Intrinsic value of International Flavors&Fragrances - IFF

Previous Close

$131.63

  Intrinsic Value

$87.24

stock screener

  Rating & Target

sell

-34%

Previous close

$131.63

 
Intrinsic value

$87.24

 
Up/down potential

-34%

 
Rating

sell

We calculate the intrinsic value of IFF stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 10.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  9.20
  8.78
  8.40
  8.06
  7.76
  7.48
  7.23
  7.01
  6.81
  6.63
  6.46
  6.32
  6.19
  6.07
  5.96
  5.86
  5.78
  5.70
  5.63
  5.57
  5.51
  5.46
  5.41
  5.37
  5.34
  5.30
  5.27
  5.24
  5.22
  5.20
Revenue, $m
  3,711
  4,037
  4,376
  4,729
  5,096
  5,477
  5,873
  6,285
  6,713
  7,158
  7,621
  8,102
  8,603
  9,125
  9,669
  10,236
  10,828
  11,445
  12,089
  12,762
  13,466
  14,201
  14,970
  15,774
  16,615
  17,496
  18,418
  19,384
  20,396
  21,456
Variable operating expenses, $m
  3,021
  3,273
  3,535
  3,807
  4,090
  4,384
  4,690
  5,008
  5,338
  5,681
  5,881
  6,253
  6,639
  7,042
  7,462
  7,900
  8,356
  8,833
  9,330
  9,849
  10,392
  10,959
  11,553
  12,173
  12,823
  13,503
  14,214
  14,960
  15,741
  16,559
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  3,021
  3,273
  3,535
  3,807
  4,090
  4,384
  4,690
  5,008
  5,338
  5,681
  5,881
  6,253
  6,639
  7,042
  7,462
  7,900
  8,356
  8,833
  9,330
  9,849
  10,392
  10,959
  11,553
  12,173
  12,823
  13,503
  14,214
  14,960
  15,741
  16,559
Operating income, $m
  690
  764
  842
  922
  1,006
  1,093
  1,183
  1,277
  1,375
  1,477
  1,739
  1,849
  1,964
  2,083
  2,207
  2,336
  2,471
  2,612
  2,759
  2,913
  3,074
  3,241
  3,417
  3,600
  3,793
  3,994
  4,204
  4,425
  4,656
  4,898
EBITDA, $m
  935
  1,017
  1,102
  1,191
  1,283
  1,379
  1,479
  1,583
  1,691
  1,803
  1,919
  2,040
  2,167
  2,298
  2,435
  2,578
  2,727
  2,882
  3,045
  3,214
  3,391
  3,576
  3,770
  3,973
  4,184
  4,406
  4,639
  4,882
  5,137
  5,404
Interest expense (income), $m
  51
  89
  103
  118
  134
  150
  167
  185
  203
  222
  242
  263
  284
  306
  330
  354
  379
  405
  433
  461
  491
  522
  555
  589
  625
  662
  701
  742
  784
  829
  876
Earnings before tax, $m
  601
  661
  724
  788
  856
  926
  999
  1,074
  1,153
  1,234
  1,477
  1,565
  1,657
  1,753
  1,853
  1,957
  2,066
  2,180
  2,298
  2,422
  2,551
  2,686
  2,828
  2,976
  3,131
  3,293
  3,462
  3,640
  3,826
  4,021
Tax expense, $m
  162
  179
  195
  213
  231
  250
  270
  290
  311
  333
  399
  423
  447
  473
  500
  528
  558
  588
  620
  654
  689
  725
  764
  803
  845
  889
  935
  983
  1,033
  1,086
Net income, $m
  439
  483
  528
  576
  625
  676
  729
  784
  842
  901
  1,078
  1,143
  1,210
  1,280
  1,353
  1,429
  1,508
  1,591
  1,678
  1,768
  1,862
  1,961
  2,064
  2,172
  2,285
  2,404
  2,528
  2,657
  2,793
  2,936

