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Ingram Micro Holding Corporation
(NYSE:INGM)
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Rating:62Neutral
Price Target:
$28.00
▼(-3.51% Downside)
Action:Reiterated
Date:09/15/26
INGM scores as a moderate opportunity. The biggest positives are improving financial footing (material debt reduction and stronger recent cash generation) and a bullish earnings call with record performance and confident Q3 guidance. These are partly offset by structurally thin margins and historical earnings/cash-flow volatility, while technical indicators point to weak near-term price momentum despite reasonable valuation.
Positive Factors
AI-enabled platform differentiation
Xvantage and its AI workflows are embedding Ingram Micro more deeply in customer operations, increasing self-service, order values, and conversion. This proprietary platform can improve partner retention, operating efficiency, and monetization over multiple quarters as adoption expands.
Negative Factors
Structurally thin profitability
The intermediary distribution model produces a narrow profit spread, so modest pricing pressure, cost inflation, or unfavorable mix can materially affect earnings. Thin margins also leave less room to absorb execution setbacks than higher-margin technology businesses.
Read all positive and negative factors
Positive Factors
Negative Factors
AI-enabled platform differentiation
Xvantage and its AI workflows are embedding Ingram Micro more deeply in customer operations, increasing self-service, order values, and conversion. This proprietary platform can improve partner retention, operating efficiency, and monetization over multiple quarters as adoption expands.
Read all positive factors
Ingram Micro Holding Corporation (INGM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.17B
Dividend Yield1.19%
Average Volume (3M)2.04M
Price to Earnings (P/E)15.1
Beta (1Y)1.19
Revenue Growth11.54%
EPS Growth61.84%
CountryUS
Employees22,200
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)1.84
Shares Outstanding230,036,910
10 Day Avg. Volume2,502,107
30 Day Avg. Volume2,038,032
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
$32.38Price Target Upside11.56% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)3.42
Revenue Forecast (FY)$58.03B
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 technology supply chain: it purchases (or arranges access to) technology products and solutions from vendors and sells them to downstream channel partners (such as resellers, s...
Ingram Micro Holding Corporation Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Positive
The call presents a strongly positive operational and financial picture — a record Q2 with broad‑based revenue growth, meaningful operating leverage, rapid adoption of the Xvantage platform and AI capabilities, and confident guidance for Q3. The primary near‑term concerns are cash use driven by strategic inventory builds, margin mix pressure from AI/GPU fulfillment deals and APAC's lower margin profile, and some geopolitical and supply timing risks. Overall, management portrays these issues as manageable while emphasizing durable platform‑led advantages and continued investment to monetize AI.Positive Updates
Record Second Quarter Performance
Net revenue of $14.53 billion, up 13.6% year‑over‑year (12.6% FX‑neutral); gross profit of $959 million (vs. $839 million a year ago); adjusted diluted EPS of $0.82, up 34% YoY. Company stated these are the best Q2 results in its history.
Negative Updates
Q2 Free Cash Flow Outflow and Inventory Build
Adjusted free cash flow outflow of $527 million in Q2. Inventory on a U.S. dollar basis rose ~16% sequentially, driven by ASP inflation and strategic procurement to hedge expected price increases.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Second Quarter Performance
Net revenue of $14.53 billion, up 13.6% year‑over‑year (12.6% FX‑neutral); gross profit of $959 million (vs. $839 million a year ago); adjusted diluted EPS of $0.82, up 34% YoY. Company stated these are the best Q2 results in its history.
Read all positive updates
Company Guidance
Management guided Q3 net sales of $13.55B–$13.95B (midpoint >9% y/y, ~11% at the high end), gross profit of $910M–$955M (implying gross margins around 6.8%), and non‑GAAP diluted EPS of $0.72–$0.82, assuming ~231.9 million weighted average shares and a non‑GAAP tax rate of 27%; the guide assumes a ~2%–3% net‑revenue benefit from supply‑constraint puts/loads and a ~$0.01–$0.02 EPS impact from the Middle East conflict. Management expects continued healthy demand—with cloud remaining double‑digit, CES in the upper single digits, and Advanced Solutions mid‑to‑upper single digits (not assuming outsized GPU fulfillment) —will invest inventory to support growth but expects the elevated Q2 inventory to sell through, and characterized this as their strongest quarterly guidance to date.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
Positive
29.02
Price Trends
27.92
Negative
27.94
Negative
25.63
Positive
Market Momentum
-0.24
Negative
53.39
Neutral
59.22
Neutral
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 29.02 is above the 20-day moving average (MA) of 27.10, above the 50-day MA of 27.92, and above the 200-day MA of 25.63, indicating a neutral trend. The MACD of -0.24 indicates Negative momentum. The RSI at 53.39 is Neutral, neither overbought nor oversold. The STOCH value of 59.22 is Neutral, 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 (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $112.21B | 15.78 | 26.90% | 3.07% | 6.47% | 11.19% | |
69 Neutral | $4.59B | 23.77 | 13.08% | ― | 2.68% | 46.40% | |
65 Neutral | $207.20B | 19.90 | 33.52% | 2.99% | 7.90% | 82.11% | |
65 Neutral | $16.02B | 16.58 | 42.60% | 1.86% | 7.41% | 3.00% | |
62 Neutral | $6.17B | 15.12 | 10.23% | 1.19% | 11.54% | 61.84% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | $1.73B | 15.70 | 4.06% | 5.60% | -2.42% | -65.01% |
* General Sector Average
INGM
Ingram Micro Holding Corporation
27.79
5.89
26.89%
ACN
Accenture
212.30
-24.18
-10.22%
NSIT
Insight Enterprises
161.33
49.33
44.04%
IBM
International Business Machines
225.62
-53.83
-19.26%
CDW
CDW
135.83
-20.41
-13.06%
DXC
DXC Technology
11.64
-1.95
-14.35%
Ingram Micro Holding Corporation Corporate Events
Business Operations and StrategyFinancial Disclosures
Ingram Micro Showcases AI-Driven Xvantage Strategy Shift
Positive
Sep 15, 2026
On Sept. 15, 2026, Ingram Micro used its inaugural Capital Markets Day at NYSE Texas in Dallas to showcase its strategic shift from a traditional global distribution leader to an intelligence-led B2B operating system for the IT ecosystem. Manageme...
Business Operations and StrategyStock BuybackPrivate Placements and Financing
Ingram Micro Announces Major Secondary Share Offering
Neutral
Sep 10, 2026
On September 8, 2026, Ingram Micro Holding Corporation announced that its principal shareholder, Ingram Holdco, LLC, launched a secondary offering of 13,125,000 shares of common stock, with Goldman Sachs Co. LLC as sole underwriter, and a 30-day ...
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 ...
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.