Analyst Coverage

Firm Analyst
BMO Capital Markets
Ken Zaslow
Credit Suisse
Robert Moskow
Goldman Sachs
Adam Samuelson
Joh. Berenberg, Gossler & Co.
Donald McLee
Morningstar
Seth Goldstein
Stephens Inc.
Ben Bienvenu

Ingredion Incorporated is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding Ingredion Incorporated's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Ingredion Incorporated or its management. Ingredion Incorporated does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

First Call Estimates

Information on this page has been provided by First Call for information purposes only and has not been verified by Ingredion Incorporated or its management.

Mean Recommendation:

2.40

Sell

Strong Buy

Reference Information - Earnings Per Share

Last Actual (FY0): 6.23
FY0 End Date: 12/1/20
Ind. Annual Div: 2.56
Hist (5 Yr) Growth %: -1.34
Yield (%): 2.76

Analyst Forecasts - Earnings Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 7.40 7.86 7.09 7.25 3 1 -- 1.00
Annual Dec 22 7.15 8.15 6.75 6.97 6 1 -- 0.52
Annual Dec 21 6.67 6.98 6.43 6.70 6 3 -- 1.04
Quarterly Mar 21 1.62 1.67 1.51 1.64 5 1 1 0.50
Quarterly Jun 21 1.45 1.63 1.28 1.45 5 1 -- 0.58
Quarterly Sep 21 1.74 1.80 1.65 1.78 5 2 -- 2.02
Quarterly Dec 21 1.81 2.00 1.65 1.77 5 1 -- 1.92

Actuals - Earnings Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 20 6.23 5.95 4.68
Annual Dec 19 6.65 6.52 2.00
Annual Dec 18 6.92 6.88 0.62
Quarterly Dec 20 1.75 1.46 19.62
Quarterly Sep 20 1.77 1.45 22.02
Quarterly Jun 20 1.12 1.35 -16.98
Quarterly Mar 20 1.59 1.52 4.77

Reference Information - Book Value Per Share

Last Actual (FY0): 44.03
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Book Value Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 22 45.11 49.67 40.54 45.11 2 1 -- 0.08
Annual Dec 21 42.68 43.24 42.12 42.68 2 1 -- 0.09

Actuals - Book Value Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 20 44.03 41.21 6.86
Annual Dec 19 40.71 42.68 -4.63
Annual Dec 18 36.20 43.32 -16.44

Reference Information - Cash Flow Per Share

Last Actual (FY0): 12.33
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Cash Flow Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 22 7.69 12.35 3.03 7.69 2 1 -- 26.10
Annual Dec 21 5.81 10.69 0.92 5.81 2 -- 1 -4.17
Quarterly Mar 21 3.73 3.73 3.73 3.73 1 1 -- 8.40
Quarterly Jun 21 2.27 2.27 2.27 2.27 1 -- 1 -9.80
Quarterly Sep 21 2.29 2.29 2.29 2.29 1 -- 1 -10.11
Quarterly Dec 21 2.40 2.40 2.40 2.40 1 -- 1 -10.76

Actuals - Cash Flow Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 20 12.33 7.57 62.94
Annual Dec 19 10.09 9.41 7.28
Annual Dec 18 9.79 10.65 -8.06
Quarterly Dec 20 3.97 3.47 14.31
Quarterly Sep 20 3.96 2.71 45.96
Quarterly Jun 20 3.39 3.35 1.32
Quarterly Mar 20 0.96 3.17 -69.70

Reference Information - Dividend Per Share

Last Actual (FY0): --
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Dividend Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 2.61 2.72 2.56 2.56 3 -- -- --
Annual Dec 22 2.63 2.79 2.56 2.63 5 -- -- --
Annual Dec 21 2.60 2.71 2.54 2.56 5 -- -- --
Quarterly Mar 21 0.64 0.64 0.64 0.64 1 -- -- --
Quarterly Jun 21 0.64 0.64 0.64 0.64 1 -- -- --
Quarterly Sep 21 0.64 0.64 0.64 0.64 1 -- -- --
Quarterly Dec 21 0.64 0.64 0.64 0.64 1 -- -- --

Actuals - Dividend Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 19 2.58 2.37 8.86
Annual Dec 18 2.45 2.40 2.12
Quarterly Dec 20 0.64 0.64 --
Quarterly Sep 20 0.63 0.69 -8.70
Quarterly Jun 20 0.63 0.63 --

Reference Information - EBIT

Last Actual (FY0): 659.00
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - EBIT

