INGREDION INCORPORATED
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.22B | $7.43B | $8.16B | $7.95B | $6.89B | $5.99B | $6.21B | $6.29B |
| Cost of Revenue | $5.39B | $5.64B | $6.41B | $6.45B | $5.56B | $4.72B | $4.90B | $4.92B |
| Gross Profit | $1.83B | $1.79B | $1.75B | $1.49B | $1.33B | $1.27B | $1.31B | $1.37B |
| Gross Margin | 25.3% | 24.1% | 21.4% | 18.8% | 19.3% | 21.2% | 21.1% | 21.8% |
| Operating Expenses | ||||||||
| Research & Development | $71.0M | $67.0M | $63.0M | $52.0M | $43.0M | $43.0M | $44.0M | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $1.02B | $883.0M | $957.0M | $762.0M | $310.0M | $582.0M | $664.0M | $703.0M |
| Operating Margin | 14.1% | 11.9% | 11.7% | 9.6% | 4.5% | 9.7% | 10.7% | 11.2% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $974.0M | $931.0M | $839.0M | $668.0M | $248.0M | $506.0M | $582.0M | $621.0M |
| Income Tax Expense | $238.0M | $277.0M | $188.0M | $166.0M | $123.0M | $152.0M | $158.0M | $167.0M |
| Net Income | $729.0M | $647.0M | $643.0M | $492.0M | $117.0M | $348.0M | $413.0M | $443.0M |
| Net Margin | 10.1% | 8.7% | 7.9% | 6.2% | 1.7% | 5.8% | 6.7% | 7.0% |
| EPS (Basic) | $11.36 | $9.88 | $9.74 | $7.43 | $1.74 | $5.18 | $6.17 | $6.25 |
| EPS (Diluted) | $11.18 | $9.71 | $9.60 | $7.34 | $1.73 | $5.15 | $6.13 | $6.17 |
| Shares Outstanding (Basic) | 64.2M | 65.5M | 66.0M | 66.2M | 67.1M | 67.2M | 66.9M | 70.9M |
| Shares Outstanding (Diluted) | 65.2M | 66.6M | 67.0M | 67.0M | 67.8M | 67.6M | 67.4M | 71.8M |
| Dividends Per Share | — | — | — | — | — | — | — | — |