Ingram Micro Holding Corporation (INGM) DCF Valuation & Fundamental Primer
Ingram Micro Holding Corporation (INGM) currently trades at — with an enterprise value of $2.30B. Our proprietary institutional model rates Ingram Micro Holding Corporation at 58/100 (Grade: B · Mixed Fundamental Profile).
Institutional fundamental teardown of Ingram Micro Holding Corporation (INGM) covering SEC 10-K/10-Q cash flow conversion, SBC dilution friction, and Reverse-DCF valuation hurdles.
Ingram Micro Holding Corporation (INGM) 3-Scenario DCF Valuation Range
Stress-test INGM's 5-year growth, target FCF margin, WACC, terminal methodology, and SBC/dilution friction in real time.
Split between 5-Year Explicit Cash Flows and Discounted Terminal Value
2D Institutional Valuation Sensitivity Heatmap
Implied share price & upside/downside spread across 25 valuation states (Current Price: —).
| WACC \ Terminal | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% |
|---|---|---|---|---|---|
| 8.5% | $257.75 N/M | $273.46 N/M | $291.78 N/M | $313.44 N/M | $339.42 N/M |
| 9.3% | $231.91 N/M | $244.28 N/M | $258.49 N/M | $274.97 N/M | $294.31 N/M |
| 10.0% | $210.62 N/M | $220.56 N/M | $231.84 N/M | $244.72 N/M | $259.59 N/M |
| 10.8% | $192.77 N/M | $200.90 N/M | $210.02 N/M | $220.32 N/M | $232.04 N/M |
| 11.5% | $177.60 N/M | $184.34 N/M | $191.84 N/M | $200.21 N/M | $209.63 N/M |
Institutional Software Quality Scorecard (58/100 · Grade B)
Viable recurring software business but carries notable dilution, lower margins, or higher leverage.
Positive FCF but lower conversion efficiency due to capex or timing
Minimal dilution friction; management compensation aligned with shareholders
Sub-par gross margins; higher cost of delivery or hardware/services mix
Moderate leverage or cash burn; monitor liquidity runway
Core Investment Strengths & Moats
- Low dilution friction: SBC is only 0.1% of revenue
Key Operational & Dilution Risks
- Lower software gross margins (7.2%), indicating higher hosting or service delivery drag
Ingram Micro Holding Corporation (INGM) 5-Year Fundamental Forecast
| Statement Line Item | TTM Audited Base | TTM | Y1 | Y2 | Y3 | Y4 | Y5 |
|---|---|---|---|---|---|---|---|
| Revenue | $47.98B | $47.98B | $47.71B | $47.43B | $47.15B | $46.88B | $46.61B |
| Gross Profit | $3.44B | $3.45B | $3.43B | $3.41B | $3.39B | $3.37B | $3.35B |
| Operating Income (EBIT) | $817.9M | $815.7M | $811.0M | $806.3M | $801.6M | $797.0M | $792.3M |
| Stock-Based Compensation (SBC) | $34.1M | $33.6M | $33.4M | $33.2M | $33.0M | $32.8M | $32.6M |
| Unlevered Free Cash Flow (FCF) | $191.1M | $191.9M | $190.8M | $189.7M | $188.6M | $187.5M | $186.4M |
| SBC-Adjusted True Cash Flow | $157.1M | $158.3M | $157.4M | $156.5M | $155.6M | $154.7M | $153.8M |
Software & Cloud Services Peer Comparables & Rule of 40 Regression
Rule of 40 vs. EV / Revenue Multiple Regression
OLS Fit: EV/Rev = -30.2 + 0.82 × (Rule of 40) · R² = 79%Stocks below the gold regression line trade at a discount relative to their Rule of 40 compounding efficiency.
