Ingredion (INGR) FY2017 results: revenue $6.2 billion, up 9.5% on the year
Ingredion Inc. (INGR) reported revenue of $6.2 billion for fiscal 2017, the year ended 31 December 2017, up 9.5% on the year before. Net income was $519 million, up 7.0%, and diluted earnings per share $7.06. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2019.
Revenue
$6.2 billion
+9.5% on the year
FY2010FY2017
Operating margin
13.4%
14.1% a year earlier
FY2010FY2017
Net income
$519 million
+7.0% on the year
FY2010FY2017
Diluted EPS
$7.06
+7.8% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
6,244
5,704
5,621
+9.5%
Cost of revenue
4,772
4,303
4,379
+10.9%
Gross profit
1,473
1,402
1,242
+5.1%
Gross margin
23.6%
24.6%
22.1%
Selling, general and administrative
n/a
579
555
Operating income
836
806
660
+3.7%
Operating margin
13.4%
14.1%
11.7%
Pre-tax income
769
742
599
+3.6%
Income tax
237
246
187
-3.7%
Effective tax rate
30.8%
33.2%
31.2%
Net income
519
485
402
+7.0%
Net margin
8.3%
8.5%
7.2%
Diluted EPS
$7.06
$6.55
$5.51
+7.8%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
769
771
686
-0.3%
Capital expenditure
314
284
280
+10.6%
Free cash flow
455
487
406
-6.6%
Free cash flow margin
7.3%
8.5%
7.2%
Cash from investing
-326
-689
-649
Cash from financing
-375
n/a
-116
Depreciation and amortisation
209
196
194
+6.6%
Share-based compensation
26.0
28.0
21.0
-7.1%
Buybacks
123
8.0
41.0
+1,437.5%
Dividends paid
165
141
126
+17.0%
Diluted shares, weighted
74m
74m
73m
-0.8%
Shares outstanding at period end
72m
72m
72m
-0.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,891
2,565
2,144
+12.7%
Non-controlling interest
26.0
30.0
36.0
-13.3%
Redeemable equity
36.0
30.0
24.0
+20.0%
Debt
1,864
1,956
1,838
-4.7%
Other liabilities
1,263
1,201
1,032
+5.2%
Total liabilities and equity
6,080
5,782
5,074
+5.2%
Fixed assets
2,217
2,116
1,989
+4.8%
Goodwill
803
784
601
+2.4%
Intangible assets
493
502
410
-1.8%
Cash and equivalents
595
512
434
+16.2%
Receivables
961
923
775
+4.1%
Inventory
823
789
715
+4.3%
Other assets
188
156
150
+20.5%
Total assets
6,080
5,782
5,074
+5.2%
10-K for the year ended 31 December 2017, filed 25 February 2019: the filing.