International Flavors & Fragrances (BSP:I1FF34) Cyclically Adjusted PB Ratio: 1.25 (As of Sep. 13, 2026) — 68% Below Median

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Director of Data and Quant Analytics at GuruFocus
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Founder & CEO of GuruFocus
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BSP:I1FF34 International Flavors & Fragrances Inc BSP:I1FF34
57 GF Score
Price R$201.60
GF Value R$156.02
Valuation Modestly Overvalued
! 10 Warning Signs
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What is International Flavors & Fragrances Cyclically Adjusted PB Ratio?

International Flavors & Fragrances BSP:I1FF34 57 Cyclically Adjusted PB Ratio is 1.25 as of Sep. 13, 2026, which is 68% below its 10-year median of 3.96. GuruFocus rates BSP:I1FF34 with a GF Score™ of 57/100 and a GF Value™ of R$156.02 (Modestly Overvalued). The stock has 10 warning signs investors should review. Among 1,099 Chemicals companies, International Flavors & Fragrances ranks better than 58.87% on this metric.

As of today (2026-09-13), International Flavors & Fragrances's current share price is R$201.60. International Flavors & Fragrances's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was R$161.66. International Flavors & Fragrances's Cyclically Adjusted PB Ratio for today is 1.25.

The historical rank and industry rank for International Flavors & Fragrances's Cyclically Adjusted PB Ratio or its related term are showing as below:

BSP:I1FF34' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.98   Med: 3.96   Max: 9.58
Current: 1.3

During the past years, International Flavors & Fragrances's highest Cyclically Adjusted PB Ratio was 9.58. The lowest was 0.98. And the median was 3.96.

BSP:I1FF34's Cyclically Adjusted PB Ratio is ranked better than
58.87% of 1099 companies
in the Chemicals industry
Industry Median: 1.67 vs BSP:I1FF34: 1.30

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

International Flavors & Fragrances's adjusted book value per share data for the three months ended in Jun. 2026 was R$140.255. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is R$161.66 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


International Flavors & Fragrances  (BSP:I1FF34) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


International Flavors & Fragrances Cyclically Adjusted PB Ratio Related Terms


International Flavors & Fragrances Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for International Flavors & Fragrances's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

International Flavors & Fragrances Cyclically Adjusted PB Ratio Chart

International Flavors & Fragrances Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.92 2.26 1.55 1.49 1.10

International Flavors & Fragrances Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.24 1.01 1.10 1.15 1.23

BSP:I1FF34 vs LYB, PPG, DD: Cyclically Adjusted PB Ratio Comparison

For the Specialty Chemicals subindustry, International Flavors & Fragrances's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


International Flavors & Fragrances Cyclically Adjusted PB Ratio vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, International Flavors & Fragrances's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where International Flavors & Fragrances's Cyclically Adjusted PB Ratio falls into.


BSP:I1FF34
57GF Score
International Flavors & Fragrances Inc BSP:I1FF34
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

International Flavors & Fragrances Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

International Flavors & Fragrances's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=201.60/161.66
=1.25

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

International Flavors & Fragrances's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, International Flavors & Fragrances's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=140.255/333.9520*333.9520
=140.255

Current CPI (Jun. 2026) = 333.9520.

International Flavors & Fragrances Quarterly Data

Book Value per Share CPI Adj_Book
201609 34.665 241.428 47.950
201612 34.429 241.432 47.623
201703 32.208 243.801 44.118
201706 34.933 244.955 47.625
201709 34.851 246.819 47.154
201712 35.146 246.524 47.610
201803 36.836 249.554 49.294
201806 41.740 251.989 55.317
201809 90.307 252.439 119.467
201812 109.870 251.233 146.045
201903 110.619 254.202 145.323
201906 111.932 256.143 145.934
201909 116.819 256.759 151.940
201912 119.485 256.974 155.277
202003 133.299 258.115 172.464
202006 145.266 257.797 188.179
202009 153.471 260.280 196.911
202012 151.784 260.474 194.601
202103 245.027 264.877 308.925
202106 219.685 271.696 270.023
202109 222.179 274.310 270.486
202112 234.149 278.802 280.466
202203 204.414 287.504 237.438
202206 200.566 296.311 226.044
202209 173.659 296.808 195.392
202212 181.606 296.797 204.341
202303 181.313 301.836 200.605
202306 167.574 305.109 183.415
202309 164.237 307.789 178.198
202312 140.216 306.746 152.652
202403 139.367 312.332 149.014
202406 150.149 314.175 159.601
202409 160.021 315.301 169.487
202412 165.051 315.605 174.646
202503 148.346 319.799 154.911
202506 155.836 322.561 161.339
202509 149.002 324.800 153.200
202512 150.997 324.054 155.609
202603 144.675 330.213 146.313
202606 140.255 333.952 140.255

