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International Flavors & Fragrances (IFF)


Market Price (7/10/2026): $78.53 | Market Cap: $20.1 BilSector: Materials | Industry: Specialty Chemicals

International Flavors & Fragrances (IFF)


Market Price (7/10/2026): $78.53
Market Cap: $20.1 Bil
Sector: Materials
Industry: Specialty Chemicals

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.3%, Dividend Yield is 2.0%

Low stock price volatility
Vol 12M is 35%

Megatrend and thematic drivers
Megatrends include Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Nutritional Supplements, Functional Foods & Beverages, Show more.

Weak multi-year price returns
2Y Excs Rtn is -50%, 3Y Excs Rtn is -63%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.6%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.1%, Rev Chg QQuarterly Revenue Change % is -3.6%

Key risks
IFF key risks include [1] ongoing antitrust investigations and class-action lawsuits, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.3%, Dividend Yield is 2.0%
1 Low stock price volatility
Vol 12M is 35%
2 Megatrend and thematic drivers
Megatrends include Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Nutritional Supplements, Functional Foods & Beverages, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -50%, 3Y Excs Rtn is -63%
4 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.6%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.1%, Rev Chg QQuarterly Revenue Change % is -3.6%
5 Key risks
IFF key risks include [1] ongoing antitrust investigations and class-action lawsuits, Show more.

IFF in ETFs

Weight = IFF's share of each fund

SPY0.03%
VOO0.03%
IVV0.03%
VTI0.03%
ITOT0.03%
IWB0.03%
RSP0.22%
VTV0.07%
+25 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 7/1/2026

International Flavors & Fragrances (IFF) stock has gained about 10% since 3/31/2026 because of the following key factors:

1. Strong Fiscal Q1 2026 Earnings Beat and Return to Profitability.

International Flavors & Fragrances (IFF) reported adjusted earnings per share (EPS) of $1.25 for fiscal Q1 2026 (which ended March 31, 2026), significantly exceeding the consensus estimate of $1.08 by 15.33% when announced on May 5, 2026. This strong bottom-line performance was coupled with a 3% increase in comparable currency-neutral sales and an 8% improvement in comparable currency-neutral adjusted operating EBITDA across all businesses. Furthermore, the company returned to profitability, reporting a net income of $169 million, a notable rebound from a loss in the prior-year period.

2. Reaffirmation of Full-Year 2026 Financial Guidance.

Despite an uncertain operating environment, IFF reaffirmed its full-year 2026 financial guidance following its strong Q1 results. The company continues to expect full-year sales to be in the range of $10.5 billion to $10.8 billion and adjusted operating EBITDA to be between $2.05 billion and $2.15 billion. This reaffirmation of guidance, which includes expected comparable currency-neutral sales growth of 1% to 4% and adjusted operating EBITDA growth of 3% to 8%, provided investors with confidence in the company's outlook.

Show more
Updated on 7/1/2026

International Flavors & Fragrances (IFF) stock has gained about 10% since 3/31/2026 because of the following key factors:

1. Strong Fiscal Q1 2026 Earnings Beat and Return to Profitability.

International Flavors & Fragrances (IFF) reported adjusted earnings per share (EPS) of $1.25 for fiscal Q1 2026 (which ended March 31, 2026), significantly exceeding the consensus estimate of $1.08 by 15.33% when announced on May 5, 2026. This strong bottom-line performance was coupled with a 3% increase in comparable currency-neutral sales and an 8% improvement in comparable currency-neutral adjusted operating EBITDA across all businesses. Furthermore, the company returned to profitability, reporting a net income of $169 million, a notable rebound from a loss in the prior-year period.

2. Reaffirmation of Full-Year 2026 Financial Guidance.

Despite an uncertain operating environment, IFF reaffirmed its full-year 2026 financial guidance following its strong Q1 results. The company continues to expect full-year sales to be in the range of $10.5 billion to $10.8 billion and adjusted operating EBITDA to be between $2.05 billion and $2.15 billion. This reaffirmation of guidance, which includes expected comparable currency-neutral sales growth of 1% to 4% and adjusted operating EBITDA growth of 3% to 8%, provided investors with confidence in the company's outlook.

3. Progress on Strategic Portfolio Optimization with Key Divestitures.

IFF continued its strategic portfolio optimization efforts during the period. On May 29, 2026, IFF entered into an agreement to sell its Food Ingredients business. This follows the completion of the divestiture of its Soy Crush, Concentrates, and Lecithin businesses in March 2026. These divestitures are aimed at simplifying the portfolio and refocusing capital on higher-margin core segments like Taste, Scent, and Health & Biosciences.

4. Positive Analyst Sentiment and Upward Price Target Revisions.

Analyst sentiment remained positive, contributing to the stock's upward trend. On June 30, 2026, Argus Research maintained a "Buy" rating on IFF and raised its price target to $85.00 from $80.00, suggesting a projected increase of 6.25%. This reflected optimism about IFF's ability to enhance shareholder value through its diverse product offerings and strategic initiatives. The consensus analyst rating for IFF is a "Strong Buy," based on 9 buy ratings, 3 hold ratings, and 0 sell ratings, with an average 12-month price target of $91.78.

