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Ingredion Inc Financials

INGR
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Ingredion Inc (INGR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 53 / 100
Financial Profile 53/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
53

Ingredion Inc has an operating margin of 14.1%, meaning the company retains $14 of operating profit per $100 of revenue. This results in a moderate score of 53/100, indicating healthy but not exceptional operating efficiency. This is up from 11.9% the prior year.

Growth
29

Ingredion Inc's revenue declined 2.8% year-over-year, from $7.4B to $7.2B. This contraction results in a growth score of 29/100.

Leverage
94

Ingredion Inc carries a low D/E ratio of 0.41, meaning only $0.41 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
50

Ingredion Inc's current ratio of 2.66 indicates adequate short-term liquidity, earning a score of 50/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
43

Ingredion Inc has a free cash flow margin of 7.1%, earning a moderate score of 43/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
49

Ingredion Inc's ROE of 17.1% shows moderate profitability relative to equity, earning a score of 49/100. This is up from 17.0% the prior year.

Altman Z-Score Safe
3.87

Ingredion Inc scores 3.87, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Strong
8/9

Ingredion Inc passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed
1.29x

For every $1 of reported earnings, Ingredion Inc generates $1.29 in operating cash flow ($944.0M OCF vs $729.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$7.2B
YoY-2.8%
5Y CAGR+3.8%
10Y CAGR+2.5%

Ingredion Inc generated $7.2B in revenue in fiscal year 2025. This represents a decrease of 2.8% from the prior year.

EBITDA
$1.2B
YoY+12.9%
5Y CAGR+9.3%
10Y CAGR+3.8%

Ingredion Inc's EBITDA was $1.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 12.9% from the prior year.

Net Income
$729.0M
YoY+12.7%
5Y CAGR+15.9%
10Y CAGR+6.1%

Ingredion Inc reported $729.0M in net income in fiscal year 2025. This represents an increase of 12.7% from the prior year.

EPS (Diluted)
$11.18
YoY+15.1%
5Y CAGR+16.8%
10Y CAGR+7.3%

Ingredion Inc earned $11.18 per diluted share (EPS) in fiscal year 2025. This represents an increase of 15.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$511.0M
YoY-55.2%
5Y CAGR+0.9%
10Y CAGR+2.3%

Ingredion Inc generated $511.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 55.2% from the prior year.

Cash & Debt
$1.0B
YoY+3.3%
5Y CAGR+9.1%
10Y CAGR+9.0%

Ingredion Inc held $1.0B in cash against $1.7B in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
63M
YoY-1.9%
5Y CAGR-1.2%
10Y CAGR-1.3%

Ingredion Inc had 63M shares outstanding in fiscal year 2025. This represents a decrease of 1.9% from the prior year.

Margins & Returns

Gross Margin
25.3%
YoY+1.2pp
5Y CAGR+4.1pp
10Y CAGR+3.2pp

Ingredion Inc's gross margin was 25.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.2 percentage points from the prior year.

Operating Margin
14.1%
YoY+2.2pp
5Y CAGR+4.3pp
10Y CAGR+2.3pp

Ingredion Inc's operating margin was 14.1% in fiscal year 2025, reflecting core business profitability. This is up 2.2 percentage points from the prior year.

Net Margin
10.1%
YoY+1.4pp
5Y CAGR+4.3pp
10Y CAGR+3.0pp

Ingredion Inc's net profit margin was 10.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.4 percentage points from the prior year.

Return on Equity
17.1%
YoY+0.1pp
5Y CAGR+5.3pp
10Y CAGR-1.7pp

Ingredion Inc's ROE was 17.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.1 percentage points from the prior year.

Capital Allocation

R&D Spending
$71.0M
YoY+6.0%
5Y CAGR+10.5%

Ingredion Inc invested $71.0M in research and development in fiscal year 2025. This represents an increase of 6.0% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$433.0M
YoY+46.8%
5Y CAGR+5.0%
10Y CAGR+4.5%

Ingredion Inc invested $433.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 46.8% from the prior year.

