International Flavors & Fragrances (IFF) Financials

$73.43 +0.26 (+0.36%)

As of 03:58 PM Eastern

Annual Income Statements for International Flavors & Fragrances

This table shows International Flavors & Fragrances' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	419	405	296	337	456	363	270	-1,871	-2,567	243
Consolidated Net Income / (Loss)	419	405	296	340	460	367	279	-1,864	-2,563	247
Net Income / (Loss) Continuing Operations	419	405	296	340	460	367	279	-1,864	-2,563	247
Total Pre-Tax Income	539	524	537	448	557	441	354	-1,625	-2,518	278
Total Operating Income	588	553	553	584	665	566	585	-1,326	-2,110	766
Total Gross Profit	1,352	1,396	1,472	1,683	2,113	2,086	3,735	4,151	3,681	4,124
Total Revenue	3,023	3,116	3,399	3,978	5,140	5,084	11,656	12,440	11,479	11,484
Operating Revenue	3,023	3,116	3,399	3,978	5,140	5,084	11,656	12,440	11,479	11,484
Total Cost of Revenue	1,672	1,721	1,926	2,295	3,027	2,998	7,921	8,289	7,798	7,360
Operating Cost of Revenue	1,672	1,721	1,926	2,295	3,027	2,998	7,921	8,289	7,798	7,360
Total Operating Expenses	763	843	920	1,099	1,448	1,520	3,150	5,477	5,791	3,358
Selling, General & Admin Expense	495	573	570	707	876	949	1,749	1,768	1,787	1,995
Research & Development Expense	246	259	295	312	346	357	629	603	636	671
Amortization Expense	15	24	35	76	193	193	732	727	680	610
Impairment Charge	-	-	-	-	-	0.00	0.00	2,370	2,623	64
Restructuring Charge	7.59	-1.70	20	5.08	30	17	41	12	68	29
Other Special Charges / (Income)	0.00	-11	-0.18	-1.18	3.00	4.00	-1.00	-3.00	-3.00	-11
Total Other Income / (Expense), net	-49	-29	-16	-136	-108	-125	-231	-299	-408	-488
Interest Expense	46	53	65	171	138	132	289	336	380	305
Other Income / (Expense), net	-3.18	24	50	35	30	7.00	58	37	-28	-183
Income Tax Expense	120	119	241	108	97	74	75	239	45	31
Net Income / (Loss) Attributable to Noncontrolling Interest	-	0.00	0.00	2.48	4.00	4.00	9.00	7.00	4.00	4.00
Basic Earnings per Share	$5.19	$5.07	$3.73	$3.81	$4.05	$3.25	$1.11	($7.32)	($10.05)	$0.95
Weighted Average Basic Shares Outstanding	80.45M	79.65M	79.07M	87.55M	112M	112M	243M	255M	255M	256M
Diluted Earnings per Share	$5.16	$5.05	$3.72	$3.79	$4.00	$3.21	$1.10	($7.32)	($10.05)	$0.95
Weighted Average Diluted Shares Outstanding	80.89M	79.98M	79.37M	88.12M	113M	114M	243M	255M	255M	256M
Weighted Average Basic & Diluted Shares Outstanding	80.45M	79.90M	79.30M	106.63M	106.80M	248.73M	254.68M	255.06M	255.31M	255.71M
Cash Dividends to Common per Share	$2.06	$2.40	$2.66	$2.84	$2.96	$3.04	$3.12	$3.20	$3.24	$1.60

This table shows International Flavors & Fragrances' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	-2,197	-25	-9.00	27	25	-2,610	60	452	59	-328
Consolidated Net Income / (Loss)	-2,195	-24	-8.00	27	27	-2,609	61	172	60	-46
Net Income / (Loss) Continuing Operations	-2,195	-24	-8.00	27	27	-2,609	61	454	60	-328
Total Pre-Tax Income	-2,035	-5.00	14	50	59	-2,641	115	183	95	-115
Total Operating Income	-1,985	105	131	145	150	-2,536	199	191	249	127
Total Gross Profit	1,001	869	964	933	924	860	1,024	1,068	1,052	980
Total Revenue	3,063	2,844	3,027	2,929	2,820	2,703	2,899	2,889	2,925	2,771
Operating Revenue	3,063	2,844	3,027	2,929	2,820	2,703	2,899	2,889	2,925	2,771
Total Cost of Revenue	2,062	1,975	2,063	1,996	1,896	1,843	1,875	1,821	1,873	1,791
Operating Cost of Revenue	2,062	1,975	2,063	1,996	1,896	1,843	1,875	1,821	1,873	1,791
Total Operating Expenses	2,986	764	833	788	774	3,396	825	877	803	853
Selling, General & Admin Expense	413	440	454	445	444	444	490	493	495	517
Research & Development Expense	145	143	161	161	157	157	166	173	162	170
Amortization Expense	182	175	171	172	170	167	168	153	146	143
Restructuring Charge	-4.00	7.00	52	7.00	2.00	7.00	3.00	2.00	1.00	23
Total Other Income / (Expense), net	-50	-110	-117	-95	-91	-105	-84	274	-154	-524
Interest Expense	83	104	100	101	90	89	83	79	74	69
Other Income / (Expense), net	33	-6.00	-17	6.00	-1.00	-16	-1.00	353	-80	-455
Income Tax Expense	160	19	22	23	32	-32	54	11	35	-69
Basic Earnings per Share	($8.60)	($0.11)	($0.04)	$0.11	$0.10	($10.22)	$0.23	$0.67	$0.23	($0.18)
Weighted Average Basic Shares Outstanding	255M	255M	255M	255M	255M	255M	255M	255M	256M	256M
Diluted Earnings per Share	($8.60)	($0.11)	($0.04)	$0.11	$0.10	($10.22)	$0.23	$0.66	$0.23	($0.17)
Weighted Average Diluted Shares Outstanding	255M	255M	255M	255M	256M	255M	256M	256M	257M	256M
Weighted Average Basic & Diluted Shares Outstanding	254.96M	255.06M	255.09M	255.25M	255.28M	255.31M	255.35M	255.66M	255.68M	255.71M

