International Flavors & Fragrances vs RPM International
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KIRA’s take AI analyst
I put International Flavors & Fragrances and RPM International side by side, using each one’s latest annual report. Here is what stands out:
- International Flavors & Fragrances is the larger business, with $10.9B of revenue in fiscal 2025 against $7.9B for RPM International.
- RPM International grew revenue faster (6.7%, against −5.2%).
- RPM International turned more of its sales into free cash flow (8.6% FCF margin, against 2.4%).
- RPM International earned a higher return on the capital invested in it (13.9%, against −1.4%).
- Investors pay more for each dollar of International Flavors & Fragrances’s earnings: a P/E of 82.2x against 18.1x for RPM International.
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
International Flavors & Fragrances
IFF
1/10
5-year growth
RPM International
RPM
8/10
Revenue growthGross marginNet marginFCF marginReturn on capitalReturn on equityNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | IFF FY25 | RPM FY26 |
|---|---|---|
| Size | ||
| Market cap | $24.1B | $12.5B |
| Revenue | $10.9B | $7.9B |
| Free cash flow | $256M | $675M |
| Net income | −$359M | $661M |
| Growth | ||
| Revenue growth | −5.2% | 6.7% |
| 5-year growth | 16.5% | 5.2% |
| Share count change | 0.0% | −0.5% |
| Profitability | ||
| Gross margin | 36.2% | 41.4% |
| Operating margin | −3.5% | — |
| Net margin | −3.3% | 8.4% |
| FCF margin | 2.4% | 8.6% |
| Return on capital | −1.4% | 13.9% |
| Return on equity | −2.6% | 21.4% |
| Balance sheet | ||
| Net debt | $5.4B | $2.2B |
| Net debt / EBITDA | 9.4x | 1.9x |
| Dividends and buybacks | $447M | $349M |
| Valuation & quality | ||
| P/E | 82.2x | 18.1x |
| Piotroski F-score | 6 | 6 |
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.

