Ingram Micro Holding Corp. (INGM)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$56.0B

Revenue growth

11.5%

Net income, last twelve months

$430.6M

Earnings per share

$1.83

Gross margin

6.6%

Operating margin

1.8%

Net margin

0.8%

Free cash flow

-$231.6M

Return on equity

10.1%

Market value

$6.7B

Price to earnings

15.5x

Dividend yield

1.1%

Cash

$809.0M

Debt

$3.8B

Debt to equity

0.89

Shares outstanding

235.4M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of fiscal 2026 results, filed 30 July 2026.

• Net sales rose 13.6%. Net sales were $14.5 billion against $12.8 billion a year earlier. Foreign currency translation added 1 percentage point to the year-over-year comparison.
• Diluted EPS rose to $0.48. Diluted EPS was $0.48 against $0.16, and non-GAAP diluted EPS was $0.82 against $0.61. Net income was $110.9 million against $37.8 million.
• Gross profit up 14.2%. Gross profit was $958.7 million, up 14.2% on the prior year. Gross margin was 6.60%, the prior year being 6.56%.
• Adjusted operating income up 32.7%. Adjusted income from operations was $280.4 million, up $69.1 million, which management attributed to gross profit growth and operating expense leverage.
• Asia-Pacific sales up 27.1%. Asia-Pacific net sales were $4.4 billion, with operating margin of 2.13% against 1.25%. The region was the second-largest by both net sales and operating margin.
• North America client sales grew. North America net sales were $5.3 billion, up 6.0%. Operating margin was 1.39% against 0.66% in the prior year quarter.
• Latin America margin rose. Latin America net sales were $1.1 billion, and operating margin rose to 3.74% from 2.94%, with a 76 basis point gross margin increase.
• EMEA margin declined. EMEA net sales were $3.7 billion, up 7.7%. Operating margin fell to 1.46% from 1.60%, reflecting higher restructuring and bad debt expense as a share of sales.
• Cloud sales up 35%. Cloud-based Solutions net sales rose 35%, or 54% excluding the CloudBlue divestiture. EMEA cloud grew 44% and Latin America cloud grew 71%.
• Asia-Pacific GPU sales up 51%. Asia-Pacific Advanced Solutions net sales rose 51%, driven by GPU and AI-infrastructure product sets.
• North America storage and security. North America Advanced Solutions rose 3%, driven by storage, cybersecurity and infrastructure software in the United States.
• Gross margin edged higher. Gross margin was 6.60% against 6.56%. The prior year quarter carried an 8 basis point negative impact from held-for-sale accounting.
• AI mix lowered margin. Sales mix shifted toward lower-margin AI-infrastructure products, which offset part of the benefit from operating expense leverage in the year-over-year margin comparison.
• SG&A ratio fell. SG&A declined as a share of net sales, which the company cited as the source of the operating margin improvement.

Revenue by segment

As the company reports it in the segment note of its annual report.

By product, FY2025

By region, FY2025

Company events

The newest 8-K filings of 17 held.

Every filing

The newest filings with the SEC of 75 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

243 funds held it at 30 Jun 2026: 161 added and 44 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• TD Synnex Corp. (SNX): revenue $75.7B, market value $20.5B
• Eplus Inc. (PLUS): revenue –, market value $2.5B
• PC Connection Inc. (CNXN): revenue $3.2B, market value $2.2B
• Scansource, Inc. (SCSC): revenue $3.2B, market value $1.2B

What the company does

Ingram Micro Holding Corporation distributes IT products, cloud and other services worldwide. The company operates in 57 countries and serves further markets through export sales offices and telesales. As of 27 December 2025 it had approximately 22,200 full-time associates.

How the business is organised

Ingram Micro reports four segments based on geography: North America; Europe, Middle East and Africa (EMEA); Asia-Pacific; and Latin America. In Fiscal Year 2025, North America made up 36% of net sales, EMEA 29%, Asia-Pacific 28% and Latin America 7%. Approximately 66% of consolidated net sales came from international operations, so changes in the U.S. dollar against other currencies affect the company. The same four product categories are offered in every segment.

