AMCON Distributing Company Common Stock (DIT)

FairStock Score: 21/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Graham would call AMCON an asset play, and the computed Lynch category agrees: ASSET PLAY because it trades at 0.52 times book value. At $61.70 on 2026-10-13, FairStock’s Graham Number is $71.68, implying a 13.92% margin of safety. The sales base is large—FY2025 revenue was $2.8B, FY2024 was $2.7B, and FY2023 was $2.5B—but profit is thin. It distributes cigarettes, tobacco, candy, beverages, groceries, and health foods, a competitive, low-margin trade. In fiscal Q3 2026, the quarter ended 2026-06-30, revenue was $835.3M and net income was $2.7M, or $2.85 diluted EPS. That compares with fiscal Q3 2025 revenue of $739.6M and net income of $1.3M, or $1.42 diluted EPS. However, fiscal Q2 2026 had a net loss of $2.2M, or $-2.34 diluted EPS, and FY2025 net income was only $568,739, or $0.92 diluted EPS, down from FY2024’s $4.3M, or $7.15. So earnings are volatile. FairStock’s ROE of 1.57% and ROCE of 1.82% show weak returns on capital. Debt/equity of 1.74 is high, though Altman Z-Score of 3.12 suggests no immediate distress. The P/E of 31.97 is not cheap on depressed earnings; the P/B of 0.52 is the attraction. Free cash flow is $2.7M TTM, a 4.5% yield. The moat is limited in wholesale distribution. I see asset protection, not a wonderful business.

In plain English: AMCON Distributing Company distributes cigarettes, tobacco, candy, drinks, groceries, and health foods to stores in several U.S. regions. The business is large in sales but earns very little profit, and its yearly earnings have been weak and uneven. The stock looks cheap compared with the accounting value of its net assets, but it does not look clearly cheap compared with its low profits.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q3 2026 10-Q (period ended 2026-06-30) · fiscal Q2 2026 10-Q (period ended 2026-03-31) · fiscal Q1 2026 10-Q (period ended 2025-12-31) · fiscal Q3 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-09-30) · FY2024 10-K (period ended 2024-09-30) · FY2023 10-K (period ended 2023-09-30)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer