InsiderClue
Stocks · Consumer staples · Grain Mill Products

Ingredion Inc

INGR Clue Score68
United States Fiscal year ends December CIK 0001046257
$95.09 -0.02% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $95.09 −0.55% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue5,704.0Operating income806.0Net income485.0EPS, diluted6.55Fiscal year 2017Revenue6,244.0 +9.5%Operating income836.0Net income519.0 +7.0%EPS, diluted7.06 +7.8%Fiscal year 2018Revenue6,289.0 +0.7%Operating income703.0Net income443.0 −14.6%EPS, diluted6.17 −12.6%Fiscal year 2019Revenue6,209.0 −1.3%Operating income664.0Net income413.0 −6.8%EPS, diluted6.13 −0.6%Fiscal year 2020Revenue5,987.0 −3.6%Operating income582.0Net income348.0 −15.7%EPS, diluted5.15 −16.0%Fiscal year 2021Revenue6,894.0 +15.1%Operating income310.0Net income117.0 −66.4%EPS, diluted1.73 −66.4%Fiscal year 2022Revenue7,946.0 +15.3%Operating income762.0Net income492.0 +320.5%EPS, diluted7.34 +324.3%Fiscal year 2023Revenue8,160.0 +2.7%Operating income957.0Net income643.0 +30.7%EPS, diluted9.60 +30.8%Fiscal year 2024Revenue7,430.0 −8.9%Operating income883.0Net income647.0 +0.6%EPS, diluted9.71 +1.1%Fiscal year 2025Revenue7,219.0 −2.8%Operating income1,016.0Net income729.0 +12.7%EPS, diluted11.18 +15.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 5,704.0 6,244.0 6,289.0 6,209.0 5,987.0 6,894.0 7,946.0 8,160.0 7,430.0 7,219.0
Growth +9.5% +0.7% −1.3% −3.6% +15.1% +15.3% +2.7% −8.9% −2.8%
Operating income 806.0 836.0 703.0 664.0 582.0 310.0 762.0 957.0 883.0 1,016.0
Net income 485.0 519.0 443.0 413.0 348.0 117.0 492.0 643.0 647.0 729.0
Growth +7.0% −14.6% −6.8% −15.7% −66.4% +320.5% +30.7% +0.6% +12.7%
EPS, diluted 6.55 7.06 6.17 6.13 5.15 1.73 7.34 9.60 9.71 11.18
Growth +7.8% −12.6% −0.6% −16.0% −66.4% +324.3% +30.8% +1.1% +15.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin24.6%Operating margin14.1%Net margin8.5%Free cash flow margin8.5%Fiscal year 2017Gross margin23.6%Operating margin13.4%Net margin8.3%Free cash flow margin7.3%Fiscal year 2018Gross margin21.8%Operating margin11.2%Net margin7.0%Free cash flow margin5.6%Fiscal year 2019Gross margin21.1%Operating margin10.7%Net margin6.7%Free cash flow margin5.7%Fiscal year 2020Gross margin21.2%Operating margin9.7%Net margin5.8%Free cash flow margin8.2%Fiscal year 2021Gross margin19.3%Operating margin4.5%Net margin1.7%Free cash flow margin1.3%Fiscal year 2022Gross margin18.8%Operating margin9.6%Net margin6.2%Free cash flow margin−1.9%Fiscal year 2023Gross margin21.4%Operating margin11.7%Net margin7.9%Free cash flow margin9.1%Fiscal year 2024Gross margin24.1%Operating margin11.9%Net margin8.7%Free cash flow margin15.4%Fiscal year 2025Gross margin25.3%Operating margin14.1%Net margin10.1%Free cash flow margin7.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 24.6% 23.6% 21.8% 21.1% 21.2% 19.3% 18.8% 21.4% 24.1% 25.3%
Operating margin 14.1% 13.4% 11.2% 10.7% 9.7% 4.5% 9.6% 11.7% 11.9% 14.1%
Net margin 8.5% 8.3% 7.0% 6.7% 5.8% 1.7% 6.2% 7.9% 8.7% 10.1%
Free cash flow margin 8.5% 7.3% 5.6% 5.7% 8.2% 1.3% −1.9% 9.1% 15.4% 7.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow771.0Capital expenditure−284.0Free cash flow487.0Buybacks−8.0Dividends paid−141.0Fiscal year 2017Operating cash flow769.0Capital expenditure−314.0Free cash flow455.0 −6.6%Buybacks−123.0Dividends paid−165.0Fiscal year 2018Operating cash flow703.0Capital expenditure−350.0Free cash flow353.0 −22.4%Dividends paid−182.0Fiscal year 2019Operating cash flow680.0Capital expenditure−328.0Free cash flow352.0 −0.3%Dividends paid−174.0Fiscal year 2020Operating cash flow829.0Capital expenditure−340.0Free cash flow489.0 +38.9%Dividends paid−178.0Fiscal year 2021Operating cash flow392.0Capital expenditure−300.0Free cash flow92.0 −81.2%Dividends paid−184.0Fiscal year 2022Operating cash flow152.0Capital expenditure−300.0Free cash flow−148.0 −260.9%Dividends paid−181.0Fiscal year 2023Operating cash flow1,057.0Capital expenditure−314.0Free cash flow743.0Dividends paid−194.0Fiscal year 2024Operating cash flow1,436.0Capital expenditure−295.0Free cash flow1,141.0 +53.6%Dividends paid−210.0Fiscal year 2025Operating cash flow944.0Capital expenditure−433.0Free cash flow511.0 −55.2%Dividends paid−211.0
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 771.0 769.0 703.0 680.0 829.0 392.0 152.0 1,057.0 1,436.0 944.0
Capital expenditure −284.0 −314.0 −350.0 −328.0 −340.0 −300.0 −300.0 −314.0 −295.0 −433.0
Free cash flow 487.0 455.0 353.0 352.0 489.0 92.0 −148.0 743.0 1,141.0 511.0
Growth −6.6% −22.4% −0.3% +38.9% −81.2% −260.9% +53.6% −55.2%
Buybacks −8.0 −123.0 n/a n/a n/a n/a n/a n/a n/a n/a
Dividends paid −141.0 −165.0 −182.0 −174.0 −178.0 −184.0 −181.0 −194.0 −210.0 −211.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash512.0Total debt1,850.0Net cash (debt)−1,338.0Shareholders’ equity2,565.0Debt to equity0.72Fiscal year 2017Cash595.0Total debt1,744.0Net cash (debt)−1,149.0Shareholders’ equity2,891.0Debt to equity0.60Fiscal year 2018Cash327.0Total debt1,931.0Net cash (debt)−1,604.0Shareholders’ equity2,388.0Debt to equity0.81Fiscal year 2019Cash264.0Total debt1,766.0Net cash (debt)−1,502.0Shareholders’ equity2,720.0Debt to equity0.65Fiscal year 2020Cash665.0Total debt1,748.0Net cash (debt)−1,083.0Shareholders’ equity2,951.0Debt to equity0.59Fiscal year 2021Cash328.0Total debt1,738.0Net cash (debt)−1,410.0Shareholders’ equity3,100.0Debt to equity0.56Fiscal year 2022Cash236.0Total debt1,940.0Net cash (debt)−1,704.0Shareholders’ equity3,147.0Debt to equity0.62Fiscal year 2023Cash401.0Total debt1,740.0Net cash (debt)−1,339.0Shareholders’ equity3,538.0Debt to equity0.49Fiscal year 2024Cash997.0Total debt1,787.0Net cash (debt)−790.0Shareholders’ equity3,804.0Debt to equity0.47Fiscal year 2025Cash1,030.0Total debt1,742.0Net cash (debt)−712.0Shareholders’ equity4,274.0Debt to equity0.41
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 512.0 595.0 327.0 264.0 665.0 328.0 236.0 401.0 997.0 1,030.0
Total debt 1,850.0 1,744.0 1,931.0 1,766.0 1,748.0 1,738.0 1,940.0 1,740.0 1,787.0 1,742.0
Net cash (debt) −1,338.0 −1,149.0 −1,604.0 −1,502.0 −1,083.0 −1,410.0 −1,704.0 −1,339.0 −790.0 −712.0
Shareholders’ equity 2,565.0 2,891.0 2,388.0 2,720.0 2,951.0 3,100.0 3,147.0 3,538.0 3,804.0 4,274.0
Debt to equity 0.72 0.60 0.81 0.65 0.59 0.56 0.62 0.49 0.47 0.41

