Ingram Micro Holding Corporation · NYSE:INGM
Ingram Micro — Q4 2025 Earnings Presentation
27 slides from Ingram Micro's earnings presentation, Mar 2, 2026
Slide 1: Ingram Micro Q4 and Full Year 2025 Earnings Supplement
Ingram Micro Q4 and Full Year 2025 Earnings Supplement A Year of Growth and Innovation Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. 1
Slide 2: Important notice
Important notice This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. You can identify forward-loo
Slide 3: Q4 2025 financial highlights
Q4 2025 financial highlights (1) Q4 2025 Y/Y Growth Net Sales ($B) $ 14.9 +11.5% Gross Profit ($M) $ 966 +3.2% Adjusted Income from Operations(2) ($M) $ 350 +14.7% Non-GAAP Net Income(2) ($M) $ 227 +6.4% Non-GAAP Diluted EPS(2) ($) $ 0.96 +4.3% Adjusted Free Cash Flow(2) ($M) $ 1,630 +383.5% Key Tak
Slide 4: Snapshot – Q4 2025
Snapshot – Q4 2025 $14.9B $966M $0.96 (2) Net Sales Gross Profit Non-GAAP Diluted EPS (1) (1) +11.5% y/y +3.2% y/y +$0.01 vs. guidance high end 4.41% 17.1% (2) $1.6B Opex % of Net Sales Adjusted ROIC (2) Adjusted Free Cash Flow (1) (1) (1) 74bps better y/y 460bps better y/y +$1.3B y/y (1) Growth is
Slide 5: Snapshot – full year 2025
Snapshot – full year 2025 $52.6B $3,504M $2.90 (2) Net Sales Gross Profit Non-GAAP Diluted EPS (1) (1) +9.5% y/y +1.7% y/y +$0.11 y/y 5.00% $682M (2) $1.1B Opex % of Net Sales Non-GAAP Net Income (2) Adjusted Free Cash Flow (1) (1) (1) 47bps better y/y +8.6% y/y +$0.7B y/y (1) Growth is on a USD bas
Slide 6: Proprietary platform architecture matters
Proprietary platform architecture matters Custom AI factory propels our Xvantage ecosystem Cloud-based platform Associates Customers Vendors Real-time data processing API/ Microservices Data Visualization AI / ML Powered Intelligent Engines Decoupled data access Flexible, extensible data Real-time D
Slide 7: Intelligent Digital Assistant (IDA)
Intelligent Digital Assistant (IDA) AI-powered sales growth engine in Xvantage IDA prioritizes opportunities for outreach Accelerated sales cycles Associates proactively engage with customers Facilitating growth of Advanced Solutions & Cloud Nearly 3x higher quote to Opportunities convert into sales
Slide 8: Sales Brief Agent
Sales Brief Agent Agentic AI assistant helping to grow high-quality pipeline in Xvantage Analyze Partner • Synthesizes Internal & External Data Insights • Identifies New Customer Opportunities CRM Sales Brief Agent Recommend Database Agentic AI Assistant • Builds Value Propositions Market • Suggests
Slide 9: Xvantage Enable | AI program
Xvantage Enable | AI program 1 ASSESS AI MATURITY AND OPPORTUNITY 2 BUILD FOUNDATIONAL AI SKILLS 3 SCALE WITH VENDOR-SUPPORTED GROWTH TRACKS Prepare & Explore Train Enable Evaluate AI skills, gaps, Sales training Step-by-step vendor and customer demand solution paths Hands-on labs and Map use cases
Slide 10: Tangible impacts across Xvantage
Tangible impacts across Xvantage Double-digit growth Higher revenue and gross Up over 100% +14% QoQ profit per GTM head +30% YoY In self-serve orders, improving On average revenue per In largest countries with productivity and customer experience customer on Xvantage Xvantage rolled out Proprietary
Slide 11: Q4 2025 net sales & gross profit
Q4 2025 net sales & gross profit Q4 Net Sales by geography Q4 Gross Profit ($M) by geography Inner Circle: Q4 2024 Outer circle: Q4 2025 Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. 11
Slide 12: Full year 2025 net sales & gross profit
Full year 2025 net sales & gross profit Full year Net Sales by geography Full year Gross Profit ($M) by geography Inner Circle: Full Year 2024 Outer circle: Full Year 2025 Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. 12
Slide 13: Mix drives profitability: line of business
Mix drives profitability: line of business % Net Sales (FY25) Gross Margin Working Capital Days Labor Mix / Automation Client and Endpoint Low-to-Mid Low labor costs / 64% 22 to 27 days Solutions Single Digits high automation Mid Single Digits to Low Higher technical labor costs Advanced Solutions 3
Slide 14: Q4 2025 growth across key metrics
