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Andersons, Inc.

ANDE Clue Score32
United States Fiscal year ends December CIK 0000821026
$63.89 -3.97% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $63.89 +100.41% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueNet income
Fiscal year 2016Revenue3,924.8Net income11.6EPS, diluted0.41Fiscal year 2017Revenue3,686.3 −6.1%Net income42.5 +266.7%EPS, diluted1.50 +265.9%Fiscal year 2018Revenue898.9 −75.6%Net income41.5 −2.4%EPS, diluted1.46 −2.7%Fiscal year 2019Revenue1,344.4 +49.6%Net income18.3 −55.9%EPS, diluted0.55 −62.3%Fiscal year 2020Revenue1,479.7 +10.1%Net income7.7 −57.9%EPS, diluted0.23 −58.2%Fiscal year 2021Revenue2,211.5 +49.5%Net income104.0 +1,248.7%EPS, diluted3.07 +1,234.8%Fiscal year 2022Revenue3,036.9 +37.3%Net income131.1 +26.1%EPS, diluted3.81 +24.1%Fiscal year 2023Revenue1,632.2 −46.3%Net income101.2 −22.8%EPS, diluted2.94 −22.8%Fiscal year 2024Revenue1,403.4 −14.0%Net income114.0 +12.7%EPS, diluted3.32 +12.9%Fiscal year 2025Revenue1,531.1 +9.1%Net income95.7 −16.1%EPS, diluted2.79 −16.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 3,924.8 3,686.3 898.9 1,344.4 1,479.7 2,211.5 3,036.9 1,632.2 1,403.4 1,531.1
Growth −6.1% −75.6% +49.6% +10.1% +49.5% +37.3% −46.3% −14.0% +9.1%
Net income 11.6 42.5 41.5 18.3 7.7 104.0 131.1 101.2 114.0 95.7
Growth +266.7% −2.4% −55.9% −57.9% +1,248.7% +26.1% −22.8% +12.7% −16.1%
EPS, diluted 0.41 1.50 1.46 0.55 0.23 3.07 3.81 2.94 3.32 2.79
Growth +265.9% −2.7% −62.3% −58.2% +1,234.8% +24.1% −22.8% +12.9% −16.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginNet margin
Fiscal year 2016Gross margin8.8%Net margin0.3%Free cash flow margin−1.0%Fiscal year 2017Gross margin8.6%Net margin1.2%Free cash flow margin1.1%Fiscal year 2018Gross margin33.6%Net margin4.6%Free cash flow margin−19.8%Fiscal year 2019Gross margin34.3%Net margin1.4%Free cash flow margin13.6%Fiscal year 2020Gross margin24.7%Net margin0.5%Free cash flow margin−10.2%Fiscal year 2021Gross margin26.8%Net margin4.7%Free cash flow margin−5.7%Fiscal year 2022Gross margin22.5%Net margin4.3%Free cash flow margin5.9%Fiscal year 2023Gross margin45.7%Net margin6.2%Free cash flow margin48.8%Fiscal year 2024Gross margin49.4%Net margin8.1%Free cash flow margin13.0%Fiscal year 2025Gross margin46.6%Net margin6.3%Free cash flow margin−3.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 8.8% 8.6% 33.6% 34.3% 24.7% 26.8% 22.5% 45.7% 49.4% 46.6%
Net margin 0.3% 1.2% 4.6% 1.4% 0.5% 4.7% 4.3% 6.2% 8.1% 6.3%
Free cash flow margin −1.0% 1.1% −19.8% 13.6% −10.2% −5.7% 5.9% 48.8% 13.0% −3.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow39.6Capital expenditure−77.7Free cash flow−38.2Buybacks0.0Dividends paid−17.4Fiscal year 2017Operating cash flow75.3Capital expenditure−34.6Free cash flow40.7Buybacks0.0Dividends paid−18.2Fiscal year 2018Operating cash flow−35.5Capital expenditure−142.6Free cash flow−178.1 −537.8%Dividends paid−18.6Fiscal year 2019Operating cash flow348.6Capital expenditure−165.2Free cash flow183.3Dividends paid−22.1Fiscal year 2020Operating cash flow−74.4Capital expenditure−77.1Free cash flow−151.6 −182.7%Buybacks0.0Dividends paid−23.0Fiscal year 2021Operating cash flow−51.1Capital expenditure−75.8Free cash flow−126.8Buybacks0.0Dividends paid−23.7Fiscal year 2022Operating cash flow287.1Capital expenditure−108.3Free cash flow178.8Buybacks−12.7Dividends paid−24.6Fiscal year 2023Operating cash flow946.8Capital expenditure−150.4Free cash flow796.3 +345.3%Buybacks−1.7Dividends paid−25.4Fiscal year 2024Operating cash flow331.5Capital expenditure−149.2Free cash flow182.3 −77.1%Buybacks−2.3Dividends paid−26.3Fiscal year 2025Operating cash flow177.0Capital expenditure−233.1Free cash flow−56.1 −130.8%Buybacks−15.4Dividends paid−26.8
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 39.6 75.3 −35.5 348.6 −74.4 −51.1 287.1 946.8 331.5 177.0
Capital expenditure −77.7 −34.6 −142.6 −165.2 −77.1 −75.8 −108.3 −150.4 −149.2 −233.1
Free cash flow −38.2 40.7 −178.1 183.3 −151.6 −126.8 178.8 796.3 182.3 −56.1
Growth −537.8% −182.7% +345.3% −77.1% −130.8%
Buybacks 0.0 0.0 n/a n/a 0.0 0.0 −12.7 −1.7 −2.3 −15.4
Dividends paid −17.4 −18.2 −18.6 −22.1 −23.0 −23.7 −24.6 −25.4 −26.3 −26.8

