 1.03 1.17 0.87 0.61 0.42 0.51 0.68
Long-Term Debt to Equity		 0.56 0.50 0.51 0.57 0.85 0.76 0.46 0.34 0.37 0.38 0.43
Financial Leverage		 0.13 0.23 0.24 0.36 0.72 0.77 0.65 0.60 0.25 0.08 0.35
Leverage Ratio		 2.94 2.92 2.72 2.68 3.04 3.47 3.58 3.35 2.87 2.56 2.71
Compound Leverage Factor		 1.45 1.90 3.57 2.64 1.39 -14.01 2.91 2.59 2.25 2.21 2.03
Debt to Total Capital		 38.03% 37.46% 37.54% 45.19% 50.63% 53.95% 46.45% 37.97% 29.47% 33.64% 40.35%
Short-Term Debt to Total Capital		 3.54% 6.05% 5.78% 14.17% 8.67% 18.77% 21.87% 16.60% 3.29% 8.41% 14.46%
Long-Term Debt to Total Capital		 34.49% 31.41% 31.75% 31.02% 41.96% 35.17% 24.59% 21.37% 26.18% 25.23% 25.89%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.54% 1.29% 0.58% 2.90% 9.17% 7.89% 9.63% 10.03% 10.86% 9.69% 2.10%
Common Equity to Total Capital		 60.43% 61.25% 61.88% 51.91% 40.20% 38.17% 43.91% 52.00% 59.67% 56.67% 57.55%
Debt to EBITDA		 8.74 4.04 6.99 5.01 7.03 6.96 3.01 2.27 1.86 2.25 2.71
Net Debt to EBITDA		 3.17 1.65 3.34 3.18 6.71 6.81 2.44 1.97 -0.03 0.69 2.41
Long-Term Debt to EBITDA		 7.93 3.39 5.91 3.44 5.82 4.54 1.59 1.28 1.65 1.69 1.74
Debt to NOPAT		 -9.83 34.46 -18.50 24.62 418.41 -168.91 8.63 5.05 4.89 5.01 9.38
Net Debt to NOPAT		 -3.57 14.09 -8.84 15.59 399.67 -165.30 6.99 4.39 -0.08 1.54 8.33
Long-Term Debt to NOPAT		 -8.92 28.89 -15.65 16.90 346.77 -110.14 4.57 2.84 4.34 3.76 6.02
Altman Z-Score		 2.51 2.77 2.58 2.12 2.63 2.38 3.58 4.65 5.19 3.90 4.19
Noncontrolling Interest Sharing Ratio		 2.51% 2.28% 1.49% 3.19% 12.96% 17.86% 17.58% 17.04% 15.77% 14.99% 9.66%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.27 1.32 1.35 1.23 1.35 1.25 1.37 1.37 1.72 1.65 1.41
Quick Ratio		 0.26 0.32 0.30 0.28 0.41 0.35 0.43 0.54 0.86 0.77 0.45
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -148 -12 -64 -233 -1,005 395 -172 175 813 -181 -123
Operating Cash Flow to CapEx		 213.53% 505.17% 10,412.86% -37.35% 218.16% -112.72% -71.64% 265.15% 629.31% 222.21% 75.92%
Free Cash Flow to Firm to Interest Expense		 -7.38 -0.57 -2.96 -8.36 -23.26 11.69 -4.60 3.07 17.35 -5.70 -2.60
Operating Cash Flow to Interest Expense		 7.68 1.87 3.49 -1.28 8.07 -2.20 -1.37 5.05 20.20 10.44 3.75
Operating Cash Flow Less CapEx to Interest Expense		 4.08 1.50 3.46 -4.69 4.37 -4.16 -3.28 3.15 16.99 5.74 -1.19
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.78 1.71 1.68 1.34 2.54 1.97 2.85 3.78 3.49 2.82 2.81
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 4.95 5.01 5.06 4.10 8.10 6.25 7.74 9.39 9.66 8.61 7.76
Fixed Asset Turnover		 5.59 5.00 4.65 3.37 6.35 6.77 15.32 22.37 20.26 14.42 12.18
Accounts Payable Turnover		 5.56 5.72 6.21 5.68 11.29 8.42 11.16 12.69 11.30 10.05 10.47
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 73.67 72.92 72.16 89.11 45.04 58.40 47.19 38.89 37.77 42.39 47.01
