Analyst Coverage

Firm Analyst
Barclays Capital Inc.
Benjamin Theurer
BMO Capital Markets
Ken Zaslow
Credit Suisse
Robert Moskow
Goldman Sachs
Adam Samuelson
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:

2.50

Sell

Strong Buy

Reference Information - Earnings Per Share

Last Actual (FY0): 6.67
FY0 End Date: 12/1/21
Ind. Annual Div: 2.60
Hist (5 Yr) Growth %: -23.40
Yield (%): 2.81

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 24 8.44 8.73 7.95 8.63 3 2 1 0.86
Annual Dec 23 7.73 8.11 7.31 7.77 6 3 3 -0.39
Annual Dec 22 7.13 7.25 6.98 7.17 6 5 1 1.34
Quarterly Mar 23 1.98 2.21 1.72 1.99 4 2 1 3.89
Quarterly Jun 22 1.93 1.97 1.90 1.94 5 5 -- 5.79
Quarterly Sep 22 1.73 1.85 1.57 1.74 5 1 4 -4.75
Quarterly Dec 22 1.50 1.60 1.37 1.56 5 1 4 -7.89
Long Term Growth 7.72 9.40 6.04 7.72 2 -- -- 0.00

Actuals - Earnings Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 21 6.67 6.85 -2.67
Annual Dec 20 6.23 5.95 4.68
Annual Dec 19 6.65 6.52 2.00
Quarterly Mar 22 1.95 1.81 7.89
Quarterly Dec 21 1.09 1.29 -15.48
Quarterly Sep 21 1.67 1.45 15.49
Quarterly Jun 21 2.05 1.59 28.85

Reference Information - Book Value Per Share

Last Actual (FY0): 46.51
FY0 End Date: 12/1/21
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 24 59.29 59.29 59.29 59.29 1 1 -- 4.30
Annual Dec 23 49.58 55.38 43.79 49.58 2 2 -- 2.93
Annual Dec 22 48.65 51.34 45.96 48.65 2 2 -- 2.89

Actuals - Book Value Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 21 46.51 43.92 5.89
Annual Dec 20 44.03 41.21 6.86
Annual Dec 19 40.71 42.68 -4.63

Reference Information - Cash Flow Per Share

Last Actual (FY0): 5.78
FY0 End Date: 12/1/21
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 24 18.90 18.90 18.90 18.90 1 1 -- 43.48
Annual Dec 23 6.67 10.11 3.24 6.67 2 1 1 2.35
Annual Dec 22 5.89 9.45 2.33 5.89 2 -- 2 -22.98
Quarterly Mar 23 2.80 2.80 2.80 2.80 1 1 -- 34.49
Quarterly Jun 22 6.95 6.95 6.95 6.95 1 1 -- 126.20
Quarterly Sep 22 1.82 1.82 1.82 1.82 1 -- 1 -42.24
Quarterly Dec 22 1.45 1.45 1.45 1.45 1 -- 1 -47.77

Actuals - Cash Flow Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 21 5.78 3.62 59.56
Annual Dec 20 12.33 7.57 62.94
Annual Dec 19 10.09 9.41 7.28
Quarterly Mar 22 0.76 3.12 -75.62
Quarterly Dec 21 1.97 2.87 -31.45
Quarterly Sep 21 1.92 5.46 -64.85
Quarterly Jun 21 1.58 4.79 -67.04

Reference Information - Dividend Per Share

Last Actual (FY0): 2.58
FY0 End Date: 12/1/21
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 24 2.07 2.80 0.68 2.74 3 -- -- --
Annual Dec 23 2.71 2.88 2.56 2.70 4 -- -- --
Annual Dec 22 2.64 2.80 2.56 2.62 5 -- 1 -0.15

Actuals - Dividend Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 21 2.58 2.90 -11.10
Annual Dec 20 2.54 2.59 -2.08
Annual Dec 19 2.58 2.37 8.86

Reference Information - EBIT

Last Actual (FY0): 685.00
FY0 End Date: 12/1/21
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 24 854.90 898.00 833.15 833.55 3 2 1 1.28
Annual Dec 23 807.03 853.00 775.03 805.03 6 4 2 1.28
Annual Dec 22 761.37 774.50 745.72 765.50 6 6 -- 4.16
Quarterly Mar 23 197.23 208.25 186.20 197.23 2 -- 1 0.99
Quarterly Jun 22 204.94 208.00 199.81 207.00 3 3 -- 6.20
Quarterly Sep 22 180.24 185.91 173.00 181.80 3 1 2 -2.97
Quarterly Dec 22 158.90 172.70 147.00 157.00 3 1 2 -4.64

