International Flavors & Fragrances Inc. (IFF) intrinsic value & 10-year financials
International Flavors & Fragrances Inc. (IFF) has a Graham intrinsic value of $31.41 per share. At $90.68 on Oct 17, 2026, the stock trades 189% above that value. Over the last 10 fiscal years revenue grew 14.9% a year to $10.9B, with an average return on invested capital of 3.6%.
- Graham intrinsic value
- $31.41
- Share price (Oct 17, 2026)
- $90.68
- Price vs Graham value
- 189% above
- Market cap
- $23.2B
- Revenue (FY2025)
- $10.9B
- Revenue growth (10-yr CAGR)
- 14.9%
- ROIC (10-yr avg)
- 3.6%
- Free cash flow (FY2025)
- $256.0M
IFF 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $10.9B | -$359.0M | -$1.41 | $256.0M | -3.5% | -1.5% |
| FY2024 | $11.5B | $247.0M | $0.95 | $607.0M | 6.7% | 2.9% |
| FY2023 | $11.5B | -$2.6B | -$10.05 | $936.0M | -18.4% | -7.9% |
| FY2022 | $12.4B | -$1.9B | -$7.32 | -$107.0M | -10.7% | -4.3% |
| FY2021 | $11.7B | $279.0M | $1.10 | $1.0B | 5.0% | 2.2% |
| FY2020 | $5.1B | $367.4M | $3.21 | $522.3M | 11.1% | 4.6% |
| FY2019 | $5.1B | $460.3M | $4.00 | $463.0M | 12.9% | 5.4% |
| FY2018 | $4.0B | $339.8M | $3.79 | $267.5M | 14.7% | 6.9% |
| FY2017 | $3.4B | $295.7M | $3.72 | $261.8M | 17.1% | 11.5% |
| FY2016 | $3.1B | $405.0M | $5.05 | $409.0M | 18.2% | 16.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
International Flavors & Fragrances is a consistent compounder, expanding top-line revenue at 14.9% annually over the past decade.
International Flavors & Fragrances has historically struggled to out-earn its cost of capital, averaging just 3.6% ROIC.
Over the decade, International Flavors & Fragrances shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, International Flavors & Fragrances is modeled at 14.9% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $31.41 per share.