Ingles Markets, Incorporated (IMKTA) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+50.7%

$129.37

vs $85.86 price

Levered DCF

$99.96

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.51

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	15.27×	13.09×	6.64×	5.57×	5.01×	4.03×	9.39×	6.82×
P/B	0.81×	0.89×	0.96×	1.21×	1.27×	0.88×	1.16×	1.11×
P/S	0.24×	0.25×	0.24×	0.27×	0.25×	0.16×	0.18×	0.16×
EV / EBITDA	5.87×	5.63×	4×	3.72×	3.87×	3.49×	5.91×	6.3×
Gross margin	23.9%	23.0%	23.8%	24.9%	26.1%	26.0%	24.3%	23.9%
Operating margin	2.2%	2.6%	5.0%	6.6%	7.0%	6.1%	3.6%	3.0%
Net margin	1.6%	1.9%	3.6%	4.8%	5.0%	3.9%	1.9%	2.4%
Current ratio	3.22×	2.89×	2.88×	2.51×	1.88×	1.45×	2.01×	1.91×
Debt / equity	0.34×	0.37×	0.41×	0.49×	0.64×	0.8×	1.29×	1.45×
Interest coverage	5.97×	6.73×	13.25×	17.53×	14.39×	6.93×	3.21×	2.62×
Dividend yield	0.9%	0.9%	0.9%	0.8%	1.0%	1.8%	1.7%	2.0%
Payout ratio	14.7%	11.6%	5.8%	4.5%	5.1%	7.3%	15.9%	13.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.2%	6.8%	14.4%	21.7%	25.4%	21.8%	12.3%	16.4%
Return on invested capital	3.9%	5.0%	10.2%	14.3%	15.3%	13.3%	7.1%	7.9%
Return on assets	3.3%	4.2%	8.5%	11.9%	12.4%	9.4%	4.4%	5.3%
Free cash flow yield	3.0%	3.7%	6.6%	14.5%	13.2%	31.6%	6.5%	1.6%
Earnings yield	6.4%	7.6%	15.1%	18.0%	19.9%	24.8%	10.7%	14.7%
Enterprise value	$1.5B	$1.6B	$1.7B	$1.9B	$1.8B	$1.4B	$1.6B	$1.5B
Net debt / EBITDA	0.7×	0.75×	0.64×	0.69×	1.2×	1.65×	3.04×	3.55×
Cash conversion cycle (days)	35	27	30	27	27	24	32	31