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Friday 6 November 2026 Export IFF’s income statement to Excel — free account

International Flavors & Fragrances Inc.

IFF Basic Materials Specialty Chemicals

Revenue
+3.91%
EPS
−235.9%
Free cash flow
−123.3%
Total debt
+32.3%

Quarter to September 2026, against a year earlier

86.57 1.10 −1.25%
Market cap
$21.6B
P/E
121×
Fwd P/E
60.3×
Dividend yield
1.85%
F-score
6/9
Altman Z
1.18
Beneish M
−2.54
Dividend safety
0/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2024

  • Food Ingredients
  • Scent
  • Taste
  • Health & Biosciences
  • Pharma Solutions

Every year since 2016 →

Insider Decisions last twelve months

Bought, $m 32.48
Sold, $m 1.32
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 1 — — 2 — — 1 — — — — —
Sell — — — — — — — — 3 — — —
Insider Ownership 1.00%

Capital & Financial Ratios $m

Size
Market Cap 21,620.00
Revenue ttm 10,896.00
Net income ttm 184.00
Free cash flow ttm 518.00
Net debt Q 6,001.00
Valuation
P/E 121.48 (above 35: high)
Forward P/E 60.30 (above 35: high)
Price / sales 2.01
Forward P/S Powerpack
Price / FCF 42.28
Price / book 1.65
Financial health
Current ratio Q 1.87 (at or above 1.5: strong)
Debt / equity Q 0.47 (at or below 0.5: strong)
Interest coverage Q 3.48
Growth
Revenue growth Q +3.91% (above 0%: growing)
Operating income growth Q −16.23% (below 0%: shrinking)
EPS, this year −20.56% (below 0%: weak)
EPS, next year A +16.43% (at or above 15%: strong)
Revenue, next year A −30.31% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +2.03%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.6×, against a ten-year median of 3.3×; over the ten years it ranged from 2.0× in 2025 to 6.5× in 2021.
P/E against its own 10 years 91.34%
10-year low 10-year high
P/S against its own 10 years 29.45%
10-year low 10-year high
P/B against its own 10 years 41.66%
10-year low 10-year high
EV/Sales against its own 10 years 20.13%
10-year low 10-year high
EV/FCF against its own 10 years 75.54%
10-year low 10-year high

Dividends

Yield
1.85%
Annual rate
1.60
Payout ratio
224.5%
Growth, 2017–25
−6.16%/yr
  1. 2.66 ’17
  2. 2.84 ’18 +7
  3. 2.96 ’19 +4
  4. 3.04 ’20 +3
  5. 3.12 ’21 +3
  6. 3.20 ’22 +3
  7. 3.24 ’23 +1
  8. 1.60 ’24 −51
  9. 1.60 ’25 +0
  10. 1.61 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 709 469 590 272
Receivables 1,726 1,624 1,731 1,416
Inventory 2,477 2,133 2,245 1,452
Other 506 3,056 151 117
6,293 7,968 5,594 9,275
2023 2024 2025 Q'26
Payables 1,378 1,283 1,287 991
ST’ Debt — — — 1,538
Other 1,023 1,134 963 898
3,758 4,352 3,933 4,958

Compound Annual Growth %

10y 5y 3y
Sales 13.67% 16.46% (4.34%)
Cash Flow 6.16% 3.55% 28.89%
Earnings 0.00% 0.00% 0.00%
Book Value 24.43% 17.54% (7.09%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.81 Actual 0.83

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.85 0.80 Miss by 0.05
Q1 FY26 1.08 1.25 Beat by 0.17
Q2 FY26 0.78 0.82 Beat by 0.04
Q3 FY26 0.81 0.83 Beat by 0.02
Q4 FY26 0.75 — Reports 10 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.66 0.20 (0.22) — —
’25 (3.98) 2.38 0.16 0.07 (1.46)
’24 0.23 0.66 0.23 (0.10) 1.04
’23 (0.04) 0.11 0.10 (10.21) (10.05)
’22 0.96 0.43 (8.62) (0.09) (7.21)
’21 (0.21) 0.11 0.76 0.35 1.10
’20 1.15 0.74 0.75 0.57 3.21
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 2,741 1,954 1,942 — —
’25 2,843 2,764 1,869 4,259 10,890
’24 2,899 2,889 2,925 2,771 11,484
’23 3,027 2,929 2,820 2,703 11,479
’22 3,226 3,307 3,063 2,844 12,440
’21 2,465 3,089 3,071 3,031 11,656
’20 1,347 1,199 1,268 1,270 5,084
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 257 422 141 — —
’25 127 241 164 318 850
’24 99 237 345 389 1,070
’23 127 248 420 660 1,455
’22 (4) (47) 240 208 397
’21 358 340 428 311 1,437
’20 17 191 207 299 714
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 92 284 (7) — —
’25 (52) 146 30 151 275
’24 (16) 168 239 232 623
’23 (41) 147 321 552 979
’22 (136) (149) 129 55 (101)
’21 266 269 358 165 1,058
’20 (28) 157 180 230 539
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 21.4% a year for ten years. It grew −0.3% a year over the last ten.

