Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Ingredion Inc.INGR · consumer nondurables | |
|---|---|
| Grade |  B/Con the B/C boundary of 124 graded peers; percentile 36.6, sampling error 3.8 points; lower is stronger |
| Rank | 46 of 124 |
| Profitability | C/Dpercentile 61.7 |
| Solvency | A/Bpercentile 22.5 |
| Growth and financing | B/Cpercentile 42.0 |
| Reliability | 0.94 AUCfailure model, filers with over $2.67B assets; 95% interval 0.88 to 0.97; 61 events, 2020 to 2025 |
| Peer failure rate | 0.52% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | over $2.67B assetstotal assets $7.9B[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: distress |
| Inputs computable | 9 of 14 |
| Graded from | filings received through Feb 17, 2026234 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $95.112026-10-08; market equity $6.0B; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Feb 17, 2026; the document on sec.gov.
Ingredion Incorporated (together with its consolidated subsidiaries, the “Company,” “Ingredion,” “we,” “us,” and “our”) is a leading global ingredient solutions provider that transforms grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. Our purpose is to bring the potential of people, nature and technology together to make life better. We develop, produce and sell a variety of food and beverage ingredients, primarily starches and sweeteners, for a broad range of customers in over 60 industries worldwide.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 61.7 | |||||||
| Gross profitability | 23.1% | [1,3] | 29.8% | 54.5 | 146 | 2025-12-31 | |
| Return on invested capital | not computable | 5.6% | |||||
| latest aligned inputs end 2019-12-31; latest annual assets end 2025-12-31 | |||||||
| Accruals ratio | (2.8%) | [1,4-6] | (5.0%) | 67.1 | 153 | 2025-12-31 | |
| Gross margin stability, five years | 2.6 pts | [2-3,7-14] | 1.9 pts | 63.5 | 116 | 2025-12-31 | |
| Solvency, sleeve percentile 22.5 | |||||||
| Twelve-month failure probability | not computable | 0.03% | |||||
| latest liabilities, cash plus short-term investments, book equity, and shares are required | |||||||
| Altman Z double-prime | 6.27 | [1,15-20] | 3.11 | 20.7 | 122 | 2025-12-31 | |
| Net debt to EBITDA | not computable | 2.54x | |||||
| latest aligned inputs end 2019-12-31; latest annual assets end 2025-12-31 | |||||||
| Interest coverage | not computable | 2.51x | |||||
| one or more required annual facts are missing | |||||||
| Current ratio | 2.66x | [15-16] | 1.81x | 24.4 | 157 | 2025-12-31 | |
| Growth and financing, sleeve percentile 42.0 | |||||||
| Revenue growth, three-year compound | (3.1%) | [2,8,10,12] | 0.2% | 70.5 | 133 | 2025-12-31 | |
| Free cash flow growth, three-year compound | not computable | 14.9% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | 42.5% | [15-16,18,21-26] | 10.7% | 34.8 | 70 | 2025-12-31 | |
| Asset growth, three years | 1.5% | [1,6,27-28] | 0.5% | 44.4 | 134 | 2025-12-31 | |
| Net share issuance, one year | (1.9%) | [29-30] | 0.05% | 18.4 | 104 | 2026-02-12 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.185; sampling error 3.8 percentile points on 124 peers.