Days Payable Outstanding (DPO)		 65.67 63.77 58.82 64.27 32.32 43.33 32.71 28.77 32.31 36.33 34.85
Cash Conversion Cycle (CCC)		 7.99 9.15 13.33 24.84 12.72 15.07 14.48 10.13 5.46 6.06 12.16
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 958 984 1,021 1,284 2,291 1,888 2,191 2,190 1,506 1,849 2,065
Invested Capital Turnover		 4.62 4.04 3.68 2.64 4.48 3.86 6.18 7.91 7.98 6.71 5.63
Increase / (Decrease) in Invested Capital		 99 26 37 262 1,008 -403 303 -1.49 -684 343 216
Enterprise Value (EV)		 929 1,275 1,006 1,247 2,136 2,287 2,388 2,127 2,135 1,857 2,612
Market Capitalization		 735 1,065 761 743 743 758 1,235 1,136 1,912 1,374 1,792
Book Value per Share		 $27.29 $27.46 $28.70 $29.34 $29.87 $29.17 $32.22 $35.78 $38.01 $40.10 $36.79
Tangible Book Value per Share		 $20.72 $21.43 $24.52 $25.62 $20.34 $20.93 $24.81 $28.90 $31.69 $34.31 $31.13
Total Capital		 1,265 1,264 1,317 1,600 2,422 2,520 2,442 2,305 2,150 2,411 2,163
Total Debt		 481 474 495 723 1,226 1,360 1,135 875 634 811 873
Total Long-Term Debt		 436 397 418 496 1,016 886 600 493 563 608 560
Net Debt		 175 194 236 458 1,171 1,330 918 760 -10 249 775
Capital Expenditures (CapEx)		 72 7.84 0.72 95 160 66 71 108 150 149 233
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 222 272 302 394 660 929 1,226 1,212 597 760 905
Debt-free Net Working Capital (DFNWC)		 286 335 337 416 715 958 1,442 1,327 1,241 1,322 1,003
Net Working Capital (NWC)		 241 258 260 190 505 485 908 945 1,171 1,119 690
Net Nonoperating Expense (NNE)		 -38 -0.73 -69 -12 -12 6.17 -4.44 6.31 -2.83 -8.89 -26
Net Nonoperating Obligations (NNO)		 175 194 199 407 1,096 728 884 760 -10 249 775
Total Depreciation and Amortization (D&A)		 78 84 86 90 146 189 179 135 125 128 133
Debt-free, Cash-free Net Working Capital to Revenue		 5.29% 6.93% 8.19% 12.93% 8.25% 11.52% 9.72% 7.00% 4.05% 6.75% 8.22%
Debt-free Net Working Capital to Revenue		 6.82% 8.53% 9.13% 13.67% 8.94% 11.88% 11.44% 7.66% 8.42% 11.74% 9.11%
Net Working Capital to Revenue		 5.75% 6.58% 7.07% 6.23% 6.32% 6.01% 7.20% 5.45% 7.94% 9.94% 6.27%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.46) $0.41 $1.51 $1.47 $0.56 $0.23 $3.12 $3.89 $3.00 $3.35 $2.81
Adjusted Weighted Average Basic Shares Outstanding		 28M 28.20M 28.20M 32.50M 32.80M 32.92M 33.28M 33.73M 33.72M 34.03M 34.04M
Adjusted Diluted Earnings per Share		 ($0.46) $0.41 $1.50 $1.46 $0.55 $0.23 $3.07 $3.81 $2.94 $3.32 $2.79
Adjusted Weighted Average Diluted Shares Outstanding		 28M 28.20M 28.20M 32.50M 32.80M 33.19M 33.86M 34.42M 34.38M 34.32M 34.34M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 28M 28.20M 28.20M 32.50M 32.80M 33.20M 33.70M 33.54M 33.83M 34.03M 33.88M
