Ingredion Incorporated (INGR) Fair Value & Analysis
Consumer Defensive · US · Market cap $6.3B · ISIN US4571871023
What is Ingredion Incorporated really worth?
Ingredion Incorporated
INGR · US
A solid business, trading 40% below our fair value of $169.58.
Strengths
Risks
For context
Fair value as of: Sep 3, 2026
From 25 valuation models · updated yesterday
Share price −2.8% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price is below even our cautious bear case ($104.64). The market is more pessimistic than our downside scenario.
- Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range ($104.64 to $253.42) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 3, 2026.
How to read this chart
60‑month range $70.63 – $147.62 · fair‑value band $104.64 – $253.42 · the $101.68 price screens below the $169.58 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 3, 2026.
Analysis
Ingredion Incorporated (INGR) currently trades at $101.68, while our model-based Fair Value estimate is $169.58, implying the stock looks roughly 40.0% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Consumer Defensive sector. Bull case: the Multiples group reads highest at a median of $196.53 per share, and 20 of the 25 models we run sit above the $101.68 price. Bear case: the Dividend Discount group reads lowest at $42.32, and 5 of the 25 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Ingredion Incorporated generated revenue of $7.2B at a net margin of 9.4%. Revenue declined 1.2% year over year. It earns a return on equity of 16.2%. Net debt stands at $760M. Fundamentals as of Sep 3, 2026
Our scenario range runs from $104.64 (bear case) to $253.42 (bull case); at $101.68, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 26% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −27% fair-value upside, at 67%, INGR screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $4.83 per share, which is 2.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 25 models by family
Widest divergence: Multiples ($196.53) versus Dividend Discount ($42.32). Highest evidence: FCF DCF (78).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 64 · Market factors (momentum, volatility) 46
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Ingredion Incorporated, together with its subsidiaries, engages in the manufacture and sale of sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries worldwide.
Full company description
Ingredion Incorporated, together with its subsidiaries, engages in the manufacture and sale of sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries worldwide. The company operates in Texture & Healthful Solutions; Food & Industrial Ingredients"LATAM; and Food & Industrial Ingredients"U.S./CANADA segments. It offers starch products for use in a range of processed foods; cornstarch; specialty paper starches for enhanced drainage, fiber retention, oil and grease resistance, improved printability, and biochemical oxygen demand control; starches and specialty starches for textile industry; industrial starches are used in the production of construction materials, textiles, adhesives, pharmaceuticals, and cosmetics, as well as in mining and water filtration; and specialty industrial starches for use in biomaterial applications, including biodegradable plastics, fabric softeners and detergents, hair and skin care applications, dusting powders for surgical gloves, and in the production of glass fiber and insulation. The company provides sweetener products comprising glucose syrups, high maltose syrup, high fructose corn syrup, dextrose, polyols, maltodextrin, glucose syrup solids, and non-genetically modified organism syrups for applications in food and beverage products, such as baked goods, snack foods, canned fruits, condiments, candy and other sweets, dairy products, ice cream, jams and jellies, prepared mixes, table syrups, and beverages. In addition, the company sells refined corn oil, corn gluten feed, and corn gluten meal; and other products. The company was formerly known as Corn Products International, Inc. and changed its name to Ingredion Incorporated in June 2012. Ingredion Incorporated was founded in 1906 and is headquartered in Westchester, Illinois.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Ingredion Incorporated reported revenue of $7.2B in FY2025 versus $6.9B in FY2021, a compound +1.2%/yr. Reported net income was $729M in FY2025, compounding +58.0%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
of which total revenue +2.7 % · buybacks/dilution +1.2 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Ingredion appoints Diego Reynoso as CFO
- Diego Reynoso to join Ingredion as Chief Financial Officer
- 5 Revealing Analyst Questions From Ingredion’s Q2 Earnings Call
Peer Group
Packaged Foods · 648 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Packaged Foods median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 44/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Nestlé S.A NESN | CHF 78.62 | CHF 57.26 | −27% |
| Danone S.A BN | €64.28 | €48.41 | −25% |
| Nestlé India Limited NESTLEIND | ₹1,478 | ₹251.94 | −83% |
| The Kraft Heinz Company KHC | $25.13 | $24.59 | −2% |
| Foshan Haitian Flavouring and Food Company 603288 | ¥35.05 | ¥21.93 | −37% |
| Inner Mongolia Yili Industrial Group 600887 | ¥25.51 | ¥32.50 | +27% |
| Yihai Kerry Arawana Holdings 300999 | ¥25.28 | ¥9.89 | −61% |
| General Mills, Inc GIS | $40.44 | $28.32 | −30% |
| Wilmar International Limited F34 | 3.64 SGD | 3.89 SGD | +7% |
| Britannia Industries Limited BRITANNIA | ₹5,511 | ₹1,765 | −68% |
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