International Flavors & Fragrances Inc. (IFF) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$1.12	$0.82	-26.8%	—	—	—
Q4 26	$1.07	$1.25	+16.8%	—	—	—
Q3 26	$0.83	$0.8	-3.6%	—	—	—
Q2 26	$1.02	$1.05	+2.9%	—	—	—
Q1 26	$1.12	$1.15	+2.7%	—	—	—
Q4 25	$1.14	$1.2	+5.3%	—	—	—
Q3 25	$0.82	$0.97	+18.3%	—	—	—
Q2 25	$1.08	$1.04	-3.7%	—	—	—
Q1 25	$0.97	$1.16	+19.6%	—	—	—
Q4 24	$0.87	$1.13	+29.9%	—	—	—
Q3 24	$0.77	$0.72	-6.5%	—	—	—
Q2 24	$0.75	$0.89	+18.7%	—	—	—
Q1 24	$1.1	$0.86	-21.8%	—	—	—
Q4 23	$0.87	$0.87	0.0%	—	—	—
Q3 23	$0.96	$0.97	+1.0%	—	—	—
Q2 23	$1.32	$1.36	+3.0%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$1.46	—	—	$10.9B	—
FY24	—	$0.95	—	—	$11.5B	—
FY23	—	-$10.1	—	—	$11.5B	—
FY22	—	-$7.21	—	—	$12.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$3.1B	$3.4B	$4B	$5.1B	$5.1B	$11.7B	$12.4B	$11.5B	$11.5B	$10.9B
YoY change	+3.08%	+9.06%	+17%	+29.2%	-1.09%	+129.3%	+6.73%	-7.73%	+0.04%	-5.17%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	3.1B	3.4B	4B	5.1B	5.1B	11.7B	12.4B	11.5B	11.5B	10.9B
Cost of revenue	1.7B	1.9B	2.3B	3B	3B	7.9B	8.3B	7.8B	7.4B	7B
Gross profit	1.4B	1.5B	1.7B	2.1B	2.1B	3.7B	4.2B	3.7B	4.1B	3.9B
Gross margin	44.8%	43.3%	42.3%	41.1%	41%	32%	33.4%	32.1%	35.9%	36.2%
Research & development	258.9M	295.5M	311.6M	346M	357M	629M	603M	636M	671M	694M
Selling, general & administrative	572.5M	570.1M	707.5M	876M	949M	1.7B	1.8B	1.8B	2B	1.8B
Operating expenses	831.4M	865.6M	1B	1.2B	1.3B	2.4B	2.4B	2.4B	2.7B	2.5B
Operating income	540.4M	572.2M	587.8M	698M	587M	625M	1.1B	578M	848M	842M
Operating margin	17.3%	16.8%	14.8%	13.6%	11.5%	5.36%	8.46%	5.04%	7.38%	7.73%
Non-operating income, net	36.3M	30.3M	-7.5M	-3M	-14M	18M	-2.3B	-2.7B	-265M	-1B
Pretax income	523.7M	537M	447.8M	557M	441M	354M	-1.6B	-2.5B	278M	-412M
Income tax	118.7M	241.4M	108M	97M	74M	75M	239M	45M	31M	-53M
Net income	405M	295.7M	339.8M	460M	367M	279M	-1.9B	-2.6B	247M	-359M
Net margin	13%	8.7%	8.54%	8.95%	7.22%	2.39%	-15%	-22.3%	2.15%	-3.3%
EBITDA	666.6M	739.9M	796.8M	1.1B	919M	1.8B	2.3B	1.7B	1.7B	1.7B
EPS	5.07	3.73	3.81	4.05	3.25	1.11	-7.21	-10.1	0.95	-1.46
Diluted EPS	5.05	3.72	3.79	4	3.21	1.1	-7.21	-10.1	0.95	-1.46