Implied
21.4%
10 years, reported
−0.3%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 3,116 3,399 3,978 5,140 5,084 11,656 12,440 11,479 11,484 10,890 10,896 +14.9% 7,589 7,835 8,191 (9.1%)
Gross margin, % 44.78 43.32 42.31 41.11 41.03 32.04 33.37 32.07 35.91 36.16 36.49 (8.6) pt
EBT 524 537 448 557 441 354 (1,625) (2,518) 308 (412) 153 n/m
EBT margin, % 16.81 15.80 11.26 10.84 8.67 3.04 (13.06) (21.94) 2.68 (3.78) 1.40 (20.6) pt
Net income 405 296 340 460 367 279 (1,864) (2,587) 267 (359) 184 n/m
Per share, $
Per share, $ Revenue 39.13 42.98 45.43 45.89 45.39 47.97 48.78 45.02 44.86 42.54 43.07 +0.9%
Earnings 5.07 3.73 3.81 4.05 3.25 1.11 (7.21) (10.05) 1.04 (1.46) 0.71 n/m
Cash flow 6.91 4.94 5.00 6.24 6.38 5.91 1.56 5.71 4.18 3.32 4.50 (7.8%)
Capex (1.50) (1.43) (1.89) (1.79) (1.56) (1.56) (1.95) (1.87) (1.75) (2.25) (2.45) +4.6%
Free cash flow 5.41 3.51 3.11 4.46 4.81 4.35 (0.40) 3.84 2.43 1.07 2.05 (16.4%)
Book value 20.48 21.36 69.03 55.62 56.45 86.90 69.35 57.42 54.18 55.41 52.53 +11.7%
Shares, m 80 79 88 112 112 243 255 255 256 256 255 +13.9%
Valuation, ×
Valuation, × P/E 23.11 41.44 32.35 31.94 33.59 149.16 0.00 0.00 82.18 0.00 121.48 39.4
P/S 2.99 3.60 2.96 2.81 2.40 3.14 2.17 1.81 1.88 1.47 2.01 2.5
P/B 5.72 7.23 1.95 2.32 1.93 1.73 1.52 1.42 1.56 1.22 1.65 2.7
EV/Sales 3.23 3.97 3.92 3.55 3.15 4.07 3.02 2.65 2.61 1.95 2.56 3.2
EV/FCF 23.40 48.52 56.63 36.14 30.19 44.81 (371.35) 31.12 48.10 83.26 53.87 3.1
Cash, $m
Cash, $m Operating cash flow 550 391 438 699 714 1,437 397 1,455 1,070 850 1,138 +5.0%
Capex (120) (113) (165) (200) (175) (379) (498) (476) (447) (575) (620) +19.1%
Free cash flow 431 278 272 499 539 1,058 (101) 979 623 275 518 (4.9%)
Balance, $m
Balance, $m Working capital 711 1,128 1,814 1,390 1,156 3,354 3,704 2,535 3,616 1,661 4,317 +9.9%
Net debt 743 1,264 3,856 3,373 3,122 10,053 9,880 8,477 7,095 4,150 6,001 +21.1%
Shareholders’ equity 1,631 1,689 6,043 6,230 6,322 21,117 17,685 14,642 13,869 14,186 13,290 +27.2%
Returns, %
Returns, % ROA 10.49 6.86 3.86 3.48 2.70 1.01 (4.98) (7.79) 0.88 (1.33) 0.72 (11.8) pt
ROIC 14.56 11.69 3.69 4.33 3.75 1.17 (3.01) (5.70) 2.28 (1.30) 2.52 (15.9) pt
ROE 25.11 17.81 8.72 7.43 5.78 1.97 (9.64) (16.03) 1.84 (2.57) 1.32 (27.7) pt
People
People Employees 6,900 7,300 13,000 13,600 13,700 24,000 24,600 21,500 3,400 21,500 — +13.5%
Revenue/emp, $m 0.45 0.47 0.31 0.38 0.37 0.49 0.51 0.53 3.38 0.51 — +1.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

International Flavors & Fragrances, or IFF, develops and manufactures ingredients used in food, beverages, fragrances, household goods and health products. Its customers are generally manufacturers that incorporate those ingredients into products sold to consumers or other businesses, rather than shoppers buying finished goods directly from IFF.

