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:

2.33

Sell

Strong Buy

Reference Information - Earnings Per Share

Last Actual (FY0): 6.23
FY0 End Date: 12/1/20
Ind. Annual Div: 2.60
Hist (5 Yr) Growth %: -1.34
Yield (%): 2.80

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 8.29 8.48 8.13 8.25 3 2 -- 9.32
Annual Dec 22 7.40 7.53 7.23 7.43 6 4 1 3.33
Annual Dec 21 6.90 6.97 6.81 6.91 6 5 -- 3.20
Quarterly Mar 22 1.77 1.86 1.57 1.83 4 1 2 -0.81
Quarterly Jun 22 1.90 2.06 1.75 1.90 4 2 1 0.99
Quarterly Sep 22 1.88 1.91 1.84 1.88 4 2 -- 9.97
Quarterly Dec 21 1.34 1.40 1.30 1.33 5 1 3 -2.01
Long Term Growth 10.80 10.80 10.80 10.80 1 -- -- 0.00

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 Sep 21 1.67 1.45 15.49
Quarterly Jun 21 2.05 1.59 28.85
Quarterly Mar 21 1.85 1.62 14.07
Quarterly Dec 20 1.75 1.46 19.62

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 48.14 49.85 46.43 48.14 2 2 -- 13.62
Annual Dec 21 43.97 45.83 42.11 43.97 2 2 -- 6.88

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 23 5.35 5.35 5.35 5.35 1 -- -- --
Annual Dec 22 5.79 8.66 2.92 5.79 2 -- 2 -39.62
Annual Dec 21 3.67 6.80 0.54 3.67 2 1 1 -22.04
Quarterly Mar 22 2.08 2.08 2.08 2.08 1 -- 1 -45.43
Quarterly Jun 22 2.32 2.32 2.32 2.32 1 -- 1 -40.72
Quarterly Sep 22 2.13 2.13 2.13 2.13 1 -- 1 -40.96
Quarterly Dec 21 2.97 2.97 2.97 2.97 1 1 -- 89.36

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 Sep 21 1.92 5.46 -64.85
Quarterly Jun 21 1.58 4.79 -67.04
Quarterly Mar 21 0.33 3.73 -91.15
Quarterly Dec 20 3.97 3.47 14.31

Reference Information - Dividend Per Share

Last Actual (FY0): 2.54
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 2.65 2.72 2.56 2.68 3 -- -- 1.27
Annual Dec 22 2.64 2.79 2.56 2.63 5 -- -- -0.04
Annual Dec 21 2.90 3.98 2.56 2.69 5 1 1 9.92

Actuals - Dividend Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 20 2.54 2.59 -2.08
Annual Dec 19 2.58 2.37 8.86
Annual Dec 18 2.45 2.40 2.12

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 23 836.20 852.00 820.40 836.20 2 2 -- 5.95
Annual Dec 22 781.74 796.41 772.10 780.50 6 3 2 2.19
Annual Dec 21 716.24 726.53 692.00 720.20 6 3 2 0.50
Quarterly Mar 22 183.64 195.67 171.60 183.64 2 -- 2 -4.09
Quarterly Jun 22 196.50 204.50 188.50 196.50 2 1 1 -1.17
Quarterly Sep 22 195.47 198.20 192.74 195.47 2 1 -- 1.02
Quarterly Dec 21 148.31 154.53 144.00 146.40 3 1 2 -1.99

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 Sep 21 163.00 160.32 1.67
Quarterly Jun 21 208.00 172.77 20.39
Quarterly Mar 21 201.00 172.28 16.67
Quarterly Dec 20 186.00 160.97 15.55

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 1,081.06 1,112.00 1,034.19 1,097.00 3 2 -- 7.25
Annual Dec 22 1,008.26 1,032.00 983.60 1,011.21 6 3 2 1.93
Annual Dec 21 947.46 980.00 923.50 947.25 6 3 2 1.16
Quarterly Mar 22 234.94 246.48 223.40 234.94 2 -- 1 -2.89
Quarterly Jun 22 254.56 270.32 238.80 254.56 2 1 1 1.47
Quarterly Sep 22 252.48 252.86 252.10 252.48 2 2 -- 5.21
Quarterly Dec 21 202.17 219.00 188.00 199.50 3 -- 2 -6.43

