Analyst Coverage & Consensus

Firm Analyst
Argus Research Company
John Staszak
Baird
Ghansham Panjabi
Bank of America
Matt Deyoe
Barclays Capital
Lauren R. Lieberman
Berenberg
James Targett
Bernstein
Gunther Zechmann
Citi
PJ Juvekar
Consumer Edge Research
Jonathan Feeney
Deutsche Bank
David Begleiter
Exane BNP Paribas
Heidi Vesterinen
Goldman Sachs
Adam Samuelson
Jefferies
Ryan Tomkins
JP Morgan
Jeffrey J. Zekauskas
Mizuho
Chris Parkinson
Morgan Stanley
Lisa De Neve
Morningstar
Seth Goldstein
Redburn
Ranulf Orr
Societe Generale
Thomas Swoboda
Stephens
Mark Connelly
Stifel Nicolaus
Mark Astrachan
UBS
John Roberts
Wells Fargo
Michael Sison

International Flavors & Fragrances Inc. is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding International Flavors & Fragrances Inc.'s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of International Flavors & Fragrances Inc. or its management. International Flavors & Fragrances Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

Reference Information - Earnings Per Share

Last Actual (FY0): 5.70
FY0 End Date: 12/1/20
Ind. Annual Div: 3.16
Hist (5 Yr) Growth %: -9.27
Yield (%): 2.19

Analyst Forecasts - Earnings Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 6.98 8.00 5.69 7.01 11 4 6 -0.39
Annual Dec 22 6.22 7.08 5.38 6.25 17 3 11 -3.08
Annual Dec 21 5.63 5.85 5.50 5.60 16 5 11 -1.20
Quarterly Mar 22 1.55 1.61 1.47 1.56 7 4 2 -0.61
Quarterly Jun 22 1.60 1.68 1.40 1.63 7 1 4 -4.33
Quarterly Sep 22 1.69 1.91 1.48 1.64 7 3 2 2.14
Quarterly Dec 21 1.09 1.30 0.96 1.07 11 -- 11 -11.71
Long Term Growth 4.14 5.08 3.20 4.14 2 -- -- 0.00

Actuals - Earnings Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 20 5.70 5.60 1.84
Annual Dec 19 6.17 6.17 -0.06
Annual Dec 18 6.44 6.36 1.28
Quarterly Sep 21 1.47 1.38 6.80
Quarterly Jun 21 1.50 1.49 0.39
Quarterly Mar 21 1.60 1.53 4.51
Quarterly Dec 20 1.32 1.19 10.63

Reference Information - Book Value Per Share

Last Actual (FY0): 59.02
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Book Value Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 88.11 91.07 82.90 90.08 5 -- 3 -0.95
Annual Dec 22 86.24 89.12 83.30 86.92 5 -- 3 -0.91
Annual Dec 21 88.96 90.00 88.20 88.44 5 -- 3 -0.82
Quarterly Mar 22 84.77 84.77 84.77 84.77 1 -- 1 -2.45
Quarterly Jun 22 85.48 85.48 85.48 85.48 1 -- 1 -2.52
Quarterly Sep 22 86.31 86.31 86.31 86.31 1 -- 1 -2.49
Quarterly Dec 21 84.18 84.18 84.18 84.18 1 -- 1 -2.33

Actuals - Book Value Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 20 59.02 54.50 8.30
Annual Dec 19 58.34 54.71 6.65
Annual Dec 18 56.68 71.75 -21.00
Quarterly Sep 21 84.17 85.92 -2.03
Quarterly Jun 21 87.38 85.48 2.22
Quarterly Mar 21 86.96 113.48 -23.37
Quarterly Dec 20 59.02 54.07 9.15

Reference Information - Cash Flow Per Share

Last Actual (FY0): 6.28
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Cash Flow Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 9.08 9.81 8.10 9.20 4 -- 3 -0.95
Annual Dec 22 8.02 8.53 7.62 7.93 5 -- 4 -3.07
Annual Dec 21 6.50 7.52 5.24 6.67 5 -- 4 -9.24
Quarterly Mar 22 2.01 2.01 2.01 2.01 1 -- 1 -6.51
Quarterly Jun 22 2.13 2.13 2.13 2.13 1 -- 1 -4.91
Quarterly Sep 22 2.33 2.33 2.33 2.33 1 -- 1 -0.85
Quarterly Dec 21 1.27 1.51 1.03 1.27 2 -- 2 -25.73

