Quality Investor

Ingles Markets, Incorporated

Rank #84Decline

IMKTA · Nasdaq · Consumer Defensive

Ingles Markets, Incorporated (IMKTA) — Rank #84 by gross profitability (GP/assets 0.48) · ROE 5.0% · Piotroski F-Score N/A.

As-of 2026-09-15 · CIK 0000050493 · all metrics point-in-time as of the filing date.

About

Ingles Markets, Incorporated, together with its subsidiaries, operates a chain of supermarkets in the United States.

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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. It 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, the company 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. It operates under the Ingles and Sav-Mor brand names.

Ingles Markets, Incorporated was founded in 1963 and is headquartered in Asheville, North Carolina.

Industry
Grocery Stores
Sector
Consumer Defensive
State
NC
Filer Category
Large accelerated filer
Fiscal Year End
September 26

Price History

IMKTA+23.7% · +4.3% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/E, P/B, and dividend yield matter most — book value provides a floor.

Market Cap

$1.56B

P/E (annual)

P/S (annual)

0.3

P/B

0.9

P/OCF (annual)

10.1

Shareholder Yield

Employees

12,152

Industry

Grocery Stores

Exchange

Nasdaq

Signal Flags

2 red
Revenue declining YoYRevenue contracted year over year
Operating margin decliningOperating margin lower than prior year

Quality Profile

Profitability

1/1 pass
GP / assets
0.48
Return on equity
5.0%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.56
Current ratio
3.21×
Net cash
-$45.44M

Cash Flow

2/3 pass
Positive FCF
PASS
Cash-backed earnings
WARN
Accruals healthy
PASS
SBC / revenue

Growth

0/1 pass
Revenue growth
-5.4%
Piotroski F-Score
N/A
Share dilution

Terry Smith quality gate

Passes 0/5 Terry Smith thresholds

Asset value and restructuring potential (balance-sheet strength) are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.48

Primary signal (Novy-Marx).

Return on equity

5.0%

Gross margin

23.9%

Revenue growth (YoY)

-5.4%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

-2.1%

Revenue CAGR (5Y)

3.0%

Earnings CAGR (3Y)

-32.6%

FCF CAGR (3Y)

-43.5%

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.56

Current ratio

3.21×

Quick ratio

1.69×

Net cash

-$45.44M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$39.60M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

-0.53

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

WARN

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

Stock-based comp intensity.

Dividend safety

Composite score

4.0 / 5

Strong
Payout ratio
14.7%5/5 Strong
FCF coverage
3.23×5/5 Strong
Dividend growth streak
3 yr2/5 Fair
Balance-sheet health
D/E 0.56 · IC 5.97×4/5 Strong

Piotroski F-Score

F-Score

N/A

Only 8/9 components determinable.

Lifecycle Phase History

20202025
Capital Return
Value
Decline