Ingredion Incorporated (INGR) Income Statement
INGR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsINGR revenue and net income
Where INGR's revenue goes
2025Each bar shows an amount and its share of revenue. INGR kept 10.1% of revenue as net income.
INGR profit margins
INGR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −2.8% | −3.1% | +3.8% | +1.9% |
| Gross profit | +2.1% | +7.0% | +7.5% | +3.9% |
| Operating income | +17.4% | +10.8% | +12.2% | +4.6% |
| Net income | +12.7% | +14.0% | +15.9% | +6.1% |
| EPS (diluted) | +4.6% | +14.3% | +12.3% | +6.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
INGR quarterly EPS vs estimates
Ingredion beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 3, 2026 (estimate $2.66).
INGR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.22B | $7.43B | $8.16B | $7.95B | $6.89B | $5.99B | $6.21B | $6.29B | $6.18B | $6.02B |
| Cost of revenue | $5.39B | $5.64B | $6.41B | $6.45B | $5.56B | $4.71B | $4.90B | $4.92B | $4.77B | $4.68B |
| Gross profit | $1.83B | $1.79B | $1.75B | $1.49B | $1.33B | $1.27B | $1.31B | $1.37B | $1.47B | $1.40B |
| Research & development | — | $67.0M | $63.0M | $52.0M | $43.0M | $43.0M | $44.0M | $46.0M | $43.0M | $41.0M |
| Sales, general & admin | — | — | — | — | — | — | $611.0M | $607.0M | $610.0M | $579.0M |
| Total operating expenses | $791.0M | $908.0M | $792.0M | $732.0M | $1.02B | $690.0M | $648.0M | $665.0M | $636.0M | $595.0M |
| Operating income | $1.04B | $883.0M | $957.0M | $762.0M | $310.0M | $582.0M | $664.0M | $703.0M | $836.0M | $806.0M |
| Interest income | — | — | — | — | — | $6.0M | $7.0M | $9.0M | $11.0M | $10.0M |
| Interest expense | $37.0M | $39.0M | $114.0M | $99.0M | $74.0M | $81.0M | $88.0M | $81.0M | $79.0M | $73.0M |
| Income before taxes | $974.0M | $931.0M | $839.0M | $668.0M | $248.0M | $506.0M | $582.0M | $621.0M | $769.0M | $741.8M |
| Income taxes | $238.0M | $277.0M | $188.0M | $166.0M | $123.0M | $152.0M | $158.0M | $167.0M | $237.0M | $245.7M |
| Net income | $729.0M | $647.0M | $643.0M | $492.0M | $117.0M | $348.0M | $413.0M | $443.0M | $519.0M | $484.9M |
| EBITDA | $1.23B | $1.18B | $1.17B | $982.0M | $542.0M | $800.0M | $883.0M | $949.0M | $1.06B | $1.01B |
| EPS (diluted) | $11.12 | $10.63 | $9.42 | $7.45 | $6.66 | $6.23 | $6.63 | $6.91 | $7.71 | $7.10 |
| Gross margin | 25.3% | 24.1% | 21.4% | 18.8% | 19.3% | 21.2% | 21.1% | 21.8% | 23.8% | 23.3% |
| Operating margin | 14.4% | 11.9% | 11.7% | 9.6% | 4.5% | 9.7% | 10.7% | 11.2% | 13.5% | 13.4% |
| Net margin | 10.1% | 8.7% | 7.9% | 6.2% | 1.7% | 5.8% | 6.7% | 7.0% | 8.4% | 8.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.85B | $1.79B | $1.76B | $1.82B | $1.83B | $1.81B | $1.80B | $1.87B | $1.88B | $1.88B | $1.92B | $2.03B |
| Cost of revenue | $1.42B | $1.39B | $1.33B | $1.36B | $1.36B | $1.35B | $1.35B | $1.39B | $1.43B | $1.47B | $1.52B | $1.61B |
| Gross profit | $426.0M | $401.0M | $430.0M | $455.0M | $477.0M | $466.0M | $449.0M | $479.0M | $446.0M | $417.0M | $400.0M | $421.0M |
| Research & development | — | — | — | — | — | — | $67.0M | — | — | — | $63.0M | — |
