International Flavors & Fragrances Inc. (IFF)

Over the past six months, from late April to late October 2025, IFF's stock price has experienced a notable decline. As of October 24, 2025, the share price was $65.91, a decrease of 35.03% from $101.45 on October 25, 2024. In Q1 2025, IFF reported approximately $2.8 billion in sales, representing 3% comparable currency-neutral growth, with adjusted operating IBITA increasing by 9% to $578 million. IFF successfully completed the divestiture of its Pharma Solutions segment as part of a broader portfolio optimization and deleveraging strategy. In Q2 2025, the company reported $1.15 EPS, beating estimates, and revenue of $2.76 billion, exceeding estimates, but quarterly revenue was down 4.3% compared to the same quarter last year. IFF declared a quarterly dividend of $0.40 per share, paid on October 10, 2025. Several analysts adjusted their ratings and price targets for IFF. IFF announced a strategic collaboration with BASF to accelerate the development of IFF's Designed Enzymatic Biomaterials™ technology platform.

The flavors and fragrances industry, in which IFF operates, is largely considered defensive as it is intrinsically linked to non-discretionary consumer staples. This provides underlying stability to demand, even during economic downturns. However, IFF has noted that the first quarter is typically its lowest free cash flow quarter of the year due to annual bonus payouts and other seasonal factors. While the industry generally experiences stable demand, specific product categories within IFF's portfolio may exhibit some seasonality based on consumer purchasing patterns for certain food, beverage, or personal care items throughout the year.

International Flavors & Fragrances, Inc. (IFF) is a global leader in the flavors, fragrances, and cosmetic active ingredients industry, headquartered in New York City. The company operates within the specialty chemicals sector, serving a diverse range of industries including food and beverage, personal care, home care, and pharmaceuticals. IFF is a member of the S&P 500 index. IFF creates and manufactures a wide array of products across taste, texture, scent, nutrition, enzymes, cultures, soy proteins, and probiotics categories. Its business is structured into four main segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions. The Nourish segment focuses on enhancing the taste and sensory experience of food and beverages, including savory and sweet flavors, natural extracts, and plant-based specialty food ingredients. The Health & Biosciences segment provides biotechnology and health-related solutions, including probiotics, enzymes, and food cultures. IFF is a global leader in the fragrance industry through its Scent segment, offering fine and consumer fragrances, and fragrance ingredients. The Pharma Solutions segment produces cellulosics and seaweed-based pharmaceutical excipients; however, IFF completed the divestiture of this segment on May 1, 2025.

IFF has a significant global presence with creative, sales, and manufacturing facilities in 44 countries. In 2023, its net sales were distributed geographically as follows: North America (30%), Europe-Africa-Middle East (33.4%), Asia (23.8%), and Latin America (12.8%). The company serves customers in over 200 markets worldwide.

IFF maintains a strong brand reputation, often recognized for its innovation and commitment to sustainability. In January 2025, IFF was awarded the 2024 Pharmaceutical Technology Excellence Awards' Brand Leadership category for its "Timing is..." drug delivery campaign. IFF has a strong commitment to sustainability, focusing on reducing its environmental footprint through responsible sourcing, eco-friendly product development, and innovative production methods. The recent strategic collaboration with BASF in October 2025 to develop sustainable enzyme and polymer technologies further enhances its reputation for innovation and sustainability. IFF has faced operational and financial challenges following its 2021 merger with DuPont's Nutrition & Biosciences business, including complex integration, customer inventory destocking, and raw material inflation.

As of October 2025, institutional investors hold approximately 85.58% to 96% of IFF's stock, while individual insiders own about 0.118% to 0.99%, and the general public/retail investors hold around 3.78% to 41.45%. Major institutional owners include Dodge & Cox, Vanguard Group Inc., Freemont Capital Pte Ltd, BlackRock, Inc., State Street Corp, and Geode Capital Management, Llc.