McCormick & Company, Incorporated (MKC) Financials

$74.56 -0.45 (-0.60%)

Closing price 03:59 PM Eastern

Extended Trading

$74.54 -0.02 (-0.02%)

As of 05:49 PM Eastern

Annual Income Statements for McCormick & Company, Incorporated

This table shows McCormick & Company, Incorporated's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	767	909	477	933	703	747	1,458	1,326	1,305	1,503
Consolidated Net Income / (Loss)	402	472	477	933	703	747	755	682	681	789
Net Income / (Loss) Continuing Operations	402	472	477	933	703	747	755	682	681	789
Total Pre-Tax Income	496	589	595	741	819	882	896	813	799	898
Total Operating Income	548	641	700	891	958	1,000	1,015	864	963	1,060
Total Gross Profit	1,737	1,832	1,794	2,093	2,145	2,300	2,495	2,275	2,503	2,591
Total Revenue	4,296	4,412	4,730	5,303	5,347	5,601	6,318	6,351	6,662	6,724
Operating Revenue	4,296	4,412	4,730	5,303	5,347	5,601	6,318	6,351	6,662	6,724
Total Cost of Revenue	2,559	2,580	2,936	3,210	3,202	3,301	3,823	4,076	4,160	4,133
Operating Cost of Revenue	2,559	2,580	2,936	3,210	3,202	3,301	3,823	4,076	4,160	4,133
Total Operating Expenses	1,189	1,191	1,094	1,202	1,188	1,301	1,480	1,411	1,540	1,531
Selling, General & Admin Expense	1,127	1,175	1,031	1,163	1,167	1,282	1,404	1,357	1,478	1,521
Restructuring Charge	0.00	0.00	41	23	0.00	12	29	2.20	0.00	0.00
Other Special Charges / (Income)	62	16	22	16	21	6.90	46	52	61	9.50
Total Other Income / (Expense), net	-52	-52	-105	-150	-139	-118	-119	-51	-164	-162
Interest Expense	53	56	96	175	165	136	137	149	208	209
Other Income / (Expense), net	1.10	4.20	-9.30	25	27	18	17	98	44	47
Income Tax Expense	131	153	151	-157	157	175	193	169	175	184
Other Gains / (Losses), net	37	36	34	35	41	41	52	38	56	74
Net Income / (Loss) Attributable to Noncontrolling Interest	-365	-436	-	-	-	-	-703	-644	-624	-714
Basic Earnings per Share	$3.14	$3.73	$3.77	$3.55	$2.65	$2.80	$2.83	$2.54	$2.54	$2.94
Weighted Average Basic Shares Outstanding	128M	126.60M	126.80M	131.50M	132.91M	266.94M	267.53M	268.10M	268.24M	268.15M
Diluted Earnings per Share	$3.11	$3.69	$3.72	$3.50	$2.62	$2.78	$2.80	$2.52	$2.52	$2.92
Weighted Average Diluted Shares Outstanding	128M	126.60M	126.80M	131.50M	132.91M	266.94M	267.53M	268.10M	268.24M	268.15M
Weighted Average Basic & Diluted Shares Outstanding	128M	126.60M	126.80M	131.50M	132.91M	266.94M	267.53M	268.10M	268.24M	268.15M
Cash Dividends to Common per Share	$1.60	$1.72	$1.88	$2.08	$2.28	$1.24	$1.36	$1.48	$1.56	$1.68

