INGR · NYSE · Consumer Defensive
Ingredion Incorporated (INGR) — Rank #303 by gross profitability (GP/assets 0.23) · ROE 16.1% · Piotroski F-Score 8 / 9.
As-of 2026-10-30 · CIK 0001046257 · all metrics point-in-time as of the filing date.
About
Ingredion Incorporated, together with its subsidiaries, engages in the manufacture and sale of sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries worldwide.
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The company operates in Texture & Healthful Solutions; Food & Industrial IngredientsLATAM; and Food & Industrial IngredientsU.S./CANADA segments. It offers starch products for use in a range of processed foods; cornstarch; specialty paper starches for enhanced drainage, fiber retention, oil and grease resistance, improved printability, and biochemical oxygen demand control; starches and specialty starches for textile industry; industrial starches are used in the production of construction materials, textiles, adhesives, pharmaceuticals, and cosmetics, as well as in mining and water filtration; and specialty industrial starches for use in biomaterial applications, including biodegradable plastics, fabric softeners and detergents, hair and skin care applications, dusting powders for surgical gloves, and in the production of glass fiber and insulation. The company provides sweetener products comprising glucose syrups, high maltose syrup, high fructose corn syrup, dextrose, polyols, maltodextrin, glucose syrup solids, and non-genetically modified organism syrups for applications in food and beverage products, such as baked goods, snack foods, canned fruits, condiments, candy and other sweets, dairy products, ice cream, jams and jellies, prepared mixes, table syrups, and beverages. In addition, the company sells refined corn oil, corn gluten feed, and corn gluten meal; and other products. 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.
- Industry
- Packaged Foods
- Sector
- Consumer Defensive
- State
- DE
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- ingredion.com
Company Snapshot
P/E and dividend yield are the primary valuation lenses for mature businesses.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
11,000
Industry
Packaged Foods
Exchange
NYSE
10/12
Flags passed
INGR fails 1 critical flag
Passes 10 of 12 quality flags, 1 caution
- FAILRevenue declining YoY
Revenue contracted year over year
- CAUTIONDisclosure regression
A previously-disclosed line item is no longer reported — worth checking the filing for why
- PASSGross margin holding
- PASSDilution within 2%
- PASSFCF not negative from investment
- PASSOperating margin holding
- PASSFree cash flow intact
- PASSPasses safety gate
- PASSBalance sheet stable
- PASSNo competitive retreat
- PASSSBC not compressing margin
- PASSNo valuation convergence
Strengths Revenue growth accelerating · Operating leverage expanding · Sequential beat (rev + EPS)
A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
2/3 passGrowth
1/2 passDividend yield and payout ratio are the primary reads at this stage (trailing P/E — see valuation above).
Profitability
Does it make money well?
Warning: Revenue declining YoY · GP/assets 0.23
Gross profitability (GP / assets)
0.23
Primary signal (Novy-Marx).
8th of 13 SIC 20 peers
Return on equity
16.1%
Gross margin
25.3%
9th of 13 SIC 20 peers
Revenue growth (YoY)
-2.8%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
-3.1%
Revenue CAGR (5Y)
3.8%
Earnings CAGR (3Y)
14.0%
FCF CAGR (3Y)
—
Cash Flow Health
Is the cash real?
No warning flags · FCF 30% below net income
Free cash flow
$511.00M
Operating cash flow minus capex.
Positive free cash flow
FCF vs net income
-29.9%
(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.
FCF not below net income
Fails when free cash flow is below net income (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.6%
Stock-based comp intensity.
Balance Sheet Strength
Can it survive a storm?
No warning flags · net debt $831.00M, F-Score 8/9
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.77
9th of 13 SIC 20 peers (best = lowest)
Current ratio
2.80×
8th of 13 SIC 20 peers
Quick ratio
1.86×
Net cash
-$831.00M
Cash & equivalents minus total debt.
Piotroski F-Score
8 / 9
Fundamental-strength score (0-9).
Valuation
Is the price reasonable?
No warning flags
Dividend safety
Composite score
3.2 / 5
Capital allocation quality
Composite score
3.0 / 5
Lifecycle Phase History
Price History
Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports