Latest Ratios: P/E Ratio -56.0x · EV/EBITDA 13.7x · ROE -2.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $20.9B | $17.3B | $21.6B | $20.6B | $26.7B | $36.6B | $12.4B | $14.6B | $11.8B | $12.1B | $9.4B |
| Enterprise Value | $27.0B | $23.3B | $30.8B | $30.8B | $38.0B | $48.1B | $16.4B | $18.7B | $15.7B | $13.4B | $10.4B |
| P/E Ratio → | -56.05 | — | 89.00 | — | — | 136.95 | 34.01 | 32.26 | 35.06 | 41.02 | 23.33 |
| P/S Ratio | 1.92 | 1.58 | 1.88 | 1.80 | 2.15 | 3.14 | 2.43 | 2.84 | 2.97 | 3.56 | 3.02 |
| P/B Ratio | 1.48 | 1.22 | 1.56 | 1.41 | 1.51 | 1.73 | 1.93 | 2.31 | 1.93 | 7.17 | 5.78 |
| P/FCF | 81.65 | 67.39 | 35.95 | 22.06 | — | 35.20 | 23.69 | 31.99 | 44.79 | 46.27 | 22.24 |
| P/OCF | 24.59 | 20.30 | 20.23 | 14.35 | 67.34 | 25.48 | 17.32 | 20.91 | 27.04 | 31.00 | 17.13 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.14 | 2.68 | 2.68 | 3.05 | 4.13 | 3.23 | 3.63 | 3.96 | 3.94 | 3.35 |
| EV / EBITDA | 13.74 | 11.88 | 17.29 | — | — | 27.62 | 18.45 | 18.90 | 20.77 | 19.96 | 15.91 |
| EV / EBIT | 26.96 | — | 52.82 | — | — | 74.79 | 28.68 | 26.87 | 27.12 | 22.22 | 18.08 |
| EV / FCF | — | 91.07 | 51.16 | 32.86 | — | 46.24 | 31.49 | 40.86 | 59.57 | 51.13 | 24.60 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.9% | 30.9% | 35.9% | 32.1% | 33.4% | 32.0% | 41.0% | 41.1% | 42.3% | 43.3% | 44.8% |
| Operating Margin | 9.2% | 9.2% | 6.7% | -18.4% | -10.7% | 5.0% | 11.1% | 12.9% | 14.7% | 16.3% | 17.7% |
| Net Profit Margin | -3.4% | -3.4% | 2.1% | -22.3% | -15.0% | 2.3% | 7.2% | 8.8% | 8.4% | 8.7% | 13.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -2.7% | -2.7% | 1.7% | -15.8% | -9.6% | 1.9% | 5.7% | 7.3% | 8.6% | 17.8% | 25.1% |
| ROA | -1.4% | -1.4% | 0.8% | -7.7% | -5.0% | 1.0% | 2.7% | 3.5% | 3.8% | 6.9% | 10.5% |
| ROIC | 3.5% | 3.5% | 2.4% | -5.9% | -3.2% | 2.0% | 4.1% | 4.9% | 6.7% | 14.8% | 16.2% |
| ROCE | 4.4% | 4.4% | 3.0% | -7.2% | -3.9% | 2.5% | 4.8% | 5.7% | 7.5% | 15.9% | 18.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.47 | 0.47 | 0.69 | 0.74 | 0.66 | 0.57 | 0.74 | 0.74 | 0.74 | 0.97 | 0.81 |
| Debt / EBITDA | 3.39 | 3.39 | 5.40 | — | — | 7.01 | 5.30 | 4.73 | 6.01 | 2.44 | 2.02 |
| Net Debt / Equity | — | 0.43 | 0.66 | 0.69 | 0.63 | 0.54 | 0.63 | 0.64 | 0.64 | 0.75 | 0.61 |
| Net Debt / EBITDA | 3.09 | 3.09 | 5.14 | — | — | 6.60 | 4.57 | 4.10 | 5.15 | 1.90 | 1.53 |
| Debt / FCF | — | 23.68 | 15.20 | 10.81 | — | 11.04 | 7.79 | 8.87 | 14.78 | 4.86 | 2.36 |
| Interest Coverage | -0.80 | -0.80 | 1.91 | -5.63 | -3.84 | 2.22 | 4.34 | 5.04 | 4.38 | 9.22 | 10.88 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.42 | 1.42 | 1.84 | 1.67 | 1.99 | 1.92 | 1.61 | 1.90 | 2.61 | 2.47 | 1.79 |
| Quick Ratio | 0.82 | 0.82 | 1.32 | 0.97 | 1.11 | 1.23 | 1.01 | 1.17 | 1.65 | 1.62 | 1.13 |
| Cash Ratio | 0.15 | 0.15 | 0.11 | 0.19 | 0.13 | 0.20 | 0.34 | 0.39 | 0.56 | 0.48 | 0.36 |
| Asset Turnover | — | 0.43 | 0.40 | 0.37 | 0.35 | 0.29 | 0.38 | 0.39 | 0.31 | 0.74 | 0.78 |
| Inventory Turnover | 3.18 | 3.18 | 3.26 | 2.96 | 2.51 | 3.15 | 2.65 | 2.70 | 2.13 | 2.97 | 2.91 |
| Days Sales Outstanding | — | 67.07 | 62.58 | 66.49 | 63.35 | 69.36 | 80.55 | 72.72 | 111.48 | 94.40 | 81.17 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.0% | 2.4% | 2.4% | 4.0% | 3.0% | 1.8% | 2.6% | 2.1% | 1.9% | 1.7% | 2.0% |
| Payout Ratio | — | — | 211.5% | — | — | 248.9% | 88.4% | 69.1% | 68.8% | 69.7% | 45.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 1.1% | — | — | 0.7% | 2.9% | 3.1% | 2.9% | 2.4% | 4.3% |
| FCF Yield | 1.2% | 1.5% | 2.8% | 4.5% | — | 2.8% | 4.2% | 3.1% | 2.2% | 2.2% | 4.5% |
| Buyback Yield | 0.2% | 0.2% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.5% | 1.4% |
| Total Shareholder Yield | 2.1% | 2.6% | 2.4% | 4.0% | 3.0% | 1.8% | 2.6% | 2.1% | 2.1% | 2.2% | 3.3% |
| Shares Outstanding | — | $256M | $256M | $255M | $255M | $243M | $114M | $113M | $88M | $79M | $80M |
High leverage and integration