5. Significant Insider Buying Activity.

The period also saw substantial insider buying, which often signals confidence from those closest to the company. Insider activity showed significant purchases totaling $20.3 million over the three months leading up to June 30, 2026. Specifically, on June 1, 2026, IFF director Paul J. Fribourg, through associated entities, purchased a total of 273,500 shares at a weighted average price of approximately $74.28 per share, representing a transaction value exceeding $20 million.

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Stock Movement Drivers

Fundamental Drivers

The 8.8% change in IFF stock from 3/31/2026 to 7/9/2026 was primarily driven by a 9.8% change in the company's P/S Multiple.
(LTM values as of)33120267092026Change
Stock Price ($)72.1778.538.8%
Change Contribution By: 
Total Revenues ($ Mil)10,89010,788-0.9%
P/S Multiple1.71.99.8%
Shares Outstanding (Mil)2562560.0%
Cumulative Contribution8.8%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 7/9/2026
ReturnCorrelation
IFF8.8% 
Market (SPY)15.6%43.6%
Sector (XLB)0.6%58.1%

Fundamental Drivers

The 17.8% change in IFF stock from 12/31/2025 to 7/9/2026 was primarily driven by a 20.9% change in the company's P/S Multiple.
(LTM values as of)123120257092026Change
Stock Price ($)66.6478.5317.8%
Change Contribution By: 
Total Revenues ($ Mil)11,07210,788-2.6%
P/S Multiple1.51.920.9%
Shares Outstanding (Mil)2562560.0%
Cumulative Contribution17.8%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 7/9/2026
ReturnCorrelation
IFF17.8% 
Market (SPY)10.5%31.4%
Sector (XLB)11.3%54.9%

Fundamental Drivers

The 9.4% change in IFF stock from 6/30/2025 to 7/9/2026 was primarily driven by a 15.8% change in the company's P/S Multiple.
(LTM values as of)63020257092026Change
Stock Price ($)71.8178.539.4%
Change Contribution By: 
Total Revenues ($ Mil)11,42810,788-5.6%
P/S Multiple1.61.915.8%
Shares Outstanding (Mil)2562560.0%
Cumulative Contribution9.4%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 7/9/2026
ReturnCorrelation
IFF9.4% 
Market (SPY)22.7%28.1%
Sector (XLB)16.1%57.4%

Fundamental Drivers

The 6.2% change in IFF stock from 6/30/2023 to 7/9/2026 was primarily driven by a 20.9% change in the company's P/S Multiple.
(LTM values as of)63020237092026Change
Stock Price ($)73.9678.536.2%
Change Contribution By: 
Total Revenues ($ Mil)12,24110,788-11.9%
P/S Multiple1.51.920.9%
Shares Outstanding (Mil)255256-0.4%
Cumulative Contribution6.2%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2023 to 7/9/2026
ReturnCorrelation
IFF6.2% 
Market (SPY)75.6%35.3%
Sector (XLB)28.0%54.3%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
IFF Return42%-28%-19%6%-18%18%-16%
Peers Return32%-33%1%0%11%1%0%
S&P 500 Return27%-19%24%23%16%9%99%

Monthly Win Rates [3]
IFF Win Rate75%42%58%42%33%57% 
Peers Win Rate60%38%50%53%50%57% 
S&P 500 Win Rate75%42%67%75%67%43% 

Max Drawdowns [4]
IFF Max Drawdown-16%-42%-45%-20%-31%-19% 
Peers Max Drawdown-19%-47%-42%-32%-30%-26% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: EL, SBH, UG, SHW, ECL. See IFF Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/9/2026 (YTD)

How Low Can It Go

EventIFFS&P 500
2025 US Tariff Shock
  % Loss-18.1%-18.8%
  % Gain to Breakeven22.0%23.1%
  Time to Breakeven310 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-27.8%-9.5%
  % Gain to Breakeven38.5%10.5%
  Time to Breakeven223 days24 days
2023 SVB Regional Banking Crisis
  % Loss-20.2%-6.7%
  % Gain to Breakeven25.3%7.1%
  Time to Breakeven319 days31 days
2020 COVID-19 Crash
  % Loss-29.8%-33.7%
  % Gain to Breakeven42.4%50.9%
  Time to Breakeven37 days140 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-18.4%-3.7%
  % Gain to Breakeven22.5%3.9%
  Time to Breakeven238 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-12.1%-12.2%
  % Gain to Breakeven13.7%13.9%
  Time to Breakeven28 days62 days

Compare to EL, SBH, UG, SHW, ECL

In The Past

International Flavors & Fragrances's stock fell -18.1% during the 2025 US Tariff Shock. Such a loss loss requires a 22.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventIFFS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-27.8%-9.5%
  % Gain to Breakeven38.5%10.5%
  Time to Breakeven223 days24 days
2023 SVB Regional Banking Crisis
  % Loss-20.2%-6.7%
  % Gain to Breakeven25.3%7.1%
  Time to Breakeven319 days31 days
2020 COVID-19 Crash
  % Loss-29.8%-33.7%
  % Gain to Breakeven42.4%50.9%
  Time to Breakeven37 days140 days
2008-2009 Global Financial Crisis
  % Loss-47.7%-53.4%
  % Gain to Breakeven91.3%114.4%
  Time to Breakeven488 days1085 days

Compare to EL, SBH, UG, SHW, ECL

In The Past

International Flavors & Fragrances's stock fell -18.1% during the 2025 US Tariff Shock. Such a loss loss requires a 22.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About International Flavors & Fragrances (IFF)

International Flavors & Fragrances Inc. (IFF) is a global leader in providing essential ingredients that enhance a wide array of consumer products worldwide. The company specializes in the development and manufacture of flavors, fragrances, and various specialty ingredients, which are critical components for how products taste, smell, feel, and perform. IFF serves as a behind-the-scenes innovator, enabling its customers to create compelling and effective products across numerous industries.