Normalized Net Operating Profit after Tax (NOPAT)		 27 20 22 34 36 -8.05 139 180 198 162 108
Normalized NOPAT Margin		 0.63% 0.51% 0.60% 1.12% 0.45% -0.10% 1.10% 1.04% 1.34% 1.44% 0.98%
Pre Tax Income Margin		 -0.28% 0.54% -0.56% 1.75% 0.16% -0.34% 1.27% 1.12% 1.15% 1.78% 1.29%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -1.17 1.55 -0.73 1.93 0.66 0.20 5.31 4.42 4.62 7.32 4.00
NOPAT to Interest Expense		 -2.44 0.65 -1.24 1.05 0.07 -0.24 3.52 3.05 2.77 5.09 1.97
EBIT Less CapEx to Interest Expense		 -4.76 1.18 -0.76 -1.48 -3.04 -1.76 3.40 2.52 1.41 2.62 -0.94
NOPAT Less CapEx to Interest Expense		 -6.03 0.28 -1.27 -2.36 -3.63 -2.19 1.61 1.14 -0.44 0.40 -2.97
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -168.94% 160.44% 43.49% 45.21% 146.87% -234.44% 17.50% 41.63% 54.17% 75.32% 50.81%
Augmented Payout Ratio		 -602.51% 160.44% 43.49% 69.47% 146.87% -234.44% 17.50% 49.25% 55.49% 76.66% 63.69%

Quarterly Metrics And Ratios for Andersons

This table displays calculated financial ratios and metrics derived from Andersons' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 33,880,130.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 33,880,130.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.98
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -13.83% -31.31% -29.97% -30.47% -27.91% -2.80% -2.17% 12.19% 2.16% -18.79% -1.20%
EBITDA Growth		 -6.30% 66.74% 418.39% -36.65% 29.79% -13.32% -1.54% -26.35% -31.69% 16.92% 67.51%
EBIT Growth		 -6.29% 120.98% 142.36% -45.97% 51.49% -22.38% -20.41% -43.20% -48.52% 28.58% 211.06%
NOPAT Growth		 -27.76% 218.17% 120.59% -35.91% 87.70% -26.97% 45.34% -70.01% -103.62% 23.95% 16.66%
Net Income Growth		 -31.06% 419.59% 121.42% -36.54% 68.60% -31.02% -57.91% -67.97% -49.34% 31.40% 450.22%
EPS Growth		 -73.58% 451.85% 136.36% -34.78% 185.71% -12.08% -93.75% -78.10% -26.25% 49.62% 9,600.00%
Operating Cash Flow Growth		 -14.03% -43.09% 28.16% -43.72% -100.43% 7.24% -46.07% -1.68% 11,173.96% -102.30% -12.47%
Free Cash Flow Firm Growth		 254.40% 3,008.56% -10.26% -52.20% -96.20% -138.31% -163.66% -178.91% -845.32% 48.22% 37.04%
Invested Capital Growth		 -35.56% -31.22% -28.18% -23.33% 0.70% 22.76% 25.93% 27.74% 15.82% 11.67% 13.24%
Revenue Q/Q Growth		 -9.56% -11.63% -15.40% 2.83% -6.23% 19.16% -14.86% 17.93% -14.61% -5.28% 3.59%
EBITDA Q/Q Growth		 -47.70% 68.62% -60.78% 83.18% 7.15% 12.61% -55.45% 37.02% -0.62% 92.75% -36.18%
EBIT Q/Q Growth		 -60.66% 114.42% -79.48% 212.14% 10.31% 9.87% -78.96% 122.76% -0.02% 174.41% -49.10%
NOPAT Q/Q Growth		 -70.24% 191.05% -88.82% 561.59% -12.84% 13.24% -77.74% 36.53% -110.52% 3,976.18% -79.05%
Net Income Q/Q Growth		 -63.09% 156.98% -83.85% 314.29% -1.92% 5.14% -90.15% 215.27% 55.12% 172.69% -58.74%
EPS Q/Q Growth		 -82.61% 432.14% -89.26% 556.25% -23.81% 63.75% -99.24% 2,200.00% 156.52% 232.20% -50.51%
