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The Andersons, Inc. (ANDE) 10-Year Financial Performance & Capital Metrics

ANDE • • Industrial / General
Consumer DefensiveFood DistributionAgricultural & Commodity TradingGrain & Commodity Merchants
AboutThe Andersons, Inc., an agriculture company, operates in trade, renewables, and plant nutrient sectors in the United States and internationally. The company's Trade segment operates grain elevators; stores commodities; and provides grain marketing, risk management, and origination services to its customers and affiliated ethanol facilities. This segment also engages in the commodity merchandising business, as well as offers logistics for physical commodities, such as whole grains, grain products, feed ingredients, domestic fuel products, and other agricultural commodities. Its Renewables segment produces, purchases, and sells ethanol, and co-products, as well as offers facility operations, risk management, and ethanol and coproducts marketing services to the ethanol plants it invests in and operates. The company's Plant Nutrient segment manufactures, distributes, and retails agricultural and related plant nutrients, corncob-based products, and pelleted lime and gypsum products; and crop nutrients, crop protection chemicals, and seed products, as well as provides application and agronomic services to commercial and family farmers. It also offers warehousing, packaging, and manufacturing services to nutrient producers and other distributors; and manufactures and distributes various industrial products, such as nitrogen reagents for air pollution control systems that are used in coal-fired power plants, and water treatment and dust abatement products. In addition, this segment produces corncob-based products for laboratory animal bedding and private-label cat litter, as well as absorbents, blast cleaners, carriers, and polishers; professional lawn care products for golf course and turf care markets; fertilizer and weed and pest control products; pelleted lime, gypsum, and value add soil amendments; and specialty ag liquids, seed starters, zinc, and industrial liquids. The Andersons, Inc. was founded in 1947 and is based in Maumee, Ohio.Show more
  • Revenue $11.26B -23.7%
  • EBITDA $314M -32.5%
  • Net Income $114M +12.7%
  • EPS (Diluted) 3.32 +12.9%
  • Gross Margin 6.11% +8.2%
  • EBITDA Margin 2.79% -11.5%
  • Operating Margin 1.65% -28.2%
  • Net Margin 1.01% +47.6%
  • ROE 7.32% +6.5%
  • ROIC 8.09% -40.3%
  • Debt/Equity 0.55 +24.8%
  • Interest Coverage 5.86 -19.2%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 44.2%
  • ✓22 consecutive years of dividend growth
  • ✓Momentum leader: RS Rating 81 (top 19%)
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Trading near 52-week high
  • ✓Trading at only 1.3x book value

✗Weaknesses

  • ✗Thin 5Y average net margin of 0.7%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.67%
5Y6.62%
3Y-3.72%
TTM2.19%

Profit (Net Income) CAGR

10Y0.38%
5Y44.17%
3Y3.12%
TTM-38.91%

EPS CAGR

10Y-1.44%
5Y43.27%
3Y2.64%
TTM-38.88%

ROCE

10Y Avg4.54%
5Y Avg7.09%
3Y Avg11.2%
Latest8.08%

Peer Comparison

Grain & Commodity Merchants
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
ANDEThe Andersons, Inc.1.98B58.4717.61-23.68%0.63%6%9.21%0.55

