International Flavors & Fragrances vs PPG Industries
PPG Industries is the larger business, with $15.88bn of revenue in fiscal 2025 against $10.89bn for International Flavors & Fragrances (1.5 times as much). PPG Industries grew faster (0.2% against -5.2%). PPG Industries kept more of each dollar of sales as profit: a net margin of 9.9% against -3.3%.
| Latest fiscal year | International Flavors & FragrancesIFF, 2025 | PPG IndustriesPPG, 2025 |
|---|---|---|
| Revenue | $10.89bn | $15.88bn |
| Revenue growth | -5.2% | 0.2% |
| Net income | −$361m | $1.58bn |
| Operating margin | -3.5% | — |
| Net margin | -3.3% | 9.9% |
| Return on equity | -2.6% | 21.4% |
| Free cash flow | $256m | $1.16bn |
| Cash | $590m | $2.16bn |
| Total debt | $6.31bn | $8.01bn |
| Debt to equity | 44.6% | — |
| Dividend per share | $1.60 | $2.78 |
| Dividend yield | 1.7% | 2.3% |
| Share buybacks | $38.0m | $790m |
| Employees | 21,500 | 43,500 |
| Market value | $23.57bn | $27.01bn |
| Price vs our value range | Above our value range | Above our value range |
| Moat score | 45 (Moderate) | 71 (Strong) |
| Insider trades, 12 months | 9 buys, 6 sales | 4 buys, 8 sales |