ANDEAndersons, Inc.
Wholesale-Farm Product Raw Materials
- Revenue
- $1.5B
- 9.1% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $2.2B
- Employees
- 2,137
- $716K revenue each
- Net debt / EBITDA
- —
- $478M net debt
- AI in 10-K
- 0.2
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo185% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo24% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo4% of assetsOver 40% of assets
- Shareholder dissentNo92% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo$716K · 38th pctBottom quartile of its SIC industry
- Quiet on AIYes0.2 per 10K words · 13th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$2.2B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$10M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $2.2B | $3.0B | $1.6B | $1.4B | $1.5B | 9.1% |
| Net income | $104M | $131M | $101M | $114M | $96M | 16% |
| Operating cash flow | −$51M | $287M | $947M | $332M | $177M | 47% |
| Capex | $76M | $108M | $150M | $149M | $233M | 56% |
| Stock-based comp | $11M | $11M | $13M | $14M | $17M | 25% |
| Buybacks | $0 | $13M | $2M | $2M | $15M | 570% |
| Dividends | $24M | $25M | $25M | $26M | $27M | 2.2% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $10M · 25
- Net
- −$10M
Pay vs performance
No pay-versus-performance disclosure yet.