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Electronics & computer distribution · Technology · Fiscal year ends Dec 28
Ingram Micro reported revenue of $52.6B in the fiscal year ended Dec 2025, up 9.5% from the year before. Operating income was $877M, an operating margin of 1.7%, and net income was $328M. Operating cash flow of $916M less capital expenditure of $131M left free cash flow of $785M. Net debt was $1.3B.
Ranks among the 7 electronics & computer distribution companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Revenue | 50,824 | 48,040 | 47,984 | 52,556 |
| Cost of revenue | 47,131 | 44,493 | 44,539 | 49,052 |
| Gross profit | 3,693 | 3,547 | 3,445 | 3,504 |
| Selling, general & admin | 2,716 | 2,584 | 2,589 | 2,612 |
| Operating income | 3,249 | 944 | 818 | 877 |
| Interest expense | 320 | 380 | 338 | 303 |
| Pre-tax income | 2,815 | 523 | 446 | 531 |
| Income tax | 420 | 170 | 182 | 203 |
| Net income | 2,394 | 353 | 264 | 328 |
| Diluted EPS | 10.77 | 1.59 | 1.18 | 1.39 |
| Diluted shares | 222 | 222 | 225 | 235 |
| Fiscal year | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Cash & equivalents | 1,320 | 948 | 918 | 1,865 |
| Receivables | – | 8,989 | 9,448 | 10,547 |
| Inventory | – | 4,660 | 4,699 | 4,970 |
| Current assets | – | 15,354 | 15,801 | 18,241 |
| Net PP&E | – | 453 | 483 | 532 |
| Goodwill | 845 | 852 | 834 | 855 |
| Total assets | – | 18,420 | 18,780 | 21,244 |
| Payables | – | 9,230 | 10,006 | 11,963 |
| Current liabilities | – | 10,663 | 11,307 | 13,681 |
| Short-term debt | – | 266 | 185 | 450 |
| Long-term debt | – | 3,658 | 3,168 | 2,750 |
| Total liabilities | – | 14,914 | 15,046 | 16,996 |
| Shareholders' equity | 3,058 | 3,506 | 3,734 | 4,248 |
| Fiscal year | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Operating cash flow | −361 | 58.8 | 334 | 916 |
| Capital expenditure | 136 | 202 | 143 | 131 |
| Free cash flow | −497 | −143 | 191 | 785 |
| Depreciation & amortisation | 197 | 184 | 189 | 197 |
| Stock-based compensation | 0.0 | 0.0 | 34.1 | 21.1 |
| Dividends paid | 1,754 | 10.5 | 6.2 | 78.4 |
| Dividend per share | – | – | – | 0.31 |
| Fiscal year | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Revenue growth (YoY) | – | −5.5% | −0.1% | 9.5% |
| Operating income growth (YoY) | – | −70.9% | −13.4% | 7.2% |
| EPS growth (YoY) | – | −85.2% | −25.8% | 17.8% |
| Gross margin | 7.3% | 7.4% | 7.2% | 6.7% |
| Operating margin | 6.4% | 2.0% | 1.7% | 1.7% |
| Net margin | 4.7% | 0.7% | 0.6% | 0.6% |
| Return on equityBlank when equity is negative | 78.3% | 10.1% | 7.1% | 7.7% |
| ROCEEBIT ÷ (assets − current liabilities) | – | 12.2% | 10.9% | 11.6% |
| Free cash flow margin | −1.0% | −0.3% | 0.4% | 1.5% |
| Cash conversion (CFO ÷ net income) | −0.15x | 0.17x | 1.26x | 2.79x |
| Receivable days | – | 68 | 72 | 73 |
| Inventory days | – | 38 | 39 | 37 |
| Payable days | – | 76 | 82 | 89 |
| Interest cover | 10.1x | 2.48x | 2.42x | 2.90x |
| Debt ÷ equity | – | 1.12x | 0.90x | 0.75x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | 2,975 | 2,435 | 1,335 |
| Current ratio | – | 1.44x | 1.40x | 1.33x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.