The Andersons, Inc.
- Open
- 67.15
- Day high
- 71.27
- Day low
- 67.04
- Prev close
- 67.26
- Volume
- 675K
- Mkt cap
- $2.4B
- P/E (TTM)
- 13.6
- EPS (TTM)
- $5.21
- P/B
- 1.8
- P/S
- 0.2
- Yield
- 1.12%
- Per share
- $0.80
- ▼Insiders net selling -$418K over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
The Andersons, Inc. (ANDE) is a Consumer Defensive company listed on NASDAQ. The stock is up 72% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
The Andersons, Inc. (ANDE) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ANDE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 4, 2026 | $1.48 | $1.66 | +12.2% | $3.1B | -5.5% |
| May 6, 2026 | $0.70 | $1.12 | +60.0% | $2.6B | -2.9% |
| Feb 17, 2026 | $0.52 | $2.04 | +292.3% | $2.5B | -5.8% |
| Nov 4, 2025 | $1.52 | $0.84 | -44.7% | $2.7B | -18.4% |
| Feb 18, 2025 | $1.02 | $1.36 | +33.3% | $3.1B | +10.1% |
| Feb 20, 2024 | $0.99 | $1.59 | +60.6% | $3.2B | -24.6% |
| Aug 1, 2023 | $1.09 | $1.52 | +39.4% | $4.0B | -2.8% |
| May 2, 2023 | $0.17 | $0.20 | +17.6% | $3.9B | -9.5% |
| Feb 14, 2023 | $0.40 | $0.98 | +145.0% | $4.7B | +9.2% |
| Nov 1, 2022 | $0.33 | $0.50 | +51.5% | $4.2B | +27.3% |
| Aug 2, 2022 | $0.98 | $2.39 | +143.9% | $4.5B | +21.5% |
| May 3, 2022 | $0.62 | $0.18 | -71.0% | $4.0B | +40.8% |
ANDE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 26, 2026 | Heppner David Rdirector | Grant | 37 | — |
| Aug 5, 2026 | Heppner David Rdirector | Grant | 283 | — |
| Jul 27, 2026 | Hershberger Pamela Sdirector | Grant | 9 | — |
| Jul 27, 2026 | Douglas Gary A.director | Grant | 6 | — |
| Jul 27, 2026 | Hershberger Pamela Sdirector | Grant | 8 | — |
| Jul 27, 2026 | Bowe Patrick E.director | Sell | 3,534 | $80.53 |
| Jul 27, 2026 | Hershberger Pamela Sdirector | Grant | 6 | — |
| Jul 27, 2026 | Douglas Gary A.director | Grant | 8 | — |
| Jun 25, 2026 | Heppner David Rdirector | Grant | 1,651 | — |
| Jun 25, 2026 | Heppner David Rdirector | Grant | 194 | — |
| Jun 5, 2026 | Rex Anne Gofficer: VP, Strategy, Planning and Dev | Sell | 1,827 | $73.10 |
| May 8, 2026 | MANIRE ROSS Wdirector | Grant | 39 | — |
| May 8, 2026 | OAKLAND STEVENdirector | Grant | 23 | — |
| May 8, 2026 | KILBANE CATHERINE Mdirector | Option | 3,376 | — |
| May 8, 2026 | MANIRE ROSS Wdirector | Option | 3,376 | — |
Source: ANDE SEC Form 4 filings, latest Aug 26, 2026. For informational purposes only — not investment advice.
See the full ANDE insider & 13F page →The Andersons, Inc. company profile
Overview
The Andersons, Inc. (NASDAQ:ANDE) is an agriculture-focused company founded in 1947 and headquartered in Maumee, Ohio. The company went public in 1996 and has evolved from its origins into a diversified agricultural enterprise operating across the grain supply chain, renewable fuel production, and plant nutrition sectors. The Andersons serves as a critical intermediary in the agricultural value chain, connecting farmers and producers with end markets both domestically and internationally.
Business
The Andersons operates in the agricultural commodities and services industry through two primary business segments following a recent restructuring: **Agribusiness Segment** (approximately 75-80% of total revenue): This segment encompasses the company's traditional grain trading operations and plant nutrition business. The grain trading component operates grain elevators and storage facilities, providing grain marketing, risk management, and origination services to farmers and affiliated ethanol facilities. The company also engages in commodity merchandising, handling physical logistics for whole grains, grain products, feed ingredients, domestic fuel products, and other agricultural commodities. The plant nutrient portion manufactures, distributes, and retails agricultural fertilizers, crop protection chemicals, seed products, and specialty agricultural inputs like pelleted lime and gypsum. This segment also produces corncob-based products for industrial applications including laboratory animal bedding, cat litter, and various absorbent materials. **Renewables Segment** (approximately 20-25% of total revenue): This segment focuses on ethanol production and related biofuel operations. The company produces, purchases, and sells ethanol and co-products, while providing facility operations, risk management, and marketing services to ethanol plants it invests in and operates. The Andersons has been expanding its renewable diesel feedstock trading capabilities and exploring opportunities in sustainable aviation fuel production as part of the growing renewable energy transition. The agricultural commodities industry is characterized by seasonal patterns, weather dependency, and significant price volatility driven by global supply and demand dynamics, trade policies, and weather conditions affecting crop yields.
