Is the business good?
How good a business is INGR?
Ingredion Incorporated earns 14% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
14%
Return on invested capital · cost of capital 9.0% · 5.1 points above what the capital costs: growth creates value
- Operating margin
- 13%
Operating margin · Packaged Foods median 8.2% · 12 months to Q1 2026
- Cash conversion
- 0.67×
Cash conversion · 1.56× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- −2.4%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 9.7% |
| FY2021 | 4.5% |
| FY2022 | 9.6% |
| FY2023 | 12% |
| FY2024 | 12% |
| FY2025 | 14% |
Details›
- Gross margin12 months to Q1 2026
- 24%
- Operating margin12 months to Q1 2026
- 13%
- Net margin12 months to Q1 2026
- 9.4%
- Free cash flow margin
- 6.2%
- Revenue, trailing twelve months
- $7.20B
- Free cash flow, trailing twelve months
- $449M
- Net income, trailing twelve months
- $674M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 14%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.