This table details how cash moves in and out of International Flavors & Fragrances' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-297	142	44	280	-25	36	56	-164	183	-264
Net Cash From Operating Activities	467	550	391	438	699	714	1,437	397	1,439	1,070
Net Cash From Continuing Operating Activities	467	550	391	438	699	714	1,437	397	1,439	1,070
Net Income / (Loss) Continuing Operations	419	405	296	340	460	367	279	-1,864	-2,563	247
Consolidated Net Income / (Loss)	419	405	296	340	460	367	279	-1,864	-2,563	247
Depreciation Expense	90	102	118	174	323	325	1,156	1,179	1,142	1,015
Non-Cash Adjustments To Reconcile Net Income	23	14	-42	55	36	40	40	2,386	2,752	-91
Changes in Operating Assets and Liabilities, net	-64	29	19	-131	-120	-18	-406	-1,304	108	-101
Net Cash From Investing Activities	-577	-355	-300	-5,013	-226	-187	-18	745	574	326
Net Cash From Continuing Investing Activities	-577	-355	-300	-5,013	-226	-187	-18	745	574	326
Purchase of Property, Plant & Equipment	-101	-126	-129	-170	-236	-192	-393	-504	-503	-463
Acquisitions	-493	-237	-192	-4,861	-55	0.00	-4.00	-112	0.00	-5.00
Purchase of Investments	-	0.64	-	-2.64	0.00	-14	-	0.00	0.00	-102
Sale of Property, Plant & Equipment	4.30	6.86	16	8.18	42	17	18	8.00	27	21
Divestitures	-	0.00	0.00	10	0.00	0.00	115	1,169	1,050	875
Sale and/or Maturity of Investments	12	-	1.43	0.00	26	0.00	0.00	173	0.00	0.00
Other Investing Activities, net	0.87	0.29	3.80	1.84	-3.00	2.00	246	11	0.00	0.00
Net Cash From Financing Activities	-165	-34	-43	4,871	-505	-512	-1,304	-1,229	-1,851	-1,606
Net Cash From Continuing Financing Activities	-165	-34	-43	4,871	-505	-512	-1,304	-1,229	-1,851	-1,606
Repayment of Debt	138	-262	-260	-411	-155	-350	-927	-624	-767	-1,040
Repurchase of Common Equity	-122	-127	-58	-15	0.00	-22	0.00	-47	-39	0.00
Payment of Dividends	-159	-185	-206	-230	-314	-323	-669	-810	-839	-514
Issuance of Debt	0.00	556	498	3,257	-1.00	200	327	273	-187	0.00
Other Financing Activities, net	-23	-17	-17	2,271	-35	-17	-35	-21	-19	-52
Other Net Changes in Cash	-	-	-	-	-	-	-59	-	21	-54
Cash Interest Paid	47	51	55	118	134	128	310	310	370	308
Cash Income Taxes Paid	103	108	107	116	126	133	289	329	578	370

This table details how cash moves in and out of International Flavors & Fragrances' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-2,167	2,097	65	35	10	73	36	-123	-133	-44
Net Cash From Operating Activities	240	208	127	248	420	644	99	237	366	368
Net Cash From Continuing Operating Activities	-2,010	2,458	127	248	420	644	99	173	366	432
Net Income / (Loss) Continuing Operations	-2,195	-24	-8.00	27	27	-2,609	61	172	60	-46
Consolidated Net Income / (Loss)	-2,195	-24	-8.00	27	27	-2,609	61	172	60	-46
Depreciation Expense	293	282	276	287	292	287	278	246	248	243
Non-Cash Adjustments To Reconcile Net Income	-2.00	2,245	21	72	47	2,612	16	-69	67	-105
Changes in Operating Assets and Liabilities, net	-106	-45	-162	-138	54	354	-256	-176	-9.00	340
Net Cash From Investing Activities	1,233	-142	-167	719	86	-64	-78	742	-78	-260
Net Cash From Continuing Investing Activities	1,233	-142	-167	719	86	-64	-78	742	-78	-260
Purchase of Property, Plant & Equipment	-108	-160	-175	-115	-100	-113	-118	-82	-103	-160
Sale of Property, Plant & Equipment	-3.00	7.00	7.00	14	1.00	5.00	3.00	13	2.00	3.00
Divestitures	1,158	11	1.00	820	185	44	37	811	28	-1.00
Net Cash From Financing Activities	-1,464	-142	78	-944	-427	-558	40	-1,063	-421	-162
Net Cash From Continuing Financing Activities	-1,464	-142	78	-944	-421	-564	40	-1,063	-421	-162
Repayment of Debt	-730	-1.00	-103	-305	-61	-298	-585	-268	-129	-58
Payment of Dividends	-202	-206	-206	-207	-206	-220	-207	-102	-102	-103
Other Financing Activities, net	-	-1.00	-6.00	-11	5.00	-7.00	-1.00	-49	-1.00	-1.00
Cash Interest Paid	56	111	66	125	70	109	61	97	58	92
Cash Income Taxes Paid	49	53	227	177	46	128	53	132	63	122

This table presents International Flavors & Fragrances' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	3,702	4,017	4,599	12,889	13,287	13,555	39,658	35,522	30,978	28,667
Total Current Assets	1,437	1,609	1,897	2,942	2,943	3,060	6,987	7,432	6,293	7,993
Cash & Equivalents	182	324	368	635	607	650	711	483	709	469
Accounts Receivable	538	551	664	938	876	929	1,906	1,818	1,726	1,624
Inventories, net	572	592	649	1,079	1,123	1,132	2,516	3,151	2,477	2,133
Other Current Assets	145	142	215	277	319	342	728	770	875	737
Other Current Nonoperating Assets	-	-	-	-	-	0.00	1,122	1,200	506	3,030
Plant, Property, & Equipment, net	733	776	881	1,241	1,387	1,458	4,368	4,203	4,240	3,739
Total Noncurrent Assets	1,532	1,632	1,822	8,706	8,958	9,037	28,303	23,887	20,445	16,935
Goodwill	941	1,000	1,156	5,378	5,498	5,593	16,414	13,373	10,635	9,080
Intangible Assets	306	366	416	3,039	2,852	2,727	10,506	9,082	8,357	6,445
Other Noncurrent Operating Assets	118	128	250	289	608	717	1,383	1,432	1,453	1,410
Total Liabilities & Shareholders' Equity	3,702	4,017	4,599	12,889	13,287	13,555	39,658	35,522	30,978	28,667
Total Liabilities	2,107	2,386	2,910	6,764	6,959	7,135	18,436	17,591	16,336	14,756
Total Current Liabilities	725	898	769	1,128	1,552	1,904	3,633	3,728	3,758	4,333
Short-Term Debt	132	259	6.97	49	385	634	632	410	885	1,413
Accounts Payable	286	275	338	471	510	556	1,532	1,418	1,378	1,283
Dividends Payable	45	51	54	78	80	82	201	206	207	102
Current Employee Benefit Liabilities	-	-	-	-	-	133	335	267	265	420
Other Current Liabilities	262	314	369	531	577	499	832	1,028	977	783
Other Current Nonoperating Liabilities	-	-	-	-	-	0.00	101	212	46	332
Total Noncurrent Liabilities	1,382	1,488	2,141	5,636	5,407	5,231	14,803	14,050	12,578	10,423
Long-Term Debt	935	1,067	1,632	4,504	3,997	3,779	10,768	10,373	9,186	7,564
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	51	656	641	593	2,518	2,283	1,937	1,592
Noncurrent Employee Benefit Liabilities	242	243	229	227	265	326	385	231	253	167
Other Noncurrent Operating Liabilities	161	137	191	248	502	533	1,132	1,163	1,202	1,100
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,595	1,631	1,689	6,043	6,230	6,322	21,117	17,685	14,642	13,911
Total Preferred & Common Equity	1,590	1,626	1,684	6,033	6,217	6,310	21,082	17,655	14,611	13,876
Total Common Equity	1,590	1,626	1,684	6,033	6,217	6,310	21,082	17,655	14,611	13,876
Common Stock	155	167	177	3,810	3,839	3,869	19,861	19,876	19,909	19,952
Retained Earnings	3,604	3,819	3,871	3,956	4,118	4,156	3,641	955	-2,439	-2,605
Treasury Stock	-1,556	-1,679	-1,726	-1,031	-1,023	-1,017	-997	-978	-963	-944
Accumulated Other Comprehensive Income / (Loss)	-613	-680	-637	-702	-717	-698	-1,423	-2,198	-1,896	-2,527
Noncontrolling Interest	4.67	4.89	5.09	10	12	12	35	30	31	35