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+4.2B3.92B3.69B3.05B8.17B8.06B12.61B17.33B14.75B11.26B
Revenue Growth %-0.06%-0.07%-0.06%-0.17%1.68%-0.01%0.56%0.37%-0.15%-0.24%
Cost of Goods Sold+3.89B3.56B3.37B2.75B7.65B7.66B12.17B16.65B13.92B10.57B
COGS % of Revenue0.93%0.91%0.91%0.9%0.94%0.95%0.96%0.96%0.94%0.94%
Gross Profit+313.3M360.52M313.38M297.77M515.95M402.76M441.64M670.63M831.94M687.31M
Gross Margin %0.07%0.09%0.09%0.1%0.06%0.05%0.04%0.04%0.06%0.06%
Gross Profit Growth %-0.05%0.15%-0.13%-0.05%0.73%-0.22%0.1%0.52%0.24%-0.17%
Operating Expenses+338.11M318.39M287.93M251.37M436.84M377.69M423.75M466.56M492.26M501.22M
OpEx % of Revenue0.08%0.08%0.08%0.08%0.05%0.05%0.03%0.03%0.03%0.04%
Selling, General & Admin338.11M318.39M287.93M251.37M436.84M377.69M423.75M466.56M492.26M501.22M
SG&A % of Revenue0.08%0.08%0.08%0.08%0.05%0.05%0.03%0.03%0.03%0.04%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses0000000000
Operating Income+-24.82M42.12M25.45M46.4M79.11M25.07M17.89M204.07M339.68M186.09M
Operating Margin %-0.01%0.01%0.01%0.02%0.01%0%0%0.01%0.02%0.02%
Operating Income Growth %-3.32%2.7%-0.4%0.82%0.71%-0.68%-0.29%10.41%0.66%-0.45%
EBITDA+53.64M126.45M111.86M136.69M225.28M213.7M196.82M338.82M464.79M313.89M
EBITDA Margin %0.01%0.03%0.03%0.04%0.03%0.03%0.02%0.02%0.03%0.03%
EBITDA Growth %-0.26%1.36%-0.12%0.22%0.65%-0.05%-0.08%0.72%0.37%-0.32%
D&A (Non-Cash Add-back)78.46M84.33M86.41M90.3M146.17M188.64M178.93M134.74M125.11M127.8M
EBIT7.44M43.1M2.33M82.28M87.53M6.78M199.34M251.55M216.43M231.95M
Net Interest Income+-20.07M-21.12M-21.57M-27.85M-59.42M-33.78M-35.76M-53.85M-33.86M-10.67M
Interest Income0000001.53M3M13.01M21.09M
Interest Expense20.07M21.12M21.57M27.85M59.42M33.78M37.29M56.85M46.87M31.76M
Other Income/Expense13.25M-20.74M-45.98M6.76M-51M-52.15M142.88M-9.49M-170.12M14.67M
Pretax Income+-11.56M21.38M-20.52M53.16M28.11M-27.08M160.77M194.58M169.56M200.76M
Pretax Margin %-0%0.01%-0.01%0.02%0%-0%0.01%0.01%0.01%0.02%
Income Tax+-242K6.91M-61.82M11.93M13.05M-10.91M29.23M39.63M37.03M30.06M
Effective Tax Rate %1.13%0.54%-2.01%0.78%0.65%-0.28%0.65%0.67%0.6%0.57%
Net Income+-13.07M11.59M41.2M41.48M18.31M7.71M103.99M131.08M101.19M114.01M
Net Margin %-0%0%0.01%0.01%0%0%0.01%0.01%0.01%0.01%
Net Income Growth %-1.12%1.89%2.55%0.01%-0.56%-0.58%12.49%0.26%-0.23%0.13%
Net Income (Continuing)-11.32M14.47M42.61M41.23M15.06M-16.17M131.54M154.95M132.53M170.7M
Discontinued Operations000001.96M4.32M12.03M00
Minority Interest19.48M16.34M7.7M46.44M222.04M198.77M235.28M231.17M233.49M233.65M
EPS (Diluted)+-0.460.411.461.460.550.233.073.812.943.32
EPS Growth %-1.12%1.89%2.56%0%-0.62%-0.58%12.35%0.24%-0.23%0.13%
EPS (Basic)-0.460.411.461.470.560.233.123.893.003.35
Diluted Shares Outstanding28.41M28.28M28.22M28.41M32.69M33.52M33.85M34.4M34.42M34.34M
Basic Shares Outstanding28.29M28.19M28.13M28.22M32.69M33.52M33.28M33.7M33.73M34.03M
Dividend Payout Ratio-1.5%0.44%0.45%1.21%2.98%0.23%0.19%0.25%0.23%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+1.13B1.06B999.14M1.02B1.95B2.42B3.37B3.47B2.81B2.85B
Cash & Short-Term Investments63.75M62.63M34.92M22.59M54.9M29.12M216.44M115.27M643.85M561.77M
Cash Only63.75M62.63M34.92M22.59M54.9M29.12M216.44M115.27M643.85M561.77M
Short-Term Investments0000000000
Accounts Receivable170.91M194.7M183.24M207.28M536.37M641.33M835.18M1.25B762.55M764.55M
