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Companies · IFF

IFF Reported this cycle

International Flavors & Fragrances

New York, NY Founded 1909 Chemicals & Materials

AI-generated · informational only · not investment advice · verify before relying.

Latest analysis

Updated Nov 4, 2026

IFF raises full-year guidance low end after Q3 revenue of ~$2B with 5% currency-neutral growth across all three continuing segments.

IFF delivered broad-based Q3 2026 growth, with Taste and Scent each up 6% on a currency-neutral basis and Health & Biosciences up 1%, enabling management to raise the low end of full-year revenue guidance to $7.5–7.6B and EBITDA guidance to $1.55–1.6B. The near-term risk is concentrated in Health & Biosciences, where dietary supplement end-market softness in the US and Europe is compounding logistics and energy cost inflation, creating unfavorable net price-to-input-cost dynamics expected to persist into Q1 2027. The Food Ingredients divestiture to CBC Capital Partners for approximately $4.3 billion remains on track for H1 2027 close, after which IFF will focus entirely on Taste, Scent, and Health & Biosciences.

Tone: mixed

Revenue

$10.9B

IFF 10-K · FY 2025

Employees

21,500

Revenue FY2024

$11.5B

EBITDA margin

20.8%

Profile

IFF 10-K Item 1 · Feb 27, 2026

International Flavors & Fragrances (IFF) is a global manufacturer of flavors, fragrances, food ingredients, and biotechnology-derived specialty ingredients sold to consumer product manufacturers across food, beverage, home and personal care, and health and wellness markets. The company operates through four active segments — Taste, Food Ingredients, Health & Biosciences, and Scent — following the divestiture of its Pharma Solutions segment in May 2025. With approximately $10.9 billion in 2025 sales and roughly 170 manufacturing and creative facilities across 30 countries, IFF holds leadership positions across key ingredient categories including enzymes, cultures, probiotics, soy proteins, and fragrance compounds.

Read filing description ↓

We are a leading creator and manufacturer of products for application in food, beverage, health & biosciences, and scent, as well as complementary adjacent products, including natural health ingredients, all of which are used in a wide variety of consumer and end-use products. Our products are sold principally to manufacturers of dairy, meat, beverages, snacks, savory, sweet, baked goods, grain processors and other foods, personal care products, soaps and detergents, cleaning products, perfumes, dietary supplements, food protection, infant, elderly and animal nutrition, functional food, bio-fuel, and oral care products. As a result, we hold global leadership positions in the Food & Beverage, Home & Personal Care and Health & Wellness markets, and across key Tastes, Textures, Scents, Nutrition, Enzymes, Cultures, Soy Proteins and Probiotics categories, among others. Sales in 2025 were $10.890 billion. Our business is geographically diverse, with sales in the U.S. representing approximately 28% of sales in 2025. No other country represented more than 10% of sales. In 2025, no customer accounted for 10% or more of sales. During the year ended December 31, 2025, our business consisted of five segments: Taste, Food Ingredients, Health & Biosciences, Scent and, until the completion of the divestitures of both the Pharma Solutions and Nitrocellulose disposal groups in May 2025, Pharma Solutions. Effective January 1, 2025, our former Nourish segment was restructured into two newly designated operating segments: Taste and Food Ingredients.

Primary products

  • flavor compounds
  • natural taste solutions
  • value-added spices and seasoning ingredients
  • plant-based specialty food ingredients
  • specialty soy and pea protein
  • emulsifiers and sweeteners

Business segments

Taste Food Ingredients Health & Biosciences Scent Pharma Solutions

End markets

dairy meat beverages snacks savory sweet baked goods grain processors personal care products soaps and detergents cleaning products perfumes dietary supplements food protection infant nutrition elderly nutrition animal nutrition functional food bio-fuel oral care products

Geographies

United States Europe, Africa & the Middle East North America Greater Asia Latin America

Named competitors

Givaudan Novonesis DSM-Firmenich Symrise Kerry ADM
“We believe that our ability to create products with the sustainability-related attributes customers expect and compete successfully in the various sub-markets is based on, among other things: our in-depth understanding of our customers and consumers, vertical integration, innovation and technological advances from our research and development activities and, as applicable, our scientists, our ability to tailor products to customers' needs, and our ability to manufacture products on a global scale.” Competitive position, as stated in the filing

Revenue commentary · FY 2025

Sales in 2025 of $10.890 billion decreased 5% compared to sales of $11.484 billion in 2024, though on a comparable currency neutral basis sales increased 2%; the reported decline reflects approximately $757 million of revenue removed due to divestitures including Pharma Solutions and Nitrocellulose.

The rest of IFF is for subscribers

Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.

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