Ingredion - Public Comps and Valuation Multiples

Ingredion Overview

About Ingredion

Ingredion is an ingredients provider for the food, beverage, brewing, and animal nutrition industries. The company processes corn, tapioca, potatoes, stevia, grains, fruits, gums, and vegetables into value-added ingredients. The company sells specialty ingredients that include starch-based texturizers and natural alternative sweeteners such as stevia. Ingredion also sells commodity ingredients that include sweeteners, such as high-fructose corn syrup, and starches, such as those used for sustainable packaging, as well as plant-based proteins.

Founded

1997

HQ

Employees

11.2K+

Website

ingredion.com

Sectors

Food & Beverages
Plant-Based Food
DeepTech
BioTech
HealthTech
FoodTech

Financials

LTM Revenue $7.3B

LTM EBITDA $1.3B

EV

$7.8B

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Ingredion Financials

As of November 2025, Ingredion reported last 12-month revenue of $7.3B and EBITDA of $1.3B.

In the same period, Ingredion generated $2.0B in LTM gross profit and $728M in net income.

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Ingredion P&L

In the most recent fiscal year, Ingredion reported revenue of $7.4B and EBITDA of $1.2B.

Ingredion expects next 12-month revenue of XXX and NTM EBITDA of XXX

See Ingredion valuation multiples based on analyst estimates

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$7.3B	XXX	$7.4B	XXX	XXX	XXX
Gross Profit	$2.0B	XXX	$1.8B	XXX	XXX	XXX
Gross Margin	27%	XXX	24%	XXX	XXX	XXX
EBITDA	$1.3B	XXX	$1.2B	XXX	XXX	XXX
EBITDA Margin	17%	XXX	16%	XXX	XXX	XXX
EBIT	$1.0B	XXX	$1.0B	XXX	XXX	XXX
EBIT Margin	14%	XXX	14%	XXX	XXX	XXX
Net Profit	$728M	XXX	$647M	XXX	XXX	XXX
Net Margin	10%	XXX	9%	XXX	XXX	XXX
Net Debt	XXX	XXX	$834M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Ingredion including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $7.3B. EBITDA for the last twelve months was $1.3B. In the most recent fiscal year, Ingredion achieved $7.4B in revenue and $1.2B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$7.3B	Analyst estimates available to subscribers	$7.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$2.0B	Analyst estimates available to subscribers	$1.8B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	27.4% gross margin	Analyst estimates available to subscribers	24.1% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$1.3B	Analyst estimates available to subscribers	$1.2B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	17.4% EBITDA margin	Analyst estimates available to subscribers	15.9% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$1.0B	Analyst estimates available to subscribers	$1.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	14.4% EBIT margin	Analyst estimates available to subscribers	13.6% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$728M	Analyst estimates available to subscribers	$647M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	10.0% net profit margin	Analyst estimates available to subscribers	8.7% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$834M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Ingredion

This financial data table provides comprehensive performance metrics for Ingredion, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Ingredion generated $7.3B in revenue over the last twelve months.
The company achieved $1.3B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $2.0B.
Net income over the last twelve months reached $728M.

Fiscal Year Performance

In the most recent fiscal year, Ingredion reported $7.4B in total revenue.
Fiscal year EBITDA was $1.2B.
The company maintained a gross profit margin of 24.1% in the most recent fiscal year.
EBITDA margin for the fiscal year was 15.9%.
Net profit margin reached 8.7% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Ingredion. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Ingredion Stock Performance

Ingredion has current market cap of $6.9B, and EV of $7.8B.

Market Cap Evolution

Ingredion Stock Data

As of December 4, 2025, Ingredion's stock price is $109.

See Ingredion trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$7.8B	$6.9B	XXX	XXX	XXX	XXX	$11.16

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Ingredion Valuation Multiples

Ingredion's trades at 1.0x EV/Revenue multiple, and 6.6x EV/EBITDA.

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Ingredion Financial Valuation Multiples

As of December 4, 2025, Ingredion has market cap of $6.9B and EV of $7.8B.

Equity research analysts estimate Ingredion's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Ingredion has a P/E ratio of 9.5x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$6.9B	XXX	$6.9B	XXX	XXX	XXX
EV (current)	$7.8B	XXX	$7.8B	XXX	XXX	XXX
EV/Revenue	1.1x	XXX	1.0x	XXX	XXX	XXX
EV/EBITDA	6.2x	XXX	6.6x	XXX	XXX	XXX
EV/EBIT	7.5x	XXX	7.7x	XXX	XXX	XXX
EV/Gross Profit	3.9x	XXX	n/a	XXX	XXX	XXX
P/E	9.5x	XXX	10.7x	XXX	XXX	XXX
EV/FCF	24.6x	XXX	6.9x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Ingredion Margins & Growth Rates

Ingredion's last 12 month revenue growth is 1%

Ingredion's revenue per employee in the last FY averaged $0.7M, while opex per employee averaged $0.1M for the same period.

Ingredion's rule of 40 is 16% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Ingredion's rule of X is 21% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Ingredion Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	1%	XXX	0%	XXX	XXX	XXX
EBITDA Margin	17%	XXX	16%	XXX	XXX	XXX
EBITDA Growth	3%	XXX	4%	XXX	XXX	XXX
Rule of 40	16%	XXX	17%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	21%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.7M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	11%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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