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The Andersons
(NASDAQ:ANDE)
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Rating:65Neutral
Price Target:
$71.00
▲(8.83% Upside)
Action:Reiterated
Date:08/04/26
ANDE’s score is primarily supported by improved financial quality (notably a stronger balance sheet and better earnings/FCF versus 2025) and a strong, target-backed earnings call highlighting record renewables performance and disciplined leverage. These positives are moderated by weak near-term technicals and the fundamental risk of sharply declining TTM revenue and volatile cash-flow conversion, while valuation appears fair rather than compelling.
Positive Factors
Stronger balance sheet
Substantially lower leverage gives The Andersons greater financial flexibility to fund growth projects, withstand agricultural volatility, and pursue organic or M&A opportunities. A sizable equity base and solid TTM ROE further support resilience, although maintaining this improvement remains important.
Negative Factors
Declining revenue and thin margins
A sharp TTM revenue decline combined with low net and EBITDA margins leaves limited room for weaker volumes, pricing or spreads to be absorbed. The rebound in earnings is encouraging, but sustained growth will require improved top-line momentum and durable margin performance.
Read all positive and negative factors
Positive Factors
Negative Factors
Stronger balance sheet
Substantially lower leverage gives The Andersons greater financial flexibility to fund growth projects, withstand agricultural volatility, and pursue organic or M&A opportunities. A sizable equity base and solid TTM ROE further support resilience, although maintaining this improvement remains important.
Read all positive factors
The Andersons Key Performance Indicators (KPIs)
Any
Revenue by Geography
Shows where The Andersons generates sales across regions, revealing dependence on domestic versus export markets and regional agricultural cycles. Geographic concentration can increase exposure to local weather, crop conditions, and policy changes, while broader diversification can smooth seasonal swings and open new growth avenues. Watch shifts in the mix to see where revenue growth or country-specific risks are emerging.
Shows where The Andersons generates sales across regions, revealing dependence on domestic versus export markets and regional agricultural cycles. Geographic concentration can increase exposure to local weather, crop conditions, and policy changes, while broader diversification can smooth seasonal swings and open new growth avenues. Watch shifts in the mix to see where revenue growth or country-specific risks are emerging.
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The Fly
The FlyThe Andersons (ANDE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.23B
Dividend Yield1.22%
Average Volume (3M)344.44K
Price to Earnings (P/E)12.6
Beta (1Y)0.17
Revenue Growth-5.20%
EPS Growth120.12%
CountryUS
Employees2,028
SectorConsumer Defensive
Sector Strength42
IndustryAgricultural Farm Products
Share Statistics
EPS (TTM)5.21
Shares Outstanding33,975,570
10 Day Avg. Volume325,880
30 Day Avg. Volume344,436
Financial Highlights & Ratios
PEG Ratio-1.17
Price to Book (P/B)1.45
Price to Sales (P/S)0.16
P/FCF Ratio-32.22
Enterprise Value/Market Cap1.44
Enterprise Value/Revenue0.29
Enterprise Value/Gross Profit3.74
Enterprise Value/Ebitda9.42
Forecast
1Y Price Target
$93.75Price Target Upside43.70% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)5.5
Revenue Forecast (FY)$11.77B
The Andersons Business Overview & Revenue Model
Company Description
The Andersons, Inc. is a diversified company rooted in agriculture, conducting business in commodity merchandising, renewables, and plant nutrient sectors. The company's operations include purchasing, storing, and selling grain, as well as manufac...
How the Company Makes Money
The Andersons makes money mainly by participating in the agricultural supply chain through a mix of merchandising, logistics, and agricultural input sales. A core revenue stream comes from grain and commodity merchandising: the company purchases g...
The Andersons Earnings Call Summary
Earnings Call Date:Aug 03, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
The call conveyed a strongly positive near-term operating and financial picture driven by record renewables production, materially improved earnings and cash flow, disciplined capital deployment and a healthy balance sheet. Management acknowledged several risks — notably weather in the Western Corn Belt, market volatility, competitive pressure from Brazilian ethanol, maintenance cadence and regulatory/geopolitical uncertainties — but indicated these are being managed and do not materially change the company's ability to execute on growth projects or the long-range EPS target.Positive Updates
Strong Earnings and EPS Improvement
Adjusted net income of $74M ($2.15 adjusted EPS) in Q2 2026 vs $8M ($0.24) in Q2 2025 — adjusted net income increased ~825% and adjusted EPS increased ~796% year-over-year; GAAP net income attributable of $57M ($1.65).
