On this page of Benford's Law Stocks.com we present our study of Andersons, Inc. — ticker symbol ANDE. SEC filings have been screened by our Benford's Law software, for quarterly 10Q and annual 10K filings from 2/25/2021 to 11/5/2025 for Andersons, Inc. under CIK number 0000821026. For filings made in XBRL (eXtensible Business Reporting Language) format, our algorithm extracts all "tagged" numbers presented by the company; for any non-XBRL filings our algorithm uses its own interal set of rules to extract what it believes to be numbers as found throughout the filings. The format found for each filing is presented below together with the results for ANDE, with the percentage of found numbers beginning with each digit (1's, 2's, 3's, 4's, 5's, 6's, 7's, 8's, and 9's) charted against the "normal" range observed throughout our coverage universe, as well as the "normal" range for Andersons, Inc. based on the past ANDE filings our system processed in the past.
30.9
16.7
14.3
8.5
8.3
7.0
3.4
6.2
4.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
XBRL?   [ original filing, ANDE stockholder letter ]
Total numbers found: 957
Recent share count: 34,210,458 (3's column)

= Typical range across full coverage universe
Benford's Law Stocks Indicator
957
Normal count compared to other filers, falling within the middle 50%. At this number count, it would take about 10 numbers to move any given column by a full percentage point.
90

Starting from a possible score of 100, we made the following score deductions:
 • We deducted point upon observing the 3's percentage was above the typical coverage universe range.
 • We deducted point upon observing the 7's percentage was below the typical coverage universe range.
 • We deducted points upon observing the 7's percentage was below the company's typical historical range.
 • The 8's percentage was higher than the 7's percentage, increasing the penalty multiplier.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 8's percentage was above the typical coverage universe range.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 8's percentage was above the company's typical historical range.
Benford's Law Stocks Indicator
ANDE
Normal-to-high score compared to other filers, falling within the top of the middle 50%.
WRBY
AAPL
ASUR
CAAS
AAOI
ACLS
ASLE
BLBX
Check our work! We provide our Andersons, Inc. Benford's Law analysis for informational purposes only, and our software should be expected to make mistakes and contain errors (nothing you see on this website should be relied upon for any decision-making without first repeating the analysis yourself independently), and so below we present to you all of the numbers our system detected, for the ANDE filing above. This way, you can open the filing on your own and compare what you see below against what you yourself find. This can also be helpful for exploring any columns in particular that caught your eye.

