Recent News
On March 2, 2026 IFF completed the divestiture of its soy crush, concentrates and lecithin businesses. On March 4, 2026 the board declared a quarterly cash dividend of $0.40 per share payable April 10, 2026. On March 10, 2026 IFF announced an expansion in Latin America, converting Arroyito into an enzyme production hub and opening a Brazil application lab. On March 31, 2026 FSANZ accepted a heart‑health claim for isolated soy protein in Australia and New Zealand. On April 2, 2026 IFF launched PureStrong™, a probiotic formulated for dogs.
Technical Analysis
ADX at 12.91 indicates no dominant trend; directional indicators show DI+ decreasing while DI‑ registered a peak & reversal. That combination signals directional weakness that may cap near‑term upside despite episodic momentum spikes.
MACD sits negative at -0.52 but shows a dip & reversal, indicating bullish momentum emergence; the MACD remains below the signal line (-0.40), so a bullish crossover has not occurred and momentum needs confirmation to translate into sustained upside.
MRO reads 8.63 and shows a dip & reversal; because MRO sits positive the price currently trades modestly above the modeled target, implying susceptibility to downward pressure if momentum stalls.
RSI at 49.1 with a dip & reversal places momentum near neutral; the recent reversal in momentum indicators suggests short windows for mean reversion but lacks trend confirmation from ADX and moving averages.
Price sits at $70.77, below the 20‑day ($71.47) and 50‑day ($72.52) averages but above the 200‑day average ($68.69). Shorter EMAs trend lower (12‑day EMA decreasing), Bollinger bands place $70.77 between the 1‑standard deviation band ($69.46–$73.48), and Ichimoku components cluster above price (Tenkan 72.48; Kijun 72.27). These overlays point to intra‑range trading with resistance near the low 70s and technical support toward the high‑60s unless momentum crossover events occur.
Fundamental Analysis
Revenue totaled $2,589,000,000 with gross profit $890,000,000 and EBITDA $308,000,000. EBIT measured $71,000,000, yielding an EBIT margin of 2.742%, below the industry peer mean of 4.158% and well under the industry peer median of 17.712%. QoQ the EBIT margin contracted by -28.964%; YoY the reported change equals -265.181% year‑over‑year, reflecting recent margin pressure following portfolio shifts and one‑time items.
Net income reached $31,000,000 while operating cash flow totaled $318,000,000 and free cash flow totaled $130,000,000; free cash flow yield stands at 0.735%. Cash conversion shows operating cash flow and a cash conversion ratio of 1.5587, indicating cash generation outpaced reported earnings in the period but free cash flow growth declined YoY by -18.20%.
Leverage remains elevated on an earnings basis: total debt $6,619,000,000, net debt $5,404,000,000 and debt/EBITDA about 21.49x; interest coverage registers 1.45x. These readings reflect a capital structure that reduces margin for error on operating deterioration and places a premium on cash generation from divestitures and productivity gains.
Key market multiples: trailing PE 86.5x, forward PE ~54.7x, price/sales 6.83x, and price/book 1.25x versus an industry peer mean price/book of 5.62 and industry peer median of 7.89 — IFF’s price/book stands below peer central tendencies. PEG ratios remain negative on reported metrics; forward EPS ~$1.187 and forward PE 54.7x compress valuation relative to forward earnings expectations.
Revenue trends show contraction: revenue growth YoY -25.964% with a QoQ rebound of +53.889% (quarterly timing effects from disposals and portfolio reclassification affect comparability). Operating margin and return metrics (ROA 0.121%, ROE 0.219%) remain low, consistent with recent restructuring and disposal activity. Dividend maintains $0.40 per share (dividend yield ~0.582%) with a dividend payout ratio of 332.258% and dividend coverage ratio 30.097%, reflecting a payout level materially above current earnings.
