Mccormick & Co Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Mccormick & Co has an operating margin of 15.7%, meaning the company retains $16 of operating profit per $100 of revenue. This strong profitability earns a score of 78/100, reflecting efficient cost management and pricing power. This is down from 15.8% the prior year.
Mccormick & Co's revenue grew a modest 1.7% year-over-year to $6.8B. This slow but positive growth earns a score of 34/100.
Mccormick & Co carries a low D/E ratio of 0.54, meaning only $0.54 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.
Mccormick & Co's current ratio of 0.70 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 8/100, which could limit financial flexibility.
Mccormick & Co has a free cash flow margin of 10.8%, earning a moderate score of 54/100. The company generates positive cash flow after capital investments, but with room for improvement.
Mccormick & Co's ROE of 13.8% shows moderate profitability relative to equity, earning a score of 55/100. This is down from 14.9% the prior year.
Mccormick & Co scores 2.66, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($19.2B) relative to total liabilities ($7.4B). This signals moderate financial risk that warrants monitoring.
Mccormick & Co passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Mccormick & Co generates $1.22 in operating cash flow ($962.2M OCF vs $789.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Mccormick & Co earns $5.5 in operating income for every $1 of interest expense ($1.1B vs $196.2M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
This page shows Mccormick & Co (MKC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Mccormick & Co generated $6.8B in revenue in fiscal year 2025. This represents an increase of 1.7% from the prior year.
Mccormick & Co's EBITDA was $1.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 2.6% from the prior year.
Mccormick & Co generated $740.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 14.4% from the prior year.
Mccormick & Co reported $789.4M in net income in fiscal year 2025. This represents an increase of 0.1% from the prior year.
Mccormick & Co earned $2.93 per diluted share (EPS) in fiscal year 2025. This represents an increase of 0.3% from the prior year.
Mccormick & Co held $95.9M in cash against $3.1B in long-term debt as of fiscal year 2025.
Mccormick & Co paid $1.83 per share in dividends in fiscal year 2025. This represents an increase of 7.0% from the prior year.
Mccormick & Co's gross margin was 37.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.6 percentage points from the prior year.
Mccormick & Co's operating margin was 15.7% in fiscal year 2025, reflecting core business profitability. This is down 0.1 percentage points from the prior year.
Mccormick & Co's net profit margin was 11.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.2 percentage points from the prior year.
Mccormick & Co's ROE was 13.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.1 percentage points from the prior year.
Mccormick & Co invested $106.1M in research and development in fiscal year 2025. This represents an increase of 3.1% from the prior year.
Mccormick & Co spent $34.8M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 34.5% from the prior year.
Mccormick & Co invested $221.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 19.3% from the prior year.
MKC Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.9B+7.3% | $1.7B+3.9% | $1.7B+3.4% | $1.6B-10.7% | $1.8B+7.0% | $1.7B+2.2% | $1.6B+2.5% | $1.6B |
| Cost of Revenue | $1.1B+4.7% | $1.1B+4.2% | $1.0B+3.5% | $1.0B-6.9% | $1.1B+4.5% | $1.0B+0.6% | $1.0B+2.0% | $1.0B |
| Gross Profit | $720.3M+11.7% | $645.1M+3.6% | $622.8M+3.1% | $604.0M-16.4% | $722.2M+11.1% | $649.9M+4.9% | $619.6M+3.4% | $599.3M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $404.8M+14.8% | $352.5M-3.2% | $364.2M-3.9% | $378.8M-8.6% | $414.4M+14.6% | $361.5M-5.8% | $383.7M+6.1% | $361.6M |
