Ingredion (INGR) FY2023 results: revenue $8.2 billion, up 2.7% on the year
Ingredion Inc. (INGR) reported revenue of $8.2 billion for fiscal 2023, the year ended 31 December 2023, up 2.7% on the year before. Net income was $643 million, up 30.7%, and diluted earnings per share $9.60. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2024.
Revenue
$8.2 billion
+2.7% on the year
FY2016FY2023
Operating margin
11.7%
9.6% a year earlier
FY2016FY2023
Net income
$643 million
+30.7% on the year
FY2016FY2023
Diluted EPS
$9.60
+30.8% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,057
152
392
+595.4%
Capital expenditure
314
300
300
+4.7%
Free cash flow
743
-148
92.0
Free cash flow margin
9.1%
-1.9%
1.3%
Cash from investing
-329
-320
-335
Cash from financing
-569
103
-373
Depreciation and amortisation
219
215
220
+1.9%
Share-based compensation
33.0
29.0
23.0
+13.8%
Dividends paid
194
181
184
+7.2%
Diluted shares, weighted
67m
67m
68m
0.0%
Shares outstanding at period end
65m
66m
67m
-0.7%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
3,538
3,147
3,100
+12.4%
Non-controlling interest
14.0
16.0
18.0
-12.5%
Redeemable equity
55.0
48.0
36.0
+14.6%
Debt
2,188
2,483
2,046
-11.9%
Operating lease liabilities
157
146
154
+7.5%
Other liabilities
1,690
1,721
1,645
-1.8%
Total liabilities and equity
7,642
7,561
6,999
+1.1%
Fixed assets
2,370
2,407
2,423
-1.5%
Goodwill
918
900
914
+2.0%
Intangible assets
385
401
434
-4.0%
Cash and equivalents
401
236
328
+69.9%
Receivables
1,279
1,411
1,130
-9.4%
Inventory
1,450
1,597
1,172
-9.2%
Other assets
839
609
598
+37.8%
Total assets
7,642
7,561
6,999
+1.1%
10-K for the year ended 31 December 2023, filed 21 February 2024: the filing.