INGLES MARKETS INC
IMKTAAbout the company
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.
Investment snapshot
Positive
4
BUY / PASS
Neutral / negative
2 / 10
NEUTRAL / FAIL
Median fair value
—
No comparable estimates
Models with upside
0 / 17
Positive margin of safety
Strongest signal
10 of 12 pass — Lynch and Asness object
Key risk
No clean pass — all 16 investors flag at least one profitability criterion
Framework analysis
| Verdict | Meaning |
|---|---|
| BUY | Positive purchase signal: the framework's buy requirements are met. |
| PASS | The company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state. |
| NEUTRAL | Neither a positive nor negative conclusion. It does not mean to hold an existing position. |
| FAIL | The company does not clear the framework's requirements. |
| Ranked | Ranked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL. |
Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.
| Metric | Graham Defensive Value | Buffett Quality Compounder | Lynch GARP | Greenblatt Magic Formula | Piotroski F-Score | Dreman Contrarian Value | Munger Quality Focus | Pabrai Dhandho Framework | Akre Three-Legged Stool | Marks Risk-Aware Value | Ackman Activist Value | Templeton Global Bargain Hunter | Sleep Scale Economies Shared | Asness Systematic Factors | Neff Low-P/E Total Return | Schloss Asset-Value Discipline | O'Shaughnessy Systematic Factor Composite |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Verdict | PASS | PASS | FAIL | FAIL · Rank #1124 (Top 36.3%) | NEUTRAL | FAIL | PASS | FAIL | FAIL | FAIL | FAIL | FAIL | FAIL | BUY | FAIL | FAIL | NEUTRAL |
| Score | |||||||||||||||||
| Analysis | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… |
| Intrinsic Value (annual) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Margin of Safety | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financial Basis | TTM ended 2026-06-27 · Balance sheet at 2026-06-27 · Annual history · FY 2025 Latest source filing: 2026-08-06 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-06-27 Latest source filing: 2026-08-06 Score computed: 2026-11-14 | Annual history · FY 2025 · Balance sheet at 2026-06-27 · TTM ended 2026-06-27 vs 2025-06-28 · TTM ended 2026-06-27 Latest source filing: 2026-08-06 Score computed: 2026-11-14 | TTM ended 2026-06-27 Latest source filing: 2026-08-06 Score computed: 2026-11-14 | Annual history · FY 2025 Latest source filing: 2025-11-26 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-06-27 · Balance sheet at 2026-06-27 · Market data at 2026-11-01 Latest source filing: 2026-08-06 Score computed: 2026-11-14 | Qualitative assessment · Annual history · FY 2025 · TTM ended 2026-06-27 · Balance sheet at 2026-06-27 Latest source filing: 2026-08-06 Score computed: 2026-11-14 | Qualitative assessment · Annual history · FY 2025 Latest source filing: 2025-11-26 Score computed: 2026-11-14 | Annual history · FY 2025 · Qualitative assessment · TTM ended 2026-06-27 · Balance sheet at 2026-06-27 Latest source filing: 2026-08-06 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-06-27 · Qualitative assessment Latest source filing: 2026-08-06 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-06-27 · Balance sheet at 2026-06-27 · Market data at 2026-11-01 Latest source filing: 2026-08-06 Score computed: 2026-11-14 | Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 · Balance sheet at 2026-06-27 Latest