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Stock research / United States / INGR · Grain Mill Products · NYSE

Ingredion Inc. (INGR)

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Ingredion Inc. (INGR) reported revenue of $1.9 billion for Q2 FY2026, the quarter ended 30 June 2026, up 0.9% on the same quarter a year earlier. Net income was $114 million, down 41.8% on the year, and diluted earnings per share $1.78. The figures are the company's own, from the 10-Q it filed with the SEC on 7 August 2026.

Revenue$1.9 billionup 0.9%
Net income$114 milliondown 41.8%
Diluted EPS$1.78
QuarterQ2 FY2026ended 30 June 2026

Ingredion (INGR) in brief

Ingredion (INGR) reported revenue of $7.2 billion for fiscal 2025, the year ended 31 December 2025, down 2.8% on the year before.
Read moreNet income was $729 million and diluted earnings per share $11.18. Revenue was $7.4 billion in fiscal 2024, $8.2 billion in fiscal 2023, $7.9 billion in fiscal 2022 and $6.9 billion in fiscal 2021. Net income in the same years was $647 million, $643 million, $492 million and $117 million. Over the twelve months to 30 June 2026, Ingredion reported revenue of $7.2 billion and net income of $592 million. Revenue grew 3.8% a year, compounded, over the five years to fiscal 2025. Ingredion declared $3.28 a share in dividends over the last four quarters and had 63 million shares outstanding at the latest filed count. At 30 June 2026 it carried $1.8 billion of debt and $948 million of cash. At the close of 8 October 2026 the market cap of Ingredion was $6.0 billion, 10.4 times its earnings over the last twelve months.

Ratios

From the filings

ROE13.1%
ROCE13.6%
Operating margin11.9%
Net margin8.2%
FCF margin4.9%
Interest covern/a
Debt to equity0.39
Cash conversion1.36
Share count, 1 year-1.7%
Sales CAGR, 3 years-3.1%
Profit CAGR, 3 years14.0%
EPS, TTM$9.17

At the close of 8 October 2026

Price$95.11
Market cap$6.0 billion
Stock P/E10.37
Price to book1.33
EV / EBITDA6.30
Dividend yield3.4%
Market cap / sales0.83
52-week high$121.64
52-week low$94.25
Price, 1 year-21.8%
Price CAGR, 3 years0.0%
Price CAGR, 5 years0.0%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on the total debt Ingredion Inc. states in its own filing, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
INGRgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on INGR

Filings30 in twelve months: 20 current reports (8-K), about 6 officer or director change; 4 results of operations; 4 regulation fd disclosure; 3 other events; 2 material agreement
Planned insider sales6 Form 144 notices in twelve months, $5.9 million; latest 5 August 2026
Options tapeput/call 0.87 by open interest at the 8 October 2026 close; the straddle prices a 2.5% move to 16 October 2026
13F holders8 of the followed funds hold it; largest FMR LLC; 6 Schedule 13D or 13G filings in twelve months
Insider trading8 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest4.5 million shares short, 7.19 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025Q1 FY2026Q2 FY2026
Revenue2,0331,9211,8821,8781,8701,8001,8131,8331,8161,7571,7921,850
Cost of revenue1,6121,5211,4651,4321,3911,3511,3471,3561,3611,3271,3911,424
Gross profit421400417446479449466477455430401426
Gross margin21%21%22%24%26%25%26%26%25%24%22%23%
Operating income213202213240268162276271249220203188
Operating margin10%11%11%13%14%9%15%15%14%13%11%10%
Pre-tax income185176276230273152267259241207194175
Tax rate14%24%21%35%31%36%25%24%29%19%26%34%
Net income15813121614818895.0197196171165142114
Net margin8%7%11%8%10%5%11%11%9%9%8%6%
Diluted EPS$2.36$1.97$3.23$2.22$2.83$1.43$3.00$2.99$2.61$2.56$2.22$1.78
Operating cash flow36841020931247943677.018527740533.090.0
Capital expenditure79.083.065.055.050.013192.0101105135110100
Free cash flow289327144257429305-15.084.0172270-77.0-10.0
Dividends paid48.051.051.053.052.054.052.054.051.054.052.053.0
Shares outstanding65m65m66m65m65m64m64m64m64m63m63m63m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read moreMoney is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Revenue5,6685,6215,7046,2446,2896,2095,9876,8947,9468,1607,4307,2197,215
Cost of revenue4,5534,3794,3034,7724,9214,8974,7155,5636,4526,4115,6395,3915,503
Gross profit1,1151,2421,4021,4731,3681,3121,2721,3311,4941,7491,7911,8281,712
Gross margin19.7%22.1%24.6%23.6%21.8%21.1%21.2%19.3%18.8%21.4%24.1%25.3%23.7%
Research and developmentn/an/an/an/an/a44.043.043.052.063.067.071.0n/a
Selling, general and administrative525555579n/an/an/an/an/an/an/an/an/an/a
Operating income5816608068367036645823107629578831,016860
Operating margin10.3%11.7%14.1%13.4%11.2%10.7%9.7%4.5%9.6%11.7%11.9%14.1%11.9%
Pre-tax income520599742769621582506248668839931974817
Income tax157187246237167158152123166188277238218
Effective tax rate30.2%31.2%33.2%30.8%26.9%27.1%30.0%49.6%24.9%22.4%29.8%24.4%26.7%
Net income355402485519443413348117492643647729592
Net margin6.3%7.2%8.5%8.3%7.0%6.7%5.8%1.7%6.2%7.9%8.7%10.1%8.2%
Diluted EPS$4.74$5.51$6.55$7.06$6.17$6.13$5.15$1.73$7.34$9.60$9.71$11.18$9.17
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by region

