INGR
Ingredion Inc
Next earnings Jul 30, 2026 (before open) · consensus $2.82 EPS, $1.87B rev
$97.62
▲ +2.32%$97.62▼ -26.02%
over 1Y
L $95.41H $135.27
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+2.3%
1W+0.8%
1M-3.5%
3M-13.4%
YTD-10.4%
1Y-26.0%
Buy
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 14 analysts
Buy
Quality ingredients maker at a value price: EPS +15%, 17% ROE, expanding margins, modest leverage — 8.8x looks too cheap.
P/E (price / FY diluted EPS) 8.8 · FY2025 EPS
The read
Quality fundamentals and an attractive price line up (~82% below fair value) — the rarer case where both the business and the entry look good.
Ingredion is a well-run global ingredients company (starches, sweeteners, specialty texturizers and plant-based solutions) that has quietly improved its earnings quality while trading at a deep-value multiple. FY2025 net income grew 12.7% to $729M and operating income rose 15.1% to $1.02B even as revenue dipped 2.8% to $7.22B — the divergence reflects margin expansion (operating margin to 14.1%, gross margin 25.3%) as the company shifts mix toward higher-value specialty ingredients and passes through lower input costs. Diluted EPS grew 15.1% to $11.18, leaving the stock at just 8.8x earnings and 0.9x sales.
Returns and the balance sheet are solid. ROE reached 17.1%, equity grew 12.4% to $4.27B, retained earnings rose 10.2%, and leverage is modest at 0.83x liabilities/equity with $1.03B cash against $1.74B long-term debt. The earnings progression has been strong off the FY2021 trough ($117M) to $729M now. Capital return continues via the dividend ($211M) and buybacks (shares down 1.9%).
Is INGR a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBull call spread (wide)~60d expiry
- Long call 98 @ ~2.99 est
- Short call 112 @ ~0.11 est
debit $288max +$1,112max −$288BE 100.88
High-conviction BUY: a wider spread keeps more of the upside while the short call still cuts cost and decay.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $6.89B | $7.95B | $8.16B | $7.43B | $7.22B |
| Gross profit | $1.33B | $1.49B | $1.75B | $1.79B | $1.83B |
| Operating income | $310M | $762M | $957M | $883M | $1.02B |
| Net income | $117M | $492M | $643M | $647M | $729M |
| Diluted EPS | $1.73 | $7.34 | $9.60 | $9.71 | $11.18 |
| Net margin | 1.7% | 6.2% | 7.9% | 8.7% | 10.1% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$6.92B
EV / EBITDA5.6
EV / Sales1.0
EV / FCF13.5
P / FCF12.0
PEG (trailing)0.69
Earnings yield11.8%
FCF yield8.3%
Quality & risk
ROIC (est.)13.2%
Free cash flow$511M
Total debt$1.79B
Net cash-$760M
Altman Z-Score3.71 safe
Piotroski F-Score8/9
Capital returns
Buyback yield2.0%
Dividend yield (est.)3.4%
Shareholder yield5.4%
Shares Δ YoY-1.9%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗4Period ending 2026-07-012026-07-02open ↗3Period ending 2026-07-012026-07-02open ↗4Period ending 2026-06-302026-07-01open ↗4Period ending 2026-06-302026-07-01open ↗4Period ending 2026-06-302026-07-01open ↗8-KPeriod ending 2026-06-302026-06-30open ↗11-KPeriod ending 2025-12-312026-06-26open ↗11-KPeriod ending 2025-12-312026-06-26open ↗8-KPeriod ending 2026-06-242026-06-25open ↗4Period ending 2026-06-152026-06-16open ↗4Period ending 2026-06-152026-06-16open ↗8-KPeriod ending 2026-06-072026-06-11open ↗
Frequently asked
- Is Ingredion Inc (INGR) a buy?
- INGR currently carries a Buy rating with 4/5 conviction, derived from its latest SEC filings. Quality ingredients maker at a value price: EPS +15%, 17% ROE, expanding margins, modest leverage — 8.8x looks too cheap.
- What is INGR's fair value?
- A Modified-Graham model based on INGR's SEC fundamentals estimates a fair value of about $177.49. It is an estimate from reported earnings, not a price target.
- Is INGR overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, INGR currently appears undervalued relative to its SEC-grounded earnings power.
- What is Ingredion Inc's quality score?
- INGR scores 69.0575840373678/100 (grade B-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001046257, latest 10-Q filed 2026-05-08) · EODHD · Proprietary analysis · as of 6/21/2026, 8:55:43 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:55 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.