Among 124 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 41 | Cal-Maine Foods Inc. (CALM) Cal-Maine Foods Inc. (CALM) Bsecond fifth; percentile 32.5 Nasdaq · Agricultural Prod-Livestock & Animal Specialties market equity $3.0B; last close $64.81 Warnings: fortress balance sheet; 10 of 14 inputs | 32.5 | B | fortress balance sheet |
| 42 | Levi Strauss & Co. (LEVI) Levi Strauss & Co. (LEVI) Bsecond fifth; percentile 33.3 NYSE · Apparel & Other Finishd Prods of Fabrics & Similar Matl last close $19.04 No active warnings; 9 of 14 inputs | 33.3 | B | |
| 43 | Coffee Holding Co. Inc. (JVA) Coffee Holding Co. Inc. (JVA) Bsecond fifth; percentile 34.1 Nasdaq · Miscellaneous Food Preparations & Kindred Products market equity $25.5M; last close $4.45 Warnings: late filer; 9 of 14 inputs | 34.1 | B | late filer |
| 44 | Mohawk Industries Inc. (MHK) Mohawk Industries Inc. (MHK) Bsecond fifth; percentile 35.0 NYSE · Carpets & Rugs market equity $8.1B; last close $119.45 No active warnings; 12 of 14 inputs | 35.0 | B | |
| 45 | Carters Inc. (CRI) Carters Inc. (CRI) Bsecond fifth; percentile 35.8 NYSE · Apparel & Other Finishd Prods of Fabrics & Similar Matl market equity $1.2B; last close $32.50 No active warnings; 11 of 14 inputs | 35.8 | B | |
| 46 | Ingredion Inc. (INGR) Ingredion Inc. (INGR) B/Con the B/C boundary; percentile 36.6 NYSE · Grain Mill Products market equity $6.0B; last close $95.11 No active warnings; 9 of 14 inputs | 36.6 | B/C | |
| 47 | PVH Corp. (PVH) PVH Corp. (PVH) B/Con the B/C boundary; percentile 37.4 NYSE · Men's & Boys' Furnishgs, Work Clothg, & Allied Garments market equity $3.7B; last close $81.12 No active warnings; 11 of 14 inputs | 37.4 | B/C | |
| 48 | Coca-Cola Consolidated, Inc. (COKE) Coca-Cola Consolidated, Inc. (COKE) B/Con the B/C boundary; percentile 38.2 Nasdaq · Bottled & Canned Soft Drinks & Carbonated Waters last close $191.98 No active warnings; 11 of 14 inputs | 38.2 | B/C | |
| 49 | Coca Cola Co. (KO) Coca Cola Co. (KO) B/Con the B/C boundary; percentile 39.0 NYSE · Beverages market equity $377.6B; last close $87.77 No active warnings; 12 of 14 inputs | 39.0 | B/C | |
| 50 | Johnson Outdoors Inc. (JOUT) Johnson Outdoors Inc. (JOUT) B/Con the B/C boundary; percentile 39.8 Nasdaq · Sporting & Athletic Goods, NEC last close $44.29 Warnings: fortress balance sheet; 8 of 14 inputs | 39.8 | B/C | fortress balance sheet |
| 51 | Seneca Foods Corp. (SENEA) Seneca Foods Corp. (SENEA) B/Con the B/C boundary; percentile 41.1 Nasdaq · Canned, Fruits, Veg, Preserves, Jams & Jellies last close $177.13 No active warnings; 10 of 14 inputs | 41.1 | B/C |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | B | 35.7 | 2204 |
| sector peers, equal sleeves (the grade) | B/C | 36.6 | 124 |
| same exchange, equal sleeves | B | 34.0 | 984 |
| sector peers, equal inputs | B/C | 39.8 | 124 |
Each letter is one fifth of the 124 graded peers, about 24 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (12.7%) | (0.2%) | 31 | hotter than 31 of 100 peers |
| Distance from 52-week high | (21.8%) | (24.8%) | 60 | closer to its high than 60 of 100 peers |
| EBIT to enterprise value | 14.7% | 4.1% | 93 | pricier than 7 of 100 peers |
| Free cash flow yield | 8.5% | 4.8% | 70 | pricier than 30 of 100 peers |
| Book value to price | 0.75 | 0.57 | 59 | pricier than 41 of 100 peers |
| Sales to price | 1.20 | 1.20 | 50 | pricier than 50 of 100 peers |
| Composite equity issuance, five years | (21.7%) | (16.3%) | 29 | more equity-funded than 29 of 100 peers |
| Relative strength against the sector, log excess return | (0.23) | (0.10) | 31 | ahead of 31 of 100 peers |
Inputs: market equity $6.0B; EBIT $1.0B; free cash flow $511.0M; book equity $4.5B; sales $7.2B; debt $1.9B; cash $948.0M[31].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: 8 of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | 9.8% | ✓ pass[4,6] |
| Operating cash flow above zero | $944.0M | ✓ pass[5] |
| Return on assets improved | 1.3 pts | ✓ pass[4,6,27,32] |
| Operating cash flow exceeds net income | $215.0M | ✓ pass[4-5] |
| Long-term leverage fell | (1.0 pts) | ✓ pass[1,6,27,33-34] |
| Current ratio improved | 4.4 pts | ✓ pass[15-16,25-26] |
| No new shares issued | (1.9%) | ✓ pass[29-30] |
| Gross margin improved | 1.2 pts | ✓ pass[2-3,7-8] |
| Asset turnover improved | (0.2 pts) | ✗ fail[2,6,8,27] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $948.0M[35] |
| Operating cash flow, four quarters | $805.0M[5,35-39] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 63 |
| 10-Q received Aug 7, 2026 | |
| Median daily dollar volume | $61.6M |
| 63 sessions | |
| Days since newest grade input | 234 |
Downloads [top]
|
Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $7.9B | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $7.2B | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 3 | gross profit | us-gaap:GrossProfit | $1.8B | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 4 | net income | us-gaap:NetIncomeLoss | $729.0M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 5 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $944.0M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 6 | assets | us-gaap:Assets | $7.4B | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 7 | gross profit | us-gaap:GrossProfit | $1.8B | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 8 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $7.4B | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $1.7B | 2023-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $8.2B | 2023-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $1.5B | 2022-12-31 | 2025-02-20 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $7.9B | 2022-12-31 | 2025-02-20 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | $1.3B | 2021-12-31 | 2024-02-21 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $6.9B | 2021-12-31 | 2024-02-21 | 10-K | filing · viewer · series |
| 15 | current assets | us-gaap:AssetsCurrent | $3.5B | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 16 | current liabilities | us-gaap:LiabilitiesCurrent | $1.3B | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 17 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | $5.6B | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 18 | operating income | us-gaap:OperatingIncomeLoss | $1.0B | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 19 | book equity | us-gaap:StockholdersEquity | $4.3B | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 20 | liabilities | us-gaap:Liabilities | $3.5B | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 21 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $433.0M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 22 | depreciation amortization | us-gaap:DepreciationDepletionAndAmortization | $222.0M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 23 | pretax income | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | $974.0M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 24 | income tax | us-gaap:IncomeTaxExpenseBenefit | $238.0M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 25 | current assets | us-gaap:AssetsCurrent | $3.4B | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 26 | current liabilities | us-gaap:LiabilitiesCurrent | $1.3B | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 27 | assets | us-gaap:Assets | $7.6B | 2023-12-31 | 2025-02-20 | 10-K | filing · viewer · series |
| 28 | assets | us-gaap:Assets | $7.6B | 2022-12-31 | 2024-02-21 | 10-K | filing · viewer · series |
| 29 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 62,945,041 | 2026-02-12 | 2026-02-17 | 10-K | filing · viewer · series |
| 30 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 64,185,927 | 2025-02-14 | 2025-02-20 | 10-K | filing · viewer · series |
| 31 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 63,063,979 | 2026-08-05 | 2026-08-07 | 10-Q | filing · viewer · series |
| 32 | net income | us-gaap:NetIncomeLoss | $647.0M | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 33 | long term debt | us-gaap:LongTermDebtNoncurrent | $1.7B | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 34 | long term debt | us-gaap:LongTermDebtNoncurrent | $1.8B | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 35 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $948.0M | 2026-06-30 | 2026-08-07 | 10-Q | filing · viewer · series |
| 36 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $123.0M | 2026-06-30 | 2026-08-07 | 10-Q | filing · viewer · series |
| 37 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $33.0M | 2026-03-31 | 2026-05-08 | 10-Q | filing · viewer · series |
| 38 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $539.0M | 2025-09-30 | 2025-11-07 | 10-Q | filing · viewer · series |
| 39 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $262.0M | 2025-06-30 | 2026-08-07 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 36.6 is 3.4 points from the nearest band edge; sampling error is 3.8 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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