Detailed financial statements for Inter Parfums, Inc. (IPAR): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year: ten fiscal years free and up to 20 with Premium.
Inter Parfums, Inc., through its various subsidiaries, is engaged in the global development, marketing, and distribution of perfumes and related scented merchandise. The company's operations are divided into two main geographical segments: those based in Europe and those in the United States.
Analysis Summary
Inter Parfums, Inc. reported revenue of $1.49B in the most recent fiscal year, growing at a 5-year CAGR of 22.5%. Net income reached $168.4M, with a 34.5% 5-year CAGR.
Trailing-twelve-month margins: gross margin 63.8%, operating margin 17.3%, net margin 11.2%. Free cash flow grew at 29.3% CAGR over 5 years.
At $116.37 (closing price, October 30, 2026), IPAR trades at a P/E of 22.25 and an ROE of 19.15%. Market capitalisation stands at $3.7B.
Balance sheet quality for IPAR: current ratio of 3.0, net cash position of $71.5M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is strong: free cash flow of $190.5M represents 113% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $521.1M | $591.3M | $675.6M | $713.5M | $539.0M | $879.5M | $1.09B | $1.32B | $1.45B | $1.49B |
| Cost of Revenue | $194.6M | $215.0M | $248.0M | $267.6M | $208.3M | $322.6M | $392.2M | $478.6M | $525.0M | $541.3M |
| Gross Profit | $326.5M | $376.3M | $427.6M | $445.9M | $330.7M | $556.9M | $694.4M | $839.1M | $927.3M | $947.2M |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $258.8M | $295.5M | $332.8M | $341.2M | $260.6M | $406.5M | $492.4M | $587.7M | $648.5M | $676.9M |
| Operating Expenses | $259.8M | $297.7M | $332.8M | $341.2M | $260.6M | $408.9M | $500.1M | $587.7M | $652.5M | $676.9M |
| Operating Income | $66.7M | $78.6M | $94.7M | $104.7M | $70.1M | $148.1M | $194.3M | $251.4M | $274.8M | $270.3M |
| EBITDA | $84.8M | $92.0M | $109.5M | $116.0M | $80.4M | $166.5M | $220.4M | $278.2M | $304.6M | $303.9M |
| Interest Expense | $2.3M | $2.0M | $2.6M | $2.1M | $2.0M | $2.8M | $3.6M | $11.3M | $7.8M | $7.2M |
| Pre-tax Income | $67.1M | $78.1M | $95.9M | $105.1M | $69.3M | $151.0M | $194.2M | $249.6M | $268.4M | $271.3M |
| Income Tax | $23.8M | $22.8M | $26.1M | $29.1M | $19.4M | $41.0M | $43.2M | $61.8M | $65.0M | $63.2M |
| Net Income | $33.3M | $41.6M | $53.8M | $60.2M | $38.2M | $87.4M | $120.9M | $152.7M | $164.4M | $168.4M |
| EPS | $1.07 | $1.33 | $1.72 | $1.92 | $1.21 | $2.76 | $3.80 | $4.77 | $5.13 | $5.25 |
| EPS (Diluted) | $1.07 | $1.33 | $1.71 | $1.90 | $1.21 | $2.75 | $3.78 | $4.75 | $5.12 | $5.24 |
| Shares Outstanding (Diluted) | 31.2 M | 31.3 M | 31.5 M | 31.7 M | 31.7 M | 31.8 M | 32.0 M | 32.1 M | 32.1 M | 32.1 M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | $429.6M | $386.2M | $344.9M | $341.0M |
| Gross Profit | $272.8M | $237.3M | $224.6M | $223.5M |
| Operating Income | $108.6M | $27.5M | $74.1M | $48.9M |
| EBITDA | $116.4M | $43.1M | $82.4M | $54.0M |
| Net Income | $65.8M | $28.1M | $43.4M | $30.5M |
| EPS | $2.05 | $0.88 | $1.35 | $0.95 |
| EPS (Diluted) | $2.05 | $0.88 | $1.35 | $0.95 |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $161.8M | $208.3M | $193.1M | $192.4M | $169.7M | $159.6M | $104.7M | $88.5M | $125.4M | $158.1M |
| Short-term Investments | $94.2M | $69.9M | $67.9M | $60.7M | $126.6M | $160.0M | $150.8M | $94.3M | $109.3M | $137.1M |
| Receivables | $112.9M | $126.6M | $136.2M | $135.2M | $128.7M | $169.8M | $226.5M | $254.9M | $281.1M | $340.9M |
