Published on 25 Apr 2024 on Simply Wall St. via Yahoo Finance

Investors in Ingles Markets (NASDAQ:IMKT.A) have seen impressive returns of 184% over the past five...

While Ingles Markets, Incorporated (NASDAQ:IMKT.A) shareholders are probably generally happy, the stock hasn't had particularly good run recently, with the share price falling 14% in the last quarter. But that scarcely detracts from the really solid long term returns generated by the company over five years. Indeed, the share price is up an impressive 168% in that time. We think it's more important to dwell on the long term returns than the short term returns. Of course, that doesn't necessarily mean it's cheap now. While the long term returns are impressive, we do have some sympathy for those who bought more recently, given the 21% drop, in the last year.

With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies.