One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
AMCON Distributing Company
DIT · ASE · Consumer Defensive · Food Distribution
Current price
$64.78
52-week range
$59.15 - $95.59
Market cap
—
Balance sheet
Stretched
1.20x Concerning
Net debt $200.49M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
2 Risks
3 rewards · 2 risks
- Reward Revenue grew 3.1% last year.
- Reward Returns 1.6% on equity, ahead of 25% of its peers.
- Risk Net debt grew 44.3% over 3 years.
- Risk Operating margin compressed from 1.1% to 0.7% over 3 years.
What this company does
AMCON Distributing Company
AMCON Distributing Company acts as a middleman, primarily making money by buying everyday products like tobacco, candy, and drinks in bulk and reselling them to convenience stores and gas stations. This wholesale business is a key part of the supply chain (the network of companies that get a product from the factory to the consumer). The company also operates a smaller, separate business running its own chain of health food stores.
How the company got here
AMCON started in the 1980s, growing alongside the modern convenience store industry. Based in Omaha, Nebraska, the company has become a major distributor by acquiring smaller, regional distribution companies. These purchases have allowed AMCON to expand its reach across the Central, Rocky Mountain, and Mid-South regions of the United States. This strategy of buying other companies has been a key part of its growth, making it one of the largest convenience store distributors in the country based on the territory it covers.
What it actually does
Think of AMCON as a giant middleman for convenience stores and other retailers. It buys a huge variety of products in bulk from manufacturers and then distributes them to thousands of stores. These customers include local gas stations, convenience stores, grocery stores, and liquor shops. In addition to its main distribution business, the company also owns and operates a small chain of health food stores.
Wholesale Distribution
This is the company's main business and makes up the vast majority of its sales. This division supplies over 20,000 different products, including well-known brands of cigarettes, candy, drinks, snacks, and groceries, to about 8,500 retail locations. Its customers are places like convenience stores, gas stations, and tobacco shops who pay AMCON for these goods to stock their shelves. A very large portion of this segment's revenue (the total money it brings in) comes from selling cigarettes and other tobacco products.
Retail Health Food
This is a much smaller part of AMCON's overall business. The company operates a handful of specialty grocery stores under names like Chamberlin's Natural Foods and Akin's Natural Foods. Shoppers at these stores pay for natural, organic, and specialty items like produce, nutritional supplements, and personal care products. This segment gives the company a direct-to-consumer business, in contrast to its main wholesale model.
What management is betting on now
The company's leadership is focused on continuing to buy other distribution companies to expand into new areas and serve more customers. They are also heavily investing in their foodservice offerings, which means providing the prepared foods and ingredients that help convenience stores compete with fast-food restaurants. Another priority is developing their own technology to make their operations more efficient and to better serve their retail partners. Management also emphasizes carefully managing its cash and daily operational costs, a concept known as working capital (the money available to meet short-term business obligations).
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$37.37M
FY2025 Q1
$-43.32M
FY2025 Q2
$31.42M
FY2025 Q3
$-8.81M
FY2025 Q4
$30.37M
FY2026 Q1
$-12.37M
FY2026 Q2
$5.05M
FY2026 Q3
$-20.33M
Revenue
—
Net income
$2.69M
Diluted EPS
2.85
Operating cash flow
$-17.91M
Free cash flow
$-20.33M
Fetching…
Sources
Revenue
—
Net income
$-2.17M
Diluted EPS
-2.34
Operating cash flow
$13.70M
Free cash flow
$5.05M
Fetching…
Sources
Revenue
—
Net income
$792.96K
Diluted EPS
1.28
Operating cash flow
$-11.70M
Free cash flow
$-12.37M
Fetching…
Sources
Revenue
—
Net income
$491.73K
Diluted EPS
0.80
Operating cash flow
$31.14M
Free cash flow
$30.37M
Fetching…
Sources
Revenue
—
Net income
$1.32M
Diluted EPS
2.13
Operating cash flow
$-7.02M
Free cash flow
$-8.81M
Fetching…
Sources
Revenue
—
Net income
$-1.59M
Diluted EPS
-2.58
Operating cash flow
$34.42M
Free cash flow
$31.42M
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Sources
Revenue
—
Net income
$348.42K
Diluted EPS
0.57
Operating cash flow
$-39.87M
Free cash flow
$-43.32M
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Sources
Revenue
—
Net income
$1.24M
Diluted EPS
2.02
Operating cash flow
$41.00M
Free cash flow
$37.37M
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Sources
Is it cheap or expensive?
Fair value — vs current price $64.78
We couldn't calculate a fair value right now.
Is it drowning in debt?
Stretched
Net debt $200.5M. Interest coverage 1.2x.
Net debt
$200.49M
Interest coverage
1.20x
AMCON Distributing Company's profit covers its interest bill about 1.2 times over. which is stronger than most peers shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Stretched
Worse cushion
Baseline
Better cushion
DIT
BASELINE
AMCON Distributing Company
Total debt $201.13M Interest coverage 1.20x This is the baseline the peer rows are being compared against.
Total debt $234.06M Interest coverage 0.51x -58% vs DIT Carries about 2.4x less debt cushion than DIT.
Total debt $3.04B Interest coverage 2.44x +103% vs DIT Carries about 2.0x more debt cushion than DIT.
Total debt $7.78B Interest coverage 2.15x +78% vs DIT Carries about 1.8x more debt cushion than DIT.
What you should know
The case for and against DIT
3 Rewards
2 Risks
Rewards
-
Revenue grew 3.1% last year.
-
Returns 1.6% on equity, ahead of 25% of its peers.
-
Free cash flow was positive in 8/10 years.
Risks
-
Net debt grew 44.3% over 3 years.
-
Operating margin compressed from 1.1% to 0.7% over 3 years.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
33.56x
Forward P/E
—
P/B
0.55x
P/S
—
EV/EBITDA
12.30x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
7.8%
Operating margin
0.7%
Net margin
0.1%
ROE
1.6%
ROA
1.8%
Health
Liquidity and balance-sheet strength
Debt / equity
1.74x
Current ratio
2.75x
Quick ratio
0.86x
Total debt
$201.13M
Total cash
$636.64K
Growth
How the business has been compounding
Revenue TTM
$1.43B
Revenue 5Y CAGR
2.1%
EPS TTM
1.93
EPS 5Y CAGR
-68.2%
Cash flow
How much cash the business throws off
Operating CF TTM
$15.24M
Free CF TTM
$9.66M
FCF margin
0.7%
Dividend
Shareholder payout
Yield
0.7%
Payout ratio
24.8%
Last ex-div date
2026-08-07