Consumer Defensive · Packaged Foods
Price
$97.50
Market Cap
$6.1B
Employees
11,000
Beta
0.60
Avg Volume
817,474
CEO
James Zallie
Business Description
Ingredion Incorporated, along with its affiliated entities, specializes in the global production and sale of starches and sweeteners, catering to a diverse range of industries. The company's operations are strategically organized into four geographical segments: North America, South America, Asia-Pacific, and Europe, the Middle East, and Africa. Its extensive product portfolio includes a variety of sweetener solutions such as glucose, high maltose, and high fructose corn syrups, as well as caramel colors, dextrose, polyols, maltodextrins, and glucose syrup solids. Beyond sweeteners, Ingredion also provides food-grade and industrial starches, biomaterials, and key nutrition ingredients. The company further offers specific corn-derived products like edible corn oil, and refined corn oil supplied to manufacturers of cooking oils, margarine, salad dressings, shortening, and mayonnaise. It also produces corn gluten feed, a protein source for poultry, pet food, and aquaculture. Additionally, Ingredion processes fruit and vegetable products, delivering concentrates, purees, essences, pulse proteins, and hydrocolloid systems and blends. These ingredients are predominantly extracted from corn, alongside other starch-rich raw materials such as tapioca, potatoes, and rice. Ingredion's primary clientele hails from the food, beverage, brewing, and animal nutrition sectors. Established in 1906, the firm was initially known as Corn Products International, Inc., before officially rebranding to Ingredion Incorporated in June 2012. Its corporate headquarters are situated in Westchester, Illinois.
Business History
Price Overview
Last updated: Jun 27, 2026 10:03am (just now)$97.50
+0.68 (+0.70%)
Day Range
$96.56 – $98.16
52-Week Range
$96.56 – $138.40
50-Day MA
$104.58
200-Day MA
$112.17
Volume
676,494.00
Analyst Price Targets
Low
$114.00
Consensus
$117.00
High
$120.00
(19 analysts)
Share Structure
Outstanding
63,059,061.00
Float
62,612,603.00
Free Float
99.3%
High free float
— 99.3% of shares trade freely, ~0.7% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
9.20
Stock Price: $97.50
EPS (Diluted): 11.36
EPS (Diluted): 11.36
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
1.63
Stock Price: $97.50
Total Equity: $4.34B
Shares: 65,200,000
Total Equity: $4.34B
Shares: 65,200,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
6.07
Market Cap: $6.15B
Total Debt: $1.79B
Cash: $1.03B
EBITDA: $1.23B
Total Debt: $1.79B
Cash: $1.03B
EBITDA: $1.23B
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$7.8B
Market Cap: $6.15B
Total Debt: $1.79B
Cash: $1.03B
Total Debt: $1.79B
Cash: $1.03B
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
25.3%
Gross Profit: $1.83B
Revenue: $7.22B
Revenue: $7.22B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
14.4%
Operating Income: $1.04B
Revenue: $7.22B
Revenue: $7.22B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
10.1%
Net Income: $729.00M
Revenue: $7.22B
Revenue: $7.22B
ROE (Profit from shareholder equity)
APINet Income / Total Equity
15.6%
Net Income: $729.00M
Total Equity: $4.34B
Total Equity: $4.34B
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
