Ingles Markets, Incorporated (IMKTA) 10-Year Financial Performance & Capital Metrics

IMKTA • • Industrial / General

Consumer DefensiveGrocery StoresTraditional Supermarket ChainsRegional Supermarket Operators

AboutIngles Markets, Incorporated operates a chain of supermarkets in the southeast United States. It offers food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, which include fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items. The company also owns and operates a milk processing and packaging plant that supplies organic milk, fruit juices, and bottled water products to other retailers, food service distributors, and grocery warehouses. In addition, it provides home meal replacement items, delicatessens, bakeries, floral departments, and greeting cards, as well as broad selections of local organic, beverage, and health-related items. As of September 25, 2021, the company operated 189 supermarkets under the brand name Ingles, and nine supermarkets under the brand name Sav-Mor in western North Carolina, western South Carolina, northern Georgia, eastern Tennessee, southwestern Virginia, and northeastern Alabama, as well as 111 pharmacies and 107 fuel stations. Ingles Markets, Incorporated was founded in 1963 and is headquartered in Asheville, North Carolina.Show more

Revenue $5.33B -5.4%
EBITDA $238M -11.4%
Net Income $84M -20.8%
EPS (Diluted) 4.40 -20.9%
Gross Margin 23.89% +3.6%
EBITDA Margin 4.46% -6.3%
Operating Margin 2.16% -17.2%
Net Margin 1.57% -16.3%
ROE 5.29% -24.7%
ROIC 4.87% -23.2%
Debt/Equity 0.34 -7.9%
Interest Coverage 5.84 -13.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓11 consecutive years of dividend growth
✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.8x book value
✓Efficient asset utilization: 2.1x turnover

✗Weaknesses

✗Profits declining 14.1% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.51%

5Y2.96%

3Y-2.07%

TTM-5.42%

Profit (Net Income) CAGR

10Y3.48%

5Y-14.09%

3Y-32.58%

TTM-20.8%

EPS CAGR

10Y4.15%

5Y-12.98%

3Y-32.58%

TTM-8.65%

ROCE

10Y Avg12.11%

5Y Avg13.59%

3Y Avg8.72%

Latest5.15%

Peer Comparison

Regional Supermarket Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
WMKWeis Markets, Inc.	1.7B	68.76	16.81	2.02%	2.04%	7.44%	1.54%	0.12
IMKTAIngles Markets, Incorporated	1.03B	70.85	16.10	-5.42%	1.57%	5.17%	3.84%	0.34
VLGEAVillage Super Market, Inc.	376.35M	35.41	9.27	3.76%	2.37%	11.09%	9.16%	0.69

