Ingredion Incorporated

Ingredion Incorporated

INGRยทNYSE

$100.90

-0.84%
Consumer DefensivePackaged Foods

Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. It operates through four segments: North America; South America; Asia-Pacific; and Europe, Middle East and Africa. The company offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, and glucose syrup solids, as well as food-grade and industrial starches, biomaterials, and nutrition ingredients. It also provides edible corn oil; refined corn oil to packers of cooking oil and to producers of margarine, salad dressings, shortening, mayonnaise, and other foods; and corn gluten feed used as protein feed for chickens, pet food, and aquaculture, as well as fruit and vegetable products, such as concentrates, purees and essences, pulse proteins, and hydrocolloids systems and blends. The company's products are derived primarily from processing corn and other starch-based materials, such as tapioca, potato, and rice. It serves food, beverage, brewing, and animal nutrition industries. The company was formerly known as Corn Products International, Inc. and changed its name to Ingredion Incorporated in June 2012. Ingredion Incorporated was founded in 1906 and is headquartered in Westchester, Illinois.

At a Glance

Live Snapshot
Market Cap$6.36B
EPS11.3600
P/E Ratio8.88
Earnings Date08/07/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

High confidence

Valuation multiple is compressed (P/E 8.9).

Valuation inputs: P/E 8.9, earnings yield +11.3%, momentum -0.8%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is acceptable (ROE +16.8%, ROIC +11.6%).

Profitability stack: net margin +10.1%, ROE +16.8%, ROIC +11.6%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Risk profile is balanced but has notable pressure points to monitor.

Risk factors: liabilities/assets +44.7%, momentum -0.8%, net margin +10.1%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

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Ingredion Incorporated Market vs Earnings Trajectory

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Ingredion Incorporated

Ingredion Incorporated Fair Value Envelope

INGR ยท NYSE

Our analysis suggests that INGR has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $100.9, this represents a potential HIDDEN relative to our calculated worth for Ingredion Incorporated.

Intrinsic Value
Current Price: $100.9
3Y+53.0%
5Y+119.0%
10Y+70.0%
3Y-9.0%
5Y+21.0%
10Y+20.0%
3Y+48.0%
5Y+109.0%
10Y+50.0%
3Y+521.0%
5Y+14.0%
10Y+22.0%
3Y-445.0%
5Y+4.0%
10Y+5.0%
3Y+4.0%
5Y+15.0%
10Y+37.0%
Ingredion Incorporated

Ingredion Incorporated Profit Bridge

INGR ยท NYSE
Revenue7.22B
Cost of Goods Sold (5.39B)
Gross Profit1.83B
Operating Expenses (815.00M)
Operating Income1.01B
Interest Expense (37.00M)
Other Income/Expense-39.00M
Pretax Income974.00M
Income Tax (238.00M)
Net Income729.00M
Net Income
729.00M

Profitability Analysis

Gross Margin

25.3%

Moderate margins typical of competitive industries. Monitor for pricing pressure or rising costs.

Operating Margin

14.0%

Acceptable margins but limited operational leverage. Operating expense control is important.

Net Profit Margin

10.1%

Strong net margins indicate efficient operations and favorable tax/interest management.

Effective Tax Rate

24.4%

Moderate tax rate typical for most corporations. Represents standard tax burden on profits.

Profitability Insight

Efficient profit conversion: Minimal margin compression from gross to net indicates lean operations and favorable tax/interest environment.

25.32%
Gross Profit Margin
5%
3Y+35.0%
5Y+19.0%
10Y+9.0%
14.03%
Operating Profit Margin
18%
3Y+46.0%
5Y+44.0%
10Y+5.0%
10.10%
Net Profit Margin
16%
3Y+63.0%
5Y+74.0%
10Y+25.0%
16.80%
Return on Equity
3Y+9.0%
5Y+44.0%
10Y-11.0%
9.23%
Return on Assets
6%
3Y+42.0%
5Y+82.0%
10Y+10.0%
11.55%
Return on Invested Capital
17%
3Y+26.0%
5Y+67.0%
10Y+5.0%
INGR

Ingredion Incorporated Cash Conversion Engine

INGR ยท NYSE
Net Income729.00M
Depreciation & Amortization222.00M
Stock-Based Compensation0.00
Change in Working Capital-140.00M
Others127.00M
Capital Expenditures-433.00M
Free Cash Flow511.00M

Cash Flow Quality Analysis

FCF Conversion Rate

70.1%

Moderate conversion rate. Some gap between earnings and cash flow may warrant investigation into working capital or non-cash items.

