Short answer
INGLES MARKETS INC (IMKTA) filed its fiscal 2025 10-K annual report with the SEC on Nov 26, 2025. It reported revenue of $5.3B (−5.4% year over year) and net income of $84M.
- Top risk flagged: Operational risk from Hurricane Helene causing store closures and repair costs impacting fiscal year 2026 results
FY2025 key financial metrics · XBRL
- Revenue
- $5.3B
- −5.4% YoY
- Net income
- $84M
- −20.8% YoY
- Operating margin
- 2.2%
- −0.4 pp YoY
- Gross margin
- 23.9%
- +0.8 pp YoY
- ROE
- 5.2%
- −1.7 pp YoY
- Operating cash flow
- $154M
- −41.3% YoY
Source: XBRL data from the INGLES MARKETS INC (IMKTA) FY2025 10-K on SEC EDGAR. USD.
INGLES MARKETS INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Operates 194 supermarkets in Southeast US with full grocery and non-food offerings, plus owned milk processing plant and distribution center
- Impact of Hurricane Helene: $30.4M inventory and $4.5M property impairments in 2024; 3 stores closed, expected to reopen 2026 or 2027; $9M cleanup costs in 2025
- Strategic emphasis on store modernization and convenience: remodels, expansions, in-store pharmacies, fuel centers, organic/local products, and online curbside pickup at 131 stores
- Fiscal 2025 revenue $5.13B (down 5.4% YoY), operating income $117.6M; store count down 4 stores to 194 due to closures from weather and one permanent closure
- Noteworthy: Expense allocation methodology changed in 2025 to include shopping center rental costs within retail segment, recasted prior years for comparability
Management Discussion & Analysis
- Capital expenditures $114.5M in FY2025 vs $210.9M in FY2024, decrease due to fewer site and land purchases
- Cash from operations $154.1M in FY2025 vs $262.5M in FY2024, decline driven by lower net income and higher inventory
- Cash used in investing activities $109.9M in FY2025 vs $206.2M in FY2024, reflecting decreased capital spend
- Cash used in financing activities $31.6M in FY2025 vs $31.2M in FY2024, stable net financing outflow
- FY2026 capital expenditure guidance $120M to $140M focused on store improvements, technology, and equipment upgrades
Risk Factors
- Operational risk from Hurricane Helene causing store closures and repair costs impacting fiscal year 2026 results
- Geopolitical/macroeconomic risk from volatile petroleum costs increasing utility, distribution, and plastic supply expenses
- Financial risk from long-term debt covenants restricting cash dividend payments and requiring minimum financial ratios
- Market disruption risk from increasing competition by super centers and non-supermarket operators in a consolidating supermarket industry
- Competitive risk from customer shift to online ordering, home delivery, and pre-picked pickup altering traditional supermarket purchase methods
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