Days Sales Outstanding14.8618.1118.1424.8423.9629.0324.1726.3118.8724.79
Inventory747.4M682.75M648.7M690.8M1.17B1.29B1.81B1.73B1.17B1.29B
Days Inventory Outstanding70.2269.9270.291.7755.8261.654.4237.9530.644.43
Other Current Assets147.46M118.05M132.35M102.52M183.54M452.89M506.17M370.08M233.86M237.15M
Total Non-Current Assets+1.23B1.17B1.16B1.37B1.96B1.86B1.2B1.14B1.05B1.27B
Property, Plant & Equipment844.71M777.25M808.12M998.5M1.6B893.7M838.17M824.62M747.6M972.78M
Fixed Asset Turnover4.97x5.05x4.56x3.05x5.11x9.02x15.05x21.01x19.73x11.57x
Goodwill63.93M63.93M6.02M6.02M135.36M131.54M129.34M129.34M127.86M127.86M
Intangible Assets120.24M106.1M112.89M99.14M175.31M140.08M117.14M100.91M85.58M69.34M
Long-Term Investments242.11M216.93M223.24M242.33M23.86M00000
Other Non-Current Assets-48.18M180.44M-108.86M-107.27M21.75M690.39M112.24M87.17M87.01M101.06M
Total Assets+2.36B2.23B2.16B2.39B3.9B4.27B4.57B4.61B3.86B4.12B
Asset Turnover1.78x1.76x1.70x1.27x2.09x1.89x2.76x3.76x3.83x2.73x
Asset Growth %-0%-0.05%-0.03%0.11%0.63%0.1%0.07%0.01%-0.16%0.07%
Total Current Liabilities+888.04M799.78M738.72M833.35M1.44B1.93B2.46B2.52B1.64B1.73B
Accounts Payable668.79M581.83M503.57M462.54M873.08M954.81M1.2B1.42B1.06B1.05B
Days Payables Outstanding62.8359.5854.4961.4441.6345.4935.9731.227.6836.17
Short-Term Debt44.78M76.55M76.2M226.59M209.93M473.07M534.05M382.73M70.67M202.75M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities37.39M23.17M29.65M32.65M29.31M172.27M142.29M98.52M90.85M59.77M
Current Ratio1.27x1.32x1.35x1.23x1.35x1.25x1.37x1.37x1.72x1.65x
Quick Ratio0.43x0.47x0.47x0.40x0.54x0.58x0.63x0.69x1.00x0.90x
Cash Conversion Cycle22.2428.4433.8555.1738.1545.1442.6233.0621.7933.05
Total Non-Current Liabilities+687.33M642.38M601.98M681.89M1.27B1.18B797.59M656.9M702.29M790.31M
Long-Term Debt436.21M397.06M418.34M496.19M1.02B886.45M600.49M492.52M562.96M608.15M
Capital Lease Obligations014M24.3M051.09M19.84M31.32M37.15M31.66M65.31M
Deferred Tax Liabilities186.07M182.11M122.97M130.09M146.16M170.15M71.13M64.08M58.58M55.01M
Other Non-Current Liabilities65.04M49.2M158.1M55.62M51.67M103.34M94.65M63.16M49.09M61.84M
Total Liabilities1.58B1.44B1.34B1.52B2.71B3.11B3.26B3.18B2.34B2.52B
Total Debt+480.98M473.61M494.54M722.78M1.29B1.38B1.17B912.39M665.29M876.22M
Net Debt417.23M410.98M459.63M700.18M1.24B1.35B949.41M797.13M21.43M314.44M
Debt / Equity0.60x0.59x0.60x0.78x1.08x1.19x0.89x0.64x0.44x0.55x
Debt / EBITDA8.97x3.75x4.42x5.29x5.75x6.45x5.92x2.69x1.43x2.79x
Net Debt / EBITDA7.78x3.25x4.11x5.12x5.50x6.32x4.82x2.35x0.05x1.00x
Interest Coverage-1.24x1.99x1.18x1.67x1.33x0.74x0.48x3.59x7.25x5.86x
Total Equity+803.22M807.03M829.29M923.21M1.2B1.16B1.31B1.43B1.52B1.6B
Equity Growth %-0.05%0%0.03%0.11%0.3%-0.03%0.13%0.09%0.06%0.06%
Book Value per Share28.2828.5429.3932.4936.5734.6238.6341.5644.0646.59
Total Shareholders' Equity783.74M790.7M821.59M876.76M973.61M961.89M1.07B1.2B1.28B1.37B
Common Stock96K96K96K96K137K138K140K142K142K142K
Retained Earnings615.15M609.21M633.5M647.52M642.69M626.08M702.76M807.77M882.94M970.71M
Treasury Stock-52.9M-45.38M-40.31M-35.3M-7.34M-966K-263K-15.04M-10.26M-2.86M
Accumulated OCI-20.94M-12.47M-2.7M-6.39M-7.23M-12.08M1.19M20.48M22.86M12.59M
Minority Interest19.48M16.34M7.7M46.44M222.04M198.77M235.28M231.17M233.49M233.65M

