The Andersons (ANDE)
NASDAQ:ANDE
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The Andersons
(NASDAQ:ANDE)
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Rating:68Neutral
Price Target:
$80.00
▲(68.39% Upside)
Action:ReiteratedDate:03/26/26
ANDE’s score is anchored by improved financial flexibility but weighed down by shrinking revenue and especially weak/volatile cash generation (negative free cash flow in 2025). Technicals are supportive with strong trend momentum, and valuation looks attractive with a low P/E. The latest call was broadly constructive on 2026, but tempered by full-year softness, cash flow pressures, and policy/input-cost sensitivities.
Positive Factors
Balance-sheet strength
Leverage fell materially to ~0.26x by 2025 with a sizable equity base (~$1.24B vs ~$321M debt). This durable improvement expands financial flexibility, reduces refinancing risk during seasonal commodity cycles, and supports capital allocation for capex, M&A, and working-capital needs.
Negative Factors
Persistent revenue decline
Three consecutive years of top-line decline signal structural pressure in agribusiness merchandising and distribution. Shrinking revenue undermines operating leverage and leaves limited room to absorb input cost or margin shocks, making earnings recovery harder absent sustained volume or price improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet strength
Leverage fell materially to ~0.26x by 2025 with a sizable equity base (~$1.24B vs ~$321M debt). This durable improvement expands financial flexibility, reduces refinancing risk during seasonal commodity cycles, and supports capital allocation for capex, M&A, and working-capital needs.
Read all positive factors
The Andersons (ANDE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.44B
Dividend Yield1.44%
Average Volume (3M)239.38K
Price to Earnings (P/E)18.9
Beta (1Y)0.50
Revenue Growth2.19%
EPS Growth-39.07%
CountryUS
Employees2,224
SectorConsumer Defensive
Sector Strength42
IndustryFood Distribution
Share Statistics
EPS (TTM)1.97
Shares Outstanding33,880,130
10 Day Avg. Volume297,396
30 Day Avg. Volume239,380
Financial Highlights & Ratios
PEG Ratio-1.17
Price to Book (P/B)1.45
Price to Sales (P/S)0.16
P/FCF Ratio-32.22
Enterprise Value/Market Cap1.39
Enterprise Value/Revenue0.31
Enterprise Value/Gross Profit4.86
Enterprise Value/Ebitda10.95
Forecast
1Y Price Target
$75.00Price Target Upside57.86% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)4.56
Revenue Forecast (FY)$11.58B
The Andersons Business Overview & Revenue Model
Company Description
The 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...
How the Company Makes Money
The Andersons makes money primarily through (1) merchandising agricultural commodities and (2) selling plant nutrient products.
1) Commodity merchandising and logistics: The company buys, stores, transports, and sells grains and other agricultura...
The Andersons Earnings Call Summary
Earnings Call Date:Feb 17, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 05, 2026
Earnings Call Sentiment Neutral
The call highlights a very strong fourth quarter driven by renewables (record ethanol production, improved board crush, and full ownership of plants) and successful integration of Skyland, delivering notable Q4 income and margin improvements. However, full-year results show mixed performance: agribusiness profitability and full-year adjusted EBITDA declined, full-year cash flow was lower, and merchandising was constrained by a well-supplied grain market and farmer selling uncertainty. Management provided a constructive 2026 outlook with project investments (Clymers expansion, feedstock/blending facility, Port of Houston upgrades) and targets for higher run-rate EPS, but some near-term risks remain from input costs and policy dependence. Overall, Q4 strength is offset by full-year softness and near-term uncertainties, producing a balanced outlook.Positive Updates
Record Fourth Quarter EPS and Adjusted Net Income
Reported net income attributable of $67.0M ($1.97/diluted share) and adjusted net income of $70.0M ($2.04/diluted share) in Q4 2025, up from adjusted net income of $47.0M ($1.36/diluted) in Q4 2024 (adjusted net income +48.9%, adjusted EPS +50%).
Negative Updates
Full-Year Adjusted EBITDA Decline
Full-year adjusted EBITDA decreased to $337M in 2025 from $363M in 2024, a decline of ~$26M (≈-7%), reflecting early-year agribusiness headwinds that offset later-year strength in renewables and acquisitions.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Fourth Quarter EPS and Adjusted Net Income
Reported net income attributable of $67.0M ($1.97/diluted share) and adjusted net income of $70.0M ($2.04/diluted share) in Q4 2025, up from adjusted net income of $47.0M ($1.36/diluted) in Q4 2024 (adjusted net income +48.9%, adjusted EPS +50%).
