The company has significantly strengthened its financial position by reducing total debt from $4.4 billion in 2023Q4 to $1.3 billion in 2026Q1, resulting in a much healthier 0.30 debt-to-equity ratio.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Total Current Assets | 17.92B | 18.24B | 15.8B | 15.35B | 16.17B | 16.68B | 15.13B | 13.46B | 13.47B | 13.28B | 11.81B | 10.53B | 11.49B | 10.38B |
| Cash & Short-Term Investments | 915.99M | 1.86B | 918.4M | 948.49M | 1.32B | 1.23B | 1.41B | 671.82M | 533.95M | 549.56M | 796.16M | 986.99M | 749.39M | 728.25M |
| Cash Only | 915.99M | 1.86B | 918.4M | 948.49M | 1.32B | 1.23B | 1.41B | 671.82M | 533.95M | 549.56M | 796.16M | 935.27M | 692.78M | 674.39M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 51.72M | 56.62M | 53.86M |
| Accounts Receivable | 10.88B | 10.55B | 9.45B | 8.99B | 8.78B | 8.52B | 8.48B | 7.9B | 7.76B | 7.63B | 6.35B | 5.66B | 6.12B | 5.45B |
| Days Sales Outstanding | 66.91 | 73.25 | 71.87 | 68.29 | 63.08 | 57.11 | 63.03 | 61.13 | 56.14 | 59.64 | 55.32 | 48.05 | 48.02 | 46.79 |
| Inventory | 5.18B | 4.97B | 4.7B | 4.66B | 5.36B | 5.29B | 4.65B | 4.19B | 4.51B | 4.47B | 3.9B | 3.46B | 4.15B | 3.72B |
| Days Inventory Outstanding | 37.89 | 36.98 | 38.51 | 38.23 | 41.49 | 38.33 | 37.26 | 34.9 | 34.83 | 37.33 | 36.46 | 31.3 | 34.52 | 33.93 |
| Other Current Assets | 948.69M | 859.25M | 734.94M | 757.4M | 713.63M | 1.64B | 587.51M | 688.63M | 669.04M | 633.11M | 756.17M | 424.09M | 475.79M | 468.05M |
| Total Non-Current Assets | 3.02B | 3B | 2.98B | 3.07B | 2.91B | 3.12B | 2.61B | 2.02B | 1.99B | 2.09B | 1.91B | 1.78B | 1.35B | 1.42B |
| Property, Plant & Equipment | 938.66M | 935.12M | 895.16M | 883.32M | 722.1M | 733.64M | 994.72M | 455.44M | 421.01M | 417.44M | 381.88M | 381.41M | 432.43M | 488.7M |
| Fixed Asset Turnover | 58.09x | 56.20x | 53.60x | 54.39x | 70.38x | 74.23x | 49.38x | 103.63x | 119.80x | 111.81x | 109.80x | 112.81x | 107.50x | 87.08x |
| Goodwill | 851.4M | 854.75M | 833.66M | 851.78M | 844.74M | 864.86M | 975.38M | 946.95M | 938.41M | 990.37M | 904.92M | 843M | 532.48M | 527.53M |
| Intangible Assets | 685.04M | 711.81M | 772.57M | 880.43M | 957.47M | 1.08B | 210.21M | 253.18M | 316.6M | 385.15M | 445.65M | 374.67M | 318.69M | 375.42M |
| Long-Term Investments | 175.84M | 0 | 93.77M | 177K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 547.15M | 502.07M | 383.35M | 450.29M | 388.99M | 444.71M | 425.33M | 360.3M | 317.32M | 299.88M | 176.64M | 176.32M | 62.32M | 23.98M |
| Total Assets | 20.95B | 21.24B | 18.78B | 18.42B | 19.09B | 19.8B | 17.73B | 15.47B | 15.46B | 15.37B | 13.72B | 12.31B | 12.83B | 11.79B |
| Asset Turnover | 2.68x | 2.47x | 2.56x | 2.61x | 2.66x | 2.75x | 2.77x | 3.05x | 3.26x | 3.04x | 3.06x | 3.50x | 3.62x | 3.61x |
| Asset Growth % | 39.58% | 13.12% | 1.95% | -3.5% | -3.58% | 11.65% | 14.59% | 0.07% | 0.58% | 12.06% | 11.47% | -4.09% | 8.82% | - |
| Total Current Liabilities | 13.64B | 13.68B | 11.31B | 10.66B | 11.31B | 11.98B | 11.16B | 9.3B | 9.59B | 8.77B | 8.59B | 7.11B | 7.44B | 6.93B |
| Accounts Payable | 11.64B | 11.96B | 10.01B | 9.23B | 9.85B | 9.81B | 9.69B | 8.09B | 8.58B | 7.76B | 7.17B | 6.35B | 6.52B | 6.18B |
