Ingredion Incorporated (INGR)
Debt-to-equity 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-equity ratio | 0.49 | 0.62 | 0.56 | 0.59 | 0.65 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,740,000K ÷ $3,538,000K
= 0.49
The debt-to-equity ratio of Ingredion Inc has exhibited fluctuations over the past five years. In 2023, the ratio decreased to 0.62 from 0.79 in 2022, indicating a lower level of financial leverage and a stronger equity position compared to the prior year. This reduction suggests that the company relied less on debt financing relative to its equity capital in 2023. The ratio in 2023 is also lower than the ratios in 2020 and 2021, further signaling a more conservative capital structure in the most recent year. Despite the fluctuations, the company has maintained a relatively stable range for its debt-to-equity ratio over the period, with values between 0.62 and 0.79. This suggests that Ingredion Inc has managed its debt and equity components effectively to support its operations and growth initiatives while balancing financial risk.
Peer comparison
Dec 31, 2023