This table presents International Flavors & Fragrances' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	34,537	35,522	35,470	34,459	33,395	30,978	30,642	29,543	29,928	28,667
Total Current Assets	6,494	7,432	7,442	6,436	6,391	6,293	6,407	8,149	8,423	7,993
Cash & Equivalents	538	483	590	638	629	709	732	671	567	469
Accounts Receivable	2,031	1,818	1,899	1,887	1,831	1,726	1,977	1,775	1,772	1,624
Inventories, net	3,122	3,151	2,946	2,790	2,549	2,477	2,411	2,160	2,200	2,133
Other Current Assets	793	770	789	898	890	875	771	728	770	737
Other Current Nonoperating Assets	0.00	1,200	1,202	212	482	506	509	2,815	3,114	3,030
Plant, Property, & Equipment, net	4,055	4,203	4,224	4,218	4,126	4,240	4,145	3,763	3,772	3,739
Total Noncurrent Assets	23,988	23,887	23,804	23,805	22,878	20,445	20,090	17,631	17,733	16,935
Goodwill	13,305	13,373	13,458	13,498	13,031	10,635	10,538	9,282	9,349	9,080
Intangible Assets	9,386	9,082	8,968	8,813	8,381	8,357	8,116	6,881	6,770	6,445
Other Noncurrent Operating Assets	1,297	1,432	1,378	1,494	1,466	1,453	1,436	1,468	1,614	1,410
Total Liabilities & Shareholders' Equity	34,537	35,522	35,470	34,459	33,395	30,978	30,642	29,543	29,928	28,667
Total Liabilities	17,548	17,591	17,621	16,743	16,326	16,336	16,316	15,252	15,118	14,756
Total Current Liabilities	3,626	3,728	4,874	3,932	3,683	3,758	3,820	3,425	3,218	4,333
Short-Term Debt	512	410	2,071	1,362	1,142	885	1,148	783	468	1,413
Accounts Payable	1,527	1,418	1,197	1,227	1,112	1,378	1,346	1,272	1,211	1,283
Dividends Payable	206	206	207	206	207	207	102	102	102	102
Current Employee Benefit Liabilities	253	267	218	205	236	265	222	275	382	420
Other Current Liabilities	1,128	1,028	965	919	937	977	956	762	751	783
Other Current Nonoperating Liabilities	0.00	212	216	13	49	46	46	231	304	332
Total Noncurrent Liabilities	13,922	14,050	12,747	12,811	12,643	12,578	12,496	11,827	11,900	10,423
Long-Term Debt	10,260	10,373	9,220	9,208	9,159	9,186	9,150	8,596	8,631	7,564
Noncurrent Deferred & Payable Income Tax Liabilities	2,280	2,283	2,229	2,183	2,127	1,937	1,916	1,833	1,869	1,592
Noncurrent Employee Benefit Liabilities	354	231	235	233	228	253	252	206	182	167
Other Noncurrent Operating Liabilities	1,028	1,163	1,063	1,187	1,129	1,202	1,178	1,192	1,218	1,100
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	16,921	17,685	17,790	17,655	17,009	14,642	14,326	14,291	14,810	13,911
Total Preferred & Common Equity	16,887	17,655	17,758	17,623	16,978	14,611	14,291	14,254	14,775	13,876
Total Common Equity	16,887	17,655	17,758	17,623	16,978	14,611	14,291	14,254	14,775	13,876
Common Stock	19,867	19,876	19,879	19,886	19,900	19,909	19,924	19,929	19,937	19,952
Retained Earnings	1,186	955	739	560	378	-2,439	-2,481	-2,414	-2,457	-2,605
Treasury Stock	-979	-978	-973	-966	-964	-963	-961	-946	-945	-944
Accumulated Other Comprehensive Income / (Loss)	-3,187	-2,198	-1,887	-1,857	-2,336	-1,896	-2,191	-2,315	-1,760	-2,527
Noncontrolling Interest	34	30	32	32	31	31	35	37	35	35

