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AMCON DISTRIBUTING CO
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Last updated Oct 18, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
6.7%Gross margin2
0.4%Operating margin2
0.0%Net margin2
3.9%Revenue growth, 20252
0.5%Return on equity2
0.10×Debt to equity2
$9.7MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Cigarettes brought in 61% of the revenue AMCON DISTRIBUTING CO broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Cigarettes | $1.7B | $1.7B |
| Tobacco | $499.9M | $540.8M |
| Foodservice & other | $324.3M | $330.8M |
| Confectionery | $175.0M | $187.2M |
| Health food | $42.5M | $44.5M |
Business segments
Wholesale brought in 98% of the revenue AMCON DISTRIBUTING CO broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2024 | 2025 |
|---|---|---|
| Wholesale | $2.7B | $2.8B |
| Retail | $42.5M | $44.5M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue93¢$2.6B
- Selling, general and admin6¢$165.8M
- Other costs1¢$20.8M
- Income tax0¢$995.0K
- Profit0¢$568.7K
Out of $2.8B in revenue.2
Where each dollar of operating cash went, fiscal 2025
- Capital spending48¢$9.0M
- Dividends paid3¢$645.5K
- Share buybacks6¢$1.1M
- Kept or used elsewhere42¢$7.9M
Out of $18.7M of cash from operations.2
Financial statements
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-09-30 | 2024-09-30 |
|---|---|---|
| Sales (including excise taxes of $561.9 million and $569.5 million, respectively) | $2.8B | $2.7B |
| Cost of sales | $2.6B | $2.5B |
| Gross profit | $188.2M | $182.4M |
| Selling, general and administrative expenses | $165.8M | $154.9M |
| Depreciation and amortization | $9.8M | $9.5M |
| Total operating expenses | $175.7M | $164.4M |
| Operating income | $12.6M | $18.0M |
| Interest expense | $10.4M | $10.4M |
| Change in fair value of mandatorily redeemable non-controlling interest | $877.4K | $1.0M |
| Other (income), net | -$329.3K | -$936.2K |
| Total other expenses (income) | $11.0M | $10.5M |
| Income from operations before income taxes | $1.6M | $7.5M |
| Income tax expense | $995.0K | $3.1M |
| Net income available to common shareholders | $568.7K | $4.3M |
| Basic earnings per share available to common shareholders | $0.93 | $7.24 |
| Diluted earnings per share available to common shareholders | $0.92 | $7.15 |
| Basic weighted average shares outstanding | 613.2K shares | 599.0K shares |
| Diluted weighted average shares outstanding | 616.5K shares | 606.8K shares |
| Dividends paid per common share | $1.00 | $1.00 |
| Sales, excise taxes | $561.9M | $569.5M |
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-09-30 | 2024-09-30 |
|---|---|---|
| Cash | $744.6K | $672.8K |
| Accounts receivable, less allowance for credit losses of $2.4 million at September 2025 and $2.3 million at September 2024 | $73.2M | $70.7M |
| Inventories, net | $153.3M | $144.3M |
| Income taxes receivable | $141.0K | $718.6K |
| Prepaid expenses and other current assets | $12.2M | $12.8M |
| Total current assets | $239.5M | $229.1M |
| Property and equipment, net | $107.8M | $106.0M |
| Operating lease right-of-use assets, net | $30.5M | $25.5M |
| Goodwill | $5.8M | $5.8M |
| Other intangible assets, net | $4.2M | $4.7M |
| Other assets | $3.2M | $3.0M |
| Total assets | $391.1M | $374.1M |
| Accounts payable | $69.5M | $54.5M |
| Accrued expenses | $15.5M | $15.8M |
| Accrued wages, salaries and bonuses | $6.7M | $9.0M |
| Current operating lease liabilities | $7.9M | $7.0M |
| Current maturities of long-term debt | $5.5M | $5.2M |
| Current mandatorily redeemable non-controlling interest | $7.0M | $1.7M |
| Total current liabilities | $112.1M | $93.2M |
| Credit facilities | $126.8M | $121.3M |
| Deferred income tax liability, net | $4.0M | $4.4M |
| Long-term operating lease liabilities | $22.8M | $18.8M |
