Ingredion Incorporated (INGR) Key Metrics
INGR valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $6.18B
- Enterprise value
- $6.94B
- P/E (TTM)
- 10.7 10-yr median 15.0
- Forward P/E
- 8.4
- PEG ratio
- 1.13
- Price / sales
- 0.9 10-yr median 1.0
- Price / book
- 1.4 10-yr median 2.2
- EV / EBITDA
- 6.2 10-yr median 8.9
- Dividend yield
- 3.39% $3.32 a year
- Beta
- 0.64
INGR key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsINGR valuation Price multiples at each fiscal year-end price.
INGR returns How much profit the business earns on the capital it uses.
INGR per-share figures Results divided by the shares outstanding at year-end.
INGR financial health Debt, liquidity and how easily interest is covered.
INGR efficiency & capital use Working capital cycle and where the cash goes.
INGR valuation history
INGR returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
INGR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
INGR cash returned to shareholders
INGR price vs earnings per share
INGR key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $7.19B | $9.16B | $7.27B | $6.56B | $6.55B | $5.32B | $6.26B | $6.56B | $10.28B | $9.26B |
| Enterprise value | $7.95B | $10.19B | $9.26B | $9.00B | $8.47B | $7.02B | $8.00B | $8.33B | $11.53B | $10.70B |
| P/E ratio | 9.9 | 14.2 | 11.3 | 13.3 | 56.0 | 15.3 | 15.2 | 14.8 | 19.8 | 19.1 |
| Price / sales | 1.0 | 1.2 | 0.9 | 0.8 | 1.0 | 0.9 | 1.0 | 1.0 | 1.7 | 1.5 |
| Price / book | 1.7 | 2.4 | 2.0 | 2.1 | 2.1 | 1.8 | 2.3 | 2.7 | 3.6 | 3.6 |
| Price / free cash flow | 14.1 | 8.1 | 9.8 | — | 71.2 | 10.7 | 17.8 | 18.5 | 22.2 | 19.0 |
| Price / operating cash flow | 7.6 | 6.4 | 6.9 | 43.2 | 16.7 | 6.4 | 9.2 | 9.3 | 13.4 | 12.0 |
| EV / sales | 1.1 | 1.4 | 1.1 | 1.1 | 1.2 | 1.2 | 1.3 | 1.3 | 1.9 | 1.8 |
| EV / EBITDA | 6.4 | 8.6 | 7.9 | 9.2 | 15.6 | 8.8 | 9.1 | 8.8 | 10.9 | 10.6 |
| EV / free cash flow | 15.5 | 9.0 | 12.5 | — | 92.0 | 14.2 | 22.7 | 23.5 | 24.9 | 21.9 |
| Earnings yield | 10.1% | 7.1% | 8.8% | 7.5% | 1.8% | 6.5% | 6.6% | 6.8% | 5.1% | 5.2% |
| Free cash flow yield | 7.1% | 12.4% | 10.2% | −2.3% | 1.4% | 9.3% | 5.6% | 5.4% | 4.5% | 5.3% |
| Dividend yield | 2.9% | 2.3% | 2.7% | 2.8% | 2.8% | 3.3% | 2.8% | 2.6% | 1.6% | 1.5% |
| Shareholder yield (dividends + buybacks) | 6.1% | 4.6% | 4.1% | 4.3% | 3.6% | 3.4% | 2.8% | 12.6% | 2.8% | 1.6% |
| Share price at fiscal year-end | $110.26 | $137.56 | $108.53 | $97.93 | $96.64 | $78.67 | $92.95 | $91.40 | $139.80 | $124.96 |
| Per share | ||||||||||
| Revenue per share | $110.72 | $111.56 | $121.79 | $118.60 | $101.68 | $88.57 | $92.12 | $87.59 | $84.08 | $81.26 |
| Earnings per share | $11.18 | $9.71 | $9.60 | $7.34 | $1.73 | $5.15 | $6.13 | $6.17 | $7.06 | $6.54 |