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	3.79B	4B	4.09B	4.2B	4.61B	4.99B	5.68B	5.89B	5.64B	5.33B
Revenue Growth %	0%	0.05%	0.02%	0.03%	0.1%	0.08%	0.14%	0.04%	-0.04%	-0.05%
Cost of Goods Sold+	2.87B	3.04B	3.11B	3.18B	3.41B	3.68B	4.26B	4.49B	4.34B	4.06B
COGS % of Revenue	0.76%	0.76%	0.76%	0.76%	0.74%	0.74%	0.75%	0.76%	0.77%	0.76%
Gross Profit+	924.41M	963.59M	980.17M	1.02B	1.2B	1.3B	1.42B	1.4B	1.3B	1.27B
Gross Margin %	0.24%	0.24%	0.24%	0.24%	0.26%	0.26%	0.25%	0.24%	0.23%	0.24%
Gross Profit Growth %	0.03%	0.04%	0.02%	0.04%	0.17%	0.09%	0.09%	-0.01%	-0.07%	-0.02%
Operating Expenses+	795.8M	835.68M	855.35M	869.81M	917.31M	953.38M	1.04B	1.11B	1.15B	1.16B
OpEx % of Revenue	0.21%	0.21%	0.21%	0.21%	0.2%	0.19%	0.18%	0.19%	0.2%	0.22%
Selling, General & Admin	794.59M	837.14M	856.07M	873.86M	921.75M	11.1M	10.9M	10.6M	9.7M	7.4M
SG&A % of Revenue	0.21%	0.21%	0.21%	0.21%	0.2%	0%	0%	0%	0%	0%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.21M	-1.46M	-728.39K	-4.05M	-4.43M	942.28M	1.03B	1.1B	1.14B	1.15B
Operating Income+	128.6M	127.91M	124.82M	152.19M	280.94M	350.06M	376.93M	292.3M	147.14M	115.2M
Operating Margin %	0.03%	0.03%	0.03%	0.04%	0.06%	0.07%	0.07%	0.05%	0.03%	0.02%
Operating Income Growth %	-0.08%	-0.01%	-0.02%	0.22%	0.85%	0.25%	0.08%	-0.22%	-0.5%	-0.22%
EBITDA+	235.19M	238.84M	237.91M	264.71M	397.22M	467.16M	494.73M	408.28M	268.77M	238.09M
EBITDA Margin %	0.06%	0.06%	0.06%	0.06%	0.09%	0.09%	0.09%	0.07%	0.05%	0.04%
EBITDA Growth %	-0.03%	0.02%	-0%	0.11%	0.5%	0.18%	0.06%	-0.17%	-0.34%	-0.11%
D&A (Non-Cash Add-back)	106.59M	110.93M	113.08M	112.52M	116.28M	117.1M	117.8M	115.98M	121.62M	122.89M
EBIT	130.96M	131.72M	127.89M	154.01M	275.57M	351.95M	382.78M	300.57M	161.36M	129.65M
Net Interest Income+	-46.33M	-47.46M	-47.57M	-47.41M	-40.53M	-24.33M	-21.51M	-22.07M	-21.86M	-19.71M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	46.33M	47.46M	47.57M	47.41M	40.53M	24.33M	21.51M	22.07M	21.86M	19.71M
Other Income/Expense	-43.97M	-43.65M	-44.51M	-45.6M	-45.89M	-22.44M	-15.66M	-13.8M	-7.64M	-5.26M
Pretax Income+	84.63M	84.26M	80.32M	106.6M	235.04M	327.61M	361.27M	278.5M	139.5M	109.94M
Pretax Margin %	0.02%	0.02%	0.02%	0.03%	0.05%	0.07%	0.06%	0.05%	0.02%	0.02%
Income Tax+	30.45M	30.39M	-17.05M	25.02M	56.44M	77.88M	88.51M	67.69M	33.96M	26.34M
Effective Tax Rate %	0.64%	0.64%	1.21%	0.77%	0.76%	0.76%	0.76%	0.76%	0.76%	0.76%
Net Income+	54.19M	53.87M	97.36M	81.58M	178.6M	249.73M	272.76M	210.81M	105.54M	83.59M
Net Margin %	0.01%	0.01%	0.02%	0.02%	0.04%	0.05%	0.05%	0.04%	0.02%	0.02%
Net Income Growth %	-0.09%	-0.01%	0.81%	-0.16%	1.19%	0.4%	0.09%	-0.23%	-0.5%	-0.21%
Net Income (Continuing)	54.19M	53.87M	97.36M	81.58M	178.6M	249.73M	272.76M	210.81M	105.54M	83.59M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	2.67	2.66	4.81	4.03	8.82	12.73	14.36	11.10	5.56	4.40
EPS Growth %	-0.09%	-0%	0.81%	-0.16%	1.19%	0.44%	0.13%	-0.23%	-0.5%	-0.21%
EPS (Basic)	2.67	2.66	4.94	4.14	9.06	13.06	14.69	11.35	5.68	4.50
Diluted Shares Outstanding	20.26M	20.26M	20.26M	20.26M	20.26M	19.61M	18.99M	18.99M	18.99M	18.99M
Basic Shares Outstanding	19.69M	19.69M	19.7M	19.71M	19.71M	19.12M	18.57M	18.57M	18.59M	18.99M
Dividend Payout Ratio	0.24%	0.24%	0.13%	0.16%	0.07%	0.05%	0.04%	0.06%	0.12%	0.15%

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Current Assets+	418.49M	445.84M	496.74M	497.1M	470.19M	575.44M	838.13M	952.56M	925.55M	975.56M
Cash & Short-Term Investments	5.68M	23.91M	10.54M	42.13M	6.9M	75.31M	267.2M	328.54M	353.69M	366.25M
Cash Only	5.68M	23.91M	10.54M	42.13M	6.9M	70.31M	267.2M	328.54M	353.69M	366.25M
Short-Term Investments	0	0	0	0	0	5M	0	0	0	0
Accounts Receivable	61.74M	66.33M	70.06M	71.95M	81.36M	95.08M	97.16M	107.57M	78.27M	106.36M
Days Sales Outstanding	5.94	6.05	6.25	6.25	6.44	6.96	6.24	6.66	5.07	7.28
Inventory	343.88M	349.33M	372.2M	374.13M	366.82M	389.95M	457.95M	493.86M	462.08M	482.98M
Days Inventory Outstanding	43.73	41.96	43.65	42.94	39.24	38.63	39.21	40.17	38.86	43.42
Other Current Assets	7.19M	6.27M	43.95M	8.9M	15.1M	15.09M	15.83M	22.59M	31.51M	19.98M
Total Non-Current Assets+	1.27B	1.29B	1.33B	1.37B	1.43B	1.44B	1.46B	1.52B	1.6B	1.59B
Property, Plant & Equipment	1.25B	1.27B	1.3B	1.34B	1.4B	1.41B	1.41B	1.47B	1.55B	1.54B
Fixed Asset Turnover	3.04x	3.16x	3.14x	3.13x	3.29x	3.54x	4.02x	4.00x	3.63x	3.46x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	20.11M	22.35M	25.12M	25.96M	28.03M	31.99M	44.75M	49.81M	48.38M	50.29M
Total Assets+	1.69B	1.73B	1.82B	1.87B	1.9B	2.02B	2.3B	2.47B	2.53B	2.57B
Asset Turnover	2.25x	2.31x	2.24x	2.25x	2.43x	2.47x	2.47x	2.38x	2.23x	2.08x
Asset Growth %	0.02%	0.03%	0.05%	0.02%	0.02%	0.06%	0.14%	0.08%	0.02%	0.02%
Total Current Liabilities+	241.6M	245.56M	260.14M	247.58M	323.81M	306.1M	333.78M	330.53M	320.62M	302.9M
Accounts Payable	155.29M	150.9M	165.17M	151.33M	204.11M	189.43M	213.39M	204.04M	198.33M	179.23M
Days Payables Outstanding	19.75	18.12	19.37	17.37	21.83	18.77	18.27	16.59	16.68	16.11
Short-Term Debt	10M	12.21M	12.85M	12.6M	19.31M	17.6M	17.62M	17.53M	17.52M	17.48M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	11.74M	10.28M	10.34M	9.99M	10.63M	14.01M	13.91M	14.86M	16.96M	18.08M
Current Ratio	1.73x	1.82x	1.91x	2.01x	1.45x	1.88x	2.51x	2.88x	2.89x	3.22x
Quick Ratio	0.31x	0.39x	0.48x	0.50x	0.32x	0.61x	1.14x	1.39x	1.45x	1.63x
Cash Conversion Cycle	29.92	29.88	30.52	31.82	23.85	26.82	27.18	30.23	27.25	34.59
Total Non-Current Liabilities+	974.7M	976.69M	969.36M	957.03M	756.16M	728.99M	702.14M	684.34M	661.51M	647.22M
Long-Term Debt	866.47M	865.66M	852.74M	839.64M	586.2M	571.91M	554.29M	532.63M	515.1M	497.29M
Capital Lease Obligations	0	0	0	0	40.96M	33.89M	32.79M	37.08M	26.66M	23.22M
Deferred Tax Liabilities	71.45M	69.92M	74.46M	75.5M	73.33M	72.77M	73.58M	67.19M	63.77M	65.04M
Other Non-Current Liabilities	36.78M	41.11M	42.16M	41.89M	55.66M	50.42M	41.48M	47.44M	55.98M	61.67M
Total Liabilities	1.22B	1.22B	1.23B	1.2B	1.08B	1.04B	1.04B	1.01B	982.13M	950.12M
Total Debt+	876.47M	877.87M	865.59M	852.24M	654.85M	632.04M	612.5M	595.47M	564.96M	543.67M
Net Debt	870.79M	853.96M	855.05M	810.11M	647.95M	561.72M	345.3M	266.93M	211.27M	177.42M
Debt / Equity	1.86x	1.72x	1.45x	1.29x	0.80x	0.64x	0.49x	0.41x	0.37x	0.34x
Debt / EBITDA	3.73x	3.68x	3.64x	3.22x	1.65x	1.35x	1.24x	1.46x	2.10x	2.28x
Net Debt / EBITDA	3.70x	3.58x	3.59x	3.06x	1.63x	1.20x	0.70x	0.65x	0.79x	0.75x
Interest Coverage	2.78x	2.70x	2.62x	3.21x	6.93x	14.39x	17.53x	13.25x	6.73x	5.84x
Total Equity+	470.18M	511.05M	595.41M	662.72M	819.33M	983.26M	1.26B	1.46B	1.55B	1.62B
Equity Growth %	0.1%	0.09%	0.17%	0.11%	0.24%	0.2%	0.28%	0.16%	0.06%	0.05%
Book Value per Share	23.21	25.22	29.39	32.71	40.44	50.13	66.31	76.81	81.38	85.07
Total Shareholders' Equity	470.18M	511.05M	595.41M	662.72M	819.33M	983.26M	1.26B	1.46B	1.55B	1.62B
Common Stock	1.01M	1.01M	1.01M	1.01M	1.01M	949.72K	949.72K	949.72K	949.72K	949.72K
Retained Earnings	456.85M	497.73M	582.09M	650.66M	816.26M	985.73M	1.25B	1.44B	1.54B	1.61B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	-1.27M	-10.25M	-3.43M	12.41M	13.23M	6.74M	5.6M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	159.03M	156.34M	161.24M	211.5M	350.12M	306.3M	339.5M	266.41M	262.52M	154.1M
Operating CF Margin %	0.04%	0.04%	0.04%	0.05%	0.08%	0.06%	0.06%	0.05%	0.05%	0.03%
