The Andersons, Inc. (ANDE) Stock

The Andersons, Inc. (ANDE) is a Consumer Discretionary stock trading at $70.92 (as of 2026-09-02), with a market capitalization of $2.41B and a trailing P/E of 13.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

The Andersons, Inc. operates in agriculture through segments including Trade, Renewables, and Plant Nutrient. It engages in commodity-related grain handling and marketing services, produces and sells ethanol and co-products, and manufactures and distributes plant nutrient products and crop inputs, along with related agronomic services for customers including farmers and ethanol facilities.

Understand The Andersons, Inc.: how it makes money

The Andersons buys, stores, and markets grain for farmers and food processors, then processes corn into ethanol for fuel and industrial use. The high-volume grain trade earns a modest spread, while the real profit pool sits in ethanol production, making renewables the company's earnings engine.

Revenue is dominated by pass-through grain volume, but the earnings that matter come from processing corn into ethanol, where the company captures a production margin on top of the commodity trade.

Valuation: At 13× earnings, ANDE trades 47% below the Wholesale average (24×). Note: the low multiple may reflect one-time earnings items.

Bull case

Ethanol tax shields and ownership: Management pointed to full ownership of ethanol plants, strong fuel demand, and production tax credits as structural supports for renewables earnings, the segment that generated $40M in pretax income last quarter.
Western basis appreciation upside: Western grain inventories are positioned to benefit from basis appreciation and continued sorghum export demand, a tailwind for the trade segment's merchandising economics.
47 percent below sector multiple: At a P/E of 12.6x versus the Wholesale industry average of 24x (47% below), the stock prices in well under peers, leaving upside if grain-market uncertainty resolves into firmer prices.

Bear case

Abundant grain crushes trading margins: With abundant grain supply and low commodity prices compressing the merchandising spread, the agribusiness trade segment faces continued margin pressure, and farmer grain sales may be delayed absent a sizable price rally.
Farm income gates fertilizer demand: Management warned that weak farm economics could limit fertilizer purchases even as per-acre nutrient needs rise, creating a volume risk for the nutrient segment that is independent of pricing.

Valuation — source: SEC EDGAR (first-party)
Price	$70.92
Market Cap	$2.41B
P/E Ratio	13.6
EV / EBITDA	9.3
Price / Book	1.78
Price / Sales	0.22
FCF Yield	-2.3%
DCF Value (model)	$18.86
DCF Upside vs Price	-73.4%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$11.01B
Net Margin	0.9%
Revenue Growth (YoY)	-1.2%
EPS Growth (YoY)	621.7%
FCF Growth (YoY)	64.6%

Financial Health — source: SEC EDGAR
Altman Z-Score	4.27 (safe)
Piotroski F-Score	6/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	13.6
Sector P/E (Consumer Discretionary)	20.1
Industry P/E (Wholesale)	23.9
vs Sector	-32.5%
vs Industry	-43.0%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($400.40M)
Institutional Holders Tracked	10

Company
Sector	Consumer Discretionary
Industry	Wholesale
CEO	William E. Krueger
Employees	2,224
Country	US
IPO Date	1996-02-20

Related Companies (Wholesale; 8 comparable wholesalers)

Data as of 2026-09-02.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.