Ingram Micro (INGM) 2026 Capital Markets Day Review: New long-term financial outlook for above-market growth and margin expansion

We attended INGM's 2026 Capital Markets Day on Tuesday, September 15th in Dallas, Texas. INGM provided long-term financial targets including 4-6% revenue CAGR 2026-29 and 11-13% net income CAGR. Revenue growth should be driven by above-market growth in Advanced Solutions (9-11% CAGR) and Cloud-based Solutions (33-36% CAGR), more modest, in-line growth in Client and Endpoint Solutions (1-3% CAGR), and an expanding portfolio in Lifecycle Services (10-12% CAGR). The company guided for 2027 revenue growth in the lower single digits %, contemplating a 53 week comp (~2 pt headwind), slowing ASP increases, and slowing PC refreshing demand. Margin expansion should be driven by favorable product/services mix (Cloud-based services should represent 25%+ of gross profit by 2029), automation from Xvantage, and strong cost management, even when accounting for higher SaaS and infrastructure costs. INGM's capital allocation priorities are focused on: (1) maintaining an IG credit profile;