Operating Cash Flow Q/Q Growth		 -9.66% -48.71% -195.60% 227.04% -100.69% 12,827.79% -230.21% 185.52% -21.86% -102.64% -6,265.00%
Free Cash Flow Firm Q/Q Growth		 -16.29% -18.79% -6.29% -24.96% -93.35% -919.80% -55.71% 7.00% 37.22% 43.05% -89.34%
Invested Capital Q/Q Growth		 -19.84% -8.30% 18.56% -12.03% 5.28% 11.79% 21.62% -10.76% -4.53% 7.78% 23.33%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 4.34% 6.78% 4.72% 6.27% 6.76% 6.82% 5.75% 5.05% 6.38% 9.13% 6.11%
EBITDA Margin		 2.14% 4.08% 1.89% 3.37% 3.85% 3.64% 1.90% 2.21% 2.58% 5.24% 3.23%
Operating Margin		 0.86% 2.65% 0.33% 2.10% 2.16% 2.11% 0.27% 0.76% -0.06% 3.19% 0.61%
EBIT Margin		 1.28% 3.11% 0.75% 2.29% 2.69% 2.48% 0.61% 1.16% 1.36% 3.93% 1.93%
Profit (Net Income) Margin		 0.84% 2.44% 0.47% 1.88% 1.96% 1.73% 0.20% 0.54% 0.97% 2.80% 1.12%
Tax Burden Percent		 79.52% 85.48% 90.67% 91.50% 82.75% 80.45% 165.92% 67.67% 100.88% 81.18% 86.55%
Interest Burden Percent		 82.42% 91.89% 68.17% 89.66% 88.15% 86.76% 19.70% 68.36% 71.15% 87.87% 66.81%
Effective Tax Rate		 20.48% 14.52% 9.33% 8.50% 17.25% 19.55% -65.92% 32.33% -0.88% 18.82% 13.45%
Return on Invested Capital (ROIC)		 5.31% 18.05% 1.90% 13.14% 12.31% 11.40% 2.47% 3.32% -0.41% 14.59% 2.40%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.16% 19.59% 2.53% 12.75% 15.15% 12.27% 1.12% 3.62% 6.33% 15.63% 4.05%
Return on Net Nonoperating Assets (RNNOA)		 2.82% 4.99% 1.30% 2.85% 1.65% 0.94% 0.35% 0.52% 1.90% 5.54% 2.63%
Return on Equity (ROE)		 8.13% 23.04% 3.20% 15.98% 13.96% 12.34% 2.82% 3.83% 1.49% 20.13% 5.04%
Cash Return on Invested Capital (CROIC)		 47.02% 44.01% 41.70% 35.20% 10.30% -10.79% -14.92% -17.40% -10.16% -6.27% -8.29%
Operating Return on Assets (OROA)		 5.19% 10.83% 2.78% 8.23% 8.76% 7.01% 1.95% 3.96% 4.71% 11.04% 5.49%
Return on Assets (ROA)		 3.40% 8.51% 1.72% 6.76% 6.39% 4.89% 0.64% 1.83% 3.38% 7.88% 3.18%
Return on Common Equity (ROCE)		 6.88% 19.40% 2.78% 13.73% 12.07% 10.49% 2.42% 3.28% 1.36% 18.18% 4.55%
Return on Equity Simple (ROE_SIMPLE)		 5.58% 0.00% 15.96% 13.28% 14.67% 0.00% 12.05% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 25 73 8.13 54 47 53 12 16 -1.70 66 14
NOPAT Margin		 0.69% 2.26% 0.30% 1.92% 1.79% 1.70% 0.44% 0.51% -0.06% 2.59% 0.52%
Net Nonoperating Expense Percent (NNEP)		 -0.85% -1.54% -0.63% 0.39% -2.84% -0.87% 1.34% -0.31% -6.74% -1.04% -1.65%
Return On Investment Capital (ROIC_SIMPLE)		 - 3.38% 0.39% - - 2.20% 0.48% 0.68% -0.09% 3.04% 0.53%
Cost of Revenue to Revenue		 95.66% 93.22% 95.28% 93.73% 93.24% 93.18% 94.25% 94.95% 93.62% 90.87% 93.89%
SG&A Expenses to Revenue		 3.47% 4.13% 4.39% 4.17% 4.60% 4.71% 5.48% 4.29% 6.44% 5.22% 5.51%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 3.47% 4.13% 4.39% 4.17% 4.60% 4.71% 5.48% 4.29% 6.44% 5.93% 5.51%
