International Flavors & Fragrances vs Westlake
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KIRA’s take AI analyst
I put International Flavors & Fragrances and Westlake side by side, using each one’s latest annual report. Here is what stands out:
- Westlake is the larger business, with $11.2B of revenue in fiscal 2025 against $10.9B for International Flavors & Fragrances.
- International Flavors & Fragrances grew revenue faster (−5.2%, against −8.0%).
- International Flavors & Fragrances kept more of each dollar of sales as operating profit (−3.5% operating margin, against −14.1%).
- International Flavors & Fragrances turned more of its sales into free cash flow (2.4% FCF margin, against −4.7%).
- International Flavors & Fragrances earned a higher return on the capital invested in it (−1.4%, against −10.0%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
International Flavors & Fragrances
IFF
9/10
Revenue growth5-year growthGross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-score
Westlake
WLK
1/10
Share count change
Side by side
Best in the row
| Latest fiscal year | IFF FY25 | WLK FY25 |
|---|---|---|
| Size | ||
| Market cap | $24.2B | $8.3B |
| Revenue | $10.9B | $11.2B |
| Free cash flow | $256M | −$530M |
| Net income | −$359M | −$1.5B |
| Growth | ||
| Revenue growth | −5.2% | −8.0% |
| 5-year growth | 16.5% | 8.3% |
| Share count change | 0.0% | −0.7% |
| Profitability | ||
| Gross margin | 36.2% | 7.3% |
| Operating margin | −3.5% | −14.1% |
| Net margin | −3.3% | −13.5% |
| FCF margin | 2.4% | −4.7% |
| Return on capital | −1.4% | −10.0% |
| Return on equity | −2.6% | −15.6% |
| Balance sheet | ||
| Net debt | $5.4B | $2.9B |
| Net debt / EBITDA | 9.4x | — |
| Dividends and buybacks | $447M | $335M |
| Valuation & quality | ||
| P/E | 82.6x | — |
| Piotroski F-score | 6 | 3 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.