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 Sep 21 215.00 221.03 -2.73
Quarterly Jun 21 259.00 230.70 12.27
Quarterly Mar 21 253.00 232.47 8.83
Quarterly Dec 20 241.00 215.17 12.00

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 8.25 8.25 8.25 8.25 1 1 -- 13.17
Annual Dec 22 7.26 7.53 6.76 7.38 4 2 1 3.01
Annual Dec 21 2.12 2.28 2.04 2.09 4 3 -- 7.20
Quarterly Mar 22 1.57 1.57 1.57 1.57 1 -- 1 -7.10
Quarterly Jun 22 1.75 1.75 1.75 1.75 1 -- 1 -1.69
Quarterly Sep 22 1.88 1.88 1.88 1.88 1 1 -- 4.44
Quarterly Dec 21 1.32 1.33 1.30 1.32 2 1 1 -1.50

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 Sep 21 1.75 1.57 11.46
Quarterly Jun 21 2.62 1.66 57.83
Quarterly Mar 21 -3.66 1.66 -320.48
Quarterly Dec 20 1.70 1.47 15.65

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 1,619.26 1,795.53 1,443.00 1,619.26 2 1 -- -4.80
Annual Dec 22 1,781.08 1,935.24 1,675.00 1,733.01 3 2 -- 5.72
Annual Dec 21 1,805.97 1,866.39 1,727.50 1,824.00 3 2 -- 5.55

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 23 543.25 558.00 528.50 543.25 2 2 -- 8.05
Annual Dec 22 499.35 509.00 492.20 494.58 5 3 2 2.75
Annual Dec 21 466.52 472.53 460.00 467.80 5 5 -- 3.03
Quarterly Mar 22 106.60 106.60 106.60 106.60 1 -- 1 -8.42
Quarterly Jun 22 119.00 119.00 119.00 119.00 1 -- 1 -2.70
Quarterly Sep 22 127.80 127.80 127.80 127.80 1 1 -- 2.90
Quarterly Dec 21 89.10 90.20 88.00 89.10 2 1 1 -2.14

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 Sep 21 113.00 106.55 6.05
Quarterly Jun 21 139.00 111.75 24.38
Quarterly Mar 21 126.00 111.85 12.65
Quarterly Dec 20 118.00 99.30 18.83

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 22 775.70 775.70 775.70 775.70 1 -- -- --

Actuals - Operating Profit

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

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 23 17.00 17.00 17.00 17.00 1 -- -- --
Annual Dec 22 15.80 16.70 15.00 15.71 3 -- -- -4.29
Annual Dec 21 8.63 15.48 5.10 5.30 3 -- -- -16.33

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 7,720.63 8,108.00 7,518.00 7,535.88 3 2 -- 5.41
Annual Dec 22 7,316.04 7,770.00 7,024.00 7,256.95 6 5 -- 4.09
Annual Dec 21 6,849.22 6,985.00 6,771.00 6,829.38 6 5 -- 0.95
Quarterly Mar 22 1,769.18 1,823.82 1,712.30 1,771.41 3 3 -- 6.85
Quarterly Jun 22 1,859.46 1,920.58 1,822.20 1,835.60 3 3 -- 4.38
Quarterly Sep 22 1,870.84 1,907.35 1,836.40 1,868.78 3 2 -- 7.71
Quarterly Dec 21 1,738.58 1,846.00 1,664.70 1,721.82 4 3 1 1.45

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 Sep 21 1,763.00 1,727.15 2.08
Quarterly Jun 21 1,762.00 1,737.07 1.44
Quarterly Mar 21 1,614.00 1,578.38 2.26
Quarterly Dec 20 1,593.00 1,568.94 1.53

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 Sep 22 -- -- -- -- -- -- -- --
Quarterly Jun 22 -- -- -- -- -- -- -- --
Quarterly Mar 22 -- -- -- -- -- -- -- --
Quarterly Dec 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 Sep 22 -- -- -- -- -- -- -- --
Quarterly Jun 22 -- -- -- -- -- -- -- --
Quarterly Mar 22 -- -- -- -- -- -- -- --
Quarterly Dec 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 Sep 22 -- -- -- -- -- -- -- --
Quarterly Jun 22 -- -- -- -- -- -- -- --
Quarterly Mar 22 -- -- -- -- -- -- -- --
Quarterly Dec 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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