Ingram Micro Holding Corporation (INGM) AI Stock Analysis

• Market Cap: $5.26B
• Dividend Yield: 1.39%
• Average Volume (3M): 329.97K
• Price to Earnings (P/E): 15.8
• Beta (1Y): 1.21
• Revenue Growth: 7.06%
• EPS Growth: -8.83%
• Country: US
• Employees: 23,500
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 0.96
• Shares Outstanding: 235,074,690
• 10 Day Avg. Volume: 276,420
• 30 Day Avg. Volume: 329,969
• PEG Ratio: 0.85
• Price to Book (P/B): 1.22
• Price to Sales (P/S): 0.10
• P/FCF Ratio: 6.60
• Enterprise Value/Market Cap: 0.82
• Enterprise Value/Revenue: 0.08
• Enterprise Value/Gross Profit: 1.23
• Enterprise Value/Ebitda: 3.71
• 1Y Price Target: $23.83
• Price Target Upside: 6.57% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): 3.17
• Revenue Forecast (FY): $53.34B

• Rating: 67 Neutral
• Price Target: $24.00 ▲(7.33% Upside)
• Action: Reiterated Date: 03/10/26
• Date: Action: Reiterated 03/10/26

The score is driven primarily by improving financial health (deleveraging and stronger free cash flow) and a constructive earnings update with continued growth and margin stabilization signs. Offsetting this are structurally low margins and mix-driven margin pressure, while technicals and valuation appear broadly neutral-to-supportive rather than standout positives.

Positive Factors

Deleveraging and stronger balance sheet

Material deleveraging meaningfully reduces financial risk and interest burden, expanding strategic optionality. With net debt/EBITDA near 1.0x and sizable equity, management can fund growth investments, repay debt, and support buybacks/dividends without destabilizing liquidity over the medium term.

Improved free cash flow generation

A sustained rebound to robust free cash flow strengthens the company's ability to self-fund operations, invest in platforms, and return capital. Higher cash conversion reduces reliance on external financing and supports durable capital allocation (debt paydown, repurchases, platform investment) over 2–6 months.

Platform-driven productivity (Xvantage) and automation

Acceleration of the Xvantage platform and AI automation increases revenue per customer and lowers go-to-market cost, promoting scalable, higher-margin service delivery. Platform adoption creates sticky customer workflows, improves unit economics, and creates durable productivity gains as digital penetration deepens.

Negative Factors

Structurally thin margins

Persistently low gross and net margins mean profitability relies on large volumes and tight cost control. Limited margin cushion magnifies sensitivity to pricing, tariffs, and mix shifts, constraining the firm's ability to fund discretionary initiatives and produce reliably high returns across economic cycles.

AI/GPU and infrastructure sales dilutive to margins

Serving lower-margin, fulfillment-heavy AI/GPU projects boosts revenues but depresses average gross margins. These deals introduce structural margin dilution and greater quarter-to-quarter profitability volatility, complicating sustainable margin expansion even as AI demand grows.

Exposure to tariffs, price inflation, and deal lumpiness

External policy and pricing shocks, regional margin differentials, and the unpredictable timing of large enterprise deals increase revenue and margin volatility. These structural demand-elasticity and timing risks challenge forecasting and can compress results when SMB and regional channels react unevenly.

Ingram Micro Holding Corporation Business Overview & Revenue Model

Company Description

Ingram Micro Holding Corporation, through its subsidiaries, engages in the provision of technology services and solutions to vendor, reseller, and retailer partners in North America, Europe, the Middle East, Africa, the Asia-Pacific, Latin America, and internationally. The company provides Ingram Micro Cloud Marketplace service portfolio that consists of third-party cloud-based services or subscription offerings through its Ingram Micro Xvantage platform, as well as offers training, ITAD, reverse logistics, repair and other related solutions, and financial solutions. It also provides client and endpoint solutions, including desktop personal computers, notebooks, tablets, printers, application software, peripherals, accessories, and Ingram Micro branded solutions, as well as components comprising hard drives, motherboards, video cards, etc. for corporate and individual end users. In addition, the company offers enterprise grade hardware and software products, such as servers, storage, networking, infrastructure hardware and software, and hybrid and software-defined solutions, as well as cybersecurity, power and cooling, and virtualization solutions; and DC/POS, physical security, audio visual and digital signage, UCC and telephony, smart office/home automation, and artificial intelligence products. Further, it provides third-party cloud-based services and subscriptions, including business applications, security, communications and collaboration, cloud enablement solutions, and infrastructure-as-a-service solutions; and operates CloudBlue digital commerce platform that offers multi-channel and multi-tier catalog management, subscription management, billing, and orchestration solutions through a SaaS model. The company was founded in 1979 and is headquartered in Irvine, California.

