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Side-by-side financial comparison of Andersons, Inc. (ANDE) and CSW INDUSTRIALS, INC. (CSW). Click either name above to swap in a different company.
Andersons, Inc. is the larger business by last-quarter revenue ($329.5M vs $233.0M, roughly 1.4× CSW INDUSTRIALS, INC.). Andersons, Inc. runs the higher net margin — 20.5% vs 4.4%, a 16.1% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs -2.4%). CSW INDUSTRIALS, INC. produced more free cash flow last quarter ($22.7M vs $-77.1M). Over the past eight quarters, CSW INDUSTRIALS, INC.'s revenue compounded faster (5.1% CAGR vs -1.8%).
The Andersons, Inc. is an American agribusiness established in 1947, that began as Andersons Truck Terminal (ATT) in the 1940s for the grain industry, headquartered in Maumee, Ohio. It is a diversified company rooted in agriculture that conducts business in the commodity merchandising, renewables, and plant nutrient sectors.
ANDE vs CSW — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $329.5M | $233.0M |
| Net Profit | $67.4M | $10.3M |
| Gross Margin | 70.3% | 39.7% |
| Operating Margin | 26.6% | 7.4% |
| Net Margin | 20.5% | 4.4% |
| Revenue YoY | -2.4% | 20.3% |
| Net Profit YoY | 49.6% | -61.9% |
| EPS (diluted) | — | $0.62 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $329.5M | $233.0M | ||
| Q3 25 | $295.8M | $277.0M | ||
| Q2 25 | $535.0M | $263.6M | ||
| Q1 25 | $370.8M | $230.5M | ||
| Q4 24 | $337.5M | $193.6M | ||
| Q3 24 | $231.9M | $227.9M | ||
| Q2 24 | $492.5M | $226.2M | ||
| Q1 24 | $341.4M | $210.9M |
| Q4 25 | $67.4M | $10.3M | ||
| Q3 25 | $20.1M | $40.7M | ||
| Q2 25 | $7.9M | $40.9M | ||
| Q1 25 | $284.0K | $35.1M | ||
| Q4 24 | $45.1M | $26.9M | ||
| Q3 24 | $27.4M | $36.1M | ||
| Q2 24 | $36.0M | $38.6M | ||
| Q1 24 | $5.6M | $31.8M |
| Q4 25 | 70.3% | 39.7% | ||
| Q3 25 | 57.8% | 43.0% | ||
| Q2 25 | 29.6% | 43.8% | ||
| Q1 25 | 41.2% | 44.2% | ||
| Q4 24 | 63.1% | 41.4% | ||
| Q3 24 | 76.4% | 45.6% | ||
| Q2 24 | 35.6% | 47.5% | ||
| Q1 24 | 37.6% | 44.4% |
| Q4 25 | 26.6% | 7.4% | ||
| Q3 25 | 8.7% | 20.5% | ||
| Q2 25 | 4.6% | 20.8% | ||
| Q1 25 | 0.9% | 19.5% | ||
| Q4 24 | 19.9% | 15.3% | ||
| Q3 24 | 26.8% | 22.6% | ||
| Q2 24 | 11.6% | 24.3% | ||
| Q1 24 | 4.1% | 21.0% |
| Q4 25 | 20.5% | 4.4% | ||
| Q3 25 | 6.8% | 14.7% | ||
| Q2 25 | 1.5% | 15.5% | ||
| Q1 25 | 0.1% | 15.2% | ||
| Q4 24 | 13.4% | 13.9% | ||
| Q3 24 | 11.8% | 15.8% | ||
| Q2 24 | 7.3% | 17.1% | ||
| Q1 24 | 1.6% | 15.1% |
| Q4 25 | — | $0.62 | ||
| Q3 25 | $0.59 | $2.41 | ||
| Q2 25 | $0.23 | $2.43 | ||
| Q1 25 | $0.01 | $2.05 | ||
| Q4 24 | $1.31 | $1.60 | ||
| Q3 24 | $0.80 | $2.26 | ||
| Q2 24 | $1.05 | $2.47 | ||
| Q1 24 | $0.16 | $2.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $98.3M | $40.2M |
| Total DebtLower is stronger | $560.0M | — |