Read all positive updates
Company Guidance
The company guided to a constructive 2026 outlook, expecting improved Agribusiness results and continued strong ethanol demand and to exit 2026 with run-rate EPS above $4.30 (versus a long-range exit-2028 target of $7); management also expects 45Z tax credits to rise to roughly $90–100 million in 2026 (after $15M in Q4 2025 and $35M for full‑year 2025). Key operating and timing metrics include a planned +30 million gallon/year expansion at Clymers (online 2027), a renewable feedstock storage/blending facility starting in Q1 2026 in Ulysses KS, Port of Houston elevator upgrades complete in Q2 2026 with soybean‑meal export capacity late Q3 2026, and completion of Carlsbad phase‑2 in Q2 2026. Recent results cited as context: Q4 net income attributable $67M ($1.97 diluted EPS) and adjusted net $70M ($2.04), Q4 gross profit $231M (+8% YoY) and FY gross profit $714M (+3%), Q4 adjusted EBITDA $137M (FY $337M), renewables Q4 adj. EBITDA $69M (FY $203M) with ethanol board crush +$0.15/gal YoY, agribusiness FY adj. EBITDA $187M, Q4 cash flow from ops before WC $110M (FY $278M), and year‑end long‑term debt/EBITDA of 1.8x (target <2.5x) — all of which management said support continued capital investment, disciplined M&A, and further efficiency and low‑CI investments.The Andersons Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
72
Positive
Cash Flow
44
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 11.01B | 11.26B | 14.75B | 17.33B | 12.61B |
| Gross Profit | 696.53M | 687.31M | 831.94M | 670.63M | 441.64M |
| EBITDA | 309.06M | 359.75M | 341.54M | 386.30M | 378.27M |
| Net Income | 95.71M | 114.01M | 101.19M | 131.08M | 103.99M |
Balance Sheet | |||||
| Total Assets | 3.71B | 4.12B | 3.86B | 4.61B | 4.57B |
| Cash, Cash Equivalents and Short-Term Investments | 98.28M | 561.77M | 643.85M | 115.27M | 216.44M |
| Total Debt | 1.04B | 876.22M | 665.29M | 912.39M | 1.17B |
| Total Liabilities | 2.42B | 2.52B | 2.34B | 3.18B | 3.26B |
| Stockholders Equity | 1.24B | 1.37B | 1.28B | 1.20B | 1.07B |
Cash Flow | |||||
| Free Cash Flow | -56.13M | 182.32M | 796.31M | 147.38M | -132.85M |
| Operating Cash Flow | 177.00M | 331.51M | 946.75M | 287.12M | -51.05M |
| Investing Cash Flow | -195.31M | -163.07M | -153.88M | -52.90M | 487.25M |
| Financing Cash Flow | -447.15M | -250.36M | -263.99M | -334.73M | -248.77M |
The Andersons Technical Analysis
Positive
47.51
Price Trends
65.41
Positive
58.48
Positive
48.84
Positive
Market Momentum
1.80
Negative
63.02
Neutral
85.94
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ANDE, the sentiment is Positive. The current price of 47.51 is below the 20-day moving average (MA) of 68.05, below the 50-day MA of 65.41, and below the 200-day MA of 48.84, indicating a bullish trend. The MACD of 1.80 indicates Negative momentum. The RSI at 63.02 is Neutral, neither overbought nor oversold. The STOCH value of 85.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ANDE.
The Andersons Risk Analysis
The Andersons disclosed 23 risk factors in its most recent earnings report. The Andersons reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
The Andersons Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $355.67M | 15.27 | 18.55% | 3.55% | 9.33% | 72.31% | |
69 Neutral | $469.55M | 155.30 | 7.82% | 3.70% | -5.33% | ― | |
68 Neutral | $2.44B | 18.89 | 7.44% | 1.44% | 2.19% | -39.07% | |
63 Neutral | $963.51M | -339.58 | 5.77% | ― | 12.68% | 3.09% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
62 Neutral | $2.74B | 28.34 | -4.97% | ― | 1.45% | -5.49% |
* Consumer Defensive Sector Average
ANDE
The Andersons
72.00
28.93
67.16%
CVGW
Calavo Growers
26.27
2.56
10.78%
WILC
Willi Food Inte
25.62
10.33
67.56%
UNFI
United Natural Foods
45.12
18.15
67.30%
AVO
Mission Produce
13.60
3.33
32.42%
The Andersons Corporate Events
Business Operations and StrategyPrivate Placements and Financing
The Andersons Amends and Extends Key Credit Facilities
Positive
Mar 25, 2026
On March 20, 2026, The Andersons, Inc. amended its long-standing credit agreement with U.S. Bank National Association, reducing the capacity of its revolving credit facility from $1.55 billion to $1.30 billion while extending the facility’s ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.