At a glance
Inter Parfums Inc is worth $3.66B, about 22 times its fiscal 2025 earnings. Revenue grew 2.5% to $1.49B in fiscal 2025, with 11.3% kept as profit; over 5 years it has grown 22.5% a year. It pays a 2.8% dividend yield, raised every year for at least 5 years, and returned $403.5M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +23.2% over the past year with dividends reinvested and +7.5% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 49.2% in the 2020 crash (S&P 500: 33.7%) and 38.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 11 months and 7 months after the lows.
The business in plain English
Interparfums, founded in 1982 and based in New York, creates and sells prestige perfumes. Most of its brands are licensed. Owners such as Coach, Montblanc and GUESS let Interparfums use their names. In return, it pays royalties (a share of sales) and commits to minimum advertising spending. It also owns some brands: Rochas, Goutal, the Lanvin and Off-White names for fragrances, and its own niche line, Solférino.
Interparfums owns no factories, so the business needs little capital. It designs each scent, bottle and package, buys components from suppliers and pays outside "fillers" (contract manufacturers) to make the finished goods. It typically launches a major new fragrance family for a brand every few years and adds seasonal or limited editions, called flankers, in between. It sells through distributors and retailers, and its European brands reach over 120 countries.
Net sales were about $1.49 billion in fiscal 2025. European based operations, run through Interparfums SA, a 72%-owned Paris subsidiary that is also listed on Euronext, produced about 68%. That unit's brands include Jimmy Choo, Lacoste and Van Cleef & Arpels. United States based operations, with brands such as Abercrombie & Fitch, Ferragamo and Donna Karan/DKNY, made up about 32%. By region, North America led with 37%, then Western Europe at 26% and Asia Pacific at 13%.
Price history
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IPAR +23.2% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| European based operations | $1.01B | 67.6% |
| United States based operations | $482.4M | 32.4% |
By geography
| North America | $556.7M | 37.4% |
| Western Europe | $383.2M | 25.7% |
| Asia Pacific | $189.0M | 12.7% |
| Eastern Europe | $121.1M | 8.1% |
| Central and South America | $120.6M | 8.1% |
| Middle East and Africa | $117.9M | 7.9% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $341.0M, up 2.1% from a year earlier, and net income was $30.5M (-4.7%).
- For fiscal 2025, revenue was $1.49B (+2.5% year over year; +22.5% a year from FY2020 to FY2025) with a 11.3% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +22.5% good |
|---|---|
| Operating margin | 18.2% good |
| Free cash flow margin | 12.8% good |
| Return on equity (FY2025) | 19.1% good |
| Return on assets (FY2025) | 10.6% good |
| Net cash (cash minus debt) | $-101.2M weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $539.0M | $38.2M | $54.0M |
| FY2021 | $879.5M | $87.4M | $-21.7M |
| FY2022 | $1.09B | $120.9M | $39.3M |
| FY2023 | $1.32B | $152.7M | $99.3M |
| FY2024 | $1.45B | $164.4M | $182.9M |
| FY2025 | $1.49B | $168.4M | $190.5M |
Valuation snapshot
| Market value | $3.66B |
|---|---|
| P/E ratio | 21.8 |
| Dividend yield | 2.8% |
Rank among 1514 US companies
Market value at each year end
Inter Parfums’s market value went from $1.02B at the end of 2016 to $3.66B on Oct 28, 2026, about 3.6 times as much; since the end of 2025 it is up 35%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $3.66B | +34.5% |
| 2025 | $2.72B | -35.4% |
| 2024 | $4.21B | -8.5% |
| 2023 | $4.61B | +49.7% |
| 2022 | $3.08B | -9.3% |
| 2021 | $3.39B | +77.8% |
| 2020 | $1.91B | -16.6% |
| 2019 | $2.29B | +11.4% |
| 2018 | $2.05B | +51.6% |
| 2017 | $1.36B | +33.0% |
| 2016 | $1.02B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| IPAR price data to Oct 28, 2026 | +37.9% | +23.2% | 0.0% | +7.5% | +15.7% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +37.9% |
| 2025 | -33.6% |
| 2024 | -6.4% |
| 2023 | +52.0% |
| 2022 | -7.4% |
| 2021 | +79.0% |
| 2020 | -16.3% |
| 2019 | +12.8% |
| 2018 | +53.3% |
| 2017 | +35.1% |
| 2016 | +40.3% |
| 2015 | -11.6% |
| 2014 | -22.1% |
| 2013 | +89.5% |
| 2012 | +27.4% |
| 2011 | -15.9% |
| 2010 | +57.5% |
| 2009 | +60.8% |
| 2008 | -35.2% |
| 2007 | -5.5% |
| 2006 | +7.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 77.8% over that stretch · deepest drop along the way 80.9%, back to its old high 17 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 44.8% over that stretch · deepest drop along the way 49.2%, back to its old high 10.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 27.2% over that stretch · deepest drop along the way 38.6%, back to its old high 6.7 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (16 read): 0 open-market purchases and 3 sales ($4.0M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Dec 11, 2025 | Philippe Benacin President Interparfums SA, Director, 10% owner | sell | $2.1M |
| Apr 2, 2026 | Jean Madar CEO, Director, 10% owner | sell | $1.8M |
| Aug 27, 2026 | Veronique Gabai-Pinsky Director | sell | $105K |
Who owns it
ETFs with the most weight in IPAR
| PSCC Invesco S&P SmallCap Consumer Staples ETF | 4.89% |
| SMIG Bahl & Gaynor Small/Mid Cap Income Growth ETF | 2.62% |
| GRPZ Invesco S&P SmallCap 600 GARP ETF | 1.37% |
| DGRS WisdomTree US Smallcap Quality Dividend Growth Fund | 1.34% |
| FSGS First Trust SMID Growth Strength ETF | 0.9% |
| JPSV JPMorgan Active Small Cap Value ETF | 0.86% |
| FSCS First Trust SMID Capital Strength ETF | 0.86% |
| SDVD FT Vest SMID Rising Dividend Achievers Target Income ETF | 0.74% |
What could go wrong
- Most brands are licensed, not owned. Apart from a few owned brands like Lanvin and Rochas, its brands are licensed for fixed terms, with minimum royalties and sales targets. Losing a license, or renewing on worse terms, could cut sales.