Operating CF Growth %	0.04%	-0.02%	0.03%	0.31%	0.66%	-0.13%	0.11%	-0.22%	-0.01%	-0.41%
Net Income	54.19M	53.87M	97.36M	81.58M	178.6M	249.73M	272.76M	210.81M	105.54M	83.59M
Depreciation & Amortization	106.59M	110.93M	113.08M	112.52M	116.28M	117.1M	117.8M	115.98M	121.62M	122.89M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	6.81M	-1.53M	4.54M	1.45M	737K	-2.77M	-4.31M	-6.66M	-1.33M	1.65M
Other Non-Cash Items	1.13M	95.64K	-798.32K	-4.31M	11.73M	-1.43M	6.31M	5.11M	32.11M	3.44M
Working Capital Changes	-9.68M	-7.03M	-52.95M	20.27M	42.77M	-56.34M	-53.06M	-58.83M	4.58M	-57.48M
Change in Receivables	4.55M	-4.59M	-3.73M	-1.89M	-9.41M	-13.72M	-2.08M	-10.41M	29.34M	-28.09M
Change in Inventory	-5.24M	-5.45M	-22.86M	-1.93M	7.3M	-23.13M	-67.99M	-35.91M	1.33M	-20.89M
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-136.88M	-125.36M	-148.15M	-152.79M	-117.35M	-127.98M	-111.99M	-170.1M	-206.18M	-109.94M
Capital Expenditures	-137.64M	-127.7M	-150.49M	-161.75M	-122.77M	-140.6M	-119.61M	-173.59M	-210.86M	-114.5M
CapEx % of Revenue	0.04%	0.03%	0.04%	0.04%	0.03%	0.03%	0.02%	0.03%	0.04%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	758.53K	2.34M	2.34M	8.96M	5.41M	17.61M	2.62M	3.5M	4.67M	4.56M
Cash from Financing+	-23.97M	-12.75M	-26.47M	-27.12M	-267.98M	-114.9M	-30.62M	-34.97M	-31.18M	-31.6M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-12.99M	-13M	-13M	-13.01M	-13.01M	-12.63M	-12.26M	-12.26M	-12.27M	-12.27M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	0	-854.79K	-5.58M	0	0	0	-377.2K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	21.39M	28.64M	10.75M	49.75M	227.35M	165.7M	219.89M	92.82M	51.66M	39.6M
FCF Margin %	0.01%	0.01%	0%	0.01%	0.05%	0.03%	0.04%	0.02%	0.01%	0.01%
FCF Growth %	-0.57%	0.34%	-0.62%	3.63%	3.57%	-0.27%	0.33%	-0.58%	-0.44%	-0.23%
FCF per Share	1.06	1.41	0.53	2.46	11.22	8.45	11.58	4.89	2.72	2.08
FCF Conversion (FCF/Net Income)	2.93x	2.90x	1.66x	2.59x	1.96x	1.23x	1.24x	1.26x	2.49x	1.84x
Interest Paid	46.55M	46.69M	47.35M	47.47M	47.19M	26.54M	21.4M	21.55M	21.99M	19.94M
Taxes Paid	20.21M	28.42M	13.67M	0	63.2M	77.52M	87.19M	78.41M	45.77M	11.09M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	12.05%	10.98%	17.6%	12.97%	24.1%	27.71%	24.32%	15.51%	7.03%	5.29%
Return on Invested Capital (ROIC)	7.28%	7.09%	6.65%	7.81%	14.33%	17.43%	17.95%	13.16%	6.34%	4.87%
Gross Margin	24.36%	24.07%	23.95%	24.32%	25.99%	26.13%	24.93%	23.84%	23.05%	23.89%
Net Margin	1.43%	1.35%	2.38%	1.94%	3.87%	5.01%	4.8%	3.58%	1.87%	1.57%
Debt / Equity	1.86x	1.72x	1.45x	1.29x	0.80x	0.64x	0.49x	0.41x	0.37x	0.34x
Interest Coverage	2.78x	2.70x	2.62x	3.21x	6.93x	14.39x	17.53x	13.25x	6.73x	5.84x
FCF Conversion	2.93x	2.90x	1.66x	2.59x	1.96x	1.23x	1.24x	1.26x	2.49x	1.84x
Revenue Growth	0.43%	5.47%	2.25%	2.67%	9.72%	8.18%	13.85%	3.77%	-4.3%	-5.42%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Grocery	1.39B	1.42B	1.41B	1.44B	1.69B	1.76B	1.94B	2.06B	1.98B	1.93B
Grocery Growth	-	2.34%	-0.83%	2.14%	17.36%	4.07%	10.07%	6.29%	-3.84%	-2.46%
Perishables	1.01B	1.06B	1.08B	1.11B	1.26B	1.35B	1.45B	1.48B	1.44B	1.4B
Perishables Growth	-	4.92%	1.61%	2.97%	13.58%	6.94%	7.11%	2.56%	-2.77%	-2.52%
Non Foods	817.16M	858.41M	874.68M	936.17M	1.07B	1.14B	1.2B	1.33B	1.27B	1.17B
Non Foods Growth	-	5.05%	1.90%	7.03%	13.97%	6.50%	6.00%	10.17%	-4.04%	-8.30%
Gasoline	435.58M	515.86M	604.9M	581.15M	459.64M	583.75M	885.8M	792.52M	724.23M	620.92M
Gasoline Growth	-	18.43%	17.26%	-3.93%	-20.91%	27.00%	51.74%	-10.53%	-8.62%	-14.26%
Other	138.18M	141.98M	121.45M	130.64M	128.53M	155.97M	203.13M	228.85M	217.82M	-
Other Growth	-	2.75%	-14.46%	7.56%	-1.61%	21.34%	30.24%	12.66%	-4.82%	-
Retail	-	-	-	4.07B	4.48B	-	-	-	-	-
Retail Growth	-	-	-	-	10.09%	-	-	-	-	-
Retail	3.66B	3.86B	3.97B	-	-	-	-	-	-	-
Retail Growth	-	5.58%	2.87%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Ingles Markets, Incorporated (IMKTA) has a price-to-earnings (P/E) ratio of 16.1x. This is roughly in line with market averages.