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+154.13M39.59M75.28M-35.52M348.56M-74.43M-51.05M287.12M946.75M331.51M
Operating CF Margin %0.04%0.01%0.02%-0.01%0.04%-0.01%-0%0.02%0.06%0.03%
Operating CF Growth %16.3%-0.74%0.9%-1.47%10.81%-1.21%0.31%6.62%2.3%-0.65%
Net Income-11.32M14.47M42.61M41.23M15.06M-14.21M135.87M166.98M101.19M170.7M
Depreciation & Amortization78.46M84.33M86.41M90.3M146.17M188.64M178.93M134.74M125.11M127.8M
Stock-Based Compensation1.9M6.99M6.1M6.62M16.23M10.18M11.04M11.19M12.86M13.63M
Deferred Taxes27.28M6.03M-63.23M11.02M5.11M26.39M-104.62M-20.01M-1.6M-2.91M
Other Non-Cash Items71.9M11.31M37.05M-32.58M10.03M27.47M-4.42M22.13M113.67M14.04M
Working Capital Changes-14.08M-83.53M-33.65M-152.1M155.96M-312.89M-267.85M-27.92M595.52M8.24M
Change in Receivables45.06M-26.43M9.78M-24.79M1.49M-128.5M-184M-391.4M468.97M35.78M
Change in Inventory73.35M28.16M16.14M-44.06M-1.58M-139.5M-528.07M56.86M572.24M87.91M
Change in Payables-146.58M-75.28M-79.86M-66.64M134.34M70.28M0230.29M-563.72M-102.4M
Cash from Investing+-238.48M-28.22M-113.49M-185.99M-325.03M-86.76M487.25M-52.9M-153.88M-163.07M
Capital Expenditures-187.5M-163.01M-177.62M-309.58M-270.48M-104.89M-81.81M-139.74M-150.44M-149.19M
CapEx % of Revenue0.04%0.04%0.05%0.1%0.03%0.01%0.01%0.01%0.01%0.01%
Acquisitions----------
Investments----------
Other Investing76.89M113.11M72.25M126.92M31.43M21.19M568.59M104.02M12.67M15.29M
Cash from Financing+33.39M-12.49M10.5M209.19M8.71M136.3M-248.77M-334.73M-263.99M-250.36M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-15.92M-17.36M-18.15M-18.64M-22.12M-23M-23.75M-24.61M-25.37M-26.27M
Share Repurchases----------
Other Financing-5.89M5.67M-3.47M33.91M-4.46M-7.87M8.61M-46.08M-53.56M-113.25M
Net Change in Cash----------
Free Cash Flow+-33.37M-123.42M-102.34M-345.1M78.08M-179.32M-132.85M147.38M796.31M182.32M
FCF Margin %-0.01%-0.03%-0.03%-0.11%0.01%-0.02%-0.01%0.01%0.05%0.02%
FCF Growth %0.79%-2.7%0.17%-2.37%1.23%-3.3%0.26%2.11%4.4%-0.77%
FCF per Share-1.17-4.36-3.63-12.152.39-5.35-3.924.2823.145.31
FCF Conversion (FCF/Net Income)-11.80x3.41x1.83x-0.86x19.04x-9.65x-0.49x2.19x9.36x2.91x
Interest Paid0000000000
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-1.58%1.44%5.04%4.73%1.73%0.65%8.43%9.58%6.87%7.32%
Return on Invested Capital (ROIC)-1.6%2.59%1.52%2.39%2.92%0.76%0.56%6.83%13.53%8.09%
Gross Margin7.46%9.19%8.5%9.78%6.32%4.99%3.5%3.87%5.64%6.11%
Net Margin-0.31%0.3%1.12%1.36%0.22%0.1%0.82%0.76%0.69%1.01%
Debt / Equity0.60x0.59x0.60x0.78x1.08x1.19x0.89x0.64x0.44x0.55x
Interest Coverage-1.24x1.99x1.18x1.67x1.33x0.74x0.48x3.59x7.25x5.86x
FCF Conversion-11.80x3.41x1.83x-0.86x19.04x-9.65x-0.49x2.19x9.36x2.91x
Revenue Growth-6.13%-6.52%-6.08%-17.39%168.28%-1.29%56.39%37.37%-14.86%-23.68%

