Celanese
CE · Specialty Chemicals
$47.71
1.0%International Flavors & Fragrances
IFF · Specialty Chemicals
$94.15
0.3%The short version
- International Flavors & Fragrances is the larger business, with $10.9B of revenue in fiscal 2025 against $9.5B for Celanese.
- International Flavors & Fragrances grew revenue faster (−5.2%, against −7.1%).
- International Flavors & Fragrances kept more of each dollar of sales as operating profit (−3.5% operating margin, against −8.2% operating margin).
- Celanese turned more of its sales into free cash flow (8.4% FCF margin, against 2.4% FCF margin).
- International Flavors & Fragrances earned a higher return on the capital invested in it (−1.4%, against −3.7%).
| Latest fiscal year | CE · FY25 | IFF · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.3B | $24.2B |
| Revenue | $9.5B | $10.9B |
| Free cash flow | $803M | $256M |
| Net income | −$1.2B | −$359M |
| Growth | ||
| Revenue growth | −7.1% | −5.2% |
| 5-year growth | 11.0% | 16.5% |
| Share count change | 0.2% | 0.0% |
| Profitability | ||
| Gross margin | 20.5% | 36.2% |
| Operating margin | −8.2% | −3.5% |
| Net margin | −12.2% | −3.3% |
| FCF margin | 8.4% | 2.4% |
| Return on capital | −3.7% | −1.4% |
| Return on equity | −25.4% | −2.6% |
| Balance sheet | ||
| Net debt | $11.5B | $5.4B |
| Net debt / EBITDA | — | 9.4x |
| Dividends and buybacks | $13.0M | $447M |
| Valuation & quality | ||
| P/E | — | 82.6x |
| Piotroski F-score | 5 | 6 |
FY16
CE $5.4B
IFF $3.1B
FY17
CE $6.1B
IFF $3.4B
FY18
CE $7.2B
IFF $4.0B
FY19
CE $6.3B
IFF $5.1B
FY20
CE $5.7B
IFF $5.1B
FY21
CE $8.5B
IFF $11.7B
FY22
CE $9.7B
IFF $12.4B
FY23
CE $10.9B
IFF $11.5B
FY24
CE $10.3B
IFF $11.5B
FY25
CE $9.5B
IFF $10.9B
CE
IFF
FY16
CE 17.3%
IFF 17.7%
FY17
CE 14.0%
IFF 16.3%
FY18
CE 18.6%
IFF 14.7%
FY19
CE 13.2%
IFF 12.9%
FY20
CE 11.7%
IFF 11.1%
FY21
CE 22.8%
IFF 5.0%
FY22
CE 14.3%
IFF −10.7%
FY23
CE 15.2%
IFF −18.4%
FY24
CE −7.0%
IFF 6.7%
FY25
CE −8.2%
IFF −3.5%
CE
IFF
FY16
CE $647M
IFF $424M
FY17
CE $536M
IFF $262M
FY18
CE $1.2B
IFF $267M
FY19
CE $1.1B
IFF $463M
FY20
CE $979M
IFF $522M
FY21
CE $1.3B
IFF $1.0B
FY22
CE $1.3B
IFF −$107M
FY23
CE $1.3B
IFF $952M
FY24
CE $531M
IFF $607M
FY25
CE $803M
IFF $256M
CE
IFF
FY16
CE 16.8%
IFF 16.7%
FY17
CE 11.9%
IFF 10.9%
FY18
CE 17.0%
IFF 6.9%
FY19
CE 11.6%
IFF 5.5%
FY20
CE 9.5%
IFF 4.7%
FY21
CE 23.2%
IFF 2.2%
FY22
CE 10.1%
IFF −3.5%
FY23
CE 8.6%
IFF −6.4%
FY24
CE −3.1%
IFF 2.9%
FY25
CE −3.7%
IFF −1.4%
CE
IFF
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