Discounted Cash Flow

Ingredion Inc.

INGR · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $5.7b $485.0m $487.0m 8.5% $6.70
2017 $5.8b (2.2%) $519.0m (7.0%) $455.0m (-6.6%) 8.9% (4.7%) $7.21 (7.6%)
2018 $5.8b (0.2%) $443.0m (-14.6%) $353.0m (-22.4%) 7.6% (-14.8%) $6.25 (-13.3%)
2019 $6.2b (6.3%) $413.0m (-6.8%) $352.0m (-0.3%) 6.7% (-12.3%) $6.17 (-1.3%)
2020 $6.0b (-3.6%) $348.0m (-15.7%) $489.0m (38.9%) 5.8% (-12.6%) $5.18 (-16.0%)
2021 $6.9b (15.1%) $117.0m (-66.4%) $92.0m (-81.2%) 1.7% (-70.8%) $1.74 (-66.4%)
2022 $7.9b (15.3%) $492.0m (320.5%) $-148.0m (-260.9%) 6.2% (264.8%) $7.43 (327.0%)
2023 $8.2b (2.7%) $643.0m (30.7%) $741.0m (600.7%) 7.9% (27.3%) $9.74 (31.1%)
2024 $7.4b (-8.9%) $647.0m (0.6%) $1.1b (53.2%) 8.7% (10.5%) $9.88 (1.4%)
2025 $7.2b (-2.8%) $729.0m (12.7%) $511.0m (-55.0%) 10.1% (16.0%) $11.36 (15.0%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model