Andersons Inc (ANDE) is slightly undervalued and Chefs' Warehouse Inc (CHEF) is overvalued.
Against our estimates of intrinsic value, ANDE trades at the wider discount: a margin of safety of +7%, against -114% for CHEF.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.8% (average of 2 methods) values the shares at $71.94; the price of $66.94 is 7% below that value.
Leak Score 43/100 on 3 of 12 signals
Discounting its cash flows at 10.5% (average of 3 methods) values the shares at $50.69; the price of $108.36 is 114% above that value, and 73% of that value comes from beyond year five.
Leak Score 14/100 on 3 of 12 signals
| Metric | ANDE | CHEF |
|---|---|---|
| Verdict | Slightly undervalued | Overvalued |
| Price | $66.94 | $108.36 |
| Intrinsic value | $71.94 | $50.69 |
| Margin of safety | +7% | -114% |
| Leak Score | 43/100 (3/12) | 14/100 (3/12) |
| Market cap | $2.3B | $4.4B |
| Revenue growth, 5 years | 6.4% | 30.1% |
| Operating margin | 1.2% | 4.1% |
| Net margin | 1.6% | 2.1% |
| Return on equity | 13.2% | 15.3% |
| Debt to equity | 0.68 | 1.46 |
| P/E | 12.9x | 51.5x |
| Forward P/E | 10.5x | 35.2x |
| P/B | 1.7x | 6.8x |
| Dividend yield | 1.2% | — |