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International Flavors & Fragrances

IFF Clue Score29
United States Fiscal year ends December CIK 0000051253
$84.55 -0.12% Close, 9 Oct 2026
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Price $84.55 −39.61% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue3.12Operating income0.55Net income0.41EPS, diluted5.05Fiscal year 2017Revenue3.40 +9.1%Operating income0.55Net income0.30 −27.0%EPS, diluted3.72Fiscal year 2018Revenue3.98 +17.0%Operating income0.58Net income0.34 +14.9%EPS, diluted3.79Fiscal year 2019Revenue5.14 +29.2%Operating income0.67Net income0.46 +35.4%EPS, diluted4.00Fiscal year 2020Revenue5.08 −1.1%Operating income0.57Net income0.37 −20.2%EPS, diluted3.21Fiscal year 2021Revenue11.66 +129.3%Operating income0.59Net income0.28 −24.0%EPS, diluted1.10Fiscal year 2022Revenue12.44 +6.7%Operating income−1.33Net income−1.86 −768.1%EPS, diluted−7.32Fiscal year 2023Revenue11.48 −7.7%Operating income−2.11Net income−2.59EPS, diluted−10.14Fiscal year 2024Revenue11.48 +0.0%Operating income0.77Net income0.27EPS, diluted1.04Fiscal year 2025Revenue10.89 −5.2%Operating income−0.38Net income−0.36 −234.5%EPS, diluted−1.41
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 3.12 3.40 3.98 5.14 5.08 11.66 12.44 11.48 11.48 10.89
Growth +9.1% +17.0% +29.2% −1.1% +129.3% +6.7% −7.7% +0.0% −5.2%
Operating income 0.55 0.55 0.58 0.67 0.57 0.59 −1.33 −2.11 0.77 −0.38
Net income 0.41 0.30 0.34 0.46 0.37 0.28 −1.86 −2.59 0.27 −0.36
Growth −27.0% +14.9% +35.4% −20.2% −24.0% −768.1% −234.5%
EPS, diluted 5.05 3.72 3.79 4.00 3.21 1.10 −7.32 −10.14 1.04 −1.41

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin44.8%Operating margin17.7%Net margin13.0%Free cash flow margin13.6%Fiscal year 2017Gross margin43.3%Operating margin16.3%Net margin8.7%Free cash flow margin7.7%Fiscal year 2018Gross margin42.3%Operating margin14.7%Net margin8.5%Free cash flow margin6.7%Fiscal year 2019Gross margin41.1%Operating margin12.9%Net margin8.9%Free cash flow margin9.0%Fiscal year 2020Gross margin41.0%Operating margin11.1%Net margin7.2%Free cash flow margin10.3%Fiscal year 2021Gross margin32.0%Operating margin5.0%Net margin2.4%Free cash flow margin9.0%Fiscal year 2022Gross margin33.4%Operating margin−10.7%Net margin−15.0%Free cash flow margin−0.9%Fiscal year 2023Gross margin32.1%Operating margin−18.4%Net margin−22.5%Free cash flow margin8.3%Fiscal year 2024Gross margin35.9%Operating margin6.7%Net margin2.3%Free cash flow margin5.3%Fiscal year 2025Gross margin36.2%Operating margin−3.5%Net margin−3.3%Free cash flow margin2.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 44.8% 43.3% 42.3% 41.1% 41.0% 32.0% 33.4% 32.1% 35.9% 36.2%
Operating margin 17.7% 16.3% 14.7% 12.9% 11.1% 5.0% −10.7% −18.4% 6.7% −3.5%
Net margin 13.0% 8.7% 8.5% 8.9% 7.2% 2.4% −15.0% −22.5% 2.3% −3.3%
Free cash flow margin 13.6% 7.7% 6.7% 9.0% 10.3% 9.0% −0.9% 8.3% 5.3% 2.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow0.55Capital expenditure−0.13Free cash flow0.42Buybacks−0.13Dividends paid−0.18Fiscal year 2017Operating cash flow0.39Capital expenditure−0.13Free cash flow0.26 −38.2%Buybacks−0.06Dividends paid−0.21Fiscal year 2018Operating cash flow0.44Capital expenditure−0.17Free cash flow0.27 +2.2%Buybacks−0.02Dividends paid−0.23Fiscal year 2019Operating cash flow0.70Capital expenditure−0.24Free cash flow0.46 +73.1%Buybacks0.00Dividends paid−0.31Fiscal year 2020Operating cash flow0.71Capital expenditure−0.19Free cash flow0.52 +12.7%Buybacks0.00Dividends paid−0.32Fiscal year 2021Operating cash flow1.44Capital expenditure−0.39Free cash flow1.04 +100.0%Dividends paid−0.67Fiscal year 2022Operating cash flow0.40Capital expenditure−0.50Free cash flow−0.11 −110.2%Dividends paid−0.81Fiscal year 2023Operating cash flow1.46Capital expenditure−0.50Free cash flow0.95Buybacks0.00Dividends paid−0.83Fiscal year 2024Operating cash flow1.07Capital expenditure−0.46Free cash flow0.61 −36.2%Buybacks0.00Dividends paid−0.51Fiscal year 2025Operating cash flow0.85Capital expenditure−0.59Free cash flow0.26 −57.8%Buybacks−0.04Dividends paid−0.41
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.55 0.39 0.44 0.70 0.71 1.44 0.40 1.46 1.07 0.85
Capital expenditure −0.13 −0.13 −0.17 −0.24 −0.19 −0.39 −0.50 −0.50 −0.46 −0.59
Free cash flow 0.42 0.26 0.27 0.46 0.52 1.04 −0.11 0.95 0.61 0.26
Growth −38.2% +2.2% +73.1% +12.7% +100.0% −110.2% −36.2% −57.8%
Buybacks −0.13 −0.06 −0.02 0.00 0.00 n/a n/a 0.00 0.00 −0.04
Dividends paid −0.18 −0.21 −0.23 −0.31 −0.32 −0.67 −0.81 −0.83 −0.51 −0.41

