INGMIngram Micro Holding Corp

Wholesale-Computers & Peripheral Equipment & Software

Revenue: $52.6B; 9.5% YoY
Operating margin: 1.7%; 2.1% YoY
EBITDA: $1.1B; 6.6% YoY
Market cap: $6.7B
Employees: 9,800; $5M revenue each
Net debt / EBITDA: 2.7×; $2.9B net debt
AI in 10-K: 5.4; mentions per 10K words

Takeover score 1 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 cashNo
279% of net income
Cash flow under 80% of net income
Dilutive SBCNo
0% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
9% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
4% of assets
Over 40% of assets
Shareholder dissentNo
95% lowest support
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
$5M · 97th pct
Bottom quartile of its SIC industry
Quiet on AINo
5.4 per 10K words · 84th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
2.7× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$6.7B market cap
Market cap $500M–$5B

Catalysts 1 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingYes
−$1.2B net
Net sales over $10M in 12 months

Financials

Metric	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$50.8B	$48.0B	$48.0B	$52.6B	9.5%
Operating income	$3.2B	$944M	$818M	$877M	7.2%
Net income	$2.4B	$353M	$264M	$328M	24%
Operating cash flow	−$361M	$59M	$334M	$916M	174%
Capex	$136M	$202M	$143M	$131M	8.4%
Stock-based comp	$0	$0	$34M	$21M	38%
Dividends	$1.8B	$10M	$6M	$78M	1169%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $0 · 0
Open-market sells, 12 mo: $1.2B · 8
Net: −$1.2B

Pay vs performance

No pay-versus-performance disclosure yet.