Actuals - EBIT

Reported Mean Estimate Surprise % Change
Annual Dec 21 685.00 653.58 4.81
Annual Dec 20 659.00 632.05 4.26
Annual Dec 19 705.00 706.84 -0.26
Quarterly Mar 22 213.00 186.39 14.28
Quarterly Dec 21 113.00 146.99 -23.12
Quarterly Sep 21 163.00 160.32 1.67
Quarterly Jun 21 208.00 172.77 20.39

Reference Information - EBITDA

Last Actual (FY0): 905.00
FY0 End Date: 12/1/21
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 24 1,087.93 1,154.00 1,053.24 1,056.55 3 1 2 -0.59
Annual Dec 23 1,040.87 1,115.00 990.30 1,040.03 6 3 3 -0.59
Annual Dec 22 990.90 1,019.00 959.31 989.50 6 4 2 1.30
Quarterly Mar 23 259.62 280.65 238.60 259.62 2 1 1 0.09
Quarterly Jun 22 263.13 271.00 256.40 262.00 3 1 1 4.11
Quarterly Sep 22 241.85 249.00 234.70 241.85 2 -- 2 -3.80
Quarterly Dec 22 216.80 222.10 211.50 216.80 2 -- 1 -4.22

Actuals - EBITDA

Reported Mean Estimate Surprise % Change
Annual Dec 21 905.00 940.47 -3.77
Annual Dec 20 872.00 849.92 2.60
Annual Dec 19 925.00 930.60 -0.60
Quarterly Mar 22 266.00 247.73 7.37
Quarterly Dec 21 178.00 198.50 -10.33
Quarterly Sep 21 215.00 221.03 -2.73
Quarterly Jun 21 259.00 230.70 12.27

Reference Information - GAAP Earnings Per Share

Last Actual (FY0): 1.73
FY0 End Date: 12/1/21
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 24 7.95 7.95 7.95 7.95 1 1 -- 1.86
Annual Dec 23 7.58 7.77 7.31 7.62 4 2 2 -0.83
Annual Dec 22 6.92 7.40 6.15 7.07 4 2 1 0.25
Quarterly Mar 23 1.72 1.72 1.72 1.72 1 -- 1 -6.52
Quarterly Jun 22 1.92 1.94 1.90 1.92 2 2 -- 4.63
Quarterly Sep 22 1.64 1.70 1.57 1.64 2 -- 2 -8.91
Quarterly Dec 22 1.58 1.60 1.56 1.58 2 -- 2 -13.19

Actuals - GAAP Earnings Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 21 1.73 2.07 -16.22
Annual Dec 20 5.15 4.95 4.04
Annual Dec 19 6.13 6.00 2.20
Quarterly Mar 22 1.92 1.76 9.09
Quarterly Dec 21 0.99 1.26 -21.64
Quarterly Sep 21 1.75 1.57 11.46
Quarterly Jun 21 2.62 1.66 57.83

Reference Information - Net Debt

Last Actual (FY0): 1,714.00
FY0 End Date: 12/1/21
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 24 1,444.95 2,026.56 888.30 1,420.00 3 2 1 -6.60
Annual Dec 23 1,706.71 2,079.69 1,474.00 1,566.45 3 2 1 0.11
Annual Dec 22 1,798.89 2,077.03 1,651.63 1,668.00 3 2 1 2.96

Actuals - Net Debt

Reported Mean Estimate Surprise % Change
Annual Dec 21 1,714.00 1,813.23 -5.47
Annual Dec 20 1,521.00 1,735.03 -12.34
Annual Dec 19 1,580.00 1,712.14 -7.72

Reference Information - Net Income

Last Actual (FY0): 452.00
FY0 End Date: 12/1/21
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 24 541.62 542.91 540.33 541.62 2 2 -- 3.06
Annual Dec 23 516.97 548.00 494.30 516.48 5 3 2 0.16
Annual Dec 22 479.57 487.00 469.96 482.81 5 4 1 1.14
Quarterly Mar 23 116.20 116.20 116.20 116.20 1 -- 1 -6.37
Quarterly Jun 22 129.95 130.90 129.00 129.95 2 2 -- 4.71
Quarterly Sep 22 110.40 114.80 106.00 110.40 2 -- 2 -8.99
Quarterly Dec 22 107.15 108.30 106.00 107.15 2 -- 2 -12.60