Actuals - Cash Flow Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 20 6.28 6.06 3.66
Annual Dec 19 6.17 6.68 -7.58
Annual Dec 18 4.96 1.30 281.54
Quarterly Sep 21 1.68 2.18 -22.76
Quarterly Jun 21 1.33 1.60 -16.88
Quarterly Mar 21 1.74 2.82 -38.30
Quarterly Dec 20 2.63 2.08 26.75

Reference Information - Dividend Per Share

Last Actual (FY0): 3.06
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Dividend Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 3.42 3.73 3.08 3.43 10 1 1 0.01
Annual Dec 22 3.13 3.39 2.76 3.18 12 1 2 -0.24
Annual Dec 21 2.93 3.13 2.38 3.08 12 1 4 -0.16
Quarterly Mar 22 0.81 0.85 0.77 0.81 2 -- -- --
Quarterly Jun 22 0.81 0.85 0.77 0.81 2 -- -- --
Quarterly Sep 22 0.85 0.85 0.85 0.85 2 -- -- --
Quarterly Dec 21 0.61 0.79 0.26 0.77 3 -- -- --

Actuals - Dividend Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 20 3.06 2.98 2.81
Annual Dec 19 2.96 2.92 1.43
Annual Dec 18 2.84 2.77 2.40
Quarterly Sep 21 0.77 0.69 11.59
Quarterly Jun 21 0.77 0.77 --
Quarterly Mar 21 0.77 0.75 2.21
Quarterly Dec 20 0.77 0.73 5.48

Reference Information - EBIT

Last Actual (FY0): 922.29
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - EBIT

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 2,401.39 2,724.18 1,565.30 2,533.00 7 1 6 -10.15
Annual Dec 22 2,174.10 2,420.40 1,419.70 2,282.93 8 1 7 -11.21
Annual Dec 21 1,868.98 2,030.00 1,229.40 1,986.09 6 -- 6 -7.90
Quarterly Mar 22 585.76 598.90 572.62 585.76 2 1 1 0.18
Quarterly Jun 22 595.00 605.10 584.90 595.00 2 1 1 -2.09
Quarterly Sep 22 647.64 667.57 627.70 647.64 2 2 -- 2.31
Quarterly Dec 21 436.76 503.50 399.00 429.95 6 1 5 -7.38

Actuals - EBIT

Reported Mean Estimate Surprise % Change
Annual Dec 20 922.29 1,019.23 -9.51
Annual Dec 19 986.18 997.40 -1.13
Annual Dec 18 753.25 752.62 0.08
Quarterly Sep 21 546.00 524.36 4.13
Quarterly Jun 21 557.00 572.49 -2.70
Quarterly Mar 21 479.00 462.06 3.67
Quarterly Dec 20 203.54 202.10 0.71

Reference Information - EBITDA

Last Actual (FY0): 1,052.99
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - EBITDA

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 3,018.80 3,403.93 2,559.00 2,987.70 9 -- 9 -4.53
Annual Dec 22 2,778.48 3,048.57 2,481.00 2,779.50 14 -- 13 -4.14
Annual Dec 21 2,436.62 2,495.00 2,407.00 2,431.45 14 1 13 -1.96
Quarterly Mar 22 695.99 724.00 675.00 692.48 4 3 1 1.43
Quarterly Jun 22 722.02 729.00 709.70 724.70 4 1 2 -2.42
Quarterly Sep 22 742.30 791.01 709.00 734.60 4 2 2 -0.78
Quarterly Dec 21 547.04 599.00 524.40 537.00 9 1 8 -7.57

Actuals - EBITDA

Reported Mean Estimate Surprise % Change
Annual Dec 20 1,052.99 1,046.20 0.65
Annual Dec 19 1,116.41 1,105.03 1.03
Annual Dec 18 851.16 860.20 -1.05
Quarterly Sep 21 648.00 648.17 -0.03
Quarterly Jun 21 679.00 690.72 -1.70
Quarterly Mar 21 569.00 557.27 2.10
Quarterly Dec 20 235.59 238.07 -1.04

Reference Information - GAAP Earnings Per Share

Last Actual (FY0): 3.21
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - GAAP Earnings Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 4.36 4.44 4.31 4.32 3 2 1 0.46
Annual Dec 22 3.63 4.30 3.27 3.45 6 2 3 -0.87
Annual Dec 21 1.10 1.32 0.91 1.10 6 4 2 -3.10
Quarterly Mar 22 0.74 0.74 0.74 0.74 1 -- 1 -12.94
Quarterly Jun 22 0.86 0.86 0.86 0.86 1 -- 1 -8.51
Quarterly Sep 22 1.06 1.06 1.06 1.06 1 1 -- 0.95
Quarterly Dec 21 0.40 0.53 0.26 0.41 3 -- 3 -25.00

Actuals - GAAP Earnings Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 20 3.21 3.87 -17.00
Annual Dec 19 4.00 4.41 -9.21
Annual Dec 18 3.79 5.02 -24.45
Quarterly Sep 21 0.76 0.68 11.44
Quarterly Jun 21 0.11 0.82 -86.59
Quarterly Mar 21 -0.21 1.05 -120.10
Quarterly Dec 20 0.57 0.78 -26.77

Reference Information - Net Debt

Last Actual (FY0): 4,415.56
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Net Debt

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 9,099.29 9,924.00 7,617.00 9,085.68 9 4 2 -0.24
Annual Dec 22 9,934.16 10,689.96 8,716.00 10,112.00 9 4 2 -0.76
Annual Dec 21 11,070.04 11,441.00 10,701.00 11,036.80 9 2 4 -0.53
Quarterly Mar 22 10,996.80 10,996.80 10,996.80 10,996.80 1 1 -- 0.20
Quarterly Jun 22 10,841.78 10,841.78 10,841.78 10,841.78 1 1 -- 0.69
Quarterly Sep 22 10,701.82 10,701.82 10,701.82 10,701.82 1 1 -- 1.53
Quarterly Dec 21 10,915.56 10,947.00 10,884.12 10,915.56 2 -- 1 -0.84

Actuals - Net Debt

Reported Mean Estimate Surprise % Change
Annual Dec 20 4,415.56 3,797.16 16.29
Annual Dec 19 3,780.03 3,774.09 0.16
Annual Dec 18 3,918.16 3,984.69 -1.67
Quarterly Sep 21 10,854.00 11,183.61 -2.95
Quarterly Jun 21 11,035.00 10,803.89 2.14
Quarterly Mar 21 11,086.00 10,967.34 1.08
Quarterly Dec 20 3,756.68 3,817.83 -1.60

Reference Information - Net Income

Last Actual (FY0): 649.14
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Net Income

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 1,705.78 1,946.40 1,451.00 1,695.20 6 2 4 -1.53
Annual Dec 22 1,532.66 1,688.94 1,371.00 1,543.40 8 1 7 -3.47
Annual Dec 21 1,364.98 1,442.00 1,337.00 1,354.14 8 1 7 -1.15
Quarterly Mar 22 404.07 412.40 392.21 407.60 3 2 1 3.10
Quarterly Jun 22 409.97 421.91 402.00 406.00 3 1 2 -3.98
Quarterly Sep 22 442.41 473.04 417.90 436.30 3 3 -- 2.37
Quarterly Dec 21 266.16 285.03 246.00 265.97 5 -- 5 -15.12

Actuals - Net Income

Reported Mean Estimate Surprise % Change
Annual Dec 20 649.14 642.26 1.07
Annual Dec 19 699.65 698.91 0.11
Annual Dec 18 568.61 528.02 7.69
Quarterly Sep 21 377.00 355.26 6.12
Quarterly Jun 21 383.00 376.14 1.83
Quarterly Mar 21 332.00 316.62 4.86
Quarterly Dec 20 149.86 133.08 12.60

Reference Information - Operating Profit

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Operating Profit

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 1,875.00 1,875.00 1,875.00 1,875.00 1 -- -- --

Actuals - Operating Profit

Reported Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

Reference Information - Return On Equity

Last Actual (FY0): 10.34
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Return On Equity