As reported in financial statements, IFF trades at a forward P/E of 17.21, which appears to reflect a significant complexity discount compared to pure-play peers like Givaudan, suggesting that the market remains skeptical of the company's ability to successfully integrate its diverse portfolio and restore historical earnings power.
The negative TTM P/E ratio highlights the distortive impact of non-recurring charges on GAAP earnings, making forward-looking multiples more relevant for assessing valuation. Investors should monitor whether the current valuation adequately prices in the potential for margin expansion as the company sheds non-core assets and focuses on higher-margin biotech-derived ingredients.
Based on IFF's reported figures, ROIC has languished at low single-digit levels, including a 1.0% reading in 2026Q1, which indicates that the company is currently failing to generate returns on invested capital that exceed its cost of capital following the aggressive DuPont Nutrition & Biosciences acquisition.
The persistent decay in ROIC suggests that the capital deployed during the M&A-heavy growth phase has not yet yielded the expected synergies. A sustained recovery in returns will likely require both a reduction in the capital base through divestitures and a meaningful improvement in operating margins within the core Nourish and Scent segments.
According to recent SEC filings, IFF's cash conversion cycle remains elevated at 114 days in 2026Q1, driven by a substantial inventory holding period of 121 days, which highlights the operational challenges of managing a complex global supply chain in a period of volatile demand and raw material pricing.
The high inventory turnover days suggest that the company may be carrying excess stock, potentially to hedge against supply chain disruptions or as a result of slower-than-expected product sell-through. Improving this cycle is critical for freeing up cash flow to service debt and reduce the reliance on external financing.
As evidenced by the 2026Q1 interest coverage ratio of 6.66, IFF's ability to service its debt has improved from the distressed levels seen in 2025, yet the company's D/EBITDA ratio of 13.88 remains high, indicating that the balance sheet remains vulnerable to any further operational or macroeconomic shocks.
While the reduction in total debt is a positive step, the high leverage ratio suggests that the company remains in a precarious position. Investors should closely monitor the company's ability to maintain interest coverage as it navigates the divestiture of its Pharma Solutions unit and the associated loss of stable cash flows.
The most commonly misapplied metric for IFF is GAAP Net Income, which, as reported in financial statements, frequently obscures the company's underlying cash-generating potential due to significant non-cash amortization and restructuring charges related to the integration of the DuPont Nutrition & Biosciences unit and subsequent portfolio pruning.
Analysts should instead prioritize Free Cash Flow and Adjusted EBITDA to gauge the true operational health of the business. Relying on GAAP earnings in the current environment risks misinterpreting accounting-driven volatility as a fundamental collapse in the company's competitive moat or its ability to generate long-term shareholder value.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying IFF stock.
International Flavors & Fragrances Inc.'s current P/E ratio is -56.0x. The historical average is 29.3x.
International Flavors & Fragrances Inc.'s current EV/EBITDA is 13.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.6x.
International Flavors & Fragrances Inc.'s return on equity (ROE) is -2.7%. The historical average is 18.0%.
Based on historical data, International Flavors & Fragrances Inc. is trading at a P/E of -56.0x. Compare with industry peers and growth rates for a complete picture.
International Flavors & Fragrances Inc.'s current dividend yield is 1.95%.
International Flavors & Fragrances Inc. has 30.9% gross margin and 9.2% operating margin.
International Flavors & Fragrances Inc.'s Debt/EBITDA ratio is 3.4x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.