WMDST values the stock as under‑valued. That valuation rests on cashflow generation, the proceeds and margin benefit expected from completed divestitures, and a mean analyst target near $72.22 versus current price $70.77, implying limited upside from consensus targets absent stronger margin recovery or lower leverage.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-02-11 |
| NEXT REPORT DATE: | 2026-05-13 |
| CASH FLOW | Begin Period Cash Flow | $ 621.0 M |
| Operating Cash Flow | $ 318.0 M | |
| Capital Expenditures | $ -188.00 M | |
| Change In Working Capital | $ 106.0 M | |
| Dividends Paid | $ -103.00 M | |
| Cash Flow Delta | $ -31.00 M | |
| End Period Cash Flow | $ 590.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 2.6 B | |
| Forward Revenue | $ 6.3 B | |
| COSTS | ||
| Cost Of Revenue | $ 1.7 B | |
| Depreciation | $ -40.00 M | |
| Depreciation and Amortization | $ 237.0 M | |
| Research and Development | $ 174.0 M | |
| Total Operating Expenses | $ 2.5 B | |
| PROFITABILITY | ||
| Gross Profit | $ 890.0 M | |
| EBITDA | $ 308.0 M | |
| EBIT | $ 71.0 M | |
| Operating Income | $ 113.0 M | |
| Interest Income | — | |
| Interest Expense | $ 49.0 M | |
| Net Interest Income | $ -49.00 M | |
| Income Before Tax | $ 22.0 M | |
| Tax Provision | $ -9.00 M | |
| Tax Rate | 21.0 % | |
| Net Income | $ 31.0 M | |
| Net Income From Continuing Operations | $ 31.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.83 | |
| EPS Actual | $ 0.80 | |
| EPS Difference | $ -0.03 | |
| EPS Surprise | -3.614 % | |
| Forward EPS | $ 1.19 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 25.5 B | |
| Intangible Assets | $ 14.3 B | |
| Net Tangible Assets | $ -158.00 M | |
| Total Current Assets | $ 5.6 B | |
| Cash and Short-Term Investments | $ 590.0 M | |
| Cash | $ 590.0 M | |
| Net Receivables | $ 1.7 B | |
| Inventory | $ 2.4 B | |
| Long-Term Investments | $ 516.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 1.3 B | |
| Short-Term Debt | $ 1.3 B | |
| Total Current Liabilities | $ 3.9 B | |
| Net Debt | $ 5.4 B | |
| Total Debt | $ 6.6 B | |
| Total Liabilities | $ 11.4 B | |
| EQUITY | ||
| Total Equity | $ 14.2 B | |
| Retained Earnings | $ -3.42 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 55.35 | |
| Shares Outstanding | 255.700 M | |
| Revenue Per-Share | $ 10.13 | |
| VALUATION | Market Capitalization | $ 17.7 B |
| Enterprise Value | $ 23.7 B | |
| Enterprise Multiple | 77.001 | |
| Enterprise Multiple QoQ | 19.05 % | |
| Enterprise Multiple YoY | -34.958 % | |
| Enterprise Multiple IPRWA | high: 96.644 median: 85.541 IFF: 77.001 mean: 73.792 low: -33.169 |
|
| EV/R | 9.16 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.804 | |
| Asset To Liability | 2.25 | |
| Debt To Capital | 0.319 | |
| Debt To Assets | 0.259 | |
| Debt To Assets QoQ | -0.173 % | |
| Debt To Assets YoY | 425.806 % | |
| Debt To Assets IPRWA | high: 0.595 median: 0.364 mean: 0.318 IFF: 0.259 low: 0.003 |
|
| Debt To Equity | 0.468 | |
| Debt To Equity QoQ | -0.453 % | |
| Debt To Equity YoY | 359.236 % | |
| Debt To Equity IPRWA | high: 2.027 median: 0.921 mean: 0.761 IFF: 0.468 low: 0.003 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.25 | |
| Price To Book QoQ | 6.99 % | |
| Price To Book YoY | -22.514 % | |
| Price To Book IPRWA | high: 9.263 median: 7.894 mean: 5.624 IFF: 1.25 low: 0.272 |
|
| Price To Earnings (P/E) | 86.465 | |
| Price To Earnings QoQ | 39.886 % | |
| Price To Earnings YoY | -4.173 % | |
| Price To Earnings IPRWA | high: 308.977 median: 131.484 IFF: 86.465 mean: 75.667 low: -280.188 |
|
| PE/G Ratio | -3.631 | |
| Price To Sales (P/S) | 6.832 | |
| Price To Sales QoQ | 10.648 % | |
| Price To Sales YoY | -15.405 % | |
| Price To Sales IPRWA | high: 20.026 median: 18.382 mean: 14.53 IFF: 6.832 low: 1.224 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 54.695 | |
| Forward PE/G | -2.297 | |
| Forward P/S | 2.758 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 8.141 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.101 | |
| Asset Turnover Ratio QoQ | -2.812 % | |
| Asset Turnover Ratio YoY | 6.703 % | |
| Asset Turnover Ratio IPRWA | high: 0.251 median: 0.173 mean: 0.158 IFF: 0.101 low: 0.004 |
|
| Receivables Turnover | 1.438 | |
| Receivables Turnover Ratio QoQ | -2.029 % | |
| Receivables Turnover Ratio YoY | -11.863 % | |
| Receivables Turnover Ratio IPRWA | high: 2.514 mean: 1.49 IFF: 1.438 median: 1.319 low: 0.211 |