source filing: 2026-08-06 Score computed: 2026-11-14 | Annual history · FY 2025 · Qualitative assessment Latest source filing: 2025-11-26 Score computed: 2026-11-14 | TTM ended 2026-06-27 · Balance sheet at 2026-06-27 · Price history 2025-01-01–2026-11-01 · Annual history · FY 2025 Latest source filing: 2026-08-06 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-06-27 Latest source filing: 2026-08-06 Score computed: 2026-11-14 | Annual history · FY 2025 · Balance sheet at 2026-06-27 Latest source filing: 2026-08-06 Score computed: 2026-11-14 | TTM ended 2026-06-27 · Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 Latest source filing: 2026-08-06 Score computed: 2026-11-14 |
Where It Passes
- Debt & Leverage83% pass✓ 13✗ 2▾
10 of 12 pass — Lynch and Asness object
LT Debt vs Net Current AssetsLT Debt $483.0M vs NCA $727.6M✓GrahamLT Debt <= Net Current AssetsDebt/Equity & Interest CoverageD/E: 0.30, IC: 7.7x✓BuffettD/E < 0.5 AND Interest Coverage > 5xTotal Debt / Equity0.30✓Lynch< 0.33Cash - Long-term Debt$-28.0M✗LynchPositive preferredLT Debt / Total Assets Change20.38% -> 19.38%✓PiotroskiDecreased YoYCurrent Assets / Current Liabilities3.21✓Dreman> 1.5✓SchlossCurrent ratio >= 1.50x (app cutoff)Total Debt / Shareholders' Equity0.30✓Dreman< 0.8✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓SchlossD/E < 1.00xDebt Levels0.30✓MungerDebt/Equity < 0.5✓AkreDebt/Equity < 0.3Interest Coverage & Debt/EBITDAIC=7.7x, D/EBITDA=1.9x✓MarksInterest Coverage > 3x; Debt/EBITDA < 4xTotal Debt / Shareholders Equity0.30✓Ackman<= 1.0Negative debt-to-equity (higher means less debt)-0.2971; #1985/4210 (top 47.1%)✗AsnessTop 30% of eligible cross-section - Cash Flow60% pass✓ 7✗ 5▾
6 of 10 pass — Dreman, Pabrai, Ackman +1 more object
Free Cash Flow Proxy$92.0M✓BuffettPositive and growingFCF Positive and Growing$149.6M✓LynchPositive and growingOperating Cash Flow$154.1M✓PiotroskiCFO > 0(CFO / Total Assets) vs ROACFO/Assets=6.01%, ROA=3.26%✓PiotroskiCFO/Assets > ROAPrice / (CFO / Shares)✗Dreman< 8xP/E or FCF YieldFCF Yield=2.5%✗PabraiP/E < 15 or FCF Yield > 10%FCF Positive14/17 years FCF positive✓MarksPositive FCF in majority of recent years(OCF - CapEx) / Market Cap✗Ackman>= 4%Price / FCF per Share✗Ackman<= 25Positive Operating Cash Flow frequency25/25 years positive✓SleepPositive OCF in >= 70% of available yearsOperating Cash Flow - Capital Expenditures$149.6M✓Neff> $0 (app proxy for a strong fundamental case)(Operating cash flow - capex) / market capitalization+9.34%; #829/4519 (top 18.3%)✗OshaughnessyTop 10% of eligible cross-section
Where It Falls Short
- Profitability0% pass✓ 8✗ 27▾
No clean pass — all 16 investors flag at least one profitability criterion
Net income / market capitalization+6.50%; #1282/6340 (top 20.2%)✓AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-sectionPositive EPS (10 years)10/28 years positive✗GrahamPositive EPS every year for 10 yearsEPS Growth (3-yr avg, 10-yr window)✗Graham>= 33% growthNet Income Positive (10+ years)26/28 years positive✗BuffettPositive every year for 10+ yearsROE (up to 5-year arithmetic mean)14.7%✗Buffett> 15% arithmetic mean (app rule)Operating Margin (10-yr trend)2.2% (latest)✗BuffettStable or rising over 10 yearsFree Cash Flow Proxy$92.0M✓BuffettPositive and growingEarnings Variance (10-yr CoV)✗BuffettCoV < 0.3Retained Earnings Effectiveness✗Buffett$1 retained -> > $1 market value createdBasic earnings-growth