FY2023FY2024FY2025Share
latest year
United States3,0692,8702,81539.0%
Mexico1,5711,5031,39219.3%
Others1,29998698213.6%
Brazil6695845727.9%
Canada5485274956.9%
Germany4133853845.3%
CO3323103244.5%
Thailand2592652553.5%
United StatesMexicoOthersBrazilCanadaGermanyCOThailand
8,160FY20237,430FY20247,219FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014 †FY2015FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Operating cash flow7316867717697036808293921521,0571,436944805
Capital expenditure276280284314350328340300300314295433450
Free cash flow45540648745535335248992.0-1487431,141511355
Free cash flow margin8.0%7.2%8.5%7.3%5.6%5.7%8.2%1.3%-1.9%9.1%15.4%7.1%4.9%
Cash from investingn/a-649-689-326-361-374-571-335-320-329-47.0-444-331
Cash from financingn/a-116n/a-375-589-364143-373103-569-765-491-388
Depreciation and amortisation195194196209247220213220215219214222224
Share-based compensation19.021.028.026.021.018.023.023.029.033.037.040.034.0
Buybacks30441.08.0123n/an/an/an/an/an/an/an/an/a
Dividends paid128126141165182174178184181194210211210
Dividend per sharen/an/an/an/an/an/an/an/an/an/an/an/a$3.28
Diluted shares, weighted75m73m74m74m72m67m68m68m67m67m67m65m64m
Shares outstanding at period endn/a72m72m72m67m67m67m67m66m65m64mn/a63m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Funded by
Shareholders' equity2,1772,1442,5652,8912,3882,7202,9513,1003,1473,5383,8044,2744,524
Non-controlling interest30.036.030.026.020.021.021.018.016.014.019.021.0n/a
Redeemable equity22.024.030.036.037.031.030.036.048.055.060.064.049.0
Short-term borrowingsn/a19.0n/an/an/an/an/an/an/an/an/an/an/a
Debt1,8301,8191,9561,8642,1001,8482,1862,0462,4832,1881,8311,7901,783
Operating lease liabilitiesn/an/an/an/an/a120136154146157145118n/a
Other liabilities1,0321,0321,2011,2631,1831,3001,5341,6451,7211,6901,5851,6301,714
Total liabilities and equity5,0915,0745,7826,0805,7286,0406,8586,9997,5617,6427,4447,8978,070
Owned
Fixed assets2,0731,9892,1162,2172,1982,3062,4552,4232,4072,3702,2642,5262,521
Goodwill478601784803791801902914900918906922917
Intangible assets290410502493460437444434401385358347337
Investments5.0n/an/an/an/an/an/an/an/an/an/an/an/a
Securities held for sale or to maturityn/an/an/an/an/an/an/an/an/an/a5.06.028.0
Cash and equivalents5804345125953272646653282364019971,030948
Receivables7627759239619519771,0111,1301,4111,2791,0931,1851,386
Inventory6997157898238248619171,1721,5971,4501,1871,2271,109
Other assets204150156188177394464598609839634654824
Total assets5,0915,0745,7826,0805,7286,0406,8586,9997,5617,6427,4447,8978,070
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded2.5%3.8%-3.1%-1.4%
Profit growth, compounded6.1%15.9%14.0%-12.4%
Return on equity, average15.4%14.3%17.4%17.1%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Food Products