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2.8B	2.7B	2.9B	2.9B	2.9B	2.8B	2.8B	2.8B	2.7B	2.6B	2.7B	2B
Cost of revenue	1.9B	1.8B	1.9B	1.8B	1.9B	1.8B	1.8B	1.7B	1.7B	1.7B	1.7B	1.1B
Gross profit	924M	860M	1B	1.1B	1.1B	980M	1B	1B	983M	890M	1B	853M
Gross margin	32.8%	31.8%	35.3%	37%	36%	35.4%	36.4%	37.3%	36.5%	34.4%	37.1%	43.7%
Research & development	157M	157M	166M	173M	162M	170M	164M	182M	174M	174M	166M	170M
Selling, general & administrative	444M	444M	490M	493M	495M	517M	461M	483M	421M	469M	427M	437M
Operating expenses	601M	601M	656M	666M	657M	687M	625M	665M	595M	643M	593M	607M
Operating income	153M	92M	200M	249M	249M	150M	267M	220M	242M	113M	279M	164M
Operating margin	5.43%	3.4%	6.9%	8.62%	8.51%	5.41%	9.39%	7.96%	8.98%	4.36%	10.2%	8.39%
Non-operating income, net	-4M	-2.7B	-2M	13M	-80M	-196M	-1.2B	375M	-138M	-42M	-29M	-58M
Pretax income	59M	-2.6B	115M	183M	95M	-115M	-994M	534M	56M	22M	209M	64M
Income tax	32M	-32M	54M	11M	35M	-69M	23M	-78M	15M	-9M	39M	31M
Net income	27M	-2.6B	61M	172M	60M	-46M	-1B	612M	41M	31M	170M	51M
Net margin	0.96%	-96.5%	2.1%	5.95%	2.05%	-1.66%	-35.8%	22.1%	1.52%	1.2%	6.2%	2.61%
EBITDA	454M	317M	477M	480M	469M	255M	483M	452M	475M	329M	528M	383M
EPS	0.1	-10.2	0.23	0.67	0.23	-0.18	-3.98	2.39	0.16	0.07	0.66	0.2
Diluted EPS	0.1	-10.2	0.23	0.66	0.23	-0.18	-3.98	2.38	0.16	0.07	0.66	0.2

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	9.4B	12.1B	—	—	12.2B	—	26.7B	20.6B	21.6B	17.3B	21.9B
Enterprise value	10.4B	13.3B	—	—	16.3B	—	38B	30.7B	30.8B	23.3B	27.6B
Shares outstanding	79.6M	79.1M	87.6M	112M	112.2M	243M	255M	255M	256M	256M	256M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	23.2	40.8	—	—	33.3	—	—	—	87.6	—	26.6
P/S	3.01	3.55	—	—	2.4	—	2.15	1.8	1.88	1.58	2.03
P/B	5.75	7.14	—	—	1.9	—	1.51	1.41	1.56	1.22	1.57
EV/EBITDA	15.6	18	—	—	17.7	—	16.7	18.2	18.3	13.4	14.4
EV/Sales	3.33	3.92	—	—	3.2	—	3.05	2.68	2.68	2.14	2.56
Earnings yield	4.32%	2.45%	—	—	3.01%	—	—	—	1.14%	—	3.76%
FCF yield	4.51%	2.17%	—	—	4.28%	—	-0.41%	4.53%	2.78%	1.47%	-7.87%
PEG	—	—	—	—	—	—	—	—	—	—	-0.29

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	44.8%	43.3%	42.3%	41.1%	41%	32%	33.4%	32.1%	35.9%	36.2%	43.7%
Operating margin	17.3%	16.8%	14.8%	13.6%	11.5%	5.36%	8.46%	5.04%	7.38%	7.73%	8.49%
Net margin	13%	8.7%	8.54%	8.95%	7.22%	2.39%	-15%	-22.3%	2.15%	-3.3%	2.57%
ROE	24.8%	17.5%	5.55%	7.27%	5.72%	1.31%	-10.5%	-17.5%	1.78%	-2.53%	-5.55%
ROA	10.1%	6.43%	2.64%	3.46%	2.71%	0.7%	-5.25%	-8.27%	0.86%	-1.41%	2.27%
ROIC	15.9%	10.6%	4.44%	5.68%	4.66%	1.51%	3.63%	2.34%	3.27%	4.17%	3.18%
Return on tangible assets	31.5%	20.3%	-8.61%	-13.5%	-11.9%	-1.97%	19.9%	36.6%	-10.4%	11.6%	20.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.79	2.47	2.61	1.9	1.61	1.92	1.99	1.67	1.84	1.42	2.06
Quick ratio	1.13	1.62	1.65	1.17	1.01	1.23	1.11	0.97	1.32	0.82	1.72
Debt / equity	0.81	0.97	0.74	0.7	0.74	0.57	0.66	0.74	0.69	0.47	0.45
Debt / assets	0.33	0.36	0.35	0.33	0.35	0.31	0.33	0.35	0.33	0.26	0.25
Net debt / EBITDA	1.5	1.72	4.92	3.63	4.43	6.24	4.96	5.97	5.43	3.47	3.31
Interest coverage	10.9	9.22	4.38	5.04	4.34	2.22	-3.84	-5.63	1.91	-0.8	2.88
Effective tax rate	22.7%	44.9%	24.1%	17.4%	16.8%	21.2%	0%	0%	11.2%	0%	21.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	39.1	43	45.4	45.9	45.3	48	48.8	45	44.9	42.5	42.1
EPS (basic)	5.07	3.73	3.81	4.05	3.25	1.11	-7.21	-10.1	0.95	-1.46	-1.46
EPS (diluted)	5.05	3.72	3.79	4	3.21	1.1	-7.21	-10.1	0.95	-1.46	-3.09
Book value per share	20.5	21.4	70	56.5	57.2	87.3	69.6	57.4	54.3	55.4	54.7
FCF per share	5.32	3.31	3.02	4.08	4.65	4.28	-0.43	3.67	2.35	0.99	2.09
Cash per share	4.07	4.65	7.25	5.42	5.8	2.93	1.89	2.76	1.83	2.3	2.23
Capex per share	1.59	1.63	1.94	2.11	1.71	1.62	1.98	1.97	1.81	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.06%	3.79%	4.28%	4.59%	3.78%	3.37%	4.05%	4.38%	4.03%	—	—
Capex / operating cash flow	24.7%	33.9%	40.7%	38.2%	30%	27.2%	-24.6%	-38.8%	52%	—	—
Payout ratio	45.7%	69.7%	67.8%	68.3%	88%	239.1%	-43.5%	-32.2%	208.1%	-113.9%	49.5%
Dividend yield	1.97%	1.71%	—	—	2.65%	—	3.03%	4%	2.37%	2.37%	1.87%

