AMCON Distributing Company (DIT) Stock

AMCON Distributing Company (DIT) is a Consumer Discretionary stock trading at $74.00 (as of 2026-08-24), with a market capitalization of $72.23M and a trailing P/E of 40.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

AMCON Distributing Company and its subsidiaries wholesale consumer products and operate a Retail Health Food business in the Central, Rocky Mountain, and Mid-South regions of the United States. It supplies items such as tobacco, beverages, groceries, paper goods, and institutional foodservice products to retailers and institutions, and sells natural and specialty foods through retail locations.

Understand AMCON Distributing Company: how it makes money

AMCON wholesale-distributes cigarettes, confectionery, beverages, paper products, and other consumer goods to retailers across 34 central US states, earning a distribution fee on every case moved. The Wholesale Distribution segment carries roughly 99% of revenue, while a small Retail Health Food niche adds a slim 1% slice.

Volume is the entire story: with a 6% gross margin and sub-1% operating margin, every increment of profit depends on moving more cases through 14 distribution centers, not on pricing power over suppliers or retailers.

Revenue by segment (latest quarter)
Wholesale Distribution	$0.7B
Retail Health Food	$0.0B

Business quality (Weak): Thin-margin commodity distributor at a premium multiple; the business earns almost nothing per dollar of sales, so operational discipline is the only real edge.

Valuation: At 40× earnings, DIT trades 71% above the Wholesale average (24×).

Bull case

Revenue growing faster than peers: Quarterly revenue hit $800M, up 13% year over year, which for a commodity-adjacent distributor signals share gains or category tailwinds that can compound over time.
34-state network is hard to replicate: Fourteen distribution centers spanning 34 states create a local-service footprint that national distributors cannot match at comparable cost, giving AMCON switching inertia with convenience-store and grocery clients.

Bear case

Pricing a 40x name on 1% margin: The stock trades at 40.2x earnings versus a 24x Wholesale industry average, a 71% premium, for a business whose operating margin is just 1%. Any earnings normalization snaps the multiple sharply.
Sub-1% margin leaves no cushion: A 0.7% operating margin means a modest rise in fuel, labor, or product cost can push the company to breakeven. There is essentially no buffer before the business stops generating profit.

Valuation — source: SEC EDGAR (first-party)
Price	$74.00
Market Cap	$72.23M
P/E Ratio	40.2
EV / EBITDA	3.3
Price / Book	0.63
Price / Sales	0.02
FCF Yield	13.4%
DCF Value (model)	$159.17
DCF Upside vs Price	115.1%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$2.82B
Net Margin	0.0%
Revenue Growth (YoY)	12.9%
EPS Growth (YoY)	35.0%
FCF Growth (YoY)	130.7%

Financial Health — source: SEC EDGAR
Altman Z-Score	8.19 (safe)
Piotroski F-Score	4/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	40.2
Sector P/E (Consumer Discretionary)	20.1
Industry P/E (Wholesale)	23.9
vs Sector	99.8%
vs Industry	68.5%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	DIMENSIONAL FUND ADVISORS LP ($2.84M)
Institutional Holders Tracked	10

Company
Sector	Consumer Discretionary
Industry	Wholesale
CEO	Christopher H. Atayan
Employees	1,362
Country	US
IPO Date	1995-08-04

Related Companies (Wholesale; 8 comparable wholesalers)

Data as of 2026-08-24.

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