PEG (dividends excluded)✗Lynch< 1.0 (ideally < 0.5)3-5 Year EPS CAGR29.4%✓Lynch15-30% (Fast Grower); > 0% to passROE6.2%✗Lynch> 15%EBIT / Enterprise Value8.7%✗Greenblatt> 10%Earnings Yield + ROC AssessmentEY=8.7%, ROC=8.0%✗GreenblattBoth EY > 10% and ROC > 25%Net Income / Total Assets3.26%✓PiotroskiROA > 0ROA Change YoY4.18% -> 3.26% (delta: -0.92%)✗PiotroskiCurrent ROA > Prior ROA(CFO / Total Assets) vs ROACFO/Assets=6.01%, ROA=3.26%✓PiotroskiCFO/Assets > ROAGross Margin Change YoY23.0% -> 23.9%✓PiotroskiImproved YoYPre-Tax Income / Revenue2.5%✗Dreman>= 8%Net Income / Shareholders' Equity6.2%✗Dreman> 12%Margin of Safety✗PabraiP/B < 1.5 or P/E < 15Return on Equity8.8% (3-yr avg)✗AkreROE > 20% (3-year avg)Discount to Intrinsic Value✗Marks>= 20% below intrinsic valuePositive Net Income Frequency26/26 years positive✓MarksPositive net income in >= 7 of last 10 yearsOperating Income / Revenue2.6%✗Ackman>= 15%Net Income / Shareholders Equity6.2%✗Ackman>= 15%5-Year EPS CAGR✗Templeton> 0% (5-year EPS CAGR)Operating Margin Trend5.0% (2023) -> 2.2% (2025)✗TempletonNon-negative operating-margin trend over 3 yearsRevenue growth vs. gross and operating margin trendgross margin 23.8% -> 23.9%, operating margin 5.0% -> 2.2%✗SleepRevenue rising; gross margin flat or falling; operating margin holdingGross profit / total assets+50.39%; #662/3702 (top 17.9%)✓AsnessTop 30% of eligible cross-sectionNet income / positive book equity+6.17%; #2315/5226 (top 44.3%)✗AsnessTop 30% of eligible cross-sectionNegative 5-year standard deviation of ROA-0.0378; #2207/5884 (top 37.5%)✗AsnessTop 30% of eligible cross-section3-5 Year Diluted EPS CAGR29.4% over 5 years✗Neff7%-20% annualizedPositive Diluted-EPS Years✗Schloss>= 70% positive over 5-10 observed years (app rule) - Valuation8% pass✓ 2✗ 26▾
12 of 13 flag IMKTA's valuation — Graham, Lynch, Greenblatt +9 more
Net income / market capitalization+6.50%; #1282/6340 (top 20.2%)✓AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-sectionPrice / 3-yr avg EPS✗Graham<= 15xPrice-to-Book Ratio✗Graham<= 1.5xP/E x P/B✗Graham<= 22.5Basic earnings-growth PEG (dividends excluded)✗Lynch< 1.0 (ideally < 0.5)EBIT / Enterprise Value8.7%✗Greenblatt> 10%Earnings Yield + ROC AssessmentEY=8.7%, ROC=8.0%✗GreenblattBoth EY > 10% and ROC > 25%Price / EPS✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)Price / (CFO / Shares)✗Dreman< 8xPrice / Book Value per Share✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)Valuation Reasonableness✗MungerP/E < 25 or Owner Earnings Yield > 5%P/E or FCF YieldFCF Yield=2.5%✗PabraiP/E < 15 or FCF Yield > 10%P/B or P/E vs. Historical Average✗MarksP/E < 15 or P/B < 2.0Discount to Intrinsic Value✗Marks>= 20% below intrinsic valuePrice / FCF per Share✗Ackman<= 25Price vs. Trailing Low137% of trailing low ($61.44)✗Templeton<= 120% of trailing low (certified split-adjusted live window)Positive book equity / market capitalization+1.0524; #1392/6449 (top 21.6%)✓AsnessTop 30% of eligible cross-sectionPrice / Diluted EPS✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)(EPS CAGR % + Dividend Yield %) / P/E✗Neff> 0.7 (Neff's published traditional edge)Price / Tangible Book Value per Share✗SchlossP/TBV <= 1.00x (app cutoff)Book Value per Share Change✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)Revenue / market capitalization+3.3842; #735/5247 (top 14.0%)✗OshaughnessyTop 10% of eligible cross-section(Operating cash flow - capex) / market capitalization+9.34%; #829/4519 (top 18.3%)✗OshaughnessyTop 10% of eligible cross-sectionTrailing six-month price return through the evaluation date-10.38%; #3459/6202 (top 55.8%)✗OshaughnessyTop 10% of eligible cross-section - Growth13% pass✓ 3✗ 10▾
