INGM vs TD: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: INGM is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. INGM and TD share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined INGM and TD exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Ingram Micro distributes IT products and services worldwide, connecting technology vendors (such as HP, Dell, Microsoft, Cisco, Apple, and Lenovo) with a global network of resellers, retailers, and managed service providers. Its business spans three lines: Technology Solutions (client, endpoint, and advanced hardware plus software), Cloud (third-party subscriptions and infrastructure-as-a-service), and Other services, across North America, EMEA, Asia-Pacific, and Latin America. The company generates tens of billions in revenue but operates on razor-thin net margins typical of distribution (about 0.8% over the last twelve months), so scale, logistics efficiency, and working-capital management drive the economics.

Full INGM guide

The Toronto-Dominion Bank is one of Canada's largest banks, with roughly $2 trillion in assets and a franchise that spans both sides of the border. It reports in four segments: Canadian personal and commercial banking, US retail banking, wealth management and insurance, and wholesale banking (TD Securities). More than half of its revenue comes from Canada, where it holds leading market share across most banking products, while its US retail bank gives it one of the larger branch networks on the East Coast. TD is also a long-standing dividend payer, and management targets a payout ratio in the 40 to 50 percent range of adjusted earnings, so income is a meaningful part of the total-return case.

Full TD guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• INGM drivers: Cloud and advanced solutions mix shift; Deleveraging and cash generation.
• TD drivers: Dominant Canadian retail franchise; AML remediation and the US asset cap.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Distribution is a structurally thin-margin business, so net income is a small fraction of revenue (operating margin near 1.7%) and is sensitive to price competition, vendor terms, and IT spending cycles. For TD, the central risk is regulatory: the US asset cap limits growth in a key market, and the OCC can require further reductions in US assets each year TD fails to meet its remediation and compliance obligations, so execution on the AML program is critical.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick INGM if you believe its drivers more; TD if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the INGM and TD guides.

INGM. Ingram Micro reported roughly $52.6 billion in 2025 revenue, up about 9.5 percent, and has kept growing in 2026, with Q2 net sales of about $14.5 billion. The trailing P/E of roughly 14.6x, and about 7x forward earnings, sits below the broader electronics-industry average. That gap is the market's discount for thin distribution margins, heavy leverage, and concentrated private-equity ownership; the 13 covering analysts lean buy with a mean target near $32.60. Valuation multiples look modest on earnings but the sub-1 percent net margin means small operational swings move profit meaningfully.

TD. Figures are approximate as of October 16, 2026; verify live numbers before acting. At about 15 times forward earnings and a yield near 2.6%, TD now trades at a fuller multiple than it did in the year after the settlement, after a 53% one-year rally driven by four straight earnings beats and a new C$10 billion buyback. A bank's reported earnings can swing with loan-loss provisions and one-time items, and results are reported in Canadian dollars, so remediation progress, credit quality and currency matter alongside the headline multiple.

Headline figures (approximate, October 2026): INGM shows revenue (ttm) ~$56 billion (Q2 up ~14% YoY), net income (ttm) ~$0.43 billion (EPS ~$1.83), margins (gross / operating / net) ~6.7% / ~1.7% / ~0.8%, market cap ~$6.2 billion (share price ~$26.78); TD shows revenue (ttm) ~$60.8 billion (reported in Canadian dollars), up ~11.5% year over year in the latest quarter, net income (ttm) ~$15.6 billion; profit margin ~27%, operating margin ~38%, latest quarter (fiscal q3, ended jul 31, 2026) Revenue ~$15.3 billion, net income ~$4.5 billion; EPS 2.77 vs ~2.47 expected, p/e (trailing / forward) ~17.9x / ~15.3x.

INGM and TD are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined INGM and TD exposure against your real portfolio. It is not an investment adviser.