Growth & Financials

Ingles Markets, Incorporated (IMKTA) reported $5.33B in revenue for fiscal year 2025. This represents a 43% increase from $3.72B in 2012.

Ingles Markets, Incorporated (IMKTA) saw revenue decline by 5.4% over the past year.

Yes, Ingles Markets, Incorporated (IMKTA) is profitable, generating $83.6M in net income for fiscal year 2025 (1.6% net margin).

Dividend & Returns

Yes, Ingles Markets, Incorporated (IMKTA) pays a dividend with a yield of 0.91%. This makes it attractive for income-focused investors.

Ingles Markets, Incorporated (IMKTA) has a return on equity (ROE) of 5.3%. This is below average, suggesting room for improvement.

Ingles Markets, Incorporated (IMKTA) generated $39.6M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Ingles Markets, Incorporated (IMKTA) 10-Year Financial Performance & Capital Metrics

IMKTA • • Industrial / General

Consumer DefensiveGrocery StoresTraditional Supermarket ChainsRegional Supermarket Operators

Revenue $5.33B -5.4%
EBITDA $238M -11.4%
Net Income $84M -20.8%
EPS (Diluted) 4.40 -20.9%
Gross Margin 23.89% +3.6%
EBITDA Margin 4.46% -6.3%
Operating Margin 2.16% -17.2%
Net Margin 1.57% -16.3%
ROE 5.29% -24.7%
ROIC 4.87% -23.2%
Debt/Equity 0.34 -7.9%
Interest Coverage 5.84 -13.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓11 consecutive years of dividend growth
✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.8x book value
✓Efficient asset utilization: 2.1x turnover

✗Weaknesses

✗Profits declining 14.1% over 5 years

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y3.51%

5Y2.96%

3Y-2.07%

TTM-5.42%

Profit (Net Income) CAGR

10Y3.48%

5Y-14.09%

3Y-32.58%

TTM-20.8%

EPS CAGR

10Y4.15%

5Y-12.98%

3Y-32.58%

TTM-8.65%

ROCE

10Y Avg12.11%

5Y Avg13.59%

3Y Avg8.72%

Latest5.15%

Peer Comparison

Regional Supermarket Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
WMKWeis Markets, Inc.	1.7B	68.76	16.81	2.02%	2.04%	7.44%	1.54%	0.12
IMKTAIngles Markets, Incorporated	1.03B	70.85	16.10	-5.42%	1.57%	5.17%	3.84%	0.34
VLGEAVillage Super Market, Inc.	376.35M	35.41	9.27	3.76%	2.37%	11.09%	9.16%	0.69

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	3.79B	4B	4.09B	4.2B	4.61B	4.99B	5.68B	5.89B	5.64B	5.33B
Revenue Growth %	0%	0.05%	0.02%	0.03%	0.1%	0.08%	0.14%	0.04%	-0.04%	-0.05%
Cost of Goods Sold+	2.87B	3.04B	3.11B	3.18B	3.41B	3.68B	4.26B	4.49B	4.34B	4.06B
COGS % of Revenue	0.76%	0.76%	0.76%	0.76%	0.74%	0.74%	0.75%	0.76%	0.77%	0.76%
Gross Profit+	924.41M	963.59M	980.17M	1.02B	1.2B	1.3B	1.42B	1.4B	1.3B	1.27B
Gross Margin %	0.24%	0.24%	0.24%	0.24%	0.26%	0.26%	0.25%	0.24%	0.23%	0.24%
Gross Profit Growth %	0.03%	0.04%	0.02%	0.04%	0.17%	0.09%	0.09%	-0.01%	-0.07%	-0.02%
Operating Expenses+	795.8M	835.68M	855.35M	869.81M	917.31M	953.38M	1.04B	1.11B	1.15B	1.16B
OpEx % of Revenue	0.21%	0.21%	0.21%	0.21%	0.2%	0.19%	0.18%	0.19%	0.2%	0.22%
Selling, General & Admin	794.59M	837.14M	856.07M	873.86M	921.75M	11.1M	10.9M	10.6M	9.7M	7.4M
SG&A % of Revenue	0.21%	0.21%	0.21%	0.21%	0.2%	0%	0%	0%	0%	0%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.21M	-1.46M	-728.39K	-4.05M	-4.43M	942.28M	1.03B	1.1B	1.14B	1.15B
Operating Income+	128.6M	127.91M	124.82M	152.19M	280.94M	350.06M	376.93M	292.3M	147.14M	115.2M
Operating Margin %	0.03%	0.03%	0.03%	0.04%	0.06%	0.07%	0.07%	0.05%	0.03%	0.02%
Operating Income Growth %	-0.08%	-0.01%	-0.02%	0.22%	0.85%	0.25%	0.08%	-0.22%	-0.5%	-0.22%
EBITDA+	235.19M	238.84M	237.91M	264.71M	397.22M	467.16M	494.73M	408.28M	268.77M	238.09M
EBITDA Margin %	0.06%	0.06%	0.06%	0.06%	0.09%	0.09%	0.09%	0.07%	0.05%	0.04%
EBITDA Growth %	-0.03%	0.02%	-0%	0.11%	0.5%	0.18%	0.06%	-0.17%	-0.34%	-0.11%
D&A (Non-Cash Add-back)	106.59M	110.93M	113.08M	112.52M	116.28M	117.1M	117.8M	115.98M	121.62M	122.89M
EBIT	130.96M	131.72M	127.89M	154.01M	275.57M	351.95M	382.78M	300.57M	161.36M	129.65M
Net Interest Income+	-46.33M	-47.46M	-47.57M	-47.41M	-40.53M	-24.33M	-21.51M	-22.07M	-21.86M	-19.71M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	46.33M	47.46M	47.57M	47.41M	40.53M	24.33M	21.51M	22.07M	21.86M	19.71M
Other Income/Expense	-43.97M	-43.65M	-44.51M	-45.6M	-45.89M	-22.44M	-15.66M	-13.8M	-7.64M	-5.26M
Pretax Income+	84.63M	84.26M	80.32M	106.6M	235.04M	327.61M	361.27M	278.5M	139.5M	109.94M
Pretax Margin %	0.02%	0.02%	0.02%	0.03%	0.05%	0.07%	0.06%	0.05%	0.02%	0.02%
Income Tax+	30.45M	30.39M	-17.05M	25.02M	56.44M	77.88M	88.51M	67.69M	33.96M	26.34M
Effective Tax Rate %	0.64%	0.64%	1.21%	0.77%	0.76%	0.76%	0.76%	0.76%	0.76%	0.76%
Net Income+	54.19M	53.87M	97.36M	81.58M	178.6M	249.73M	272.76M	210.81M	105.54M	83.59M
Net Margin %	0.01%	0.01%	0.02%	0.02%	0.04%	0.05%	0.05%	0.04%	0.02%	0.02%
Net Income Growth %	-0.09%	-0.01%	0.81%	-0.16%	1.19%	0.4%	0.09%	-0.23%	-0.5%	-0.21%
Net Income (Continuing)	54.19M	53.87M	97.36M	81.58M	178.6M	249.73M	272.76M	210.81M	105.54M	83.59M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	2.67	2.66	4.81	4.03	8.82	12.73	14.36	11.10	5.56	4.40
EPS Growth %	-0.09%	-0%	0.81%	-0.16%	1.19%	0.44%	0.13%	-0.23%	-0.5%	-0.21%
EPS (Basic)	2.67	2.66	4.94	4.14	9.06	13.06	14.69	11.35	5.68	4.50
Diluted Shares Outstanding	20.26M	20.26M	20.26M	20.26M	20.26M	19.61M	18.99M	18.99M	18.99M	18.99M
Basic Shares Outstanding	19.69M	19.69M	19.7M	19.71M	19.71M	19.12M	18.57M	18.57M	18.59M	18.99M
Dividend Payout Ratio	0.24%	0.24%	0.13%	0.16%	0.07%	0.05%	0.04%	0.06%	0.12%	0.15%

