NYSE · IFF

International Flavors & Fragrances Inc.

Basic Materials · Chemicals - Specialty

$84.05▼ 0.31% ($0.26)at close

As of 4:00 PM ET

52-week

$59.14$89.32

Market cap

$21.46B

What the market price implies · Reverse DCF

To support a price of $84.05, this model requires revenue to grow by 10.73%/yr over the next 10 years, compounded annually.

Historical revenue grew by -1.69%/yr over the past 4 years. The required annual growth rate is 12.42 percentage points higher.

Selected forecast · Base scenario

0.8%/yr · actual 10-year annualized revenue growth

Year 1 growth: 0%

Market-implied · Base operating assumptions + edited margins

10.73%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$84.05

Estimated value / share

$35.06

Base scenario

This estimate is 58.29% below the price used.

USD · TTM ending 2026-06-30

Latest quarterly growth differs materially from the latest annual pace. It remains an observed growth input; review whether acceleration or a change in the business explains it.

Year 1 growth 0% · Ending margin 7.82% · Discount rate 8.61%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 10, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 11, 2026, 5:15 AM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Only 2 consecutive positive FCFF years are available.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: 30.35%Revenue (TTM): -11.72%FCF (TTM): -4.29%P/FCF: 59th pct

What changed

The stock rose 30.35% over the last year. Revenue declined 11.72% over the trailing twelve months. Operating margin moved from -2.91% to 7.78%. Free cash flow declined 4.29% over the trailing twelve months.

What the market seems to be pricing

The stock has moved higher against modestly weakening underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.

What would invalidate this read

Operating margin currently stands at 7.78%. A decisive move in revenue — currently down 11.72% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

International Flavors & Fragrances Inc. (IFF), through its various subsidiaries, operates as a global developer and purveyor of active cosmetic and natural health ingredients.

CEOJon Erik Fyrwald

SectorBasic Materials

IndustryChemicals - Specialty

Employees21,500

IPO dateDec 17, 1974

https://www.iff.com

Market multiples

Forward P/E—

EV/EBITDA29.93

Enterprise value$23.31B

Stock splits

Jan 20, 1994↑ Forward

Every 1 shares became 3

+200%

Dec 17, 1974↑ Forward

Every 50 shares became 51

+2%

Profitability & growth

Revenue growth-29.31%

Gross margin37.52%▲0.3ppvs FY2024

Operating margin7.78%▲1.1ppvs FY2024

ROE2.04%▲4.6ppvs FY2025

Analyst consensus

RatingBuy

Target price$95.00▲13.03%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 3, 2026

Q4 FY26 · EPS est $0.80 · Revenue est $1.9B

View

Dividends

$1.60/shareQuarterlyEx-div Sep 18, 2026 · in 7dStretched

IFF pays a dividend with a 1.9% declared yield, covered 0.6× by free cash flow.

Declared Yield

1.9%

Annual Div / Share

$1.60

5yr CAGR

-12.39%

Dividend has been cut

Payout Ratio

141.03%

Stretched

Dividend Growth Rate

3yr CAGR

-20.96%

5yr CAGR

-12.39%

10yr CAGR

-3.65%

Dividend Safety

2/10Stretched

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$1.60+0.0%

2025$1.60-20.4%

2024$2.01-38.0%

2023$3.24+1.9%

2022$3.18+2.6%

2021$3.10+2.6%

2020$3.02+2.7%

Income Projection

Invest

Growth rate:

Reinvest dividends

Today

$19/yr

$2/mo

In 5 yrs

$19/yr

$2/mo

In 10 yrs

$19/yr

$2/mo

Today	In 5 yrs	In 10 yrs
$19/yr $2/mo	$19/yr $2/mo	$19/yr $2/mo

Analysis

Dividend Strengths

No strong strength signal stands out from the latest period pair.

Risks to Watch

High payout ratio

With 141.03% of earnings paid as dividends, there is limited retained earnings for reinvestment — and a dividend cut becomes more likely if earnings decline.

Dividend exceeds free cash flow

Free cash flow covers only 0.63× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.