IFF's business is structured around four key segments. The Nourish segment supplies natural and plant-based specialty food ingredients like flavor compounds, savory solutions, and food protection ingredients for beverages, sweets, dairy, and other processed foods. The Scent segment focuses on fragrance compounds for fine perfumes, colognes, and consumer products, alongside cosmetic active ingredients for personal care lines. Its Health & Biosciences segment develops and produces enzymes, food cultures, probiotics, and other specialty ingredients for food, health, and industrial applications. Lastly, the Pharma Solutions segment provides cellulosics and seaweed-based excipients crucial for pharmaceutical formulations.

The company's primary customers are manufacturers across a diverse range of industries. These include producers of perfumes and cosmetics, hair and personal care items, soaps and detergents, cleaning products, dairy, meat, snacks, beverages, baked goods, dietary supplements, and infant nutrition. IFF's global reach extends to Europe, Africa, the Middle East, Greater Asia, North America, and Latin America, supplying the foundational ingredients that allow countless everyday consumer goods to deliver desired sensory experiences and functional benefits.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe International Flavors & Fragrances (IFF):

  • IFF is like the 'Intel Inside' for taste, scent, and product function, providing the essential hidden ingredients that give your food, perfumes, and medicines their unique qualities.
  • Think of IFF as the 3M of flavors, fragrances, and health ingredients, creating a vast array of innovative components that define countless consumer and pharmaceutical products.

AI Analysis | Feedback

  • Specialty Food Ingredients: These include natural and plant-based flavor compounds, savory solutions, and inclusions for various food and beverage applications.
  • Natural Food Protection Ingredients: Products like natural antioxidants and anti-microbials designed to enhance food safety and shelf life.
  • Fragrance Compounds: Custom-blended fragrances encompassing fine perfumes, colognes, and consumer fragrances for personal and home care products.
  • Fragrance Ingredients: Fundamental synthetic and natural materials used as building blocks to create diverse fragrance compounds.
  • Cosmetic Active Ingredients: Active and functional ingredients, botanicals, and delivery systems supporting cosmetic and personal care product lines.
  • Enzymes, Food Cultures, and Probiotics: A range of biotechnological solutions utilized in food, health, and various industrial applications.
  • Pharma Excipients: Cellulosics and seaweed-based ingredients crucial for pharmaceutical formulations.

AI Analysis | Feedback

International Flavors & Fragrances (IFF) primarily sells its products to other companies, specifically to various manufacturers across a broad range of industries. Based on the provided company description, specific names of major customer companies are not disclosed. Instead, the description identifies the following categories of manufacturers as IFF's primary customers:

  • Manufacturers of perfumes and cosmetics
  • Manufacturers of hair and other personal care products
  • Manufacturers of soaps and detergents
  • Manufacturers of cleaning products
  • Manufacturers of dairy, meat, and other processed foods
  • Manufacturers of beverages
  • Manufacturers of snacks and savory foods
  • Manufacturers of sweet and baked goods
  • Manufacturers of dietary supplements
  • Manufacturers of infant and elderly nutrition products
  • Manufacturers of functional food products
  • Manufacturers of pharmaceutical excipients and oral care products

AI Analysis | Feedback

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AI Analysis | Feedback

J. Erik Fyrwald, Chief Executive Officer

J. Erik Fyrwald became the Chief Executive Officer of International Flavors & Fragrances Inc. in February 2024. He has over four decades of executive and operational experience in the nutrition, agriculture, and chemicals industries. Prior to joining IFF, Mr. Fyrwald served as Chief Executive Officer of Syngenta since 2016. During his tenure at Syngenta, the company was acquired by ChemChina, and the Syngenta Group grew significantly in revenue and EBITDA. Before Syngenta, he was the CEO of Univar Solutions from May 2012 to May 2016. From 2008 to 2011, he served as Chairman and Chief Executive Officer of Nalco, which later merged with Ecolab Inc., where he then became President. Mr. Fyrwald began his career at DuPont in 1981, holding various leadership roles including Group Vice President of the Agriculture and Nutrition Division.

Michael DeVeau, Executive Vice President and Chief Financial Officer

Michael DeVeau was appointed Executive Vice President and Chief Financial Officer of IFF, effective January 1, 2025. He has been with IFF since 2009, holding several senior finance leadership roles across the global organization. His previous positions at IFF include Senior Vice President, Corporate Finance and Investor Relations; Divisional CFO for the Scent division; and Chief Strategy Officer, where he helped guide corporate strategy. Before joining IFF, Mr. DeVeau held leadership positions in investor relations, finance, and corporate development at PepsiCo, and began his career as an equity research analyst at Citigroup Investment Research.