1's 2's 3's
We found 296 numbers that start with the digit 1. Here they are:
170,872
177,125
172,554
120,494
10,478
13,922
133,507
10,731
16,911
116,596
19,930
116,596
1,091
1,244
1,868
109,107
19,930
16,514
1,286,811
154,449
148,801
122,326
110,045
113,726
1,961,163
141,356
166,614
14,716
1,047,436
194,025
1,330,473
1,731,172
1,177,872
174,417
182,155
144,855
1,865,291
144
142
142
1,000
12
14,131
10,717
12,585
15,376
1,181,108
1,366,186
1,329,170
193,837
1,223,017
1,599,836
1,523,007
116,596
100,058
15,146
16,914
183,183
162,210
127,300
14,700
19,894
19,466
15,366
162,595
1,953
189,789
142
1,520,261
1
190
1
133
132
142
15,376
193,837
1,523,007
144
14,334
1,610,510
188,092
178,014
1
14,182
14,182
195
100
144
14,131
10,717
1,223,017
142
10,261
1,516,387
116,596
11,034
11,034
19,416
19,416
142
15,376
193,837
1,523,007
142
12,585
1,599,836
19,930
188,092
178,014
101
11,748
15,366
15,366
19,935
19,935
1
156
144
14,131
10,717
1,223,017
100
14,203
17,381
13,688
109,528
193,921
141,266
1,286,811
10,199
178,243
187,745
120,097
154,449
165,038
1,441
10,158
176,665
125,639
148,801
1,413
154,042
11,207
169,124
1,916
179,916
122,326
1,697
16,621
13,259
15,423
14,295
1,043
1,394
1,544
1,139
17
1,142
1,299
19,646
10,951
148,932
118,986
1,440
158,550
12,577
14,281
1,218
1,646
12,477
12,616
15.0
100.0
15
137,129
196,980
178,999
139,396
147,190
104,100
1,201,554
1,065,854
133,507
10,731
16,911
17.3
10.5
12.7
17.3
10.5
12.7
13,469
1,091
1,091
13,028
10,350
1,928
1,244
11,784
15,159
11,784
15,159
1,582
1,238
1,239
161
10,717
15,376
10,717
15,376
1.5
18,190
18,190
16,517
19,301
18,190
12,203
14,190
14,190
14,190
15,725
15,725
10,256
15,725
14,190
15,625
100
18,190
15,725
18,190
14,190
15,725
1,988,907
1,876,042
1,861,997
1,756,697
135,891
16,454
152,345
100,360
109,255
1,678
10,789
19,558
17,657
12,032
1,771
13,803
1,466
19,110
10,525
1,971,068
1,953,669
19,491
10,689
113,740
167,626
133,507
19,941
12,096
17,522
11,942
12,168
16,278
1,536
1,896
1,532
100,058
125,068
162,210
1,691
11
12,344
16,535
1,925,074
1,862,383
117,812
107,481
105,234
137,992
1,338,379
1,552,280
12,426
1,896
16,535
1,339
13,922
19,250
1,334
12,932
131,498
11,247
14,099
14,992
113.2
We found 160 numbers that start with the digit 2. Here they are:
2,677,712
2,620,988
2,506,840
2,443,863
21,494
25,843
228
26,071
24,096
20,138
27,365
28,279
2.03
2.01
26,071
222
22,454
24,096
271
24,096
20,201
21,560
26,140
2,850,277
2,331,074
27,727
201,939
227,192
207,543
2,073,942
2,521,478
205,661
2,860
233,650
20,054
278,947
2,541
26,187
27,709
27,054
26,519
20,649
21,181
209,661
27,365
24,096
2,383
2,383
246,101
20,138
26,071
2,757
2,757
205,661
22,865
233,488
257
234
2,860
233,650
28,279
2
205,661
208,619
20,457
28,848
2,712
20,457
20,457
2,657
28
28
219
2,123
2,338
2,409
2,172
2,640
2,578
22,089
21,786
226,718
280,999
2,016
212,181
219,588
22,723
2,098
2.4
2.3
2.4
2.0
2.4
2.9
267,055
295,758
231,917
21.0
24.8
25,843
228
2,805
2,581
24,534
21,571
20,985
2,596
2,098
2,829
228
222
258
258
258
258
25,083
22,186
2,711
29,183
26,496
24,870
29,944
20,281
26,507
20,498
25,967
2,677,712
2,620,988
2,506,840
2,443,863
22,766
25,843
2,075,658
2,087,578
295,187
25,718
20,980
2,158
23,138
23,146
20,753
2,028
2,019,163
2,778,025
2,182,802
263,706
295,325
2,677,712
2,620,988
25,056
20,189
20,189
2,389
20.2
2,868
220,547
21,396
218,989
2.4
25
We found 137 numbers that start with the digit 3. Here they are:
33,839,123
356,466
35,069
38,003
30,651
34,010
34,069
34,102
34,020
34,184
34,358
34,280
34,321
3,212
3,792
3,617
347,273
3,296,959
3,388,298
36,139
34,211
34,083
34,083
385,609
382,009
372
3,296,959
3,388,298
3,498
391,784
33,657
378,453
3,422
3,422
39,920
39,920
3,556
3,614
382,009
384,654
32,111
32,111
366,106
373
387,210
3,545
3,545
3,718
382,009
385,609
3,571
3,571
33,657
33,657
366,106
337
39,025
39,142
383
39,025
