INTERNATIONAL FLAVORS & FRAGRANCES INC FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$10.9B
Gross margin	36.2%
Operating income	−$382.0M
Net income	— not reported
Diluted EPS	−$1.41
Cash & equivalents	$590.0M
Total assets	$25.5B
Long-term debt	$5.6B

Key takeaway

IFF reported a full-year operating and net loss in 2025, primarily due to a $1.153 billion non-cash goodwill impairment charge recorded after restructuring its Nourish segment into Taste and Food Ingredients units.

🔒 4 more takeaways in the full analysis

Beneath the surface

The $1.153 billion goodwill impairment in Food Ingredients was triggered by an internal segment reorganization (splitting Nourish into Taste and Food Ingredients) rather than a decline in underlying business performance, meaning the reported net loss may overstate deteriorating fundamentals.

🔒 4 more insights a headline reader would miss