Yuvraj Arora, President, Taste Division and Chief Commercial Officer

Yuvraj Arora assumed the role of President, Taste Division and Chief Commercial Officer in January 2025. Previously, he served as President, Nourish at IFF.

Deborah Borg, EVP, Chief People & Culture Officer

Deborah Borg has served as IFF's Executive Vice President and Chief People & Culture Officer since August 2022. She also took on leadership of IFF's corporate communications function in December 2022. With over 20 years of experience, she is recognized as a leader in human resources, culture, employee engagement, and business strategy. Prior to her time at IFF, Ms. Borg was the Chief Human Resources and Communications Officer at Bunge Limited since 2016.

Ana Paula Mendonça, President, Scent

Ana Paula Mendonça serves as the President of the Scent division at IFF, maintaining her leadership role in this segment.

AI Analysis | Feedback

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For International Flavors & Fragrances (IFF), key risks to the business include intense competition and customer concentration, global supply chain disruptions alongside macroeconomic and geopolitical uncertainties, and high leverage coupled with integration risks stemming from past mergers.

Key Risks to International Flavors & Fragrances (IFF)

  1. Intense Competition and Customer Concentration: International Flavors & Fragrances operates in a highly competitive industry with major global players such as Givaudan and DSM-Firmenich, as well as Symrise and Kerry. To maintain its competitive edge, IFF must continuously innovate and secure its "core list" status with large multinational customers. The potential loss of a major customer or reduced demand from key clients could significantly impact IFF's financial performance, despite no single customer accounting for 10% or more of sales in 2025. The industry also faces the threat of new entrants and the potential for consumer goods companies to develop in-house competing products.
  2. Global Supply Chain Disruptions and Macroeconomic/Geopolitical Uncertainties: IFF's extensive global operations expose it to a range of economic, political, and supply chain risks. The company relies on a vast array of raw materials, including natural essential oils and synthetic chemicals, sourced globally. Geopolitical events, trade wars, tariffs, natural disasters, or pandemics can significantly disrupt raw material availability and pricing. Additionally, global economic downturns, inflation, and currency fluctuations can impact consumer spending on discretionary products, thereby affecting demand for IFF's ingredients and its financial results.
  3. High Leverage and Integration Risks: IFF carries a substantial amount of indebtedness, with total debt of approximately $5.994 billion as of December 31, 2025. This high leverage could adversely affect its financial condition and ability to make necessary investments. The company has also faced significant integration challenges following its merger with DuPont's Nutrition & Biosciences business. This includes a substantial $1.15 billion goodwill impairment charge in the Food Ingredients segment in the first quarter of 2025, underscoring difficulties in valuing and integrating assets post-merger. While strategic divestitures, such as the sale of its Pharma Solutions business, are aimed at reducing debt and streamlining operations, these portfolio adjustments also create short-term revenue pressures.
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AI Analysis | Feedback

The emerging threat to International Flavors & Fragrances (IFF) is the rise of **synthetic biology and precision fermentation** for the production of flavors, fragrances, enzymes, probiotics, and other specialty ingredients. This technology allows for the precise engineering of microorganisms to produce complex molecules that traditionally would be sourced from agriculture, extracted from plants, or synthesized through chemical processes. This presents a clear threat by offering alternative, potentially more sustainable, cost-effective, and scalable methods of ingredient production with higher purity, directly challenging IFF's existing supply chains, manufacturing processes, and R&D for a significant portion of its Nourish, Scent, and Health & Biosciences segments.

AI Analysis | Feedback

For International Flavors & Fragrances (IFF), the addressable markets for their main products and services are as follows:

Nourish Segment

  • Food Ingredients (general): The global food ingredients market was valued at USD 368.28 billion in 2025 and is projected to increase to approximately USD 561.61 billion by 2034.
  • Specialty Food Ingredients: The global specialty food ingredients market was estimated at USD 112.89 billion in 2025 and is predicted to reach USD 187.38 billion by 2035. Another source reported the market size at USD 179.8 billion in 2023, projected to reach USD 240.9 billion by 2028.
  • Flavor Compounds: The global flavor compounds market is projected to grow from USD 29.7 billion in 2025 to USD 52.7 billion by 2035.
  • Food Flavors: The global food flavors market size was valued at USD 16.70 billion in 2025 and is projected to grow to USD 26.52 billion by 2034.

Scent Segment

  • Fragrance Market (overall): The global fragrance market was estimated at USD 58.89 billion in 2025 and is projected to reach USD 89.41 billion by 2033. Another estimate places the global fragrance market size at approximately USD 66.59 billion in 2024, projected to reach USD 98.32 billion by 2030.
  • Fine Fragrances: The global fine fragrances market size was estimated at USD 43.3 billion in 2022 and is expected to reach USD 71.2 billion by 2030.
  • Fragrance Ingredients: The global fragrance ingredients market size was valued at USD 18.28 billion in 2025 and is projected to grow to USD 28.78 billion by 2034.

Health & Biosciences Segment

  • Specialty Ingredients: The global specialty ingredients market size was valued at USD 142.5 billion in 2023 and is projected to reach USD 215.8 billion by 2030.
  • Functional Food Ingredients (including probiotics): The functional food ingredient market size is estimated at USD 19.96 billion in 2025, with projections showing USD 23.18 billion by 2031.
  • Bioactive Ingredients (includes probiotics and other specialty ingredients): The global bioactive ingredients market size was valued at USD 127.5 billion in 2024, with expectations to reach USD 279.9 billion by 2034.