INGR Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $1.8B-3.2% $1.8B-0.9% $1.8B+1.1% $1.8B+0.7% $1.8B-3.7% $1.9B-0.4% $1.9B-0.2% $1.9B
Cost of Revenue N/A $1.4B+0.4% $1.4B+0.7% $1.3B N/A $1.4B-2.9% $1.4B-2.3% $1.5B
Gross Profit $430.0M-5.5% $455.0M-4.6% $477.0M+2.4% $466.0M+3.8% $449.0M-6.3% $479.0M+7.4% $446.0M+7.0% $417.0M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses N/A N/A N/A N/A N/A N/A N/A N/A
Operating Income N/A $249.0M-8.1% $271.0M-1.8% $276.0M N/A $268.0M+11.7% $240.0M+12.7% $213.0M
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax N/A $69.0M+13.1% $61.0M-10.3% $68.0M N/A $84.0M+5.0% $80.0M+37.9% $58.0M
Net Income $165.0M-3.5% $171.0M-12.8% $196.0M-0.5% $197.0M+107.4% $95.0M-49.5% $188.0M+27.0% $148.0M-31.5% $216.0M
EPS (Diluted) $2.56-1.9% $2.61-12.7% $2.99-0.3% $3.00+109.8% $1.43-49.5% $2.83+27.5% $2.22-31.3% $3.23

INGR Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $7.9B+0.8% $7.8B+0.7% $7.8B+4.2% $7.5B+0.3% $7.4B-1.1% $7.5B+4.2% $7.2B-1.3% $7.3B
Current Assets $3.5B-0.3% $3.5B0.0% $3.5B+4.5% $3.4B+0.3% $3.4B+0.1% $3.4B+8.1% $3.1B-0.8% $3.1B
Cash & Equivalents $1.0B+12.6% $915.0M+6.3% $861.0M+2.9% $837.0M-16.0% $997.0M+13.7% $877.0M+73.7% $505.0M+15.3% $438.0M
Inventory $1.2B+0.2% $1.2B+0.2% $1.2B+4.4% $1.2B-1.3% $1.2B-3.8% $1.2B-0.8% $1.2B-7.4% $1.3B
Accounts Receivable $1.2B-9.7% $1.3B-3.5% $1.4B+5.8% $1.3B+17.5% $1.1B-6.8% $1.2B-8.8% $1.3B+0.2% $1.3B
Goodwill $922.0M+0.1% $921.0M N/A N/A $906.0M-2.1% $925.0M+2.0% $907.0M-0.3% $910.0M
Total Liabilities $3.5B+0.6% $3.5B+0.1% $3.5B+2.5% $3.4B-3.8% $3.6B+1.7% $3.5B+1.5% $3.4B-1.5% $3.5B
Current Liabilities $1.3B+3.0% $1.3B+1.1% $1.3B+6.9% $1.2B-7.7% $1.3B+2.1% $1.3B+2.0% $1.2B-4.1% $1.3B
Long-Term Debt $1.7B+0.1% $1.7B0.0% $1.7B-0.1% $1.7B-2.5% $1.8B+2.6% $1.7B0.0% $1.7B+0.1% $1.7B
Total Equity $4.3B+0.8% $4.2B+1.0% $4.2B+5.5% $4.0B+4.5% $3.8B-3.7% $4.0B+6.6% $3.7B-0.5% $3.7B
Retained Earnings $5.6B+2.1% $5.5B+2.2% $5.4B+2.8% $5.2B+2.8% $5.1B+0.9% $5.0B+2.7% $4.9B+2.0% $4.8B

INGR Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $405.0M+46.2% $277.0M+49.7% $185.0M+140.3% $77.0M-82.3% $436.0M-9.0% $479.0M+53.5% $312.0M+49.3% $209.0M
Capital Expenditures $135.0M+28.6% $105.0M+4.0% $101.0M+9.8% $92.0M-26.4% $125.0M+150.0% $50.0M-9.1% $55.0M-15.4% $65.0M
Free Cash Flow $270.0M+57.0% $172.0M+104.8% $84.0M+660.0% -$15.0M-104.8% $311.0M-27.5% $429.0M+66.9% $257.0M+78.5% $144.0M
Investing Cash Flow -$142.0M-63.2% -$87.0M+30.4% -$125.0M-38.9% -$90.0M+28.6% -$126.0M-173.9% -$46.0M+17.9% -$56.0M-130.9% $181.0M
Financing Cash Flow -$151.0M-11.0% -$136.0M-172.0% -$50.0M+67.5% -$154.0M+6.1% -$164.0M-118.7% -$75.0M+58.1% -$179.0M+48.4% -$347.0M
Dividends Paid $54.0M+5.9% $51.0M-5.6% $54.0M+3.8% $52.0M-3.7% $54.0M+3.8% $52.0M-1.9% $53.0M+3.9% $51.0M
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

