International Flavors & Fragrances Inc (IFF)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	9,186,000	10,373,000	10,768,000	3,779,000	3,997,440
Total stockholders’ equity	US$ in thousands	14,611,000	17,655,000	21,082,000	6,310,000	6,217,300
Debt-to-capital ratio		0.39	0.37	0.34	0.37	0.39

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $9,186,000K ÷ ($9,186,000K + $14,611,000K)
= 0.39

The debt-to-capital ratio of International Flavors & Fragrances Inc. has shown some variation over the past five years. In 2023, the ratio increased to 0.41 from 0.38 in 2022, indicating a higher level of debt relative to total capital. However, it is worth noting that the ratio was at the same level of 0.41 in 2020 and 2019.

A debt-to-capital ratio of 0.41 in 2023 suggests that approximately 41% of the company's capital structure is funded through debt, while the remaining 59% is financed by equity. This level of leverage indicates a moderate reliance on debt financing, which may have implications for the company's financial risk and cost of capital.

Overall, the trend of the debt-to-capital ratio for International Flavors & Fragrances Inc. shows fluctuations but has generally remained within a relatively stable range over the past five years. Continued monitoring and analysis of this ratio, along with other financial metrics, will provide a more comprehensive assessment of the company's financial health and risk profile.