IFF
International Flavors & Fragrances Inc.
Is IFF Halal?
Flavors, fragrances, and ingredients maker whose products are permissible, but leverage from the DuPont N&B deal often sits above the threshold.
What You Should Know
International Flavors & Fragrances Inc. develops and manufactures flavors, fragrances, and specialty ingredients. Its March 31, 2026 Form 10-Q reports assets of $25,144 million, interest-bearing debt of $5,817 million, cash of $562 million, receivables of $1,830 million and quarterly revenue of $2,741 million. Debt/assets is 23.13%, liquidity/assets is 2.24% and receivables-plus-cash/assets is 9.51%; the examined asset-based ratios pass. Disclosed investment interest is $3 million (0.11% of quarterly revenue), while product end-use allocation remains qualitative.
⚠️ Concerns
- •Asset-based debt/assets is 23.13%, below examined 33.333% limits; market-cap methods are not calculated
- •The verdict remains methodology-dependent because market-cap denominator and product allocation are not universal
- •Disclosed investment interest is 0.11% of quarterly revenue; no fixed purification percentage is asserted
- •Merger-related leverage and divestitures can change the balance sheet
- •Re-screen before each purchase given the leverage sensitivity
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
5,817 / 25,144
562 / 25,144
2,392 / 25,144
3 / 2,741
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 23.13%, liquidity/assets is 2.24% and receivables-plus-cash/assets is 9.51%; financial ratios pass, while business disclosure remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets, liquidity/assets and receivables-plus-cash/assets are below the examined MSCI limits; business disclosure remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 23.13% and liquidity/assets is 2.24%, below the examined Malaysia limits; this is not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored; asset-based financial ratios pass but business disclosure remains incomplete.
Business-activity disclosure
IFF manufactures flavors, fragrances, enzymes and specialty ingredients for food, beverage, personal-care and industrial customers; the manufacturing activity is generally permissible.
Limitation: The filing does not allocate revenue by prohibited end use or provide a universal prohibited-revenue numerator.
Purification
The filing discloses $3 million of investment interest (0.11% of revenue); treatment is disclosed for transparency, but no scholar-approved purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are USD millions from IFF's March 31, 2026 Form 10-Q.
- Debt uses the reported current and noncurrent debt balances totaling $5,817 million; operating lease liabilities are excluded.
- Cash is $562 million. Receivables use the reported net current receivables balance; tax, earnout and other non-trade balances are not added.
- Interest income of $3 million is the disclosed investment-interest line (0.11% of quarterly revenue); no universal prohibited-revenue numerator is disclosed.
- Flavors, fragrances and ingredients are generally permissible, but customer end-use and product allocation remain qualitative.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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