2 models fit Andersons Inc. (The) Common Stock and they disagree: 0 of 2 land within 15% of the average. The price is below every model.
Two or more of our models back this value.
Large discount(i)Bronze50
Valued as a growth company: Discounted cash flow, P/E comparison, and EV/EBITDA comparison.
ACCE opinionAndersons Inc. (The) Common Stock (ANDE)
Fair value (2 models)
$89.30
ACCE price target
$64.70
Rating
Undervalued
Horizon
12 months
Fair value published on 19 Oct 2026, 17:05 CEST; previously $90.25 since 15 Oct 2026, 00:00 CEST.
ACCE price target published on 11 Oct 2026, 00:00 CEST.
Rating published on 19 Oct 2026, 17:05 CEST.
Price used: $64.93 at the close on 23 Oct 2026, 22:00 CEST.
Models: P/E comparison and EV/EBITDA comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
27.3% below
+37.5% to fair value
ACCE score
50
out of 100
Analysts
100% buy
3 covering
P/E
12.5x
forward 20.9x
1-year return
+39.4%
Dividend yield
1.21%
Andersons Inc. (The) Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
The Andersons is a Maumee, Ohio agribusiness that runs three segments: grain merchandising and trading, ethanol and renewable fuels through its stake in Lake Erie Biofuels and other plants, and a plant nutrient business that sells fertilizer through its retail network. Its edge is the grain elevator and rail network it has built across the Midwest, which lets it origination grain and capture basis spreads that smaller merchants cannot. Near-term support comes from the renewable fuels segment and from the trade and crush margin cycle, though the company's own margins are thin, with a 7.2% gross margin and a 1.6% operating margin against revenue that fell 1.2%. At a trailing P/E of 13.0 and a forward P/E of 20.9, the market is pricing earnings to decline, not recover, so the case rests on whether grain and fertilizer margins normalise faster than consensus expects. With a 50/100 score, no index membership, and a 12.2% return on equity, it reads as a cyclical merchant worth a deeper look only if you have a specific view on the commodity spread cycle.
⚠ Investor warnings · 4 flagsAI-assisted·How I use AI
high
Negative free cash flow
Free cash flow is -$56.1M while debt/equity sits at 0.84. The company is burning cash and funding it with borrowing or working capital, which limits balance sheet flexibility.
moderate
Revenue shrinking year on year
Revenue fell 1.2% year on year despite a 6.4% five-year CAGR, so the top line has turned down recently.
moderate
Thin operating margin
Operating margin is 1.6% and net margin is 1.6%. Earnings growth of 618.2% starts from a very low base, so the jump says little about durable profitability.
moderate
ACCE score down 7 points
The ACCE score fell from 59 to 52 over 90 days, with quality at 35 and growth at 43 as the weakest components.
AI research notes
AI-assisted·How I use AIWritten Oct 19, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Analysts rate the stock Buy or Strong Buy, and their mean price target sits 33.5% above the current price.
The company beat earnings expectations last quarter, reporting 2.15 per share against 1.48 expected, a 45.3% surprise.
Consensus model fair value of $89.30 sits 27.3% above the share price, and the stock also pays a 1.2% dividend yield.
Why it could disappoint
Free cash flow over the last twelve months was negative at -$56M, so the business consumed cash rather than generating it.
Revenue fell 1.2% year over year, a sharp reversal from its 6.4% average annual growth over the past five years.
Return on invested capital of 3.4% is thin, and the 1.6% net margin leaves little cushion if trading margins tighten further.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 3, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
INVESTOR
Where ANDE's valuation models land
Price
$64.93
Model fair value
$89.30
Model range
$68.27 to $115
Fair value $89.30
Price $64.93
The price is below the whole model range.
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
P/E comparison
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Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
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+Conviction breakdown and growth / value / quality / momentum scores