39,025
397
3,656
3,560
38,549
3,129
3,365
31
313
3,058
3,371
305,865
3,315
311,609
334,019
389,712
301
3,194
3.3
35.0
3.5
34,181
30,921
3,212
3,792
3,212
3,792
3,672
3,672
3,194
3,102
3,853
3,853
306
3,631
3,631
38,800
38,570
33,131
31,894
38,229
39,142
38,549
37,215
374,392
35,188
320,905
33,268
3,101
36,369
30,853
34,119
32,647
30,408
3,751
37,841
360
36,005
35,626
32,904
38,774
3,029
3,296,959
3,388,298
387,228
366,200
34.8
3,406
3,117
3,492
38,003
30,651
3.1
392,407
35
35
3,000
4's 5's 6's
We found 81 numbers that start with the digit 4. Here they are:
482,160
480,816
452,897
48,209
47,674
48,209
467
45,656
46,341
47,674
47,674
454,065
430,035
402,886
4,121,314
41,909
4,121,314
48,209
42,850
49,327
405,399
433,069
425,000
4,011
480,141
454,065
41,909
47,674
48,209
4,094
403
492
41,909
49.9
425.0
49,341
49,305
47,721
44,251
450
425
49,341
49,341
4,718
428
404
402
41.4
41.4
4.2
43,475
48,280
452
402
4,225
4,203
49
467
4,692
4,692
49,305
47,721
42,330
45,017
4,000
43,487
44,953
49,951
409,580
40,779
42,590
4,151
4,238
4,795
4,191
4,121,314
46.9
45.8
47,963
45,769
45.8
We found 79 numbers that start with the digit 5. Here they are:
59,697
53,891
5,682
51,461
5,933
59
59
51,461
572
5,826
5,805
5,933
5,940
561,771
59,766
569,052
542,564
572
59,376
521
537,977
561,771
51,461
58
572
5,933
51
5,909
57
536
572
5,439
5,439
585
500
50.1
55
55,262
59,766
5,255
5,456
5
59,934
53,020
5,158
568
50.0
50.0
50.0
50.0
50.0
555,303
53,891
5,682
5,826
59
572
59,677
57,220
593
54,814
567.5
5,699,925
53,886
53,891
50,915
51,849
51,427
597,605
513,307
5,920,605
529,592
513,132
5,204
5,204
577
59,697
523,176
58,552
We found 67 numbers that start with the digit 6. Here they are:
62,192
68,922
61,433
67,899
68,618
63,888
608,151
63,000
62,695
6,581
643,854
631
6,472
6,472
6,598
6,598
68,922
62
607,272
648,808
630.8
639.7
6,723
67
68,618
69,924
637
6,761
6,000
6,249
678,385
66,874
66,960
62,192
6,017
6,017
6,367
6,249
684
65
6,226
628.5
635.4
688,805
644,843
687,166
62,192
6,397,021
6,046,832
6,019,451
60,270
610
66,834
6,609
62,025
6,497
680,546
692,189
680,191
662,743
6,483,366
6,497
6,616
65
65
65,388
65
7's 8's 9's
We found 33 numbers that start with the digit 7. Here they are:
7,990,519
7,653,594
7,452
7,489
7
715,761
764,550
756,618
709,951
782,683
774,347
71,989
70
703
708
7,652
75,341
74,600
71,736
7,754
7
7,464
7,452
7,452
71,701
78,915
744,946
705
72,717
7,990,519
7,653,594
7,707
74,528
We found 59 numbers that start with the digit 8. Here they are:
8,472,679
8,134,410
8,361
80
83
80
82
839
81,630
899,278
884,339
88,344
868,151
85,640
8,723
8,101
87,325
81,630
860
860
882,943
87,325
87,325
83,882
80,577
899,278
884,339
8,696
88,105
81,057
85,640
87,774
886
84,798
84,891
83,847
82.8
8
85
810
839
88,105
8,566
8,895
8,251
8,956
8,472,679
8,134,410
85,792
810
8,141
8,472,679
8,134,410
8,141
85.0
85,000
85,000
85,000
8,674.2
We found 45 numbers that start with the digit 9. Here they are:
9,375
9,787
905,761
978,717
970,710
932,215
91,626
93,230
9,219
90,592
911,455
932,215
965,277
9,090
9,141
9
91
978,717
9,627
932,215
970,710
978,717
951,283
944.5
90,051
96
96,847
9,865
9,813
99,162
9,782
99,855
9
9
9,283
9,375
9,787
93
90,051
9,111
96,481
944
91,626
93,230
9,175
While the above ANDE 10Q Filed 11/5/2025 is interesting in isolation, we have found that it is also useful to take a look at older Andersons, Inc. filings processed by our Benford's Law Stocks algorithm, to see how the company's filings "typically look" on a Benford's Law analysis. Below we repeat the 10Q Filed 11/5/2025 but instead of the chart comparing against the typical company across our coverage universe, below we show the same chart compared against the typical ANDE 10Q and 10K filings that we have processed historically. This is followed by similar charts for each of those historical filings.