INGR Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 24.5%-0.6pp 25.1%-1.0pp 26.0%+0.3pp 25.7%+0.8pp 24.9%-0.7pp 25.6%+1.9pp 23.8%+1.6pp 22.2%
Operating Margin N/A 13.7%-1.1pp 14.8%-0.4pp 15.2% N/A 14.3%+1.6pp 12.8%+1.5pp 11.3%
Net Margin 9.4%-0.0pp 9.4%-1.3pp 10.7%-0.2pp 10.9%+5.6pp 5.3%-4.8pp 10.1%+2.2pp 7.9%-3.6pp 11.5%
Return on Equity 3.9%-0.2pp 4.0%-0.6pp 4.7%-0.3pp 5.0%+2.5pp 2.5%-2.3pp 4.8%+0.8pp 4.0%-1.8pp 5.8%
Return on Assets 2.1%-0.1pp 2.2%-0.3pp 2.5%-0.1pp 2.6%+1.4pp 1.3%-1.2pp 2.5%+0.5pp 2.1%-0.9pp 2.9%
Current Ratio 2.66-0.1 2.75-0.0 2.78-0.1 2.85+0.2 2.62-0.1 2.67+0.2 2.52+0.1 2.44
Debt-to-Equity 0.410.0 0.410.0 0.41-0.0 0.44-0.0 0.47+0.0 0.44-0.0 0.470.0 0.47
FCF Margin 15.4%+5.9pp 9.5%+4.9pp 4.6%+5.4pp -0.8%-18.1pp 17.3%-5.7pp 22.9%+9.3pp 13.7%+6.0pp 7.6%

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Frequently Asked Questions

Ingredion Inc (INGR) reported $7.2B in total revenue for fiscal year 2025. This represents a -2.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Ingredion Inc (INGR) revenue declined by 2.8% year-over-year, from $7.4B to $7.2B in fiscal year 2025.

Yes, Ingredion Inc (INGR) reported a net income of $729.0M in fiscal year 2025, with a net profit margin of 10.1%.

Ingredion Inc (INGR) reported diluted earnings per share of $11.18 for fiscal year 2025. This represents a 15.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Ingredion Inc (INGR) had EBITDA of $1.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Ingredion Inc (INGR) had $1.0B in cash and equivalents against $1.7B in long-term debt.

Ingredion Inc (INGR) had a gross margin of 25.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Ingredion Inc (INGR) had an operating margin of 14.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Ingredion Inc (INGR) had a net profit margin of 10.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Ingredion Inc (INGR) has a return on equity of 17.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Ingredion Inc (INGR) generated $511.0M in free cash flow during fiscal year 2025. This represents a -55.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Ingredion Inc (INGR) generated $944.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Ingredion Inc (INGR) had $7.9B in total assets as of fiscal year 2025, including both current and long-term assets.

Ingredion Inc (INGR) invested $433.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Ingredion Inc (INGR) invested $71.0M in research and development during fiscal year 2025.

Ingredion Inc (INGR) had 63M shares outstanding as of fiscal year 2025.

Ingredion Inc (INGR) had a current ratio of 2.66 as of fiscal year 2025, which is generally considered healthy.

Ingredion Inc (INGR) had a debt-to-equity ratio of 0.41 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Ingredion Inc (INGR) had a return on assets of 9.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Ingredion Inc (INGR) has an Altman Z-Score of 3.87, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Ingredion Inc (INGR) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Ingredion Inc (INGR) has an earnings quality ratio of 1.29x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Ingredion Inc (INGR) scores 53 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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