Negative Updates
Weather-Driven Crop & Regional Weakness
Dry conditions in much of the Western Corn Belt, including a notably small Kansas wheat crop and reduced hard wheat volumes in Skyland region; volume risk and year-to-date crop variability create uncertainty for Agribusiness origination and merchandising.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Earnings and EPS Improvement
Adjusted net income of $74M ($2.15 adjusted EPS) in Q2 2026 vs $8M ($0.24) in Q2 2025 — adjusted net income increased ~825% and adjusted EPS increased ~796% year-over-year; GAAP net income attributable of $57M ($1.65).
Read all positive updates
Company Guidance
The company reiterated several quantitative expectations and targets: a full-year adjusted effective tax rate of 14%–18%; full-year capital spending of about $225 million (excluding acquisitions) with Q2 capex of $76 million (vs. $49M in Q2 2025) and long‑term growth capital on track; 45Z tax credits expected roughly $90M–$100M for 2026 (Q2 realized $24M; Q2/Q3 likely slightly lower with Q1/Q4 higher); long‑term debt/EBITDA at 1.3x (well below the <2.5x target); a long‑range run‑rate EPS goal of $7.00 by end of 2028 (trailing 12‑month EPS has already exceeded $6.00); Q2 adjusted EBITDA of $140M and adjusted net income of $74M ($2.15 per diluted share), net income attributable $57M ($1.65/sh); cash flow from operations before working capital changes of $113M in Q2 (vs. $43M LY); and continued expectations for increased renewables production, strong ethanol exports, and ongoing merchandising opportunities.The Andersons Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
74
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.94B | 11.01B | 11.26B | 14.75B | 17.33B | 12.61B |
| Gross Profit | 860.98M | 713.65M | 687.31M | 831.94M | 670.63M | 441.64M |
| EBITDA | 341.41M | 321.95M | 359.75M | 341.54M | 386.30M | 378.27M |
| Net Income | 177.32M | 95.71M | 114.01M | 101.19M | 131.08M | 103.99M |
Balance Sheet | ||||||
| Total Assets | 3.47B | 3.71B | 4.12B | 3.86B | 4.61B | 4.57B |
| Cash, Cash Equivalents and Short-Term Investments | 66.55M | 98.28M | 561.77M | 643.85M | 115.27M | 216.44M |
| Total Debt | 900.76M | 1.04B | 876.22M | 665.29M | 912.39M | 1.17B |
| Total Liabilities | 2.12B | 2.42B | 2.52B | 2.34B | 3.18B | 3.26B |
| Stockholders Equity | 1.32B | 1.24B | 1.37B | 1.28B | 1.20B | 1.07B |
Cash Flow | ||||||
| Free Cash Flow | 56.91M | -56.13M | 182.32M | 796.31M | 147.38M | -132.85M |
| Operating Cash Flow | 321.94M | 177.00M | 331.51M | 946.75M | 287.12M | -51.05M |
| Investing Cash Flow | -667.87M | -195.31M | -163.07M | -153.88M | -52.90M | 487.25M |
| Financing Cash Flow | 62.63M | -447.15M | -250.36M | -263.99M | -334.73M | -248.77M |
The Andersons Technical Analysis
Negative
65.24
Price Trends
67.24
Negative
69.31
Negative
68.60
Negative
Market Momentum
-0.73
Positive
44.46
Neutral
37.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ANDE, the sentiment is Negative. The current price of 65.24 is below the 20-day moving average (MA) of 65.93, below the 50-day MA of 67.24, and below the 200-day MA of 68.60, indicating a bearish trend. The MACD of -0.73 indicates Positive momentum. The RSI at 44.46 is Neutral, neither overbought nor oversold. The STOCH value of 37.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ANDE.
The Andersons Risk Analysis
The Andersons disclosed 23 risk factors in its most recent earnings report. The Andersons reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
The Andersons Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.23B | 12.61 | 14.15% | 1.22% | -5.20% | 120.12% | |
64 Neutral | $38.78B | 21.74 | 7.73% | 2.61% | -0.79% | 60.09% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
59 Neutral | $19.79B | 19.70 | 6.33% | 2.78% | 80.50% | -48.63% | |
56 Neutral | $1.37B | 145.80 | 3.03% | 3.12% | 7.20% | -10.41% | |
41 Neutral | $10.87M | -0.15 | 224.04% | ― | -99.94% | -1172.55% |
* Consumer Defensive Sector Average
ANDE
The Andersons
65.10
19.10
41.52%
AGRO
Adecoagro SA
9.83
2.20
28.80%
ADM
Archer Daniels Midland
79.84
19.11
31.46%
BG
Bunge Global
103.15
8.88
9.42%
SDOT
Sadot Group
7.37
-114.53
-93.95%
AFRI
Forafric Global
12.07
3.09
34.41%
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.