Ingredion Incorporated (INGR) Financial Ratios
29 years of historical data (1997–2025) · Consumer Defensive · Packaged Foods
EV/EBITDA
↓
5.51
↓-43% vs avg
5yr avg: 9.74
30Y Low5.2·High16.0
P/FCF
↓
12.08
↓-53% vs avg
5yr avg: 25.79
30Y Low5.0·High102.8
P/B Ratio
↓
1.46
↓-27% vs avg
5yr avg: 2.01
30Y Low0.9·High3.6
ROE
↑
17.7%
↓+22% vs avg
5yr avg: 14.5%
30Y Low-8%·High20%
Debt/EBITDA
↓
1.42
↓-42% vs avg
5yr avg: 2.46
30Y Low1.4·High4.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
INGR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Ingredion Incorporated trades at 8.8x earnings, 58% below its 5-year average of 20.9x, sitting at the 4th percentile of its historical range. Compared to the Consumer Defensive sector median P/E of 18.8x, the stock trades at a discount of 53%. On a free-cash-flow basis, the stock trades at 12.1x P/FCF, 53% below the 5-year average of 25.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.2B | $7.2B | $9.2B | $7.3B | $6.6B | $6.6B | $5.3B | $6.3B | $6.6B | $10.3B | $9.3B |
| Enterprise Value | $6.9B | $7.9B | $10.2B | $9.3B | $9.0B | $8.5B | $7.0B | $8.0B | $8.3B | $11.5B | $10.7B |
| P/E Ratio → | 8.76 | 9.86 | 14.17 | 11.31 | 13.34 | 55.86 | 15.28 | 15.16 | 14.81 | 19.80 | 19.08 |
| P/S Ratio | 0.86 | 1.00 | 1.23 | 0.89 | 0.83 | 0.95 | 0.89 | 1.01 | 1.04 | 1.66 | 1.54 |
| P/B Ratio | 1.46 | 1.65 | 2.36 | 1.99 | 2.01 | 2.03 | 1.73 | 2.26 | 2.73 | 3.52 | 3.57 |
| P/FCF | 12.08 | 14.07 | 8.07 | 9.81 | — | 71.22 | 10.88 | 17.80 | 18.54 | 22.19 | 18.97 |
| P/OCF | 6.54 | 7.62 | 6.38 | 6.88 | 43.17 | 16.71 | 6.42 | 9.21 | 9.34 | 13.36 | 12.01 |
P/E links to full P/E history page with 30-year chart
INGR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Ingredion Incorporated's enterprise value stands at 5.5x EBITDA, 43% below its 5-year average of 9.7x. The Consumer Defensive sector median is 11.0x, placing the stock at a 50% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.10 | 1.37 | 1.14 | 1.13 | 1.23 | 1.17 | 1.29 | 1.33 | 1.87 | 1.78 |
| EV / EBITDA | 5.51 | 6.31 | 9.30 | 7.88 | 9.21 | 15.98 | 8.83 | 9.06 | 8.78 | 11.05 | 10.68 |
| EV / EBIT | 6.69 | 7.86 | 10.51 | 9.73 | 11.74 | 26.31 | 11.96 | 12.08 | 11.88 | 13.61 | 13.13 |
| EV / FCF | — | 15.56 | 8.99 | 12.51 | — | 92.08 | 14.36 | 22.75 | 23.55 | 24.93 | 21.93 |
INGR Profitability
Margins and return-on-capital ratios measuring operating efficiency
Ingredion Incorporated earns an operating margin of 14.4%, above the Consumer Defensive sector average of 3.5%. Operating margins have expanded from 11.7% to 14.4% over the past 3 years, signaling improving operational efficiency. ROE of 17.7% indicates solid capital efficiency, compared to the sector median of 6.5%. ROIC of 15.5% represents solid returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.3% | 25.3% | 24.1% | 21.4% | 18.8% | 19.3% | 21.2% | 21.1% | 21.8% | 23.8% | 23.3% |
