greeksoup/ stock research
Stock research / United States / IFF / Q4 FY2021

International Flavors & Fragrances (IFF) Q4 FY2021 earnings: revenue $3.0 billion, up 138.6% on the year

International Flavors & Fragrances Inc. (IFF) reported revenue of $3.0 billion for Q4 FY2021, the quarter ended 31 December 2021, up 138.6% on the same quarter a year earlier. Net income was $90 million, up 34.3% on the year, and diluted earnings per share $0.35. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2022.

Revenue
$3.0 billion
+138.6% on the year · -1.3% on the quarter
Q1 FY2020Q4 FY2021
Operating margin
5.7%
7.8% a year earlier
Q1 FY2020Q4 FY2021
Net income
$90 million
+34.3% on the year · -53.6% on the quarter
Q1 FY2020Q4 FY2021
Diluted EPS
$0.35
-38.6% on the year · -53.9% on the quarter
Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Revenue3,0313,0711,270-1.3%+138.6%
Cost of revenue2,050n/an/a
Gross profit981n/an/a
Gross margin32.4%n/an/a
Research and development166n/an/a
Selling, general and administrative450n/an/a
Operating income17329899.5-41.9%+73.9%
Operating margin5.7%9.7%7.8%
Interest expense73.0n/an/a
Pre-tax income114n/an/a
Income tax22.0n/an/a
Effective tax rate19.3%n/an/a
Net income90.019467.0-53.6%+34.3%
Net margin3.0%n/an/a
Diluted EPS$0.35$0.76$0.57-53.9%-38.6%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Operating cash flow311n/an/a
Capital expenditure151n/an/a
Free cash flow160n/an/a
Free cash flow margin5.3%n/an/a
Cash from investing-93.0n/an/a
Cash from financing-282n/an/a
Depreciation and amortisation29529781.8-0.7%+260.7%
Share-based compensation10.0n/an/a
Dividends paid201n/an/a
Diluted shares, weighted255m255m114m0.0%+124.4%
Shares outstanding at period end255m255m107m+0.0%+138.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Shareholders' equity21,08221,4266,311-1.6%+234.0%
Non-controlling interest35.0n/an/a
Redeemable equity105n/an/a
Debt11,40011,5264,444-1.1%+156.5%
Operating lease liabilities670n/an/a
Finance lease liabilities15.0n/an/a
Other liabilities6,351n/an/a
Total liabilities and equity39,658n/an/a
Fixed assets4,368n/an/a
Goodwill16,414n/an/a
Intangible assets10,506n/an/a
Cash and equivalents711672650+5.8%+9.5%
Receivables1,906n/an/a
Inventory2,516n/an/a
Other assets3,237n/an/a
Total assets39,658n/an/a

Questions

What was International Flavors & Fragrances' revenue in Q4 FY2021?

International Flavors & Fragrances (IFF) reported revenue of $3.0 billion for Q4 FY2021, the quarter ended 31 December 2021, up 138.6% on the same quarter a year earlier.

How much did International Flavors & Fragrances earn in Q4 FY2021?

Net income for Q4 FY2021 was $90 million, up 34.3% on the year, and diluted earnings per share $0.35.

When did International Flavors & Fragrances report Q4 FY2021 results?

International Flavors & Fragrances filed its 10-K for the year that ended with the quarter on 28 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024 †Q4 FY2024Q1 FY2025Q2 FY2025 †Q3 FY2025 †Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue3,0313,2263,3073,0632,8443,0272,9292,8202,7032,8992,8892,9252,7712,8432,7642,6942,5892,7411,9541,942
Cost of revenue2,0502,0812,1712,0621,9752,0631,9961,8961,8431,8751,8211,8731,7911,8081,7341,7111,6991,7231,1011,117
Gross profit9811,1451,1361,0018699649339248601,0241,0681,0529801,0351,0309838901,018853825
Gross margin32%35%34%33%31%32%32%33%32%35%37%36%35%36%37%36%34%37%44%42%
R&D166157158145143161161157157166173162170164182174174166170170
SG&A450459456413440454445444444490493495517461483421469427437387
Operating income173341213-1,985105131145150-2,536199191249127-90319822697.0273158160
Operating margin6%11%6%-65%4%4%5%5%-94%7%7%9%5%-32%7%8%4%10%8%8%
Interest expense73.072.077.083.010411111611043.083.079.074.069.071.061.048.049.044.046.046.0
Pre-tax income114285130-2,035-5.014.050.059.0-2,64111518395.0-115-99443813014.020964.0-134
Tax rate19%14%16%n/an/a157%46%54%n/a47%6%38%n/an/a-26%24%36%19%48%n/a
Net income90.0244107-2,197-25.0-9.027.025.0-2,61060.017058.0-46.0-1,01859940.018.016950.0-55.0
Net margin3%8%3%-72%-1%-0%1%1%-97%2%6%2%-2%-36%22%1%1%6%3%-3%
Diluted EPS$0.35$0.96$0.43-$8.60-$0.10-$0.04$0.11$0.10-$10.21$0.23$0.66$0.23-$0.17-$3.98$2.33$0.16$0.07$0.66$0.20-$0.22
Operating cash flow311-4.0-96.028920812724842064499.0237366368127241164318257422141
Capital expenditure15113210410816017511510011311882.010316017995.0132188165136148
Free cash flow160-136-20018148.0-48.0133320531-19.0155263208-52.014632.013092.0286-7.0
Buybacksn/an/an/an/an/an/an/an/an/an/an/an/an/a0.00.00.038.035.036.0513
Dividends paid201201201202206206207206207207102102103102102102103102102102
Shares outstanding255m255m255m255m255m255m255m255m255m255m256m256m256m256m256m256m256m255m255m250m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 28 February 2022: the filing.