| Operating cash flow per share | $14.48 | $21.56 | $15.78 | $2.27 | $5.78 | $12.26 | $10.09 | $9.79 | $10.46 | $10.40 |
| Free cash flow per share | $7.84 | $17.04 | $11.06 | −$2.21 | $1.36 | $7.34 | $5.22 | $4.93 | $6.30 | $6.59 |
| Cash per share | $15.84 | $15.14 | $6.10 | $3.57 | $4.90 | $9.84 | $3.98 | $4.65 | $8.22 | $6.96 |
| Book value per share | $66.53 | $58.02 | $53.63 | $47.69 | $46.25 | $44.10 | $40.82 | $33.26 | $39.33 | $34.62 |
| Tangible book value per share | $32.93 | $39.04 | $34.18 | $28.27 | $26.37 | $24.19 | $22.45 | $15.84 | $21.70 | $17.26 |
| Dividends per share | $3.24 | $3.15 | $2.90 | $2.70 | $2.71 | $2.63 | $2.58 | $2.41 | $2.24 | $1.90 |
| Capex per share | $6.64 | $4.52 | $4.72 | $4.48 | $4.42 | $4.93 | $4.87 | $4.86 | $4.16 | $3.82 |
| Debt per share | $27.45 | $30.56 | $35.84 | $39.96 | $33.14 | $35.03 | $29.79 | $29.26 | $25.35 | $26.36 |
| Shares outstanding | 65.2M | 66.6M | 67.0M | 67.0M | 67.8M | 67.6M | 67.4M | 71.8M | 73.5M | 74.1M |
| Change in shares outstanding | −2.1% | −0.6% | 0.0% | −1.2% | +0.3% | +0.3% | −6.1% | −2.3% | −0.8% | +1.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 17.8% | 17.4% | 18.9% | 15.5% | 3.8% | 12.1% | 16.1% | 16.8% | 19.0% | 20.6% |
| Return on invested capital (ROIC) | 15.7% | 11.8% | 13.2% | 10.7% | 3.2% | 8.9% | 11.2% | 12.4% | 14.2% | 14.3% |
| Return on assets (ROA) | 9.5% | 8.6% | 8.5% | 6.8% | 1.7% | 5.4% | 7.0% | 7.5% | 8.8% | 8.9% |
| Return on tangible assets | 12.8% | 10.5% | 10.1% | 7.9% | 2.1% | 6.3% | 8.6% | 9.9% | 10.8% | 10.8% |
| Free cash flow margin | 7.1% | 15.3% | 9.1% | −1.9% | 1.3% | 8.3% | 5.7% | 5.6% | 7.5% | 8.1% |
| Income quality (OCF / net income) | 1.29 | 2.22 | 1.64 | 0.31 | 3.35 | 2.38 | 1.65 | 1.59 | 1.48 | 1.59 |
| Financial health | ||||||||||
| Total debt | $1.79B | $2.04B | $2.40B | $2.68B | $2.25B | $2.37B | $2.01B | $2.10B | $1.86B | $1.95B |
| Cash & short-term investments | $1.03B | $1.01B | $409.0M | $239.0M | $332.0M | $665.0M | $268.0M | $334.0M | $604.0M | $516.0M |
| Net debt | $757.0M | $1.03B | $1.99B | $2.44B | $1.92B | $1.70B | $1.74B | $1.77B | $1.26B | $1.44B |
| Debt / equity | 0.41 | 0.53 | 0.67 | 0.84 | 0.72 | 0.79 | 0.73 | 0.88 | 0.64 | 0.76 |
| Debt / assets | 0.23 | 0.27 | 0.31 | 0.35 | 0.32 | 0.35 | 0.33 | 0.37 | 0.31 | 0.34 |
| Net debt / EBITDA | 0.61 | 0.87 | 1.70 | 2.48 | 3.53 | 2.13 | 1.97 | 1.86 | 1.19 | 1.42 |
| Current ratio | 2.66 | 2.62 | 1.92 | 1.76 | 1.78 | 1.82 | 2.23 | 2.26 | 2.52 | 2.30 |
| Quick ratio | 1.73 | 1.69 | 1.10 | 0.91 | 1.01 | 1.19 | 1.34 | 1.39 | 1.66 | 1.50 |
| Interest coverage | 28.0 | 22.6 | 8.4 | 7.7 | 4.2 | 7.2 | 7.5 | 8.7 | 10.6 | 11.0 |