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  5,022
  5,463
  5,922
  6,400
  6,896
  7,412
  7,948
  8,505
  9,084
  9,686
  10,312
  10,963
  11,642
  12,348
  13,084
  13,851
  14,652
  15,487
  16,359
  17,270
  18,221
  19,216
  20,257
  21,345
  22,484
  23,675
  24,923
  26,231
  27,600
  29,034
Adjusted assets (=assets-cash), $m
  5,022
  5,463
  5,922
  6,400
  6,896
  7,412
  7,948
  8,505
  9,084
  9,686
  10,312
  10,963
  11,642
  12,348
  13,084
  13,851
  14,652
  15,487
  16,359
  17,270
  18,221
  19,216
  20,257
  21,345
  22,484
  23,675
  24,923
  26,231
  27,600
  29,034
Revenue / Adjusted assets
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
  0.739
Average production assets, $m
  1,707
  1,857
  2,013
  2,175
  2,344
  2,520
  2,702
  2,891
  3,088
  3,293
  3,505
  3,727
  3,957
  4,198
  4,448
  4,709
  4,981
  5,265
  5,561
  5,871
  6,194
  6,532
  6,886
  7,256
  7,643
  8,048
  8,472
  8,917
  9,382
  9,870
Working capital, $m
  839
  912
  989
  1,069
  1,152
  1,238
  1,327
  1,420
  1,517
  1,618
  1,722
  1,831
  1,944
  2,062
  2,185
  2,313
  2,447
  2,587
  2,732
  2,884
  3,043
  3,209
  3,383
  3,565
  3,755
  3,954
  4,163
  4,381
  4,610
  4,849
Total debt, $m
  1,908
  2,188
  2,479
  2,782
  3,096
  3,423
  3,763
  4,116
  4,484
  4,865
  5,262
  5,675
  6,105
  6,553
  7,020
  7,506
  8,014
  8,543
  9,096
  9,673
  10,277
  10,908
  11,567
  12,257
  12,979
  13,735
  14,526
  15,355
  16,223
  17,132
Total liabilities, $m
  3,184
  3,464
  3,755
  4,057
  4,372
  4,699
  5,039
  5,392
  5,759
  6,141
  6,538
  6,951
  7,381
  7,829
  8,295
  8,782
  9,289
  9,819
  10,372
  10,949
  11,552
  12,183
  12,843
  13,533
  14,255
  15,010
  15,801
  16,630
  17,498
  18,408
Total equity, $m
  1,838
  2,000
  2,168
  2,342
  2,524
  2,713
  2,909
  3,113
  3,325
  3,545
  3,774
  4,013
  4,261
  4,519
  4,789
  5,070
  5,363
  5,668
  5,987
  6,321
  6,669
  7,033
  7,414
  7,812
  8,229
  8,665
  9,122
  9,600
  10,102
  10,627
Total liabilities and equity, $m
  5,022
  5,464
  5,923
  6,399
  6,896
  7,412
  7,948
  8,505
  9,084
  9,686
  10,312
  10,964
  11,642
  12,348
  13,084
  13,852
  14,652
  15,487
  16,359
  17,270
  18,221
  19,216
  20,257
  21,345
  22,484
  23,675
  24,923
  26,230
  27,600
  29,035
Debt-to-equity ratio
  1.040
  1.090
  1.140
  1.190
  1.230
  1.260
  1.290
  1.320
  1.350
  1.370
  1.390
  1.410
  1.430
  1.450
  1.470
  1.480
  1.490
  1.510
  1.520
  1.530
  1.540
  1.550
  1.560
  1.570
  1.580
  1.590
  1.590
  1.600
  1.610
  1.610
Adjusted equity ratio
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  439
  483
  528
  576
  625
  676
  729
  784
  842
  901
  1,078
  1,143
  1,210
  1,280
  1,353
  1,429
  1,508
  1,591
  1,678
  1,768
  1,862
  1,961
  2,064
  2,172
  2,285
  2,404
  2,528
  2,657
  2,793
  2,936
Depreciation, amort., depletion, $m
  245
  252
  260
  269
  277
  286
  296
  305
  316
  326
  180
  191
  203
  215
  228
  241
  255
  270
  285
  301
  318
  335
  353
  372
  392
  413
  434
  457
  481
  506
Funds from operations, $m
  684
  735
  789
  844
  902
  962
  1,025
  1,090
  1,157
  1,227
  1,258
  1,334
  1,413
  1,495
  1,581