Revenue by Segment

2015201620172018201920202021202220232024
Trade------9.77B12.5B688.81M7.62B
Trade Growth-------27.96%-94.49%1006.56%
Renewables------2.44B3.18B1.57B2.8B
Renewables Growth-------30.23%-50.62%78.53%
Plant Nutrient682K470K241K690.54M1.17M662.96M866.89M1.1B943.4M833.14M
Plant Nutrient Growth--31.09%-48.72%286429.46%-99.83%56757.55%30.76%26.81%-14.18%-11.69%
Ethanol-544.56M708.06M743.69M968.78M1.26B----
Ethanol Growth--30.03%5.03%30.27%30.09%----
Rail170.85M1.4M1.21M1.21M5.25M143.82M----
Rail Growth--99.18%-13.30%-0.66%335.27%2641.96%----
Grain2.48B1.64M761K2.75M------
Grain Growth--99.93%-53.54%260.84%------
Retail-134.23M47.87M-------
Retail Growth---64.34%-------

Revenue by Geography

2015201620172018201920202021202220232024
UNITED STATES---------8.1B
UNITED STATES Growth----------
Other Countries---------1.94B
Other Countries Growth----------
CANADA11M13.2M13.3M10.7M-----517.13M
CANADA Growth-20.00%0.76%-19.55%------
MEXICO300K--------392.14M
MEXICO Growth----------
SWITZERLAND---------176.36M
SWITZERLAND Growth----------
EGYPT---------124.91M
EGYPT Growth----------

Frequently Asked Questions

Valuation & Price

The Andersons, Inc. (ANDE) has a price-to-earnings (P/E) ratio of 17.6x. This is roughly in line with market averages.

Growth & Financials

The Andersons, Inc. (ANDE) reported $11.60B in revenue for fiscal year 2024. This represents a 161% increase from $4.45B in 2011.

The Andersons, Inc. (ANDE) saw revenue decline by 23.7% over the past year.

Yes, The Andersons, Inc. (ANDE) is profitable, generating $73.4M in net income for fiscal year 2024 (1.0% net margin).

Dividend & Returns

Yes, The Andersons, Inc. (ANDE) pays a dividend with a yield of 1.31%. This makes it attractive for income-focused investors.

The Andersons, Inc. (ANDE) has a return on equity (ROE) of 7.3%. This is below average, suggesting room for improvement.

The Andersons, Inc. (ANDE) generated $233.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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