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Kraft Heinz Co. KHC$26.7 billionn/a-9.4%-12.8%-1.6%0.497.1%
Bunge Global SA BG$20.9 billion20.946.3%n/a80.5%0.956.6%
Tyson Foods, Inc. TSN$18.6 billion32.313.2%2.3%2.9%0.36n/a
General Mills Inc. GIS$17.4 billionn/a-12.0%-1.1%-4.5%1.667.5%
J.M. Smucker Co. SJM$12.8 billion55.804.0%9.0%5.1%1.143.7%
Mccormick & Co. Inc. MKC$12.4 billion8.3121.3%13.4%13.2%0.534.0%
Hormel Foods Corp. HRL$10.7 billion30.834.4%4.7%0.7%0.306.0%
Darling Ingredients Inc. DAR$9.8 billion16.7811.4%14.5%14.9%0.73n/a
Pilgrims Pride Corp. PPC$6.8 billion12.3914.6%5.0%1.4%0.76n/a
Ingredion Inc. INGR$6.0 billion10.3713.1%11.9%-1.4%0.393.4%
Post Holdings, Inc. POST$3.3 billion13.659.5%9.6%6.2%2.484.0%
Marzetti Co. MZTI$2.7 billion14.4118.2%12.4%1.1%0.193.9%
All 15 in Food Products
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Mondelez International, Inc. MDLZ$77.9 billion22.3113.2%11.2%6.9%0.623.2%
Archer-Daniels-Midland Co. ADM$39.7 billion22.597.5%n/a-0.8%0.272.5%
Hershey Co. HSY$33.0 billion22.2032.6%17.8%7.7%1.14n/a
Kraft Heinz Co. KHC$26.7 billionn/a-9.4%-12.8%-1.6%0.497.1%
Bunge Global SA BG$20.9 billion20.946.3%n/a80.5%0.956.6%
Tyson Foods, Inc. TSN$18.6 billion32.313.2%2.3%2.9%0.36n/a
General Mills Inc. GIS$17.4 billionn/a-12.0%-1.1%-4.5%1.667.5%
J.M. Smucker Co. SJM$12.8 billion55.804.0%9.0%5.1%1.143.7%
Mccormick & Co. Inc. MKC$12.4 billion8.3121.3%13.4%13.2%0.534.0%
Hormel Foods Corp. HRL$10.7 billion30.834.4%4.7%0.7%0.306.0%
Darling Ingredients Inc. DAR$9.8 billion16.7811.4%14.5%14.9%0.73n/a
Pilgrims Pride Corp. PPC$6.8 billion12.3914.6%5.0%1.4%0.76n/a
Ingredion Inc. INGR$6.0 billion10.3713.1%11.9%-1.4%0.393.4%
Post Holdings, Inc. POST$3.3 billion13.659.5%9.6%6.2%2.484.0%
Marzetti Co. MZTI$2.7 billion14.4118.2%12.4%1.1%0.193.9%
2 companies share its SEC industry code (Grain Mill Products); the rest are the names nearest in size in its wider industry, Food Products, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20267 August 2026EDGAR
10-Q31 March 20268 May 2026EDGAR
10-K31 December 202517 February 2026EDGAR
10-Q30 September 20257 November 2025EDGAR
10-Q30 June 202511 August 2025EDGAR
10-Q31 March 20259 May 2025EDGAR
10-K31 December 202420 February 2025EDGAR
10-Q30 September 20248 November 2024EDGAR
10-Q30 June 20248 August 2024EDGAR
10-Q31 March 20249 May 2024EDGAR

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