This table displays calculated financial ratios and metrics derived from International Flavors & Fragrances' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.12%	3.08%	9.06%	17.03%	29.23%	-1.09%	129.27%	6.73%	-7.73%	0.04%
EBITDA Growth	-1.42%	0.65%	6.07%	10.07%	28.39%	-11.79%	141.31%	-105.08%	-805.45%	260.44%
EBIT Growth	-1.67%	-1.45%	4.46%	2.78%	12.26%	-17.55%	12.22%	-300.47%	-65.87%	127.27%
NOPAT Growth	2.31%	-6.54%	-28.86%	45.63%	23.95%	-14.23%	-2.12%	-301.32%	-59.13%	146.08%
Net Income Growth	1.13%	-3.39%	-27.00%	14.92%	35.38%	-20.22%	-23.98%	-768.10%	-37.50%	109.64%
EPS Growth	1.98%	-2.13%	-26.34%	1.88%	5.54%	-19.75%	-65.73%	-765.45%	-37.30%	109.45%
Operating Cash Flow Growth	-9.85%	17.72%	-28.97%	11.98%	59.74%	2.15%	101.26%	-72.37%	262.47%	-25.64%
Free Cash Flow Firm Growth	-109.09%	778.16%	-109.11%	-26,442.62%	107.40%	-22.37%	-5,458.50%	113.35%	-18.71%	108.44%
Invested Capital Growth	24.04%	6.00%	12.09%	231.16%	0.59%	0.89%	203.05%	-11.73%	-13.44%	-16.54%
Revenue Q/Q Growth	-1.32%	1.53%	2.78%	10.09%	1.27%	-0.27%	17.80%	-1.48%	-1.21%	0.60%
EBITDA Q/Q Growth	-1.64%	0.60%	2.92%	2.51%	3.68%	-2.81%	15.70%	-1,122.22%	-160.36%	374.57%
EBIT Q/Q Growth	-2.51%	0.21%	2.60%	-4.01%	3.93%	-3.28%	13.20%	-7.33%	-516.76%	135.53%
NOPAT Q/Q Growth	-1.48%	-4.60%	-26.74%	26.86%	13.76%	-2.81%	13.54%	-5.41%	-1,591.92%	151.25%
Net Income Q/Q Growth	-2.55%	0.19%	-28.88%	19.59%	16.34%	-3.70%	10.28%	-6.64%	-11,750.00%	110.66%
EPS Q/Q Growth	-2.09%	0.20%	-28.74%	6.76%	32.01%	-4.18%	-10.57%	-8.12%	-16,850.00%	110.44%
Operating Cash Flow Q/Q Growth	-5.70%	6.94%	-4.18%	11.28%	12.99%	-2.32%	0.84%	-20.60%	43.47%	-20.51%
Free Cash Flow Firm Q/Q Growth	-123.48%	-29.88%	82.30%	-2,193.02%	107.58%	-25.97%	2.20%	-10.93%	118.26%	1.44%
Invested Capital Q/Q Growth	0.35%	4.00%	-3.85%	215.11%	0.16%	1.35%	-0.85%	0.07%	-10.39%	-3.93%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	44.71%	44.78%	43.32%	42.31%	41.11%	41.03%	32.04%	33.37%	32.07%	35.91%
EBITDA Margin	22.32%	21.79%	21.20%	19.93%	19.81%	17.66%	18.59%	-0.88%	-8.68%	13.92%
Operating Margin	19.46%	17.74%	16.26%	14.68%	12.94%	11.13%	5.02%	-10.66%	-18.38%	6.67%
EBIT Margin	19.36%	18.51%	17.72%	15.57%	13.52%	11.27%	5.52%	-10.36%	-18.63%	5.08%
Profit (Net Income) Margin	13.87%	13.00%	8.70%	8.54%	8.95%	7.22%	2.39%	-14.98%	-22.33%	2.15%
Tax Burden Percent	77.77%	77.34%	55.05%	75.89%	82.59%	83.22%	78.81%	114.71%	101.79%	88.85%
Interest Burden Percent	92.13%	90.81%	89.15%	72.32%	80.14%	76.96%	55.05%	126.07%	117.77%	47.68%
Effective Tax Rate	22.23%	22.66%	44.95%	24.11%	17.41%	16.78%	21.19%	0.00%	0.00%	11.15%
Return on Invested Capital (ROIC)	19.72%	16.16%	10.54%	6.73%	5.42%	4.61%	2.23%	-3.17%	-5.77%	3.12%
ROIC Less NNEP Spread (ROIC-NNEP)	14.69%	13.97%	9.84%	2.87%	3.14%	1.90%	-0.43%	-12.74%	-17.32%	-2.65%
Return on Net Nonoperating Assets (RNNOA)	7.17%	8.95%	7.27%	1.96%	1.97%	1.15%	-0.21%	-6.40%	-10.06%	-1.39%
Return on Equity (ROE)	26.89%	25.11%	17.81%	8.70%	7.39%	5.76%	2.02%	-9.57%	-15.83%	1.73%
Cash Return on Invested Capital (CROIC)	-1.74%	10.33%	-0.86%	-100.49%	4.83%	3.72%	-98.53%	9.29%	8.64%	21.15%
Operating Return on Assets (OROA)	16.26%	14.94%	13.98%	7.08%	5.31%	4.27%	2.42%	-3.43%	-6.43%	1.95%
Return on Assets (ROA)	11.65%	10.49%	6.86%	3.89%	3.51%	2.73%	1.05%	-4.96%	-7.71%	0.83%
Return on Common Equity (ROCE)	26.82%	25.04%	17.76%	8.59%	7.27%	5.66%	2.00%	-9.51%	-15.77%	1.73%
Return on Equity Simple (ROE_SIMPLE)	26.36%	24.91%	17.56%	5.63%	7.40%	5.82%	1.32%	-10.56%	-17.54%	1.78%
Net Operating Profit after Tax (NOPAT)	458	428	304	443	549	471	461	-928	-1,477	681
NOPAT Margin	15.13%	13.72%	8.95%	11.14%	10.68%	9.26%	3.96%	-7.46%	-12.87%	5.93%
Net Nonoperating Expense Percent (NNEP)	5.03%	2.19%	0.70%	3.87%	2.28%	2.71%	2.66%	9.57%	11.55%	5.77%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-3.26%	-5.98%	2.97%
Cost of Revenue to Revenue	55.29%	55.22%	56.68%	57.69%	58.89%	58.97%	67.96%	66.63%	67.93%	64.09%
SG&A Expenses to Revenue	16.36%	18.37%	16.78%	17.79%	17.04%	18.67%	15.01%	14.21%	15.57%	17.37%
R&D to Revenue	8.14%	8.31%	8.69%	7.83%	6.73%	7.02%	5.40%	4.85%	5.54%	5.84%
Operating Expenses to Revenue	25.25%	27.04%	27.06%	27.63%	28.17%	29.90%	27.02%	44.03%	50.45%	29.24%
Earnings before Interest and Taxes (EBIT)	585	577	602	619	695	573	643	-1,289	-2,138	583
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	675	679	720	793	1,018	898	2,167	-110	-996	1,598
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.89	4.75	6.02	2.04	1.95	1.67	1.68	1.43	1.39	1.56
Price to Tangible Book Value (P/TBV)	22.66	29.66	90.36	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.57	2.48	2.98	3.09	2.36	2.07	3.04	2.03	1.77	1.88
Price to Earnings (P/E)	18.53	19.06	34.27	36.46	26.55	28.95	131.12	0.00	0.00	88.96
Dividend Yield	2.13%	2.47%	2.07%	2.46%	2.61%	3.09%	2.24%	3.24%	4.07%	1.89%
Earnings Yield	5.40%	5.25%	2.92%	2.74%	3.77%	3.45%	0.76%	0.00%	0.00%	1.12%
Enterprise Value to Invested Capital (EV/IC)	3.39	3.22	3.75	1.61	1.57	1.40	1.49	1.30	1.25	1.52
Enterprise Value to Revenue (EV/Rev)	2.88	2.81	3.37	4.10	3.11	2.83	3.97	2.86	2.59	2.63
Enterprise Value to EBITDA (EV/EBITDA)	12.90	12.91	15.89	20.55	15.69	16.01	21.33	0.00	0.00	18.87
Enterprise Value to EBIT (EV/EBIT)	14.87	15.20	19.00	26.32	22.99	25.08	71.89	0.00	0.00	51.73
Enterprise Value to NOPAT (EV/NOPAT)	19.02	20.50	37.62	36.77	29.09	30.52	100.27	0.00	0.00	44.32
Enterprise Value to Operating Cash Flow (EV/OCF)	18.63	15.94	29.29	37.24	22.86	20.13	32.17	89.60	20.64	28.19
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	32.06	0.00	0.00	32.63	37.81	0.00	13.08	13.43	6.54
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.70	0.84	0.99	0.74	0.69	0.69	0.54	0.61	0.69	0.65
Long-Term Debt to Equity	0.61	0.68	0.99	0.74	0.63	0.59	0.51	0.58	0.63	0.54
Financial Leverage	0.49	0.64	0.74	0.68	0.63	0.60	0.50	0.50	0.58	0.53
Leverage Ratio	2.31	2.39	2.59	2.24	2.10	2.11	1.93	1.93	2.05	2.09
Compound Leverage Factor	2.13	2.17	2.31	1.62	1.68	1.62	1.06	2.43	2.42	1.00