Pharma Solutions Segment

  • Pharmaceutical Excipients: The global pharmaceutical excipients market size is valued at USD 9.31 billion in 2025 and is expected to surpass around USD 16.14 billion by 2035. Another source indicates the market size was USD 9.1 billion in 2023 and is expected to grow to USD 18 billion by 2032.
  • Seaweed Extracts (used in various industries including pharmaceuticals): The global seaweed extracts market size was valued at USD 1.41 billion in 2025 and is projected to grow to USD 4.61 billion by 2034. Another report estimates the market at USD 1.7 billion in 2024, growing to USD 2.5 billion in 2034. A broader estimate for the global seaweed extract market was USD 17.5 billion in 2024, projected to reach USD 20.9 billion by 2029.

AI Analysis | Feedback

International Flavors & Fragrances (IFF) anticipates several key drivers to fuel its revenue growth over the next two to three years:

  1. Strategic Portfolio Optimization and Focus on Core Segments: IFF is actively divesting non-core, lower-margin businesses, such as its Pharma Solutions and Food Ingredients segments, to concentrate on its higher-value core areas: Nourish, Scent, and Health & Biosciences. This strategic realignment is expected to drive more profitable growth by directing resources to these key segments.
  2. Innovation and Investment in Research & Development (R&D): The company emphasizes continuous innovation as a crucial growth engine, allocating significant investments in R&D. These investments are aimed at developing new and unique flavors, fragrances, and specialty ingredients, leveraging advancements in biotechnology and AI. Examples include biodegradable scent technologies and upcycled flavor ingredients.
  3. Capitalizing on Evolving Consumer Preferences: IFF is strategically positioned to benefit from increasing consumer demand for natural, sustainable, clean-label, and personalized products, particularly within the health and wellness space. This includes addressing growing interest in gut health, protein, and plant-based solutions across its Taste, Scent, and Health & Biosciences segments.
  4. Volume Growth and Favorable Pricing: The company expects a recovery in sales volumes and the implementation of favorable net pricing strategies to contribute to comparable currency-neutral sales growth. These improvements are linked to ongoing productivity initiatives and operational efficiencies across its businesses.

AI Analysis | Feedback

Capital Allocation Decisions of International Flavors & Fragrances (IFF) (2021-2026)

Share Repurchases

  • International Flavors & Fragrances (IFF) announced a $500 million share repurchase authorization in the second quarter of 2025, reflecting confidence in the company's long-term value.
  • The share repurchase program commenced in the fourth quarter of 2025, with $38 million returned to shareholders through repurchases year-to-date as of March 2026.
  • The program is primarily intended to offset annual share dilution from equity compensation, which is estimated to be approximately $80 million to $100 million per year.

Share Issuance

  • The completion of the merger with DuPont's Nutrition & Biosciences (N&B) business in February 2021 resulted in the issuance of IFF common stock, with former DuPont shareholders owning approximately 55.4% of IFF's outstanding shares on a fully diluted basis.
  • Basic and diluted weighted average shares outstanding increased from 243 million in 2021 to 255-256 million from 2022 to 2025.

Outbound Investments

  • IFF completed the divestiture of its Pharma Solutions business to Roquette for approximately $2.564 billion in cash in 2025, with total consideration of $2.651 billion including an earnout estimate, significantly strengthening the company's capital structure.
  • In 2022, IFF divested its Savory Solutions business for $900 million and its Flavor Specialty Ingredients business for $220 million as part of its portfolio optimization strategy.
  • The company launched a formal sale process for its Food Ingredients business in early 2026 and completed the divestiture of its Soy Crush, Concentrates, and Lecithin businesses in March 2026.

Capital Expenditures

  • Capital expenditures totaled $594 million for the full year 2025 and averaged $491.4 million annually from fiscal years 2021 to 2025.
  • Capital expenditures are strategically directed towards high-return areas, including innovation, capacity expansion, productivity, and digitalization within its core businesses.
  • Recent capital investments include expanding IFF's Latin American footprint with a new enzyme hub and Brazil Application Lab in March 2026, and inaugurating an expanded LMR Naturals facility in Grasse, France, in November 2025.

Better Bets vs. International Flavors & Fragrances (IFF)

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

IFFELSBHUGSHWECLMedian
NameInternat.Estee La.Sally Be.United-G.Sherwin-.Ecolab  
Mkt Price78.5381.9914.707.23332.03273.0380.26
Mkt Cap20.129.71.40.081.677.024.9
Rev LTM10,78814,8333,7271123,93616,45212,810
Op Inc LTM8541,56430623,8452,9761,209
FCF LTM3981,28522922,9051,870842
FCF 3Y Avg64936218032,4981,811506
CFO LTM9801,79835723,6523,0291,389
CFO 3Y Avg1,1681,84828633,3932,8091,508