| Operating Income | $311.1M+7.8% | $288.7M+17.5% | $245.8M+9.1% | $225.2M-26.5% | $306.2M+6.9% | $286.5M+22.4% | $234.1M+0.3% | $233.5M |
| Interest Expense | $46.5M-7.4% | $50.2M-1.6% | $51.0M+5.2% | $48.5M-8.0% | $52.7M-1.5% | $53.5M+1.1% | $52.9M+5.2% | $50.3M |
| Income Tax | $65.6M+66.9% | $39.3M-20.3% | $49.3M+18.5% | $41.6M-38.1% | $67.2M+63.9% | $41.0M+56.5% | $26.2M-47.2% | $49.6M |
| Net Income | $226.6M+0.5% | $225.5M+28.9% | $175.0M+7.8% | $162.3M-24.6% | $215.2M-3.5% | $223.1M+21.1% | $184.2M+11.0% | $166.0M |
| EPS (Diluted) | $0.840.0% | $0.84+29.2% | $0.65+8.3% | $0.60-24.1% | $0.79-4.8% | $0.83+22.1% | $0.68+9.7% | $0.62 |
MKC Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $13.2B-0.4% | $13.2B+0.4% | $13.2B+2.3% | $12.9B-1.3% | $13.1B-1.0% | $13.2B+1.7% | $13.0B+0.8% | $12.9B |
| Current Assets | $2.1B-3.9% | $2.2B+2.7% | $2.2B+7.6% | $2.0B-5.9% | $2.1B-4.7% | $2.2B+8.5% | $2.1B+2.4% | $2.0B |
| Cash & Equivalents | $95.9M+1.1% | $94.9M-23.5% | $124.1M+20.7% | $102.8M-44.8% | $186.1M-7.3% | $200.8M+20.7% | $166.3M-6.6% | $178.0M |
| Inventory | $1.3B+93.5% | $657.2M+7.2% | $613.0M+0.8% | $607.9M-51.0% | $1.2B+92.2% | $645.0M+4.3% | $618.4M+7.7% | $574.3M |
| Accounts Receivable | $628.9M-6.0% | $668.7M+14.4% | $584.5M+13.1% | $516.9M-12.0% | $587.4M-11.1% | $660.9M+10.4% | $598.5M+5.5% | $567.5M |
| Goodwill | $5.3B-0.2% | $5.3B+0.4% | $5.3B+1.6% | $5.2B-0.4% | $5.2B-1.0% | $5.3B+0.4% | $5.3B+0.1% | $5.3B |
| Total Liabilities | $7.4B-0.4% | $7.5B-1.3% | $7.6B+1.5% | $7.5B-3.9% | $7.8B0.0% | $7.8B+1.6% | $7.6B0.0% | $7.6B |
| Current Liabilities | $3.1B-1.9% | $3.1B-2.1% | $3.2B+2.7% | $3.1B+7.6% | $2.9B-8.3% | $3.1B+5.4% | $3.0B+0.4% | $3.0B |
| Long-Term Debt | $3.1B0.0% | $3.1B+0.2% | $3.1B+0.1% | $3.1B-13.9% | $3.6B+7.5% | $3.3B+0.5% | $3.3B-0.1% | $3.3B |
| Total Equity | $5.7B-0.3% | $5.8B+2.7% | $5.6B+3.3% | $5.4B+2.5% | $5.3B-2.4% | $5.4B+1.8% | $5.3B+1.8% | $5.2B |
| Retained Earnings | $3.8B-0.7% | $3.8B+2.8% | $3.7B+1.2% | $3.7B+4.2% | $3.5B-0.9% | $3.6B+2.8% | $3.5B+2.0% | $3.4B |
MKC Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $542.0M+109.4% | $258.8M+463.8% | $45.9M-60.3% | $115.5M-74.8% | $458.7M+183.7% | $161.7M-0.9% | $163.1M+17.8% | $138.4M |
| Capital Expenditures | $83.7M+58.8% | $52.7M+9.1% | $48.3M+30.2% | $37.1M-56.7% | $85.6M+45.1% | $59.0M-13.6% | $68.3M+10.2% | $62.0M |
| Free Cash Flow | $458.3M+122.4% | $206.1M+8687.5% | -$2.4M-103.1% | $78.4M-79.0% | $373.1M+263.3% | $102.7M+8.3% | $94.8M+24.1% | $76.4M |
| Investing Cash Flow | -$83.0M-23.9% | -$67.0M+1.6% | -$68.1M-83.6% | -$37.1M+53.6% | -$79.9M-35.4% | -$59.0M+13.6% | -$68.3M-10.5% | -$61.8M |
| Financing Cash Flow | -$462.6M-96.5% | -$235.4M-2013.8% | $12.3M+107.9% | -$155.2M+58.9% | -$377.2M-1019.3% | -$33.7M+67.8% | -$104.5M-54.4% | -$67.7M |
| Dividends Paid | $120.8M+0.1% | $120.7M-0.1% | $120.8M+0.1% | $120.7M+7.1% | $112.7M-0.2% | $112.9M+0.2% | $112.7M0.0% | $112.7M |
| Share Buybacks | $5.6M+107.4% | $2.7M-71.0% | $9.3M-45.9% | $17.2M-28.6% | $24.1M-1.6% | $24.5M+483.3% | $4.2M+1300.0% | $300K |
MKC Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.9%+1.5pp | 37.4%-0.1pp | 37.5%-0.1pp | 37.6%-2.6pp | 40.2%+1.5pp | 38.7%+1.0pp | 37.7%+0.3pp | 37.4% |
| Operating Margin | 16.8%+0.1pp | 16.7%+1.9pp | 14.8%+0.8pp | 14.0%-3.0pp | 17.0%-0.0pp | 17.1%+2.8pp | 14.2%-0.3pp | 14.6% |
| Net Margin | 12.3%-0.8pp | 13.1%+2.5pp | 10.5%+0.4pp | 10.1%-1.9pp | 12.0%-1.3pp | 13.3%+2.1pp | 11.2%+0.9pp | 10.4% |
| Return on Equity | 4.0%+0.0pp | 3.9%+0.8pp | 3.1%+0.1pp | 3.0%-1.1pp | 4.1%-0.1pp | 4.1%+0.7pp | 3.5%+0.3pp | 3.2% |
| Return on Assets | 1.7%+0.0pp | 1.7%+0.4pp | 1.3%+0.1pp | 1.3%-0.4pp | 1.7%-0.0pp | 1.7%+0.3pp | 1.4%+0.1pp | 1.3% |
| Current Ratio | 0.70-0.0 | 0.71+0.0 | 0.68+0.0 | 0.65-0.1 | 0.74+0.0 | 0.71+0.0 | 0.69+0.0 | 0.68 |
