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Mccormick & Co Financials

MKC
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE November

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).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 48 / 100
Financial Profile 48/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
57

Mccormick & Co has an operating margin of 15.7%, meaning the company retains $16 of operating profit per $100 of revenue. This results in a moderate score of 57/100, indicating healthy but not exceptional operating efficiency. This is down from 15.8% the prior year.

Growth
36

Mccormick & Co's revenue grew a modest 1.7% year-over-year to $6.8B. This slow but positive growth earns a score of 36/100.

Leverage
91

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.

Liquidity
8

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.

Cash Flow
52

Mccormick & Co has a free cash flow margin of 10.8%, earning a moderate score of 52/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
42

Mccormick & Co's ROE of 13.8% shows moderate profitability relative to equity, earning a score of 42/100. This is down from 14.9% the prior year.

Altman Z-Score Grey Zone
2.20

Mccormick & Co scores 2.20, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral
5/9

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.

Earnings Quality Cash-Backed
1.22x

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.

Interest Coverage Safe
5.5x

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.

Key Financial Metrics

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Earnings & Revenue

Revenue
$6.8B
YoY+1.7%
5Y CAGR+4.1%
10Y CAGR+4.8%

Mccormick & Co generated $6.8B in revenue in fiscal year 2025. This represents an increase of 1.7% from the prior year.

EBITDA
$1.3B
YoY+2.6%
5Y CAGR+2.3%
10Y CAGR+7.1%

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.

Net Income
$789.4M
YoY+0.1%
5Y CAGR+1.1%
10Y CAGR+7.0%

Mccormick & Co reported $789.4M in net income in fiscal year 2025. This represents an increase of 0.1% from the prior year.

EPS (Diluted)
$2.93
YoY+0.3%
5Y CAGR+1.1%
10Y CAGR-0.6%

Mccormick & Co earned $2.93 per diluted share (EPS) in fiscal year 2025. This represents an increase of 0.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$740.4M
YoY+14.4%
5Y CAGR-1.9%
10Y CAGR+4.8%

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.

Cash & Debt
$95.9M
YoY-48.5%
5Y CAGR-25.7%
10Y CAGR-1.6%

Mccormick & Co held $95.9M in cash against $3.1B in long-term debt as of fiscal year 2025.

Dividends Per Share
$1.83
YoY+7.0%
5Y CAGR+7.6%
10Y CAGR+1.2%

Mccormick & Co paid $1.83 per share in dividends in fiscal year 2025. This represents an increase of 7.0% from the prior year.

Shares Outstanding
N/A

Margins & Returns

Gross Margin
37.9%
YoY-0.6pp
5Y CAGR-3.2pp
10Y CAGR-2.5pp

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.

Operating Margin
15.7%
YoY-0.1pp
5Y CAGR-2.2pp
10Y CAGR+2.9pp

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.

Net Margin
11.5%
YoY-0.2pp
5Y CAGR-1.8pp
10Y CAGR+2.2pp

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.

Return on Equity
13.8%
YoY-1.1pp
5Y CAGR-5.3pp
10Y CAGR-10.1pp

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.

Capital Allocation

R&D Spending
$106.1M
YoY+3.1%
5Y CAGR+9.1%
10Y CAGR+5.7%

Mccormick & Co invested $106.1M in research and development in fiscal year 2025. This represents an increase of 3.1% from the prior year.

Share Buybacks
$34.8M
YoY-34.5%
5Y CAGR-6.0%
10Y CAGR-13.3%

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.

Capital Expenditures
$221.8M
YoY-19.3%
5Y CAGR-0.3%
10Y CAGR+5.6%

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 Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $1.9B+1.3% $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
Cost of Revenue $1.2B+3.1% $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
Gross Profit $708.9M-1.6% $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
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $456.3M+12.7% $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
Operating Income $227.5M-26.9% $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
Interest Expense $47.3M+1.7% $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
Income Tax $48.7M-25.8% $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
Net Income $1.0B+348.5% $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
EPS (Diluted) $3.77 N/A $0.84+29.2% $0.65+8.3% $0.60 N/A $0.83+22.1% $0.68

MKC Balance Sheet

Metric Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $16.3B+23.8% $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
Current Assets $2.6B+22.0% $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
Cash & Equivalents $177.7M+85.3% $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
Inventory $665.4M-47.7% $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
Accounts Receivable $829.2M+31.8% $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
Goodwill $6.3B+19.2% $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
Total Liabilities $8.8B+18.3% $7.4B-0.4% $7.5B-1.3% $7.6B+1.5% $7.5B-3.9% $7.8B0.0% $7.8B+1.6% $7.6B
Current Liabilities $3.4B+12.4% $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
Long-Term Debt $3.6B+16.0% $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
Total Equity $7.0B+21.7% $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
Retained Earnings $4.8B+26.4% $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

MKC Cash Flow Statement

Metric Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow $50.9M-90.6% $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
Capital Expenditures $32.5M-61.2% $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
Free Cash Flow $18.4M-96.0% $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
Investing Cash Flow -$762.4M-818.6% -$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
Financing Cash Flow $781.7M+269.0% -$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
Dividends Paid $128.9M+6.7% $120.8M+0.1% $120.7M-0.1% $120.8M+0.1% $120.7M+7.1% $112.7M-0.2% $112.9M+0.2% $112.7M
Share Buybacks $10.9M+94.6% $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

MKC Financial Ratios

Metric Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin 37.8%-1.1pp 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%
Operating Margin 12.1%-4.7pp 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%
Net Margin 54.2%+42.0pp 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%
Return on Equity 14.6%+10.6pp 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%
Return on Assets 6.2%+4.5pp 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%
Current Ratio 0.76+0.1 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
Debt-to-Equity 0.52-0.0 0.540.0 0.54-0.0 0.55-0.0 0.57-0.1 0.68+0.1 0.620.0 0.62
FCF Margin 1.0%-23.8pp 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%

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

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.

Mccormick & Co (MKC) revenue grew by 1.7% year-over-year, from $6.7B to $6.8B in fiscal year 2025.

Yes, Mccormick & Co (MKC) reported a net income of $789.4M in fiscal year 2025, with a net profit margin of 11.5%.

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.

Mccormick & Co (MKC) had EBITDA of $1.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Mccormick & Co (MKC) had $95.9M in cash and equivalents against $3.1B in long-term debt.

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.

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.

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.

Yes, Mccormick & Co (MKC) paid $1.83 per share in dividends during fiscal year 2025.

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.

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.

Mccormick & Co (MKC) generated $962.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Mccormick & Co (MKC) had $13.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Mccormick & Co (MKC) invested $221.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Mccormick & Co (MKC) invested $106.1M in research and development during fiscal year 2025.

Yes, Mccormick & Co (MKC) spent $34.8M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

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.

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.

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.

Mccormick & Co (MKC) has an Altman Z-Score of 2.20, 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.

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.

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.

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.

Mccormick & Co (MKC) scores 48 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.

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