- Heavy reliance on two top executives. The company says it depends on CEO Jean Madar and Philippe Benacin, president of Interparfums SA. Both are directors and 10% owners. Losing either could harm the business.
- Brand values can be written down. Trademarks and licenses carry value on the balance sheet. If a brand weakens, a non-cash write-down cuts reported profit. Rochas fashion trademark charges totaled $9.2 million in 2021–2022 and $4.0 million in 2024.
- Outside firms make and distribute its products. Interparfums owns no factories. It relies on outside suppliers, fillers and distributors. A failure or disruption at any of them, or at its distribution centers, could delay products and hurt sales.
- Currency swings, tariffs and foreign conflicts. About 68% of sales come from European based operations, and products sell worldwide. Swings in exchange rates, tariffs, trade barriers and conflicts such as the Russia-Ukraine war and the war with Iran could hurt results.
- Shifting tastes and tighter consumer budgets. Success depends on public taste in a fiercely competitive fragrance industry. In an economic downturn, shoppers may cut back on prestige perfumes, and inflation can raise costs.
Recent events
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Shareholder vote results; Other company announcement
- Quarterly results released; Investor presentation or announcement; Other company announcement
- Quarterly results released; Investor presentation or announcement
- Change of auditor
- Quarterly results released; Investor presentation or announcement; Other company announcement
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement; Other company announcement
- Investor presentation or announcement; Other company announcement
For income and retirement investors
Interparfums pays a regular dividend and has raised it for five straight years, from $0.33 per share in fiscal 2020 to $3.20 in fiscal 2025. The 2025 dividends used about 61% of earnings and 54% of free cash flow (cash left after running and investing in the business). The yield was 2.8% as of October 28, 2026. Buybacks have been small: about $29 million over fiscal 2021–2025, against $374 million in dividends. The share count rose 1.2% between August 2021 and August 2026.
The shares have fallen hard in downturns. They dropped 80.9% during the 2008 financial crisis and took about 17 months from the March 2009 low to get back to their earlier peak. They fell 49.2% in the 2020 COVID crash and 38.6% in the 2022 bear market, recovering in about 11 and 7 months, respectively. They also lost 33.6% in calendar 2025. As a single stock, IPAR carries more risk than a diversified fund.
Questions investors ask
How does Interparfums make money?
Interparfums makes money by creating and selling prestige perfumes, mostly under licenses from brand owners such as Coach, Jimmy Choo, Lacoste, Montblanc and GUESS. It pays the owners royalties and commits to minimum advertising. It develops the scents, bottles and packaging, has outside contract manufacturers produce them, and sells them through distributors and retailers. Net sales were about $1.49 billion in fiscal 2025. Several licenses have been extended, including GUESS through December 31, 2048, and Coach through June 30, 2031.
Does Interparfums raise its dividend every year?
Yes, for five straight years. Regular dividends per share went from $0.33 in fiscal 2020 to $1.00 in 2021, $2.00 in 2022, $2.50 in 2023, $3.00 in 2024 and $3.20 in 2025. The 2025 payout used about 61% of earnings and 54% of free cash flow. The yield was 2.8% as of October 28, 2026. A five-year record is fairly short, and past increases do not guarantee future ones.
Is Interparfums still growing?
Sales are still growing, but more slowly. Net sales rose from $539 million in fiscal 2020 to $1.49 billion in fiscal 2025, about 22.5% a year. In 2025, though, both sales and net income grew only 2.5%. In the quarter ended June 30, 2026, sales rose 2.1% from a year earlier while net income fell 4.7%. New brands could help: it took over the Goutal and Off-White fragrances in January 2026, and the first Longchamp launch is expected in 2027.
What is the difference between Interparfums Inc. and Interparfums SA?
Interparfums Inc., listed on Nasdaq as IPAR, is the US parent company. It owns 72% of Interparfums SA, a Paris-based subsidiary whose remaining 28% trades on Euronext under the symbol ITP. Interparfums SA runs the European based operations, which produced about 68% of net sales in fiscal 2025 and hold brands such as Coach, Jimmy Choo, Montblanc and Van Cleef & Arpels. Because IPAR owns less than all of it, part of that unit's profit belongs to outside shareholders.
How has Interparfums stock performed?
It has been volatile. As of October 28, 2026, the share price was up 37.9% for the year to date and 23.2% over one year, after a 33.6% drop in calendar 2025. Over longer periods, the price gained about 7.5% a year over five years and 15.7% a year over ten years. The stock has also had deep falls, including 80.9% during the 2008 financial crisis and 46.4% at its worst in the three years to October 28, 2026.