Debt to Total Capital	41.06%	45.56%	49.81%	42.64%	40.92%	40.74%	34.95%	37.80%	40.75%	39.22%
Short-Term Debt to Total Capital	4.89%	8.63%	0.21%	0.46%	3.59%	5.85%	1.94%	1.44%	3.58%	6.17%
Long-Term Debt to Total Capital	36.17%	36.93%	49.60%	42.18%	37.32%	34.88%	33.01%	36.36%	37.17%	33.05%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.17%	0.16%	0.15%	0.86%	1.04%	1.02%	0.43%	0.31%	0.13%	0.15%
Common Equity to Total Capital	58.77%	54.27%	50.04%	56.50%	58.05%	58.25%	64.63%	61.89%	59.12%	60.63%
Debt to EBITDA	1.65	2.01	2.33	5.74	4.30	4.91	5.26	-98.03	-10.11	5.62
Net Debt to EBITDA	1.38	1.53	1.82	4.92	3.69	4.18	4.93	-93.55	-9.40	5.32
Long-Term Debt to EBITDA	1.45	1.63	2.32	5.68	3.93	4.21	4.97	-94.30	-9.22	4.73
Debt to NOPAT	2.43	3.19	5.51	10.28	7.98	9.37	24.73	-11.62	-6.82	13.19
Net Debt to NOPAT	2.03	2.43	4.30	8.81	6.84	7.97	23.17	-11.09	-6.34	12.50
Long-Term Debt to NOPAT	2.14	2.59	5.49	10.17	7.28	8.02	23.35	-11.18	-6.22	11.11
Altman Z-Score	5.14	4.73	4.73	2.16	2.16	1.93	1.73	1.25	0.88	1.37
Noncontrolling Interest Sharing Ratio	0.28%	0.30%	0.30%	1.25%	1.63%	1.74%	0.90%	0.59%	0.37%	0.23%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.98	1.79	2.47	2.61	1.90	1.61	1.92	1.99	1.67	1.84
Quick Ratio	0.99	0.97	1.34	1.39	0.96	0.83	0.72	0.62	0.65	0.48
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-40	273	-25	-6,612	490	380	-20,368	2,720	2,211	4,609
Operating Cash Flow to CapEx	483.12%	460.15%	346.31%	270.24%	360.31%	408.00%	383.20%	80.04%	302.31%	242.08%
Free Cash Flow to Firm to Interest Expense	-0.88	5.16	-0.38	-38.59	3.55	2.88	-70.48	8.09	5.82	15.11
Operating Cash Flow to Interest Expense	10.15	10.38	5.98	2.55	5.07	5.41	4.97	1.18	3.79	3.51
Operating Cash Flow Less CapEx to Interest Expense	8.05	8.13	4.25	1.61	3.66	4.08	3.67	-0.29	2.53	2.06
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.84	0.81	0.79	0.45	0.39	0.38	0.44	0.33	0.35	0.39
Accounts Receivable Turnover	5.86	5.73	5.60	4.97	5.67	5.63	8.22	6.68	6.48	6.86
Inventory Turnover	2.93	2.96	3.10	2.66	2.75	2.66	4.34	2.93	2.77	3.19
Fixed Asset Turnover	4.16	4.13	4.10	3.75	3.91	3.57	4.00	2.90	2.72	2.88
Accounts Payable Turnover	6.67	6.14	6.28	5.67	6.17	5.62	7.59	5.62	5.58	5.53
Days Sales Outstanding (DSO)	62.28	63.75	65.21	73.48	64.41	64.80	44.39	54.63	56.34	53.24
Days Inventory Outstanding (DIO)	124.55	123.46	117.62	137.42	132.74	137.27	84.05	124.77	131.71	114.31
Days Payable Outstanding (DPO)	54.76	59.42	58.08	64.38	59.19	64.91	48.11	64.95	65.44	65.98
Cash Conversion Cycle (CCC)	132.07	127.78	124.75	146.52	137.95	137.16	80.33	114.45	122.62	101.56
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,569	2,723	3,052	10,107	10,167	10,258	31,087	27,439	23,751	19,823
Invested Capital Turnover	1.30	1.18	1.18	0.60	0.51	0.50	0.56	0.43	0.45	0.53
Increase / (Decrease) in Invested Capital	498	154	329	7,055	60	91	20,829	-3,648	-3,688	-3,928
Enterprise Value (EV)	8,704	8,767	11,446	16,294	15,976	14,373	46,228	35,571	29,705	30,161
Market Capitalization	7,770	7,721	10,132	12,297	12,106	10,507	35,403	25,192	20,312	21,618
Book Value per Share	$19.82	$20.48	$21.33	$56.58	$58.23	$59.01	$82.82	$69.25	$57.24	$54.27
Tangible Book Value per Share	$4.27	$3.28	$1.42	($22.37)	($19.97)	($18.80)	($22.93)	($18.83)	($17.16)	($6.45)
Total Capital	2,706	2,996	3,366	10,678	10,711	10,833	32,622	28,527	24,713	22,888
Total Debt	1,111	1,365	1,676	4,553	4,382	4,413	11,400	10,783	10,071	8,977
Total Long-Term Debt	979	1,107	1,670	4,504	3,997	3,779	10,768	10,373	9,186	7,564
Net Debt	929	1,041	1,308	3,905	3,758	3,756	10,685	10,290	9,362	8,508
Capital Expenditures (CapEx)	97	120	113	162	194	175	375	496	476	442
Debt-free, Cash-free Net Working Capital (DFCFNWC)	662	645	767	1,214	1,151	1,133	3,271	3,621	2,711	4,604
Debt-free Net Working Capital (DFNWC)	844	969	1,135	1,862	1,775	1,790	3,986	4,114	3,420	5,073
Net Working Capital (NWC)	712	711	1,128	1,814	1,390	1,156	3,354	3,704	2,535	3,660
Net Nonoperating Expense (NNE)	38	23	8.58	103	89	104	182	936	1,086	434
Net Nonoperating Obligations (NNO)	974	1,092	1,363	3,982	3,838	3,838	9,865	9,695	9,109	5,912
Total Depreciation and Amortization (D&A)	90	102	118	174	323	325	1,524	1,179	1,142	1,015
Debt-free, Cash-free Net Working Capital to Revenue	21.91%	20.71%	22.56%	30.51%	22.40%	22.29%	28.06%	29.11%	23.62%	40.09%
Debt-free Net Working Capital to Revenue	27.93%	31.10%	33.39%	46.82%	34.54%	35.21%	34.20%	33.07%	29.79%	44.17%
Net Working Capital to Revenue	23.55%	22.81%	33.18%	45.59%	27.05%	22.74%	28.77%	29.77%	22.08%	31.87%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.19	$5.07	$3.73	$3.81	$4.05	$3.25	$1.11	($7.32)	($10.05)	$0.95
Adjusted Weighted Average Basic Shares Outstanding	79.87M	79.04M	79.07M	87.55M	111.97M	112.16M	243M	255M	255M	256M
Adjusted Diluted Earnings per Share	$5.16	$5.05	$3.72	$3.79	$4.00	$3.21	$1.10	($7.32)	($10.05)	$0.95
Adjusted Weighted Average Diluted Shares Outstanding	79.87M	79.04M	79.37M	88.12M	113.31M	113.63M	243M	255M	255M	256M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	79.87M	79.04M	78.93M	106.63M	106.80M	248.73M	254.68M	255.06M	255.31M	255.71M
Normalized Net Operating Profit after Tax (NOPAT)	463	418	315	446	576	489	493	737	405	753
Normalized NOPAT Margin	15.33%	13.41%	9.27%	11.21%	11.21%	9.61%	4.23%	5.93%	3.52%	6.56%
Pre Tax Income Margin	17.83%	16.81%	15.80%	11.26%	10.84%	8.67%	3.04%	-13.06%	-21.94%	2.42%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	12.70	10.88	9.22	3.61	5.04	4.34	2.22	-3.84	-5.63	1.91
NOPAT to Interest Expense	9.93	8.07	4.65	2.59	3.98	3.57	1.60	-2.76	-3.89	2.23
EBIT Less CapEx to Interest Expense	10.60	8.63	7.49	2.67	3.63	3.02	0.93	-5.31	-6.88	0.46
NOPAT Less CapEx to Interest Expense	7.83	5.81	2.93	1.64	2.57	2.24	0.30	-4.24	-5.14	0.78
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	37.89%	45.65%	69.71%	67.75%	68.26%	88.01%	239.78%	-43.45%	-32.74%	208.10%
Augmented Payout Ratio	67.04%	77.12%	89.35%	72.31%	68.26%	94.01%	239.78%	-45.98%	-34.26%	208.10%