Actuals - Net Income

Reported Mean Estimate Surprise % Change
Annual Dec 21 452.00 464.75 -2.74
Annual Dec 20 422.00 402.69 4.79
Annual Dec 19 448.00 440.17 1.78
Quarterly Mar 22 132.00 118.25 11.63
Quarterly Dec 21 74.00 89.10 -16.95
Quarterly Sep 21 113.00 106.55 6.05
Quarterly Jun 21 139.00 111.75 24.38

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
Annual Dec 23 821.00 821.00 821.00 821.00 1 -- -- --
Annual Dec 22 767.00 767.00 767.00 767.00 1 1 -- 1.07

Actuals - Operating Profit

Reported Mean Estimate Surprise % Change

Reference Information - Return On Equity

Last Actual (FY0): 14.94
FY0 End Date: 12/1/21
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 24 14.40 14.90 13.90 14.40 2 -- -- -2.50
Annual Dec 23 14.54 14.70 14.32 14.60 3 -- -- -1.41
Annual Dec 22 14.25 15.10 12.90 14.74 3 -- -- 1.54

Actuals - Return On Equity

Reported Mean Estimate Surprise % Change
Annual Dec 21 14.94 8.43 6.51
Annual Dec 20 14.88 13.80 1.08
Annual Dec 19 17.54 17.02 0.52

Reference Information - Sales

Last Actual (FY0): 6,894.00
FY0 End Date: 12/1/21
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 24 8,308.01 8,517.45 8,137.58 8,269.00 3 3 -- 1.51
Annual Dec 23 8,110.78 8,480.00 7,804.00 8,025.60 6 6 -- 2.74
Annual Dec 22 7,677.16 7,745.65 7,501.00 7,700.67 6 5 1 1.77
Quarterly Mar 23 1,998.98 2,041.77 1,948.76 2,006.40 3 2 -- 9.99
Quarterly Jun 22 1,906.80 1,937.00 1,878.74 1,905.74 4 3 -- 1.48
Quarterly Sep 22 1,969.68 2,069.35 1,926.00 1,941.69 4 2 1 0.37
Quarterly Dec 22 1,952.23 1,981.00 1,905.55 1,961.19 4 2 1 0.22

Actuals - Sales

Reported Mean Estimate Surprise % Change
Annual Dec 21 6,894.00 6,846.48 0.69
Annual Dec 20 5,987.00 5,955.45 0.53
Annual Dec 19 6,209.00 5,748.58 8.01
Quarterly Mar 22 1,892.00 1,774.55 6.62
Quarterly Dec 21 1,755.00 1,722.58 1.88
Quarterly Sep 21 1,763.00 1,727.15 2.08
Quarterly Jun 21 1,762.00 1,737.07 1.44

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 24 -- -- -- -- -- -- -- --
Annual Dec 23 -- -- -- -- -- -- -- --
Annual Dec 22 -- -- -- -- -- -- -- --
Quarterly Mar 23 -- -- -- -- -- -- -- --
Quarterly Dec 22 -- -- -- -- -- -- -- --
Quarterly Sep 22 -- -- -- -- -- -- -- --
Quarterly Jun 22 -- -- -- -- -- -- -- --

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 24 -- -- -- -- -- -- -- --
Annual Dec 23 -- -- -- -- -- -- -- --
Annual Dec 22 -- -- -- -- -- -- -- --
Quarterly Mar 23 -- -- -- -- -- -- -- --
Quarterly Dec 22 -- -- -- -- -- -- -- --
Quarterly Sep 22 -- -- -- -- -- -- -- --
Quarterly Jun 22 -- -- -- -- -- -- -- --

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 24 -- -- -- -- -- -- -- --
Annual Dec 23 -- -- -- -- -- -- -- --
Annual Dec 22 -- -- -- -- -- -- -- --
Quarterly Mar 23 -- -- -- -- -- -- -- --
Quarterly Dec 22 -- -- -- -- -- -- -- --
Quarterly Sep 22 -- -- -- -- -- -- -- --
Quarterly Jun 22 -- -- -- -- -- -- -- --

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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