Ingredion Incorporated (INGR)
Debt-to-capital ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,740,000 | 1,940,000 | 1,738,000 | 1,748,000 | 1,766,000 |
| Total stockholders’ equity | US$ in thousands | 3,538,000 | 3,147,000 | 3,100,000 | 2,951,000 | 2,720,000 |
| Debt-to-capital ratio | 0.33 | 0.38 | 0.36 | 0.37 | 0.39 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,740,000K ÷ ($1,740,000K + $3,538,000K)
= 0.33
The debt-to-capital ratio of Ingredion Inc has shown some fluctuation over the past five years. The ratio was 0.40 in 2019 and 2021, 0.43 in 2020, and then decreased to 0.38 in 2023. This indicates that the company has managed to reduce its reliance on debt as a source of capital in the most recent year, which can be viewed positively from a financial stability perspective. However, it is important to note that the ratio increased in 2022 to 0.44 before declining in 2023. Overall, the downward trend in the debt-to-capital ratio suggests that Ingredion Inc is gradually strengthening its financial position by reducing its debt levels relative to its capital over the analyzed period.
Peer comparison
Dec 31, 2023