  1,670
  1,764
  1,861
  1,963
  2,069
  2,180
  2,296
  2,417
  2,544
  2,677
  2,816
  2,962
  3,115
  3,274
  3,442
Change in working capital, $m
  71
  74
  77
  80
  83
  86
  90
  93
  97
  101
  105
  109
  113
  118
  123
  128
  134
  139
  146
  152
  159
  166
  174
  182
  190
  199
  208
  218
  229
  240
Cash from operations, $m
  613
  662
  712
  765
  819
  876
  935
  997
  1,060
  1,127
  1,153
  1,225
  1,299
  1,377
  1,458
  1,542
  1,630
  1,722
  1,817
  1,917
  2,021
  2,130
  2,244
  2,363
  2,487
  2,617
  2,754
  2,896
  3,046
  3,202
Maintenance CAPEX, $m
  -80
  -88
  -95
  -103
  -112
  -120
  -129
  -139
  -148
  -158
  -169
  -180
  -191
  -203
  -215
  -228
  -241
  -255
  -270
  -285
  -301
  -318
  -335
  -353
  -372
  -392
  -413
  -434
  -457
  -481
New CAPEX, $m
  -145
  -150
  -156
  -162
  -169
  -175
  -182
  -189
  -197
  -205
  -213
  -221
  -231
  -240
  -250
  -261
  -272
  -284
  -296
  -310
  -324
  -338
  -354
  -370
  -387
  -405
  -424
  -444
  -465
  -488
Cash from investing activities, $m
  -225
  -238
  -251
  -265
  -281
  -295
  -311
  -328
  -345
  -363
  -382
  -401
  -422
  -443
  -465
  -489
  -513
  -539
  -566
  -595
  -625
  -656
  -689
  -723
  -759
  -797
  -837
  -878
  -922
  -969
Free cash flow, $m
  388
  424
  461
  499
  539
  581
  624
  669
  715
  764
  771
  824
  878
  934
  992
  1,053
  1,116
  1,182
  1,251
  1,322
  1,397
  1,474
  1,555
  1,640
  1,728
  1,820
  1,917
  2,018
  2,123
  2,233
Issuance/(repayment) of debt, $m
  269
  280
  291
  303
  315
  327
  340
  353
  367
  382
  397
  413
  430
  448
  467
  486
  507
  530
  553
  577
  603
  631
  660
  690
  722
  756
  791
  829
  868
  910
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  269
  280
  291
  303
  315
  327
  340
  353
  367
  382
  397
  413
  430
  448
  467
  486
  507
  530
  553
  577
  603
  631
  660
  690
  722
  756
  791
  829
  868
  910
Total cash flow (excl. dividends), $m
  658
  704
  752
  802
  854
  908
  964
  1,022
  1,082
  1,145
  1,168
  1,237
  1,308
  1,382
  1,459
  1,540
  1,624
  1,712
  1,804
  1,900
  2,000
  2,105
  2,215
  2,330
  2,450
  2,576
  2,708
  2,846
  2,991
  3,143
Retained Cash Flow (-), $m
  -154
  -161
  -168
  -175
  -182
  -189
  -196
  -204
  -212
  -220
  -229
  -238
  -248
  -259
  -269
  -281
  -293
  -306
  -319
  -333
  -348
  -364
  -381
  -398
  -417
  -436
  -457
  -478
  -501
  -525
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  504
  542
  584
  627
  672
  719
  767
  818
  870
  925
  939
  998
  1,060
  1,123
  1,190
  1,259
  1,331
  1,406
  1,484
  1,566
  1,652
  1,741
  1,834
  1,931
  2,033
  2,140
  2,251
  2,368
  2,490
  2,618
Discount rate, %
  6.00
  6.30
  6.62
  6.95
  7.29
  7.66
  8.04
  8.44
  8.86
  9.31
  9.77
  10.26
  10.78
  11.31
  11.88
  12.47
  13.10
  13.75
  14.44
  15.16
  15.92
  16.72
  17.55
  18.43
  19.35
  20.32
  21.33
  22.40
  23.52
  24.70
PV of cash for distribution, $m
  475
  480
  482
  479
  473
  462
  447
  428
  405
  380
  337
  309
  280
  251
  221
  192
  164
  138
  114
  93
  74
  58
  44
  33
  24
  17
  12
  8
  5
  3
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

