Ingredion Inc
ingredion.comWhat Do They Do?
Transforms grains, fruits, vegetables and other plant materials into starches, sweeteners and specialty ingredients for food and beverage makers, brewers and industrial customers.
10-K for FY2025, filed Feb 17, 2026Ingredion Incorporated (together with its consolidated subsidiaries, the “Company,” “Ingredion,” “we,” “us,” and “our”) is a leading global…View ↗
Our innovative ingredient solutions help customers stay on trend with consumer-friendly, in-demand ingredients. Ingredion derives most of…View ↗
Sweeteners have broad application in food, beverage and brewing products. Food companies use our sweeteners in a wide variety of food and…View ↗
How Do They Make Money?
Customers buy Ingredion's products under purchase orders, sometimes covered by broader agreements, at fixed or variable prices; they pay shortly after each product sale.
10-K for FY2025, filed Feb 17, 2026We identify customer purchase orders, which in some cases are governed by a master sales agreement, as the contracts with our customers.…View ↗
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10-K for FY2025, filed Feb 17, 2026
FY2025 revenue by reportable segment ↗
$7.2B
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10-K for FY2025, filed Feb 17, 2026
$7.2B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
T&HS
Sold outright
10-K for FY2025, filed Feb 17, 2026 |
33%
FY2022: 29%
|
T&HS, FY2025
$2.4B Sources
|
Sold outright |
|
F&II–LATAM
Sold outright
10-K for FY2025, filed Feb 17, 2026 |
32%
FY2022: 32%
|
F&II–LATAM, FY2025
$2.3B Sources
|
Sold outright |
|
F&II–U.S./Canada
Sold outright
10-K for FY2025, filed Feb 17, 2026 |
28%
FY2022: 28%
|
F&II–U.S./Canada, FY2025
$2B Sources
|
Sold outright |
Who Are Their Customers?
Sales staff sell directly to manufacturers and distributors serving food, beverage and brewing, animal nutrition, and industrial markets.
10-K for FY2025, filed Feb 17, 2026
Do Revenues Turn Into Profits?
Yes. It kept 10 cents of every revenue dollar as net income in FY2025 and turned 7 cents into free cash flow.
10-K for FY2025, filed Feb 17, 2026
$1BView ↗
10-K for FY2025, filed Feb 17, 2026
$729MView ↗
10-K for FY2025, filed Feb 17, 2026
$511MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
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Aug 20, 2026
Ingredion named Diego Reynoso as CFO, succeeding interim CFO Jason Payant
Reynoso is scheduled to take the role on October 1, 2026.
Sources
8-K, filed Aug 20, 2026
(b) Effective October 1, 2026, upon the effective date of Diego Reynoso’s election as Executive Vice President and Chief Financial Officer…View ↗
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Jun 30, 2026
Ingredion completed sale of a 51% stake in Rafhan Maize
Ingredion retained a 20% minority stake and entered manufacturing, supply and distribution agreements.
Sources
8-K, filed Jun 30, 2026
As part of the Transaction, the Purchaser acquired approximately 78% of the outstanding shares of Rafhan Maize, inclusive of Ingredion’s…View ↗
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Jun 9, 2026
Ingredion agreed terms for a cash offer for Tate & Lyle
The offer is subject to shareholder, court and antitrust conditions; completion is expected in the second half of 2027.
Sources
8-K, filed Jun 9, 2026
The Acquisition will be subject to conditions and further terms, including among others: (i) the approval of the Scheme by a majority in…View ↗
Flat. Revenue was $7.2B in FY2025, about the same as the $6.9B of FY2021.
Who Do They Compete With?
Competes with ADM, Tate & Lyle, Cargill, Roquette, ALMEX, and Primient
10-K for FY2025, filed Feb 17, 2026T&HS faces competition globally from Archer-Daniels-Midland Company (“ADM”), Tate & Lyle, Cargill, and Roquette. Smaller, local corn…View ↗
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