Recent News
On July 9, 2025 IFF announced the timing of its second-quarter 2025 results and investor webcast to follow the August 5 close. On July 30, 2025 the board declared a $0.40 quarterly cash dividend payable October 10, 2025. The company’s August 5, 2025 second-quarter release reiterated full-year 2025 guidance, outlined a planned divestiture of its soy crush, concentrates & lecithin business to Bunge expected to close by year-end 2025, and described capital allocation priorities including repurchases funded from cash and operating cash flow.
Technical Analysis
ADX at 26.08 indicates emerging trend strength, lending weight to recent directional signals without implying trend exhaustion.
DI+ shows a decreasing trend while DI- shows a peak & reversal; the DI- peak & reversal implies a bullish directional tilt even as DI+ falls, signaling sellers lost momentum relative to buyers.
MACD registers -1.61 with a dip & reversal trend and the MACD line sitting slightly below its signal at -1.49; the dip & reversal suggests bullish momentum building even though the MACD remains negative and below the signal line.
MRO stands at -31.17 with a dip & reversal trend; the negative MRO indicates price sits below the model target and therefore implies upward potential toward fair-value levels implied by the valuation.
RSI at 38.08 and decreasing describes short-term bearish pressure but remains above extreme oversold levels, leaving room for a momentum-driven bounce if buying interest resumes.
Price sits at $60.96, below the 20-day average ($62.62), the 50-day average ($66.45) and the 200-day average ($75.59); Bollinger lower band near $60.81 places the current price just above the 1x lower band, consistent with stabilization risk-reward near recent lows. Ichimoku cloud values (Senkou A $69.29, Senkou B $70.94) keep price beneath the cloud, maintaining a broader bearish context that short-term momentum can nonetheless challenge.
Fundamental Analysis
Revenue totaled $2,764,000,000 with year-over-year revenue growth of 7.06% and quarter-over-quarter revenue change of -2.07%, indicating healthy annual expansion offset by some near-term sequential softness.
Operating margin stands at 7.96% while EBIT margin measures 21.53%; EBIT margin improved 1.37% year-over-year but contracted -1.66% quarter-over-quarter, showing stronger underlying profitability on an annual basis despite recent compression.
EPS came in at $1.15 versus an estimate of $1.12, producing an EPS surprise of 2.68%, while forward EPS sits at $1.1525 and forward P/E at 66.28. Trailing P/E reads 65.56, reflecting elevated multiple relative to absolute earnings but consistent with modest forward growth expectations and sector dynamics.
Capital structure shows total debt of $6,850,000,000 and net debt of $5,368,000,000 with debt to EBITDA of 8.18; interest coverage equals 9.75x. Debt-to-EBITDA suggests material leverage, whereas coverage reflects an adequate ability to service interest expense given current operating earnings.
Cash generation shows operating cash flow of $241,000,000 and free cash flow of $146,000,000, with a free cash flow yield near 0.80% and cash on hand of $816,000,000. The cash conversion cycle of 114.15 days exceeds the peer mean of 91.22 days, indicating working capital turns lag some peers and tying up capital in the short term.
Return measures: return on assets 2.25% and return on equity 4.25% with duPont ROE around 4.44%, consistent with modest capital efficiency while intangible assets weigh on tangible equity (net tangible assets negative $309,000,000).
Valuation context: WMDST values the stock as under-valued based on enterprise and equity metrics, supported by lower price-to-book (P/B 1.27) and price-to-sales (P/S 6.59) multiples relative to typical specialty-chemicals comparable ranges, even as P/E multiples run elevated given current earnings. The divestiture activity and reiterated guidance frame a clearer earnings base and potential capital return optionality.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-08-05 |
| NEXT REPORT DATE: | 2025-11-04 |
| CASH FLOW | Begin Period Cash Flow | $ 650.0 M |
| Operating Cash Flow | $ 241.0 M | |