Earnings before Interest and Taxes (EBIT)		 47 100 20 64 71 78 16 36 36 100 51
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 78 131 51 94 101 114 51 69 69 133 85
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.38 1.49 1.49 1.28 1.28 1.01 1.07 0.92 1.15 1.44 1.91
Price to Tangible Book Value (P/TBV)		 1.38 1.79 1.49 1.28 1.28 1.18 1.07 0.92 1.15 1.70 1.91
Price to Revenue (P/Rev)		 0.11 0.13 0.14 0.14 0.15 0.12 0.13 0.11 0.12 0.16 0.22
Price to Earnings (P/E)		 29.04 18.89 15.67 16.42 14.17 12.05 13.38 19.50 41.35 18.73 18.86
Dividend Yield		 1.46% 1.32% 1.33% 1.52% 1.51% 1.88% 1.79% 2.11% 1.96% 1.47% 1.10%
Earnings Yield		 3.44% 5.29% 6.38% 6.09% 7.06% 8.30% 7.48% 5.13% 2.42% 5.34% 5.30%
Enterprise Value to Invested Capital (EV/IC)		 1.29 1.42 1.35 1.24 1.23 1.00 1.04 0.94 1.09 1.27 1.45
Enterprise Value to Revenue (EV/Rev)		 0.13 0.14 0.18 0.16 0.18 0.16 0.21 0.16 0.18 0.24 0.34
Enterprise Value to EBITDA (EV/EBITDA)		 7.32 6.25 5.89 5.48 5.36 5.15 6.53 5.65 6.90 8.11 10.40
Enterprise Value to EBIT (EV/EBIT)		 13.08 9.86 8.45 8.41 7.95 7.99 10.28 9.43 12.55 13.85 16.60
Enterprise Value to NOPAT (EV/NOPAT)		 26.74 16.46 12.67 12.21 11.18 11.47 14.48 15.20 25.99 28.09 37.35
Enterprise Value to Operating Cash Flow (EV/OCF)		 1.86 2.26 2.32 2.42 6.47 5.60 10.62 8.76 4.62 14.76 27.77
Enterprise Value to Free Cash Flow (EV/FCFF)		 2.15 2.63 2.71 3.05 11.94 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.42 0.42 0.40 0.38 0.38 0.51 0.55 0.46 0.63 0.68 1.00
Long-Term Debt to Equity		 0.39 0.37 0.38 0.36 0.36 0.38 0.37 0.36 0.47 0.43 0.43
Financial Leverage		 0.46 0.25 0.51 0.22 0.11 0.08 0.31 0.14 0.30 0.35 0.65
Leverage Ratio		 2.78 2.87 2.61 2.32 2.35 2.56 2.30 2.15 2.43 2.71 2.66
Compound Leverage Factor		 2.29 2.64 1.78 2.08 2.07 2.22 0.45 1.47 1.73 2.38 1.78
Debt to Total Capital		 29.67% 29.47% 28.70% 27.65% 27.75% 33.64% 35.39% 31.69% 38.77% 40.35% 49.98%
Short-Term Debt to Total Capital		 2.02% 3.29% 1.82% 1.51% 2.01% 8.41% 11.56% 7.15% 10.28% 14.46% 28.26%
Long-Term Debt to Total Capital		 27.65% 26.18% 26.87% 26.14% 25.74% 25.23% 23.83% 24.54% 28.49% 25.89% 21.73%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 10.11% 10.86% 9.45% 9.98% 9.20% 9.69% 9.67% 10.44% 2.10% 2.10% 1.58%
Common Equity to Total Capital		 60.22% 59.67% 61.85% 62.37% 63.05% 56.67% 54.94% 57.87% 59.13% 57.55% 48.44%
Debt to EBITDA		 2.12 1.86 1.45 1.64 1.55 2.25 2.43 2.23 2.56 2.71 3.68
Net Debt to EBITDA		 0.67 -0.03 0.76 0.14 0.35 0.69 1.82 1.18 2.29 2.41 3.47
Long-Term Debt to EBITDA		 1.97 1.65 1.36 1.55 1.44 1.69 1.64 1.73 1.88 1.74 1.60
Debt to NOPAT		 7.73 4.89 3.12 3.65 3.23 5.01 5.39 6.00 9.63 9.38 13.20