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Current Assets+	418.49M	445.84M	496.74M	497.1M	470.19M	575.44M	838.13M	952.56M	925.55M	975.56M
Cash & Short-Term Investments	5.68M	23.91M	10.54M	42.13M	6.9M	75.31M	267.2M	328.54M	353.69M	366.25M
Cash Only	5.68M	23.91M	10.54M	42.13M	6.9M	70.31M	267.2M	328.54M	353.69M	366.25M
Short-Term Investments	0	0	0	0	0	5M	0	0	0	0
Accounts Receivable	61.74M	66.33M	70.06M	71.95M	81.36M	95.08M	97.16M	107.57M	78.27M	106.36M
Days Sales Outstanding	5.94	6.05	6.25	6.25	6.44	6.96	6.24	6.66	5.07	7.28
Inventory	343.88M	349.33M	372.2M	374.13M	366.82M	389.95M	457.95M	493.86M	462.08M	482.98M
Days Inventory Outstanding	43.73	41.96	43.65	42.94	39.24	38.63	39.21	40.17	38.86	43.42
Other Current Assets	7.19M	6.27M	43.95M	8.9M	15.1M	15.09M	15.83M	22.59M	31.51M	19.98M
Total Non-Current Assets+	1.27B	1.29B	1.33B	1.37B	1.43B	1.44B	1.46B	1.52B	1.6B	1.59B
Property, Plant & Equipment	1.25B	1.27B	1.3B	1.34B	1.4B	1.41B	1.41B	1.47B	1.55B	1.54B
Fixed Asset Turnover	3.04x	3.16x	3.14x	3.13x	3.29x	3.54x	4.02x	4.00x	3.63x	3.46x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	20.11M	22.35M	25.12M	25.96M	28.03M	31.99M	44.75M	49.81M	48.38M	50.29M
Total Assets+	1.69B	1.73B	1.82B	1.87B	1.9B	2.02B	2.3B	2.47B	2.53B	2.57B
Asset Turnover	2.25x	2.31x	2.24x	2.25x	2.43x	2.47x	2.47x	2.38x	2.23x	2.08x
Asset Growth %	0.02%	0.03%	0.05%	0.02%	0.02%	0.06%	0.14%	0.08%	0.02%	0.02%
Total Current Liabilities+	241.6M	245.56M	260.14M	247.58M	323.81M	306.1M	333.78M	330.53M	320.62M	302.9M
Accounts Payable	155.29M	150.9M	165.17M	151.33M	204.11M	189.43M	213.39M	204.04M	198.33M	179.23M
Days Payables Outstanding	19.75	18.12	19.37	17.37	21.83	18.77	18.27	16.59	16.68	16.11
Short-Term Debt	10M	12.21M	12.85M	12.6M	19.31M	17.6M	17.62M	17.53M	17.52M	17.48M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	11.74M	10.28M	10.34M	9.99M	10.63M	14.01M	13.91M	14.86M	16.96M	18.08M
Current Ratio	1.73x	1.82x	1.91x	2.01x	1.45x	1.88x	2.51x	2.88x	2.89x	3.22x
Quick Ratio	0.31x	0.39x	0.48x	0.50x	0.32x	0.61x	1.14x	1.39x	1.45x	1.63x
Cash Conversion Cycle	29.92	29.88	30.52	31.82	23.85	26.82	27.18	30.23	27.25	34.59
Total Non-Current Liabilities+	974.7M	976.69M	969.36M	957.03M	756.16M	728.99M	702.14M	684.34M	661.51M	647.22M
Long-Term Debt	866.47M	865.66M	852.74M	839.64M	586.2M	571.91M	554.29M	532.63M	515.1M	497.29M
Capital Lease Obligations	0	0	0	0	40.96M	33.89M	32.79M	37.08M	26.66M	23.22M
Deferred Tax Liabilities	71.45M	69.92M	74.46M	75.5M	73.33M	72.77M	73.58M	67.19M	63.77M	65.04M
Other Non-Current Liabilities	36.78M	41.11M	42.16M	41.89M	55.66M	50.42M	41.48M	47.44M	55.98M	61.67M
Total Liabilities	1.22B	1.22B	1.23B	1.2B	1.08B	1.04B	1.04B	1.01B	982.13M	950.12M
Total Debt+	876.47M	877.87M	865.59M	852.24M	654.85M	632.04M	612.5M	595.47M	564.96M	543.67M
Net Debt	870.79M	853.96M	855.05M	810.11M	647.95M	561.72M	345.3M	266.93M	211.27M	177.42M
Debt / Equity	1.86x	1.72x	1.45x	1.29x	0.80x	0.64x	0.49x	0.41x	0.37x	0.34x
