Ingredion (INGR)
Market Price (10/22/2025): $120.135 | Market Cap: $7.7 BilSector: Consumer Staples | Industry: Agricultural Products & Services
Ingredion (INGR)
Market Price (10/22/2025): $120.135Market Cap: $7.7 BilSector: Consumer StaplesIndustry: Agricultural Products & Services
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 2.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.9%, FCF Yield is 10% | Weak multi-year price returns2Y Excs Rtn is -19%, 3Y Excs Rtn is -30% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.2%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.3%, Rev Chg QQuarterly Revenue Change % is -2.4% |
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% | ||
Low stock price volatilityVol 12M is 25% |
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 2.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.9%, FCF Yield is 10% |
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% |
Low stock price volatilityVol 12M is 25% |
Weak multi-year price returns2Y Excs Rtn is -19%, 3Y Excs Rtn is -30% |
Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.2%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.3%, Rev Chg QQuarterly Revenue Change % is -2.4% |
Market Valuation & Key Metrics
INGR Stock
Return vs. Risk
Price Returns Compared
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
---|---|---|---|---|---|---|---|
Returns | |||||||
INGR Return | -13% | 26% | 4% | 14% | 29% | -10% | 54% |
Peers Return | 14% | 17% | -2% | 21% | 19% | -18% | 55% |
S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 15% | 106% |
Monthly Win Rates [3] | |||||||
INGR Win Rate | 42% | 67% | 42% | 58% | 50% | 22% | |
Peers Win Rate | 42% | 43% | 53% | 55% | 52% | 38% | |
S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 67% | |
Max Drawdowns [4] | |||||||
INGR Max Drawdown | -35% | -6% | -17% | -6% | -2% | -11% | |
Peers Max Drawdown | -35% | -4% | -16% | -14% | -11% | -23% | |
S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: PPC, POST, DAR, BRBR, AFRI. See INGR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/21/2025 (YTD)
How Low Can It Go
Event | INGR | S&P 500 |
---|---|---|
2022 Inflation Shock | ||
% Loss | -21.8% | -25.4% |
% Gain to Breakeven | 27.9% | 34.1% |
Time to Breakeven | 113 days | 464 days |
2020 Covid Pandemic | ||
% Loss | -38.3% | -33.9% |
% Gain to Breakeven | 62.0% | 51.3% |
Time to Breakeven | 600 days | 148 days |
2018 Correction | ||
% Loss | -49.8% | -19.8% |
% Gain to Breakeven | 99.4% | 24.7% |
Time to Breakeven | 1897 days | 120 days |
2008 Global Financial Crisis | ||
% Loss | -64.6% | -56.8% |
% Gain to Breakeven | 182.7% | 131.3% |
Time to Breakeven | 751 days | 1480 days |
Compare to PPC, POST, DAR, BRBR, AFRI
In The Past
Ingredion's stock fell -21.8% during the 2022 Inflation Shock from a high on 1/14/2022. A -21.8% loss requires a 27.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Latest Trefis Analyses
Trade Ideas
Select past ideas related to INGR. For more, see Trefis Trade Ideas.
Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
---|---|---|---|---|---|---|---|
09302025 | IPAR | Interparfums | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.5% | 0.5% | -6.0% |
09302025 | TAP | Molson Coors Beverage | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.0% | 3.0% | 0.0% |
07312025 | STZ | Constellation Brands | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -15.5% | -15.5% | -21.1% |
06302025 | SJM | JM Smucker | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 8.4% | 8.4% | 0.0% |
05312025 | BF-B | Brown-Forman | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -11.8% | -11.8% | -22.4% |
02292020 | INGR | Ingredion | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -2.0% | 11.9% | -27.0% |
12312018 | INGR | Ingredion | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -9.5% | 4.7% | -18.7% |
Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
---|---|---|---|---|---|---|---|
09302025 | IPAR | Interparfums | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.5% | 0.5% | -6.0% |
09302025 | TAP | Molson Coors Beverage | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.0% | 3.0% | 0.0% |
07312025 | STZ | Constellation Brands | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -15.5% | -15.5% | -21.1% |
06302025 | SJM | JM Smucker | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 8.4% | 8.4% | 0.0% |
05312025 | BF-B | Brown-Forman | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -11.8% | -11.8% | -22.4% |
