Ingles Markets, Incorporated
$88.61
-1.6%Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. It offers food products, including grocery, meat and dairy products, produce, frozen foods, 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. The company 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, it 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. As of September 25, 2021, the company operated 189 supermarkets under the brand name Ingles, and nine supermarkets under the brand name Sav-Mor in western North Carolina, western South Carolina, northern Georgia, eastern Tennessee, southwestern Virginia, and northeastern Alabama, as well as 111 pharmacies and 107 fuel stations. Ingles Markets, Incorporated was founded in 1963 and is headquartered in Asheville, North Carolina.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is mid-range (P/E 15.6).
Valuation inputs: P/E 15.6, earnings yield +6.4%, momentum -1.6%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE +5.2%, ROIC +3.9%).
Profitability stack: net margin +1.6%, ROE +5.2%, ROIC +3.9%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +37.0%, momentum -1.6%, net margin +1.6%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Ingles Markets, Incorporated Market vs Earnings Trajectory
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Ingles Markets, Incorporated Fair Value Envelope
Ingles Markets, Incorporated Profit Bridge
Profitability Analysis
Gross Margin
Moderate margins typical of competitive industries. Monitor for pricing pressure or rising costs.
Operating Margin
Minimal operating profit suggests high operating costs or pricing challenges. Scalability is concerning.
Net Profit Margin
Minimal profitability after all expenses. Limited financial flexibility for reinvestment or shareholder returns.
Effective Tax Rate
Moderate tax rate typical for most corporations. Represents standard tax burden on profits.
Profitability Insight
Room for improvement: Moderate profitability with opportunities to enhance margins through better cost management or pricing strategy.
Ingles Markets, Incorporated Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Weak cash conversion. Significant portion of earnings not converting to cash—review working capital trends and capital intensity.
CapEx Intensity
Very high capital intensity consumes most operating cash flow. Limited flexibility for dividends or debt reduction.
FCF Growth Trend
Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.
Working Capital Impact
Significant working capital drain. Growth may be consuming cash through inventory buildup or receivables extension—monitor closely.
Cash Flow Quality Insight
Deteriorating cash generation: Both declining FCF and weak conversion rate signal fundamental challenges. Investigate margin pressure, rising costs, or working capital issues.
Ingles Markets, Incorporated Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Warning: Liquidity concerns. Current assets may not be sufficient to cover short-term obligations.
Debt-to-Equity Ratio
Balanced capital structure with moderate leverage. Equity exceeds debt, suggesting healthy financial stability.
Working Capital
Negative working capital indicates short-term liabilities exceed short-term assets—potential liquidity stress.
Asset Composition
Capital-intensive business with significant long-term investments in property, equipment, or intangibles.
Financial Health Insight
Negative working capital but strong cash position suggests an efficient operating model (common in retail/subscription businesses) rather than financial distress.
Ingles Markets, Incorporated Street Expectations Map
No Target Data
No analyst price targets available for imkta.
Ingles Markets, Incorporated Insider Positioning
During the last 12 months, insiders have purchased $44K worth of IMKTA shares, with no selling activity reported.
3 Months
500
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+$44K
3-6 Months
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6-9 Months
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9-12 Months
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Top Buyers
Jacobs Dwight L.
Director
$44K
Top Sellers
No selling activity
Insider Activity Analysis
Net Insider Sentiment
Strong bullish signal with $44K net buying. Insiders are aggressively accumulating shares, suggesting significant confidence in future prospects.
Buy/Sell Ratio
Perfect buy/sell ratio. Only buying activity with zero selling—the most bullish possible insider signal.
Recent Trend (3 Months)
Very strong recent buying momentum. Recent insider purchases significantly outpace sales, suggesting near-term optimism.
Insider Participation
1 insider buyers vs. 0 sellers. Broad-based buying across management team suggests widespread confidence.
Insider Activity Insight
Unanimous insider buying: Zero selling combined with active buying is rare and typically very bullish. Insiders appear to see significant upside with limited downside risk.
imkta Dividend History
Learning Layer
Related Guides
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Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.