Growth & Margins

IFFELSBHUGSHWECLMedian
NameInternat.Estee La.Sally Be.United-G.Sherwin-.Ecolab  
Rev Chg LTM-5.6%0.3%0.8%-4.1%3.9%4.9%0.5%
Rev Chg 3Y Avg-4.1%-2.2%-0.6%-1.3%2.0%4.3%-1.0%
Rev Chg Q-3.6%4.6%2.3%15.8%6.8%10.0%5.7%
QoQ Delta Rev Chg LTM-0.9%1.1%0.5%3.7%1.5%2.3%1.3%
Op Inc Chg LTM-6.7%17.2%-5.5%-29.6%1.4%12.2%-2.0%
Op Inc Chg 3Y Avg4.5%-3.9%-3.0%-11.0%7.1%18.4%0.7%
Op Mgn LTM7.9%10.5%8.2%20.8%16.1%18.1%13.3%
Op Mgn 3Y Avg7.1%9.2%8.3%25.2%16.1%16.6%12.7%
QoQ Delta Op Mgn LTM0.2%0.9%0.0%-0.5%-0.0%0.1%0.1%
CFO/Rev LTM9.1%12.1%9.6%20.6%15.3%18.4%13.7%
CFO/Rev 3Y Avg10.4%12.3%7.7%25.8%14.5%17.7%13.4%
FCF/Rev LTM3.7%8.7%6.1%20.0%12.1%11.4%10.0%
FCF/Rev 3Y Avg5.8%2.5%4.9%23.8%10.7%11.4%8.2%

Valuation

IFFELSBHUGSHWECLMedian
NameInternat.Estee La.Sally Be.United-G.Sherwin-.Ecolab  
Mkt Cap20.129.71.40.081.677.024.9
P/S1.92.00.43.03.44.72.5
P/Op Inc23.519.04.614.621.225.920.1
P/EBIT19.758.24.614.621.126.520.4
P/E23.6-119.97.714.131.436.618.8
P/CFO20.516.54.014.822.325.418.5
Total Yield6.3%-0.4%12.9%14.1%4.2%3.7%5.2%
Dividend Yield2.0%0.4%0.0%7.0%1.0%1.0%1.0%
FCF Yield 3Y Avg3.2%2.3%15.3%7.6%3.0%2.6%3.1%
D/E0.30.31.10.00.20.10.2
Net D/E0.30.21.0-0.20.20.10.2

Returns

IFFELSBHUGSHWECLMedian
NameInternat.Estee La.Sally Be.United-G.Sherwin-.Ecolab  
1M Rtn4.2%-5.3%12.7%3.9%6.9%3.5%4.0%
3M Rtn8.0%12.3%1.8%9.4%-0.8%0.5%4.9%
6M Rtn15.8%-25.1%-4.4%20.3%-2.2%1.0%-0.6%
12M Rtn5.1%-3.9%47.0%-4.7%-4.7%2.9%-0.5%
3Y Rtn7.5%-55.1%22.1%2.3%32.7%53.4%14.8%
1M Excs Rtn6.9%-5.0%14.0%3.1%9.0%4.5%5.7%
3M Excs Rtn-4.2%4.0%-5.8%-1.8%-12.0%-11.1%-5.0%
6M Excs Rtn6.7%-32.6%-12.0%12.3%-10.5%-7.5%-9.0%
12M Excs Rtn-15.6%-23.9%26.7%-26.0%-24.3%-18.6%-21.2%
3Y Excs Rtn-63.3%-125.5%-52.0%-67.1%-40.2%-18.3%-57.7%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Food Ingredients3,2783,365   
Taste2,4812,428   
Scent2,4792,4392,3932,3012,254
Health & Biosciences2,2832,2032,0812,3392,329
Pharma Solutions3691,049945971809
Nourish  6,0606,8296,264
Total10,89011,48411,47912,44011,656


Operating Income by Segment
$ Mil20252024202320222021
Health & Biosciences594577588634625
Scent515545461423463
Taste478460   
Food Ingredients423408   
Pharma Solutions76215199222165
Entity Realignment Costs-8-6   
Other-99-2-11 
Strategic Initiative Costs-35-33-31-8 
Restructuring and Other Charges-70-29-68-12-41
Regulatory Costs-106-73-500 
Divestiture and Integration Costs-125-228-174-201 
Depreciation & Amortization-962-1,015-1,142-1,179-1,156
Impairment of Goodwill-1,153-64-2,623-2,250 
Nourish  7321,1761,172
Impairment of Long-Lived Assets   -120 
N&B (Nutrition & Biosciences, Inc.) Inventory Step-Up Costs   0-368
Business Divestiture Costs    -42
Employee Separation Costs    -29
Frutarom Acquisition Related Costs    -2
Gains (Losses) on Sale of Fixed Assets    1
Integration Related Costs    -105
N&B (Nutrition & Biosciences, Inc.) Transaction Related Costs    -91
Shareholder Activism Related Costs    -7
Total-382766-2,110-1,326585


Assets by Segment
$ Mil20232022202120202019
Nourish12,89317,06217,4498,53410,320
Health & Biosciences10,66610,92414,7741,375 
Scent4,2744,3094,0783,6462,757
Pharma Solutions3,1453,2273,357  
Global assets    210
Total30,97835,52239,65813,55513,287


