MCCORMICK & CO INC MKC

Consumer staples SIC 2090 - Miscellaneous Food Preparations & Kindred Products NAICS Manufacturing › Food Manufacturing derived NYSE

Last close 48.12 2026-10-23
Market cap $12.95B estimated share count
52-week range 43.25 - 72.41

Valuation FY2025 figures against the last close

P/S1.9x
P/E16.4x
P/FCF17.5x
EV/EBITDA12.7x
Dividend yield3.7%
Diluted EPS2.93

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Other Countries
  • Emea
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 4.2B (60.9%) 61% United States Other Countries, FY2025: 1.4B (20.5%) 21% Other Countries Emea, FY2025: 1.3B (18.5%) 19% Emea FY2024 United States, FY2024: 4.1B (61.0%) 61% Other Countries, FY2024: 1.4B (20.5%) 21% Emea, FY2024: 1.2B (18.4%) 18% FY2023 United States, FY2023: 4.1B (61.3%) 61% Other Countries, FY2023: 1.4B (20.5%) 20% Emea, FY2023: 1.2B (18.2%) 18%
Region FY2025FY2024FY2023
United States $4.17B $4.10B $4.08B
Other Countries $1.40B $1.38B $1.37B
Emea $1.27B $1.24B $1.21B

As the company reported it, from the “Business Segments And Geographic Areas (Net Sales And Long-Lived Assets Geographic Areas) (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • Consumer Segment - Spices & seasoning
  • Flavor Solutions Segment - Flavors
  • Consumer Segment - Condiments & sauces
  • Consumer Segment - Regional leaders
  • Flavor Solutions Segment - Branded foodservice
  • Consumer Segment - Recipe mixes
  • Flavor Solutions Segment - Custom condiments
  • Flavor Solutions Segment - Coatings, bulk spices & herbs
Revenue by segment, 8 categories over 3 years. The same figures are in the table below. FY2025 Consumer Segment - Spices & seasoning, FY2025: 1.7B (25.0%) 25% Flavor Solutions Segment - Flavors, FY2025: 1.6B (23.7%) 24% Flavor Solutions Segment - Flavors Consumer Segment - Condiments & sauces, FY2025: 950.9M (13.9%) 14% Consumer Segment - Regional leaders, FY2025: 852.7M (12.5%) 12% Flavor Solutions Segment - Branded foodservice, FY2025: 614.1M (9.0%) 9% Consumer Segment - Recipe mixes, FY2025: 439.1M (6.4%) 6% Flavor Solutions Segment - Custom condiments, FY2025: 329.3M (4.8%) 5% Flavor Solutions Segment - Coatings, bulk spices & herbs, FY2025: 326.7M (4.8%) 5% FY2024 Consumer Segment - Spices & seasoning, FY2024: 1.7B (24.6%) 25% Flavor Solutions Segment - Flavors, FY2024: 1.6B (24.1%) 24% Consumer Segment - Condiments & sauces, FY2024: 936.6M (13.9%) 14% Consumer Segment - Regional leaders, FY2024: 823.2M (12.2%) 12% Flavor Solutions Segment - Branded foodservice, FY2024: 615.1M (9.1%) 9% Consumer Segment - Recipe mixes, FY2024: 437.7M (6.5%) 7% Flavor Solutions Segment - Custom condiments, FY2024: 336.8M (5.0%) 5% Flavor Solutions Segment - Coatings, bulk spices & herbs, FY2024: 304.7M (4.5%) 5% FY2023 Consumer Segment - Spices & seasoning, FY2023: 1.6B (23.7%) 24% Flavor Solutions Segment - Flavors, FY2023: 1.6B (23.8%) 24% Consumer Segment - Condiments & sauces, FY2023: 921M (13.8%) 14% Consumer Segment - Regional leaders, FY2023: 877.5M (13.2%) 13% Flavor Solutions Segment - Branded foodservice, FY2023: 598.4M (9.0%) 9% Consumer Segment - Recipe mixes, FY2023: 430.5M (6.5%) 6% Flavor Solutions Segment - Custom condiments, FY2023: 317.1M (4.8%) 5% Flavor Solutions Segment - Coatings, bulk spices & herbs, FY2023: 353.7M (5.3%) 5%
Segment FY2025FY2024FY2023
Consumer Segment - Spices & seasoning $1.71B $1.65B $1.58B
Flavor Solutions Segment - Flavors $1.62B $1.62B $1.59B
Consumer Segment - Condiments & sauces $950.9M $936.6M $921.0M
Consumer Segment - Regional leaders $852.7M $823.2M $877.5M
Flavor Solutions Segment - Branded foodservice $614.1M $615.1M $598.4M
Consumer Segment - Recipe mixes $439.1M $437.7M $430.5M
Flavor Solutions Segment - Custom condiments $329.3M $336.8M $317.1M
Flavor Solutions Segment - Coatings, bulk spices & herbs $326.7M $304.7M $353.7M

