MKCNYSEMiscellaneous Food Preparations & Kindred ProductsFiscal year ends November 30Also trades as MKC.V
MCCORMICK & CO INC
Financials through Q3 FY2026, quarter ended Aug 31, 2026Last filing: 10-Q on Oct 1, 2026
$45.86−0.49 (-1.06%)
Close on Oct 19, 2026
- Market cap
- $12.35B
- P/E (TTM)
- 8.3
- Dividend yield
- 3.92%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
37.9%−3.2 pts over 5 years
Operating margin
15.7%−2.2 pts over 5 years
Net margin
11.5%−1.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +1.7% | +2.5% | +4.1% | +4.8% | |
| Gross profit | +0.0% | +4.5% | +2.4% | +4.1% | |
| Operating income | +1.0% | +7.4% | +1.4% | +6.9% | |
| Net income | +0.1% | +5.0% | +1.1% | +7.0% | |
| EPS, diluted | +0.3% | +5.2% | +1.1% | +6.5% | |
| Free cash flow | +14.4% | +23.9% | -1.9% | +4.8% | |
| Dividend per share | +7.1% | +6.7% | +7.7% | +8.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 20.3% | 14.3% | |
| Return on assets | 10.4% | 6.7% | 6.0% | |
| Current ratio | 1.00 | 0.68 | 0.70 | |
| Debt to equity | – | 1.25 | 0.70 | |
| Net debt to EBITDA | 1.77× | 3.85× | 3.00× | |
| Interest coverage | 11.4× | 7.4× | 5.5× | |
| Inventory turnover | – | 3.6× | 3.4× | |
| Capex to revenue | 3.5% | 4.0% | 3.2% | |
| Diluted shares | 256M | 269M | 269M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Mccormick generated $4.60B from operations and spent $3.58B on capital expenditure, dividends and share buybacks. 36% of that went back into the business.
Generated
$4.60B
Used
$3.58B
Capital expenditure$1.30B36%Dividends$2.11B59%Share buybacks$171.00M5%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin11.5%
×Asset turnover0.52×
×Equity multiplier2.38×
=Return on equity, FY202514.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 11.5% | 0.52× | 2.38× | 14.3% |
| FY2024 | 11.7% | 0.52× | 2.51× | 15.2% |
| FY2023 | 10.2% | 0.51× | 2.67× | 14.0% |
| FY2022 | 10.7% | 0.49× | 2.86× | 15.0% |
| FY2021 | 12.0% | 0.51× | 3.00× | 18.1% |
| FY2020 | 13.3% | 0.50× | 3.05× | 20.3% |
| FY2019 | 13.1% | 0.52× | 3.12× | 21.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$789.40M
- Cash generatingOperating cash flow above zero$962.20M
- Return on assets improvedROA up on the prior year6.1% → 6.0%
- Earnings backed by cashOperating cash flow above net income$962.20M vs $789.40M
- Less leverageLong-term debt to assets fell27.5% → 23.5%
- Better liquidityCurrent ratio rose0.74 → 0.70
- No dilutionShare count did not rise270M → 269M
- Gross margin improvedGross margin up on the prior year38.54% → 37.90%
- More efficientAsset turnover rose0.52 → 0.52