IPARMEDIUM SIGNALOPERATIONAL10-K

Interparfums completed a significant acquisition of Goutal Paris intellectual property rights from Amorepacific Europe in March 2025, expanding its brand portfolio while delivering strong revenue growth of 21.3%.

The Goutal Paris acquisition represents a strategic expansion of IPAR's luxury fragrance portfolio, with the brand transitioning from Amorepacific's license to IPAR's direct control starting January 1, 2026. The company also expanded geographically into South Korea while discontinuing its Swiss operations, indicating active portfolio optimization and market repositioning.

Comparing 2026-03-10 vs 2025-03-11View on EDGAR →
FINANCIAL ANALYSIS

IPAR delivered strong operational performance with revenue growing 21.3% to $1.3B and operating cash flow increasing 14.5% to $214.9M, while stockholders' equity expanded 18.2% to $880.7M. However, the company's capital expenditures surged 415% to $24.4M and interest expense tripled to $11.3M, likely reflecting acquisition-related investments and increased borrowing. The significant reduction in dividends paid (down 39.8%) alongside higher share buybacks suggests a shift in capital allocation priorities toward growth investments rather than income distribution.

FINANCIAL STATEMENT CHANGES
Capital Expenditure
Cash Flow
+415.1%
$4.7M→$24.4M

Capital expenditure jumped 415.1% — major investment cycle underway; assess returns on deployment.

Interest Expense
P&L
+212.7%
$3.6M→$11.3M

Interest expense surged 212.7% — significant debt increase or rising rates materially impacting earnings.

Share Buybacks
Cash Flow
+140.6%
$32K→$77K

Share repurchases increased 140.6% — management returning capital, signals confidence in intrinsic value.

Dividends Paid
Cash Flow
-39.8%
$34.6M→$20.8M

Dividends cut 39.8% — significant signal of cash flow stress or capital reallocation priorities.

Revenue
P&L
+21.3%
$1.1B→$1.3B

Revenue growing 21.3% — solid top-line momentum, watch margins for quality of growth.

Stockholders Equity
Balance Sheet
+18.2%
$744.9M→$880.7M

Equity base grew 18.2% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Accounts Receivable
Balance Sheet
+16.7%
$274.7M→$320.6M

Receivables grew 16.7% — monitor days sales outstanding for collection efficiency.

Operating Cash Flow
Cash Flow
+14.5%
$187.6M→$214.9M

Operating cash flow grew 14.5% — strong conversion of earnings to cash, healthy business fundamentals.

Total Assets
Balance Sheet
+12.3%
$1.4B→$1.6B

Asset base grew 12.3% — expansion through organic growth, acquisitions, or capital deployment.

Current Assets
Balance Sheet
+12.3%
$914.8M→$1.0B

Current assets grew 12.3% — improving short-term liquidity or inventory/receivables build.

LANGUAGE CHANGES
NEW — 2026-03-10
PRIOR — 2025-03-11
ADDED
$ 2,384,600,367 of voting equity and $0 of non-voting equity.
Sales and marketing office South Korea Interparfums Korea Co., Ltd.
Distribution of prestige brands in the South Korea Interparfums SA is also the majority owner of Parfums Rochas Spain, SL, a Spanish limited liability company, which specializes in the distribution of Rochas fragrances.
In addition, in March 2025 Interparfums SA acquired all intellectual property rights relating to Goutal Paris held by Amorepacific Europe.
Amorepacific Europe continued to operate the Goutal brand under an existing license agreement that expired on December 31, 2025, and Interparfums SA began commercial use of the fragrance brand on January 1, 2026.
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REMOVED
ipar-20241231.htm 0 true false false false true true false Secured Overnight Financing Rate ("SOFR") Three-Month Euribor Secured Overnight Financing Rate ("SOFR") 3 Years, 4 months 6 7 50 3 5 3 20 3 4 false false false 15 three year four year ten year 0 false 2024 --12-31 FY 0000822663 Other segment items for each reportable segment include expenses for professional services, travel amp; entertainment, rent, warehousing, shipping, depreciation amp; amortization, and other selling, general and administrative costs.
$ 2,091,134,547 of voting equity and $0 of non-voting equity.
Sales and marketing office Switzerland Interparfums (Suisse) Sarl Holds and manages certain brand names Interparfums SA is also the majority owner of Parfums Rochas Spain, SL, a Spanish limited liability company, which specializes in the distribution of Rochas fragrances.
United States Based Operations Prestige brand fragrance products are also produced and marketed through our United States based operations and represented approximately 35 % of net sales for the year ended December 31, 2024.
2 Recent Developments Solf rino 2025 will mark the creation of Interparfums SA s first proprietary brand Solf rino , a collection of 10 niche fragrances developed by star perfumers and intended for the collector s fragrance market, to be launched initially through an ultra-selective distribution channel of some 100 points of sale.
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