This table displays calculated financial ratios and metrics derived from International Flavors & Fragrances' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.26%	-6.17%	-6.17%	-11.43%	-7.93%	-4.96%	-4.23%	-1.37%	3.72%	2.52%
EBITDA Growth	-373.31%	-21.77%	-40.91%	-13.78%	126.58%	-694.49%	22.05%	80.37%	-5.44%	96.25%
EBIT Growth	-702.47%	-47.06%	-68.07%	-27.05%	107.63%	-2,677.78%	73.68%	260.26%	13.42%	87.15%
NOPAT Growth	-691.72%	-47.35%	-125.43%	-56.16%	104.94%	-2,515.24%	241.01%	129.27%	129.10%	105.01%
Net Income Growth	-1,214.21%	-126.09%	-103.25%	-75.23%	101.23%	-10,770.83%	862.50%	537.04%	122.22%	98.24%
EPS Growth	-1,231.58%	-125.00%	-104.17%	-74.42%	101.16%	-9,190.91%	675.00%	500.00%	130.00%	98.34%
Operating Cash Flow Growth	-43.93%	-33.12%	3,275.00%	627.66%	75.00%	209.62%	-22.05%	-4.44%	-12.86%	-42.86%
Free Cash Flow Firm Growth	112.12%	117.99%	60.51%	48.18%	-61.38%	-48.60%	27.54%	113.50%	513.47%	110.00%
Invested Capital Growth	-12.55%	-11.73%	-11.13%	-10.79%	-3.33%	-13.44%	-15.24%	-25.78%	-22.15%	-16.54%
Revenue Q/Q Growth	-7.38%	-7.15%	6.43%	-3.24%	-3.72%	-4.15%	7.25%	-0.34%	1.25%	-5.27%
EBITDA Q/Q Growth	-426.57%	122.97%	2.36%	12.31%	0.68%	-613.61%	120.83%	65.97%	-47.22%	-120.38%
EBIT Q/Q Growth	-1,043.00%	105.07%	15.15%	32.46%	-1.32%	-1,812.75%	107.70%	174.75%	-68.93%	-294.08%
NOPAT Q/Q Growth	-878.03%	105.29%	-201.85%	204.60%	-12.33%	-2,686.09%	105.95%	70.07%	-12.40%	-43.47%
Net Income Q/Q Growth	-2,113.76%	98.91%	66.67%	437.50%	0.00%	-9,762.96%	102.34%	181.97%	-65.12%	-176.67%
EPS Q/Q Growth	-2,100.00%	98.72%	63.64%	375.00%	-9.09%	-10,320.00%	102.25%	186.96%	-65.15%	-173.91%
Operating Cash Flow Q/Q Growth	610.64%	-13.33%	-38.94%	95.28%	69.35%	53.33%	-84.63%	139.39%	54.43%	0.55%
Free Cash Flow Firm Q/Q Growth	10.17%	46.26%	-8.64%	0.65%	-71.29%	94.66%	126.71%	68.49%	-17.49%	-33.37%
Invested Capital Q/Q Growth	-11.52%	0.07%	1.15%	-0.40%	-4.12%	-10.39%	-0.96%	-12.78%	0.57%	-3.93%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	32.68%	30.56%	31.85%	31.85%	32.77%	31.82%	35.32%	36.97%	35.97%	35.37%
EBITDA Margin	-54.16%	13.40%	12.88%	14.95%	15.64%	-83.80%	16.42%	27.35%	14.26%	-3.07%
Operating Margin	-64.81%	3.69%	4.33%	4.95%	5.32%	-93.82%	6.86%	6.61%	8.51%	4.58%
EBIT Margin	-63.73%	3.48%	3.77%	5.16%	5.28%	-94.41%	6.83%	18.83%	5.78%	-11.84%
Profit (Net Income) Margin	-71.66%	-0.84%	-0.26%	0.92%	0.96%	-96.52%	2.10%	5.95%	2.05%	-1.66%
Tax Burden Percent	107.86%	480.00%	-57.14%	54.00%	45.76%	98.79%	53.04%	93.99%	63.16%	40.00%
Interest Burden Percent	104.25%	-5.05%	12.28%	33.11%	39.60%	103.49%	58.08%	33.64%	56.21%	35.06%
Effective Tax Rate	0.00%	0.00%	157.14%	46.00%	54.24%	0.00%	46.96%	6.01%	36.84%	0.00%
Return on Invested Capital (ROIC)	-19.49%	1.10%	-1.03%	1.08%	1.05%	-29.45%	1.61%	2.92%	2.60%	1.69%
ROIC Less NNEP Spread (ROIC-NNEP)	-27.47%	0.10%	-0.36%	0.58%	0.63%	-38.32%	1.15%	2.83%	1.33%	-0.11%
Return on Net Nonoperating Assets (RNNOA)	-14.39%	0.05%	-0.19%	0.31%	0.37%	-22.25%	0.68%	1.43%	0.64%	-0.06%
Return on Equity (ROE)	-33.88%	1.15%	-1.21%	1.40%	1.42%	-51.71%	2.29%	4.34%	3.24%	1.64%
Cash Return on Invested Capital (CROIC)	10.39%	9.29%	8.14%	7.58%	3.76%	8.64%	10.93%	23.79%	19.28%	21.15%
Operating Return on Assets (OROA)	-21.52%	1.15%	1.23%	1.66%	1.81%	-32.59%	2.35%	6.66%	2.08%	-4.56%
Return on Assets (ROA)	-24.20%	-0.28%	-0.09%	0.30%	0.33%	-33.32%	0.72%	2.10%	0.74%	-0.64%
Return on Common Equity (ROCE)	-33.66%	1.14%	-1.21%	1.39%	1.41%	-51.51%	2.28%	4.33%	3.23%	1.63%
Return on Equity Simple (ROE_SIMPLE)	-10.35%	0.00%	-11.93%	-12.48%	0.13%	0.00%	-17.45%	-16.48%	-15.68%	0.00%
Net Operating Profit after Tax (NOPAT)	-1,390	74	-75	78	69	-1,775	106	180	157	89
NOPAT Margin	-45.36%	2.58%	-2.47%	2.67%	2.43%	-65.68%	3.64%	6.21%	5.38%	3.21%
Net Nonoperating Expense Percent (NNEP)	7.97%	1.00%	-0.67%	0.50%	0.42%	8.87%	0.47%	0.09%	1.27%	1.80%
Return On Investment Capital (ROIC_SIMPLE)	-	0.26%	-	-	-	-7.18%	-	-	-	0.39%
Cost of Revenue to Revenue	67.32%	69.44%	68.15%	68.15%	67.23%	68.18%	64.68%	63.03%	64.03%	64.63%
SG&A Expenses to Revenue	13.48%	15.47%	15.00%	15.19%	15.74%	16.43%	16.90%	17.06%	16.92%	18.66%
R&D to Revenue	4.73%	5.03%	5.32%	5.50%	5.57%	5.81%	5.73%	5.99%	5.54%	6.14%
Operating Expenses to Revenue	97.49%	26.86%	27.52%	26.90%	27.45%	125.64%	28.46%	30.36%	27.45%	30.78%
Earnings before Interest and Taxes (EBIT)	-1,952	99	114	151	149	-2,552	198	544	169	-328
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1,659	381	390	438	441	-2,265	476	790	417	-85
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.29	1.43	1.27	1.12	1.00	1.39	1.53	1.71	1.82	1.56
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.73	2.03	1.84	1.66	1.46	1.77	1.93	2.15	2.35	1.88
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	944.96	0.00	0.00	0.00	0.00	88.96
Dividend Yield	3.71%	3.24%	3.65%	4.20%	4.86%	4.07%	3.30%	2.54%	1.92%	1.89%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.11%	0.00%	0.00%	0.00%	0.00%	1.12%
Enterprise Value to Invested Capital (EV/IC)	1.17	1.30	1.20	1.07	1.01	1.25	1.34	1.61	1.72	1.52
Enterprise Value to Revenue (EV/Rev)	2.55	2.86	2.72	2.50	2.30	2.59	2.77	2.92	3.10	2.63
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	16.22	0.00	0.00	0.00	0.00	18.87
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	52.17	0.00	0.00	0.00	0.00	51.73
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	270.33	0.00	0.00	0.00	0.00	44.32
Enterprise Value to Operating Cash Flow (EV/OCF)	64.33	89.60	63.05	36.10	26.68	20.64	22.29	23.61	26.30	28.19
Enterprise Value to Free Cash Flow (EV/FCFF)	10.53	13.08	13.87	13.37	26.42	13.43	11.23	5.77	7.79	6.54
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.63	0.61	0.63	0.60	0.60	0.69	0.72	0.66	0.61	0.65
Long-Term Debt to Equity	0.60	0.58	0.52	0.52	0.54	0.63	0.64	0.60	0.58	0.54
Financial Leverage	0.52	0.50	0.52	0.54	0.58	0.58	0.59	0.50	0.48	0.53
Leverage Ratio	1.94	1.93	1.93	1.94	1.99	2.05	2.05	2.00	1.99	2.09
Compound Leverage Factor	2.02	-0.10	0.24	0.64	0.79	2.13	1.19	0.67	1.12	0.73
Debt to Total Capital	38.80%	37.80%	38.75%	37.37%	37.64%	40.75%	41.82%	39.62%	38.06%	39.22%
