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1. Company Snapshot

1.a. Company Description

Inter Parfums, Inc., together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally.The company operates in two segments, European Based Operations and United States Based Operations.It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lily Aldridge, Lanvin, Moncler, Montblanc, Rochas, S.T. Dupont, Van Cleef & Arpels, Abercrombie & Fitch, Anna Sui, babe, Dunhill, Ferragamo, Graff, GUESS, Hollister, MCM, Oscar de la Renta, French Connection, and Ungaro brand names, as well as under the Intimate and Aziza names.


It sells its products to department stores, specialty stores, duty free shops, beauty retailers, and domestic and international wholesalers, and distributors, as well as through e-commerce.The company was formerly known as Jean Philippe Fragrances, Inc.and changed its name to Inter Parfums, Inc.


in July 1999.Inter Parfums, Inc.was founded in 1982 and is headquartered in New York, New York.

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1.b. Last Insights on IPAR

Interparfums, Inc.'s recent performance was positively driven by its Q4 2025 earnings beat, with quarterly earnings of $0.88 per share exceeding the Zacks Consensus Estimate of $0.78 per share. The company's sales rose 7% year-over-year, driven by strength in key brands and Travel Retail. Additionally, institutional investors such as Public Sector Pension Investment Board and Versor Investments LP increased their stakes in the company. Interparfums' organic sales growth of 3% also contributed to its positive performance.

1.c. Company Highlights

2. Interparfums' 2025 Earnings: A Record Year with Strong Sales and Margin Management

Interparfums reported a record year in 2025 with sales rising to $1.49 billion, including fourth quarter sales of $386 million. The company's net income reached a record $168 million with a diluted EPS of $5.24, a 2% increase compared to 2024. The actual EPS for Q4 came out at $0.88, beating estimates of $0.78. Gross margin contracted 20 basis points to 63.6% in 2025, primarily driven by higher costs due to tariffs. Operating income declined by 2% to $270 million, with an operating margin of 18.2%, an 80 basis points decline from the prior year.

Publication Date: Feb -27

📋 Highlights
  • Record Annual Sales:: 2025 sales hit $1.49 billion, with Q4 sales of $386 million, a 7% quarterly growth and a new annual record.
  • Brand Growth Drivers:: Cavalli (+33% year-over-year) and MCM (+40% Q4) led portfolio growth, driven by new collections and strategic rebranding.
  • Geographic Performance:: European operations grew 9% in Q4 (4% organic + 4% FX), while U.S. sales rose 4% in Q4 with stable net income of $69 million.
  • Margin Pressures:: Gross margin eroded 20 bps to 63.6% in 2025 due to tariffs, but net income rose 2% to $168 million ($5.24 EPS) despite operating income declines.

Segment Performance

European Based Operations delivered solid net sales growth in both the fourth quarter and full year of 2025, driven by 4% organic growth and 4% favorable FX impact. Gross margin for the full year was 66.1%, a 90 basis points erosion from 2024, mainly driven by tariffs. United States Based Operations achieved a 4% net sales growth in the fourth quarter and 2% organic growth, aided by a 2% favorable FX impact. Gross margin expanded by 40 basis points to 58.3% for the full year, driven by favorable brand mix, channel mix, and pricing actions.

Guidance and Outlook

The company is maintaining its outlook of $1.48 billion in sales and $4.85 in diluted earnings per share, despite a slowdown in market growth. The company believes that its strong innovation pipeline, supported by a long-standing relationship with global distributors and retailers, will drive consistent performance and long-term value. Analysts estimate next year's revenue growth at 8.1%, indicating a positive outlook for the company's future performance.

Valuation Metrics

Interparfums' current valuation metrics indicate a reasonable price for its earnings. The company's P/E Ratio is 19.84, P/B Ratio is 3.79, and P/S Ratio is 2.24. Additionally, the EV/EBITDA ratio is 11.44, and the Dividend Yield is 3.07%. These metrics suggest that the company's stock is fairly valued, considering its earnings growth and dividend yield.

Growth Prospects

The company has a significant pipeline of new blockbusters in 2027 across all of its key brands and is gearing up for a special year in 2027 with five major launches. The company's top 5 brands are its growth engines, and they are diverse across categories, price points, and gender. The rest of the portfolio is either stable or declining, with opportunities for exits. The company plans to add new licenses, such as Longchamp and Nautica, which have potential for growth.

