TacticScaleWhat Andersons Does & How It Makes Money (ANDE)
Updated October 2026 · reflects Andersons's latest reported financials
U.S. agriculture company trading grain, making fertilizer, and producing ethanol. It earns margins by merchandising, storing, and shipping grain and other agricultural commodities, and by manufacturing and selling fertilizers and plant nutrients.
How Andersons makes money
It earns margins by merchandising, storing, and shipping grain and other agricultural commodities, and by manufacturing and selling fertilizers and plant nutrients. It also sells ethanol and its co-products and trades biofuels and renewable feedstocks.
What Andersons does
The Andersons, Inc. is an agriculture and renewable fuels company founded in 1947 and based in Maumee, Ohio. It operates in the United States, Canada, Mexico, and other countries through two segments: Agribusiness and Renewables. The Agribusiness segment trades commodities such as corn, wheat, and soybeans, and provides logistics for whole grains, grain products, feed ingredients, domestic fuel products, and other agricultural commodities. It also manufactures, distributes, and sells agricultural fertilizers and plant nutrients. The Renewables segment produces, buys, sells, and trades ethanol and its co-products, and trades other biofuels such as renewable feedstocks. Results in both segments depend on commodity prices and agricultural markets.
Products & services
- Grain merchandising (corn, wheat, soybeans)
- Agricultural fertilizers and plant nutrients
- Commodity logistics for grain, feed ingredients, and domestic fuel products
- Ethanol and ethanol co-products
- Renewable feedstock and biofuel trading
What is Andersons worth?
On an owner-earnings DCF, Andersons's most-likely value is about $156 versus a recent price near $64 (144% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$99) with a margin of safety — so the honest verdict here is “Deeply discounted.” Fair value earns its keep only at the extremes, not in the wide middle.
On the financials alone, $64 is below even the no-growth floor ($99); the market's discount — expectations and sentiment beyond the numbers — is pricing in ≈ -4.9%/yr. A bargain only if that pessimism is overdone.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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