Ingredion Incorporated (INGR)

Solvency ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Debt-to-assets ratio	0.23	0.26	0.26	0.25	0.26	0.23	0.24	0.23	0.25	0.25	0.30	0.26	0.25	0.33	0.32	0.31	0.29	0.33	0.32	0.33
Debt-to-capital ratio	0.33	0.37	0.36	0.37	0.38	0.36	0.36	0.35	0.36	0.36	0.43	0.40	0.37	0.44	0.45	0.42	0.39	0.44	0.43	0.44
Debt-to-equity ratio	0.49	0.58	0.57	0.59	0.62	0.57	0.55	0.53	0.56	0.57	0.75	0.66	0.59	0.77	0.81	0.72	0.65	0.77	0.75	0.78
Financial leverage ratio	2.16	2.24	2.25	2.34	2.40	2.41	2.35	2.26	2.26	2.27	2.52	2.58	2.32	2.36	2.50	2.28	2.22	2.35	2.31	2.35

The solvency ratios of Ingredion Inc indicate the company's ability to meet its long-term financial obligations and the extent to which it relies on debt financing.

The debt-to-assets ratio has been consistently decreasing over the past eight quarters, from 0.35 in Q1 2023 to 0.29 in Q4 2023. This suggests that Ingredion Inc has been able to reduce its reliance on debt to fund its assets, which indicates a stronger financial position in terms of asset coverage by equity.

Similarly, the debt-to-capital and debt-to-equity ratios have also shown a decreasing trend over the same period, indicating a lower proportion of debt in the company's capital structure. This reflects a healthier balance between debt and equity financing and reduced financial risk.

The financial leverage ratio, although fluctuating, has generally trended downward from Q1 2022 to Q4 2023, reflecting a reduction in the company's dependence on borrowed funds. This indicates an improvement in the company's financial stability and the ability to repay its long-term debt obligations.

Overall, the solvency ratios of Ingredion Inc demonstrate a positive trend towards a more conservative capital structure with lower reliance on debt financing, which may enhance the company's ability to weather financial challenges and sustain long-term growth.

Coverage ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Interest coverage	8.39	7.48	7.34	7.88	7.70	8.53	8.84	8.73	4.19	4.84	4.49	3.16	7.19	7.55	7.51	8.52	8.20	7.86	7.73	7.25

As there is no specific data provided for Ingredion Inc's interest coverage ratio across the listed quarters, a detailed analysis cannot be conducted at this time. Interest coverage ratio is a key measure of a company's ability to meet its interest payments on outstanding debt. To perform a thorough analysis of interest coverage, it is crucial to have the necessary data on a company's earnings before interest and taxes (EBIT) and its interest expenses. These figures would allow for the calculation of the interest coverage ratio, which provides insights into the company's financial health and ability to fulfill its debt obligations. Without the specific data points, a precise evaluation of Ingredion Inc's interest coverage over the mentioned quarters is not feasible.