| Operating Margin | 14.4% | 14.4% | 11.9% | 11.7% | 9.6% | 4.5% | 9.7% | 10.7% | 11.2% | 13.5% | 13.4% |
| Net Profit Margin | 10.1% | 10.1% | 8.7% | 7.9% | 6.2% | 1.7% | 5.8% | 6.7% | 7.0% | 8.4% | 8.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.7% | 17.7% | 17.2% | 18.6% | 15.2% | 3.7% | 11.9% | 15.9% | 16.6% | 18.8% | 20.3% |
| ROA | 9.5% | 9.5% | 8.6% | 8.5% | 6.8% | 1.7% | 5.4% | 7.0% | 7.5% | 8.8% | 8.9% |
| ROIC | 15.5% | 15.5% | 12.5% | 12.6% | 10.5% | 4.7% | 9.4% | 11.5% | 12.6% | 15.3% | 15.9% |
| ROCE | 16.3% | 16.3% | 14.7% | 16.6% | 13.6% | 5.7% | 11.1% | 13.5% | 14.2% | 16.8% | 17.6% |
INGR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Ingredion Incorporated carries a Debt/EBITDA ratio of 1.4x, which is manageable (59% below the sector average of 3.5x). Net debt stands at $760M ($1.8B total debt minus $1.0B cash). Interest coverage of 27.3x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.41 | 0.41 | 0.52 | 0.66 | 0.82 | 0.70 | 0.77 | 0.72 | 0.87 | 0.64 | 0.75 |
| Debt / EBITDA | 1.42 | 1.42 | 1.86 | 2.04 | 2.74 | 4.24 | 2.98 | 2.27 | 2.21 | 1.78 | 1.95 |
| Net Debt / Equity | — | 0.17 | 0.27 | 0.55 | 0.75 | 0.60 | 0.55 | 0.63 | 0.74 | 0.43 | 0.56 |
| Net Debt / EBITDA | 0.60 | 0.60 | 0.95 | 1.70 | 2.50 | 3.62 | 2.14 | 1.97 | 1.87 | 1.21 | 1.44 |
| Debt / FCF | — | 1.49 | 0.91 | 2.70 | — | 20.86 | 3.48 | 4.95 | 5.01 | 2.74 | 2.95 |
| Interest Coverage | 27.32 | 27.32 | 24.87 | 8.36 | 7.75 | 4.35 | 7.25 | 7.53 | 8.67 | 10.73 | 11.16 |
INGR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Ingredion Incorporated's current ratio of 2.66x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.73x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 1.92x to 2.66x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.66 | 2.66 | 2.62 | 1.92 | 1.76 | 1.78 | 1.82 | 2.23 | 2.26 | 2.52 | 2.30 |
| Quick Ratio | 1.73 | 1.73 | 1.69 | 1.10 | 0.91 | 1.01 | 1.19 | 1.34 | 1.39 | 1.66 | 1.50 |
| Cash Ratio | 0.78 | 0.78 | 0.79 | 0.23 | 0.13 | 0.22 | 0.46 | 0.28 | 0.35 | 0.63 | 0.53 |
| Asset Turnover | — | 0.91 | 1.00 | 1.07 | 1.05 | 0.98 | 0.87 | 1.03 | 1.10 | 1.02 | 1.04 |
| Inventory Turnover | 4.39 | 4.39 | 4.75 | 4.42 | 4.04 | 4.75 | 5.14 | 5.69 | 5.97 | 5.80 | 5.93 |
| Days Sales Outstanding | — | 59.91 | 53.69 | 57.21 | 64.81 | 59.83 | 61.64 | 57.43 | 55.19 | 56.76 | 55.95 |
INGR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Ingredion Incorporated returns 6.9% to shareholders annually — split between a 3.3% dividend yield and 3.6% buyback yield. The payout ratio of 28.9% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 11.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.3% | 2.9% | 2.3% | 2.7% | 2.8% | 2.8% | 3.2% | 2.8% | 2.8% | 1.6% | 1.5% |
