Andersons (ANDE) financial statements
Andersons reported revenue of $11.0B in fiscal 2025, up 12.1% a year over 9 years.
Net income was $96M.
Free cash flow was -$56M, and the company returned $27M in dividends and $15M in net buybacks.
The diluted share count rose 21% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Andersons's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.9B | $3.7B | $3.0B | $8.0B | $8.1B | $12.6B | $17.3B | $14.8B | $11.3B | $11.0B |
| Cost of revenue | $3.6B | $3.4B | $2.7B | $7.5B | $7.7B | $12.0B | $16.6B | $14.0B | $10.6B | $10.3B |
| Gross profit | $346M | $319M | $302M | $461M | $366M | $593M | $684M | $745M | $694M | $714M |
| Pre-tax income | $21M | -$21M | $53M | $13M | -$27M | $161M | $195M | $170M | $201M | $141M |
| Income tax | $7M | -$63M | $12M | $9M | -$11M | $29M | $40M | $37M | $30M | $22M |
| Net income | $12M | $43M | $41M | $18M | $8M | $104M | $131M | $101M | $114M | $96M |
| EPS (diluted) | $0.41 | $1.50 | $1.46 | $0.55 | $0.23 | $3.07 | $3.81 | $2.94 | $3.32 | — |
| Diluted shares | 28M | 28M | 28M | 33M | 33M | 34M | 34M | 34M | 34M | 34M |
| Gross margin | 8.8% | 8.6% | 9.9% | 5.8% | 4.5% | 4.7% | 3.9% | 5.1% | 6.2% | 6.5% |
| Net margin | 0.3% | 1.2% | 1.4% | 0.2% | 0.1% | 0.8% | 0.8% | 0.7% | 1.0% | 0.9% |
Balance sheet
Fiscal years, from Andersons's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $63M | $35M | $23M | $55M | $29M | $216M | $115M | $644M | $562M | $98M |
| Inventory | $683M | $649M | $691M | $1.2B | $1.3B | $1.8B | $1.7B | $1.2B | $1.3B | $1.4B |
| Total current assets | $1.1B | $999M | $1.0B | $1.9B | $2.4B | $3.4B | $3.5B | $2.8B | $2.9B | $2.4B |
| Property, plant and equipment | $450M | $385M | $477M | $938M | $860M | $786M | $763M | $693M | $868M | $940M |
| Goodwill | $64M | $6M | $2M | $131M | $132M | $129M | $129M | $128M | $128M | $128M |
| Total assets | $2.2B | $2.2B | $2.4B | $3.9B | $4.3B | $4.6B | $4.6B | $3.9B | $4.1B | $3.7B |
| Total current liabilities | $800M | $739M | $833M | $1.4B | $1.9B | $2.5B | $2.5B | $1.6B | $1.7B | $1.7B |
| Long-term debt | $397M | $418M | $496M | $1.0B | $886M | $600M | $493M | $563M | $608M | $560M |
| Total liabilities | $1.4B | $1.3B | $1.5B | $2.7B | $3.1B | $3.3B | $3.2B | $2.3B | $2.5B | $2.4B |
| Shareholders' equity | $774M | $815M | $830M | $974M | $962M | $1.1B | $1.2B | $1.3B | $1.4B | $1.2B |
| Net debt | $382M | $438M | $495M | $1.0B | $927M | $416M | $487M | -$53M | $83M | $525M |
Cash flow
Fiscal years, from Andersons's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $40M | $75M | -$36M | $349M | -$74M | -$51M | $287M | $947M | $332M | $177M |
| Capital spending | $78M | $35M | $143M | $165M | $77M | $76M | $108M | $150M | $149M | $233M |
| Free cash flow | -$38M | $41M | -$178M | $183M | -$152M | -$127M | $179M | $796M | $182M | -$56M |
| Stock-based compensation | $7M | $6M | $7M | $16M | $10M | $11M | $11M | $13M | $14M | $17M |
| Dividends paid | $17M | $18M | $19M | $22M | $23M | $24M | $25M | $25M | $26M | $27M |
| Share buybacks (net) | $0 | $0 | — | — | $0 | $0 | -$13M | -$2M | -$2M | -$15M |
| Net borrowing | -$2M | $20M | $194M | $35M | $167M | -$328M | -$30M | $50M | -$17M | -$22M |
| Free cash flow margin | -1.0% | 1.1% | -5.8% | 2.3% | -1.9% | -1.0% | 1.0% | 5.4% | 1.6% | -0.5% |
| Dividends per share | $0.61 | $0.64 | $0.66 | $0.67 | $0.69 | $0.70 | $0.71 | $0.74 | $0.77 | $0.78 |
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Open ANDE in InvestinglyQuestions
What was Andersons's revenue in 2025?
$11.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does Andersons generate?
-$56M in fiscal 2025 (operating cash flow minus capital spending).
From Andersons's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.