Ingredion (INGR) FY2016 results: revenue $5.7 billion, up 1.5% on the year
Ingredion Inc. (INGR) reported revenue of $5.7 billion for fiscal 2016, the year ended 31 December 2016, up 1.5% on the year before. Net income was $485 million, up 20.6%, and diluted earnings per share $6.55. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2019.
Revenue
$5.7 billion
+1.5% on the year
FY2009FY2016
Operating margin
14.1%
11.7% a year earlier
FY2009FY2016
Net income
$485 million
+20.6% on the year
FY2009FY2016
Diluted EPS
$6.55
+18.9% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
5,704
5,621
5,668
+1.5%
Cost of revenue
4,303
4,379
4,553
-1.7%
Gross profit
1,402
1,242
1,115
+12.9%
Gross margin
24.6%
22.1%
19.7%
Selling, general and administrative
579
555
525
+4.3%
Operating income
806
660
581
+22.1%
Operating margin
14.1%
11.7%
10.3%
Pre-tax income
742
599
520
+23.9%
Income tax
246
187
157
+31.6%
Effective tax rate
33.2%
31.2%
30.2%
Net income
485
402
355
+20.6%
Net margin
8.5%
7.2%
6.3%
Diluted EPS
$6.55
$5.51
$4.74
+18.9%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
771
686
731
+12.4%
Capital expenditure
284
280
276
+1.4%
Free cash flow
487
406
455
+20.0%
Free cash flow margin
8.5%
7.2%
8.0%
Cash from investing
-689
-649
n/a
Cash from financing
n/a
-116
n/a
Depreciation and amortisation
196
194
195
+1.0%
Share-based compensation
28.0
21.0
19.0
+33.3%
Buybacks
8.0
41.0
304
-80.5%
Dividends paid
141
126
128
+11.9%
Diluted shares, weighted
74m
73m
75m
+1.5%
Shares outstanding at period end
72m
72m
n/a
+1.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
2,565
2,144
2,177
+19.6%
Non-controlling interest
30.0
36.0
30.0
-16.7%
Redeemable equity
30.0
24.0
22.0
+25.0%
Debt
1,956
1,838
1,830
+6.4%
Other liabilities
1,201
1,032
1,032
+16.4%
Total liabilities and equity
5,782
5,074
5,091
+14.0%
Fixed assets
2,116
1,989
2,073
+6.4%
Goodwill
784
601
478
+30.4%
Intangible assets
502
410
290
+22.4%
Investments
n/a
n/a
5.0
Cash and equivalents
512
434
580
+18.0%
Receivables
923
775
762
+19.1%
Inventory
789
715
699
+10.3%
Other assets
156
150
204
+4.0%
Total assets
5,782
5,074
5,091
+14.0%
10-K for the year ended 31 December 2016, filed 25 February 2019: the filing.