Q4 2025 growth across key metrics (1) (1) Net Sales ($B) Gross Profit ($M) Adjusted EBITDA ($M) Non-GAAP Net Income ($M) % Y/Y Change % Y/Y Change % Y/Y Change % Y/Y Change +11.5% +3.2% +3.1% +6.4% 14.9 966 936 431 13.3 227 418 213 2024Q4 2025Q4 2024Q4 2025Q4 2024Q4 2025Q4 2024Q4 2025Q4 (1) Refer to
Slide 15: Full year 2025 growth across key metrics
Full year 2025 growth across key metrics (1) (1) Net Sales ($B) Gross Profit ($M) Adjusted EBITDA ($M) Non-GAAP Net Income ($M) % Y/Y Change % Y/Y Change % Y/Y Change % Y/Y Change +9.5% +1.7% +3.0% +8.6% 52.6 3,445 3,504 1,358 682 1,319 48.0 628 2024 2025 2024 2025 2024 2025 2024 2025 (1) Refer to A
Slide 16: Strong balance sheet
Strong balance sheet $3.5B 2.4x 1.0x of available liquidity under Total Debt / Q4 2025 TTM Net Debt / Q4 2025 TTM Revolving Credit Facility Adjusted EBITDA Adjusted EBITDA Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. 16
Slide 17: Capital allocation strategy
Capital allocation strategy Annual FCF Near Term: Initiated dividend, raised Repay debt to maintain net debt each quarter, currently at ~$20M ratio less than 2x Medium to Long Term: Evaluate Strategic investments to fuel growth stock buybacks and M&A to drive and accelerate product roadmap value cre
Slide 18: Q1 2026 guidance
Q1 2026 guidance Q1 FY26 Guidance Ranges (USD millions except EPS) Low High Midpoint Net Revenue 12,450 12,800 12,625 Y/Y Growth 1.4% 4.2% 2.8% Gross Profit 840 895 867 Non-GAAP Diluted EPS $ 0.67 $ 0.75 $ 0.71 Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram M
Slide 19: Appendix
Appendix Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. 19
Slide 20: GAAP to Non-GAAP reconciliations
GAAP to Non-GAAP reconciliations Adjusted Income from Operations Thirteen Weeks Thirteen Weeks Fiscal Year Fiscal Year Ended Ended Ended Ended December 27, December 28, December 27, December 28, ($ in thousands) 2025 2024 2025 2024 Income from operations $ 309,735 $ 248,500 $ 876,928 $ 817,923 Amort
Slide 21: GAAP to Non-GAAP reconciliations
GAAP to Non-GAAP reconciliations Adjusted EBITDA Thirteen Weeks Thirteen Weeks Ended Ended Fiscal Year Ended Fiscal Year Ended December 27, December 28, December 27, December 28, ($ in thousands) 2025 2024 2025 2024 Net income $ 121,410 $ 83,116 $ 327,882 $ 264,222 Interest income (8,938) (13,179) (
Slide 22: GAAP to Non-GAAP reconciliations
GAAP to Non-GAAP reconciliations ROIC Thirteen Weeks Ended Thirteen Weeks Ended Fiscal Year Ended Fiscal Year Ended December 27, December 28, December 27, December 28, ($ in thousands) 2025 2024 2025 2024 Net income $ 121,410 $ 83,116 $ 327,882 $ 264,222 Stockholders' equity 4,248,418 3,733,875 4,24
Slide 23: GAAP to Non-GAAP reconciliations
GAAP to Non-GAAP reconciliations Adjusted ROIC Thirteen Weeks Ended Thirteen Weeks Ended Fiscal Year Ended Fiscal Year Ended December 27, December 28, December 27, December 28, ($ in thousands) 2025 2024 2025 2024 Net income $ 121,410 $ 83,116 $ 327,882 $ 264,222 Pre-tax adjustments: Other expense 8
Slide 24: GAAP to Non-GAAP reconciliations
GAAP to Non-GAAP reconciliations Thirteen Weeks Thirteen Weeks Fiscal Year Fiscal Year Non-GAAP Net Income Ended Ended Ended Ended December 27, December 28, December 27, December 28, ($ in thousands) 2025 2024 2025 2024 Net income $ 121,410 83,116 $ 327,882 264,222 Pre-tax adjustments: Amortization
Slide 25: GAAP to Non-GAAP reconciliations
GAAP to Non-GAAP reconciliations Adjusted Free Cash Flow Thirteen Weeks Thirteen Weeks Fiscal Year Fiscal Year Ended Ended Ended Ended December 27, December 28, December 27, December 28, ($ in thousands) 2025 2024 2025 2024 Net Income $ 121,410 $ 83,116 $ 327,882 $ 264,222 Depreciation and amortizat
Slide 26: GAAP to Non-GAAP reconciliations
GAAP to Non-GAAP reconciliations Thirteen Weeks Thirteen Weeks Fiscal Year Fiscal Year Basic EPS Ended Ended Ended Ended December 27, December 28, December 27, December 28, 2025 2024 2025 2024 Basic EPS - GAAP $ 0.52 $ 0.36 $ 1.40 $ 1.18 Amortization of intangibles 0.09 0.09 0.36 0.39 Restructuring
Slide 27: GAAP to Non-GAAP reconciliations
GAAP to Non-GAAP reconciliations Thirteen Weeks Thirteen Weeks Fiscal Year Fiscal Year Diluted EPS Ended Ended Ended Ended December 27, December 28, December 27, December 28, 2025 2024 2025 2024 Diluted EPS - GAAP (a) $ 0.51 $ 0.36 $ 1.39 $ 1.18 Amortization of intangibles 0.09 0.09 0.36 0.39 Restru