Ingredion (INGR) AI Stock Analysis

• Market Cap: $8.94B
• Dividend Yield: 2.3%
• Average Volume (3M): 411.72K
• Price to Earnings (P/E): 14.7
• Beta (1Y): 0.38
• Revenue Growth: -6.88%
• EPS Growth: -4.93%
• Country: US
• Employees: 11,000
• Sector: Consumer Defensive
• Sector Strength: 63
• Industry: Packaged Foods
• EPS (TTM): 2.97
• Shares Outstanding: 64,311,010
• 10 Day Avg. Volume: 334,054
• 30 Day Avg. Volume: 411,724
• PEG Ratio: 0.04
• Price to Book (P/B): 2.03
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -43.80
• Enterprise Value/Market Cap: 0.98
• Enterprise Value/Revenue: 0.29
• Enterprise Value/Gross Profit: 4.59
• Enterprise Value/Ebitda: 1.79
• 1Y Price Target: $152.75
• Price Target Upside: 10.48% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4

• Rating: 75 Outperform
• Price Target: $154.00 ▲(11.38%Upside)

Ingredion's overall stock score reflects strong financial performance and a positive outlook following the latest earnings call. Technical indicators suggest stability, while valuation metrics indicate reasonable pricing. Corporate governance remains robust, with continued investor confidence.

Positive Factors

Balance Sheet and M&A

Strong balance sheet should support earnings growth via M&A and upside to share repurchase expectations.

Earnings Guidance

Management has raised its adjusted EPS guidance by approximately 5% following solid 3Q results, supporting an increase in the price target.

Operational Efficiency

The company's new approach to pricing, better manufacturing spending, and improved raw material procurement have led to expanded gross margins.

Negative Factors

Sales Decline

Despite decreases in sales, the company started the year with solid outperformance on profitability and expanding margins.

Valuation Concerns

Market Perform rating is reiterated owing to valuation sensitivity.

Valuation Sensitivity

Reiterate Market Perform owing to valuation sensitivity, though constructive on INGR’s outlook supported by ongoing volume recovery, lower corn prices, internal cost savings, organic growth projects, and ample cash for buybacks and M&A.

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 through the sale of its diverse portfolio of ingredient solutions. The company primarily earns money by converting agricultural raw materials into a wide range of ingredient products that are sold to food and beverage manufacturers, as well as other industries. Key revenue streams include specialty products, which offer higher margins due to their tailored applications and functionality, and core products, which include more basic ingredients like sweeteners and starches. Ingredion's earnings are significantly enhanced by strategic partnerships and collaborations that expand its market reach and innovation capabilities. Additionally, the company benefits from its global manufacturing and supply chain operations, which provide cost efficiencies and access to diverse markets.

Ingredion Financial Statement Overview

Summary

Ingredion presents a robust financial position with strong profitability and cash generation capabilities. While revenue has seen a decline, operational efficiencies have improved margins. The balance sheet is healthy with moderate leverage, and cash flow metrics highlight excellent liquidity and financial flexibility. Continued focus on revenue growth and debt management will enhance long-term stability.

Income Statement

Ingredion's income statement shows a strong gross profit margin of 25.8% for TTM, indicating efficient production and cost management. The net profit margin is healthy at 8.5% for TTM, demonstrating solid profitability. While revenue decreased from $8.16 billion in 2023 to $7.36 billion in TTM, the EBIT and EBITDA margins improved to 14.1% and 16.2% respectively, reflecting operational efficiency despite revenue contraction.

Balance Sheet

The balance sheet indicates a manageable debt-to-equity ratio of 0.44 for TTM, reflecting moderate leverage. Return on Equity (ROE) is robust at 15.6% for TTM, showcasing effective use of equity to generate profits. The equity ratio stands at 53.8%, signifying a strong capital structure with a higher proportion of equity. However, the slight increase in total debt and reduced cash reserves highlight the need for careful debt management.

Cash Flow

Cash flow is strong, with a high operating cash flow to net income ratio of 2.08 for TTM, indicating excellent cash generation from operations. Free cash flow improved to $976 million, showing a significant recovery from previous years. The free cash flow to net income ratio is an impressive 1.55, underscoring efficient cash management and the potential for future investments or debt reduction.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
7.36B	7.43B	8.16B	7.95B	6.89B	5.99B
	Gross Profit
1.90B	1.79B	1.75B	1.49B	1.33B	1.27B
	EBIT
1.03B	883.00M	957.00M	762.00M	709.00M	582.00M
	EBITDA
1.19B	1.18B	1.17B	978.00M	543.00M	801.00M
	Net Income Common Stockholders
628.00M	647.00M	643.00M	492.00M	117.00M	348.00M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
846.00M	1.01B	409.00M	239.00M	332.00M	665.00M
	Total Assets
7.47B	7.44B	7.64B	7.56B	7.00B	6.86B
	Total Debt
1.78B	2.04B	2.40B	2.48B	2.05B	2.32B
	Net Debt
947.00M	1.04B	2.00B	2.25B	1.72B	1.66B
	Total Liabilities
3.42B	3.55B	4.05B	4.30B	3.77B	3.79B
	Stockholders Equity
4.02B	3.80B	3.54B	3.19B	3.14B	2.98B
Cash Flow		Free Cash Flow
976.00M	1.14B	741.00M	-148.00M	92.00M	496.00M
	Operating Cash Flow
1.30B	1.44B	1.06B	152.00M	392.00M	829.00M
	Investing Cash Flow
-358.00M	-47.00M	-329.00M	-320.00M	-335.00M	-571.00M
	Financing Cash Flow
-532.00M	-765.00M	-569.00M	103.00M	-373.00M	143.00M

Ingredion Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 138.26
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INGR, the sentiment is Positive. The current price of 138.26 is below the 20-day moving average (MA) of 138.42, above the 50-day MA of 134.53, and above the 200-day MA of 134.77, indicating a neutral trend. The MACD of 0.89 indicates Positive momentum. The RSI at 53.76 is Neutral, neither overbought nor oversold. The STOCH value of 63.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for INGR.

Ingredion Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BRFS	80 Outperform	$6.48B	9.16	23.47%	2.28%	3.82%	―
DAR	75 Outperform	$5.14B	30.65	3.79%	―	-11.02%	-68.34%
INGR	75 Outperform	$8.94B	14.67	16.31%	2.30%	-6.88%	-4.93%
POST	73 Outperform	$6.18B	20.23	9.15%	―	1.48%	9.36%
Sector *	65 Neutral	$8.92B	15.03	4.68%	6.11%	3.59%	-2.49%
CPB	65 Neutral	$10.16B	22.51	11.67%	4.58%	8.65%	-38.57%
JJSF	58 Neutral	$2.28B	30.06	8.20%	2.67%	0.49%	-12.32%

Ingredion Corporate Events

Ingredion Stockholders Approve Key Proposals at Annual Meeting

On May 21, 2025, Ingredion Incorporated held its annual meeting of stockholders where three key proposals were voted on. The stockholders elected all 11 nominees to the Board of Directors for a one-year term, approved the executive compensation on an advisory basis, and ratified KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. These decisions reflect continued support for the company’s leadership and financial oversight.

The most recent analyst rating on (INGR) stock is a Hold with a $147.00 price target. To see the full list of analyst forecasts on Ingredion stock, see the INGR Stock Forecast page.