Ingredion (INGR) FY2015 results: revenue $5.6 billion, down 0.8% on the year
Ingredion Inc. (INGR) reported revenue of $5.6 billion for fiscal 2015, the year ended 31 December 2015, down 0.8% on the year before. Net income was $402 million, up 13.2%, and diluted earnings per share $5.51. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2016.
Revenue
$5.6 billion
-0.8% on the year
FY2008FY2015
Operating margin
11.7%
10.3% a year earlier
FY2008FY2015
Net income
$402 million
+13.2% on the year
FY2008FY2015
Diluted EPS
$5.51
+16.2% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
5,621
5,668
6,328
-0.8%
Cost of revenue
4,379
4,553
5,197
-3.8%
Gross profit
1,242
1,115
1,131
+11.4%
Gross margin
22.1%
19.7%
17.9%
Selling, general and administrative
555
525
534
+5.7%
Operating income
660
581
613
+13.6%
Operating margin
11.7%
10.3%
9.7%
Pre-tax income
599
520
547
+15.2%
Income tax
187
157
144
+19.1%
Effective tax rate
31.2%
30.2%
26.3%
Net income
402
355
396
+13.2%
Net margin
7.2%
6.3%
6.3%
Diluted EPS
$5.51
$4.74
$5.05
+16.2%
$ million except per share. 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.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
686
731
619
-6.2%
Capital expenditure
280
276
298
+1.4%
Free cash flow
406
455
321
-10.8%
Free cash flow margin
7.2%
8.0%
5.1%
Cash from investing
-649
n/a
n/a
Cash from financing
-116
n/a
n/a
Depreciation and amortisation
194
195
194
-0.5%
Share-based compensation
21.0
19.0
17.0
+10.5%
Buybacks
41.0
304
228
-86.5%
Dividends paid
126
128
112
-1.6%
Diluted shares, weighted
73m
75m
78m
-2.5%
Shares outstanding at period end
72m
n/a
n/a
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
2,144
2,177
2,404
-1.5%
Non-controlling interest
36.0
30.0
25.0
+20.0%
Redeemable equity
24.0
22.0
n/a
+9.1%
Short-term borrowings
n/a
n/a
93.0
Debt
1,838
1,830
1,717
+0.4%
Other liabilities
1,032
1,032
1,121
0.0%
Total liabilities and equity
5,074
5,091
5,360
-0.3%
Fixed assets
1,989
2,073
2,156
-4.1%
Goodwill
601
478
535
+25.7%
Intangible assets
410
290
311
+41.4%
Investments
n/a
5.0
11.0
Cash and equivalents
434
580
574
-25.2%
Receivables
775
762
832
+1.7%
Inventory
715
699
723
+2.3%
Other assets
150
204
218
-26.5%
Total assets
5,074
5,091
5,360
-0.3%
10-K for the year ended 31 December 2015, filed 19 February 2016: the filing.