Yield

1.87%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.40

ex-dividend Sep 18, 2026

Payout ratio

50%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 18, 2026	$0.40
Jun 18, 2026	$0.40
Mar 20, 2026	$0.40

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$2.8B	$2.7B	$2.9B	$2.9B	$2.9B	$2.8B	$2.8B	$2.8B	$2.7B	$2.6B	$2.7B	$2B
YoY change	-7.93%	-4.96%	-4.23%	-1.37%	+3.72%	+2.52%	-1.93%	-4.33%	-7.9%	-6.57%	-3.59%	-29.3%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	324M	368M	634.9M	606.8M	650M	711M	483M	703M	469M	590M
Receivables	550.7M	663.7M	937.8M	876.2M	929M	1.9B	1.8B	1.7B	1.6B	1.7B
Inventory	592M	649.4M	1.1B	1.1B	1.1B	2.5B	3.3B	2.6B	2.3B	2.4B
Total current assets	1.6B	1.9B	2.9B	2.9B	3.1B	7B	7.4B	6.3B	8B	5.6B
Property, plant & equipment	437.9M	506.5M	660.2M	848M	833M	3.4B	3.3B	3.1B	2.7B	2.8B
Goodwill & intangibles	2.7B	3.1B	16.8B	16.7B	16.6B	53.8B	44.9B	38B	31.1B	28.6B
Total assets	4B	4.6B	12.9B	13.3B	13.6B	39.7B	35.5B	31B	28.7B	25.5B
Accounts payable	274.8M	338.2M	471.4M	510.4M	556M	1.5B	1.4B	1.4B	1.3B	1.3B
Short-term debt	258.5M	7M	48.6M	424.6M	678M	741M	683M	970M	1.5B	1.3B
Total current liabilities	898.3M	768.8M	1.1B	1.6B	1.9B	3.6B	3.7B	3.8B	4.3B	3.9B
Long-term debt	1.1B	1.6B	4.5B	4B	4B	11.4B	11B	9.8B	8.1B	5.3B
Total liabilities	2.4B	2.9B	6.8B	7B	7.1B	18.4B	17.8B	16.3B	14.8B	11.4B
Shareholders' equity	1.6B	1.7B	6.1B	6.3B	6.4B	21.2B	17.7B	14.6B	13.9B	14.2B
Total debt	1.3B	1.6B	4.6B	4.4B	4.7B	12.2B	11.7B	10.8B	9.6B	6.6B
Net debt	1B	1.3B	3.9B	3.8B	4.1B	11.5B	11.2B	10.1B	9.1B	6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	629M	703M	732M	671M	567M	469M	613M	816M	621M	590M	562M	569M
Receivables	1.8B	1.7B	2B	1.8B	1.8B	1.6B	1.7B	1.8B	1.9B	1.7B	1.8B	1.4B
Inventory	2.7B	2.6B	2.6B	2.3B	2.3B	2.3B	2.4B	2.5B	2.4B	2.4B	2.4B	1.5B
Total current assets	6.4B	6.3B	6.4B	8.1B	8.4B	8B	8.6B	5.9B	5.9B	5.6B	5.4B	9.1B
Property, plant & equipment	3.1B	3.1B	3.1B	2.7B	2.7B	2.7B	2.6B	2.8B	2.7B	2.8B	2.8B	1.8B
Goodwill & intangibles	42.8B	38B	37.3B	32.3B	32.2B	31.1B	28.8B	29.4B	28.9B	28.6B	28.2B	23.8B
Total assets	33.4B	31B	30.6B	29.5B	29.9B	28.7B	28.3B	26.1B	25.8B	25.5B	25.1B	25.2B
Accounts payable	1.1B	1.4B	1.3B	1.3B	1.2B	1.3B	1.3B	1.3B	1.3B	1.3B	1.4B	1.1B
Short-term debt	1.2B	970M	1.2B	870M	556M	1.5B	1.8B	595M	1.4B	1.3B	1.2B	1B
Total current liabilities	3.7B	3.8B	3.8B	3.4B	3.2B	4.3B	4.6B	3.2B	4.1B	3.9B	3.6B	4.4B
Long-term debt	9.8B	9.8B	9.8B	9.2B	9.2B	8.1B	8.1B	6.3B	5.3B	5.3B	5.3B	5.2B
