Ingram Micro Holding Corporation (INGM)
NYSE:INGM
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Ingram Micro Holding Corporation
(NYSE:INGM)
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Rating:70Outperform
Price Target:
$31.00
▲(4.03% Upside)
Action:ReiteratedDate:05/02/26
INGM scores well on improving financial stability and cash generation plus a positive earnings outlook, but the overall score is capped by structurally thin margins and overbought technical signals that elevate near-term pullback risk. Reasonable valuation provides additional support.
Positive Factors
Improved cash generation
TTM operating cash flow and nearly $1B of FCF with +24.7% FCF growth indicate structurally stronger cash conversion. Sustained cash generation supports investment in automation, dividend/buybacks, and buffers seasonality, improving long-term financial flexibility.
Negative Factors
Very thin operating and net margins
Sub-2% operating margins and ~0.7% net margins leave earnings highly sensitive to small pricing, cost, or mix shifts. Thin structural profitability constrains retained earnings, limits cushion for downturns, and reduces the leverage benefit of revenue growth over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation
TTM operating cash flow and nearly $1B of FCF with +24.7% FCF growth indicate structurally stronger cash conversion. Sustained cash generation supports investment in automation, dividend/buybacks, and buffers seasonality, improving long-term financial flexibility.
Read all positive factors
Ingram Micro Holding Corporation (INGM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.47B
Dividend Yield1.39%
Average Volume (3M)1.35M
Price to Earnings (P/E)13.2
Beta (1Y)1.30
Revenue Growth10.87%
EPS Growth27.94%
CountryUS
Employees23,500
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)0.75
Shares Outstanding231,646,530
10 Day Avg. Volume1,258,020
30 Day Avg. Volume1,354,441
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 Cap1.05
Enterprise Value/Revenue0.13
Enterprise Value/Gross Profit1.89
Enterprise Value/Ebitda5.26
Forecast
1Y Price Target
$28.83Price Target Upside-3.24% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)3.2
Revenue Forecast (FY)$53.59B
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:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 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
62
Positive
Balance Sheet
74
Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 54.24B | 52.56B | 47.98B | 48.04B | 50.82B | 54.46B |
| Gross Profit | 3.60B | 3.50B | 3.44B | 3.55B | 3.69B | 4.11B |
| EBITDA | 1.29B | 1.26B | 1.10B | 1.20B | 3.43B | 1.20B |
| Net Income | 357.56M | 327.88M | 264.22M | 352.71M | 2.39B | 475.21M |
Balance Sheet | ||||||
| Total Assets | 20.95B | 21.24B | 18.78B | 18.42B | 19.09B | 19.80B |
| Cash, Cash Equivalents and Short-Term Investments | 915.99M | 1.86B | 918.40M | 948.49M | 1.32B | 1.23B |
| Total Debt | 1.25B | 908.95M | 3.82B | 4.40B | 4.79B | 5.16B |
| Total Liabilities | 16.74B | 17.00B | 15.05B | 14.91B | 16.03B | 17.10B |
| Stockholders Equity | 4.20B | 4.25B | 3.73B | 3.51B | 3.06B | 2.69B |
Cash Flow | ||||||
| Free Cash Flow | 1.36M | 785.37M | 191.14M | -142.71M | -496.89M | -1.29B |
| Operating Cash Flow | 138.68M | 916.13M | 333.84M | 58.82M | -361.11M | -1.16B |
| Investing Cash Flow | 233.59M | 267.64M | 105.54M | -17.71M | 3.03B | -111.88M |
| Financing Cash Flow | -360.52M | -306.22M | -391.30M | -477.94M | -2.47B | 1.58B |
Ingram Micro Holding Corporation Technical Analysis
Positive
29.80
Price Trends
23.22
Positive
22.35
Positive
21.46
Positive
Market Momentum
1.82
Negative
81.72
Negative
94.00
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 29.8 is above the 20-day moving average (MA) of 25.23, above the 50-day MA of 23.22, and above the 200-day MA of 21.46, indicating a bullish trend. The MACD of 1.82 indicates Negative momentum. The RSI at 81.72 is Negative, neither overbought nor oversold. The STOCH value of 94.00 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 | $50.49B | 14.68 | 31.77% | 2.58% | 4.85% | 6.19% | |
71 Outperform | $24.84B | 11.05 | 14.79% | 1.46% | 6.55% | -3.10% | |
70 Outperform | $6.47B | 13.17 | 8.07% | 1.39% | 10.87% | 27.94% | |
66 Neutral | $22.15B | 15.72 | 15.03% | 2.78% | -0.55% | -3.97% | |
65 Neutral | $17.41B | 16.77 | 42.94% | 1.81% | 6.79% | 0.87% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $9.88B | 24.91 | 74.65% | ― | 3.67% | -40.00% |
* Technology Sector Average
INGM
Ingram Micro Holding Corporation
27.91
9.77
53.82%
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INFY
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CDW
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136.03
-26.98
-16.55%
Ingram Micro Holding Corporation Corporate Events
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...
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.