Ingredion Incorporated

INGR Consumer Defensive Packaged Foods

Ingredion Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $7.2 billion, down 2.84% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS fell 40.8%, free cash flow grew 34.4% and total debt was flat, each against the same quarter a year earlier. Dividend growth for ten consecutive years.

97.93 0.66 +0.68%
Market cap
$6.1B
P/E
10.5×
Fwd P/E
9.5×
Dividend yield
3.36%
F-score
8/9
Altman Z
3.84
Beneish M
−2.53
Dividend safety
89/100

Insider Decisions trades per month

Total sells 5.95
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — 2 — 4 2 — — — — 1 — —
Insider Ownership 2.72%

Capital & Financial Ratios $m

Market Cap 6,130.00
Revenue 7,215.00
Net Income 599.00
Free Cash Flow 482.00
Net Debt 831.00
Current Ratio 2.80 (at or above 1.5: strong)
Debt/Equity 0.39 (at or below 0.5: strong)
P/E ratio 10.53
Fwd P/E 9.54
P/S ratio 0.86
P/B ratio 1.37
Past 5Y EPS Growth 16.77% (at or above 15%: strong)
This Y EPS Growth (5.99%) (below 0%: weak)
Next Y EPS Growth 6.23%
Next Y revenue growth (0.28%) (below 0%: weak)
Next 5Y EPS Growth 1.30%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 5.93%
10-year low 10-year high
P/S against its own 10 years 21.89%
10-year low 10-year high
P/B against its own 10 years 0.96%
10-year low 10-year high
EV/Sales against its own 10 years 1.29%
10-year low 10-year high
EV/FCF against its own 10 years 21.20%
10-year low 10-year high

Dividends

Payout Ratio 0.36
Annual Dividend Rate 3.29
Annual Dividend Yield 3.36%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 3.29
0.82
0.82
0.82
0.83
2025 3.22
0.80
0.80
0.80
0.82
2024 2.36
0.78
0.78
0.80
2023 2.98
0.71
0.71
0.78
0.78
2022 2.72
0.65
0.65
0.71
0.71
2021 2.58
0.64
0.64
0.65
0.65
2020 2.54
0.63
0.63
0.64
0.64
2019 2.51
0.63
0.63
0.63
0.63
2018 2.45
0.60
0.60
0.63
0.63
2017 2.20
0.50
0.50
0.60
0.60
2016 1.90
0.45
0.45
0.50
0.50
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 409 1,008 1,033 952
Receivables 1,279 1,093 1,185 1,386
Inventory 1,450 1,187 1,227 1,109
Other — — — —
3,399 3,355 3,505 3,523
2023 2024 2025 Q'26
Payables 778 604 693 651
ST’ Debt 448 44 48 41
Other — — — —
1,772 1,281 1,316 1,259

Compound Annual Growth %

10y 5y 3y
Sales 2.53% 3.81% (3.15%)
Cash Flow 3.24% 2.63% 83.81%
Earnings 6.13% 15.94% 14.00%
Book Value 7.02% 7.64% 10.74%

Revenue $m

Mar Jun Sep Dec Year
’26 1,792 1,850 — — —
’25 1,813 1,833 1,816 1,757 7,219
’24 1,882 1,878 1,870 1,800 7,430
’23 2,137 2,069 2,033 1,921 8,160
’22 1,892 2,044 2,023 1,987 7,946
’21 1,614 1,762 1,763 1,755 6,894
’20 1,543 1,349 1,502 1,593 5,987
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 33 90 — — —
’25 77 185 277 405 944
’24 209 312 479 436 1,436
’23 (51) 330 368 410 1,057
’22 (52) 48 84 72 152
’21 22 107 130 133 392
’20 65 229 268 267 829
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (77) 129 — — —
’25 (15) 96 160 270 511
’24 144 257 429 311 1,141
’23 (126) 252 290 327 743
’22 (132) (9) 25 (25) (141)
’21 (41) 68 46 37 110
’20 (33) 152 193 184 496
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 2.22 1.78 — — —
’25 3.00 2.99 2.61 2.56 11.18
’24 3.23 2.22 2.83 1.43 9.71
’23 2.85 2.42 2.36 1.97 9.60
’22 1.92 2.12 1.59 1.71 7.34
’21 (3.66) 2.62 1.75 0.99 1.73
’20 1.11 0.98 1.36 1.70 5.15
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 84.57 113.07 87.02 73.00 59.11 73.82 78.81 89.54 106.03 102.31