Net Debt to NOPAT		 2.44 -0.08 1.63 0.32 0.72 1.54 4.04 3.18 8.61 8.33 12.47
Long-Term Debt to NOPAT		 7.20 4.34 2.93 3.45 2.99 3.76 3.63 4.65 7.08 6.02 5.74
Altman Z-Score		 5.74 5.09 5.62 5.19 4.76 3.78 4.06 4.56 4.59 4.11 3.99
Noncontrolling Interest Sharing Ratio		 15.34% 15.77% 13.20% 14.10% 13.53% 14.99% 14.15% 14.56% 8.59% 9.66% 9.64%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.80 1.72 2.04 2.07 1.98 1.65 1.76 2.01 1.47 1.41 1.37
Quick Ratio		 0.88 0.86 0.91 1.17 1.03 0.77 0.72 1.05 0.60 0.45 0.45
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 931 756 709 532 35 -290 -451 -420 -263 -150 -284
Operating Cash Flow to CapEx		 1,448.94% 600.75% -894.97% 1,063.93% -5.58% 480.39% -751.96% 613.01% 349.94% -8.72% -761.28%
Free Cash Flow to Firm to Interest Expense		 113.74 93.35 108.66 80.44 4.23 -28.22 -34.45 -36.50 -25.14 -12.41 -16.87
Operating Cash Flow to Interest Expense		 59.68 30.94 -36.74 46.05 -0.25 26.18 -26.73 26.04 22.32 -0.51 -23.38
Operating Cash Flow Less CapEx to Interest Expense		 55.56 25.79 -40.85 41.72 -4.78 20.73 -30.28 21.79 15.94 -6.38 -26.45
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 4.05 3.49 3.69 3.60 3.25 2.82 3.17 3.42 3.47 2.81 2.84
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 12.21 9.66 10.10 13.93 11.39 8.61 9.34 14.86 12.22 7.76 7.75
Fixed Asset Turnover		 22.42 20.26 19.87 18.21 16.33 14.42 14.46 14.62 14.35 12.18 12.05
Accounts Payable Turnover		 17.71 11.30 18.44 18.72 13.34 10.05 16.29 18.38 14.00 10.47 15.85
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 29.89 37.77 36.12 26.20 32.04 42.39 39.07 24.56 29.86 47.01 47.12
Days Payable Outstanding (DPO)		 20.61 32.31 19.79 19.50 27.36 36.33 22.41 19.86 26.07 34.85 23.03
Cash Conversion Cycle (CCC)		 9.29 5.46 16.33 6.70 4.68 6.06 16.66 4.70 3.79 12.16 24.09
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,642 1,506 1,786 1,571 1,654 1,849 2,249 2,007 1,916 2,065 2,546
Invested Capital Turnover		 7.74 7.98 6.36 6.83 6.88 6.71 5.55 6.45 6.50 5.63 4.58
Increase / (Decrease) in Invested Capital		 -906 -684 -701 -478 12 343 463 436 262 216 298
Enterprise Value (EV)		 2,116 2,135 2,409 1,943 2,027 1,857 2,347 1,892 2,090 2,612 3,703
Market Capitalization		 1,714 1,912 1,904 1,682 1,702 1,374 1,454 1,250 1,355 1,792 2,425
Book Value per Share		 $36.76 $38.01 $37.72 $38.49 $39.01 $40.10 $39.84 $39.91 $34.52 $36.79 $37.44
Tangible Book Value per Share		 $36.76 $31.69 $37.72 $38.49 $39.01 $34.31 $39.84 $39.91 $34.52 $31.13 $37.44
Total Capital		 2,060 2,150 2,070 2,101 2,108 2,411 2,468 2,358 1,997 2,163 2,619
Total Debt		 611 634 594 581 585 811 873 747 774 873 1,309
Total Long-Term Debt		 570 563 556 549 543 608 588 578 569 560 569
Net Debt		 193 -10 310 51 131 249 654 396 693 775 1,237