Debt / EBITDA	3.73x	3.68x	3.64x	3.22x	1.65x	1.35x	1.24x	1.46x	2.10x	2.28x
Net Debt / EBITDA	3.70x	3.58x	3.59x	3.06x	1.63x	1.20x	0.70x	0.65x	0.79x	0.75x
Interest Coverage	2.78x	2.70x	2.62x	3.21x	6.93x	14.39x	17.53x	13.25x	6.73x	5.84x
Total Equity+	470.18M	511.05M	595.41M	662.72M	819.33M	983.26M	1.26B	1.46B	1.55B	1.62B
Equity Growth %	0.1%	0.09%	0.17%	0.11%	0.24%	0.2%	0.28%	0.16%	0.06%	0.05%
Book Value per Share	23.21	25.22	29.39	32.71	40.44	50.13	66.31	76.81	81.38	85.07
Total Shareholders' Equity	470.18M	511.05M	595.41M	662.72M	819.33M	983.26M	1.26B	1.46B	1.55B	1.62B
Common Stock	1.01M	1.01M	1.01M	1.01M	1.01M	949.72K	949.72K	949.72K	949.72K	949.72K
Retained Earnings	456.85M	497.73M	582.09M	650.66M	816.26M	985.73M	1.25B	1.44B	1.54B	1.61B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	-1.27M	-10.25M	-3.43M	12.41M	13.23M	6.74M	5.6M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	159.03M	156.34M	161.24M	211.5M	350.12M	306.3M	339.5M	266.41M	262.52M	154.1M
Operating CF Margin %	0.04%	0.04%	0.04%	0.05%	0.08%	0.06%	0.06%	0.05%	0.05%	0.03%
Operating CF Growth %	0.04%	-0.02%	0.03%	0.31%	0.66%	-0.13%	0.11%	-0.22%	-0.01%	-0.41%
Net Income	54.19M	53.87M	97.36M	81.58M	178.6M	249.73M	272.76M	210.81M	105.54M	83.59M
Depreciation & Amortization	106.59M	110.93M	113.08M	112.52M	116.28M	117.1M	117.8M	115.98M	121.62M	122.89M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	6.81M	-1.53M	4.54M	1.45M	737K	-2.77M	-4.31M	-6.66M	-1.33M	1.65M
Other Non-Cash Items	1.13M	95.64K	-798.32K	-4.31M	11.73M	-1.43M	6.31M	5.11M	32.11M	3.44M
Working Capital Changes	-9.68M	-7.03M	-52.95M	20.27M	42.77M	-56.34M	-53.06M	-58.83M	4.58M	-57.48M
Change in Receivables	4.55M	-4.59M	-3.73M	-1.89M	-9.41M	-13.72M	-2.08M	-10.41M	29.34M	-28.09M
Change in Inventory	-5.24M	-5.45M	-22.86M	-1.93M	7.3M	-23.13M	-67.99M	-35.91M	1.33M	-20.89M
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-136.88M	-125.36M	-148.15M	-152.79M	-117.35M	-127.98M	-111.99M	-170.1M	-206.18M	-109.94M
Capital Expenditures	-137.64M	-127.7M	-150.49M	-161.75M	-122.77M	-140.6M	-119.61M	-173.59M	-210.86M	-114.5M
CapEx % of Revenue	0.04%	0.03%	0.04%	0.04%	0.03%	0.03%	0.02%	0.03%	0.04%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	758.53K	2.34M	2.34M	8.96M	5.41M	17.61M	2.62M	3.5M	4.67M	4.56M
Cash from Financing+	-23.97M	-12.75M	-26.47M	-27.12M	-267.98M	-114.9M	-30.62M	-34.97M	-31.18M	-31.6M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-12.99M	-13M	-13M	-13.01M	-13.01M	-12.63M	-12.26M	-12.26M	-12.27M	-12.27M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	0	-854.79K	-5.58M	0	0	0	-377.2K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	21.39M	28.64M	10.75M	49.75M	227.35M	165.7M	219.89M	92.82M	51.66M	39.6M
FCF Margin %	0.01%	0.01%	0%	0.01%	0.05%	0.03%	0.04%	0.02%	0.01%	0.01%
FCF Growth %	-0.57%	0.34%	-0.62%	3.63%	3.57%	-0.27%	0.33%	-0.58%	-0.44%	-0.23%
