International Flavors & Fragrances (IFF) FY2021 results: revenue $11.7 billion, up 129.3% on the year
International Flavors & Fragrances Inc. (IFF) reported revenue of $11.7 billion for fiscal 2021, the year ended 31 December 2021, up 129.3% on the year before. Net income was $270 million, down 25.7%, and diluted earnings per share $1.10. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2022.
Revenue
$11.7 billion
+129.3% on the year
FY2014FY2021
Operating margin
5.0%
11.1% a year earlier
FY2014FY2021
Net income
$270 million
-25.7% on the year
FY2014FY2021
Diluted EPS
$1.10
-65.7% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,437
714
699
+101.2%
Capital expenditure
393
192
236
+104.9%
Free cash flow
1,044
522
463
+99.9%
Free cash flow margin
9.0%
10.3%
9.0%
Cash from investing
-18.0
-187
-226
Cash from financing
-1,304
-512
-505
Depreciation and amortisation
1,156
325
323
+255.3%
Share-based compensation
54.0
36.0
34.0
+50.0%
Buybacks
n/a
0.0
0.0
Dividends paid
667
323
314
+106.8%
Dividend per share
$3.12
$3.04
$2.96
+2.6%
Diluted shares, weighted
243m
114m
113m
+113.9%
Shares outstanding at period end
255m
107m
107m
+138.1%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
21,082
6,311
6,217
+234.0%
Non-controlling interest
35.0
12.0
12.2
+191.7%
Redeemable equity
105
98.0
99.0
+7.1%
Debt
11,400
4,444
4,417
+156.5%
Operating lease liabilities
670
265
253
+153.1%
Finance lease liabilities
15.0
4.0
2.5
+275.0%
Other liabilities
6,351
2,422
2,286
+162.3%
Total liabilities and equity
39,658
13,556
13,287
+192.6%
Fixed assets
4,368
1,458
1,387
+199.6%
Goodwill
16,414
5,593
5,498
+193.5%
Intangible assets
10,506
2,727
2,852
+285.2%
Cash and equivalents
711
650
607
+9.5%
Receivables
1,906
929
60.8
+105.1%
Inventory
2,516
1,132
1,123
+122.3%
Other assets
3,237
1,066
1,760
+203.6%
Total assets
39,658
13,556
13,287
+192.6%
10-K for the year ended 31 December 2021, filed 28 February 2022: the filing.