| Capital Expenditures | $ -95.00 M | |
| Change In Working Capital | $ -133.00 M | |
| Dividends Paid | $ -102.00 M | |
| Cash Flow Delta | $ 166.0 M | |
| End Period Cash Flow | $ 816.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 2.8 B | |
| Forward Revenue | $ 333.5 M | |
| COSTS | ||
| Cost Of Revenue | $ 1.7 B | |
| Depreciation | $ 97.0 M | |
| Depreciation and Amortization | $ 242.0 M | |
| Research and Development | $ 182.0 M | |
| Total Operating Expenses | $ 2.5 B | |
| PROFITABILITY | ||
| Gross Profit | $ 1.0 B | |
| EBITDA | $ 837.0 M | |
| EBIT | $ 595.0 M | |
| Operating Income | $ 220.0 M | |
| Interest Income | — | |
| Interest Expense | $ 61.0 M | |
| Net Interest Income | $ -61.00 M | |
| Income Before Tax | $ 534.0 M | |
| Tax Provision | $ -78.00 M | |
| Tax Rate | 21.0 % | |
| Net Income | $ 612.0 M | |
| Net Income From Continuing Operations | $ 612.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.12 | |
| EPS Actual | $ 1.15 | |
| EPS Difference | $ 0.03 | |
| EPS Surprise | 2.679 % | |
| Forward EPS | $ 1.15 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 26.1 B | |
| Intangible Assets | $ 14.7 B | |
| Net Tangible Assets | $ -309.00 M | |
| Total Current Assets | $ 5.9 B | |
| Cash and Short-Term Investments | $ 816.0 M | |
| Cash | $ 816.0 M | |
| Net Receivables | $ 1.8 B | |
| Inventory | $ 2.5 B | |
| Long-Term Investments | $ 258.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 1.3 B | |
| Short-Term Debt | $ 500.0 M | |
| Total Current Liabilities | $ 3.2 B | |
| Net Debt | $ 5.4 B | |
| Total Debt | $ 6.8 B | |
| Total Liabilities | $ 11.7 B | |
| EQUITY | ||
| Total Equity | $ 14.4 B | |
| Retained Earnings | $ -3.21 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 56.20 | |
| Shares Outstanding | 256.300 M | |
| Revenue Per-Share | $ 10.78 | |
| VALUATION | Market Capitalization | $ 18.2 B |
| Enterprise Value | $ 24.3 B | |
| Enterprise Multiple | 28.986 | |
| Enterprise Multiple QoQ | -167.781 % | |
| Enterprise Multiple YoY | -39.008 % | |
| Enterprise Multiple IPRWA | high: 85.583 median: 85.583 mean: 63.222 IFF: 28.986 low: -118.916 |
|
| EV/R | 8.778 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.813 | |
| Asset To Liability | 2.235 | |
| Debt To Capital | 0.322 | |
| Debt To Assets | 0.262 | |
| Debt To Assets QoQ | -25.213 % | |
| Debt To Assets YoY | 889.585 % | |
| Debt To Assets IPRWA | high: 0.733 median: 0.378 mean: 0.35 IFF: 0.262 low: 0.003 |
|
| Debt To Equity | 0.476 | |
| Debt To Equity QoQ | -36.772 % | |
| Debt To Equity YoY | 765.756 % | |
| Debt To Equity IPRWA | high: 2.523 median: 0.962 mean: 0.874 IFF: 0.476 low: 0.003 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.265 | |
| Price To Book QoQ | -16.964 % | |
| Price To Book YoY | -24.938 % | |
| Price To Book IPRWA | high: 14.757 median: 8.223 mean: 5.733 IFF: 1.265 low: 0.307 |
|
| Price To Earnings (P/E) | 65.562 | |
| Price To Earnings QoQ | 0.191 % | |
| Price To Earnings YoY | -19.089 % | |
| Price To Earnings IPRWA | high: 139.289 median: 139.289 mean: 108.11 IFF: 65.562 low: -3.22 |
|
| PE/G Ratio | -15.734 | |
| Price To Sales (P/S) | 6.595 | |
| Price To Sales QoQ | -6.638 % | |
| Price To Sales YoY | -20.718 % | |
| Price To Sales IPRWA | high: 20.44 median: 19.039 mean: 13.699 IFF: 6.595 low: 0.914 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 66.285 | |
| Forward PE/G | -15.907 | |
| Forward P/S | 54.652 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 59.186 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.102 | |
| Asset Turnover Ratio QoQ | 1.772 % | |
| Asset Turnover Ratio YoY | 5.875 % | |
| Asset Turnover Ratio IPRWA | high: 0.334 median: 0.175 mean: 0.167 IFF: 0.102 low: 0.003 |
|
| Receivables Turnover | 1.56 | |
| Receivables Turnover Ratio QoQ | -7.636 % | |
| Receivables Turnover Ratio YoY | 1.317 % | |
| Receivables Turnover Ratio IPRWA | high: 2.422 IFF: 1.56 mean: 1.474 median: 1.361 low: 0.117 |
|
| Inventory Turnover | 0.711 | |
| Inventory Turnover Ratio QoQ | -8.967 % | |
| Inventory Turnover Ratio YoY | -4.992 % | |
| Inventory Turnover Ratio IPRWA | high: 2.465 median: 1.426 mean: 1.234 IFF: 0.711 low: 0.034 |
