International Flavors & Fragrances (IFF) FY2022 results: revenue $12.4 billion, up 6.7% on the year
International Flavors & Fragrances Inc. (IFF) reported revenue of $12.4 billion for fiscal 2022, the year ended 31 December 2022, up 6.7% on the year before. Net income was -$1.9 billion, and diluted earnings per share $-7.32. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2023.
Revenue
$12.4 billion
+6.7% on the year
FY2015FY2022
Operating margin
-10.7%
5.0% a year earlier
FY2015FY2022
Net income
-$1.9 billion
FY2015FY2022
Diluted EPS
-$7.32
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
397
1,437
714
-72.4%
Capital expenditure
504
393
192
+28.2%
Free cash flow
-107
1,044
522
Free cash flow margin
-0.9%
9.0%
10.3%
Cash from investing
745
-18.0
-187
Cash from financing
-1,229
-1,304
-512
Depreciation and amortisation
1,179
1,156
325
+2.0%
Share-based compensation
49.0
54.0
36.0
-9.3%
Buybacks
n/a
n/a
0.0
Dividends paid
810
667
323
+21.4%
Dividend per share
$3.20
$3.12
$3.04
+2.6%
Diluted shares, weighted
255m
243m
114m
+4.9%
Shares outstanding at period end
255m
255m
107m
+0.2%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
17,684
21,082
6,311
-16.1%
Non-controlling interest
30.0
35.0
12.0
-14.3%
Redeemable equity
59.0
105
98.0
-43.8%
Debt
10,970
11,400
4,444
-3.8%
Operating lease liabilities
672
670
265
+0.3%
Finance lease liabilities
12.0
15.0
4.0
-20.0%
Other liabilities
6,095
6,351
2,422
-4.0%
Total liabilities and equity
35,522
39,658
13,556
-10.4%
Fixed assets
4,203
4,368
1,458
-3.8%
Goodwill
13,355
16,414
5,593
-18.6%
Intangible assets
9,082
10,506
2,727
-13.6%
Cash and equivalents
483
711
650
-32.1%
Receivables
1,818
1,906
929
-4.6%
Inventory
3,151
2,516
1,132
+25.2%
Other assets
3,430
3,237
1,066
+6.0%
Total assets
35,522
39,658
13,556
-10.4%
10-K for the year ended 31 December 2022, filed 27 February 2023: the filing.