Analyst estimates 2026–2028

Powerpack
High 140.00 142.64 146.28 99.91 99.51 101.30 101.89 113.46 155.44 141.78
People
People Employees 11,000 11,000 11,000 11,000 12,000 12,000 11,700 11,600 11,200 11,200
Revenue/emp, $m 0.52 0.57 0.57 0.56 0.50 0.57 0.68 0.70 0.66 0.64
Income, $m
Income, $m Revenue 5,704 6,244 6,289 6,209 5,987 6,894 7,946 8,160 7,430 7,219
Gross margin, % 24.56 23.57 21.75 21.13 21.25 19.31 18.80 21.43 24.10 25.32
EBT 742 769 621 582 506 248 668 839 931 974
EBT margin, % 13.01 12.32 9.87 9.37 8.45 3.60 8.41 10.28 12.53 13.49
Net income 496 532 454 424 354 125 502 651 654 736
Depreciation 196 209 247 220 213 220 215 219 214 222
Per share, $
Per share, $ Revenue 78.89 86.72 88.70 92.81 89.09 102.74 120.03 123.64 113.44 112.45
Earnings 6.70 7.21 6.25 6.17 5.18 1.74 7.43 9.74 9.88 11.36
Cash flow 10.66 10.68 9.92 10.16 12.34 5.84 2.30 16.02 21.92 14.70
Capex (3.89) (4.25) (4.92) (4.87) (4.96) (4.20) (4.43) (4.76) (4.50) (6.74)
Free cash flow 6.78 6.43 4.99 5.29 7.38 1.64 (2.13) 11.26 17.42 7.96
Book value 35.89 40.51 33.96 40.97 44.23 46.47 47.78 53.82 58.37 66.90
Shares, m 72 72 71 67 67 67 66 66 66 64
Valuation, ×
Valuation, × P/E 18.83 19.41 14.65 15.04 15.19 55.22 13.13 11.26 13.92 9.72
P/S 1.59 1.61 1.03 1.00 0.88 0.94 0.81 0.89 1.21 0.98
P/B 3.49 3.45 2.69 2.27 1.78 2.08 2.04 2.04 2.36 1.65
EV/Sales 1.84 1.82 1.31 1.26 1.14 1.19 1.09 1.11 1.32 1.09
EV/FCF 21.44 24.49 23.29 22.03 13.73 74.53 (61.64) 12.14 8.62 15.33
Cash, $m
Cash, $m Operating cash flow 771 769 703 680 829 392 152 1,057 1,436 944
Capex (281) (306) (349) (326) (333) (282) (293) (314) (295) (433)
Free cash flow 490 463 354 354 496 110 (141) 743 1,141 511
Balance, $m
Balance, $m Working capital 1,274 1,458 1,192 1,193 1,189 1,185 1,427 1,627 2,074 2,189
Total debt 1,956 1,864 2,100 1,848 2,186 2,046 2,483 2,188 1,831 1,790
Net debt 1,440 1,260 1,766 1,580 1,521 1,714 2,244 1,779 823 757
Shareholders’ equity 2,595 2,917 2,408 2,741 2,972 3,118 3,163 3,552 3,823 4,295
Returns, %
Returns, % ROA 8.94 8.75 7.50 7.02 5.40 1.69 6.76 8.46 8.58 9.50
ROIC 12.48 12.51 10.53 9.60 8.10 4.01 8.81 11.22 11.88 12.57
ROE 20.31 18.83 16.64 16.04 12.18 3.84 15.67 19.15 17.55 17.96
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Ingredion Incorporated vs peers in Packaged Foods (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
HRL Hormel Foods Corporation $11.1B 32.4× 16.1× −2.36% (below 0%: shrinking) −66.67% (below 0%: shrinking) +107.16% (above 0%: growing) 15.92% 2.49% Compare
DAR Darling Ingredients Inc. $9.6B 16.3× 13.8× +16.37% (above 0%: growing) +2,950.00% (above 0%: growing) +428.22% (above 0%: growing) 29.20% 32.20% Compare
LW Lamb Weston $7.5B 28.9× 14.4× +0.66% (above 0%: growing) −54.02% (below 0%: shrinking) −47.29% (below 0%: shrinking) 15.96% 4.92% Compare
SFD Smithfield Foods, Inc. $7.3B 6.9× 10.0× −2.27% (below 0%: shrinking) +27.08% (above 0%: growing) −1.54% (below 0%: shrinking) 12.95% 7.86% Compare
PPC Pilgrim's Pride Corporation $6.9B 12.8× 8.9× −2.76% (below 0%: shrinking) −96.00% (below 0%: shrinking) −67.46% (below 0%: shrinking) 7.34% 1.43% Compare
CAG Conagra Brands $6.8B — (loss-making) 8.2× −1.39% (below 0%: shrinking) +6.97% (above 0%: growing) −464.50% (below 0%: shrinking) 23.83% 10.34% Compare
INGR Ingredion Incorporated $6.1B 10.5× 9.5× +0.93% (above 0%: growing) −40.79% (below 0%: shrinking) +34.38% (above 0%: growing) 23.03% 10.16%
CPB The Campbell's Company $5.9B 14.8× 10.7× −7.93% (below 0%: shrinking) n/m +5.43% (above 0%: growing) 27.28% 0.19% Compare
POST Post Holdings, Inc. $3.4B 13.2× 13.3× −1.83% (below 0%: shrinking) −27.69% (below 0%: shrinking) +69.65% (above 0%: growing) 29.07% 9.72% Compare
Median of peers $7.1B 14.8× 12.0× −2.05% −27.69% +1.95% 19.90% 6.39%

All 71 Packaged Foods stocks →

Ingredion Incorporated (INGR) key facts

  • Concern: Ingredion Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $7.2 billion, down 2.84% from fiscal 2024.
  • Strength: Net income was $736.0 million, or $11.36 per share (basic), a net margin of 10.1%.
  • Ingredion Incorporated (INGR) is a Packaged Foods company in the Consumer Defensive sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, INGR traded at $97.93, a market capitalization of $6.1 billion.
  • At that price the stock trades at 10.5× trailing-twelve-month earnings and 0.9× sales; its P/E is higher than 6% of its own readings over the past ten years.
  • Ingredion Incorporated pays an annual dividend of $3.29 per share, a yield of 3.36%, with a payout ratio of 35.9%.
  • Return on equity was 18.0% and debt-to-equity 0.39.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 3.84 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Ingredion Incorporated (INGR) Latest News

10 May

stockrow.com/INGR · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com