10.6%
Operating Income: $1.04B
Tax Rate: 24.4%
Equity: $4.34B
Total Debt: $1.79B
Cash: $1.03B
Tax Rate: 24.4%
Equity: $4.34B
Total Debt: $1.79B
Cash: $1.03B
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
2.66
Current Assets: $3.51B
Current Liabilities: $1.32B
Current Liabilities: $1.32B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.41
Short-Term Debt: $48.00M
Long-Term Debt: $1.74B
Total Debt: $1.79B
Total Equity: $4.34B
Long-Term Debt: $1.74B
Total Debt: $1.79B
Total Equity: $4.34B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$110.72
Revenue: $7.22B
Shares: 65,200,000
Shares: 65,200,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$66.53
Total Equity: $4.34B
Shares: 65,200,000
Shares: 65,200,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$7.84
Operating CF: $944.00M
CapEx: -$433.00M
Shares: 65,200,000
CapEx: -$433.00M
Shares: 65,200,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
3.0%
Last Dividend: N/A
Stock Price: $97.50
Stock Price: $97.50
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $729.00M
Net Income: $729.00M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares INGR against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 7:18pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $6.9B | $7.9B | $8.2B | $7.4B | $7.2B |
| Cost of Revenue | $5.6B | $6.5B | $6.4B | $5.6B | $5.4B |
| Gross Profit | $1.3B | $1.5B | $1.7B | $1.8B | $1.8B |
| Operating Expenses | $1.0B | $732.0M | $792.0M | $908.0M | $791.0M |
| Operating Income | $310.0M | $762.0M | $957.0M | $883.0M | $1.0B |
| Net Income | $117.0M | $492.0M | $643.0M | $647.0M | $729.0M |
| EBITDA | $542.0M | $982.0M | $1.2B | $1.2B | $1.2B |
| EPS | $1.74 | $7.43 | $9.74 | $9.88 | $11.36 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 7:18pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $328.0M | $236.0M | $401.0M | $997.0M | $1.0B |
| Total Current Assets | $2.7B | $3.3B | $3.4B | $3.4B | $3.5B |
| Total Assets | $7.0B | $7.6B | $7.6B | $7.4B | $7.9B |
| Current Liabilities | $1.5B | $1.9B | $1.8B | $1.3B | $1.3B |
| Long-Term Debt | $1.7B | $1.9B | $1.7B | $1.8B | $1.7B |
| Total Liabilities | $3.8B | $4.3B | $4.0B | $3.6B | $3.5B |
| Total Equity | $3.1B | $3.2B | $3.6B | $3.9B | $4.3B |
| Retained Earnings | $3.9B | $4.2B | $4.7B | $5.1B | $5.6B |
Cash Flow (Annual)
Last updated: Jun 21, 2026 7:18pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $392.0M | $152.0M | $1.1B | $1.4B | $944.0M |
| Capital Expenditure | -$300.0M | -$300.0M | -$316.0M | -$301.0M | -$433.0M |
| Free Cash Flow | $92.0M | -$148.0M | $741.0M | $1.1B | $511.0M |
| Acquisitions (net) | -$40.0M | -$29.0M | $0 | $0 | $12.0M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$68.0M | -$112.0M | -$101.0M | -$216.0M | -$224.0M |
| Net Change in Cash | -$337.0M | -$92.0M | $165.0M | $596.0M | $33.0M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 10:06pm (11h ago)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$7.2B $7.1B – $7.4B
|
$7.3B $7.2B – $7.3B
|
$7.5B $7.4B – $7.6B
|
$7.8B $7.7B – $7.8B
|
| EBITDA |
$2.0B $1.9B – $2.0B
|
$2.0B $1.9B – $2.0B
|
$2.0B $2.0B – $2.0B
|
$2.1B $2.1B – $2.1B
|
| Net Income |
$731.0M $717.0M – $745.0M
|
$703.9M $701.0M – $706.8M
|
$750.4M $740.5M – $760.3M
|
