Ingles Markets, Incorporated, together with its subsidiaries, operates a chain of supermarkets in the United States. The company offers food products, such as grocery, meat, and dairy products, produce, frozen food, and other perishables; and non-food products, which include fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items, organic, and locally sourced items. It also owns and operates a milk processing and packaging plant that supplies organic milk, fruit juices, and bottled water products to other retailers, food service distributors, and grocery warehouses. In addition, the company provides home meal replacement items, delicatessens, bakeries, floral departments, and greeting cards, as well as broad selections of local organic, beverage, and health-related items. It operates under the Ingles and Sav-Mor brand names. Ingles Markets, Incorporated was founded in 1963 and is headquartered in Asheville, North Carolina.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $5.3B | $253M | $84M | $40M | 5.2% | -5.4% | -20.8% |
| 2024 | $5.6B | $283M | $106M | $52M | 6.8% | -4.3% | -49.9% |
| 2023 | $5.9B | $417M | $211M | $93M | 14.4% | 3.8% | -22.7% |
| 2022 | $5.7B | $501M | $273M | $220M | 21.7% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 5,678.84 | 5,892.78 | 5,639.61 | 5,334.03 |
| Operating Revenue | - | 5,678.84 | 5,892.78 | 5,639.61 | 5,334.03 |
| Cost Of Revenue | - | 4,263.07 | 4,487.87 | 4,339.77 | 4,059.89 |
| Gross Profit | - | 1,415.77 | 1,404.92 | 1,299.84 | 1,274.14 |
| Operating Expense | - | 1,040.19 | 1,115.38 | 1,157.30 | 1,128.54 |
| Selling General And Administration | - | 10.90 | 10.60 | 9.70 | 7.40 |
| Total Expenses | - | 5,303.26 | 5,603.25 | 5,497.07 | 5,188.44 |
| Operating Income | - | 375.57 | 289.53 | 142.54 | 145.60 |
| Total Operating Income As Reported | - | 376.93 | 292.30 | 147.14 | 117.58 |
| EBITDA | - | 500.58 | 416.55 | 282.98 | 252.54 |
| Normalized EBITDA | - | 499.22 | 413.78 | 278.38 | 280.55 |
| EBIT | - | 382.78 | 300.57 | 161.36 | 129.65 |
| Interest Expense | - | 21.51 | 22.07 | 21.86 | 19.71 |
| Net Interest Income | - | -21.51 | -22.07 | -21.86 | -19.71 |
| Other Non Operating Income Expenses | - | 5.85 | 8.27 | 14.22 | 12.07 |
| Other Income Expense | - | 7.20 | 11.04 | 18.82 | -15.95 |
| Interest Expense Non Operating | - | 21.51 | 22.07 | 21.86 | 19.71 |
| Net Non Operating Interest Income Expense | - | -21.51 | -22.07 | -21.86 | -19.71 |
| Pretax Income | - | 361.27 | 278.50 | 139.50 | 109.94 |
| Tax Provision | - | 88.51 | 67.69 | 33.96 | 26.34 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.33 | 0.67 | 1.12 | -6.72 |
| Net Income Continuous Operations | - | 272.76 | 210.81 | 105.54 | 83.59 |
| Net Income From Continuing And Discontinued Operation | - | 272.76 | 210.81 | 105.54 | 83.59 |
| Net Income From Continuing Operation Net Minority Interest | - | 272.76 | 210.81 | 105.54 | 83.59 |
| Net Income | - | 272.76 | 210.81 | 105.54 | 83.59 |
| Net Income Common Stockholders | - | 272.76 | 210.81 | 105.54 | 83.59 |
| Net Income Including Noncontrolling Interests | - | 272.76 | 210.81 | 105.54 | 83.59 |
| Normalized Income | - | 271.73 | 208.72 | 102.05 | 104.89 |
| Diluted NI Availto Com Stockholders | - | 272.76 | 210.81 | 105.54 | 83.59 |
| Basic Average Shares | - | 18.57 | 18.57 | 18.58 | 18.58 |
| Diluted Average Shares | - | 18.99 | 18.99 | 18.98 | 19 |
| Reconciled Depreciation | - | 117.80 | 115.98 | 121.62 | 122.89 |
| Reconciled Cost Of Revenue | - | 4,263.07 | 4,372.12 | 4,218.43 | 3,937.32 |
| Total Unusual Items | - | 1.36 | 2.77 | 4.61 | -28.02 |
| Total Unusual Items Excluding Goodwill | - | 1.36 | 2.77 | 4.61 | -28.02 |
| Special Income Charges | - | 1.36 | 2.77 | 4.61 | -28.02 |
| Other Special Charges | 1.08 | - | - | - | - |
| Impairment Of Capital Assets | - | - | - | 4.50 | 30.40 |
| Depreciation Amortization Depletion Income Statement | - | - | 0.23 | 0.28 | 0.32 |
| Depreciation And Amortization In Income Statement | - | - | 0.23 | 0.28 | 0.32 |
| General And Administrative Expense | - | 10.90 | 10.60 | 9.70 | 7.40 |
| Other Gand A | 963.33 | 1,040.19 | 1,115.38 | - | - |
| Gain On Sale Of Ppe | - | 1.36 | 2.77 | 9.11 | 2.38 |
| Rent Expense Supplemental | - | 10.90 | 10.60 | 9.70 | 7.40 |
| Other Operating Expenses | - | 1,029.29 | 1,104.55 | 1,147.32 | 1,120.83 |
| Rent And Landing Fees | - | 10.90 | 10.60 | 9.70 | 7.40 |
| Amortization | - | - | 0.23 | 0.28 | 0.32 |
| Amortization Of Intangibles Income Statement | - | - | 0.23 | 0.28 | 0.32 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Ingles Markets, Incorporatedthis co. | IMKTA | $1.7B | 19.80β premium | 1.02 | 5.2% | 7.26 |
| Spectrum Brands Holdings, Inc. | SPB | $1.9B | 18.97 | 0.99 | 5.2% | 11.27 |
| Weis Markets, Inc. | WMK | $1.9B | 19.99 | 1.39 | 6.9% | 8.08 |
| Strategic Education, Inc. | STRA | $1.8B | 14.46 | 1.11 | 7.7% | 7.33 |
| Turning Point Brands, Inc. | TPB |
| - |
| - |
| - |
| - |
| - |
| - |
| $1.7B |
| 29.19 |
| 4.79 |
| 16.4% |
| 15.39 |
| Newell Brands Inc. | NWL | $1.6B | -5.73 | 0.68 | -11.9% | 20.08 |
| Lincoln Educational Services Corporation | LINC | $1.6B | 80.26 | 8.04 | 10.0% | 36.58 |
| Coursera, Inc. | COUR | $1.6B | -31.27 | 2.51 | -8.0% | - |
| Fresh Del Monte Produce Inc. | FDP | $1.4B | 15.41 | 0.69 | 4.5% | 7.97 |
| Peer Median | - | 17.19 | 1.25 | 6.1% | 11.27 | |