| Company | Ticker | Market Cap | TTM Revenue | Gross Margin | FCF Margin | Rule of 40 | SBC % Rev | EV / Rev |
|---|---|---|---|---|---|---|---|---|
| Ingram Micro Holding Corporation | INGM | — | $47.98B | 7.2% | 0.4% | -0.2% | 0.1% | — |
| ServiceNow | NOW | $152.61B | $10.98B | 79.2% | 31.1% | 54.2% | 15.9% | 13.9× |
| Workday, Inc. | WDAY | $50.35B | $8.00B | 75.0% | 27.4% | 43.9% | 19.0% | 6.4× |
| Salesforce | CRM | $217.10B | $37.90B | 77.2% | 32.8% | 42.8% | 8.4% | 5.8× |
| Datadog | DDOG | $46.05B | $2.68B | 80.8% | 31.1% | 57.7% | 21.3% | 17.4× |
| Snowflake Inc. | SNOW | $71.79B | $3.63B | 66.5% | 25.2% | 57.7% | 40.8% | 20.0× |
| Hubspot | HUBS | $19.89B | $2.63B | 85.0% | 21.3% | 52.7% | 19.2% | 7.7× |
| Peer Cohort Median Benchmark (N=6) | 78.2% | 29.2% | 53.5% | 19.1% | 10.8× | |||
EV / Revenue Multiple Compression Stress Test
| Multiple Scenario | EV / Revenue | Implied Enterprise Value | Implied Equity Value | Implied Share Price | Delta vs Current |
|---|---|---|---|---|---|
| Current Multiple | 0.2× | $8.77B | $5.88B | $25.00 | 0.0% |
| -20% Multiple Compression | 0.1× | $7.02B | $4.12B | $17.53 | -20.0% |
| -35% Multiple Compression | 0.1× | $5.70B | $2.81B | $11.93 | -35.0% |
| Software Baseline Floor (5.0× EV/Rev) | 5.0× | $239.92B | $237.02B | $1,008.29 | +2634.1% |
Frequently Asked Questions: Ingram Micro Holding Corporation (INGM) Valuation
What is Ingram Micro Holding Corporation (INGM)'s intrinsic DCF valuation and implied share price?
Based on audited SEC 10-K/10-Q filings and a 5-year 3-statement discounted cash flow (DCF) model, Ingram Micro Holding Corporation (INGM) has a Base Case implied value of N/A per share (with a Bear Case of N/A and a Bull Case of N/A), compared to its current price of market price. The model discounts projected free cash flows at a 10.0% WACC and a 2.5% terminal growth rate.
What is Ingram Micro Holding Corporation (INGM)'s Rule of 40 score and Free Cash Flow margin?
Ingram Micro Holding Corporation achieves a Rule of 40 score of -0.2%, combining a -0.6% revenue growth run-rate with a 0.4% TTM free cash flow margin on $47.98B in trailing twelve-month revenue. In the Software & Cloud Services peer cohort, the median Rule of 40 benchmark is 53.5%.
What revenue growth rate is priced into INGM stock according to Reverse-DCF analysis?
At market price per share (Enterprise Value of N/A), our Reverse-DCF solver indicates the market is pricing in a 5-year implied revenue CAGR of -0.6%, compared to Ingram Micro Holding Corporation's historical CAGR of -0.6%. Overall market expectations are rated as "Fairly Priced to Fundamentals".
How does Ingram Micro Holding Corporation compare to Software & Cloud Services software peers?
Ingram Micro Holding Corporation (INGM) earns an institutional Software Quality Score of 58/100 (Grade B — Mixed Fundamental Profile). Across its Software & Cloud Services peer group (NOW, WDAY, CRM, DDOG, SNOW), the cohort trades at a median EV/TTM Revenue multiple of 10.8× and a median gross margin of 78.2%.
How does Stock-Based Compensation (SBC) impact Ingram Micro Holding Corporation (INGM)'s valuation?
Ingram Micro Holding Corporation recorded $34.1M in TTM stock-based compensation (0.1% of revenue). When treating SBC as a cash-equivalent compensation expense, Ingram Micro Holding Corporation's SBC-adjusted free cash flow yield is evaluated directly in our 3-statement model, scoring 25/25 on our Shareholder Dilution Friction pillar.