7 of 8 flag IMKTA's growth — Graham, Lynch, Dreman +4 more
EPS Growth (3-yr avg, 10-yr window)✗Graham>= 33% growthBasic earnings-growth PEG (dividends excluded)✗Lynch< 1.0 (ideally < 0.5)3-5 Year EPS CAGR29.4%✓Lynch15-30% (Fast Grower); > 0% to passInventory Growth vs Revenue GrowthInv: -1.6% vs Rev: 1.0%✓LynchInventory growth < Revenue growthEPS Growth Direction✗DremanPositive over recent yearsEPS CAGR✗Dreman> 5% annualizedPositive Net Income Frequency26/26 years positive✓MarksPositive net income in >= 7 of last 10 years3yr Median Revenue Growth-4.3%✗Ackman>= 5%Positive EPS Growth Frequency✗AckmanPositive EPS growth in >= 3 of last 5 years5-Year EPS CAGR✗Templeton> 0% (5-year EPS CAGR)Revenue growth vs. gross and operating margin trendgross margin 23.8% -> 23.9%, operating margin 5.0% -> 2.2%✗SleepRevenue rising; gross margin flat or falling; operating margin holding5-year Revenue CAGR3.0%✗SleepCAGR > 7%3-5 Year Diluted EPS CAGR29.4% over 5 years✗Neff7%-20% annualized - Verdicts27% pass✓ 4✗ 11▾
Split decision: 10 FAIL · 3 PASS · 2 NEUTRAL · 1 BUY
Overall verdict✓GrahamPASS (4/9)✓BuffettPASS (4/9)✗LynchFAIL (4/7)✗GreenblattRank #1124•PiotroskiNEUTRAL (F-Score 6)✗DremanFAIL (3/11)✓MungerPASS (2/4)✗PabraiFAIL (0/3)✗AkreFAIL (2/6)✗MarksFAIL (3/5)✗AckmanFAIL (2/9)✗TempletonFAIL (3/8)✗SleepFAIL (2/6)✓AsnessBUY (Rank #172/2370 (Top 7.3%))✗NeffFAIL (2/6)✗SchlossFAIL (3/7)•OshaughnessyNEUTRAL (Not ranked) - Efficiency38% pass✓ 5✗ 6▾
5 of 8 flag IMKTA's efficiency — Greenblatt, Piotroski, Munger +2 more
Current Ratio3.21✓Graham>= 2.0ROIC (3-5 yr avg)12.6%✓Buffett> 10%ROIC - WACC+2.6%✓BuffettPositive (WACC = 10%)EBIT / (NWC + Net Fixed Assets)8.0%✗Greenblatt> 25%Current Ratio Change YoY2.89 -> 3.22✓PiotroskiIncreased YoYRevenue / Total Assets Change YoY2.23x -> 2.08x✗PiotroskiImproved YoYCurrent Assets / Current Liabilities3.21✓Dreman> 1.5Return on Invested Capital5.2%✗Munger> 15%ROIC (high and growing)FY2023: ROIC=11.5%; FY2024: ROIC=5.6%; FY2025: ROIC=4.4%✗AkreLatest 3 consecutive FYs: ROIC > 15% in eachReinvestment Rate x ROIC4.6% (RR=88% x ROIC=5.2%)✗AkreReinvestment Rate * ROIC > 10%ROIC (5-year)2/5 years above 12% (latest 4.4%)✗SleepROIC > 12% in a majority of years
Business & financials
Financial snapshot: annual FY 2025. Current investor scores may use newer quarterly data.
Company Profile
Financial Snapshot
Shareholder Return
Fiscal 2025
Share retirement not available for this company.
- Buybacks
- —
- Dividends
- $12.3M
Company Financials
Latest TTM and quarters alongside annual years
TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.
The latest annual period end is unavailable. Showing the latest fiscal cycle’s quarters; quarter and annual columns may overlap. Quarterly shows the full quarter history.
| Metric | TTM · 2026-06-27 2025-06-29 – 2026-06-27 Sources · derived quarter valuesDerived from cumulative filings: revenue, net income, operating income, gross profit, ebit, pre tax income, interest expense, operating cash flow, depreciation amortization, capex, dividends paid. | Q3 FY 2026 2026-03-29 – 2026-06-27 Sources · derived quarter valuesDerived from cumulative filings: operating cash flow, depreciation amortization, capex, dividends paid. | Q2 FY 2026 2025-12-28 – 2026-03-28 Sources · derived quarter valuesDerived from cumulative filings: operating cash flow, depreciation amortization, capex, dividends paid. | Q1 FY 2026 2025-09-28 – 2025-12-27 Sources | FY 2025Sources