| Inventory | $97.0M | $137.1M | $161.0M | $167.8M | $158.8M | $198.9M | $290.0M | $371.9M | $371.9M | $351.4M |
| Total Current Assets | $480.2M | $549.3M | $569.4M | $573.3M | $600.7M | $709.7M | $787.7M | $839.0M | $914.8M | $1.03B |
| Property, Plant & Equipment | $10.1M | $10.3M | $9.8M | $39.5M | $44.3M | $183.1M | $194.7M | $197.8M | $178.4M | $208.2M |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $325.2M |
| Intangible Assets | $183.9M | $200.5M | $204.3M | $202.0M | $214.1M | $214.0M | $290.9M | $296.4M | $282.5M | 0 |
| Total Assets | $682.4M | $777.8M | $799.2M | $828.8M | $890.1M | $1.15B | $1.31B | $1.37B | $1.41B | $1.59B |
| Accounts Payable | $49.5M | $52.6M | $58.3M | $54.1M | $35.6M | $82.0M | $88.4M | $97.4M | $91.0M | $77.2M |
| Short-term Debt | $21.5M | $24.4M | $23.2M | $12.3M | $14.6M | $15.9M | $28.5M | $34.0M | $49.9M | $70.5M |
| Total Current Liabilities | $142.2M | $167.1M | $187.0M | $184.5M | $156.2M | $244.9M | $344.6M | $324.7M | $332.4M | $344.0M |
| Long-term Debt | $53.1M | $36.2M | $22.9M | $10.7M | $10.1M | $132.9M | $151.5M | $127.9M | $115.7M | $137.2M |
| Total Liabilities | $198.8M | $207.1M | $213.4M | $219.8M | $187.7M | $407.0M | $520.4M | $477.2M | $468.6M | $481.2M |
| Retained Earnings | $402.7M | $422.6M | $448.7M | $474.6M | $503.6M | $560.7M | $620.1M | $693.8M | $763.2M | $828.9M |
| Total Equity | $370.4M | $433.3M | $447.6M | $468.0M | $535.8M | $571.9M | $616.8M | $699.4M | $744.9M | $880.7M |
| Total Debt | $74.6M | $60.6M | $46.1M | $53.1M | $51.2M | $184.0M | $209.7M | $192.4M | $192.2M | $223.7M |
| Net Debt | -$181.5M | -$217.7M | -$214.9M | -$200.1M | -$245.1M | -$135.6M | -$45.9M | $9.6M | -$42.5M | -$71.5M |
| Working Capital | $338.0M | $382.2M | $382.4M | $388.8M | $444.5M | $464.8M | $443.2M | $514.3M | $582.4M | $683.4M |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Cash & Equivalents | $110.4M | $158.1M | $79.9M | $169.7M |
| Total Assets | $1.56B | $1.59B | $1.54B | $1.49B |
| Total Liabilities | $460.2M | $481.2M | $430.2M | $399.4M |
| Total Equity | $870.9M | $880.7M | $881.6M | $870.5M |
| Total Debt | $229.9M | $223.7M | $182.8M | $164.9M |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $43.2M | $55.3M | $69.7M | $76.1M | $50.0M | $110.0M | $151.0M | $152.7M | $203.4M | $168.4M |
| Depreciation & Amortization | $15.3M | $11.9M | $11.0M | $8.7M | $9.1M | $12.7M | $22.5M | $17.3M | $28.4M | $25.3M |
| Stock-based Compensation | $1.2M | $2.1M | $2.2M | $3.4M | $3.0M | $2.9M | $3.1M | 0 | $2.4M | 0 |
| Change in Working Capital | -$228,000 | -$32.5M | -$20.9M | -$11.7M | -$7.3M | -$13.7M | -$65.6M | -$102.0M | -$49.7M | -$20.7M |
| Operating Cash Flow | $54.6M | $35.9M | $63.0M | $76.5M | $65.0M | $119.6M | $115.2M | $105.8M | $187.6M | $214.9M |
| Capital Expenditure | -$5.7M | -$4.1M | -$12.5M | -$11.5M | -$12.3M | -$142.8M | -$132.6M | -$53.4M | -$4.7M | -$24.4M |
| Acquisitions | $965,000 | $1.0M | $8.5M | $6.1M | -$14.0M | $1.5M | -$4.4M | 0 | 0 | -$1.5M |
| Stock Repurchased | -$77,000 | 0 | 0 | -$4.5M | 0 | -$5.4M | -$6.0M | -$15.4M | 0 | -$13.9M |
| Dividends Paid | -$18.0M | -$21.2M | -$26.3M | -$34.6M | -$20.8M | -$31.7M | -$63.7M | -$80.0M | -$96.0M | -$102.7M |
| Free Cash Flow | $48.8M | $31.8M | $50.6M | $65.0M | $52.7M | -$23.2M | -$17.5M | $52.4M | $182.9M | $190.5M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Operating Cash Flow | $63.9M | $146.5M | $85,000 | $45.6M |
| Capital Expenditure | -$5.3M | -$1.5M | -$1.4M | -$1.0M |
| Free Cash Flow | $58.6M | $145.0M | -$1.3M | $44.6M |