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 7.51 11.00 5.50 7.20 6 -- -- -0.22
Annual Dec 22 6.33 10.80 4.10 6.50 7 -- -- -0.18
Annual Dec 21 7.05 9.96 1.70 6.30 7 -- -- -0.04
Quarterly Mar 22 7.24 7.24 7.24 7.24 1 -- -- -5.48
Quarterly Jun 22 7.73 7.73 7.73 7.73 1 -- -- -3.38
Quarterly Sep 22 8.69 8.69 8.69 8.69 1 -- -- 2.84
Quarterly Dec 21 7.65 7.65 7.65 7.65 1 -- -- -12.47

Actuals - Return On Equity

Reported Mean Estimate Surprise % Change
Annual Dec 20 10.34 9.02 1.32
Annual Dec 19 11.39 9.75 1.64
Annual Dec 18 14.71 13.33 1.38
Quarterly Sep 21 6.98 9.98 -3.00
Quarterly Jun 21 7.06 10.98 -3.92
Quarterly Mar 21 9.50 8.91 0.59
Quarterly Dec 20 9.68 8.63 1.05

Reference Information - Sales

Last Actual (FY0): 5,084.24
FY0 End Date: 12/1/20
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Sales

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 12,965.07 13,590.48 12,436.50 12,837.70 11 8 2 0.70
Annual Dec 22 12,519.79 12,782.85 12,208.60 12,541.76 14 11 3 0.88
Annual Dec 21 11,577.89 11,651.00 11,545.40 11,569.05 14 12 2 0.37
Quarterly Mar 22 3,117.48 3,160.00 3,013.00 3,129.82 6 4 -- 3.35
Quarterly Jun 22 3,181.95 3,259.00 3,108.80 3,178.85 6 3 2 0.03
Quarterly Sep 22 3,165.27 3,241.00 3,029.70 3,206.64 6 4 -- 1.48
Quarterly Dec 21 2,944.68 2,975.00 2,924.91 2,942.00 11 4 6 -0.22

Actuals - Sales

Reported Mean Estimate Surprise % Change
Annual Dec 20 5,084.24 5,077.81 0.13
Annual Dec 19 5,140.08 5,128.68 0.22
Annual Dec 18 3,977.54 3,975.49 0.05
Quarterly Sep 21 3,071.00 3,017.32 1.78
Quarterly Jun 21 3,089.00 2,975.30 3.82
Quarterly Mar 21 2,465.00 2,447.46 0.72
Quarterly Dec 20 1,270.07 1,262.41 0.61

Reference Information - Earnings Per Share (Parent)

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Earnings Per Share (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 -- -- -- -- -- -- -- --
Annual Dec 22 -- -- -- -- -- -- -- --
Annual Dec 21 -- -- -- -- -- -- -- --
Quarterly Sep 22 -- -- -- -- -- -- -- --
Quarterly Jun 22 -- -- -- -- -- -- -- --
Quarterly Mar 22 -- -- -- -- -- -- -- --
Quarterly Dec 21 -- -- -- -- -- -- -- --

Actuals - Earnings Per Share (Parent)

Reported Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

Reference Information - Net Income (Parent)

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Net Income (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 -- -- -- -- -- -- -- --
Annual Dec 22 -- -- -- -- -- -- -- --
Annual Dec 21 -- -- -- -- -- -- -- --
Quarterly Sep 22 -- -- -- -- -- -- -- --
Quarterly Jun 22 -- -- -- -- -- -- -- --
Quarterly Mar 22 -- -- -- -- -- -- -- --
Quarterly Dec 21 -- -- -- -- -- -- -- --

Actuals - Net Income (Parent)

Reported Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

Reference Information - Operating Profit (Parent)

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Operating Profit (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 23 -- -- -- -- -- -- -- --
Annual Dec 22 -- -- -- -- -- -- -- --
Annual Dec 21 -- -- -- -- -- -- -- --
Quarterly Sep 22 -- -- -- -- -- -- -- --
Quarterly Jun 22 -- -- -- -- -- -- -- --
Quarterly Mar 22 -- -- -- -- -- -- -- --
Quarterly Dec 21 -- -- -- -- -- -- -- --

Actuals - Operating Profit (Parent)

Reported Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

Reference Information - Sales (Parent)

Last Actual (FY0): --
FY0 End Date:
Ind. Annual Div: --
Hist (5 Yr) Growth %: --
Yield (%): --

Analyst Forecasts - Sales (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change

Actuals - Sales (Parent)

Reported Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

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