| FY 2024Sources
| FY 2023Sources
| FY 2022Sources
| FY 2021Sources
|
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.6Bcurrent | -- | -- | -- | -- | -- | -- | -- | -- |
| Revenue | $5.4B↑1% | $1.4B↑2% | $1.3B↓2% | $1.4B↑7% | $5.3B↓5% | $5.6B↓4% | $5.9B↑4% | $5.7B↑14% | $5.0B |
| Operating Income | $143.1M↑76% | $34.5M↓8% | $34.5M↑59% | $39.1M↑66% | $117.6M↓20% | $147.1M↓50% | $292.3M↓22% | $376.9M↑8% | $350.1M |
| Net Income | $104.0M↑84% | $25.9M↓1% | $24.3M↑61% | $28.1M↑70% | $83.6M↓21% | $105.5M↓50% | $210.8M↓23% | $272.8M↑9% | $249.7M |
| EPS (Diluted) | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Gross Margin | 24.5%↑6% | 24.3% | 24.9%↑6% | 24.4%↑4% | 23.9%↑4% | 23.0%↓3% | 23.8%↓4% | 24.9%↓5% | 26.1% |
| Operating Margin | 2.6%↑75% | 2.5%↓9% | 2.6%↑62% | 2.9%↑56% | 2.2%↓16% | 2.6%↓47% | 5.0%↓25% | 6.6%↓5% | 7.0% |
| ROE | 6.2%↑74% | — | — | — | 5.2%↓24% | 6.8%↓53% | 14.4%↓33% | 21.7%↓15% | 25.4% |
| Total Debt | $500.5M↓3% | $500.5M↓3% | $503.8M↓3% | $511.5M↓3% | $514.8M↓3% | $532.6M↓3% | $550.2M↓4% | $571.9M↓3% | $589.5M |
| Shareholders' Equity | $1.7B↑6% | $1.7B↑6% | $1.7B↑6% | $1.6B↑5% | $1.6B↑5% | $1.5B↑6% | $1.5B↑16% | $1.3B↑28% | $983.3M |
| Current Ratio | 3.21↑2% | 3.21↑2% | 3.34↑5% | 3.36↑4% | 3.22↑12% | 2.89 | 2.88↑15% | 2.51↑34% | 1.88 |
| Debt / Equity | 0.30↓9% | 0.30↓9% | 0.30↓9% | 0.31↓8% | 0.32↓8% | 0.34↓9% | 0.38↓17% | 0.45↓24% | 0.60 |
| Operating Cash Flow | $249.1M↑49% | $67.0M↓10% | $83.8M↑33% | $38.4M↑188% | $154.1M↓41% | $262.5M↓1% | $266.4M↓22% | $339.5M↑11% | $306.3M |
| Free Cash Flow | $149.6M↑1714% | $43.6M↓4% | $67.1M↑73% | $2.1M↑103% | $39.6M↓23% | $51.7M↓44% | $92.8M↓58% | $219.9M↑33% | $165.7M |
Score history
Historical Score Timeline
Industry peers
Industry Peers
Similar companies in Retail
IMKTA vs Peers — Financial Grading
| Company | Market Cap | Price | Revenue | Net Income | ROE | D/E | Op. Margin | Curr. Ratio | Graham | Buffett | Lynch | Greenblatt | Piotroski | Dreman |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| COSTCO WHOLESALE CORP /NEWCOST | $490.2B | $1106.21 | $275.2B | $8.1B | 27.8% | 0.20 | 3.8% | 1.03 | 2/9 | 5/9 | 6/7 | 1/3 | F-Score 6 | 3/11 |
| HOME DEPOT, INC.HD | $347.9B | $348.69 | $164.7B | $14.2B | 110.5% | 4.00 | 12.7% | 1.06 | 3/9 | 5/9 | 3/7 | 1/3 | F-Score 4 | 3/11 |
| TJX COMPANIES INC /DE/TJX | $148.4B | $134.37 | $60.4B | $5.5B | 53.9% | 0.28 | — | 1.14 | 3/9 | 6/9 | 7/7 | 1/3 | F-Score 7 | 4/11 |
| FASTENAL COFAST | $63.3B | $55.19 | $8.2B | $1.3B | 31.9% | 0.03 | 20.2% | 4.85 | 4/9 | 7/9 | 5/7 | 1/3 | F-Score 7 | 5/11 |
| AUTOZONE INCAZO | $52.5B | $3259.70 | $18.9B | $2.5B | -73.2% | -2.61 | 19.1% | 0.88 | 3/9 | 6/9 | 2/7 | 1/3 | F-Score 6 | 4/11 |
| KROGER COKR | $41.8B | $70.80 | $147.6B | $1.0B | 17.1% | 2.68 | 1.3% | 0.80 | 3/9 | 4/9 | 3/7 | 0/3 | F-Score 7 | 3/11 |
| WILLIAMS SONOMA INCWSM | $29.9B | $254.05 | $7.8B | $1.1B | 52.3% | — | 18.1% | 1.39 | 3/9 | 6/9 | 3/7 | 1/3 | F-Score 5 | 3/11 |
| CASEYS GENERAL STORES INCCASY | $26.3B | $712.08 | $17.6B | $714.4M | 18.1% | 0.62 | — | 1.01 | 3/9 | 3/9 | 2/7 | 0/3 | F-Score 9 | 3/11 |