| Dividends Paid | -$25.7M | -$25.6M | -$25.6M | -$25.6M |
| Stock-based Compensation | $367,000 | 0 | $425,000 | $425,000 |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +13.5% | +14.3% | +5.6% | -24.5% | +63.2% | +23.6% | +21.3% | +10.2% | +2.5% | |
| Net Income Growth (YoY) | +24.8% | +29.3% | +12.0% | -36.6% | +128.7% | +38.4% | +26.2% | +7.7% | +2.5% | |
| EPS Growth (YoY) | +24.3% | +29.3% | +11.6% | -37.0% | +128.1% | +37.7% | +25.5% | +7.5% | +2.3% | |
| Shares Change (YoY) | +0.4% | +0.7% | +0.5% | -0.1% | +0.6% | +0.5% | +0.5% | -0.0% | +0.0% | |
| FCF Growth (YoY) | -34.8% | +58.9% | +28.4% | -18.8% | -144.1% | +24.8% | +400.0% | +249.0% | +4.1% | |
| Gross Margin | 62.7% | 63.6% | 63.3% | 62.5% | 61.4% | 63.3% | 63.9% | 63.7% | 63.9% | 63.6% |
| Operating Margin | 12.8% | 13.3% | 14.0% | 14.7% | 13.0% | 16.8% | 17.9% | 19.1% | 18.9% | 18.2% |
| EBITDA Margin | 16.3% | 15.6% | 16.2% | 16.3% | 14.9% | 18.9% | 20.3% | 21.1% | 21.0% | 20.4% |
| Net Margin | 6.4% | 7.0% | 8.0% | 8.4% | 7.1% | 9.9% | 11.1% | 11.6% | 11.3% | 11.3% |
| FCF Margin | 9.4% | 5.4% | 7.5% | 9.1% | 9.8% | -2.6% | -1.6% | 4.0% | 12.6% | 12.8% |
| Effective Tax Rate | 35.5% | 29.2% | 27.3% | 27.7% | 27.9% | 27.1% | 22.2% | 24.8% | 24.2% | 23.3% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $1.57 | $1.02 | $1.60 | $2.05 | $1.67 | $-0.73 | $-0.55 | $1.63 | $5.69 | $5.93 |
| Dividends Per Share | $0.58 | $0.68 | $0.83 | $1.09 | $0.66 | $1.00 | $1.99 | $2.49 | $2.99 | $3.20 |
| Shares Outstanding (Basic) | 31.1 M | 31.2 M | 31.3 M | 31.5 M | 31.5 M | 31.7 M | 31.9 M | 32.0 M | 32.0 M | 32.1 M |
What to look at in Consumer Defensive companies
- Gross margin (stable 5y) (Stable >=35%) — Brand pricing power — Coca-Cola does not drop margins.
- ROE / ROIC stable (ROE >=15% stable) — Defensive businesses have high consistent ROEs — Lynch's stalwarts.
- FCF / Net Income (>=90%) — Earnings to cash conversion — best names exceed 95%.
- Dividend growth 10y (>=6%/year) — Dividend Aristocrats raise 25+ years — moat signal.
- Payout Ratio (<75%) — >80% = dividend at risk. <60% comfortable.
- Net Debt / EBITDA (<2.5x) — Defensive with high debt loses its essence.
Profitability
| Return on Equity | 19.15% |
| Return on Invested Capital | 15.82% |
| Return on Assets | 11.26% |
| Gross Margin | 63.82% |
| Operating Margin | 17.26% |
| Net Margin | 11.17% |
Financial Health
| Debt / Equity | 0.19 |
| Current Ratio | 3.31 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 6.15 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 30.61 | 32.67 | 38.12 | 37.87 | 49.99 | 38.73 | 25.40 | 30.19 | 25.64 | 16.16 |
| P/B | 2.75 | 3.13 | 4.59 | 4.89 | 3.56 | 5.92 | 4.99 | 6.59 | 5.66 | 3.09 |
| P/S | 1.95 | 2.29 | 3.04 | 3.20 | 3.54 | 3.85 | 2.83 | 3.50 | 2.90 | 1.83 |
| Gross Margin | 62.7% | 63.6% | 63.3% | 62.5% | 61.4% | 63.3% | 63.9% | 63.7% | 63.9% | 63.6% |
| Operating Margin | 12.8% | 13.3% | 14.0% | 14.7% | 13.0% | 16.8% | 17.9% | 19.1% | 18.9% | 18.2% |
| Net Margin | 6.4% | 7.0% | 8.0% | 8.4% | 7.1% | 9.9% | 11.1% | 11.6% | 11.3% | 11.3% |
Related companies: EL · COTY · PG · UL · ULVR.L · 0P59.L · CL · 0JQZ.L
Explore sector: Consumer Defensive · Household & Personal Products
More sections of IPAR: Overview · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
Discover more: Weekly Radar: the S&P 500 through the Buffett and Lynch methods · Companies that pass the Buffett method today · Companies that pass the Lynch method today · Stocks that pass Graham's defensive investor test today · Investment Academy — learn to analyze stocks