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Ingram Micro Holding Corporation
(NYSE:INGM)
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Rating:65Neutral
Price Target:
$33.00
▲(12.09% Upside)
Action:Reiterated
Date:07/31/26
INGM scores 65 primarily due to improving but still mid-range fundamentals: deleveraging and stronger recent cash generation are offset by structurally thin margins and historical volatility. Technicals add support with price trading above key moving averages. Valuation is reasonable (P/E ~19.8) with a modest dividend yield (~1.1%). The latest earnings call was broadly positive with solid growth and EPS momentum, but highlighted ongoing mix-driven margin pressure, seasonal cash outflow, and supply/geopolitical risks.
Positive Factors
Improving leverage and balance-sheet health
Material deleveraging over multiple years has meaningfully improved financial flexibility. Lower absolute debt and sub-1x debt-to-equity reduce refinancing and solvency risk, enabling capacity for buybacks, dividends and investment in digital platforms without levering the company cyclically.
Negative Factors
Structurally thin gross and net margins
Distribution-heavy business with low single-digit gross margins constrains profit insulation against cost inflation or adverse pricing. Thin margins limit retained earnings, reducing capacity to absorb shocks and making long-term EPS growth highly sensitive to mix and cost control.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving leverage and balance-sheet health
Material deleveraging over multiple years has meaningfully improved financial flexibility. Lower absolute debt and sub-1x debt-to-equity reduce refinancing and solvency risk, enabling capacity for buybacks, dividends and investment in digital platforms without levering the company cyclically.
Read all positive factors
Ingram Micro Holding Corporation (INGM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.51B
Dividend Yield1.15%
Average Volume (3M)1.59M
Price to Earnings (P/E)15.3
Beta (1Y)1.20
Revenue Growth11.54%
EPS Growth61.84%
CountryUS
Employees22,200
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)1.84
Shares Outstanding230,661,910
10 Day Avg. Volume1,155,630
30 Day Avg. Volume1,586,975
Financial Highlights & Ratios
PEG Ratio0.85
Price to Book (P/B)1.22
Price to Sales (P/S)0.10
P/FCF Ratio6.62
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$32.60Price Target Upside10.73% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)3.38
Revenue Forecast (FY)$57.76B
Ingram Micro Holding Corporation Business Overview & Revenue Model
Company Description
Ingram Micro Holding Corporation, operating globally through its various subsidiaries, delivers a broad spectrum of technology services and solutions. Its client base spans vendors, resellers, and retailers across regions such as North America, Eu...
How the Company Makes Money
Ingram Micro primarily makes money by acting as an intermediary in the IT supply chain, purchasing technology products and solutions from vendors and selling them to downstream channel partners (e.g., resellers, integrators, MSPs, and retailers). ...
Ingram Micro Holding Corporation Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Positive
The call presented a largely positive operational and strategic picture: robust top-line growth (13.7% YoY), strong Cloud and Advanced Solutions performance, meaningful AI-driven productivity and conversion gains from the Xvantage platform, profitable EPS expansion (+23%), and improved leverage on the balance sheet (net-debt/EBITDA improved to 1.7x). Offsetting items include gross margin pressure from low-margin large GPU/AI deals (~35 bps drag), a seasonal adjusted free cash flow outflow of $962M, supply-driven ASP inflation and some project deferrals, and a more moderate Q2 growth guide. Overall, the company appears to be scaling its digital/AI platform successfully while navigating industry supply constraints and temporary margin mix effects.Positive Updates
Strong Top-Line Growth
Net sales of $13.96 billion, up 13.7% year-over-year (10% FX-neutral). All four regions delivered double-digit U.S. dollar growth in Q1, led by North America (~$5.0B) and APAC (~$4.1B). Q2 net sales guidance of $13.6B–$14.0B implies ~8% year-over-year growth at the midpoint.
Negative Updates
Gross Margin Compression from AI/GPU Mix
Reported gross margin was 6.63%, down 12 basis points YoY. Mix shift to low-margin GPU and AI infrastructure deals reduced gross margin by ~35 basis points; management estimates gross margin would have been roughly ~7.0% excluding those deals.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Top-Line Growth
Net sales of $13.96 billion, up 13.7% year-over-year (10% FX-neutral). All four regions delivered double-digit U.S. dollar growth in Q1, led by North America (~$5.0B) and APAC (~$4.1B). Q2 net sales guidance of $13.6B–$14.0B implies ~8% year-over-year growth at the midpoint.