Revenue model
The Andersons generates revenue through multiple complementary business models across its agricultural value chain operations. In the **Agribusiness segment**, the company earns income through grain trading margins, storage and handling fees, and retail sales of agricultural inputs. The grain trading operation profits from buying grain from farmers at local basis prices and selling to end users at premium prices, capturing the spread between purchase and sale prices. The company also earns storage fees for holding commodities and provides risk management services. The plant nutrition business operates on traditional wholesale and retail margins, selling fertilizers, chemicals, and other agricultural inputs to farmers. The **Renewables segment** generates revenue primarily through ethanol production margins, capturing the spread between corn input costs and ethanol selling prices, plus valuable co-products like dried distillers grains. The company also provides facility management and marketing services to ethanol plants, earning service fees and trading margins. Key factors that positively impact margins include volatile commodity markets that create trading opportunities, strong global grain demand, favorable ethanol export markets, and tight agricultural supply conditions. Conversely, margins face pressure from reduced commodity price volatility, weak global grain demand, high input costs (particularly corn for ethanol production), increased competition in agricultural services, and adverse weather conditions affecting crop yields. The company's performance is also sensitive to trade policies, tariffs, and regulatory changes affecting agricultural exports and renewable fuel standards. Transportation costs and logistics constraints can significantly impact profitability, particularly for the grain trading operations that depend on efficient movement of commodities to export terminals and end markets.
Competitive moat
The Andersons possesses a **moderate moat** primarily built on strategic infrastructure assets and operational expertise rather than strong competitive barriers. The company's grain elevator network and storage facilities represent valuable physical infrastructure that provides geographic advantages in key agricultural regions, particularly in the Eastern Corn Belt. These assets create switching costs for farmers who rely on convenient grain delivery locations and established relationships for marketing their crops. The company's operational expertise in commodity trading, risk management, and agricultural logistics provides some competitive advantages, as these skills require specialized knowledge and experience that takes time to develop. The integrated nature of operations across grain handling, ethanol production, and agricultural inputs creates some synergies and operational efficiencies that competitors may find difficult to replicate. However, the moat is not particularly strong or durable. The agricultural commodities business is inherently competitive with numerous players at various scales, from large agribusiness conglomerates like Cargill and ADM to regional competitors. Barriers to entry in grain trading are relatively low, and the company faces ongoing competition from both established players and new entrants. The ethanol industry has experienced overcapacity issues and faces long-term uncertainty regarding renewable fuel mandates and the transition to electric vehicles. Additionally, the company's reliance on commodity price volatility for trading profits makes earnings inherently cyclical and unpredictable. The lack of proprietary technology or unique products limits the company's ability to command premium pricing or defend market share against aggressive competitors.
Risks & safety
The Andersons maintains a **moderate margin of safety** with generally solid financial fundamentals but some areas of concern: **Liquidity and Solvency:** - Strong cash position of $219 million as of Q1 2025 - Current ratio of 1.76x indicates adequate short-term liquidity - Debt-to-equity ratio of 0.64x represents manageable leverage levels - Negative free cash flow of -$397 million in Q1 2025 due to seasonal working capital build **Valuation Metrics:** - Trading at 10.5x EV/EBITDA based on recent quarters - Price-to-book ratio of 1.08x suggests reasonable valuation relative to assets - Graham number of 2.73 indicates potential undervaluation from a value perspective **Other Considerations:** - Seasonal cash flow patterns typical for agricultural businesses create temporary liquidity pressures - Commodity price exposure creates earnings volatility - Capital intensive business requiring ongoing maintenance and growth investments - Strong balance sheet provides flexibility for strategic acquisitions and growth initiatives
Recent development
Over the past few years, The Andersons has pursued several key strategic initiatives focused on growth and operational efficiency. The company **restructured its operations** from three segments (Trade, Renewables, and Nutrient & Industrial) into two segments (Agribusiness and Renewables) to improve cross-functional collaboration and operational efficiency. **Major acquisitions** have been central to the growth strategy, including the $85 million acquisition of a 65% stake in **Skyland Grain** in late 2024, which management expects to contribute $30-40 million in annual EBITDA. The company also invested $70 million in a **Port of Houston export facility** to enhance its grain export capabilities. Earlier acquisitions included Bridge Agri, Mote Farm Service, and Reed and Perrine to expand geographic reach and product offerings. The **Renewables segment** has focused on improving operational efficiency and reducing carbon intensity of ethanol production. The company achieved record ethanol production levels and has been exploring **carbon sequestration opportunities** at its eastern plants. Management is also investigating **sustainable aviation fuel (SAF)** opportunities and expanding renewable diesel feedstock trading capabilities. **Financial targets** have been progressively raised, with the company initially setting a 2025 EBITDA target of $375-400 million, which was increased to $475 million after exceeding the original target early. The company maintains a strong balance sheet with over $500 million in cash to support continued growth investments and potential acquisitions. Management has indicated they are actively evaluating additional **ethanol plant acquisitions** and other strategic opportunities across both business segments.
ANDE company profile · for informational purposes only — not investment advice.
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