Ingredion Incorporated cash flow statement INGR

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, Ingredion Incorporated generated $944.0 million of cash from operations, down 34.3% from the year before. It spent $433.0 million on capital expenditures. That left free cash flow of $511.0 million. The company returned $211.0 million in dividends to shareholders.

USD in millions, except per-share amounts and ratios. The percent under a figure is the change from the year before.

Line	FY 2026 Jun 30, 2026	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2018 Dec 31, 2018	FY 2017 Dec 31, 2017	FY 2010 Dec 31, 2010
Operating
Depreciation and amortization	224 +4.2%	222 +3.7%	214 -2.3%	219 +1.9%	215 -2.3%	220 +3.3%	213 -3.2%	220 -10.9%	247 +18.2%	209 +6.6%	155
Operating cash flow	805 -31.6%	944 -34.3%	1,436 +35.9%	1,057 +595.4%	152 -61.2%	392 -52.7%	829 +21.9%	680 -3.3%	703 -8.6%	769	394
Investing
Capital expenditures	450 +22.3%	433 +46.8%	295 -6.1%	314 +4.7%	300 +0.0%	300 -11.8%	340 +3.7%	328 -6.3%	350 +11.5%	314 +10.6%	159
Investing cash flow	-343 +8.5%	-444 -844.7%	-47 +85.7%	-329 -2.8%	-320 +4.5%	-335 +41.3%	-571 -52.7%	-374 -3.6%	-361 -10.7%	-326	-1,428
Financing
Dividends paid	210 -0.9%	211 +0.5%	210 +8.2%	194 +7.2%	181 -1.6%	184 +3.4%	178 +2.3%	174 -4.4%	182 +10.3%	165 +17.0%	45
Stock buybacks	—	—	—	—	—	—	—	—	—	123 +1437.5%	5
Financing cash flow	-376 +17.4%	-491 +35.8%	-765 -34.4%	-569 -652.4%	103 +127.6%	-373 -360.8%	143 +139.3%	-364 +38.2%	-589 -57.1%	-375	1,155
Change in cash
Effect of exchange rate	1 -88.9%	24 +185.7%	-28 -566.7%	6 +122.2%	-27 -28.6%	-21 -320.0%	—	-5 +76.2%	-21	—	—
Net change in cash	87 -75.6%	33 -94.5%	596 +261.2%	165 +279.3%	-92 +72.7%	-337 -184.0%	401 +736.5%	-63 +76.5%	-268	—	—
Free cash flow	355 -56.1%	511 -55.2%	1,141 +53.6%	743 +602.0%	-148 -260.9%	92 -81.2%	489 +38.9%	352 -0.3%	353 -22.4%	455	235
Per share
Free cash flow per share	5.52 -55.0%	7.84 -54.3%	17.13 +54.5%	11.09 +602.0%	-2.21 -262.8%	1.36 -81.2%	7.23 +38.5%	5.22 +6.2%	4.92 -20.6%	6.19	3.06
Shareholder returns
Returned to shareholders	210	211	210	194	181	184	178	174	182	288	50
Share of free cash flow	59.15%	41.29%	18.40%	26.11%	—	200.00%	36.40%	49.43%	51.56%	63.30%	21.28%
Ratios
Free cash flow margin	4.92%	7.08%	15.36%	9.11%	-1.86%	1.33%	8.17%	5.67%	5.61%	—	5.38%
Capital expenditures to revenue	6.24%	6.00%	3.97%	3.85%	3.78%	4.35%	5.68%	5.28%	5.57%	—	3.64%
Cash conversion	1.36x	1.29x	2.22x	1.64x	0.31x	3.35x	2.38x	1.65x	1.59x	1.48x	2.33x

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and ratios. Capital expenditures, debt repaid, dividends, and buybacks are positive amounts. Investing and financing cash flow keep the filing sign, so an outflow is negative. Free cash flow is operating cash flow minus capital expenditures. The first column is the trailing twelve months through the latest quarter. Returned to shareholders is dividends plus buybacks. Free cash flow margin, capital expenditures, and stock-based compensation are divided by revenue. Cash conversion is operating cash flow divided by net income. More on our methodology.

Company profile

Industry: Grain Mill Products (SIC 2040)
Listed as: INGR (NYSE)
Fiscal year ends: December 31
Incorporated in: DE
Headquarters: Westchester, IL
SEC filer status: Large accelerated filer
SEC CIK: 1046257
Former names: CORN PRODUCTS INTERNATIONAL INC (until May 21, 2012)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.