Short-Term Debt to Total Capital	1.84%	1.44%	7.11%	4.82%	4.17%	3.58%	4.66%	3.31%	1.96%	6.17%
Long-Term Debt to Total Capital	36.96%	36.36%	31.64%	32.55%	33.46%	37.17%	37.16%	36.32%	36.10%	33.05%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.37%	0.31%	0.31%	0.33%	0.33%	0.13%	0.14%	0.16%	0.15%	0.15%
Common Equity to Total Capital	60.83%	61.89%	60.94%	62.30%	62.03%	59.12%	58.04%	60.22%	61.80%	60.63%
Debt to EBITDA	-1,196.89	-98.03	-29.71	-23.49	6.24	-10.11	-11.32	-16.81	-15.63	5.62
Net Debt to EBITDA	-1,136.00	-93.55	-28.12	-22.05	5.86	-9.40	-10.50	-15.61	-14.66	5.32
Long-Term Debt to EBITDA	-1,140.00	-94.30	-24.26	-20.46	5.55	-9.22	-10.05	-15.41	-14.83	4.73
Debt to NOPAT	-12.23	-11.62	-10.50	-9.41	104.05	-6.82	-7.20	-6.71	-6.85	13.19
Net Debt to NOPAT	-11.61	-11.09	-9.94	-8.84	97.60	-6.34	-6.69	-6.23	-6.43	12.50
Long-Term Debt to NOPAT	-11.65	-11.18	-8.58	-8.20	92.52	-6.22	-6.40	-6.15	-6.50	11.11
Altman Z-Score	1.07	1.38	1.24	1.17	1.10	0.83	1.18	1.48	1.56	1.27
Noncontrolling Interest Sharing Ratio	0.66%	0.59%	0.58%	0.56%	0.57%	0.37%	0.39%	0.41%	0.40%	0.23%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.79	1.99	1.53	1.64	1.74	1.67	1.68	2.38	2.62	1.84
Quick Ratio	0.71	0.62	0.51	0.64	0.67	0.65	0.71	0.71	0.73	0.48
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,545	3,722	3,400	3,422	983	1,913	4,337	7,307	6,028	4,017
Operating Cash Flow to CapEx	216.22%	135.95%	75.60%	245.54%	424.24%	596.30%	86.09%	343.48%	362.38%	234.39%
Free Cash Flow to Firm to Interest Expense	30.66	35.78	34.00	33.88	10.92	21.49	52.25	92.49	81.46	58.22
Operating Cash Flow to Interest Expense	2.89	2.00	1.27	2.46	4.67	7.24	1.19	3.00	4.95	5.33
Operating Cash Flow Less CapEx to Interest Expense	1.55	0.53	-0.41	1.46	3.57	6.02	-0.19	2.13	3.58	3.06
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.34	0.33	0.33	0.32	0.34	0.35	0.34	0.35	0.36	0.39
Accounts Receivable Turnover	6.30	6.68	6.03	5.83	6.02	6.48	5.86	6.18	6.34	6.86
Inventory Turnover	3.03	2.93	2.88	2.80	2.80	2.77	2.84	3.00	3.12	3.19
Fixed Asset Turnover	3.02	2.90	2.87	2.83	2.84	2.72	2.71	2.83	2.89	2.88
Accounts Payable Turnover	5.85	5.62	5.85	5.78	6.01	5.58	5.99	5.95	6.38	5.53
Days Sales Outstanding (DSO)	57.90	54.63	60.52	62.57	60.66	56.34	62.32	59.09	57.60	53.24
Days Inventory Outstanding (DIO)	120.51	124.77	126.68	130.36	130.51	131.71	128.47	121.50	116.93	114.31
Days Payable Outstanding (DPO)	62.38	64.95	62.36	63.19	60.73	65.44	60.99	61.34	57.20	65.98
Cash Conversion Cycle (CCC)	116.03	114.45	124.83	129.74	130.43	122.62	129.80	119.25	117.33	101.56
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	27,419	27,439	27,755	27,644	26,505	23,751	23,524	20,517	20,634	19,823
Invested Capital Turnover	0.43	0.43	0.42	0.40	0.43	0.45	0.44	0.47	0.48	0.53
Increase / (Decrease) in Invested Capital	-3,934	-3,648	-3,475	-3,344	-914	-3,688	-4,231	-7,127	-5,871	-3,928
Enterprise Value (EV)	32,166	35,571	33,291	29,707	26,762	29,705	31,454	33,057	35,393	30,161
Market Capitalization	21,840	25,192	22,515	19,693	17,009	20,312	21,860	24,312	26,826	21,618
Book Value per Share	$66.24	$69.25	$69.62	$69.09	$66.51	$57.24	$56.04	$55.82	$57.79	$54.27
Tangible Book Value per Share	($22.77)	($18.83)	($18.30)	($18.38)	($17.37)	($17.16)	($17.11)	($7.48)	($5.26)	($6.45)
Total Capital	27,761	28,527	29,140	28,286	27,370	24,713	24,624	23,670	23,909	22,888
Total Debt	10,772	10,783	11,291	10,570	10,301	10,071	10,298	9,379	9,099	8,977
Total Long-Term Debt	10,260	10,373	9,220	9,208	9,159	9,186	9,150	8,596	8,631	7,564
Net Debt	10,224	10,290	10,685	9,921	9,662	9,362	9,559	8,708	8,532	8,508
Capital Expenditures (CapEx)	111	153	168	101	99	108	115	69	101	157
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,832	3,621	4,033	3,217	3,211	2,711	2,996	4,836	5,106	4,604
Debt-free Net Working Capital (DFNWC)	3,380	4,114	4,639	3,866	3,850	3,420	3,735	5,507	5,673	5,073
Net Working Capital (NWC)	2,868	3,704	2,568	2,504	2,708	2,535	2,587	4,724	5,205	3,660
Net Nonoperating Expense (NNE)	806	98	-67	51	42	834	45	7.52	97	135
Net Nonoperating Obligations (NNO)	10,430	9,695	9,906	9,928	9,436	9,109	9,198	6,226	5,824	5,912
Total Depreciation and Amortization (D&A)	293	282	276	287	292	287	278	246	248	243
Debt-free, Cash-free Net Working Capital to Revenue	22.43%	29.11%	32.95%	27.12%	27.63%	23.62%	26.39%	42.75%	44.73%	40.09%
Debt-free Net Working Capital to Revenue	26.77%	33.07%	37.90%	32.59%	33.13%	29.79%	32.90%	48.69%	49.69%	44.17%
Net Working Capital to Revenue	22.71%	29.77%	20.98%	21.11%	23.30%	22.08%	22.79%	41.76%	45.59%	31.87%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($8.60)	($0.11)	($0.04)	$0.11	$0.10	($10.22)	$0.23	$0.67	$0.23	($0.18)
Adjusted Weighted Average Basic Shares Outstanding	255M	255M	255M	255M	255M	255M	255M	255M	256M	256M
Adjusted Diluted Earnings per Share	($8.60)	($0.11)	($0.04)	$0.11	$0.10	($10.22)	$0.23	$0.66	$0.23	($0.17)
Adjusted Weighted Average Diluted Shares Outstanding	255M	255M	255M	255M	256M	255M	256M	256M	257M	256M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	254.96M	255.06M	255.09M	255.25M	255.28M	255.31M	255.35M	255.66M	255.68M	255.71M
Normalized Net Operating Profit after Tax (NOPAT)	183	78	125	84	107	-1,772	106	234	157	105
Normalized NOPAT Margin	5.96%	2.73%	4.12%	2.86%	3.80%	-65.55%	3.66%	8.10%	5.38%	3.79%
Pre Tax Income Margin	-66.44%	-0.18%	0.46%	1.71%	2.09%	-97.71%	3.97%	6.33%	3.25%	-4.15%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-23.52	0.95	1.14	1.50	1.66	-28.67	2.39	6.89	2.28	-4.75
NOPAT to Interest Expense	-16.74	0.71	-0.75	0.78	0.76	-19.95	1.27	2.27	2.13	1.29
EBIT Less CapEx to Interest Expense	-24.86	-0.52	-0.54	0.50	0.56	-29.89	1.00	6.01	0.92	-7.03
NOPAT Less CapEx to Interest Expense	-18.08	-0.76	-2.43	-0.22	-0.34	-21.16	-0.11	1.40	0.76	-0.99
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-46.17%	-43.45%	-38.48%	-37.32%	3,750.00%	-32.74%	-33.68%	-31.29%	-27.25%	208.10%
Augmented Payout Ratio	-46.17%	-45.98%	-38.48%	-37.32%	3,750.00%	-34.26%	-33.68%	-31.29%	-27.25%	208.10%