| Days Payables Outstanding | 77.96 | 89.02 | 82 | 75.72 | 76.26 | 71.13 | 77.69 | 67.33 | 66.26 | 64.78 | 67.03 | 57.52 | 54.33 | 56.26 |
| Short-Term Debt | 892.89M | 554.05M | 184.86M | 265.72M | 200.33M | 179.33M | 79.03M | 142.44M | 175.22M | 127.51M | 559.77M | 134.1M | 372.03M | 48.77M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.11B | 1.16B | 5.28M | 0 | 0 | 407.51M | 94.91M | 0 | 0 | 0 | 0 | 16.01M | 1.79M | 8.89M |
| Current Ratio | 1.31x | 1.33x | 1.40x | 1.44x | 1.43x | 1.39x | 1.36x | 1.45x | 1.40x | 1.51x | 1.37x | 1.48x | 1.54x | 1.50x |
| Quick Ratio | 0.93x | 0.97x | 0.98x | 1.00x | 0.96x | 0.95x | 0.94x | 1.00x | 0.93x | 1.00x | 0.92x | 1.00x | 0.99x | 0.96x |
| Cash Conversion Cycle | 26.84 | 21.21 | 28.39 | 30.8 | 28.31 | 24.31 | 22.59 | 28.7 | 24.71 | 32.18 | 24.75 | 21.82 | 28.21 | 24.46 |
| Total Non-Current Liabilities | 3.1B | 3.32B | 3.74B | 4.25B | 4.72B | 5.12B | 1.56B | 1.51B | 1.48B | 2.28B | 1.01B | 1.22B | 1.21B | 907.15M |
| Long-Term Debt | 358.31M | 354.89M | 3.17B | 3.66B | 4.17B | 4.64B | 931.58M | 1.34B | 1.31B | 1.98B | 832.46M | 1.1B | 1.1B | 797.45M |
| Capital Lease Obligations | 735.94M | 0 | 369.49M | 366.14M | 322.67M | 240.87M | 419.56M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 2.74B | 2.96B | 201.51M | 226.87M | 225.47M | 237.87M | 208.09M | 169.29M | 163.81M | 298.9M | 181.39M | 124.04M | 114.63M | 109.7M |
| Total Liabilities | 16.74B | 17B | 15.05B | 14.91B | 16.03B | 17.1B | 12.72B | 10.8B | 11.07B | 11.05B | 9.61B | 8.33B | 8.65B | 7.84B |
| Total Debt | 1.25B | 908.95M | 3.82B | 4.4B | 4.79B | 5.16B | 1.57B | 1.48B | 1.49B | 2.11B | 1.39B | 1.23B | 1.47B | 846.23M |
| Net Debt | 335.21M | -955.78M | 2.9B | 3.45B | 3.47B | 3.93B | 163.44M | 808.4M | 954.55M | 1.56B | 596.07M | 296.11M | 776.14M | 171.84M |
| Debt / Equity | 0.30x | 0.21x | 1.02x | 1.25x | 1.56x | 1.91x | 0.31x | 0.32x | 0.34x | 0.49x | 0.34x | 0.31x | 0.35x | 0.21x |
| Debt / EBITDA | 1.04x | 0.72x | 3.36x | 3.55x | 1.35x | 4.75x | 1.27x | 1.66x | 1.96x | 3.45x | 2.89x | 2.17x | 2.32x | 1.31x |
| Net Debt / EBITDA | 0.28x | -0.76x | 2.55x | 2.79x | 0.98x | 3.62x | 0.13x | 0.91x | 1.26x | 2.55x | 1.24x | 0.52x | 1.23x | 0.27x |
| Interest Coverage | 2.45x | 3.09x | 2.32x | 2.37x | 9.79x | 3.10x | 10.66x | 6.49x | 6.88x | 6.04x | 6.94x | 7.83x | 8.48x | 10.68x |
| Total Equity | 4.2B | 4.25B | 3.73B | 3.51B | 3.06B | 2.69B | 5.01B | 4.67B | 4.4B | 4.32B | 4.11B | 3.98B | 4.18B | 3.95B |
| Equity Growth % | 52.99% | 13.78% | 6.49% | 14.66% | 13.54% | -46.26% | 7.32% | 6.22% | 1.7% | 5.08% | 3.42% | -4.92% | 5.92% | - |
| Book Value per Share | 17.66 | 18.05 | 16.62 | 14.93 | 13.02 | 11.47 | 21.34 | 19.89 | - | - | - | 0.00 | 0.00 | 0.00 |
| Total Shareholders' Equity | 4.2B | 4.25B | 3.73B | 3.51B | 3.06B | 2.69B | 5.01B | 4.67B | 4.4B | 4.32B | 4.11B | 3.97B | 4.17B | 3.95B |
| Common Stock | 2.35M | 2.35M | 2.35M | 0 | 0 | 0 | 0 | 4.67B | 4.4B | 4.32B | 4.11B | 1.95M | 1.94M | 1.92M |
| Retained Earnings | 1.67B | 1.59B | 1.34B | 1.08B | 737.53M | 96.73M | 4.41B | 0 | 0 | 0 | 0 | 3.51B | 3.33B | 3.06B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -892.92M | -636.49M | -639.3M |
| Accumulated OCI | -324.58M | -263.21M | -509.71M | -231.49M | -337.46M | -61.3M | -185.23M | 0 | 0 | 0 | 0 | -157.39M | 10.5M | 111.57M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10.05M | 17.67M | 0 |
