Ingram Micro (INGM) · Q2 2026 results and valuation

At 1.1% growth a year (3-year revenue growth), the model's fair value is $29.18 a share — the stock trades 4% below it. Today's price assumes 0.7% growth a year.

1. Guidance

   Ingram Micro is guiding net sales of $13.55 billion to $13.95 billion, which represents year-over-year growth of more than 9% at the midpoint and nearly 11% at the high…

2. Figure

   Net revenue reached approximately $14.5 billion and gross profit reached $959 million in the second quarter.

   Source quote

   “In the second quarter, we delivered net revenue of approximately $14.5 billion, gross profit dollars of $959 million, and adjusted...”

3. Fading

   While all four regions grew double digits in Q1, this widespread growth shows less emphasis in the current report.

   Source quote

   “dollar basis, all 4 of our regions grew double digits in Q1. So I think yes, we're pretty happy with the fact that on a U.S. So we said you're right, we did see it fairly widespread.”

4. Fading

   Active engagements with the digital assistant rose 50%, with ongoing improvements as the system continues learning.

   Source quote

   “And so we point back to IDA, our intelligent digital assistant and the active engagements we had, that was up 50%... So they're getting better, and they're improving every single day, they continue to learn. What we're doing is we're fine-tuning those opportunities to be more driven around margin.”

Script and answers carried a similar tone, so the script's message held up under questioning.

Sentences that drove the tone

“In terms of operating leverage, our gross profit dollar growth in the double digits, combined with our focus on disciplined execution, operating efficiency, and quality of business, yielded growth in...”

“This quarter, we delivered robust growth, exceeded our financial commitments, expanded profitability, and continue to advance the strategic initiatives that will drive long-term value creation.”

“Gross profit dollars grew faster than revenue, adjusted operating income grew nearly 40% year-over-year, while adjusted EBITDA and earnings again outpaced revenue growth.”