| Total operating expenses | $238.0M | $200.0M | $210.0M | $203.0M | $206.0M | $190.0M | $287.0M | $211.0M | $206.0M | $204.0M | $198.0M | $208.0M |
| Operating income | $188.0M | $201.0M | $220.0M | $252.0M | $271.0M | $276.0M | $162.0M | $268.0M | $240.0M | $213.0M | $202.0M | $213.0M |
| Interest expense | $55.0M | $9.0M | $9.0M | $7.0M | $12.0M | $9.0M | $9.0M | $1.0M | $10.0M | $19.0M | $26.0M | $26.0M |
| Income before taxes | $175.0M | $194.0M | $207.0M | $241.0M | $259.0M | $267.0M | $152.0M | $273.0M | $230.0M | $276.0M | $176.0M | $185.0M |
| Income taxes | $59.0M | $50.0M | $40.0M | $69.0M | $61.0M | $68.0M | $55.0M | $84.0M | $80.0M | $58.0M | $43.0M | $25.0M |
| Net income | $114.0M | $142.0M | $165.0M | $171.0M | $196.0M | $197.0M | $95.0M | $188.0M | $148.0M | $216.0M | $131.0M | $158.0M |
| EBITDA | $230.0M | $258.0M | $273.0M | $305.0M | $327.0M | $338.0M | $215.0M | $327.0M | $317.0M | $348.0M | $262.0M | $267.0M |
| EPS (diluted) | $2.82 | $2.34 | $2.53 | $2.75 | $2.87 | $2.97 | $2.63 | $3.05 | $2.87 | $2.08 | $1.97 | $2.33 |
| Gross margin | 23.0% | 22.4% | 24.5% | 25.1% | 26.0% | 25.7% | 24.9% | 25.6% | 23.7% | 22.2% | 20.8% | 20.7% |
| Operating margin | 10.2% | 11.2% | 12.5% | 13.9% | 14.8% | 15.2% | 9.0% | 14.3% | 12.8% | 11.3% | 10.5% | 10.5% |
| Net margin | 6.2% | 7.9% | 9.4% | 9.4% | 10.7% | 10.9% | 5.3% | 10.1% | 7.9% | 11.5% | 6.8% | 7.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in INGR's financial statements (latest annual report filed February 17, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
INGR financial results
In fiscal year 2025 (ended December 31, 2025), Ingredion reported revenue of $7.2 billion, down 2.8% from the year before. It had net income of $729.0 million (up 12.7%), a net profit margin of 10.1%. Diluted earnings per share came to $11.12. Over five years revenue grew at an average rate of 3.8% a year.
See the INGR stock overview for the latest quote and news, or the INGR chart for price history and technical indicators.
INGR income statement FAQ
What is Ingredion's annual revenue?
Ingredion reported total revenue of $7.2 billion for fiscal year 2025, which ended on December 31, 2025. That was down 2.8% from $7.4 billion the previous year.
Is Ingredion profitable?
Yes. Ingredion reported net income of $729.0 million in fiscal 2025, a net profit margin of 10.1%; its operating margin was 14.4%.
What is Ingredion's gross margin?
Ingredion's gross margin was 25.3% in fiscal 2025: for every $100 of revenue, Ingredion kept $25 after the direct cost of its products and services.
How fast is Ingredion growing?
Revenue grew 3.8% a year on average over the last five fiscal years, from $6.0 billion to $7.2 billion.
What are Ingredion's earnings per share?
Ingredion earned $11.12 per diluted share in fiscal 2025, compared with $10.63 a year earlier.
When will Ingredion report its next earnings?
Ingredion is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 before the market opens.
When does Ingredion's fiscal year end?
Ingredion's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 17, 2026.