CapEx Intensity

45.9%

Capital-intensive operations require significant reinvestment. Monitor whether CapEx is maintenance or growth-oriented.

FCF Growth Trend

-55.0%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

-$140.00M

Moderate working capital outflow. Typical for growing businesses, but ensure it's supporting revenue growth, not inefficiency.

Cash Flow Quality Insight

Solid cash generation: Positive free cash flow with reasonable earnings quality provides financial flexibility for growth investments, debt reduction, or shareholder returns.

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Ingredion Incorporated Funding & Solvency Profile

INGR ยท NYSE
Cash & Cash Equivalents914.00M
Net Receivables1.36B
Inventory1.18B
Other Current Assets66.00M
Total Current Assets4 B
Property, Plant & Equipment2.56B
Goodwill & Intangible Assets1.26B
Long-Term Investments0.00
Other Non-Current Assets583.00M
Total Non-Current Assets3 B
Total Assets
7.93B

Financial Health Analysis

Current Ratio

2.76x

Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.

Debt-to-Equity Ratio

0.78x

Balanced capital structure with moderate leverage. Equity exceeds debt, suggesting healthy financial stability.

Working Capital

2 B

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

44% Current

Balanced asset mix between current and non-current assets, typical of many stable businesses.

Financial Health Insight

Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.

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Ingredion Incorporated Street Expectations Map

INGR ยท NYSE

Wall Street analysts project that INGR stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 117.00, with estimates ranging from a low of 114.00 to a high of 120.00.

Lowest Target
114.00
12.98%
Consensus Target
117.00
15.96%
Highest Target
120.00
18.93%

The consensus 1-year price target stands at 117.00, with estimates ranging from a low of 114.00 to a high of 120.00.

Analyst Consensus Analysis

Upside Potential

+16.0%

Strong upside potential. Consensus indicates attractive return opportunity with favorable risk-reward profile.

Analyst Agreement

5.1% spread

High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.

Analyst Conviction

Very High

Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.

Market Sentiment Insight

Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.

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Ingredion Incorporated Insider Positioning

INGR ยท NYSE

During the last 12 months, insiders have sold $10.48M worth of INGR shares, with no buying activity reported.

3 Months

Bought

0

0.00

Sold

375

42.16K

Net Activity

-42K

-$42K

3-6 Months

Bought

0

0.00

Sold

48.3K

5.74M

Net Activity

-5.7M

-$5.74M

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

0

0.00

Sold

37.1K

4.70M

Net Activity

-4.7M

-$4.70M

Top Buyers

No buying activity

Top Sellers

1
ZJP

Zallie James P.

Director, Officer: President And Ceo

79.8K sharesโ€ข3 transactions

$9.77M

2
FL

Fernandes Larry

Officer: Svp, Chief Comm & Sust Officer

5.6K sharesโ€ข3 transactions

$670K

3
GDM

Gable Davida Marie

Officer: Vp Corp. Controller, Finance

375 sharesโ€ข1 transactions

$42K

4
UJA

Uribe Jorge A.

Director

0 sharesโ€ข4 transactions

$0

Insider Activity Analysis

Net Insider Sentiment

Bearish

Strong bearish signal with $10.48M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.

Buy/Sell Ratio

0.00:1

Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.

Recent Trend (3 Months)

$42K

Heavy recent selling activity. Recent insider sales notably exceed purchasesโ€”may warrant investigation into company developments.

Insider Participation

High Selling

4 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.

Insider Activity Insight

Multiple red flags: Heavy selling, numerous sellers, and continued recent selling create a concerning pattern. Investigate fundamental drivers and consider whether company guidance or industry conditions have deteriorated.

0.00%
Dividend Yield
-100%
3Y-100.0%
5Y-100.0%
10Y-100.0%
ย 

ingr Dividend History

INGR
10Y CAGR +6%
Latest $0.82
Annual $4.08
5 year growth trend
Last Period: +0%