International Flavors & Fragrances (IFF)

Materials · $20.6B market cap · SEC CIK 0000051253

Next reports on Feb 9, 2027, after the close, with analysts expecting $0.64 in earnings per share.

52-week range $61.73 to $95.27. 13% below its 52-week high and 35% above its low.

The case for IFF

• Has compounded revenue at 16.5% a year over five years.

The case against

• Expensive for its growth: 105.9× earnings, where 5% a year of growth would justify about 16×.
• Revenue fell 16.7% year over year.
• Long-term debt of $4.7B would take 6 years of operating cash flow to repay.
• Return on equity of only 1%.
• Net margin of 2.1% leaves very little room for error.
• Free cash flow is only 1.2% of its market value, a thin cash return for the price.

What the score is made of

Each factor is half a curve over reported figures and half a rank among the other Materials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.

• Its dividend figures disagree with each other (a 4.3% yield against about 1.3% implied by its payout ratio and P/E), so the dividend is not counted.
• Each factor except momentum is half fixed thresholds, half rank among the 26 Materials companies.

The financials

The financials, five years deep

Pulled from International Flavors & Fragrances's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.

What International Flavors & Fragrances says it does

We are a leading creator and manufacturer of products for application in food, beverage, health & biosciences, and scent, as well as complementary adjacent products, including natural health ingredients, all of which are used in a wide variety of consumer and end-use products. Our products are sold principally to manufacturers of dairy, meat, beverages, snacks, savory, sweet, baked goods, grain processors and other foods, personal care products, soaps and detergents, cleaning products, perfumes, dietary supplements, food protection, infant, elderly and animal nutrition, functional food, bio-fuel, and oral care products. As a result, we hold global leadership positions in the Food & Beverage, Home & Personal Care and Health & Wellness markets, and across key Tastes, Textures, Scents, Nutrition, Enzymes, Cultures, Soy Proteins and Probiotics categories, among others. Sales in 2025 were $10.890 billion. Our business is geographically…

Risk factors IFF lists in its 10-K

• Consumer demand and preferences, as well as regulatory trends may impact demand for our products, which may have a negative effect on our operating results and future growth
• Our business is highly competitive, and if we are unable to compete effectively, our sales and results of operations will suffer
• Our performance may be adversely impacted if we are not successful in managing our inventory and/or working capital balances
• Our results of operations may be negatively impacted by legal claims, disputes, investigations and litigation, including the ongoing antitrust and competition investigations and related class action lawsuits
• We are exposed to AI-related risks and opportunities that if we fail to properly manage, could result in material liabilities, or otherwise materially adversely affect our business, results of operations, and financial condition
• The impact of currency fluctuation or devaluation in the international markets in which we operate may negatively affect our results of operations
• International economic, political, legal, compliance and business factors could negatively affect our financial statements, operations and growth
• Our inability to recruit, retain or transition employees could adversely affect our ability to compete and achieve our strategic goals
• Any impairment of our tangible or intangible long-lived assets, including goodwill, may adversely impact our profitability
• Our ability to declare and pay dividends is subject to certain considerations
• Our funding obligations for our pension and postretirement plans could adversely affect our earnings and cash flows
• —Our results of operations may be negatively impacted by legal claims, disputes, investigations and litigation, including the ongoing antitrust and competition investigations and related class action lawsuits
• Our ability to compete effectively depends on our ability to protect our intellectual property rights
• “—We are exposed to AI-related risks and opportunities that if we fail to properly manage, could materially adversely affect our business, results of operations, and financial condition.”
• Changes in our tax rates, the adoption of new U.S. or international tax legislation, or changes in existing tax laws could expose us to additional tax liabilities that may affect our future results
• The N&B Transaction could result in significant tax liability, and we may be obligated to indemnify DuPont for any such tax liability imposed on DuPont
• If we fail to comply with data protection laws in the U.S. and abroad, we may be subject to fines, penalties and other costs

Filings

Other Materials companies