Ingredion (INGR) FY2019 results: revenue $6.2 billion, down 1.3% on the year
Ingredion Inc. (INGR) reported revenue of $6.2 billion for fiscal 2019, the year ended 31 December 2019, down 1.3% on the year before. Net income was $413 million, down 6.8%, and diluted earnings per share $6.13. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2020.
Revenue
$6.2 billion
-1.3% on the year
FY2012FY2019
Operating margin
10.7%
11.2% a year earlier
FY2012FY2019
Net income
$413 million
-6.8% on the year
FY2012FY2019
Diluted EPS
$6.13
-0.6% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
6,209
6,289
6,244
-1.3%
Cost of revenue
4,897
4,921
4,772
-0.5%
Gross profit
1,312
1,368
1,473
-4.1%
Gross margin
21.1%
21.8%
23.6%
Research and development
44.0
n/a
n/a
Operating income
664
703
836
-5.5%
Operating margin
10.7%
11.2%
13.4%
Pre-tax income
582
621
769
-6.3%
Income tax
158
167
237
-5.4%
Effective tax rate
27.1%
26.9%
30.8%
Net income
413
443
519
-6.8%
Net margin
6.7%
7.0%
8.3%
Diluted EPS
$6.13
$6.17
$7.06
-0.6%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
680
703
769
-3.3%
Capital expenditure
328
350
314
-6.3%
Free cash flow
352
353
455
-0.3%
Free cash flow margin
5.7%
5.6%
7.3%
Cash from investing
-374
-361
-326
Cash from financing
-364
-589
-375
Depreciation and amortisation
220
247
209
-10.9%
Share-based compensation
18.0
21.0
26.0
-14.3%
Buybacks
n/a
n/a
123
Dividends paid
174
182
165
-4.4%
Diluted shares, weighted
67m
72m
74m
-6.1%
Shares outstanding at period end
67m
67m
72m
+0.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,720
2,388
2,891
+13.9%
Non-controlling interest
21.0
20.0
26.0
+5.0%
Redeemable equity
31.0
37.0
36.0
-16.2%
Debt
1,848
2,100
1,864
-12.0%
Operating lease liabilities
120
n/a
n/a
Other liabilities
1,300
1,183
1,263
+9.9%
Total liabilities and equity
6,040
5,728
6,080
+5.4%
Fixed assets
2,306
2,198
2,217
+4.9%
Goodwill
801
791
803
+1.3%
Intangible assets
437
460
493
-5.0%
Cash and equivalents
264
327
595
-19.3%
Receivables
977
951
961
+2.7%
Inventory
861
824
823
+4.5%
Other assets
394
177
188
+122.6%
Total assets
6,040
5,728
6,080
+5.4%
10-K for the year ended 31 December 2019, filed 19 February 2020: the filing.