Ingram Micro Holding Corporation (INGM)
NYSE:INGM
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Ingram Micro Holding Corporation
(NYSE:INGM)
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Rating:67Neutral
Price Target:
$29.00
▲(6.74% Upside)
Action:ReiteratedDate: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 / Balance Sheet Strength
Material deleveraging and a stronger capital structure reduce refinancing and solvency risk. Lower net debt to adjusted EBITDA (improved from ~2.2x to ~1.0x) plus ~$4.25B equity on ~$21.2B assets gives flexibility to fund operations, invest in platform initiatives, and return capital over multiple quarters.
Negative Factors
Structurally Thin Margins
A low gross- and net-margin profile limits the company’s ability to absorb cost shocks or to fund extra investment out of incremental product sales. As a high-volume distributor, small pricing pressure or cost increases materially compress net income, making profitability sensitive across multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Deleveraging / Balance Sheet Strength
Material deleveraging and a stronger capital structure reduce refinancing and solvency risk. Lower net debt to adjusted EBITDA (improved from ~2.2x to ~1.0x) plus ~$4.25B equity on ~$21.2B assets gives flexibility to fund operations, invest in platform initiatives, and return capital over multiple quarters.
Read all positive factors
Ingram Micro Holding Corporation (INGM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.39B
Dividend Yield1.39%
Average Volume (3M)1.64M
Price to Earnings (P/E)15.8
Beta (1Y)1.27
Revenue Growth7.06%
EPS Growth-8.83%
CountryUS
Employees23,500
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)0.96
Shares Outstanding235,074,690
10 Day Avg. Volume1,364,578
30 Day Avg. Volume1,637,715
Financial Highlights & Ratios
PEG Ratio0.85
Price to Book (P/B)1.22
Price to Sales (P/S)0.10
P/FCF Ratio6.60
Enterprise Value/Market Cap0.85
Enterprise Value/Revenue0.10
Enterprise Value/Gross Profit1.55
Enterprise Value/Ebitda4.68
Forecast
1Y Price Target
$24.17Price Target Upside-11.04% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)3.19
Revenue Forecast (FY)$53.44B
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...
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 ...
Ingram Micro Holding Corporation Earnings Call Summary
Earnings Call Date:Mar 02, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The call highlights strong execution: robust revenue growth, record quarterly adjusted free cash flow, improved leverage and clear progress in the Xvantage platform and AI initiatives. These positives are tempered by margin compression driven by mix shift into lower-margin client/endpoint sales and AI/GPU fulfillment projects, regional margin differentials (APAC), and near-term uncertainty from tariffs, rising ASPs and potential lumpiness of large AI deals. Management provided conservative near-term guidance while articulating a pathway for margin recovery via mix improvement and platform-driven efficiencies.Positive Updates
Quarterly and Full-Year Revenue Growth
Q4 net sales $14.88B, up 11.5% year-over-year (9.1% FX-neutral). Full-year net sales $52.6B, up 9.5% from 2024 (9.0% FX-neutral). Growth was broad-based across all regions and customer categories, led by APAC and North America.
Negative Updates
Gross Margin Compression
Q4 gross profit margin was 6.50% (gross profit $966.4M), down 51 basis points YoY. Margin pressure driven primarily by heavier sales mix toward lower-margin client and endpoint solutions and larger share of Asia Pacific sales, which average ~250 basis points below company margins.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarterly and Full-Year Revenue Growth
Q4 net sales $14.88B, up 11.5% year-over-year (9.1% FX-neutral). Full-year net sales $52.6B, up 9.5% from 2024 (9.0% FX-neutral). Growth was broad-based across all regions and customer categories, led by APAC and North America.
Read all positive updates
Company Guidance
For Q1 2026 the company guided net sales of $12.45–$12.80 billion (≈+2.8% YoY at the midpoint), with segment assumptions of flat‑to‑low‑single‑digit growth in client & endpoint, low‑to‑mid‑single‑digit growth in advanced solutions, and double‑digit growth in cloud; gross profit was guided to $840–$895 million (roughly 6.87% gross margin at the midpoint, a ~38 bps sequential improvement vs Q4 2025 and ~12 bps improvement vs Q1 2025 at the midpoint), non‑GAAP diluted EPS $0.67–$0.75 (based on ~236 million weighted average shares and a 27% non‑GAAP tax rate), the guide assumes no material GPU deals in Q1, and management warned of a higher‑than‑seasonal cash outflow in Q1 due to very low working capital while reaffirming a goal to convert well over 30% of adjusted EBITDA to free cash flow across 2025–2026.Ingram Micro Holding Corporation Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
73
Positive
Cash Flow
61
Positive
| 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
Positive
27.17
Price Trends
22.47
Positive
21.91
Positive
21.26
Positive
Market Momentum
1.20
Negative
74.29
Negative
90.41
Negative
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 27.17 is above the 20-day moving average (MA) of 23.53, above the 50-day MA of 22.47, and above the 200-day MA of 21.26, indicating a bullish trend. The MACD of 1.20 indicates Negative momentum. The RSI at 74.29 is Negative, neither overbought nor oversold. The STOCH value of 90.41 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $56.30B | 24.55 | 29.68% | 2.58% | 4.62% | 1.06% | |
68 Neutral | $27.70B | 17.90 | 14.84% | 1.46% | 7.44% | -4.57% | |
67 Neutral | $6.39B | 15.81 | 8.07% | 1.39% | 7.06% | -8.83% | |
67 Neutral | $23.06B | 21.25 | 15.49% | 2.78% | -1.97% | 48.61% | |
65 Neutral | $16.19B | 16.77 | 42.94% | 1.81% | 6.09% | -3.84% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $10.13B | 24.91 | 74.65% | ― | 5.24% | -16.05% |
* Technology Sector Average
INGM
Ingram Micro Holding Corporation
27.17
11.68
75.36%
CTSH
Cognizant
57.92
-11.65
-16.74%
IT
Gartner
143.72
-264.24
-64.77%
INFY
Infosys
13.29
-3.30
-19.91%
WIT
Wipro
2.17
-0.57
-20.72%
CDW
CDW
125.53
-23.71
-15.88%
Ingram Micro Holding Corporation Corporate Events
Stock BuybackPrivate Placements and FinancingRegulatory Filings and Compliance
Ingram Micro Announces Secondary Offering and Share Repurchase
Positive
Mar 9, 2026
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 ...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Ingram Micro Posts Strong Q4 2025 Results, Guides Higher
Positive
Mar 2, 2026
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 regio...
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.