| Long-term debt, less current maturities | $11.0M | $16.6M |
| Mandatorily redeemable non-controlling interest, less current portion | $6.5M | |
| Other long-term liabilities | $1.2M | $1.7M |
| Common stock, $.01 par value, 3,000,000 shares authorized, 635,609 shares outstanding at September 2025 and 630,362 shares outstanding at September 2024 | $9.8K | $9.6K |
| Additional paid-in capital | $37.0M | $34.4M |
| Retained earnings | $108.5M | $108.6M |
| Treasury stock at cost | -$32.4M | -$31.3M |
| Total shareholders' equity | $113.1M | $111.7M |
| Total liabilities and shareholders' equity | $391.1M | $374.1M |
| Accounts receivable, allowance for doubtful accounts | $2.4M | $2.3M |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 |
| Preferred stock, shares authorized (in shares) | 1.0M shares | 1.0M shares |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 |
| Common stock, shares authorized (in shares) | 3.0M shares | 3.0M shares |
| Common stock, shares issued (in shares) | 635.6K shares | 630.4K shares |
| Common stock, shares outstanding (in shares) | 635.6K shares | 630.4K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-09-30 | 2024-09-30 |
|---|---|---|
| Net income available to common shareholders | $568.7K | $4.3M |
| Depreciation | $9.3M | $9.0M |
| Amortization | $506.9K | $537.7K |
| (Gain) loss on sales of property and equipment | -$90.2K | -$177.5K |
| Equity-based compensation | $2.6M | $2.5M |
| Deferred income taxes | -$326.2K | -$543.6K |
| Provision for credit losses | $53.5K | -$64.7K |
| Inventory allowance | -$320.3K | $62.3K |
| Change in fair value of contingent consideration | -$1.5M | -$125.0K |
| Change in fair value of mandatorily redeemable non-controlling interest | $877.4K | $1.0M |
| Accounts receivable | -$2.6M | $5.9M |
| Inventories | -$5.7M | $29.0M |
| Prepaid and other current assets | $616.2K | $2.2M |
| Other assets | -$278.8K | -$38.2K |
| Accounts payable | $16.0M | $11.4M |
| Accrued expenses and accrued wages, salaries and bonuses | -$1.9M | $1.2M |
| Other long-term liabilities | $279.0K | $511.2K |
| Income taxes payable and receivable | $577.7K | $1.1M |
| Net cash flows from (used in) operating activities | $18.7M | $67.9M |
| Purchase of property and equipment | -$9.0M | -$20.4M |
| Proceeds from sales of property and equipment | $113.2K | $416.5K |
| Net cash flows from (used in) investing activities | -$15.0M | -$42.1M |
| Borrowings under revolving credit facilities | $2.6B | $2.5B |
| Repayments under revolving credit facilities | -$2.6B | -$2.5B |
| Principal payments on long-term debt | -$5.3M | -$3.8M |
| Repurchase of common stock | -$1.1M | |
| Dividends on common stock | -$645.5K | -$630.4K |
| Redemption and distributions to non-controlling interest | -$2.1M | -$2.3M |
| Net cash flows from (used in) financing activities | -$3.6M | -$25.9M |
| Net change in cash | $71.8K | -$118.1K |
| Cash paid during the period for interest, net of amounts capitalized | $10.5M | $10.0M |
| Cash paid during the period for income taxes, net of refunds | $724.1K | $2.5M |
| Equipment acquisitions classified in accounts payable | $41.4K | $1.0M |
| Purchase of property financed with promissory note | $8.0M | |
| Portion of Burklund acquisition financed with promissory note | $3.9M | |
| Portion of Burklund acquisition financed with contingent consideration | $1.6M | |
| Issuance of common stock in connection with the vesting of equity-based awards | $1.3M |
Recent filings
- Aug 12, 20268-K
- Aug 12, 20268-A12B
- Aug 12, 2026CERT NYSE TEXAS CERTIFICATION
- Aug 5, 20268-K
- Aug 5, 202610-Q
- Apr 20, 20268-K
- Apr 20, 202610-Q
- Feb 10, 20268-K
- Jan 20, 20268-K
- Jan 20, 202610-Q
- Dec 18, 20258-K
- Nov 18, 2025DEF 14A
- Nov 18, 2025ARS
- Nov 7, 20258-K
- Nov 7, 202510-K
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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