A Business at a Glance
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INGLES MARKETS INC
IMKTA
$1.3B
Mkt Cap
$85.83
+1.12%
INGLES MARKETS INC (IMKTA) has a current P/E ratio of 13.1, compared to its historical median P/E of 6.6. The stock is currently considered Expensive based on its historical valuation range.
INGLES MARKETS INC (IMKTA) has a 5-year average return on invested capital (ROIC) of 12.5%. This indicates solid capital allocation.
INGLES MARKETS INC (IMKTA) does not currently pay a regular dividend.
Based on historical P/E analysis, INGLES MARKETS INC (IMKTA) appears expensive. The current P/E of 13.1 is 100% above its historical median of 6.6. The estimated fair value CAGR (P/E method) is 5.6%.
INGLES MARKETS INC (IMKTA) operates in the Retail-Grocery Stores industry, within the Consumer Defensive sector.
INGLES MARKETS INC (IMKTA) reported annual revenue of $5.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
INGLES MARKETS INC (IMKTA) has a net profit margin of 1.6%. This is a modest margin.
The Company operates one primary business segment, retail grocery, on a 52- or 53-week fiscal year ending on the last Saturday in September. The consolidated statements of income for the fiscal years ended September 27, 2025 and September 28, 2024 each consisted of 52 weeks of operations. The consolidated statements of income for the fiscal year ended September 30, 2023 had 53 weeks. Income from operations for the primary business segment, retail grocery sales, included the charges for impairment losses from Hurricane Helene of $34.9 million for fiscal year ended September 28, 2024. For fiscal year 2025, our expense allocation methodology changed to include direct and indirect costs associated with the shopping center rentals that were previously included in the retail segment. Fiscal years 2024 and 2023 have been recast to be comparable.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 5.4B | 5.3B | 5.6B | 5.9B | 5.7B | 5.0B |
| Net Income | 104M | 84M | 106M | 211M | 273M | 250M |
| EPS | $0.00 | - | - | - | - | - |
| Free Cash Flow | 151M | 40M | 52M | 93M | 220M | 166M |
| ROIC | 6.3% | 5.1% | 6.5% | 13.9% | 19.0% | 18.0% |
| Gross Margin | 24.5% | 23.9% | 23.0% | 23.8% | 24.9% | 26.1% |
| Debt/Equity | 0.30 | 0.33 | 0.36 | 0.41 | 0.49 | 0.64 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 146M | 118M | 147M | 292M | 377M | 350M |
| Operating Margin | 2.7% | 2.2% | 2.6% | 5.0% | 6.6% | 7.0% |
| ROE | 6.3% | 5.3% | 7.0% | 15.5% | 24.3% | 27.7% |
| Shares Outstanding | 0M | - | - | - | - | - |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | N/A | N/A | N/A | 4.0B | 4.1B | 4.2B | 4.6B | 5.0B | 5.7B | 5.9B | 5.6B | 5.3B | 5.4B |
| Gross Margin | N/A | N/A | N/A | 24.1% | 23.9% | 24.3% | 26.0% | 26.1% | 24.9% | 23.8% | 23.0% | 23.9% | 24.5% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | 836M | 855M | 870M | 917M | 953M | 1.0B | 1.1B | 1.2B | 1.2B | 1.2B |
| EBIT | 123M | 139M | 129M | 128M | 125M | 152M | 281M | 350M | 377M | 292M | 147M | 118M | 146M |
| Op. Margin | N/A | N/A | N/A | 3.2% | 3.0% | 3.6% | 6.1% | 7.0% | 6.6% | 5.0% | 2.6% | 2.2% | 2.7% |
| Net Income | 51M | 59M | 54M | 54M | 97M | 82M | 179M | 250M | 273M | 211M | 106M | 84M | 104M |
| Net Margin | N/A | N/A | N/A | 1.3% | 2.4% | 1.9% | 3.9% | 5.0% | 4.8% | 3.6% | 1.9% | 1.6% | 1.9% |
| Non-Recurring | 826K | 2.2M | -1.2M | 1.5M | 728K | 4.1M | 4.4M | 10.0M | 1.4M | 2.8M | 44M | 37M | 37M |
| Returns on Capital | |||||||||||||
| ROIC | 5.6% | 6.6% | 6.2% | 6.0% | 8.9% | 8.0% | 14.5% | 18.0% | 19.0% | 13.9% | 6.5% | 5.1% | 6.3% |
| ROE | 13.0% | 14.6% | 12.1% | 11.0% | 17.6% | 13.0% | 24.1% | 27.7% | 24.3% | 15.5% | 7.0% | 5.3% | 6.3% |
| ROA | 3.1% | 3.6% | 3.2% | 3.2% | 5.5% | 4.4% | 9.5% | 12.7% | 12.6% | 8.8% | 4.2% | 3.3% | 4.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 154M | 153M | 159M | 156M | 161M | 212M | 350M | 306M | 339M | 266M | 263M | 154M | 257M |
| Free Cash Flow | 46M | 49M | 21M | 29M | 11M | 50M | 227M | 166M | 220M | 93M | 52M | 40M | 151M |
| Owner Earnings | 57M | 51M | 52M | 45M | 48M | 99M | 234M | 189M | 222M | 150M | 141M | 31M | -1.6B |
| CapEx | 108M | 104M | 138M | 128M | 150M | 162M | 123M | 141M | 120M | 174M | 211M | 115M | 106M |
| Maint. CapEx | 98M | 103M | 107M | 111M | 113M | 113M | 116M | 117M | 118M | 116M | 122M | 123M | 1.8B |