| Stockholders' EquityBook value | $1.2B | $1.1B |
| Total Assets | $3.7B | $2.3B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $98.3M | $40.2M | ||
| Q3 25 | — | $31.5M | ||
| Q2 25 | — | $38.0M | ||
| Q1 25 | — | $225.8M | ||
| Q4 24 | $561.8M | $213.8M | ||
| Q3 24 | — | $273.2M | ||
| Q2 24 | — | $18.9M | ||
| Q1 24 | — | $22.2M |
| Q4 25 | $560.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $800.1M | ||
| Q4 24 | $608.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $166.0M |
| Q4 25 | $1.2B | $1.1B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.4B | $1.1B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $1.4B | $1.0B | ||
| Q3 24 | $1.3B | $1.0B | ||
| Q2 24 | $1.3B | $650.2M | ||
| Q1 24 | $1.3B | $615.7M |
| Q4 25 | $3.7B | $2.3B | ||
| Q3 25 | $3.3B | $1.5B | ||
| Q2 25 | $3.4B | $1.5B | ||
| Q1 25 | $3.8B | $1.4B | ||
| Q4 24 | $4.1B | $1.4B | ||
| Q3 24 | $3.4B | $1.4B | ||
| Q2 24 | $3.3B | $1.1B | ||
| Q1 24 | $3.3B | $1.0B |
| Q4 25 | 0.45× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.27× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-6.2M | $28.9M |
| Free Cash FlowOCF − Capex | $-77.1M | $22.7M |
| FCF MarginFCF / Revenue | -23.4% | 9.8% |
| Capex IntensityCapex / Revenue | 21.5% | 2.6% |
| Cash ConversionOCF / Net Profit | -0.09× | 2.81× |
| TTM Free Cash FlowTrailing 4 quarters | $-56.1M | $162.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.2M | $28.9M | ||
| Q3 25 | $233.9M | $61.8M | ||
| Q2 25 | $299.3M | $60.6M | ||
| Q1 25 | $-350.0M | $27.3M | ||
| Q4 24 | $268.8M | $11.6M | ||
| Q3 24 | $-2.1M | $66.8M | ||
| Q2 24 | $304.4M | $62.7M | ||
| Q1 24 | $-239.6M | $22.4M |
| Q4 25 | $-77.1M | $22.7M | ||
| Q3 25 | $167.0M | $58.7M | ||
| Q2 25 | $250.5M | $57.7M | ||
| Q1 25 | $-396.6M | $22.8M | ||
| Q4 24 | $212.9M | $8.5M | ||
| Q3 24 | $-40.0M | $61.3M | ||
| Q2 24 | $275.8M | $59.6M | ||
| Q1 24 | $-266.4M | $17.5M |
| Q4 25 | -23.4% | 9.8% | ||
| Q3 25 | 56.5% | 21.2% | ||
| Q2 25 | 46.8% | 21.9% | ||
| Q1 25 | -106.9% | 9.9% | ||
| Q4 24 | 63.1% | 4.4% | ||
| Q3 24 | -17.2% | 26.9% | ||
| Q2 24 | 56.0% | 26.3% | ||
| Q1 24 | -78.0% | 8.3% |
| Q4 25 | 21.5% | 2.6% | ||
| Q3 25 | 22.6% | 1.1% | ||
| Q2 25 | 9.1% | 1.1% | ||
| Q1 25 | 12.6% | 2.0% | ||
| Q4 24 | 16.6% | 1.6% | ||
| Q3 24 | 16.3% | 2.4% | ||
| Q2 24 | 5.8% | 1.4% | ||
| Q1 24 | 7.8% | 2.3% |
| Q4 25 | -0.09× | 2.81× | ||
| Q3 25 | 11.61× | 1.52× | ||
| Q2 25 | 38.10× | 1.48× | ||
| Q1 25 | -1232.46× | 0.78× | ||
| Q4 24 | 5.96× | 0.43× | ||
| Q3 24 | -0.08× | 1.85× | ||
| Q2 24 | 8.46× | 1.62× | ||
| Q1 24 | -42.94× | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ANDE
| Specialty And Primary Nutrients | $137.1M | 42% |
| Premium Ingredients | $66.1M | 20% |
| Segment Reporting Reconciling Item Other | $63.2M | 19% |
| Other | $63.1M | 19% |
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
