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▼ FY 2025 Summary Analysis
Annual report ending Dec 31, 2025Overview and Growth
Fiscal 2025 results for Andersons, Inc. combined $11.01B of revenue with net income of $95.71M and an operating cash inflow of $177.00M. Revenue of $11.01B sets the scale for evaluating how effectively sales translated into profit and cash during the year. The top line contracted 2.2% from $11.26B in fiscal 2024; this top-line contraction left the company with a smaller revenue base. Total assets stood at $3.71B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 2.97x, relating the company’s annual revenue directly to the total assets reported at the period end.Profitability
After reported cost of revenue, the company retained $713.65M as gross profit before recognizing operating expenses and other items. Gross profit represented 6.5% of revenue, showing how much of the top line remained after direct costs. After all reported below-operating-line items, the company recorded net income of $95.71M for the fiscal year. Net margin was 0.9%, meaning that this portion of revenue remained as net income after all recognized expenses. Pretax income was $141.47M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. The pretax margin was 1.3%, relating income before taxes directly to revenue. Income tax expense totaled $22.17M, providing the reported tax component that separates pretax and after-tax earnings. The effective relationship between income tax and positive pretax income was 15.7%, without assuming a statutory-rate comparison. Return on period-end equity was 7.4%, relating annual net income to the equity capital on the balance sheet. Return on period-end assets was 2.6%, connecting net income with the company’s total asset base.Liquidity and Capital Structure
The company held $3.71B of assets against $2.42B of liabilities and $1.29B of equity, revealing how the asset base was financed. The near-term balance sheet paired $2.38B of current assets with $1.69B of current liabilities at the reporting date. Current assets covered current liabilities by 1.41x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $98.28M, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 5.8% of current liabilities, showing how much near-term coverage came from cash alone. The company carried $623.39M of total debt at period end, which frames its leverage and debt-service burden. Debt equaled 0.48x of book equity, describing the relative scale of borrowing and shareholder capital. Relative to total assets, debt measured 16.8%, showing how much of the asset base was matched by borrowing. Relative to total assets, liabilities measured 65.2%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 2.6%, comparing reported cash and equivalents with the full positive asset balance. Total assets were 9.9% lower than fiscal 2024 assets of $4.12B, measuring the company’s own balance-sheet change. Book equity was 19.4% lower than fiscal 2024 equity of $1.60B, showing how shareholder capital changed year over year.Cash Flow and Earnings Quality
The company reported $177.00M of operating cash flow, a cash inflow that shows the cash generated by operations. The operating-cash-flow-to-net-income relationship was 1.85x, comparing cash generated by operations with the bottom-line earnings result. Capital expenditures used $233.12M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital expenditures represented 131.7% of operating cash flow, leaving the remainder available as free cash flow. Negative free cash flow was $56.12M, leaving a cash deficit after capital spending and reducing financial flexibility. Relative to revenue, the post-investment cash deficit represented 0.5%. The cash deficit after capital spending represented 1.5% of the period-end asset base.
Based on the annual report for the fiscal year ending Dec 31, 2025.
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