INGLES MARKETS INC

Listed Company

IMKTACIK 0000050493NasdaqLarge AcceleratedRetail-Grocery StoresNorth CarolinaFY ends Sep 26

Period

FY 2025

Revenue

$5.33B

Net Income

$83.59M

Total Assets

$2.57B

Equity

$1.62B

Shares Out

—

Op. Cash Flow

$154.10M

Business

INGLES MARKETS INC is a regional supermarket chain operating supermarkets in the southeastern United States. It offers a broad range of nationally advertised and private‑label food products (grocery, meat, dairy, produce, frozen and perishables), non‑food merchandise, in‑store pharmacies, fuel centers, and online ordering with store pickup. The Company operates key segments including retail supermarkets, centralized warehouse and distribution facilities, and a milk processing and packaging plant that also sells to other retailers. Its stores are concentrated in North Carolina, Georgia, South Carolina, Tennessee, Virginia and Alabama and are supplied via its nearby distribution network and direct vendor deliveries.

Summary from filing dated 2025-11-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Net sales	5,334	5,640	5,893	5,679	4,988
Cost of goods sold	4,060	4,340	4,488	4,263	3,684
Gross profit	1,274	1,300	1,405	1,416	1,303
Operating and administrative expenses	1,159	1,162	1,115	1,040	963
Gain from sale or disposal of assets	2	9	3	1	10
Income from operations	118	147	292	377	350
Other income, net	12	14	8	6	3
Interest expense	20	22	22	22	24
Income before income taxes	110	140	279	361	328
Income tax expense	26	34	68	89	78
Net income	84	106	211	273	250
Change in fair value of interest rate swap	−2	−9	1	21	9
Income tax benefit (expense)	374,000	2	−267,000	−5	−2
Other comprehensive (loss) income, net of tax	−1	−6	827,080	16	7
Comprehensive (loss) income	82	99	212	289	257

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and cash equivalents	366	354	329	267	70
Receivables (less allowance for doubtful accounts of $512,680 2025 and $474,684 2024)	106	78	108	97	95
Inventories	483	462	494	458	390
Other	20	32	23	16	15
Total current assets	976	926	953	838	575
PROPERTY AND EQUIPMENT, NET	1,515	1,527	1,432	1,374	1,371
OPERATING LEASE RIGHT OF USE ASSETS	25	27	40	39	40
OTHER ASSETS	50	48	50	45	32
TOTAL ASSETS	2,566	2,528	2,474	2,296	2,018
Current portion of long-term debt	17	18	18	18	18
Current portion of operating lease liabilities	5	5	8	8	9
Current portion of finance lease liabilities	716,377	674,759	635,559	—	—
Accounts payable - trade	179	198	204	213	189
Accrued expenses and current portion of other long-term liabilities	101	99	101	95	90
Total current liabilities	303	321	331	334	306
DEFERRED INCOME TAXES	65	64	67	74	73
LONG-TERM DEBT	497	515	533	554	572
NONCURRENT OPERATING LEASE LIABILITIES	22	24	34	33	34
NONCURRENT FINANCE LEASE LIABILITIES	2	2	3	—	—
OTHER LONG-TERM LIABILITIES	62	56	47	41	50
Total liabilities	950	982	1,015	1,036	1,035
Preferred stock, $0.05 par value; 10,000,000 shares authorized; no shares issued or outstanding	—	—	—	—	—
Paid-in capital in excess of par value	—	—	—	—	—
Accumulated other comprehensive income	6	7	13	12	−3
Retained earnings	1,609	1,538	1,445	1,246	986
Total stockholders equity	1,616	1,546	1,459	1,260	983
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	2,566	2,528	2,474	2,296	2,018

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Depreciation and amortization expense	123	122	116	118	117
Non cash operating lease cost	5	6	7	8	8
Inventory and Property loss due to Helene	—	35	—	—	—
Receipt of advance payments on purchases contracts	3	3	4	3	2
Recognition of advance payments on purchase contracts	−2	−3	−3	−3	−3
Deferred income taxes	2	−1	−7	−4	−3
Receivables	−28	29	−10	−2	−14
Inventory	−21	1	−36	−68	−23
Other assets	8	−16	−11	3	−4
Operating lease liabilities	−5	−6	−7	−8	−8
Accounts payable, accrued expenses and other liabilities	−11	−4	5	23	−7
Net Cash Provided By Operating Activities	154	263	266	339	306
Proceeds from sales of property and equipment	5	5	3	3	18
Capital expenditures	−115	−211	−174	−120	−141
Net Cash Used By Investing Activities	−110	−206	−170	−112	−128
Repayment of Financing Lease	−674,759	−635,559	−231,291	—	—
Debt issuance costs	−377,201	—	—	—	−6
Principal payments on long-term borrowings	−18	−18	−22	−18	−328
Dividends paid	−12	−12	−12	−12	−13
Net Cash Used By Financing Activities	−32	−31	−35	−31	−115
Increase in Cash and Cash Equivalents	13	25	61	197	63

Filings

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