FLO vs. INGR

Last updated Jun 3, 2026

FLO (Flowers Foods, Inc.) and INGR (Ingredion Incorporated) are both stocks. Both operate in the Packaged Foods industry within the Consumer Defensive sector. Over the past 10 years, FLO returned -5.03%/yr vs 0.94%/yr for INGR. At a 0.32 correlation, their price movements are largely independent.

Performance

FLO vs. INGR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Flowers Foods, Inc. (FLO) and Ingredion Incorporated (INGR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLO achieves a -30.02% return, which is significantly lower than INGR's -6.92% return. Over the past 10 years, FLO has underperformed INGR with an annualized return of -5.03%, while INGR has yielded a comparatively higher 0.94% annualized return.

FLO

• 1D: -3.26%
• 1M: -15.02%
• YTD: -30.02%
• 6M: -28.77%
• 1Y: -51.59%
• 3Y*: -29.91%
• 5Y*: -18.15%
• 10Y*: -5.03%

INGR

• 1D: -0.62%
• 1M: -8.43%
• YTD: -6.92%
• 6M: -4.69%
• 1Y: -25.20%
• 3Y*: 0.64%
• 5Y*: 3.78%
• 10Y*: 0.94%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FLO vs. INGR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLO Flowers Foods, Inc.	-30.02%	-43.63%	-4.34%	-18.63%	7.97%	25.63%	7.73%	21.80%	-0.93%	0.22%
INGR Ingredion Incorporated	-6.92%	-17.86%	29.22%	14.08%	4.47%	26.35%	-12.55%	4.70%	-33.10%	13.87%

Correlation

The correlation between FLO and INGR is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since Dec 12, 1997	0.32

Over the past year, FLO and INGR have become more correlated (0.52) than their long-term average of 0.32, meaning their price movements have been converging.

Fundamentals

EPS FLO : $0.66 INGR : $13.96
PE Ratio FLO : 11.22 INGR : 7.24
PS Ratio FLO : 0.64 INGR : 0.91
Total Revenue (TTM) FLO : $2.47B INGR : $5.41B
Gross Profit (TTM) FLO : $1.19B INGR : $1.36B
EBITDA (TTM) FLO : $289.47M INGR : $902.00M

Return for Risk

FLO vs. INGR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FLO

FLO Risk / Return Rank: 2
FLO Sharpe Ratio Rank: 0
FLO Sortino Ratio Rank: 1
FLO Omega Ratio Rank: 2
FLO Calmar Ratio Rank: 3
FLO Martin Ratio Rank: 3

INGR

INGR Risk / Return Rank: 2
INGR Sharpe Ratio Rank: 0
INGR Sortino Ratio Rank: 2
INGR Omega Ratio Rank: 3
INGR Calmar Ratio Rank: 2
INGR Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FLO vs. INGR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Flowers Foods, Inc. (FLO) and Ingredion Incorporated (INGR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FLO	INGR	Difference
Sharpe ratio Return per unit of total volatility	-1.50	-1.54	+0.04
Sortino ratio Return per unit of downside risk	-2.55	-2.10	-0.46
Omega ratio Gain probability vs. loss probability	0.70	0.75	-0.05
Calmar ratio Return relative to maximum drawdown	-0.95	-0.97	+0.02
Martin ratio Return relative to average drawdown	-1.66	-1.65	-0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLO vs. INGR - Sharpe Ratio Comparison

The current FLO Sharpe Ratio is -1.50, which is comparable to the INGR Sharpe Ratio of -1.54. The chart below compares the historical Sharpe Ratios of FLO and INGR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FLO	INGR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.50	-1.54	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.74	0.18	-0.92
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.20	0.04	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.29	-0.12

Drawdowns

FLO vs. INGR - Drawdown Comparison

The maximum FLO drawdown since its inception was -72.29%, which is greater than INGR's maximum drawdown of -64.20%. Use the drawdown chart below to compare losses from any high point for FLO and INGR.

Drawdown Indicators

	FLO	INGR	Difference
Max Drawdown Largest peak-to-trough decline	-72.29%	-64.20%	-8.09%
Max Drawdown (1Y) Largest decline over 1 year	-55.34%	-26.04%	-29.30%
Max Drawdown (3Y) Largest decline over 3 years	-68.82%	-32.62%	-36.20%
Max Drawdown (5Y) Largest decline over 5 years	-72.29%	-32.62%	-39.67%
Max Drawdown (10Y) Largest decline over 10 years	-72.29%	-56.14%	-16.15%
Current Drawdown Current decline from peak	-70.71%	-32.09%	-38.62%
Average Drawdown Average peak-to-trough decline	-20.59%	-18.31%	-2.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.59%	15.37%	+16.22%

Volatility

FLO vs. INGR - Volatility Comparison

Flowers Foods, Inc. (FLO) has a higher volatility of 17.01% compared to Ingredion Incorporated (INGR) at 5.92%. This indicates that FLO's price experiences larger fluctuations and is considered to be riskier than INGR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLO	INGR	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.01%	5.92%	+11.09%
Volatility (6M) Calculated over the trailing 6-month period	28.69%	11.73%	+16.96%
Volatility (1Y) Calculated over the trailing 1-year period	34.41%	16.40%	+18.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.71%	21.28%	+3.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.10%	24.88%	+0.22%

Dividends

FLO vs. INGR - Dividend Comparison

FLO's dividend yield for the trailing twelve months is around 13.36%, more than INGR's 3.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLO Flowers Foods, Inc.	13.36%	9.03%	4.60%	4.04%	3.03%	3.02%	3.49%	3.45%	3.84%	3.47%	3.13%	2.64%
INGR Ingredion Incorporated	3.22%	2.92%	1.72%	2.75%	2.78%	2.67%	3.23%	2.70%	2.68%	1.57%	1.52%	1.82%

Financials

Frequently Asked Questions

Can I hold both FLO and INGR in my portfolio?

FLO and INGR have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLO or INGR?

FLO has higher volatility (17.01%) compared to INGR (5.92%). In terms of maximum drawdown, FLO dropped -72.29% vs INGR's -64.20%.

Which has better risk-adjusted returns?

FLO currently has the higher Sharpe Ratio (-1.50 vs -1.54), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.