Materials · Specialty Chemicals · US stock · price as of 16 Oct 2026
Key indicators
Price
$90.68
52-week range
$59.97 – $91.88
Market cap
$23.3B
P/E (trailing)
79.7×
EV / EBITDA
16.7×
Free-cash-flow yield
2.3%
Dividend yield
1.8%
Revenue (last 12 months)
$10.0B
Revenue growth (3y a year)
−4.3%
Operating margin
7.6%
Return on invested capital
3.0%
Net debt / EBITDA
3.3×
Fair value
Blended fair value$11.00 range $11 – $11
Versus priceData under review+0% to fair value
Peer multiples
$11.78
Fundamentals-adjusted multiple
$10.22
10-year DCF (market-scaled)
n/m
Earnings power value (floor, not blended)
n/m
Model uncertainty
High
X-Ray Score
23/ 100 · Medium confidence · ahead of 9% of sector peers
Valuation14
Growth14
Profitability30
Financial health35
Dividends21
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Ingredients for foods, drinks, household goods and personal care products are what International Flavors and Fragrances develops and manufactures. Its work covers flavours and taste solutions, fragrance and scent ingredients, food ingredients such as texturants and proteins, and health and biosciences products including enzymes and probiotics. Customers are consumer goods and food and beverage manufacturers, which use its ingredients in their own branded products.
Revenue of $10.0 billion over the last twelve months comes from creating ingredients and compounds to customer specifications and supplying them in volume. Revenue has changed at -4.3% a year across the last three years. The operating margin is 7.6%, the business earns 3% on the capital invested in it, and net debt is 3.3 times EBITDA. The dividend yield is 1.8%.
StocksXray gives International Flavors & Fragrances Inc an X-Ray Score of 23 out of 100 (medium confidence), ahead of 9% of the S&P 500 stocks in its sector. Its strongest lens is financial health (35) and its weakest is valuation (14).
Our fair value blend is $11.00 (range $11.00 to $11.00). At $90.68 the stock trades 724% above that blend, so the label is "Data under review" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
International Flavors & Fragrances Inc (IFF)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$132.61
$95.02
$76.52
$81.31
$66.33
$90.68
Market cap
$32.2B
$24.2B
$19.5B
$20.8B
$17.0B
$23.3B
P/E
120.6×
–
–
78.2×
–
79.7×
EV / revenue
3.7×
2.8×
2.5×
2.6×
2.1×
2.9×
EV / EBITDA
24.9×
–
–
16.5×
39.2×
16.8×
Price / free cash flow
30.9×
–
20.5×
34.3×
66.3×
43.2×
Free-cash-flow yield
3.2%
−0.4%
4.9%
2.9%
1.5%
2.3%
Price / book
1.5×
1.4×
1.3×
1.5×
1.2×
1.7×
Dividend yield
2.35%
3.37%
4.23%
1.97%
2.41%
1.76%
Fundamentals checklist ● 0 Good · ● 4 Average · ● 10 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−3.5%Average
Free-cash-flow yield2.3%Bad
Risk models
Altman Z score2.3×Bad
Piotroski F-Score6 of 9Average
Growth
Revenue growth (3y)−4.3%Bad
Growth consistency30%Bad
Balance sheet
Current ratio2.1×Average
Net debt / EBITDA3.3×Bad
Interest cover4.0×Bad
Valuation
Fair value vs price0.1×Bad
EBIT / EV yield2.6%Bad
Profitability
Return on invested capital3.0%Bad
Operating margin7.6%Bad
Gross profitability14.9%Average
XStocksXray
International Flavors & Fragrances Inc (IFF)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
11,656
12,440
11,479
11,484
10,890
9,978
Gross profit
3,735
4,151
3,681
4,124
3,938
3,744
Operating income
585
-1,326
-2,110
766
-382
754
Net income
279
-1,864
-2,587
267
-359
292
Diluted EPS ($)
1.10
-7.32
-10.14
1.04
-1.41
1.14
Free cash flow
1,044
-107
952
607
256
540
Gross margin
32.0%
33.4%
32.1%
35.9%
36.2%
37.5%
Operating margin
5.0%
−10.7%
−18.4%
6.7%
−3.5%
7.6%
Net margin
2.4%
−15.0%
−22.5%
2.3%
−3.3%
2.9%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
39,658
35,522
30,978
28,723
25,539
25,154
Cash
711
483
703
469
590
569
Total debt
11,724
11,157
10,071
8,977
6,306
5,749
Equity
21,082
17,655
14,611
13,834
14,154
13,976
Dividend per share ($)
3.12
3.20
3.24
1.60
1.60
1.60
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.