3. NewsRoom

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Interparfums, Inc. $IPAR Shares Bought by SG Americas Securities LLC

Mar -30

Source: defenseworld.net

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Interparfums (IPAR) Reliance on International Sales: What Investors Need to Know

Mar -11

Source: zacks.com

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Interparfums, Inc. $IPAR Shares Bought by Bahl & Gaynor Inc.

Mar -02

Source: defenseworld.net

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Interparfums, Inc. (IPAR) Q4 2025 Earnings Call Transcript

Feb -25

Source: seekingalpha.com

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Interparfums Q4 Earnings Top Estimates, Organic Sales Increase 3%

Feb -25

Source: zacks.com

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Interparfums (IPAR) Beats Q4 Earnings and Revenue Estimates

Feb -25

Source: zacks.com

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Beauty & Cosmetics Growth Story: Radiant Stocks You Should Watch

Feb -20

Source: zacks.com

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Interparfums Q4 Earnings Coming Up: Is There a Beat in Store?

Feb -18

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.00%)

6. Segments

Fragrances and Fragrance Related Products

Expected Growth: 10%

Inter Parfums, Inc.'s 10% growth in Fragrances and Fragrance Related Products is driven by increasing demand for premium and niche fragrances, expansion into emerging markets, strategic partnerships with fashion brands, and innovative product launches. Additionally, the company's focus on digital marketing and e-commerce platforms has enhanced brand visibility and accessibility, contributing to the segment's growth.

7. Detailed Products

Fragrances

Inter Parfums, Inc. offers a wide range of fragrances for men and women, including perfumes, colognes, and body sprays.

Skincare

The company provides a variety of skincare products, including moisturizers, serums, and cleansers, designed to address specific skin concerns.

Haircare

Inter Parfums, Inc. offers a range of haircare products, including shampoos, conditioners, and styling products, for different hair types and needs.

Candles and Home Fragrances

The company provides a selection of candles, diffusers, and room sprays, designed to create a pleasant atmosphere and ambiance.

Licensing and Private Label

Inter Parfums, Inc. offers licensing and private label services, allowing other companies to create their own branded products.

8. Inter Parfums, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Inter Parfums, Inc. is medium due to the presence of established brands and a wide range of products in the fragrance market.

Bargaining Power Of Customers

The bargaining power of customers is low due to the fragmented nature of the market and the lack of concentration among buyers.

Bargaining Power Of Suppliers

The bargaining power of suppliers is medium due to the presence of a few large suppliers of raw materials and the dependence of Inter Parfums, Inc. on these suppliers.

Threat Of New Entrants

The threat of new entrants is high due to the low barriers to entry and the attractiveness of the fragrance market.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of established brands and the high level of competition in the fragrance market.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 19.35%
Debt Cost 9.71%
Equity Weight 80.65%
Equity Cost 9.96%
WACC 9.91%
Leverage 24.00%

11. Quality Control: Inter Parfums, Inc. passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Inter Parfums

A-Score: 6.0/10

Value: 5.5

Growth: 8.0

Quality: 8.1

Yield: 6.0

Momentum: 1.5

Volatility: 7.0

1-Year Total Return ->

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Stock-Card
Clorox

A-Score: 5.7/10

Value: 6.2

Growth: 3.9

Quality: 7.1

Yield: 7.0

Momentum: 0.5

Volatility: 9.3

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Stock-Card
Spectrum Brands

A-Score: 4.8/10

Value: 6.5

Growth: 5.4

Quality: 4.5

Yield: 5.0

Momentum: 1.0

Volatility: 6.3

1-Year Total Return ->

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Stock-Card
Newell Brands

A-Score: 4.0/10

Value: 8.8

Growth: 1.4

Quality: 2.3

Yield: 9.0

Momentum: 0.0

Volatility: 2.3

1-Year Total Return ->

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Stock-Card
e.l.f. Beauty

A-Score: 3.5/10

Value: 1.6

Growth: 9.6

Quality: 5.7

Yield: 0.0

Momentum: 2.0

Volatility: 2.0

1-Year Total Return ->

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Stock-Card
Helen of Troy

A-Score: 2.6/10

Value: 7.7

Growth: 3.2

Quality: 2.1

Yield: 0.0

Momentum: 0.0

Volatility: 2.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

90.61$

Current Price

90.61$

Potential

-0.00%

Expected Cash-Flows