30.9
16.7
14.3
8.5
8.3
7.0
3.4
6.2
4.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 90
XBRL?   [ original filing ]
Total numbers found: 957

= Typical ANDE range from 2/25/2021 to 11/5/2025
30.2
16.1
14.6
10.0
8.0
7.3
4.3
5.6
3.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 98
XBRL?   [ original filing ]
Total numbers found: 1,531

= Typical ANDE range from 2/25/2021 to 11/5/2025
28.4
15.2
13.9
8.9
7.8
9.4
5.2
6.3
4.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 70
XBRL?   [ original filing ]
Total numbers found: 693

= Typical ANDE range from 2/25/2021 to 11/5/2025
30.5
20.1
13.3
7.9
6.9
6.5
5.8
5.0
4.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 99
XBRL?   [ original filing ]
Total numbers found: 1,094

= Typical ANDE range from 2/25/2021 to 11/5/2025
30.2
18.8
13.7
8.7
7.6
6.4
6.2
4.2
4.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 100
XBRL?   [ original filing ]
Total numbers found: 1,166

= Typical ANDE range from 2/25/2021 to 11/5/2025
29.6
19.3
13.4
8.8
7.7
7.2
5.3
5.1
3.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 100
XBRL?   [ original filing ]
Total numbers found: 1,818

= Typical ANDE range from 2/25/2021 to 11/5/2025
33.6
15.6
11.4
7.7
8.8
6.3
5.1
4.7
6.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 71
XBRL?   [ original filing ]
Total numbers found: 806

= Typical ANDE range from 2/25/2021 to 11/5/2025
28.5
18.7
13.1
9.3
9.1
6.6
5.0
4.9
4.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 100
XBRL?   [ original filing ]
Total numbers found: 967

= Typical ANDE range from 2/25/2021 to 11/5/2025
26.9
18.6
14.2
7.9
8.5
6.9
5.3
7.0
4.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 79
XBRL?   [ original filing ]
Total numbers found: 899

= Typical ANDE range from 2/25/2021 to 11/5/2025
31.3
16.3
15.1
8.3
8.2
7.1
4.6
4.9
4.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 97
XBRL?   [ original filing ]
Total numbers found: 1,487

= Typical ANDE range from 2/25/2021 to 11/5/2025
29.7
14.4
13.8
10.4
9.6
7.0
5.9
4.5
4.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 97
XBRL?   [ original filing ]
Total numbers found: 762

= Typical ANDE range from 2/25/2021 to 11/5/2025
30.2
20.4
12.9
7.7
8.0
7.4
6.2
3.8
3.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 97
XBRL?   [ original filing ]
Total numbers found: 1,174

= Typical ANDE range from 2/25/2021 to 11/5/2025
29.6
19.8
12.7
8.3
6.8
7.6
5.5
6.4
3.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 82
XBRL?   [ original filing ]
Total numbers found: 1,224

= Typical ANDE range from 2/25/2021 to 11/5/2025
30.2
18.0
12.7
9.7
7.6
7.1
5.2
5.1
4.4
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 100
XBRL?   [ original filing ]
Total numbers found: 1,714

= Typical ANDE range from 2/25/2021 to 11/5/2025
28.8
18.3
12.0
9.9
7.6
9.5
3.4
5.3
5.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 74
XBRL?   [ original filing ]
Total numbers found: 698

= Typical ANDE range from 2/25/2021 to 11/5/2025
27.6
19.0
14.0
8.9
8.6
7.8
4.5
5.1
4.4
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 98
XBRL?   [ original filing ]
Total numbers found: 894

= Typical ANDE range from 2/25/2021 to 11/5/2025
29.0
19.1
14.3
8.2
8.3
5.4
5.6
5.2
4.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 92
XBRL?   [ original filing ]
Total numbers found: 1,083

= Typical ANDE range from 2/25/2021 to 11/5/2025
30.8
18.0
14.1
9.0
7.6
7.2
5.9
4.3
3.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 97
XBRL?   [ original filing ]
Total numbers found: 1,598

= Typical ANDE range from 2/25/2021 to 11/5/2025
31.7
16.6
13.2
9.4
7.5
6.7
5.6
3.1
6.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 83
XBRL?   [ original filing ]
Total numbers found: 877

= Typical ANDE range from 2/25/2021 to 11/5/2025
27.9
20.5
13.5
8.2
7.7
6.1
6.2
5.2
4.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 97
XBRL?   [ original filing ]
Total numbers found: 1,095

= Typical ANDE range from 2/25/2021 to 11/5/2025
 

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