Ingredion (INGR) FY2018 results: revenue $6.3 billion, up 0.7% on the year
Ingredion Inc. (INGR) reported revenue of $6.3 billion for fiscal 2018, the year ended 31 December 2018, up 0.7% on the year before. Net income was $443 million, down 14.6%, and diluted earnings per share $6.17. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2019.
Revenue
$6.3 billion
+0.7% on the year
FY2011FY2018
Operating margin
11.2%
13.4% a year earlier
FY2011FY2018
Net income
$443 million
-14.6% on the year
FY2011FY2018
Diluted EPS
$6.17
-12.6% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
6,289
6,244
5,704
+0.7%
Cost of revenue
4,921
4,772
4,303
+3.1%
Gross profit
1,368
1,473
1,402
-7.1%
Gross margin
21.8%
23.6%
24.6%
Selling, general and administrative
n/a
n/a
579
Operating income
703
836
806
-15.9%
Operating margin
11.2%
13.4%
14.1%
Pre-tax income
621
769
742
-19.2%
Income tax
167
237
246
-29.5%
Effective tax rate
26.9%
30.8%
33.2%
Net income
443
519
485
-14.6%
Net margin
7.0%
8.3%
8.5%
Diluted EPS
$6.17
$7.06
$6.55
-12.6%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
703
769
771
-8.6%
Capital expenditure
350
314
284
+11.5%
Free cash flow
353
455
487
-22.4%
Free cash flow margin
5.6%
7.3%
8.5%
Cash from investing
-361
-326
-689
Cash from financing
-589
-375
n/a
Depreciation and amortisation
247
209
196
+18.2%
Share-based compensation
21.0
26.0
28.0
-19.2%
Buybacks
n/a
123
8.0
Dividends paid
182
165
141
+10.3%
Diluted shares, weighted
72m
74m
74m
-2.3%
Shares outstanding at period end
67m
72m
72m
-7.6%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,388
2,891
2,565
-17.4%
Non-controlling interest
20.0
26.0
30.0
-23.1%
Redeemable equity
37.0
36.0
30.0
+2.8%
Debt
2,100
1,864
1,956
+12.7%
Other liabilities
1,183
1,263
1,201
-6.3%
Total liabilities and equity
5,728
6,080
5,782
-5.8%
Fixed assets
2,198
2,217
2,116
-0.9%
Goodwill
791
803
784
-1.5%
Intangible assets
460
493
502
-6.7%
Cash and equivalents
327
595
512
-45.0%
Receivables
951
961
923
-1.0%
Inventory
824
823
789
+0.1%
Other assets
177
188
156
-5.9%
Total assets
5,728
6,080
5,782
-5.8%
10-K for the year ended 31 December 2018, filed 25 February 2019: the filing.