Dividend has been reduced

The 5-year dividend CAGR of -12.39% is negative, indicating the payout has been cut over this period.

NYSE · IFF

International Flavors & Fragrances Inc.

Basic Materials · Chemicals - Specialty

$84.05▼ 0.31% ($0.26)at close

As of 4:00 PM ET

52-week

$59.14$89.32

Market cap

$21.46B

What the market price implies · Reverse DCF

To support a price of $84.05, this model requires revenue to grow by 10.73%/yr over the next 10 years, compounded annually.

Historical revenue grew by -1.69%/yr over the past 4 years. The required annual growth rate is 12.42 percentage points higher.

Selected forecast · Base scenario

0.8%/yr · actual 10-year annualized revenue growth

Year 1 growth: 0%

Market-implied · Base operating assumptions + edited margins

10.73%/yr · flat 10-year annualized revenue growth

Valuation

Recommended · Revenue & margin DCF

Price used

$84.05

Estimated value / share

$35.06

Base scenario

This estimate is 58.29% below the price used.

USD · TTM ending 2026-06-30

Latest quarterly growth differs materially from the latest annual pace. It remains an observed growth input; review whether acceleration or a change in the business explains it.

Year 1 growth 0% · Ending margin 7.82% · Discount rate 8.61%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 10, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 11, 2026, 5:15 AM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Only 2 consecutive positive FCFF years are available.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: 30.35%Revenue (TTM): -11.72%FCF (TTM): -4.29%P/FCF: 59th pct

What changed

What the market seems to be pricing

What would invalidate this read

Operating margin currently stands at 7.78%. A decisive move in revenue — currently down 11.72% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

International Flavors & Fragrances Inc. (IFF), through its various subsidiaries, operates as a global developer and purveyor of active cosmetic and natural health ingredients.

CEOJon Erik Fyrwald

SectorBasic Materials

IndustryChemicals - Specialty

Employees21,500

IPO dateDec 17, 1974

https://www.iff.com

Market multiples

Forward P/E—

EV/EBITDA29.93

Enterprise value$23.31B

Stock splits

Jan 20, 1994↑ Forward

Every 1 shares became 3

+200%

Dec 17, 1974↑ Forward

Every 50 shares became 51

+2%

Profitability & growth

Revenue growth-29.31%

Gross margin37.52%▲0.3ppvs FY2024

Operating margin7.78%▲1.1ppvs FY2024

ROE2.04%▲4.6ppvs FY2025

Analyst consensus

RatingBuy

Target price$95.00▲13.03%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 3, 2026

Q4 FY26 · EPS est $0.80 · Revenue est $1.9B

View

Dividends

$1.60/shareQuarterlyEx-div Sep 18, 2026 · in 7dStretched

IFF pays a dividend with a 1.9% declared yield, covered 0.6× by free cash flow.

Declared Yield

1.9%

Annual Div / Share

$1.60

5yr CAGR

-12.39%

Dividend has been cut

Payout Ratio

141.03%

Stretched

Dividend Growth Rate

3yr CAGR

-20.96%

5yr CAGR

-12.39%

10yr CAGR

-3.65%

Dividend Safety

2/10Stretched

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$1.60+0.0%

2025$1.60-20.4%

2024$2.01-38.0%

2023$3.24+1.9%

2022$3.18+2.6%

2021$3.10+2.6%

2020$3.02+2.7%

Income Projection

Invest

Growth rate:

Reinvest dividends

Today

$19/yr

$2/mo

In 5 yrs

$19/yr

$2/mo

In 10 yrs

$19/yr

$2/mo

Today	In 5 yrs	In 10 yrs
$19/yr $2/mo	$19/yr $2/mo	$19/yr $2/mo

Analysis

Dividend Strengths

No strong strength signal stands out from the latest period pair.

Risks to Watch

High payout ratio

With 141.03% of earnings paid as dividends, there is limited retained earnings for reinvestment — and a dividend cut becomes more likely if earnings decline.

Dividend exceeds free cash flow

Free cash flow covers only 0.63× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.

Dividend has been reduced

The 5-year dividend CAGR of -12.39% is negative, indicating the payout has been cut over this period.