Frequently Asked Questions About International Flavors & Fragrances' Financials

When does International Flavors & Fragrances's financial year end?

According to the most recent income statement we have on file, International Flavors & Fragrances' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has International Flavors & Fragrances' net income changed over the last 9 years?

International Flavors & Fragrances' net income appears to be on an upward trend, with a most recent value of $247 million in 2024, falling from $419.25 million in 2015. The previous period was -$2.56 billion in 2023.

What is International Flavors & Fragrances's operating income?

International Flavors & Fragrances's total operating income in 2024 was $766 million, based on the following breakdown:

Total Gross Profit: $4.12 billion
Total Operating Expenses: $3.36 billion

How has International Flavors & Fragrances revenue changed over the last 9 years?

Over the last 9 years, International Flavors & Fragrances' total revenue changed from $3.02 billion in 2015 to $11.48 billion in 2024, a change of 279.9%.

How much debt does International Flavors & Fragrances have?

International Flavors & Fragrances' total liabilities were at $14.76 billion at the end of 2024, a 9.7% decrease from 2023, and a 600.3% increase since 2015.

How much cash does International Flavors & Fragrances have?

In the past 9 years, International Flavors & Fragrances' cash and equivalents has ranged from $181.99 million in 2015 to $711 million in 2021, and is currently $469 million as of their latest financial filing in 2024.

How has International Flavors & Fragrances' book value per share changed over the last 9 years?

Over the last 9 years, International Flavors & Fragrances' book value per share changed from 19.82 in 2015 to 54.27 in 2024, a change of 173.9%.

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This page (NYSE:IFF) was last updated on 4/14/2025 by MarketBeat.com Staff

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International Flavors & Fragrances (IFF) Financials

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International Flavors & Fragrances (IFF) Financials

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