Price · last 3 months · daily close
IFF price
Loading the price chart...
Daily closing prices via yfinance. Quotes are delayed. Past prices are not a guarantee of future results.
ValeriusBeta - Not investment advice
Research · S&P 500 · Materials
IFF · International Flavors & Fragrances
The numbers, the scorecard and what analysts say, with the source for each. Information, not advice.
Value Scorecard · run 2026-10-18
13 value checks: 12 scored 1 to 5 where the data allows, plus moat evidence
22/55
low-moderate value score11 of 12 checks scored11 of the 12 checks that carry a score were scored from the data available. 1 could not be scored (Margin of Safety) and was left out, so the score is out of 55 instead of 60. The label uses the same share of the available points as for a full scorecard. The moat is shown as evidence from the filings, without a score.
Earnings & returns
EPS Trend
1/5Diluted EPS: -$7.21 (2022), -$10.05 (2023), $0.95 (2024), -$1.46 (2025). The latest figure is at or below zero; the framework scores that as 1.
ROE Trend
1/5ROE (net income / common equity): -10.6% (2022), -17.7% (2023), 1.9% (2024), -2.6% (2025). Median -6.6%, lowest -17.7%; the framework scores a median 5% or less as 1.
ROIC
1/5ROIC of -1.8%: operating income of -$382.00M divided by $21.61B of capital (total assets $25.54B minus current liabilities $3.93B), fiscal year to Dec 31, 2025, as filed in the 10-K (SEC EDGAR). The framework scores below 5% as 1.
Profit Margins
2/5Net margin of 2.6%; the framework scores 0-5% as 2; gross margin 36.6%, operating margin 8.5%.
Balance sheet & cash
Debt-to-Equity
4/5Debt-to-equity of 0.45; the framework scores 0.3-0.8 as 4 (total debt $6.28B, total cash $569.00M).
Free Cash Flow
3/5Free cash flow (operating cash flow minus capital expenditure): -$109.00M (2022), $952.00M (2023), $602.00M (2024), $254.00M (2025). It ended above 2022 but did not rise in 2 of 3 years; the framework scores that as 3.
Retained Earnings
1/5Retained earnings, as filed in the 10-Ks (SEC EDGAR): $955.00M (2022), -$2.44B (2023), -$2.65B (2024), -$3.42B (2025). The latest balance is negative (an accumulated deficit); the framework scores that as 1.
Valuation models
Graham IV
1/5IV = EPS x (8.5 + 2g) x (4.4 / Y) = $1.01 x (8.5 + 2 x 5.0) x (4.4 / 4.5) = $18.27 (EPS CAGR unavailable, default 5% applied). Current price $90.68; price is 396.3% above the model value.
DCF Value
1/5Free cash flow per share is -$6.74; a two-stage DCF cannot be computed from negative free cash flow.
Margin of Safety
Not scoredNeeds both a Graham value and a DCF value. Graham value $18.27 (price is 396.3% above the model value); DCF value N/A (not comparable).
Price-to-Book
3/5P/B of 1.66; the framework scores 1.5-3.0 as 3.
Business quality
Moat Evidence
Not scoredA moat (a brand, a network, switching costs, patents, scale, a licence) is not a number in the filings, so Valerius doesn’t score it. Below are the figures and the words moat analysis starts from, from the company’s own 10-K filings. The conclusion is yours.
Return on capital, each year
Above 15% in 1 of 10 years (2016-2025); lowest -7.8%, highest 17.7%.
Gross margin, each year
Between 32.0% and 44.8% over 10 years (a range of 12.8 points).
Competition, in the company’s own words · 10-K filed Feb 27, 2026
The markets for our products are part of a larger market that supplies a wide variety of ingredients and compounds used in consumer products. Our products are sold principally to manufacturers of dairy, meat, beverages, snacks, savory and sweet goods, 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, and oral care products. The global market for our products has expanded, primarily as a result of an increase in demand for, and in the variety of, consumer products. The market for our products is highly competitive. Our main competitors consist of (1) other large global companies, such as Givaudan, Novonesis, DSM-Firmenich, Symrise, Kerry, and ADM, (2) mid-sized companies, (3) numerous regional and local manufacturers and (4) consumer product companies who may develop their own competing products. 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,
The opening of the company’s “Competition” section in its 10-K, quoted word for word, not summarized or edited. It is the company’s own description, not Valerius’s view, and may include the company’s expectations. Open the filing.
Return on capital = operating income / (total assets − current liabilities), the ROIC row’s definition; 15% is the framework’s return threshold. Gross margin = gross profit / revenue. Both from each year’s 10-K via SEC EDGAR. Moat analysis commonly looks at whether returns and margins held up over many years. These figures don’t say whether the company has an advantage, what it is, or whether it will last.
Capital Allocation
4/5Capital allocation, 2022-2025: dividends or buybacks paid in every year (pass); $2.60B paid out against $1.70B of free cash flow (fail: paid out more than free cash flow); total debt $11.73B to $6.62B, down 43.6%, 8.5x EBITDA (pass: not up more than 10%); shares outstanding 0.25B to 0.26B, up 0.3% (pass). 3 of 4 tests passed; the framework scores that as 4.
Filings
Company notices to the SEC
Not scoredThree kinds of event the company reported to the SEC in the last 5 years, from its filings on SEC EDGAR.
Loading...
These are events the company reported to the SEC. An auditor change or a late filing can have many causes; each date links to the filing, where the company explains it. Valerius does not score these.
How the Graham and DCF values were calculated
Graham Formula:
IV = EPS x (8.5 + 2g) x (4.4 / Y)
EPS = $1.01, g = 5.0%, Y = 4.5
IV = $18.27
Current price $90.68 vs Graham value $18.27 — price is 396.3% above the model value.
DCF:
FCF/share -$6.741 — a two-stage DCF cannot be computed from negative free cash flow.Data from yfinance summary figures and financial statements, and from the company’s 10-K filings via SEC EDGAR; computed at a price of $90.68. Every score is calculated from the figures by the framework’s fixed rules, and the explanation beside it is generated from the same figures: Graham value, DCF value, margin of safety, ROIC, profit margins, debt-to-equity, price-to-book, EPS trend, ROE trend, free cash flow, retained earnings and capital allocation. No AI is involved in this scorecard. The moat is shown as evidence, without a score. Read each score with the figures beside it. A check that cannot be scored from the available data is shown as not scored and left out of the composite score. Intrinsic value calculations are model outputs based on stated assumptions, not predictions.
Recent headlines · third-party publishers · not investment advice
In the news
- Loading headlines...
The 8 newest headlines whose title names the company, shown automatically and never chosen by Valerius. From third-party publishers via Yahoo Finance, linked to the source. Valerius doesn't write or endorse them. Not investment advice.