As the company reported it, from the “Business Segments And Geographic Areas (Revenue from External Customers by Products and Services) (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $6.84B$6.72B$6.66B$6.35B$6.32B$5.60B$5.35B$5.30B$4.73B$4.41B
Cost of revenue $4.25B$4.13B$4.16B$4.08B$3.82B$3.30B$3.20B$3.21B$2.94B$2.58B
Gross profit $2.59B$2.59B$2.50B$2.27B$2.49B$2.30B$2.15B$2.09B$1.79B$1.83B
R&D $106.1M$102.9M$94.9M$87.5M$87.3M$68.6M$67.3M$69.4M$66.1M$61.0M
SG&A $1.50B$1.52B$1.48B$1.36B$1.40B$1.28B$1.17B$1.16B$1.03B$1.18B
Operating income $1.07B$1.06B$963.0M$863.6M$1.02B$999.5M$957.7M$891.1M$699.8M$641.0M
Interest expense $196.2M$209.4M$208.2M$149.1M$136.6M$135.6M$165.2M$174.6M$95.7M$56.0M
Pre-tax income $913.0M$898.3M$798.7M$812.8M$895.8M$881.5M$819.2M$741.3M$594.8M$589.2M
Income tax $195.8M$184.0M$174.5M$168.6M$192.7M$174.9M$157.4M$157.3M$151.3M$153.0M
Net income $789.4M$788.5M$680.6M$682.0M$755.3M$747.4M$702.7M$933.4M$477.4M$472.3M
EPS, basic 2.942.942.542.542.832.802.653.553.773.73
EPS, diluted 2.932.922.522.522.802.782.623.503.723.69
Shares, diluted (wtd. avg.) 269.4M269.6M269.8M270.2M269.9M269.1M268.1M266.5M128.4M128.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $95.9M$186.1M$166.6M$334.0M$351.7M$423.6M$155.4M$96.6M$186.8M$118.4M
Receivables $628.9M$587.4M$587.5M$573.7M$549.5M$528.5M$502.9M$518.1M$555.1M$465.2M
Inventory $1.27B$1.24B$1.13B$1.34B$1.18B$1.03B$801.2M$786.3M$793.3M$756.3M
Total current assets $2.14B$2.14B$2.00B$2.39B$2.20B$2.08B$1.55B$1.48B$1.62B$1.42B
Property, plant and equipment $1.45B$1.41B$1.32B$1.20B$1.14B$1.03B$952.6M$941.5M$809.1M$669.4M
Goodwill $5.30B$5.23B$5.26B$5.21B$5.34B$4.99B$4.51B$4.53B$4.49B$1.77B
Other intangibles $3.29B$3.32B$3.36B$3.39B$3.45B$3.24B$2.85B$2.87B$3.07B$424.9M
Total assets $13.20B$13.07B$12.86B$13.12B$12.91B$12.09B$10.36B$10.26B$10.39B$4.64B
Short-term debt $509.1M$265.2M$799.3M$270.6M$770.3M$263.9M$97.7M$83.5M$325.6M$2.9M
Total current liabilities $3.06B$2.88B$3.10B$3.43B$3.22B$3.05B$2.15B$2.00B$1.95B$1.42B
Long-term debt $3.11B$3.59B$3.34B$3.64B$3.97B$3.75B$3.63B$4.05B$4.44B$1.05B
Total liabilities $7.43B$7.75B$7.78B$8.43B$8.48B$8.15B$6.91B$7.07B$7.81B$3.00B
Retained earnings $3.82B$3.54B$3.25B$3.02B$2.78B$2.42B$2.06B$1.76B$1.17B$1.06B
Total equity $5.74B$5.29B$5.08B$4.70B$4.43B$3.94B$3.46B$3.18B$2.57B$1.64B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $962.2M$921.9M$1.24B$651.5M$828.3M$1.04B$946.8M$821.2M$815.3M$658.1M
Depreciation and amortisation $231.3M$208.8M$199.3M$200.6M$186.3M$165.0M$158.8M$150.7M$125.2M$108.7M
Stock-based compensation $46.2M$47.4M$63.4M$60.3M$66.6M$46.0M$37.2M$25.6M$23.9M$25.6M
Capital expenditure $221.8M$274.9M$263.9M$262.0M$278.0M$225.3M$173.7M$169.1M$182.4M$153.8M
Investing cash flow -$255.2M-$269.0M-$260.5M-$146.4M-$908.6M-$1.03B-$171.0M-$158.5M-$4.51B-$267.1M
Financing cash flow -$840.9M-$583.1M-$1.18B-$487.2M$22.0M$220.9M-$725.8M-$751.1M$3.76B-$371.5M
Dividends paid $483.0M$451.0M$418.5M$396.7M$363.3M$330.1M$302.2M$273.4M$237.6M$217.8M
Buybacks $34.8M$53.1M$35.7M$38.8M$8.6M$47.3M$95.1M$62.3M$137.8M$242.7M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000063754-26-000037.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 2B 4B 6B 8B Revenue, FY2016: 4.4B Gross profit, FY2016: 1.8B Net income, FY2016: 472.3M Revenue, FY2017: 4.7B Gross profit, FY2017: 1.8B Net income, FY2017: 477.4M Revenue, FY2018: 5.3B Gross profit, FY2018: 2.1B Net income, FY2018: 933.4M Revenue, FY2019: 5.3B Gross profit, FY2019: 2.1B Net income, FY2019: 702.7M Revenue, FY2020: 5.6B Gross profit, FY2020: 2.3B Net income, FY2020: 747.4M Revenue, FY2021: 6.3B Gross profit, FY2021: 2.5B Net income, FY2021: 755.3M Revenue, FY2022: 6.4B Gross profit, FY2022: 2.3B Net income, FY2022: 682M Revenue, FY2023: 6.7B Gross profit, FY2023: 2.5B Net income, FY2023: 680.6M Revenue, FY2024: 6.7B Gross profit, FY2024: 2.6B Net income, FY2024: 788.5M Revenue, FY2025: 6.8B Gross profit, FY2025: 2.6B Net income, FY2025: 789.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $4.41B $4.73B $5.30B $5.35B $5.60B $6.32B $6.35B $6.66B $6.72B $6.84B
Gross profit $1.83B $1.79B $2.09B $2.15B $2.30B $2.49B $2.27B $2.50B $2.59B $2.59B
Net income $472.3M $477.4M $933.4M $702.7M $747.4M $755.3M $682.0M $680.6M $788.5M $789.4M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Item 5.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Item 5.02
  • Material agreement signed Item 1.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed Item 1.01
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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