Read all positive updates
Company Guidance
For Q2 2026 management guided net sales of $13.6–$14.0 billion (about +8% year‑over‑year at the midpoint), gross profit of $905–$950 million (≈+8%–13% YoY, and implying sequential and YoY gross margin expansion), and non‑GAAP diluted EPS of $0.68–$0.78 (≈+11%–28% YoY), assuming 232.7 million weighted average shares and a non‑GAAP tax rate of 27%; the outlook assumes Cloud will continue to lead with healthy double‑digit growth (IaaS strength), Advanced Solutions will grow high single digits, CES will grow low single digits, and memory supply constraints will have a similar impact as Q1 (management estimated a ~2%–3% net‑sales net benefit in Q1 from pricing/pull‑forward dynamics); the guide also incorporates a potential $0.01–$0.03 per‑share negative impact from Middle East volatility, and management reiterated SG&A target of <5% of net sales for fiscal 2026.Ingram Micro Holding Corporation Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
66
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 55.98B | 52.56B | 47.98B | 48.04B | 50.82B | 54.46B |
| Gross Profit | 3.72B | 3.50B | 3.44B | 3.55B | 3.69B | 4.11B |
| EBITDA | 1.30B | 1.16B | 1.10B | 1.20B | 3.43B | 1.20B |
| Net Income | 430.60M | 327.88M | 264.22M | 352.71M | 2.39B | 475.21M |
Balance Sheet | ||||||
| Total Assets | 21.53B | 21.24B | 18.78B | 18.42B | 19.09B | 19.80B |
| Cash, Cash Equivalents and Short-Term Investments | 808.97M | 1.86B | 918.40M | 948.49M | 1.32B | 1.23B |
| Total Debt | 4.24B | 3.66B | 3.82B | 4.40B | 4.79B | 5.16B |
| Total Liabilities | 17.25B | 17.00B | 15.05B | 14.91B | 16.03B | 17.10B |
| Stockholders Equity | 4.28B | 4.25B | 3.73B | 3.51B | 3.06B | 2.69B |
Cash Flow | ||||||
| Free Cash Flow | -231.59M | 785.37M | 191.14M | -142.71M | -496.89M | -1.29B |
| Operating Cash Flow | -96.58M | 916.13M | 333.84M | 58.82M | -361.11M | -1.16B |
| Investing Cash Flow | 185.84M | 267.64M | 105.54M | -17.71M | 3.03B | -111.88M |
| Financing Cash Flow | -131.64M | -306.22M | -391.30M | -477.94M | -2.47B | 1.58B |
Ingram Micro Holding Corporation Technical Analysis
Negative
29.44
Price Trends
28.60
Negative
27.31
Positive
24.39
Positive
Market Momentum
0.24
Positive
43.89
Neutral
40.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INGM, the sentiment is Negative. The current price of 29.44 is above the 20-day moving average (MA) of 29.01, above the 50-day MA of 28.60, and above the 200-day MA of 24.39, indicating a neutral trend. The MACD of 0.24 indicates Positive momentum. The RSI at 43.89 is Neutral, neither overbought nor oversold. The STOCH value of 40.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for INGM.
Ingram Micro Holding Corporation Risk Analysis
Ingram Micro Holding Corporation disclosed 54 risk factors in its most recent earnings report. Ingram Micro Holding Corporation reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ingram Micro Holding Corporation Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $24.93B | 11.88 | 14.94% | 2.82% | 5.64% | -5.39% | |
75 Outperform | $48.17B | 14.45 | 33.03% | 4.71% | -0.64% | 5.69% | |
68 Neutral | $10.11B | 14.89 | 119.81% | ― | 2.30% | -37.31% | |
65 Neutral | $6.51B | 15.33 | 10.23% | 1.10% | 11.54% | 61.84% | |
65 Neutral | $19.08B | 14.54 | 15.58% | 1.11% | -0.12% | -7.87% | |
65 Neutral | $18.88B | 17.92 | 42.37% | 1.88% | 7.41% | 1.33% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
INGM
Ingram Micro Holding Corporation
29.23
10.28
54.22%
CTSH
Cognizant
56.13
-12.32
-18.00%
IT
Gartner
185.79
-58.14
-23.83%
INFY
Infosys
12.60
-3.11
-19.78%
WIT
Wipro
2.05
-0.54
-20.94%
CDW
CDW
154.00
-8.11
-5.00%
Ingram Micro Holding Corporation Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
Ingram Micro Raises Dividend Following Record Quarterly Results
Positive
Jul 30, 2026
On June 15, 2026, an affiliate of Platinum Equity completed a block trade of 5,167,069 Ingram Micro shares at $29.03 apiece, with the company itself neither selling stock nor receiving proceeds, leaving Platinum Equity and its vehicles with about ...
Executive/Board ChangesShareholder Meetings
Ingram Micro Shareholders Back Directors, Pay and Auditor
Positive
May 14, 2026
On May 13, 2026, Ingram Micro Holding Corporation held its annual meeting of stockholders virtually, where shareholders elected Bryan Kelln, Mary Ann Sigler, Sharon Wienbar, and Eric Worley as directors to serve until the 2029 annual meeting or un...
Business Operations and StrategyStock BuybackPrivate Placements and Financing
Ingram Micro Announces Secondary Offering and Share Repurchase
Positive
May 7, 2026
On May 5, 2026, Ingram Micro Holding Corporation entered into an underwriting agreement enabling principal shareholder Ingram Holdco, LLC to sell 12,740,384 shares of common stock in a secondary offering, with underwriters exercising a 30-day opti...
Stock BuybackDividendsFinancial Disclosures
Ingram Micro Boosts Dividend and Expands Buyback Program
Positive
Apr 30, 2026
On April 30, 2026, Ingram Micro declared a cash dividend of $0.084 per share on its common stock, payable May 26 to shareholders of record on May 12, marking a 2.4% sequential and 10.5% year-over-year increase as part of its capital return strateg...
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.