How the Company Makes Money

Ingram Micro primarily makes money by acting as an intermediary in the technology supply chain: it purchases technology products and solutions from vendors and sells them to resellers and other channel partners, earning a gross margin (the spread between its purchase cost and selling price) on the large volume of transactions it processes. A second major source of revenue comes from value-added services tied to distribution, such as logistics and fulfillment (warehousing, shipping, returns processing), supply-chain and inventory management, and other channel enablement services that are billed through service fees and/or embedded in distribution economics. In addition, Ingram Micro participates in software and cloud go-to-market models by helping partners procure and manage subscriptions and related offerings; where applicable, it earns fees, commissions, or margins associated with those transactions. Key factors influencing earnings include the scale of its distribution network and operational efficiency, vendor and reseller relationships that drive volume, and the mix of higher-margin services relative to lower-margin product pass-through.

Ingram Micro Holding Corporation Financial Statement Overview

Summary

Balance sheet and cash flow are improving (much lower leverage in TTM and a rebound to positive free cash flow), but profitability is structurally thin (TTM net margin ~0.6%) and margins have recently compressed, keeping overall financial quality moderate.

Income Statement

TTM (Trailing-Twelve-Months) revenue grew ~3% to ~$52.6B, showing modest top-line momentum versus flattish 2024. Profitability is consistently thin (TTM gross margin ~6.7% and net margin ~0.6%), and margins have generally trended lower versus 2023–2024. Earnings are positive (TTM net income ~$328M), but the business appears highly volume-driven with limited margin cushion, making results more sensitive to pricing and costs.

Balance Sheet

Leverage improved sharply in TTM (debt-to-equity ~0.21) versus the prior three annual periods where it was around ~1.0–1.9, indicating a meaningfully de-risked capital structure. Equity is solid at ~$4.25B on ~$21.2B of assets, and return on equity is steady in the mid-single digits to low-teens range recently (TTM ~7%). Key watch-out: historical leverage was elevated and returns have been volatile (including an unusually high 2022 profit year), so consistency remains something to monitor.

Cash Flow

Cash generation improved materially in TTM with operating cash flow of ~$916M and free cash flow of ~$785M, both well above 2024 and a major rebound from negative free cash flow in 2021–2023. Free cash flow covers a large portion of earnings (TTM free cash flow is ~86% of net income), supporting earnings quality. However, cash flow has been choppy over the cycle, and TTM free cash flow growth is sharply negative versus the prior period (likely reflecting a tough comparison), highlighting volatility risk.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	52.56B	47.98B	48.04B	50.82B	54.46B
Gross Profit	3.50B	3.44B	3.55B	3.69B	4.11B
EBITDA	1.03B	1.10B	1.20B	3.43B	1.20B
Net Income	327.88M	264.22M	352.71M	2.39B	475.21M
Balance Sheet
Total Assets	21.24B	18.78B	18.42B	19.09B	19.80B
Cash, Cash Equivalents and Short-Term Investments	1.86B	918.40M	948.49M	1.32B	1.23B
Total Debt	908.95M	3.82B	4.40B	4.79B	5.16B
Total Liabilities	17.00B	15.05B	14.91B	16.03B	17.10B
Stockholders Equity	4.25B	3.73B	3.51B	3.06B	2.69B
Cash Flow
Free Cash Flow	785.37M	191.14M	-142.71M	-496.89M	-1.29B
Operating Cash Flow	916.13M	333.84M	58.82M	-361.11M	-1.16B
Investing Cash Flow	267.64M	105.54M	-17.71M	3.03B	-111.88M
Financing Cash Flow	-306.22M	-391.30M	-477.94M	-2.47B	1.58B

