Headquartered in New York, International Flavors & Fragrances Inc. (IFF) is a global leader in creating innovative solutions for the food, beverage, health, biosciences, and fragrance industries. With a market cap of $21.9 billion, IFF develops cutting-edge flavors, fragrances, and ingredients that enhance consumer products worldwide, serving manufacturers, healthcare providers, and researchers in various industries.
Shares of International Flavors & Fragrances have underperformed the broader market over the last year. The stock has gained 6.5% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 22.5%. Also, in 2025, the stock has gained 2.3%, compared to SPX's 4.2% gains on a YTD basis.
Narrowing the focus, IFF outperformed the iShares U.S. Basic Materials ETF(IYM), which gained 4.6% over the past 52 weeks. However, the stock trailed the ETF’s 9.3% return in 2025.
On Feb. 18, IFF reported its Q4 results, with adjusted EPS of $0.97 surpassing consensus estimates of $0.78, a 34.7% year-over-year increase. Revenue rose 3% to $2.77 billion, exceeding Wall Street’s forecast of $2.67 billion. Adjusted operating EBITDA reached $471 million, up 5% on a comparable basis, driven by volume growth and productivity gains.
For the current fiscal year, ending in December, analysts expect IFF’s EPS to grow marginally to $4.35 on a diluted basis. The company's earnings surprise history is mixed. It beat the consensus estimate in three of the last four quarters while missing on another occasion.
Among the 19 analysts covering IFF stock, the consensus rating is a “Moderate Buy.” That’s based on 13 “Strong Buy” ratings, one “Moderate Buy,” four “Holds,” and one “Strong Sell.”
This configuration is slightly more bullish than two months ago, with 12 analysts recommending a “Strong Buy.”
On Feb. 14, Berenberg lowered IFF’s price target to $92 from $99, maintaining a “Hold” rating. The firm noted that accelerating innovation and promotions in 2025 favor Givaudan due to its strong exposure to key growth categories.
The mean price target of $102.50 represents an 18.6% premium to IFF’s current price levels. The Street-high price target of $115 suggests an upside potential of 33%.