|
| Days Sales Outstanding (DSO) | 58.484 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 114.152 | |
| Cash Conversion Cycle Days QoQ | 8.147 % | |
| Cash Conversion Cycle Days YoY | 0.13 % | |
| Cash Conversion Cycle Days IPRWA | high: 488.171 IFF: 114.152 mean: 91.225 median: 55.264 low: -103.0 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.007 | |
| CapEx To Revenue | -0.034 | |
| CapEx To Depreciation | -0.979 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 20.1 B | |
| Net Invested Capital | $ 20.6 B | |
| Invested Capital | $ 20.6 B | |
| Net Tangible Assets | $ -309.00 M | |
| Net Working Capital | $ 2.7 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.256 | |
| Current Ratio | 1.862 | |
| Current Ratio QoQ | -0.614 % | |
| Current Ratio YoY | -21.724 % | |
| Current Ratio IPRWA | high: 6.372 mean: 1.988 IFF: 1.862 median: 1.442 low: 0.717 |
|
| Quick Ratio | 1.076 | |
| Quick Ratio QoQ | -20.809 % | |
| Quick Ratio YoY | -37.053 % | |
| Quick Ratio IPRWA | high: 3.851 mean: 1.364 median: 1.122 IFF: 1.076 low: 0.803 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 8.184 | |
| Cost Of Debt | 0.575 % | |
| Interest Coverage Ratio | 9.754 | |
| Interest Coverage Ratio QoQ | -175.032 % | |
| Interest Coverage Ratio YoY | 194.112 % | |
| Interest Coverage Ratio IPRWA | high: 24.749 IFF: 9.754 median: 9.66 mean: 7.163 low: -45.933 |
|
| Operating Cash Flow Ratio | 0.216 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 67.453 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 6.0 | |
| Dividend Payout Ratio | 0.167 | |
| Dividend Rate | $ 0.40 | |
| Dividend Yield | 0.006 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -7.585 % | |
| Revenue Growth | -2.779 % | |
| Revenue Growth QoQ | -206.967 % | |
| Revenue Growth YoY | 705.507 % | |
| Revenue Growth IPRWA | high: 47.859 % mean: 9.628 % median: 8.936 % IFF: -2.779 % low: -4.472 % |
|
| Earnings Growth | -4.167 % | |
| Earnings Growth QoQ | -117.574 % | |
| Earnings Growth YoY | -256.949 % | |
| Earnings Growth IPRWA | high: 346.154 % mean: 30.64 % median: 26.0 % IFF: -4.167 % low: -380.0 % |
|
| MARGINS | ||
| Gross Margin | 37.265 % | |
| Gross Margin QoQ | 2.362 % | |
| Gross Margin YoY | 0.803 % | |
| Gross Margin IPRWA | high: 62.406 % median: 44.778 % mean: 37.747 % IFF: 37.265 % low: -24.576 % |
|
| EBIT Margin | 21.527 % | |
| EBIT Margin QoQ | -166.306 % | |
| EBIT Margin YoY | 137.369 % | |
| EBIT Margin IPRWA | high: 46.541 % IFF: 21.527 % median: 18.287 % mean: 14.12 % low: -33.607 % |
|
| Return On Sales (ROS) | 7.959 % | |
| Return On Sales QoQ | -124.515 % | |
| Return On Sales YoY | -12.239 % | |
| Return On Sales IPRWA | high: 23.528 % median: 18.253 % mean: 14.772 % IFF: 7.959 % low: -33.437 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 146.0 M | |
| Free Cash Flow Yield | 0.801 % | |
| Free Cash Flow Yield QoQ | -409.266 % | |
| Free Cash Flow Yield YoY | 24.186 % | |
| Free Cash Flow Yield IPRWA | high: 5.667 % mean: 1.028 % IFF: 0.801 % median: 0.633 % low: -1.464 % |
|
| Free Cash Growth | -380.769 % | |
| Free Cash Growth QoQ | 204.615 % | |
| Free Cash Growth YoY | -58.422 % | |
| Free Cash Growth IPRWA | high: 333.766 % median: 268.897 % mean: 63.24 % IFF: -380.769 % low: -926.923 % |
|
| Free Cash To Net Income | 0.239 | |
| Cash Flow Margin | 24.928 % | |
| Cash Flow To Earnings | 1.126 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 2.251 % | |
| Return On Assets QoQ | -162.947 % | |
| Return On Assets YoY | 298.407 % | |
| Return On Assets IPRWA | high: 11.068 % median: 2.274 % IFF: 2.251 % mean: 1.302 % low: -18.758 % |
|
| Return On Capital Employed (ROCE) | 2.594 % | |
| Return On Equity (ROE) | 0.042 | |
| Return On Equity QoQ | -154.996 % | |
| Return On Equity YoY | 256.161 % | |
| Return On Equity IPRWA | high: 0.233 median: 0.056 IFF: 0.042 mean: 0.036 low: -0.393 |
|
| DuPont ROE | 4.438 % | |
| Return On Invested Capital (ROIC) | 2.283 % | |
| Return On Invested Capital QoQ | -192.617 % | |
| Return On Invested Capital YoY | -98.962 % | |
| Return On Invested Capital IPRWA | high: 4.864 % median: 3.363 % mean: 2.486 % IFF: 2.283 % low: -11.907 % |
|