Total liabilities	16.3B	16.3B	16.3B	15.3B	15.1B	14.8B	15.1B	11.7B	11.5B	11.4B	11B	11.1B
Shareholders' equity	17.1B	14.6B	14.3B	14.3B	14.8B	13.9B	13.2B	14.4B	14.3B	14.2B	14.2B	14B
Total debt	11B	10.8B	11B	10.1B	9.8B	9.6B	9.9B	6.8B	6.7B	6.6B	6.4B	6.2B
Net debt	10.4B	10.1B	10.3B	9.4B	9.2B	9.1B	9.3B	6B	6.1B	6B	5.9B	5.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	405M	295.7M	339.8M	460M	367M	279M	-1.9B	-2.6B	247M	-359M
Depreciation & amortization	102.5M	118M	173.8M	323M	325M	1.2B	1.2B	1.1B	1B	962M
Stock-based compensation	24.6M	26.6M	29.4M	34M	36M	54M	49M	65M	77M	88M
Change in working capital	11.8M	-23.3M	-122.2M	-116.5M	4.4M	-137M	-1.1B	466M	-115M	-421M
Operating cash flow	511.9M	380.5M	417.7M	617.5M	640.4M	1.4B	-2.1B	-1.3B	891M	850M
Capital expenditure	-126.4M	-129M	-170.1M	-236M	-192M	-393M	-504M	-503M	-463M	—
Investing cash flow	-356.1M	-299.9M	-5B	-220M	-187M	-14M	747M	574M	331M	2.9B
Dividends paid	-184.9M	-206.1M	-230.2M	-314M	-323M	-667M	-810M	-826M	-514M	-409M
Share repurchases	-127.4M	-58.1M	-15.5M	0	0	—	—	—	—	-38M
Financing cash flow	-35.2M	-42.9M	4.9B	-506M	-512M	-1.4B	-1.6B	-2.1B	-1.6B	-3.1B
Net change in cash	120.5M	37.7M	278.5M	-108.5M	-58.6M	24M	-3B	-2.9B	-384M	624M
Free cash flow	423.7M	261.8M	264.2M	457M	522M	1B	-109M	936M	602M	254M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	27M	-2.6B	61M	172M	60M	-46M	-1B	612M	28M	31M	170M	51M
Depreciation & amortization	292M	287M	278M	246M	248M	243M	236M	242M	247M	237M	246M	218M
Stock-based compensation	18M	15M	18M	25M	16M	18M	19M	32M	21M	16M	16M	35M
Change in working capital	61M	412M	-212M	-26M	-17M	246M	48M	-379M	-193M	106M	-22M	-23M
Operating cash flow	359M	-2.2B	129M	345M	250M	273M	-780M	241M	164M	318M	257M	422M
Capital expenditure	-100M	-113M	-118M	-82M	-103M	-160M	-179M	—	—	—	—	—
Investing cash flow	86M	-64M	-78M	742M	-73M	-158M	-157M	2.8B	19M	10M	188M	-9M
Dividends paid	-206M	-207M	-207M	-102M	-102M	-103M	-102M	-102M	-102M	-103M	-102M	-102M
Share repurchases	—	—	—	—	—	—	—	—	—	—	-35M	-36M
Financing cash flow	-399M	-657M	40M	-813M	-421M	-162M	169M	-2.8B	-237M	-162M	-301M	-528M
Net change in cash	46M	-2.9B	91M	274M	-244M	-47M	-768M	211M	-54M	166M	144M	-115M
Free cash flow	320M	531M	-19M	155M	258M	208M	-52M	146M	30M	130M	92M	284M

Date	Ratio
Jan 20, 1994	3:1
Dec 17, 1974	102:100

International Flavors & Fragrances Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history