Working capital cycle volatility
As reported in financial statements, Ingram Micro has successfully reduced its debt-to-equity ratio from 1.25 in 2023Q4 to 0.30 by 2026Q1, signaling a deliberate and effective shift toward a more conservative capital structure that strengthens the firm's overall financial position against cyclical industry downturns.
The consistent reduction in leverage suggests management is prioritizing balance sheet flexibility as it scales its Xvantage platform. This trend appears to provide a significant buffer, potentially insulating the company from the interest rate sensitivity that historically plagued its high-volume, low-margin distribution model.
Based on the provided quarterly data, total debt has plummeted from $4.4 billion in 2023Q4 to $1.3 billion in 2026Q1, indicating that the company has utilized its cash flow to aggressively pay down obligations and lower its interest expense burden in a volatile rate environment.
This rapid deleveraging suggests a strategic pivot to reduce financial risk, which may be intended to improve the company's credit profile following its transition from private ownership. Investors should monitor whether this debt reduction limits future capital allocation flexibility for potential strategic acquisitions.
According to recent balance sheet filings, the current ratio has remained relatively stable, hovering between 1.31 and 1.46 over the last ten quarters, which suggests that Ingram Micro maintains sufficient short-term liquidity to manage its extensive inventory and trade credit obligations despite significant quarterly cash flow volatility.
The maintenance of a consistent current ratio implies that the company is effectively balancing its working capital requirements with its operational scale. However, the reliance on trade credit suggests that any disruption in vendor relationships could rapidly impact this liquidity position, warranting continued oversight.
As indicated by the company's financial records, equity has expanded from $3.5 billion in 2023Q4 to $4.2 billion in 2026Q1, primarily driven by the consistent accumulation of retained earnings, which grew from $1.1 billion to $1.7 billion over the same period.
The steady growth in retained earnings suggests that the business is generating sufficient internal capital to fund its operations and debt reduction without excessive reliance on external financing. This trend appears to reflect a disciplined approach to capital preservation, though investors should watch for potential dilution from emerging stock-based compensation programs.
Quick answers to the most common questions about buying INGM stock.
As of 2025, Ingram Micro Holding Corporation (INGM) had total assets of $21.24B including $18.24B in current assets.
Ingram Micro Holding Corporation (INGM) carries total debt of $908.9M, offset by $1.86B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Ingram Micro Holding Corporation (INGM) has total shareholders' equity (book value) of $4.25B ($18.05 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Ingram Micro Holding Corporation (INGM) reported a current ratio of 1.33x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.