| Working capital | $2.19B | $2.07B | $1.63B | $1.43B | $1.19B | $1.19B | $1.19B | $1.19B | $1.46B | $1.27B |
| Invested capital | $5.09B | $4.89B | $5.58B | $5.63B | $5.05B | $4.68B | $4.49B | $4.16B | $4.15B | $4.00B |
| Tangible asset value | $2.17B | $2.63B | $2.35B | $1.96B | $1.88B | $1.73B | $1.53B | $1.16B | $1.62B | $1.31B |
| Net current asset value | −$26.0M | −$199.0M | −$593.0M | −$990.0M | −$1.08B | −$1.14B | −$1.11B | −$1.18B | −$748.0M | −$935.0M |
| Graham number | $129.38 | $112.61 | $107.61 | $88.76 | $42.38 | $71.47 | $75.02 | $67.95 | $79.05 | $71.39 |
| Graham net-net per share | −$17.16 | −$17.01 | −$28.34 | −$32.88 | −$29.62 | −$28.17 | −$27.25 | −$25.92 | −$19.41 | −$21.38 |
| Capital allocation | ||||||||||
| Dividends paid | $211.0M | $210.0M | $194.0M | $181.0M | $184.0M | $178.0M | $174.0M | $173.0M | $165.0M | $141.0M |
| Share buybacks (net) | $224.0M | $216.0M | $101.0M | $103.0M | $49.0M | $4.0M | $0 | $657.0M | $123.0M | $8.0M |
| Dividend payout ratio | 28.9% | 32.5% | 30.2% | 36.8% | 157.3% | 51.1% | 42.1% | 39.1% | 31.8% | 29.1% |
| Dividends + buybacks / free cash flow | 85.1% | 37.5% | 39.8% | — | 253.3% | 36.7% | 49.4% | 234.5% | 62.2% | 30.5% |
| Capex / revenue | 6.0% | 4.1% | 3.9% | 3.8% | 4.4% | 5.6% | 5.3% | 5.5% | 5.0% | 4.7% |
| Capex / operating cash flow | 45.9% | 21.0% | 29.9% | 197.4% | 76.5% | 40.2% | 48.2% | 49.6% | 39.8% | 36.7% |
| Capex / depreciation | 1.95 | 1.41 | 1.44 | 1.40 | 1.36 | 1.56 | 1.49 | 1.41 | 1.46 | 1.44 |
| Stock-based compensation / revenue | — | 0.6% | 0.2% | 0.4% | 4.9% | 0.1% | 0.0% | 0.3% | 0.4% | 0.5% |
| R&D / revenue | — | 0.9% | 0.8% | 0.7% | 0.6% | 0.7% | 0.7% | 0.7% | 0.7% | 0.7% |
| SG&A / revenue | — | — | — | — | — | — | 9.8% | 9.7% | 9.9% | 9.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 53.4 | 58.3 | 60.2 | 58.4 | 56.7 | 60.6 | 56.7 | 55.5 | 55.6 | 51.5 |
| Days of inventory on hand | 81.7 | 85.3 | 86.7 | 78.3 | 68.5 | 68.8 | 62.8 | 61.1 | 61.6 | 58.6 |
| Days payables outstanding | 63.4 | 44.7 | 47.0 | 46.6 | 45.0 | 42.7 | 35.6 | 35.0 | 35.7 | 33.6 |
| Cash conversion cycle (days) | 71.8 | 98.9 | 99.9 | 90.1 | 80.2 | 86.7 | 83.8 | 81.5 | 81.6 | 76.5 |
| Receivables turnover | 6.83 | 6.26 | 6.07 | 6.25 | 6.44 | 6.02 | 6.44 | 6.58 | 6.56 | 7.09 |
| Payables turnover | 5.76 | 8.16 | 7.77 | 7.83 | 8.10 | 8.55 | 10.24 | 10.41 | 10.23 | 10.85 |
| Inventory turnover | 4.47 | 4.28 | 4.21 | 4.66 | 5.33 | 5.30 | 5.81 | 5.98 | 5.92 | 6.22 |
| Asset turnover | 0.94 | 0.99 | 1.07 | 1.09 | 1.00 | 0.93 | 1.06 | 1.07 | 1.04 | 1.11 |
| Average receivables | $1.06B | $1.19B | $1.34B | $1.27B | $1.07B | $994.0M | $964.0M | $956.0M | $942.0M | $849.0M |
| Average payables | $936.0M | $691.0M | $825.5M | $823.5M | $686.5M | $551.5M | $478.0M | $472.5M | $466.5M | $431.5M |