FCF per Share	1.06	1.41	0.53	2.46	11.22	8.45	11.58	4.89	2.72	2.08
FCF Conversion (FCF/Net Income)	2.93x	2.90x	1.66x	2.59x	1.96x	1.23x	1.24x	1.26x	2.49x	1.84x
Interest Paid	46.55M	46.69M	47.35M	47.47M	47.19M	26.54M	21.4M	21.55M	21.99M	19.94M
Taxes Paid	20.21M	28.42M	13.67M	0	63.2M	77.52M	87.19M	78.41M	45.77M	11.09M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	12.05%	10.98%	17.6%	12.97%	24.1%	27.71%	24.32%	15.51%	7.03%	5.29%
Return on Invested Capital (ROIC)	7.28%	7.09%	6.65%	7.81%	14.33%	17.43%	17.95%	13.16%	6.34%	4.87%
Gross Margin	24.36%	24.07%	23.95%	24.32%	25.99%	26.13%	24.93%	23.84%	23.05%	23.89%
Net Margin	1.43%	1.35%	2.38%	1.94%	3.87%	5.01%	4.8%	3.58%	1.87%	1.57%
Debt / Equity	1.86x	1.72x	1.45x	1.29x	0.80x	0.64x	0.49x	0.41x	0.37x	0.34x
Interest Coverage	2.78x	2.70x	2.62x	3.21x	6.93x	14.39x	17.53x	13.25x	6.73x	5.84x
FCF Conversion	2.93x	2.90x	1.66x	2.59x	1.96x	1.23x	1.24x	1.26x	2.49x	1.84x
Revenue Growth	0.43%	5.47%	2.25%	2.67%	9.72%	8.18%	13.85%	3.77%	-4.3%	-5.42%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Grocery	1.39B	1.42B	1.41B	1.44B	1.69B	1.76B	1.94B	2.06B	1.98B	1.93B
Grocery Growth	-	2.34%	-0.83%	2.14%	17.36%	4.07%	10.07%	6.29%	-3.84%	-2.46%
Perishables	1.01B	1.06B	1.08B	1.11B	1.26B	1.35B	1.45B	1.48B	1.44B	1.4B
Perishables Growth	-	4.92%	1.61%	2.97%	13.58%	6.94%	7.11%	2.56%	-2.77%	-2.52%
Non Foods	817.16M	858.41M	874.68M	936.17M	1.07B	1.14B	1.2B	1.33B	1.27B	1.17B
Non Foods Growth	-	5.05%	1.90%	7.03%	13.97%	6.50%	6.00%	10.17%	-4.04%	-8.30%
Gasoline	435.58M	515.86M	604.9M	581.15M	459.64M	583.75M	885.8M	792.52M	724.23M	620.92M
Gasoline Growth	-	18.43%	17.26%	-3.93%	-20.91%	27.00%	51.74%	-10.53%	-8.62%	-14.26%
Other	138.18M	141.98M	121.45M	130.64M	128.53M	155.97M	203.13M	228.85M	217.82M	-
Other Growth	-	2.75%	-14.46%	7.56%	-1.61%	21.34%	30.24%	12.66%	-4.82%	-
Retail	-	-	-	4.07B	4.48B	-	-	-	-	-
Retail Growth	-	-	-	-	10.09%	-	-	-	-	-
Retail	3.66B	3.86B	3.97B	-	-	-	-	-	-	-
Retail Growth	-	5.58%	2.87%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Ingles Markets, Incorporated (IMKTA) has a price-to-earnings (P/E) ratio of 16.1x. This is roughly in line with market averages.

Growth & Financials

Ingles Markets, Incorporated (IMKTA) reported $5.33B in revenue for fiscal year 2025. This represents a 43% increase from $3.72B in 2012.

Ingles Markets, Incorporated (IMKTA) saw revenue decline by 5.4% over the past year.

Yes, Ingles Markets, Incorporated (IMKTA) is profitable, generating $83.6M in net income for fiscal year 2025 (1.6% net margin).

Dividend & Returns

Yes, Ingles Markets, Incorporated (IMKTA) pays a dividend with a yield of 0.91%. This makes it attractive for income-focused investors.

Ingles Markets, Incorporated (IMKTA) has a return on equity (ROE) of 5.3%. This is below average, suggesting room for improvement.

Ingles Markets, Incorporated (IMKTA) generated $39.6M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.