International Flavors & Fragrances Inc (IFF)

Solvency ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Debt-to-assets ratio	0.30	0.27	0.27	0.26	0.29	0.30	0.26	0.27	0.27	0.27	0.28	0.28	0.28	0.30	0.32	0.31	0.30	0.31	0.33	0.33
Debt-to-capital ratio	0.39	0.35	0.34	0.34	0.37	0.38	0.34	0.34	0.34	0.34	0.34	0.34	0.37	0.39	0.41	0.40	0.39	0.40	0.42	0.42
Debt-to-equity ratio	0.63	0.54	0.52	0.52	0.59	0.61	0.51	0.51	0.51	0.50	0.52	0.52	0.60	0.64	0.70	0.68	0.64	0.66	0.71	0.72
Financial leverage ratio	2.12	1.97	1.96	2.00	2.01	2.05	1.94	1.90	1.88	1.88	1.88	1.89	2.15	2.15	2.17	2.18	2.14	2.14	2.15	2.15

Solvency ratios provide insights into a company's ability to meet its long-term debt obligations. Looking at the solvency ratios of International Flavors & Fragrances Inc. over the past eight quarters, we observe some key trends.

The debt-to-assets ratio has been relatively stable, fluctuating between 0.31 and 0.33. This indicates that around 31% to 33% of the company's total assets have been financed by debt consistently over the quarters.

The debt-to-capital ratio has also remained relatively steady, with fluctuations between 0.36 and 0.41. This suggests that approximately 36% to 41% of the company's capital structure has been funded by debt, whereas the remaining percentage represents equity financing.

The debt-to-equity ratio has shown a slight upward trend, increasing from 0.56 in Q1 2022 to 0.69 in Q4 2023. This indicates that the company has been relying more on debt financing compared to equity financing, with the proportion of debt to equity moving from 56% to 69% over the period.

The financial leverage ratio has also exhibited a mild upwards trajectory, rising from 1.90 in Q1 2022 to 2.12 in Q4 2023. This suggests that the company has been assuming more debt relative to its equity, with a ratio above 2 indicating that the company has leveraged more debt in its capital structure compared to equity.

Overall, the solvency ratios of International Flavors & Fragrances Inc. indicate a stable financial position with consistent debt levels relative to assets and capital, although there has been a slight increase in the reliance on debt as a source of financing compared to equity over the quarters. It is important for investors and stakeholders to continue monitoring these ratios to assess the company's long-term financial health and ability to meet its debt obligations.

Coverage ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Interest coverage	-5.47	1.27	-3.77	-4.05	-3.84	-4.00	3.56	3.27	2.15	2.20	1.75	2.32	4.21	4.26	4.68	5.14	4.87	4.67	4.53	3.76

The interest coverage ratio of International Flavors & Fragrances Inc. has been fluctuating over the past eight quarters. The company's ability to cover its interest expenses has shown a declining trend from Q4 2022 to Q3 2023. The ratio decreased from 3.13 in Q4 2022 to 1.35 in Q3 2023, indicating a decrease in the company's ability to cover its interest expenses with its earnings.

However, there was a slight improvement in Q4 2023 with the interest coverage ratio increasing to 1.54. Despite this improvement, the ratio remains below the levels seen in previous quarters, suggesting that International Flavors & Fragrances Inc. may be facing challenges in generating sufficient earnings to cover its interest obligations.

Overall, the trend in the interest coverage ratio for International Flavors & Fragrances Inc. highlights the importance of closely monitoring the company's financial performance and its ability to service its debt obligations.