Price Behavior

Price Behavior
Market Price$78.53 
Market Cap ($ Bil)20.1 
First Trading Date12/31/1981 
Distance from 52W High-6.3% 
   50 Days200 Days
DMA Price$75.73$70.04
DMA Trendupup
Distance from DMA3.7%12.1%
 3M1YR
Volatility48.6%34.7%
Downside Capture126.1572.64
Upside Capture106.4261.67
Correlation (SPY)40.6%28.2%
IFF Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta0.751.651.510.950.790.74
Up Beta1.783.972.482.001.810.91
Down Beta1.350.990.680.150.110.43
Up Capture56%154%103%94%55%41%
Bmk +ve Days11244067140429
Stock +ve Days10212961127381
Down Capture1%92%138%76%78%95%
Bmk -ve Days10172358112321
Stock -ve Days11203464124369

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with IFF
IFF5.6%34.6%0.20-
Sector ETF (XLB)11.8%17.6%0.4856.8%
Equity (SPY)22.3%12.5%1.3328.1%
Gold (GLD)24.4%27.8%0.7720.3%
Commodities (DBC)23.6%18.7%1.00-31.9%
Real Estate (VNQ)13.2%13.9%0.6546.7%
Bitcoin (BTCUSD)-42.8%42.8%-1.189.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with IFF
IFF-9.7%31.9%-0.27-
Sector ETF (XLB)6.1%19.1%0.2157.5%
Equity (SPY)13.4%17.1%0.6145.6%
Gold (GLD)18.0%18.3%0.8015.0%
Commodities (DBC)7.5%19.5%0.282.5%
Real Estate (VNQ)2.9%18.9%0.0649.0%
Bitcoin (BTCUSD)12.3%53.5%0.4215.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with IFF
IFF-1.9%30.4%0.00-
Sector ETF (XLB)10.6%20.6%0.4559.4%
Equity (SPY)15.8%17.9%0.7551.1%
Gold (GLD)11.7%16.1%0.599.7%
Commodities (DBC)6.1%18.0%0.2710.9%
Real Estate (VNQ)5.2%20.7%0.2249.1%
Bitcoin (BTCUSD)58.0%66.2%0.9812.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date6152026
Short Interest: Shares Quantity15.2 Mil
Short Interest: % Change Since 531202618.7%
Average Daily Volume2.0 Mil
Days-to-Cover Short Interest7.6 days
Basic Shares Quantity256.0 Mil
Short % of Basic Shares5.9%

Earnings Returns History

Updated 6/8/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/202617.2%10.9%3.5%
2/11/20265.9%6.0%-9.6%
11/4/20254.1%6.2%9.3%
8/5/2025-6.3%-8.6%-7.2%
5/6/2025-7.1%-3.4%-3.5%
2/18/2025-5.2%-7.1%-6.8%
11/5/2024-11.6%-9.8%-10.2%
8/6/2024-2.4%0.1%6.4%
...
SUMMARY STATS   
# Positive101312
# Negative131011
Median Positive3.9%3.7%4.1%
Median Negative-6.3%-8.9%-10.2%
Max Positive17.2%10.9%12.4%
Max Negative-19.4%-19.1%-24.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/202617.2%10.9%3.5%
2/11/20265.9%6.0%-9.6%
11/4/20254.1%6.2%9.3%
8/5/2025-6.3%-8.6%-7.2%
5/6/2025-7.1%-3.4%-3.5%
2/18/2025-5.2%-7.1%-6.8%
11/5/2024-11.6%-9.8%-10.2%
8/6/2024-2.4%0.1%6.4%
5/6/20246.4%8.9%10.6%
2/20/2024-6.4%-9.3%2.3%
11/6/2023-1.0%-1.5%4.7%
8/7/2023-19.4%-19.1%-11.6%
5/8/2023-7.0%-13.2%-16.4%
2/8/2023-18.7%-13.9%-24.7%
11/7/2022-5.0%3.3%12.4%
8/8/2022-5.9%-2.4%-11.3%
5/9/20225.0%7.1%11.2%
2/9/20222.9%3.7%-10.9%
11/8/20213.8%3.3%0.4%
8/5/20212.0%5.4%1.9%
5/10/2021-2.8%0.0%3.1%
2/10/20210.9%1.8%-0.5%
11/9/20200.1%2.1%2.5%
SUMMARY STATS   
# Positive101312
# Negative131011
Median Positive3.9%3.7%4.1%
Median Negative-6.3%-8.9%-10.2%
Max Positive17.2%10.9%12.4%
Max Negative-19.4%-19.1%-24.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/05/202610-Q
12/31/202502/27/202610-K
09/30/202511/04/202510-Q
06/30/202508/05/202510-Q
03/31/202505/06/202510-Q
12/31/202402/28/202510-K
09/30/202411/05/202410-Q
06/30/202408/06/202410-Q
03/31/202405/06/202410-Q
12/31/202302/28/202410-K
09/30/202311/08/202310-Q
06/30/202308/09/202310-Q
03/31/202305/10/202310-Q
12/31/202202/27/202310-K
09/30/202211/07/202210-Q
06/30/202208/08/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/05/202610-Q
12/31/202502/27/202610-K
09/30/202511/04/202510-Q
06/30/202508/05/202510-Q
03/31/202505/06/202510-Q
12/31/202402/28/202510-K
09/30/202411/05/202410-Q
06/30/202408/06/202410-Q
03/31/202405/06/202410-Q
12/31/202302/28/202410-K
09/30/202311/08/202310-Q
06/30/202308/09/202310-Q
03/31/202305/10/202310-Q
12/31/202202/27/202310-K
09/30/202211/07/202210-Q
06/30/202208/08/202210-Q
03/31/202205/09/202210-Q
12/31/202102/28/202210-K
09/30/202111/08/202110-Q
06/30/202108/05/202110-Q
03/31/202105/10/202110-Q
12/31/202002/22/202110-K
09/30/202011/09/202010-Q
06/30/202008/10/202010-Q
03/31/202005/11/202010-Q
12/31/201903/03/202010-K
09/30/201911/04/201910-Q
06/30/201908/05/201910-Q

