회사 개요
The Andersons, Inc. operates as a comprehensive agriculture and renewable fuels enterprise serving markets in the United States, Canada, Mexico, and international regions, primarily through its Agribusiness and Renewables segments. Within the Consumer Defensive sector and specifically the Food Distribution industry, the company functions by selling agricultural commodities like corn, wheat, and soybeans while also engaging in manufacturing and distribution activities. The firm employs a workforce of 2,028 individuals and holds a market capitalization of $2.53 billion, reflecting a substantial mid-cap presence in the agribusiness landscape. Its annual revenue stands at $11.01 billion, a figure that underscores the company's significant operational scale and its entrenched position as a major player in the global food supply chain.
재무 건전성
The company reported a trailing twelve-month revenue of $11.01 billion with a net income of $95.71 million and an EBITDA of $266.24 million, revealing a substantial gap between top-line revenue and bottom-line profit that highlights a cost structure heavily influenced by low-margin trading and manufacturing expenses. Free cash flow is currently reported at -$177,196,256, indicating a period of significant capital outflow where operating cash generation is insufficient to cover capital expenditures, thereby limiting immediate financial flexibility for dividends or acquisitions without external financing. Gross margin is 6.5%, operating margin is 3.7%, and profit margin is 0.9%; these compressed figures are characteristic of the food distribution industry where high volume is required to achieve profitability, yet they expose the business to thin cushion against input cost inflation. Total cash on hand amounts to $103.12 million against total debt of $972.53 million, creating a negative net cash position, while the debt-to-equity ratio of 75.38 suggests a highly leveraged balance sheet reliant on creditor financing rather than equity buffers. The current ratio of 1.41 indicates that the company holds assets sufficient to cover 1.41 times its short-term liabilities, suggesting adequate but not excessive short-term liquidity to meet immediate obligations. Return on equity is 8.3% and return on assets is 2.1%, metrics that reveal management's effectiveness is moderate in generating returns on shareholder capital but low in utilizing the broader asset base to produce profits.
밸류에이션 평가
The stock carries a trailing P/E ratio of 26.60 compared to a forward P/E of 13.21, a significant divergence that implies the market currently prices in a substantial expected decline in future earnings relative to the historical performance recorded over the past year. The price-to-book ratio is 2.00, indicating that the market values the company at twice its book value, which suggests a premium pricing over the tangible assets listed on the balance sheet despite the high leverage. Price-to-sales ratio is 0.23 and EV/EBITDA is 12.79; these alternative metrics suggest that on a revenue basis the stock is relatively cheap given the massive sales volume, though the EV/EBITDA reflects the heavy debt burden in the valuation multiple. The 52-week high is $75.69 and the 52-week low is $31.03, and without a specific current price provided in the available facts, the trading range demonstrates a wide volatility band where the stock has recovered from deep lows but remains below its yearly peak. The beta value of 0.69 indicates that the stock price is historically less volatile than the broader market, moving with lower sensitivity to general market fluctuations compared to a beta of 1.0.
Growth & Income
Revenue growth year-over-year is -18.8% while earnings growth year-over-year is 51.4%, demonstrating that earnings are expanding at a rate significantly faster than revenue, which typically implies an improvement in operating leverage or margin expansion despite the contraction in sales volume. The company offers a dividend yield of 1.1% with a payout ratio of 28.1%, a low ratio that suggests the dividend payments are currently sustainable even amidst earnings volatility and negative free cash flow periods. Given the negative free cash flow and the relatively low payout ratio, the capital allocation strategy appears to favor maintaining the dividend and servicing debt obligations rather than aggressive reinvestment for expansion. The overall growth and income profile presents a scenario of declining revenue accompanied by sharp earnings recovery and a modest, potentially sustainable income stream, reflecting a cyclical downturn in sales that has been partially offset by cost controls or segment performance improvements.