| Growth CapEx | 11M | 1.2M | 31M | 17M | 37M | 49M | 6.5M | 23M | 1.8M | 58M | 89M | 0 | 0 |
| D&A | 98M | 103M | 107M | 111M | 113M | 113M | 116M | 117M | 118M | 116M | 122M | 123M | 1.8B |
| CapEx/OCF | N/A | N/A | N/A | N/A | 93.3% | 76.5% | 35.1% | 45.9% | 35.2% | 65.2% | 80.3% | 74.3% | 41.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 14M | 13M | 13M | 13M | 13M | 13M | 13M | 13M | 12M | 12M | 12M | 12M | 12M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 65M | 0 | 0 | 0 | 0 | 0 | 0 | 80M | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | N/A | N/A | N/A | 6.6% | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 19M | 12M | 31M | 59M | 13M | 14M | 443M | 328M | 18M | 22M | 18M | 18M | 18M |
| Balance Sheet | |||||||||||||
| Net Debt | 959M | 879M | 871M | 854M | 855M | 810M | 648M | 557M | 235M | 263M | 208M | 175M | 86M |
| Cash & Equiv. | 8.6M | 7.5M | 5.7M | 24M | 11M | 42M | 6.9M | 70M | 267M | 329M | 354M | 366M | 418M |
| Long-Term Debt | 925M | 875M | 866M | 866M | 853M | 840M | 586M | 572M | 554M | 533M | 515M | 497M | 486M |
| Debt/Equity | 2.53 | 2.07 | 1.86 | 1.72 | 1.45 | 1.29 | 0.80 | 0.64 | 0.49 | 0.41 | 0.36 | 0.33 | 0.30 |
| Interest Coverage | 2.6 | 3.0 | 2.8 | 2.7 | 2.6 | 3.2 | 6.9 | 14.4 | 17.5 | 13.2 | 6.7 | 6.0 | 7.7 |
| Equity | 383M | 429M | 470M | 511M | 595M | 663M | 819M | 983M | 1.3B | 1.5B | 1.5B | 1.6B | 1.7B |
| Total Assets | 1.6B | 1.7B | 1.7B | 1.7B | 1.8B | 1.9B | 1.9B | 2.0B | 2.3B | 2.5B | 2.5B | 2.6B | 2.6B |
| Total Liabilities | 1.3B | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 1.1B | 1.0B | 1.0B | 1.0B | 982M | 950M | 933M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 369M | 416M | 457M | 498M | 582M | 651M | 816M | 986M | 1.2B | 1.4B | 1.5B | 1.6B | 1.7B |
| Working Capital | 163M | 172M | 177M | 200M | 237M | 250M | 146M | 269M | 504M | 622M | 605M | 673M | 714M |
| Current Assets | 414M | 424M | 418M | 446M | 497M | 497M | 470M | 575M | 838M | 953M | 926M | 976M | 1.0B |
| Current Liabilities | 251M | 252M | 242M | 246M | 260M | 248M | 324M | 306M | 334M | 331M | 321M | 303M | 305M |
| Per Share Data | |||||||||||||
| EPS | 2.28 | 2.93 | 2.68 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Owner EPS | 2.51 | 2.50 | 2.59 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Book Value | 16.96 | 21.18 | 23.25 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Cash Flow/Share | 6.84 | 7.58 | 7.87 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Dividends/Share | 0.66 | 0.66 | 0.66 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 22.6M | 20.3M | 20.2M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | 6.5 | 9.0 | 3.8 | 4.9 | 5.6 | 6.6 | 13.2 | 15.5 | N/A |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | 11.9 | 10.1 | 4.6 | 5.2 | 5.5 | 6.7 | 13.1 | 15.4 | 0.6 |
| Price/Book | N/A | N/A | N/A | N/A | 1.1 | 1.1 | 0.8 | 1.2 | 1.2 | 1.0 | 0.9 | 0.8 | N/A |
| Price/Sales | N/A | N/A | N/A | N/A | 0.1 | 0.1 | 0.2 | 0.2 | 0.3 | 0.3 | 0.3 | 0.2 | N/A |
| FCF Yield | N/A | N/A | N/A | N/A | 1.7% | 6.8% | 33.7% | 13.6% | 14.5% | 6.6% | 3.7% | 3.0% | N/A |
| Market Cap | 0 | 0 | 0 | 0 | 634M | 734M | 674M | 1.2B | 1.5B | 1.4B | 1.4B | 1.3B | 0 |
| Avg. Price | 0.00 | 0.00 | 0.00 | 0.00 | 28.22 | 28.96 | 38.41 | 51.81 | 82.89 | 85.97 | 75.37 | 64.45 | 85.83 |
| Year-End Price | 0.00 | 0.00 | 0.00 | 0.00 | 31.27 | 36.24 | 35.51 | 63.94 | 79.84 | 73.75 | 73.24 | 68.39 | 85.83 |
INGLES MARKETS INC passes 2 of 9 quality checks, indicating weak fundamentals.
INGLES MARKETS INC trades at 13.1x trailing earnings, compared to its 15-year median P/E of 6.6x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 12.5% with a gross margin of 24.4%. At current prices, the estimated annualized return to fair value is +5.6%.
INGLES MARKETS INC (IMKTA) generated $40 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
INGLES MARKETS INC (IMKTA) has a debt-to-equity ratio of 0.33. This indicates a conservatively financed balance sheet.
INGLES MARKETS INC (IMKTA) has a return on equity (ROE) of 5.3%. This indicates moderate shareholder returns.
INGLES MARKETS INC (IMKTA) has a 5-year average gross margin of 24.4%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for INGLES MARKETS INC (IMKTA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.