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
5,704.0 6,244.0 6,289.0 6,209.0 5,987.0 6,894.0 7,946.0 8,160.0 7,430.0 7,219.0
Growth +9.5% +0.7% −1.3% −3.6% +15.1% +15.3% +2.7% −8.9% −2.8%
4,303.0 4,772.0 4,921.0 4,897.0 4,715.0 5,563.0 6,452.0 6,411.0 5,639.0 5,391.0
1,401.0 1,472.0 1,368.0 1,312.0 1,272.0 1,331.0 1,494.0 1,749.0 1,791.0 1,828.0
Growth +5.1% −7.1% −4.1% −3.0% +4.6% +12.2% +17.1% +2.4% +2.1%
n/a n/a n/a 44.0 43.0 43.0 52.0 63.0 67.0 71.0
579.0 n/a n/a n/a n/a n/a n/a n/a n/a n/a
806.0 836.0 703.0 664.0 582.0 310.0 762.0 957.0 883.0 1,016.0
Growth +3.7% −15.9% −5.5% −12.3% −46.7% +145.8% +25.6% −7.7% +15.1%
742.0 769.0 621.0 582.0 506.0 248.0 668.0 839.0 931.0 974.0
246.0 237.0 167.0 158.0 152.0 123.0 166.0 188.0 277.0 238.0
485.0 519.0 443.0 413.0 348.0 117.0 492.0 643.0 647.0 729.0
Growth +7.0% −14.6% −6.8% −15.7% −66.4% +320.5% +30.7% +0.6% +12.7%
Per share
6.70 7.21 6.25 6.17 5.18 1.74 7.43 9.74 9.88 11.36
6.55 7.06 6.17 6.13 5.15 1.73 7.34 9.60 9.71 11.18
Growth +7.8% −12.6% −0.6% −16.0% −66.4% +324.3% +30.8% +1.1% +15.1%
72.3 72.0 70.9 66.9 67.2 67.1 66.2 66.0 65.5 64.2
74.1 73.5 71.8 67.4 67.6 67.8 67.0 67.0 66.6 65.2
Growth −0.8% −2.3% −6.1% +0.3% +0.3% −1.2% +0.0% −0.6% −2.1%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 3.8% a year over five years, and earnings per share grew 16.8% a year.
  • The diluted share count fell 3.6% in five years, so buybacks did some of the work per share.
  • Operating margin is up 4.4 points on five years ago, at 14.1%.
  • Profitable in every one of the 10 years on file.