|
| Inventory Turnover | 0.706 | |
| Inventory Turnover Ratio QoQ | 2.187 % | |
| Inventory Turnover Ratio YoY | -9.513 % | |
| Inventory Turnover Ratio IPRWA | high: 2.161 median: 1.553 mean: 1.304 IFF: 0.706 low: 0.104 |
|
| Days Sales Outstanding (DSO) | 63.441 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 123.226 | |
| Cash Conversion Cycle Days QoQ | 0.0 % | |
| Cash Conversion Cycle Days YoY | 15.167 % | |
| Cash Conversion Cycle Days IPRWA | high: 305.407 IFF: 123.226 mean: 77.241 median: 51.056 low: 17.024 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.559 | |
| CapEx To Revenue | -0.073 | |
| CapEx To Depreciation | 4.7 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 18.9 B | |
| Net Invested Capital | $ 20.1 B | |
| Invested Capital | $ 20.1 B | |
| Net Tangible Assets | $ -158.00 M | |
| Net Working Capital | $ 1.7 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.15 | |
| Current Ratio | 1.422 | |
| Current Ratio QoQ | -1.508 % | |
| Current Ratio YoY | -22.896 % | |
| Current Ratio IPRWA | high: 5.668 mean: 1.748 IFF: 1.422 median: 1.076 low: 0.193 |
|
| Quick Ratio | 0.821 | |
| Quick Ratio QoQ | -2.489 % | |
| Quick Ratio YoY | -37.972 % | |
| Quick Ratio IPRWA | high: 3.941 mean: 1.201 IFF: 0.821 median: 0.807 low: 0.745 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 21.49 | |
| Cost Of Debt | 0.519 % | |
| Interest Coverage Ratio | 1.449 | |
| Interest Coverage Ratio QoQ | -33.124 % | |
| Interest Coverage Ratio YoY | -317.346 % | |
| Interest Coverage Ratio IPRWA | high: 27.334 median: 8.965 mean: 6.15 IFF: 1.449 low: -36.595 |
|
| Operating Cash Flow Ratio | 0.126 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 68.558 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 0.301 | |
| Dividend Payout Ratio | 3.323 | |
| Dividend Rate | $ 0.40 | |
| Dividend Yield | 0.006 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.889 % | |
| Revenue Growth | -3.898 % | |
| Revenue Growth QoQ | 53.889 % | |
| Revenue Growth YoY | -25.964 % | |
| Revenue Growth IPRWA | high: 18.339 % median: 0.744 % mean: -0.084 % IFF: -3.898 % low: -42.757 % |
|
| Earnings Growth | -23.81 % | |
| Earnings Growth QoQ | 173.804 % | |
| Earnings Growth YoY | 253.736 % | |
| Earnings Growth IPRWA | high: 47.368 % median: 0.483 % mean: -16.302 % IFF: -23.81 % low: -166.667 % |
|
| MARGINS | ||
| Gross Margin | 34.376 % | |
| Gross Margin QoQ | -5.788 % | |
| Gross Margin YoY | -2.799 % | |
| Gross Margin IPRWA | high: 45.15 % median: 44.032 % mean: 35.664 % IFF: 34.376 % low: -46.689 % |
|
| EBIT Margin | 2.742 % | |
| EBIT Margin QoQ | -28.964 % | |
| EBIT Margin YoY | -265.181 % | |
| EBIT Margin IPRWA | high: 19.701 % median: 17.712 % mean: 4.158 % IFF: 2.742 % low: -160.328 % |
|
| Return On Sales (ROS) | 4.365 % | |
| Return On Sales QoQ | -51.408 % | |
| Return On Sales YoY | -362.952 % | |
| Return On Sales IPRWA | high: 19.836 % median: 18.746 % mean: 14.058 % IFF: 4.365 % low: -62.942 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 130.0 M | |
| Free Cash Flow Yield | 0.735 % | |
| Free Cash Flow Yield QoQ | 308.333 % | |
| Free Cash Flow Yield YoY | -20.883 % | |
| Free Cash Flow Yield IPRWA | high: 3.973 % mean: 1.233 % median: 0.983 % IFF: 0.735 % low: -8.768 % |
|
| Free Cash Growth | 333.333 % | |
| Free Cash Growth QoQ | -519.54 % | |
| Free Cash Growth YoY | -1819.985 % | |
| Free Cash Growth IPRWA | IFF: 333.333 % high: 164.557 % median: 43.1 % mean: 21.625 % low: -136.967 % |
|
| Free Cash To Net Income | 4.194 | |
| Cash Flow Margin | 19.081 % | |
| Cash Flow To Earnings | 15.935 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 0.121 % | |
| Return On Assets QoQ | -21.429 % | |
| Return On Assets YoY | -177.07 % | |
| Return On Assets IPRWA | high: 2.61 % median: 2.321 % mean: 0.825 % IFF: 0.121 % low: -17.113 % |
|
| Return On Capital Employed (ROCE) | 0.329 % | |
| Return On Equity (ROE) | 0.002 | |
| Return On Equity QoQ | -22.064 % | |
| Return On Equity YoY | -165.964 % | |
| Return On Equity IPRWA | high: 0.058 median: 0.058 mean: 0.021 IFF: 0.002 low: -0.507 |
|
| DuPont ROE | 0.218 % | |
| Return On Invested Capital (ROIC) | 0.278 % | |
| Return On Invested Capital QoQ | -25.867 % | |
| Return On Invested Capital YoY | -107.221 % | |
| Return On Invested Capital IPRWA | high: 3.554 % median: 3.554 % mean: 1.815 % IFF: 0.278 % low: -18.25 % |
|