| Payout Ratio | 28.9% | 28.9% | 32.5% | 30.2% | 36.8% | 157.3% | 48.9% | 42.1% | 41.1% | 31.8% | 29.1% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 11.4% | 10.1% | 7.1% | 8.8% | 7.5% | 1.8% | 6.5% | 6.6% | 6.8% | 5.1% | 5.2% |
| FCF Yield | 8.3% | 7.1% | 12.4% | 10.2% | — | 1.4% | 9.2% | 5.6% | 5.4% | 4.5% | 5.3% |
| Buyback Yield | 3.6% | 3.1% | 2.4% | 1.4% | 1.7% | 1.0% | 0.0% | 0.0% | 10.0% | 1.2% | 0.1% |
| Total Shareholder Yield | 6.9% | 6.1% | 4.6% | 4.1% | 4.5% | 3.8% | 3.2% | 2.8% | 12.8% | 2.8% | 1.6% |
| Shares Outstanding | — | $65M | $67M | $67M | $67M | $68M | $68M | $67M | $72M | $74M | $74M |
Peer Comparison
Compare INGR with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 INGRYou | $6B | 8.8 | 5.5 | 12.1 | 25.3% | 14.4% | 17.7% | 15.5% | 1.4 |
 ADM | $36B | 33.7 | 16.7 | 8.6 | 6.3% | 1.8% | 4.7% | 3.3% | 3.2 |
 AVY | $12B | 18.1 | 11.7 | 17.1 | 28.8% | 12.5% | 30.2% | 15.2% | 2.8 |
 RPM | $14B | 20.2 | 15.0 | 25.7 | 41.4% | 12.3% | 25.5% | 13.3% | 2.7 |
 BG | $22B | 22.9 | 21.4 | — | 4.5% | 1.5% | 5.8% | 3.3% | 9.6 |
 CALM | $4B | 3.1 | 2.0 | 3.5 | 43.4% | 36.1% | 55.9% | 63.6% | — |
 IFF | $20B | -52.5 | 13.1 | 76.6 | 30.9% | 9.2% | -2.7% | 3.5% | 3.4 |
 SYY | $38B | 21.1 | 12.2 | 21.2 | 18.4% | 3.8% | 97.5% | 15.7% | 3.5 |
 ANDE | $2B | 25.4 | 12.9 | — | 6.5% | 1.2% | 6.6% | 4.6% | 4.0 |
 DE | $159B | 31.9 | 20.2 | 49.2 | 36.5% | 18.8% | 20.5% | 7.8% | 6.0 |
 MOS | $7B | 13.5 | 5.5 | — | 15.1% | 8.7% | 4.5% | 4.8% | 2.4 |
| Consumer Defensive Median | — | 18.8 | 11.0 | 15.3 | 40.8% | 3.5% | 6.5% | 5.7% | 3.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 29 years · Updated daily
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INGR — Frequently Asked Questions
Quick answers to the most common questions about buying INGR stock.
What is Ingredion Incorporated's P/E ratio?
Ingredion Incorporated's current P/E ratio is 8.8x. The historical average is 19.2x. This places it at the 4th percentile of its historical range.
What is Ingredion Incorporated's EV/EBITDA?
Ingredion Incorporated's current EV/EBITDA is 5.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.4x.
What is Ingredion Incorporated's ROE?
Ingredion Incorporated's return on equity (ROE) is 17.7%. The historical average is 11.8%.
Is INGR stock overvalued?
Based on historical data, Ingredion Incorporated is trading at a P/E of 8.8x. This is at the 4th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Ingredion Incorporated's dividend yield?
Ingredion Incorporated's current dividend yield is 3.30% with a payout ratio of 28.9%.
What are Ingredion Incorporated's profit margins?
Ingredion Incorporated has 25.3% gross margin and 14.4% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Ingredion Incorporated have?
Ingredion Incorporated's Debt/EBITDA ratio is 1.4x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.