Recent Forward Guidance

Updated 7/8/2026

Latest: Q1 2026 Earnings Reported 5/5/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue10.50 Bil10.65 Bil10.80 Bil0 AffirmedGuidance: 10.65 Bil for 2026
2026 Adjusted Operating EBITDA2.05 Bil2.10 Bil2.15 Bil0 AffirmedGuidance: 2.10 Bil for 2026
2026 Comparable Currency Neutral Sales Growth1.0%2.5%4.0% 0AffirmedGuidance: 2.5% for 2026
2026 Comparable Currency Neutral Adjusted Operating EBITDA Growth3.0%5.5%8.0% 0AffirmedGuidance: 5.5% for 2026

Prior: Q4 2025 Earnings Reported 2/11/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue10.50 Bil10.65 Bil10.80 Bil-0.9% Lower NewGuidance: 10.75 Bil for 2025
2026 Adjusted Operating EBITDA2.05 Bil2.10 Bil2.15 Bil1.2% Higher NewGuidance: 2.08 Bil for 2025
2026 Comparable Currency Neutral Sales Growth1.0%2.5%4.0% 0Same NewGuidance: 2.5% for 2025
2026 Comparable Currency Neutral Adjusted Operating EBITDA Growth3.0%5.5%8.0% -2.0%Lower NewGuidance: 7.5% for 2025

Q3 2025 Earnings Reported 11/4/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2025 Revenue10.60 Bil10.75 Bil10.90 Bil  AffirmedGuidance: 10.75 Bil for 2025
2025 Adjusted Operating EBITDA2.00 Bil2.08 Bil2.15 Bil  AffirmedGuidance: 2.08 Bil for 2025
2025 Comparable Currency Neutral Sales Growth1.0%2.5%4.0% 0AffirmedGuidance: 2.5% for 2025
2025 Comparable Currency Neutral Adjusted Operating EBITDA Growth5.0%7.5%10.0% 0AffirmedGuidance: 7.5% for 2025

Insider Activity

Updated 6/3/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Fribourg, Paul J DirectBuy602202674.4913,5001,005,5743,214,114Form
2Fribourg, Paul J Continental Grain CompanyBuy602202674.28260,00019,312,280199,267,819Form
3Costa, Mark J DirectSell325202666.051599130,579Form
4Costa, Mark J DirectBuy325202680.95151,21438,692Form
5Costa, Mark J DirectSell325202677.49151,16235,877Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Fribourg, Paul J DirectBuy602202674.4913,5001,005,5743,214,114Form
2Fribourg, Paul J Continental Grain CompanyBuy602202674.28260,00019,312,280199,267,819Form
3Costa, Mark J DirectSell325202666.051599130,579Form
4Costa, Mark J DirectBuy325202680.95151,21438,692Form
5Costa, Mark J DirectSell325202677.49151,16235,877Form
6Costa, Mark J DirectBuy325202684.2710843843Form
7Fyrwald, J ErikChief Executive OfficerDirectBuy316202669.8513,360933,2246,400,548Form
8Fribourg, Paul J DirectBuy316202670.0714,200995,0152,077,620Form
9Fribourg, Paul J Continental Grain CompanyBuy316202670.13142,0009,957,963169,897,575Form
10Fyrwald, J ErikChief Executive OfficerDirectBuy316202668.8790061,9805,390,197Form
11Fribourg, Paul J Wolfensohn Foundation Segregated AccountBuy316202673.933222813Form
12Fribourg, Paul J Wolfensohn Foundation PrimaryBuy316202674.6314610,89630,524Form
13Fribourg, Paul J Wolfensohn Foundation Segregated AccountSell316202663.353190507Form
14Fribourg, Paul J Wolfensohn Foundation Segregated AccountSell316202665.27251,632718Form
15Fribourg, Paul J Wolfensohn Foundation PrimarySell316202665.4218712,23417,205Form
16Fribourg, Paul J JDW 2011 Trust f/b/o Adam WolfensohnBuy316202663.64392,4822,482Form
17Fribourg, Paul J JDW 2011 Trust f/b/o Adam WolfensohnSell316202660.877  Form
18Fribourg, Paul J Wolfensohn Foundation PrimaryBuy316202666.91714,75130,110Form
19Landsman, Stephen NEVP, General CounselDirectBuy1212202563.483,100196,788958,548Form
20Fribourg, Paul J DirectBuy808202564.8015,4501,001,1831,001,183Form
21Fyrwald, J ErikChief Executive OfficerDirectBuy807202564.9515,300993,7145,025,073Form
Core Cache Last Updated: 7/9/2026