Ingram Micro Holding Corporation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 22.36
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INGM, the sentiment is Positive. The current price of 22.36 is above the 20-day moving average (MA) of 22.02, above the 50-day MA of 21.51, and above the 200-day MA of 20.86, indicating a bullish trend. The MACD of 0.22 indicates Positive momentum. The RSI at 51.24 is Neutral, neither overbought nor oversold. The STOCH value of 14.23 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for INGM.

Ingram Micro Holding Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INFY	80 Outperform	$54.08B	24.55	29.68%	2.58%	4.62%	1.06%
CTSH	68 Neutral	$29.33B	17.90	14.84%	1.46%	7.44%	-4.57%
INGM	67 Neutral	$5.26B	15.81	8.07%	1.39%	7.06%	-8.83%
WIT	67 Neutral	$21.68B	21.25	15.49%	2.78%	-1.97%	48.61%
CDW	65 Neutral	$15.15B	16.77	42.94%	1.81%	6.09%	-3.84%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
IT	61 Neutral	$11.41B	24.91	74.65%	―	5.24%	-16.05%

Ingram Micro Holding Corporation Corporate Events

Ingram Micro Announces Secondary Offering and Share Repurchase

On March 5, 2026, Ingram Micro Holding Corporation entered into an underwriting agreement under which its principal stockholder, Ingram Holdco, LLC, sold 8,988,764 shares of common stock in a secondary offering, with underwriters granted a 30-day option to purchase an additional 1,348,314 shares. The selling stockholder received all net proceeds while Ingram Micro covered certain offering costs, a move that increased the public float without raising primary capital for the company.

Concurrently on March 5, 2026, Ingram Micro executed a separate share repurchase agreement to buy back $75 million of its common stock directly from the selling stockholder at the underwriters’ net price, funded with cash on hand and completed alongside the offering’s closing. The coordinated secondary sale and issuer repurchase, conducted under the company’s existing buyback program, effectively facilitated liquidity for the sponsor while signaling capital-return discipline and potentially mitigating dilution for remaining shareholders.

The most recent analyst rating on (INGM) stock is a Buy with a $24.50 price target. To see the full list of analyst forecasts on Ingram Micro Holding Corporation stock, see the INGM Stock Forecast page.

Ingram Micro Posts Strong Q4 2025 Results, Guides Higher

Ingram Micro reported strong fiscal fourth quarter and full-year 2025 results on March 2, 2026, with Q4 net sales rising 11.5% year over year to $14.9 billion and full-year 2025 net sales up 9.5% to $52.6 billion, driven by growth across all regions and particularly robust double-digit gains in Asia Pacific. Operating expense leverage improved, GAAP net income and EPS increased markedly, and adjusted free cash flow reached $1.63 billion in the quarter, the highest in more than a decade, supporting a $0.082 per share cash dividend declared for payment on March 24, 2026, a voluntary $200 million term loan repayment made on February 20, 2026, and board approval of a share repurchase plan of up to $100 million through January 28, 2027, underscoring balance sheet strength and a shareholder-friendly capital allocation strategy.

Management highlighted the growing contribution of the Xvantage platform, through which a majority of net sales now flow, and signaled that its AI-driven capabilities and Enable AI program are enhancing operating efficiency and positioning the company for higher-margin, durable growth. For the fiscal first quarter of 2026, Ingram Micro guided to net sales of $12.45 billion to $12.80 billion and non-GAAP EPS growth of 10% to 23% year over year, indicating continued confidence in demand trends and the company’s ability to capitalize on technology investment cycles while returning capital to shareholders and deleveraging its balance sheet.

The most recent analyst rating on (INGM) stock is a Hold with a $22.50 price target. To see the full list of analyst forecasts on Ingram Micro Holding Corporation stock, see the INGM Stock Forecast page.