What it sells

The company groups its offerings into four lines of business:

- Client and Endpoint Solutions: higher-volume products such as desktop computers, notebooks, tablets, printers, components, peripherals, smartphones and other mobile devices. - Advanced Solutions: enterprise hardware and software for project-based sales, including servers, storage, networking, cybersecurity, and power and cooling. It also covers AI-related products, data capture and point-of-sale, physical security, audio visual, unified communications and IoT products, along with training, professional services and financing. Volumes are lower than in Client and Endpoint Solutions, and the company says margins are generally higher. - Cloud-based Solutions: more than 200 third-party cloud services and subscriptions, sold through the Ingram Micro Cloud Marketplace. The company says it manages over 40 million seats. This category also included the CloudBlue software business, which was sold during the third quarter of 2025. - Other: IT asset disposition (ITAD), reverse logistics and repair, which together are less than 5% of net sales.

Advanced Solutions and Cloud together make up more than one-third of net sales and more than half of gross profit.

How it earns money

In its distribution model, Ingram Micro buys products, holds title to them and sells them to resellers. Sales are generally made on purchase orders rather than long-term contracts, and customers can generally cancel, delay or modify orders. Revenue is generally recognised when control passes to the customer, at shipment or delivery. Products ship from the company's facilities, drop-ship from vendors, or are delivered as software keys.

For cloud marketplace services and some software and vendor warranties, the company acts as an agent and records only the net fee. Service revenues are less than 10% of total net sales. Vendors typically offer price protection, return rights and stock rotation to limit inventory risk. The company buys credit insurance in many markets to cover customer payment risk. Tariffs and similar charges are typically passed through in pricing.

Vendors and customers

Vendors named in the filing include Microsoft, Amazon Web Services, Google Cloud, NVIDIA, Advanced Micro Devices, Apple, Cisco, Dell Technologies, Hewlett Packard Enterprise, HP Inc., Lenovo and Super Micro Computer. Products from Apple made up approximately 21% of consolidated net sales in Fiscal Year 2025, Lenovo approximately 10% and HP Inc. approximately 9%.

Customers include value-added resellers, corporate resellers, retailers, systems integrators, mobile network operators, managed service providers and cloud services providers. They serve end users from large enterprises to small and medium-sized businesses, including the public sector. No single customer accounted for more than 10% of net sales. Demand is seasonal, with lower demand in Europe in the summer months and higher demand in the fourth quarter.

Competition and rules

The company says competition rests on service level, product breadth and availability, price, credit terms, financing, speed of delivery and the quality of its platform and tools. Named global competitors are TD Synnex, Arrow Electronics, Scansource, Westcon-Comstor and Synnex Technology International. Local and regional names include Also Holding, Esprinet, Redington, Exclusive Networks, Intcomex, D&H, Carahsoft, AppDirect and Pax8. Vendors that sell directly to resellers, retailers and end users also compete with it.

The company is subject to laws on tax, trade, import and export, anti-corruption and antitrust. It also follows environmental rules such as the European Union Waste Electrical and Electronic Equipment Directive. Privacy rules include the California Consumer Privacy Act and the General Data Protection Regulation.

Its people

Alongside its full-time associates, the company used approximately 5,800 full-time equivalent temporary or contract workers at peak, which it uses to adjust to demand. About 9,800 associates work in sales and marketing. Works councils or unions represent some associates in certain countries. U.S. associates are not represented by a union or covered by a collective bargaining agreement.

Ingram Micro also runs its Xvantage digital platform, which the company says includes more than 42 million lines of code and 400 AI and ML models. Four of its ITAD processing facilities held e-Stewards certifications, three of them in North America.

*From Ingram Micro's annual report on Form 10-K for the year ended 27 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1897762/000162828026013588/ingm-20251227.htm)*

From the company's 10-K.