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 749.90 756.51 744.20 749.00 3 1 -- 0.35
Annual Dec 22 743.93 846.00 716.23 722.95 6 1 -- 0.19
Annual Dec 21 704.82 722.00 686.00 706.51 6 3 -- 0.78
Quarterly Mar 21 176.00 177.00 175.00 176.00 2 1 -- 1.44
Quarterly Jun 21 156.00 158.00 154.00 156.00 2 -- -- --
Quarterly Sep 21 181.00 187.00 175.00 181.00 2 -- -- --
Quarterly Dec 21 182.00 185.00 179.00 182.00 2 -- -- --

Actuals - EBIT

Reported Mean Estimate Surprise % Change
Annual Dec 20 659.00 632.05 4.26
Annual Dec 19 705.00 706.84 -0.26
Annual Dec 18 767.00 777.80 -1.39
Quarterly Dec 20 186.00 160.97 15.55
Quarterly Sep 20 179.00 161.00 11.18
Quarterly Jun 20 127.00 145.87 -12.93
Quarterly Mar 20 167.00 160.57 4.01

Reference Information - EBITDA

Last Actual (FY0): 872.00
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - EBITDA

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 987.22 994.00 978.67 989.00 3 1 -- 0.26
Annual Dec 22 977.49 1,085.00 935.10 960.31 6 1 -- 0.14
Annual Dec 21 934.12 963.00 919.00 930.05 6 3 -- 0.59
Quarterly Mar 21 232.47 234.80 230.00 232.60 3 1 -- 0.72
Quarterly Jun 21 212.33 232.00 195.00 210.00 3 1 -- 0.63
Quarterly Sep 21 240.60 245.80 234.00 242.00 3 1 -- 0.42
Quarterly Dec 21 246.90 257.40 241.00 242.30 3 -- -- --

Actuals - EBITDA

Reported Mean Estimate Surprise % Change
Annual Dec 20 872.00 849.92 2.60
Annual Dec 19 925.00 930.60 -0.60
Annual Dec 18 984.00 1,006.62 -2.25
Quarterly Dec 20 241.00 215.17 12.00
Quarterly Sep 20 231.00 213.08 8.41
Quarterly Jun 20 179.00 203.52 -12.05
Quarterly Mar 20 221.00 220.43 0.26

Reference Information - GAAP Earnings Per Share

Last Actual (FY0): 5.15
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - GAAP Earnings Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 7.17 7.25 7.09 7.17 2 -- -- --
Annual Dec 22 7.03 7.61 6.75 6.96 5 -- -- --
Annual Dec 21 6.53 6.70 6.28 6.56 4 1 -- 0.19
Quarterly Mar 21 1.66 1.67 1.64 1.67 3 1 -- 1.22
Quarterly Jun 21 1.40 1.47 1.28 1.45 3 -- -- --
Quarterly Sep 21 1.75 1.80 1.66 1.80 3 -- -- --
Quarterly Dec 21 1.79 1.96 1.65 1.77 3 -- -- --

Actuals - GAAP Earnings Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 20 5.15 4.95 4.04
Annual Dec 19 6.13 6.00 2.20
Annual Dec 18 6.17 6.48 -4.73
Quarterly Dec 20 1.70 1.47 15.65
Quarterly Sep 20 1.36 1.44 -5.34
Quarterly Jun 20 0.98 1.40 -29.83
Quarterly Mar 20 1.11 1.48 -25.00

Reference Information - Net Debt

Last Actual (FY0): 1,521.00
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Net Debt

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 1,872.97 1,872.97 1,872.97 1,872.97 1 1 -- 7.37
Annual Dec 22 1,681.10 2,000.39 1,334.00 1,708.92 3 1 1 -1.03
Annual Dec 21 1,768.34 1,966.06 1,649.97 1,689.00 3 2 -- 3.34

Actuals - Net Debt

Reported Mean Estimate Surprise % Change
Annual Dec 20 1,521.00 1,735.03 -12.34
Annual Dec 19 1,580.00 1,712.14 -7.72
Annual Dec 18 1,766.00 1,461.57 20.83

Reference Information - Net Income

Last Actual (FY0): 422.00
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Net Income

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 480.48 481.85 479.00 480.60 3 1 -- 0.40
Annual Dec 22 477.71 551.00 452.45 467.90 6 1 -- 0.21
Annual Dec 21 450.79 472.00 435.00 450.06 6 3 -- 0.90
Quarterly Mar 21 111.85 112.70 111.00 111.85 2 1 -- 1.64
Quarterly Jun 21 98.45 99.00 97.90 98.45 2 -- -- --
Quarterly Sep 21 116.85 121.70 112.00 116.85 2 -- -- --
Quarterly Dec 21 115.95 119.90 112.00 115.95 2 -- -- --

