Ingredion (INGR) AI Stock Analysis

• Market Cap: $6.88B
• Dividend Yield: 2.97%
• Average Volume (3M): 684.39K
• Price to Earnings (P/E): 10.8
• Beta (1Y): 0.36
• Revenue Growth: -3.83%
• EPS Growth: -2.04%
• Country: US
• Employees: 11,000
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 2.75
• Shares Outstanding: 63,530,136
• 10 Day Avg. Volume: 611,545
• 30 Day Avg. Volume: 684,388
• PEG Ratio: 9.69
• Price to Book (P/B): 2.33
• Price to Sales (P/S): 1.21
• P/FCF Ratio: 7.94
• Enterprise Value/Market Cap: 1.29
• Enterprise Value/Revenue: 1.22
• Enterprise Value/Gross Profit: 4.81
• Enterprise Value/Ebitda: 7.57
• 1Y Price Target: $125.50
• Price Target Upside: 15.87% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4
• EPS Forecast (FY): 11.23
• Revenue Forecast (FY): $7.37B

• Rating: 65 Neutral
• Price Target: $123.00 ▲(13.56% Upside)

Ingredion's overall score reflects solid financial health and attractive valuation, but is tempered by bearish technical indicators and mixed earnings call sentiment. The company's ability to address operational challenges and improve revenue growth will be crucial for future performance.

Positive Factors

Cash Generation Ability

Improved cash generation enhances financial flexibility, supporting investments in growth initiatives and shareholder returns.

Management Stability

Retaining experienced leadership ensures continuity in strategic direction, potentially enhancing long-term business execution and stability.

Operational Excellence

Achieving cost savings targets demonstrates effective operational management, which can improve margins and competitive positioning.

Negative Factors

Revenue Growth Challenges

Declining sales indicate challenges in maintaining market demand, which could impact long-term revenue growth and market share.

Operational Challenges

Ongoing operational issues can strain resources and reduce profitability, potentially hindering long-term operational efficiency.

Weakening Demand in Key Markets

Decreased demand in key markets like LatAm due to economic factors can limit growth opportunities and affect overall financial performance.

Ingredion Business Overview & Revenue Model

Company Description

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.

How the Company Makes Money

Ingredion generates revenue primarily through the sale of its diverse range of ingredient solutions, which include starches, sweeteners, and specialty ingredients. The company operates in several key markets, including food and beverage, where it provides ingredients that enhance texture and flavor, as well as improve nutritional profiles. Its revenue model is driven by the demand for high-quality, functional ingredients from manufacturers in various sectors. Ingredion also partners with food and beverage companies to develop customized solutions, which can lead to long-term contracts and recurring revenue. Additionally, its global footprint allows it to benefit from economies of scale and leverage local market insights to optimize pricing strategies. The company continually invests in research and development to innovate new products, contributing to its revenue growth and competitive advantage in the marketplace.

Ingredion Financial Statement Overview

Summary

Ingredion demonstrates solid financial health with strong profitability and improved leverage. However, challenges in revenue growth and cash efficiency need attention for sustained stability.

Income Statement

Ingredion's income statement shows a stable gross profit margin of around 25% in TTM, with a slight decrease in revenue growth. The net profit margin has improved to 9.07% in TTM, indicating better profitability compared to previous years. However, the negative revenue growth rate in TTM suggests challenges in maintaining sales momentum.

Balance Sheet

The balance sheet reflects a healthy debt-to-equity ratio of 0.42 in TTM, showing improved leverage management. Return on equity remains strong at 16.10%, indicating efficient use of equity to generate profits. The equity ratio is stable, suggesting a balanced asset structure.

Cash Flow

Cash flow analysis reveals a positive free cash flow growth rate of 5.11% in TTM, indicating improved cash generation. The operating cash flow to net income ratio is 0.76, showing a reasonable conversion of income to cash. However, the free cash flow to net income ratio suggests potential room for improvement in cash efficiency.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	7.26B	7.43B	8.16B	7.95B	6.89B	5.99B
Gross Profit	1.85B	1.79B	1.75B	1.49B	1.33B	1.27B
EBITDA	1.18B	1.18B	1.17B	982.00M	542.00M	800.00M
Net Income	659.00M	647.00M	643.00M	492.00M	117.00M	348.00M
Balance Sheet
Total Assets	7.83B	7.44B	7.64B	7.56B	7.00B	6.86B
Cash, Cash Equivalents and Short-Term Investments	921.00M	1.01B	409.00M	239.00M	332.00M	665.00M
Total Debt	1.80B	2.04B	2.40B	2.68B	2.25B	2.37B
Total Liabilities	3.57B	3.55B	3.99B	4.30B	3.77B	3.79B
Stockholders Equity	4.24B	3.86B	3.59B	3.19B	3.14B	2.98B
Cash Flow
Free Cash Flow	844.00M	1.14B	741.00M	-148.00M	92.00M	489.00M
Operating Cash Flow	975.00M	1.44B	1.06B	152.00M	392.00M	829.00M
Investing Cash Flow	-428.00M	-47.00M	-329.00M	-320.00M	-335.00M	-571.00M
Financing Cash Flow	-504.00M	-765.00M	-569.00M	103.00M	-373.00M	143.00M

Ingredion Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 108.31
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INGR, the sentiment is Neutral. The current price of 108.31 is above the 20-day moving average (MA) of 107.70, below the 50-day MA of 113.99, and below the 200-day MA of 126.49, indicating a neutral trend. The MACD of -1.59 indicates Negative momentum. The RSI at 42.76 is Neutral, neither overbought nor oversold. The STOCH value of 71.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for INGR.

Ingredion Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BRFS	79 Outperform	―	―	―	―	-1.19%	78.79%
PPC	76 Outperform	$9.44B	7.70	31.76%	―	1.81%	24.67%
JJSF	69 Neutral	$1.76B	27.11	6.82%	3.45%	0.54%	-24.42%
POST	68 Neutral	$5.01B	17.50	8.56%	―	2.97%	-2.68%
INGR	65 Neutral	$6.88B	10.79	16.10%	2.97%	-3.83%	-2.04%
DAR	64 Neutral	$5.78B	54.64	2.33%	―	-0.83%	-58.55%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%

Ingredion Corporate Events

Ingredion Approves New Stock Repurchase Program

On November 3, 2025, Ingredion‘s Board of Directors terminated its existing stock repurchase program and approved a new one, allowing the purchase of up to 8 million shares from November 4, 2025, through December 31, 2028. This move provides the company with flexibility in managing its capital structure, although it is not obligated to repurchase any shares and can modify the program at any time.

Ingredion Divests Majority Stake in Pakistan Affiliate

On September 25, 2025, Ingredion Incorporated announced a definitive agreement to divest a 51% ownership interest in its Pakistan affiliate, Rafhan Maize Products Co. Ltd., to affiliates of the Nishat Group. Ingredion will retain a 20% stake, with the transaction expected to close in the first half of 2026, pending regulatory approvals and financing conditions.