| Debt-to-Equity | 0.540.0 | 0.54-0.0 | 0.55-0.0 | 0.57-0.1 | 0.68+0.1 | 0.620.0 | 0.62-0.0 | 0.64 |
| FCF Margin | 24.8%+12.8pp | 11.9%+12.1pp | -0.1%-5.0pp | 4.9%-15.9pp | 20.8%+14.6pp | 6.1%+0.3pp | 5.8%+1.0pp | 4.8% |
Note: The current ratio is below 1.0 (0.70), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Mccormick & Co's annual revenue?
Mccormick & Co (MKC) reported $6.8B in total revenue for fiscal year 2025. This represents a 1.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Mccormick & Co's revenue growing?
Mccormick & Co (MKC) revenue grew by 1.7% year-over-year, from $6.7B to $6.8B in fiscal year 2025.
Is Mccormick & Co profitable?
Yes, Mccormick & Co (MKC) reported a net income of $789.4M in fiscal year 2025, with a net profit margin of 11.5%.
What is Mccormick & Co's earnings per share (EPS)?
Mccormick & Co (MKC) reported diluted earnings per share of $2.93 for fiscal year 2025. This represents a 0.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Mccormick & Co's EBITDA?
Mccormick & Co (MKC) had EBITDA of $1.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Mccormick & Co have?
As of fiscal year 2025, Mccormick & Co (MKC) had $95.9M in cash and equivalents against $3.1B in long-term debt.
What is Mccormick & Co's gross margin?
Mccormick & Co (MKC) had a gross margin of 37.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Mccormick & Co's operating margin?
Mccormick & Co (MKC) had an operating margin of 15.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Mccormick & Co's net profit margin?
Mccormick & Co (MKC) had a net profit margin of 11.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Mccormick & Co pay dividends?
Yes, Mccormick & Co (MKC) paid $1.83 per share in dividends during fiscal year 2025.
What is Mccormick & Co's return on equity (ROE)?
Mccormick & Co (MKC) has a return on equity of 13.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Mccormick & Co's free cash flow?
Mccormick & Co (MKC) generated $740.4M in free cash flow during fiscal year 2025. This represents a 14.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Mccormick & Co's operating cash flow?
Mccormick & Co (MKC) generated $962.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Mccormick & Co's total assets?
Mccormick & Co (MKC) had $13.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Mccormick & Co's capital expenditures?
Mccormick & Co (MKC) invested $221.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Mccormick & Co spend on research and development?
Mccormick & Co (MKC) invested $106.1M in research and development during fiscal year 2025.
Does Mccormick & Co buy back shares?
Yes, Mccormick & Co (MKC) spent $34.8M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
What is Mccormick & Co's current ratio?
Mccormick & Co (MKC) had a current ratio of 0.70 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Mccormick & Co's debt-to-equity ratio?
Mccormick & Co (MKC) had a debt-to-equity ratio of 0.54 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Mccormick & Co's return on assets (ROA)?
Mccormick & Co (MKC) had a return on assets of 6.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Mccormick & Co's Altman Z-Score?
Mccormick & Co (MKC) has an Altman Z-Score of 2.66, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Mccormick & Co's Piotroski F-Score?
Mccormick & Co (MKC) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Mccormick & Co's earnings high quality?
Mccormick & Co (MKC) has an earnings quality ratio of 1.22x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Mccormick & Co cover its interest payments?
Mccormick & Co (MKC) has an interest coverage ratio of 5.5x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Mccormick & Co?
Mccormick & Co (MKC) scores 53 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.