$808.3M $800.5M – $816.1M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 7:18pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +15.3% | +2.7% | -8.9% | -2.8% |
| Gross Profit Growth | +12.2% | +17.1% | +2.4% | +2.1% |
| Operating Income Growth | +145.8% | +25.6% | -7.7% | +17.4% |
| Net Income Growth | +320.5% | +30.7% | +0.6% | +12.7% |
| EBITDA Growth | +81.2% | +19.3% | +1.0% | +4.1% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-15 | Seip David Eric | A-Award | 17.21 | $0.00 | $0 |
| 2026-06-15 | Leonard Michael J | A-Award | 33.65 | $0.00 | $0 |
| 2026-05-29 | Seip David Eric | A-Award | 17.22 | $0.00 | $0 |
| 2026-05-29 | Leonard Michael J | A-Award | 33.67 | $0.00 | $0 |
| 2026-05-20 | Wilson Dwayne Andree | A-Award | 1,797.00 | $107.34 | $192,890 |
| 2026-05-20 | Verduin Patricia | A-Award | 1,797.00 | $107.34 | $192,890 |
| 2026-05-20 | Uribe Jorge A. | A-Award | 1,797.00 | $107.34 | $192,890 |
| 2026-05-20 | Tanda Stephan B. | A-Award | 1,797.00 | $107.34 | $192,890 |
| 2026-05-20 | Talbot Siobhan | A-Award | 1,797.00 | $107.34 | $192,890 |
| 2026-05-20 | Suever Catherine A | A-Award | 1,797.00 | $107.34 | $192,890 |
| 2026-05-20 | REICH VICTORIA | A-Award | 1,797.00 | $107.34 | $192,890 |
| 2026-05-20 | Magro Charles V. | A-Award | 1,797.00 | $107.34 | $192,890 |
| 2026-05-20 | Jordan Rhonda L | A-Award | 1,797.00 | $107.34 | $192,890 |
| 2026-05-20 | Fischer David B | A-Award | 1,797.00 | $107.34 | $192,890 |
| 2026-05-15 | Seip David Eric | A-Award | 17.02 | $0.00 | $0 |
| 2026-05-15 | Leonard Michael J | A-Award | 33.29 | $0.00 | $0 |
| 2026-05-02 | Ritchie Robert A. | F-InKind | 842.00 | $110.43 | $92,982 |
| 2026-04-30 | Seip David Eric | A-Award | 15.63 | $0.00 | $0 |
| 2026-04-30 | Leonard Michael J | A-Award | 30.57 | $0.00 | $0 |
| 2026-04-16 | Tanda Stephan B. | G-Gift | 380.00 | $0.00 | $0 |
Dividend History (Last 20)
Last updated: Jun 21, 2026 7:18pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-07-01 | $0.82 | 2026-05-20 | 2026-07-01 | 2026-07-21 |
| 2026-04-01 | $0.82 | 2026-03-18 | 2026-04-01 | 2026-04-21 |
| 2026-01-02 | $0.82 | 2025-12-12 | 2026-01-02 | 2026-01-20 |
| 2025-10-01 | $0.82 | 2025-08-27 | 2025-10-01 | 2025-10-21 |
| 2025-07-01 | $0.80 | 2025-05-22 | 2025-07-01 | 2025-07-22 |
| 2025-04-01 | $0.80 | 2025-03-12 | 2025-04-01 | 2025-04-22 |
| 2025-01-02 | $0.80 | 2024-12-13 | 2025-01-02 | 2025-01-21 |
| 2024-10-01 | $0.80 | 2024-08-27 | 2024-10-01 | 2024-10-22 |
| 2024-07-01 | $0.78 | 2024-05-15 | 2024-07-01 | 2024-07-23 |
| 2024-03-28 | $0.78 | 2024-03-13 | 2024-04-01 | 2024-04-23 |
| 2023-12-29 | $0.78 | 2023-12-12 | 2024-01-02 | 2024-01-23 |
| 2023-09-29 | $0.78 | 2023-08-08 | 2023-10-02 | 2023-10-24 |
| 2023-06-30 | $0.71 | 2023-05-19 | 2023-07-03 | 2023-07-25 |
| 2023-03-31 | $0.71 | 2023-03-15 | 2023-04-03 | 2023-04-25 |
| 2022-12-29 | $0.71 | 2022-12-16 | 2023-01-02 | 2023-01-24 |
| 2022-10-05 | $0.71 | 2022-09-26 | 2022-10-06 | 2022-10-25 |
| 2022-06-30 | $0.65 | 2022-05-20 | 2022-07-01 | 2022-07-26 |
| 2022-03-31 | $0.65 | 2022-03-16 | 2022-04-01 | 2022-04-26 |
| 2021-12-31 | $0.65 | 2021-12-10 | 2022-01-03 | 2022-01-24 |
| 2021-10-01 | $0.65 | 2021-09-22 | 2021-10-04 | 2021-10-25 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for INGR — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30