Capital Expenditures (CapEx)		 34 42 27 29 38 56 47 49 67 71 52
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 743 597 884 666 742 760 1,161 913 754 905 1,354
Debt-free Net Working Capital (DFNWC)		 1,161 1,241 1,168 1,196 1,196 1,322 1,380 1,264 836 1,003 1,426
Net Working Capital (NWC)		 1,119 1,171 1,131 1,165 1,153 1,119 1,094 1,095 631 690 686
Net Nonoperating Expense (NNE)		 -5.56 -5.78 -4.54 1.29 -4.60 -1.04 6.48 -0.68 -28 -5.32 -16
Net Nonoperating Obligations (NNO)		 193 -10 310 51 131 249 654 396 693 775 1,237
Total Depreciation and Amortization (D&A)		 31 31 31 30 30 36 34 33 33 33 34
Debt-free, Cash-free Net Working Capital to Revenue		 4.58% 4.05% 6.51% 5.39% 6.54% 6.75% 10.36% 7.91% 6.51% 8.22% 12.34%
Debt-free Net Working Capital to Revenue		 7.16% 8.42% 8.60% 9.68% 10.54% 11.74% 12.32% 10.95% 7.21% 9.11% 12.99%
Net Working Capital to Revenue		 6.90% 7.94% 8.32% 9.42% 10.16% 9.94% 9.77% 9.49% 5.44% 6.27% 6.25%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.29 $1.52 $0.16 $1.06 $0.80 $1.33 $0.01 $0.23 $0.59 $1.98 $0.98
Adjusted Weighted Average Basic Shares Outstanding		 33.75M 33.72M 33.93M 34.06M 34.07M 34.03M 34.10M 34.20M 34.01M 34.04M 33.96M
Adjusted Diluted Earnings per Share		 $0.28 $1.49 $0.16 $1.05 $0.80 $1.31 $0.01 $0.23 $0.59 $1.96 $0.97
Adjusted Weighted Average Diluted Shares Outstanding		 34.27M 34.38M 34.24M 34.34M 34.36M 34.32M 34.32M 34.30M 34.18M 34.34M 34.16M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 33.75M 33.83M 34.05M 34.07M 34.07M 34.03M 34.19M 34.21M 33.84M 33.88M 34.05M
Normalized Net Operating Profit after Tax (NOPAT)		 25 73 8.13 54 47 53 4.98 16 -1.18 66 14
Normalized NOPAT Margin		 0.69% 2.26% 0.30% 1.92% 1.79% 1.70% 0.19% 0.51% -0.04% 2.59% 0.52%
Pre Tax Income Margin		 1.06% 2.86% 0.51% 2.05% 2.37% 2.15% 0.12% 0.79% 0.97% 3.45% 1.29%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 5.69 12.33 3.14 9.67 8.44 7.55 1.25 3.16 3.47 8.24 3.01
NOPAT to Interest Expense		 3.05 8.97 1.25 8.13 5.60 5.17 0.90 1.40 -0.16 5.44 0.82
EBIT Less CapEx to Interest Expense		 1.57 7.18 -0.96 5.35 3.91 2.10 -2.31 -1.09 -2.91 2.38 -0.06
NOPAT Less CapEx to Interest Expense		 -1.07 3.82 -2.86 3.80 1.08 -0.28 -2.65 -2.85 -6.54 -0.43 -2.25
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 114.76% 54.17% 52.35% 54.75% 59.22% 75.32% 51.32% 65.06% 73.63% 50.81% 42.41%
Augmented Payout Ratio		 114.76% 55.49% 52.35% 54.75% 59.22% 76.66% 51.32% 65.06% 506.28% 63.69% 42.41%

Financials Breakdown Chart

Key Financial Trends

Here’s a concise, investor-focused read on Andersons, Inc. (ANDE) using the last four years of quarterly statements provided. The notes below summarize trends across the income statement, cash flow, and balance sheet, highlighting what may matter most to retail investors.

