Ingredion Incorporated (INGR)
Financial leverage ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 7,642,000 | 7,561,000 | 6,999,000 | 6,858,000 | 6,040,000 |
| Total stockholders’ equity | US$ in thousands | 3,538,000 | 3,147,000 | 3,100,000 | 2,951,000 | 2,720,000 |
| Financial leverage ratio | 2.16 | 2.40 | 2.26 | 2.32 | 2.22 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $7,642,000K ÷ $3,538,000K
= 2.16
The financial leverage ratio of Ingredion Inc has exhibited some fluctuations over the past five years. In 2023, the financial leverage ratio decreased to 2.16 from 2.40 in 2022. This suggests that the company relied less on debt financing in 2023 compared to the previous year. However, when compared to 2021 and 2020, the financial leverage ratio in 2023 remains relatively lower at 2.16.
Despite the decrease in 2023, the financial leverage ratio of Ingredion Inc has been within a range of 2.16 to 2.40 over the past five years, indicating a consistent level of leverage in its capital structure. This suggests that the company has maintained a stable balance between debt and equity in its financing decisions during this period.
Overall, while there have been minor fluctuations in the financial leverage ratio of Ingredion Inc, the company has managed to keep its leverage within a relatively steady range, reflecting a cautious approach to its capital structure.
Peer comparison
Dec 31, 2023