02292020 | INGR | Ingredion | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -2.0% | 11.9% | -27.0% |
12312018 | INGR | Ingredion | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -9.5% | 4.7% | -18.7% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Ingredion
Financials
Median | |
---|---|
Name | |
Mkt Price | 35.63 |
Mkt Cap | 6.0 |
Rev LTM | 7,316 |
Op Inc LTM | 822 |
FCF LTM | 549 |
FCF 3Y Avg | 454 |
CFO LTM | 932 |
CFO 3Y Avg | 862 |
Growth & Margins
Median | |
---|---|
Name | |
Rev Chg LTM | 0.8% |
Rev Chg 3Y Avg | 4.6% |
Rev Chg Q | 1.9% |
QoQ Delta Rev Chg LTM | 0.5% |
Op Mgn LTM | 10.4% |
Op Mgn 3Y Avg | 9.7% |
QoQ Delta Op Mgn LTM | 0.2% |
CFO/Rev LTM | 11.8% |
CFO/Rev 3Y Avg | 11.3% |
FCF/Rev LTM | 7.7% |
FCF/Rev 3Y Avg | 7.1% |
Valuation
Median | |
---|---|
Name | |
Mkt Cap | 6.0 |
P/S | 0.8 |
P/EBIT | 7.9 |
P/E | 16.3 |
P/CFO | 6.4 |
Total Yield | 6.1% |
Dividend Yield | 0.0% |
FCF Yield 3Y Avg | 6.5% |
D/E | 0.4 |
Net D/E | 0.2 |
Returns
Median | |
---|---|
Name | |
1M Rtn | -4.4% |
3M Rtn | -12.6% |
6M Rtn | -7.1% |
12M Rtn | -11.7% |
3Y Rtn | 37.5% |
1M Excs Rtn | -2.5% |
3M Excs Rtn | -19.4% |
6M Excs Rtn | -34.4% |
12M Excs Rtn | -27.5% |
3Y Excs Rtn | -47.1% |
Comparison Analyses
Segment Financials
Revenue by Segment
$ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
Food & Industrial Ingredients (F&II) - Latin America (LATAM) | 2,668 | 2,628 | |||
Texture & Healthful Solutions (T&HS) | 2,566 | 2,527 | |||
Food & Industrial Ingredients (F&II)- United States(U.S.) /Canada | 2,429 | 2,303 | |||
All Other | 743 | 893 | |||
Corporate | 0 | 0 | |||
Intersegment sales | -246 | -405 | |||
Single Segment | 6,894 | 5,987 | 6,209 | ||
Total | 8,160 | 7,946 | 6,894 | 5,987 | 6,209 |
$ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
Food & Industrial Ingredients (F&II) - Latin America (LATAM) | 452 | 437 | |||
Texture & Healthful Solutions (T&HS) | 394 | 297 | |||
Food & Industrial Ingredients (F&II)- United States(U.S.) /Canada | 298 | 209 | |||
Acquisition/integration costs | 0 | -1 | |||
Other matters | -1 | -20 | |||
Restructuring and resegmentation costs | -1 | -4 | |||
All Other | -2 | -6 | |||
Impairment charge | -10 | 0 | |||
Corporate | -173 | -150 | |||
Total | 957 | 762 |
Returns Analyses
Earnings Returns History
Expand for MoreForward Returns | |||
---|---|---|---|
Earnings Date | 1D Returns | 5D Returns | 21D Returns |
8/1/2025 | -3.9% | -4.0% | -1.5% |
5/6/2025 | 3.6% | 2.7% | 2.7% |
2/4/2025 | -5.6% | -5.3% | -4.1% |
11/5/2024 | 15.5% | 11.7% | 11.5% |
8/6/2024 | 6.6% | 6.9% | 12.2% |
5/8/2024 | 1.6% | 1.3% | -0.3% |
2/6/2024 | -0.8% | -1.4% | 5.2% |
11/7/2023 | 6.5% | 6.9% | 10.6% |
... | |||
SUMMARY STATS | |||
# Positive | 13 | 14 | 12 |
# Negative | 11 | 10 | 12 |
Median Positive | 4.3% | 4.6% | 9.7% |
Median Negative | -3.3% | -3.7% | -3.6% |
Max Positive | 15.5% | 16.1% | 18.7% |
Max Negative | -13.2% | -10.0% | -12.7% |
SEC Filings
Expand for MoreReport Date | Filing Date | Filing |
---|---|---|
6302025 | 8112025 | 10-Q 6/30/2025 |
3312025 | 5092025 | 10-Q 3/31/2025 |
12312024 | 2202025 | 10-K 12/31/2024 |
9302024 | 11082024 | 10-Q 9/30/2024 |
6302024 | 8082024 | 10-Q 6/30/2024 |
3312024 | 5092024 | 10-Q 3/31/2024 |
12312023 | 2212024 | 10-K 12/31/2023 |
9302023 | 11072023 | 10-Q 9/30/2023 |
6302023 | 8082023 | 10-Q 6/30/2023 |
3312023 | 5082023 | 10-Q 3/31/2023 |
12312022 | 2212023 | 10-K 12/31/2022 |
9302022 | 11072022 | 10-Q 9/30/2022 |
6302022 | 8092022 | 10-Q 6/30/2022 |
3312022 | 5062022 | 10-Q 3/31/2022 |
12312021 | 2222022 | 10-K 12/31/2021 |
9302021 | 11052021 | 10-Q 9/30/2021 |
Insider Activity
Expand for MoreOwner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
---|---|---|---|---|---|---|---|---|---|
0 | Fernandes Larry | SVP, Chief Comm & Sust Officer | 8052025 | Sell | 128.39 | 850 | 109,131 | 4,002,025 | Form |
1 | Fernandes Larry | SVP, Chief Comm & Sust Officer | 5082025 | Sell | 135.61 | 2,040 | 276,644 | 4,387,758 | Form |
2 | Zallie James P. | President and CEO | 2202025 | Sell | 125.88 | 10,815 | 1,361,349 | 4,295,716 | Form |
3 | Zallie James P. | President and CEO | 2182025 | Sell | 126.91 | 39,329 | 4,991,047 | 6,695,199 | Form |
4 | Fernandes Larry | SVP, Chief Comm & Sust Officer | 11182024 | Sell | 140.66 | 6,122 | 861,165 | Form |
Industry Resources
Agricultural Products & Services Resources |
AgFunder Network Partners |
The Packer |
CropLife |
Agri-Pulse |
USDA Data |
External Quote Links
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