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash62.6Total debt444.6Net cash (debt)−382.0Shareholders’ equity774.4Debt to equity0.57Fiscal year 2017Cash34.9Total debt472.5Net cash (debt)−437.6Shareholders’ equity815.2Debt to equity0.58Fiscal year 2018Cash22.6Total debt517.8Net cash (debt)−495.2Shareholders’ equity830.3Debt to equity0.62Fiscal year 2019Cash54.9Total debt1,079.1Net cash (debt)−1,024.3Shareholders’ equity973.6Debt to equity1.11Fiscal year 2020Cash29.1Total debt955.8Net cash (debt)−926.7Shareholders’ equity961.9Debt to equity0.99Fiscal year 2021Cash216.4Total debt632.7Net cash (debt)−416.3Shareholders’ equity1,072.4Debt to equity0.59Fiscal year 2022Cash115.3Total debt602.7Net cash (debt)−487.4Shareholders’ equity1,198.6Debt to equity0.50Fiscal year 2023Cash643.9Total debt590.5Net cash (debt)53.3Shareholders’ equity1,282.9Debt to equity0.46Fiscal year 2024Cash561.8Total debt644.3Net cash (debt)−82.5Shareholders’ equity1,366.2Debt to equity0.47Fiscal year 2025Cash98.3Total debt623.4Net cash (debt)−525.1Shareholders’ equity1,244.8Debt to equity0.50
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 62.6 34.9 22.6 54.9 29.1 216.4 115.3 643.9 561.8 98.3
Total debt 444.6 472.5 517.8 1,079.1 955.8 632.7 602.7 590.5 644.3 623.4
Net cash (debt) −382.0 −437.6 −495.2 −1,024.3 −926.7 −416.3 −487.4 53.3 −82.5 −525.1
Shareholders’ equity 774.4 815.2 830.3 973.6 961.9 1,072.4 1,198.6 1,282.9 1,366.2 1,244.8
Debt to equity 0.57 0.58 0.62 1.11 0.99 0.59 0.50 0.46 0.47 0.50

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
8.8% 8.6% 33.6% 34.3% 24.7% 26.8% 22.5% 45.7% 49.4% 46.6%
0.5% −0.6% 5.9% 1.0% −1.8% 7.3% 6.4% 10.4% 14.3% 9.2%
0.3% 1.2% 4.6% 1.4% 0.5% 4.7% 4.3% 6.2% 8.1% 6.3%
−1.0% 1.1% −19.8% 13.6% −10.2% −5.7% 5.9% 48.8% 13.0% −3.7%
Spending
2.0% 0.9% 15.9% 12.3% 5.2% 3.4% 3.6% 9.2% 10.6% 15.2%
32.3% n/a 22.4% 70.2% n/a 18.2% 20.4% 21.8% 15.0% 15.7%
Returns
1.5% 5.2% 5.0% 1.9% 0.8% 9.7% 10.9% 7.9% 8.3% 7.7%
0.5% 2.0% 1.7% 0.5% 0.2% 2.3% 2.8% 2.6% 2.8% 2.6%
Balance and payout
0.57 0.58 0.62 1.11 0.99 0.59 0.50 0.46 0.47 0.50
64.6% 61.9% 63.3% 69.3% 72.8% 71.4% 69.0% 60.7% 61.2% 65.2%
149.7% 42.7% 44.9% 120.8% 298.4% 22.8% 18.8% 25.1% 23.0% 28.1%
n/a 44.6% n/a 12.1% n/a n/a 20.9% 3.4% 15.7% n/a