The company makes flavor compounds and seasonings for products such as drinks, snacks, sauces and dairy foods. It also makes fragrances and fragrance ingredients for perfumes, laundry products, cleaners and personal care items. Its Health & Biosciences business supplies enzymes, cultures, probiotics and other ingredients for uses ranging from yogurt and dietary supplements to animal feed and biofuel production.

Where the money comes from and where it goes Fiscal 2024

Fiscal 2024: revenue by segment, and margins
Food Ingredients 3,365 29.30%
Scent 2,439 21.24%
Taste 2,428 21.14%
Health & Biosciences 2,203 19.18%
Pharma Solutions 1,049 9.13%
Gross margin 35.91%
Operating margin 6.67%
Pre-tax margin 2.68%

Revenue by segment since 2016

International Flavors & Fragrances Inc. vs peers in Specialty Chemicals (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PPG PPG Industries, Inc. $27.2B 17.6× 16.2× +6.64% (above 0%: growing) +1.00% (above 0%: growing) −23.61% (below 0%: shrinking) 40.52% 14.89% Compare
IFF International Flavors & Fragrances Inc. $21.6B 121× 60.3× +3.91% (above 0%: growing) n/m −123.33% (below 0%: shrinking) 42.48% 8.24%
LYB LyondellBasell Industries N.V. $19.9B 15.6× 9.2× +9.99% (above 0%: growing) n/m +144.89% (above 0%: growing) 17.60% 12.55% Compare
DD DuPont de Nemours, Inc. $19.2B 64.2× 26.3× +4.07% (above 0%: growing) n/m +36.69% (above 0%: growing) 35.71% 16.81% Compare
RPM RPM International Inc. $13.5B 19.5× 17.3× +4.82% (above 0%: growing) +13.48% (above 0%: growing) +33.14% (above 0%: growing) 41.25% 15.99% Compare
ALB Albemarle Corporation $11.6B 22.6× 9.9× +18.75% (above 0%: growing) n/m +708.43% (above 0%: growing) 19.36% 9.54% Compare
SSL Sasol Ltd. $9.6B 3.3× 5.5× −5.20% (below 0%: shrinking) +20.86% (above 0%: growing) +6,912.65% (above 0%: growing) 31.35% 0.00% Compare
SOLS Solstice Advanced Materials Inc. $8.8B 26.5× 20.5× +7.95% (above 0%: growing) −11.11% (below 0%: shrinking) +276.34% (above 0%: growing) 32.98% 15.68% Compare
WLK Westlake Corporation $8.5B — (loss-making) 36.7× +5.04% (above 0%: growing) n/m +485.96% (above 0%: growing) 12.81% 1.44% Compare
Median of peers $12.5B 19.5× 16.8× +5.84% +7.24% +210.62% 32.17% 13.72%

All 61 Specialty Chemicals stocks →

From the latest earnings call

Updated

  • CFO Michael DeVeau said second-quarter growth across IFF’s continuing businesses came from volume, with pricing contributing little, if anything.
  • CEO Erik Fyrwald said IFF expects to eliminate approximately two-thirds of the stranded costs from the Food Ingredients sale within the first year after closing.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 110.25%
Held by the ten largest 69.42%
Holder Shares Stake Change
Dodge & Cox 37.01m 14.50% +534.10k
Vanguard 30.58m 11.98% −43.03k
Freemont Capital Pte Ltd 25.36m 9.93% 0.00
BlackRock 23.18m 9.08% +454.11k
First Eagle Investment Management, LLC 18.82m 7.37% +9.50m
State Street 12.34m 4.83% +1.05m
Invesco 9.40m 3.68% +1.91m
UBS 8.28m 3.25% +578.76k
Geode Capital Management 6.81m 2.67% −144.46k
First Pacific Advisors, LP 5.46m 2.14% +45.16k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 18 March 2026

Ownership

Directors and executive officers, together less than 1%
Dodge & Cox 13.70%
The Vanguard Group 12.40%
Winder Pte. Ltd. and related persons #19-01A 9.90%
BlackRock, Inc. 7.00%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

International Flavors & Fragrances Inc. (IFF) Latest News

5 Nov

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4 Nov

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3 Nov

Impact 3 · · Investing.com
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27 Oct

Impact 4 · · Business Wire
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26 Oct

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23 Oct

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16 Oct

Impact 3 · · Barchart

6 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Business Wire

30 Sep

Impact 4 · · Business Wire

18 Sep

Impact 3 ·

17 Sep

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25 Aug

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12 Aug

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8 Aug

Impact 3 · · MarketBeat transcript

5 Aug

Impact 3 ·
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4 Aug

Impact 4 ·
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Impact 3 ·
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20 Jul

Impact 3 ·

15 Jul

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2 Jul

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IFF metrics, ten years each

stockrow.com/IFF · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com