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.32Total debt1.33Net cash (debt)−1.00Shareholders’ equity1.63Debt to equity0.81Fiscal year 2017Cash0.37Total debt1.64Net cash (debt)−1.27Shareholders’ equity1.68Debt to equity0.97Fiscal year 2018Cash0.63Total debt4.55Net cash (debt)−3.92Shareholders’ equity6.03Debt to equity0.75Fiscal year 2019Cash0.61Total debt4.38Net cash (debt)−3.78Shareholders’ equity6.22Debt to equity0.70Fiscal year 2020Cash0.65Total debt4.41Net cash (debt)−3.76Shareholders’ equity6.31Debt to equity0.70Fiscal year 2021Cash0.71Total debt11.40Net cash (debt)−10.69Shareholders’ equity21.08Debt to equity0.54Fiscal year 2022Cash0.48Total debt10.97Net cash (debt)−10.49Shareholders’ equity17.66Debt to equity0.62Fiscal year 2023Cash0.70Total debt10.07Net cash (debt)−9.37Shareholders’ equity14.61Debt to equity0.69Fiscal year 2024Cash0.47Total debt8.98Net cash (debt)−8.51Shareholders’ equity13.83Debt to equity0.65Fiscal year 2025Cash0.59Total debt5.99Net cash (debt)−5.40Shareholders’ equity14.15Debt to equity0.42
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.32 0.37 0.63 0.61 0.65 0.71 0.48 0.70 0.47 0.59
Total debt 1.33 1.64 4.55 4.38 4.41 11.40 10.97 10.07 8.98 5.99
Net cash (debt) −1.00 −1.27 −3.92 −3.78 −3.76 −10.69 −10.49 −9.37 −8.51 −5.40
Shareholders’ equity 1.63 1.68 6.03 6.22 6.31 21.08 17.66 14.61 13.83 14.15
Debt to equity 0.81 0.97 0.75 0.70 0.70 0.54 0.62 0.69 0.65 0.42

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
44.8% 43.3% 42.3% 41.1% 41.0% 32.0% 33.4% 32.1% 35.9% 36.2%
17.7% 16.3% 14.7% 12.9% 11.1% 5.0% −10.7% −18.4% 6.7% −3.5%
16.8% 15.8% 11.3% 10.8% 8.7% 3.0% −13.1% −21.9% 2.7% −3.8%
13.0% 8.7% 8.5% 8.9% 7.2% 2.4% −15.0% −22.5% 2.3% −3.3%
13.6% 7.7% 6.7% 9.0% 10.3% 9.0% −0.9% 8.3% 5.3% 2.4%
Spending
8.3% 8.7% 7.8% 6.7% 7.0% 5.4% 4.8% 5.5% 5.8% 6.4%
18.4% 16.8% 17.8% 17.0% 18.7% 15.0% 14.2% 15.6% 17.4% 16.8%
4.1% 3.8% 4.3% 4.6% 3.8% 3.4% 4.1% 4.4% 4.0% 5.5%
22.7% 44.9% 24.1% 17.4% 16.8% 21.2% n/a n/a 13.3% n/a
Returns
24.9% 17.6% 5.6% 7.4% 5.8% 1.3% −10.6% −17.7% 1.9% −2.5%
10.1% 6.4% 2.6% 3.5% 2.7% 0.7% −5.2% −8.4% 0.9% −1.4%
Balance and payout
0.81 0.97 0.75 0.70 0.70 0.54 0.62 0.69 0.65 0.42
45.7% 69.7% 67.8% 68.3% 88.0% 239.1% n/a n/a 192.5% n/a
73.7% 100.9% 91.9% 67.8% 61.9% 63.9% n/a 86.8% 84.7% 174.6%