| Average inventory | $1.21B | $1.32B | $1.52B | $1.38B | $1.04B | $889.0M | $842.5M | $823.5M | $806.0M | $752.0M |
| Intangibles / total assets | 27.7% | 17.0% | 17.1% | 17.2% | 19.3% | 19.6% | 20.5% | 21.8% | 21.3% | 22.2% |
Computed from INGR's annual financial statements (latest annual report filed February 17, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
INGR valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Ingredion traded at 9.9 times earnings, against a 10-year median of 15.0. Based on the latest twelve months, the trailing P/E is 10.7 and the forward P/E is 8.4. Ingredion earned a return on equity of 17.8% and a return on invested capital of 15.7% in fiscal 2025. It ended the year with $1.8 billion of debt and $1.0 billion in cash and short-term investments, net debt of $757.0 million. It returned $435.0 million to shareholders: $211.0 million in dividends and $224.0 million in share buybacks, 85% of free cash flow. The share count fell 12.0% from 74.1M to 65.2M over 9 years.
See the INGR income statement, the INGR chart for price history, or the INGR stock overview for the latest quote and news.
INGR key metrics FAQ
What is Ingredion's P/E ratio?
Ingredion's trailing P/E ratio is 10.7 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 8.4. At the end of fiscal 2025 it was 9.9, compared with a 10-year median of 15.0.
What is Ingredion's EV/EBITDA?
Ingredion's enterprise value was 6.4 times EBITDA at the end of fiscal 2025 (enterprise value $7.9 billion, EBITDA $1.2 billion); the current EV/EBITDA is 6.2.
What is Ingredion's return on equity?
Ingredion's return on equity (ROE) was 17.8% in fiscal 2025: net income of $729.0 million on average shareholders' equity of $4.1 billion.
What is Ingredion's ROIC?
Ingredion's return on invested capital was 15.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Ingredion have?
Ingredion had total debt of $1.8 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.41 and $757.0 million of net debt (0.61 times EBITDA).
What is Ingredion's dividend yield?
Ingredion's forward dividend yield is 3.39%. Ingredion paid $211.0 million in dividends in fiscal 2025 ($3.24 per share), a payout ratio of 28.9%.
Does Ingredion buy back its shares?
Yes. Ingredion spent $224.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −2.1% over the year, to 65.2M..
What is Ingredion's free cash flow yield?
Ingredion generated $511.0 million of free cash flow in fiscal 2025, a free cash flow yield of 7.1% on its market value at year-end ($7.2 billion).
What is Ingredion's current ratio?
Ingredion's current ratio was 2.66 at the end of fiscal 2025: current assets were 2.66 times current liabilities.