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PB Ratio of 1.25 mean?
International Flavors & Fragrances (BSP:I1FF34) has a Cyclically Adjusted PB Ratio of 1.25 as of Sep. 13, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on International Flavors & Fragrances and its competitors. This is 68% below median its historical median of 3.96. Over the past decade, International Flavors & Fragrances' Cyclically Adjusted PB Ratio has ranged from 0.98 to 9.58. According to the industry distribution chart, International Flavors & Fragrances ranks #452 out of 1099 companies in the Chemicals industry, placing it in the top 41.1%.
Is International Flavors & Fragrances' Cyclically Adjusted PB Ratio too high?
International Flavors & Fragrances' current Cyclically Adjusted PB Ratio of 1.25 is 68% below median its 10-year median of 3.96. Over the past 10 years, this metric has ranged from a low of 0.98 to a high of 9.58. The Chemicals industry median Cyclically Adjusted PB Ratio is 1.67. International Flavors & Fragrances' value of 1.25 is 25.1% below this industry median. Based on the distribution chart, International Flavors & Fragrances ranks #452 out of 1099 companies in the Chemicals industry, which is above the industry midpoint. Overall, International Flavors & Fragrances has a GF Score™ of 57/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does International Flavors & Fragrances' Cyclically Adjusted PB Ratio compare to LYB and PPG?
According to the Chemicals industry distribution chart, International Flavors & Fragrances ranks #452 out of 1099 companies for Cyclically Adjusted PB Ratio. This puts International Flavors & Fragrances in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.67. International Flavors & Fragrances' value of 1.25 is 25.1% below this benchmark. Historically, International Flavors & Fragrances' own Cyclically Adjusted PB Ratio has ranged from 0.98 to 9.58 over the past decade. While the company's 10-year median is 3.96 vs. the industry median of 1.67, International Flavors & Fragrances has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Chemicals company?
The median Cyclically Adjusted PB Ratio among Chemicals companies is 1.67, based on 1,099 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. International Flavors & Fragrances's current Cyclically Adjusted PB Ratio of 1.25 is 25.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on International Flavors & Fragrances and its competitors. For the Chemicals industry, the median Cyclically Adjusted PB Ratio is 1.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. International Flavors & Fragrances's current Cyclically Adjusted PB Ratio is 1.25, which is 68% below median its own 10-year median of 3.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is International Flavors & Fragrances stock overvalued right now?
Based on GuruFocus' analysis, International Flavors & Fragrances (BSP:I1FF34) is currently considered Modestly Overvalued. The stock's GF Value™ is R$156.02, compared to a current price of R$201.60 — trading 29.2% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.25, which is 68% below median its 10-year median of 3.96 and 25.1% below the Chemicals industry median of 1.67. International Flavors & Fragrances' overall GF Score™ is 57/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For International Flavors & Fragrances (BSP:I1FF34), the current Cyclically Adjusted PB Ratio is 1.25 as of Sep. 13, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is International Flavors & Fragrances (BSP:I1FF34) Overvalued in 2026?

Based on GuruFocus' analysis, International Flavors & Fragrances stock appears to be overvalued. The current stock price of R$201.60 is trading 29.2% above its estimated GF Value™ of R$156.02. GuruFocus considers International Flavors & Fragrances to be Modestly Overvalued.

Key valuation signals for BSP:I1FF34:

  • Cyclically Adjusted PB Ratio: 1.25 (68% below median its 10-year median of 3.96)
  • GF Value™: R$156.02 vs. price of R$201.60 (29.2% above fair value)
  • GF Score™: 57/100 with 10 warning signs
  • Industry Position: 25.1% below the Chemicals median (#452 of 1099)

No single metric tells the full story. See the BSP:I1FF34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


International Flavors & Fragrances Business Description

Address 521 West 57th Street, New York, NY, USA, 10019-2960
International Flavors & Fragrances is the largest specialty ingredients producer globally. It sells ingredients for the food, beverage, health, household goods, personal care, and pharmaceutical industries. The company makes proprietary formulations and partners with customers to deliver custom solutions. Through its taste and scent segments, which each generate around 25% of profits, IFF is a leading flavor and fragrance producer. The health and biosciences business, which generates 30% of profits, is a global leader in probiotics and enzymes. The remaining profits come from the food ingredients business, which sells texturants, plant-based proteins, and other ingredients, though IFF plans to divest it in a deal expected to close in 2027.
57GF Score

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Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$201.60
Price
R$156.02
GF Value