Actuals - Net Income

Reported Mean Estimate Surprise % Change
Annual Dec 20 422.00 402.69 4.79
Annual Dec 19 448.00 440.17 1.78
Annual Dec 18 497.00 495.07 0.39
Quarterly Dec 20 118.00 99.30 18.83
Quarterly Sep 20 120.00 96.80 23.97
Quarterly Jun 20 76.00 90.93 -16.42
Quarterly Mar 20 108.00 99.97 8.04

Reference Information - Operating Profit

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Operating Profit

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Quarterly Mar 21 175.30 175.30 175.30 175.30 1 -- -- --
Quarterly Jun 21 137.10 137.10 137.10 137.10 1 -- -- --
Quarterly Sep 21 183.40 183.40 183.40 183.40 1 -- -- --
Quarterly Dec 21 198.10 198.10 198.10 198.10 1 -- -- --

Actuals - Operating Profit

Reported Mean Estimate Surprise % Change

Reference Information - Return On Equity

Last Actual (FY0): 14.88
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Return On Equity

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 22 15.94 16.57 15.30 15.94 2 -- -- -0.09
Annual Dec 21 14.55 15.29 13.80 14.55 2 -- -- 0.56

Actuals - Return On Equity

Reported Mean Estimate Surprise % Change
Annual Dec 20 14.88 13.80 1.08
Annual Dec 19 17.54 17.02 0.52
Annual Dec 18 18.83 16.79 2.04

Reference Information - Sales

Last Actual (FY0): 5,987.00
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Sales

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 6,820.03 6,942.60 6,743.00 6,774.50 3 -- 1 -0.31
Annual Dec 22 6,517.02 6,603.25 6,263.29 6,564.00 6 1 1 -0.12
Annual Dec 21 6,339.36 6,488.00 6,170.73 6,370.73 6 -- 2 -0.07
Quarterly Mar 21 1,578.38 1,589.38 1,570.73 1,574.30 5 -- 2 -0.16
Quarterly Jun 21 1,539.82 1,603.20 1,488.74 1,517.80 5 -- 2 -0.15
Quarterly Sep 21 1,596.45 1,652.70 1,513.20 1,618.00 5 1 1 -0.06
Quarterly Dec 21 1,651.22 1,720.00 1,598.06 1,648.60 5 1 1 0.02

Actuals - Sales

Reported Mean Estimate Surprise % Change
Annual Dec 20 5,987.00 5,955.45 0.53
Annual Dec 19 6,209.00 5,748.58 8.01
Annual Dec 18 5,841.00 5,842.45 -0.02
Quarterly Dec 20 1,593.00 1,568.94 1.53
Quarterly Sep 20 1,502.00 1,469.51 2.21
Quarterly Jun 20 1,349.00 1,372.90 -1.74
Quarterly Mar 20 1,543.00 1,480.28 4.24

Reference Information - Earnings Per Share (Parent)

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Earnings Per Share (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 -- -- -- -- -- -- -- --
Annual Dec 22 -- -- -- -- -- -- -- --
Annual Dec 21 -- -- -- -- -- -- -- --
Quarterly Dec 21 -- -- -- -- -- -- -- --
Quarterly Sep 21 -- -- -- -- -- -- -- --
Quarterly Jun 21 -- -- -- -- -- -- -- --
Quarterly Mar 21 -- -- -- -- -- -- -- --

Actuals - Earnings Per Share (Parent)

Reported Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

Reference Information - Net Income (Parent)

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Net Income (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 -- -- -- -- -- -- -- --
Annual Dec 22 -- -- -- -- -- -- -- --
Annual Dec 21 -- -- -- -- -- -- -- --
Quarterly Dec 21 -- -- -- -- -- -- -- --
Quarterly Sep 21 -- -- -- -- -- -- -- --
Quarterly Jun 21 -- -- -- -- -- -- -- --
Quarterly Mar 21 -- -- -- -- -- -- -- --

Actuals - Net Income (Parent)

Reported Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

Reference Information - Operating Profit (Parent)

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Operating Profit (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 -- -- -- -- -- -- -- --
Annual Dec 22 -- -- -- -- -- -- -- --
Annual Dec 21 -- -- -- -- -- -- -- --
Quarterly Dec 21 -- -- -- -- -- -- -- --
Quarterly Sep 21 -- -- -- -- -- -- -- --
Quarterly Jun 21 -- -- -- -- -- -- -- --
Quarterly Mar 21 -- -- -- -- -- -- -- --

Actuals - Operating Profit (Parent)

Reported Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

Reference Information - Sales (Parent)

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Sales (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change

Actuals - Sales (Parent)

Reported Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

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