International Flavors & Fragrances Inc. creates, manufactures and supplies flavors and fragrances (including cosmetic active ingredients) used to impart or improve flavor or fragrance in a range of consumer products. The Company operates in two segments: Flavors and Fragrances. The Flavors segment offers flavor compounds that are sold to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food and sweet products. The Fragrances segment offers fragrance compounds and fragrance ingredients. Its cosmetic active ingredients consist of active and functional ingredients, botanicals and delivery systems to support its customers' cosmetic and personal care product lines. Its products are sold to manufacturers of perfumes and cosmetics, hair and other personal care products, soaps and detergents, meat and other processed foods, beverages, snacks and savory foods, sweet and baked goods, and pharmaceutical and oral care products, among others.

FINANCIAL RATIOS  of  International Flavors&Fragrances (IFF)

Valuation Ratios
P/E Ratio 25.7
Price to Sales 3.3
Price to Book 6.4
Price to Tangible Book
Price to Cash Flow 19.5
Price to Free Cash Flow 25.5
Growth Rates
Sales Growth Rate 3.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 24.8%
Cap. Spend. - 3 Yr. Gr. Rate -1.2%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 65.6%
Total Debt to Equity 81.5%
Interest Coverage 11
Management Effectiveness
Return On Assets 11.5%
Ret/ On Assets - 3 Yr. Avg. 12.5%
Return On Total Capital 14.4%
Ret/ On T. Cap. - 3 Yr. Avg. 16%
Return On Equity 25.2%
Return On Equity - 3 Yr. Avg. 26.7%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 44.9%
Gross Margin - 3 Yr. Avg. 44.6%
EBITDA Margin 21.7%
EBITDA Margin - 3 Yr. Avg. 22.1%
Operating Margin 18.2%
Oper. Margin - 3 Yr. Avg. 18.9%
Pre-Tax Margin 16.8%
Pre-Tax Margin - 3 Yr. Avg. 17.5%
Net Profit Margin 13%
Net Profit Margin - 3 Yr. Avg. 13.4%
Effective Tax Rate 22.7%
Eff/ Tax Rate - 3 Yr. Avg. 23.1%
Payout Ratio 45.7%

IFF stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the IFF stock intrinsic value calculation we used $3398.719 million for the last fiscal year's total revenue generated by International Flavors&Fragrances. The default revenue input number comes from 0001 income statement of International Flavors&Fragrances. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our IFF stock valuation model: a) initial revenue growth rate of 9.2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6%, whose default value for IFF is calculated based on our internal credit rating of International Flavors&Fragrances, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of International Flavors&Fragrances.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of IFF stock the variable cost ratio is equal to 81.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for IFF stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for International Flavors&Fragrances.

Corporate tax rate of 27% is the nominal tax rate for International Flavors&Fragrances. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the IFF stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for IFF are equal to 46%.

Life of production assets of 19.5 years is the average useful life of capital assets used in International Flavors&Fragrances operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for IFF is equal to 22.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1684.202 million for International Flavors&Fragrances - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 79.047 million for International Flavors&Fragrances is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of International Flavors&Fragrances at the current share price and the inputted number of shares is $10.4 billion.

RELATED COMPANIES Price Int.Val. Rating
SCL Stepan 85.24 60.58  sell
UG United-Guardia 16.61 19.27  hold
SXT Sensient Techn 75.39 87.51  buy
SNMX Senomyx 1.49 0.10  str.sell

COMPANY NEWS

▶ IFF to Release Third Quarter 2018 Results November 5   [Oct-15-18 04:15PM  Business Wire]
▶ IFF Begins Trading on the Tel Aviv Stock Exchange   [Oct-09-18 02:00AM  Business Wire]
▶ Today's Bell Ringer, October 8, 2018   [09:15AM  CNBC Videos]
▶ How McCormick Stock Can Add Some Spice to Your Portfolio   [Sep-17-18 10:57AM  InvestorPlace]
▶ IFF Names Two to Prestigious Master Perfumer Designation   [Sep-11-18 04:15PM  Business Wire]
▶ MS Global Franchise Fund Buys 1, Sells 4 in 2nd Quarter   [Sep-06-18 03:10PM  GuruFocus.com]
▶ International Flavors: 2Q Earnings Snapshot   [04:21PM  Associated Press]
▶ IFF Reports Second Quarter 2018 Results   [04:15PM  Business Wire]
▶ IFF Increases Quarterly Dividend 6% to $0.73 per share   [Aug-01-18 04:15PM  Business Wire]
▶ Trade Wars: Winners & Losers for Investors   [Jul-31-18 10:00AM  TheStreet.com]
▶ IFF to Release Second Quarter 2018 Results August 7   [Jul-24-18 04:15PM  Business Wire]
▶ Insider Buys Of The Week: Kellogg, Itron And More   [May-28-18 09:38AM  Benzinga]
▶ International Flavors & Fragrances Is Still In a Downtrend   [May-23-18 09:26AM  TheStreet.com]
▶ [$$] Flavor Giant IFF Goes Natural in $6.4 Billion Deal   [May-07-18 07:39PM  The Wall Street Journal]
▶ Closing Bell: LIVE MARKETS BLOG   [04:02PM  TheStreet.com]
▶ [$$] Flavors Giant Adds Israeli Spice in $6.4 Billion Deal   [08:35AM  The Wall Street Journal]
▶ International Flavors: 1Q Earnings Snapshot   [05:02AM  Associated Press]
▶ IFF Reports First Quarter 2018 Results   [01:55AM  Business Wire]
▶ IFF Declares Dividend for Second Quarter 2018   [May-02-18 04:15PM  Business Wire]
▶ IFF to Release First Quarter 2018 Results May 7   [Apr-30-18 04:21PM  Business Wire]
▶ [$$] Security Chiefs Reckon With Blockchain, Privacy and AI   [Apr-12-18 05:36PM  The Wall Street Journal]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.