Ingredion (INGR) FY2024 results: revenue $7.4 billion, down 8.9% on the year
Ingredion Inc. (INGR) reported revenue of $7.4 billion for fiscal 2024, the year ended 31 December 2024, down 8.9% on the year before. Net income was $647 million, up 0.6%, and diluted earnings per share $9.71. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2025.
Revenue
$7.4 billion
-8.9% on the year
FY2017FY2024
Operating margin
11.9%
11.7% a year earlier
FY2017FY2024
Net income
$647 million
+0.6% on the year
FY2017FY2024
Diluted EPS
$9.71
+1.1% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,436
1,057
152
+35.9%
Capital expenditure
295
314
300
-6.1%
Free cash flow
1,141
743
-148
+53.6%
Free cash flow margin
15.4%
9.1%
-1.9%
Cash from investing
-47.0
-329
-320
Cash from financing
-765
-569
103
Depreciation and amortisation
214
219
215
-2.3%
Share-based compensation
37.0
33.0
29.0
+12.1%
Dividends paid
210
194
181
+8.2%
Diluted shares, weighted
67m
67m
67m
-0.6%
Shares outstanding at period end
64m
65m
66m
-1.1%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
3,804
3,538
3,147
+7.5%
Non-controlling interest
19.0
14.0
16.0
+35.7%
Redeemable equity
60.0
55.0
48.0
+9.1%
Debt
1,831
2,188
2,483
-16.3%
Operating lease liabilities
145
157
146
-7.6%
Other liabilities
1,585
1,690
1,721
-6.2%
Total liabilities and equity
7,444
7,642
7,561
-2.6%
Fixed assets
2,264
2,370
2,407
-4.5%
Goodwill
906
918
900
-1.3%
Intangible assets
358
385
401
-7.0%
Securities held for sale or to maturity
5.0
n/a
n/a
Cash and equivalents
997
401
236
+148.6%
Receivables
1,093
1,279
1,411
-14.5%
Inventory
1,187
1,450
1,597
-18.1%
Other assets
634
839
609
-24.4%
Total assets
7,444
7,642
7,561
-2.6%
10-K for the year ended 31 December 2024, filed 20 February 2025: the filing.