  • Net income to common shareholders in Q4 2025 rose to $67.434 million, up from $45.090 million in Q4 2024 (roughly +50% year over year).
  • Cash flow from continuing operating activities was strong in the middle of 2025, with $299.32 million in Q2 2025 and $233.88 million in Q3 2025, helping aggregate net cash from continuing operating activities of about $177 million for the four quarters in 2025.
  • Q4 2025 diluted earnings per share (EPS) was $1.96 and basic EPS was $1.98, underscoring ongoing profitability at the quarter level.
  • Net change in cash and equivalents for Q4 2025 was $16.65 million (positive), contributing to a modest quarterly cash uptick despite other cash outflows.
  • Gross margin for Q4 2025 improved to about 9.1% (gross profit of $231.49 million on $2.54 billion revenue), versus about 6.8% in Q4 2024, signaling better pricing or cost management in that quarter.
  • Balance-sheet snapshot around mid-2025 shows total assets near $3.30 billion with cash around $81.6 million and total equity near $1.18 billion, indicating a solid liquidity and equity base despite quarter-to-quarter fluctuations.
  • Investing activity remained sizable in 2025, with quarterly purchases of property, plant & equipment (PPE) totaling roughly $46–71 million per quarter, contributing to annual PPE cash outflows in the low-to-mid $200 millions range.
  • Net cash from financing activities was negative for most of 2025 (e.g., Q3: −$450.97 million; Q2: −$137.45 million; Q1: +$50.45 million; Q4: +$90.83 million), leading to an overall 2025 financing cash outflow of about −$447 million and implying ongoing leverage or shareholder-return activity.
  • Long-term debt remained a material liability (around $569 million in Q3 2025), contributing to elevated total liabilities and periodic financing outflows during 2025.
  • Revenue volatility persists: Q4 2025 operating revenue was $2.536 billion, down from Q4 2024’s $3.123 billion, highlighting sensitivity to market cycles despite improving margins in the latest quarter.
05/26/26 11:37 PM ETAI Generated. May Contain Errors.

Andersons Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Andersons' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Andersons' net income appears to be on an upward trend, with a most recent value of $119.30 million in 2025, falling from -$11.32 million in 2015. The previous period was $170.70 million in 2024. See Andersons' forecast for analyst expectations on what's next for the company.

Andersons' total operating income in 2025 was $110.29 million, based on the following breakdown:
  • Total Gross Profit: $713.65 million
  • Total Operating Expenses: $603.36 million

Over the last 10 years, Andersons' total revenue changed from $4.20 billion in 2015 to $11.01 billion in 2025, a change of 162.2%.

Andersons' total liabilities were at $2.42 billion at the end of 2025, a 3.9% decrease from 2024, and a 53.8% increase since 2015.

In the past 10 years, Andersons' cash and equivalents has ranged from $22.59 million in 2018 to $643.85 million in 2023, and is currently $98.28 million as of their latest financial filing in 2025.

Over the last 10 years, Andersons' book value per share changed from 27.29 in 2015 to 36.79 in 2025, a change of 34.8%.


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Financial statements for NASDAQ:ANDE last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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