This table shows McCormick & Company, Incorporated's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Net Income / (Loss) Attributable to Common Shareholders	223	830	139	152	327	687	166	184	428	724	307
Consolidated Net Income / (Loss)	223	186	139	152	170	219	166	184	223	215	162
Net Income / (Loss) Continuing Operations	223	186	139	152	170	219	166	184	223	215	162
Total Pre-Tax Income	275	228	160	182	199	258	194	194	246	264	187
Total Operating Income	235	264	199	222	245	297	234	234	287	306	225
Total Gross Profit	567	624	563	616	623	701	599	620	650	722	604
Total Revenue	1,596	1,696	1,566	1,659	1,685	1,753	1,603	1,643	1,680	1,798	1,606
Operating Revenue	1,596	1,696	1,566	1,659	1,685	1,753	1,603	1,643	1,680	1,798	1,606
Total Cost of Revenue	1,029	1,071	1,003	1,044	1,062	1,052	1,003	1,024	1,030	1,076	1,002
Operating Cost of Revenue	1,029	1,071	1,003	1,044	1,062	1,052	1,003	1,024	1,030	1,076	1,002
Total Operating Expenses	332	360	364	394	378	404	366	386	363	416	379
Selling, General & Admin Expense	328	347	336	381	372	390	362	384	362	414	379
Other Special Charges / (Income)	3.40	14	28	13	6.10	14	4.20	1.80	1.90	1.60	0.00
Total Other Income / (Expense), net	40	-36	-40	-40	-46	-40	-39	-41	-40	-42	-39
Interest Expense	38	44	51	52	53	53	50	53	54	53	49
Other Income / (Expense), net	77	8.40	11	13	7.10	13	11	12	13	11	9.80
Income Tax Expense	59	53	34	40	43	57	50	26	41	67	42
Other Gains / (Losses), net	7.50	11	14	10	13	19	21	17	18	18	17
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-157	-	-	-	-205	-	-145
Basic Earnings per Share	$0.83	$3.10	$0.52	$0.57	$0.63	$0.82	$0.62	$0.69	$0.83	$0.80	$0.60
Weighted Average Basic Shares Outstanding	268.30M	268.10M	268.20M	268.40M	268.40M	268.24M	268.40M	268.60M	268.60M	268.15M	268.30M
Diluted Earnings per Share	$0.82	$3.10	$0.52	$0.56	$0.63	$0.81	$0.62	$0.68	$0.83	$0.79	$0.60
Weighted Average Diluted Shares Outstanding	270.20M	268.10M	269.80M	269.80M	270.10M	268.24M	269.60M	269.70M	269.70M	268.15M	269.50M
Weighted Average Basic & Diluted Shares Outstanding	268.21M	268.10M	268.23M	268.33M	268.33M	268.24M	268.41M	268.63M	268.36M	268.15M	268.19M
Cash Dividends to Common per Share	$0.74	$0.37	$0.39	$0.78	$0.78	-	$0.42	$0.42	$0.84	-	$0.45

This table details how cash moves in and out of McCormick & Company, Incorporated's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	35	5.80	68	-88	50	268	-72	-18	-167	20
Net Cash From Operating Activities	590	658	815	821	947	1,041	828	652	1,237	922
Net Cash From Continuing Operating Activities	590	658	815	821	947	1,041	828	652	1,237	922
Net Income / (Loss) Continuing Operations	402	472	477	933	703	747	755	682	681	789
Consolidated Net Income / (Loss)	402	472	477	933	703	747	755	682	681	789
Depreciation Expense	106	109	125	151	159	165	186	201	199	209
Non-Cash Adjustments To Reconcile Net Income	46	36	55	-294	26	38	67	2.80	94	38
Changes in Operating Assets and Liabilities, net	37	42	158	31	59	91	-187	-234	264	-113
Net Cash From Investing Activities	-339	-267	-4,508	-159	-171	-1,026	-909	-146	-261	-269
Net Cash From Continuing Investing Activities	-339	-267	-4,508	-159	-171	-1,026	-909	-146	-261	-269
Purchase of Property, Plant & Equipment	-128	-154	-182	-169	-174	-225	-278	-262	-264	-275
Divestitures	0.00	4.20	-	-	0.00	0.00	65	109	1.00	0.00
Other Investing Activities, net	0.00	1.40	1.50	15	2.70	2.70	10	6.80	2.40	5.90
Net Cash From Financing Activities	-200	-372	3,756	-751	-726	221	22	-487	-1,184	-583
Net Cash From Continuing Financing Activities	-200	-372	3,756	-751	-726	221	22	-487	-1,184	-583
Repayment of Debt	-129	-202	-415	-798	-448	28	-606	-74	-1,232	-583
Repurchase of Common Equity	-146	-243	-138	-62	-95	-47	-8.60	-39	-36	-53
Payment of Dividends	-205	-218	-238	-286	-302	-330	-363	-397	-419	-451
Issuance of Debt	247	258	3,990	331	41	527	1,002	0.00	496	496
Other Financing Activities, net	33	33	2.80	64	78	44	-1.90	22	5.80	8.50
Effect of Exchange Rate Changes	-16	-14	5.40	-	-	32	-14	-36	40	-50

This table details how cash moves in and out of McCormick & Company, Incorporated's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Net Change in Cash & Equivalents	18	-9.90	23	-229	27	12	11	-12	35	-15	-83
Net Cash From Operating Activities	96	401	103	291	266	577	138	163	162	459	116
Net Cash From Continuing Operating Activities	96	401	103	291	266	577	138	163	162	459	116
Net Income / (Loss) Continuing Operations	223	186	139	152	170	219	166	184	223	215	162
Consolidated Net Income / (Loss)	223	186	139	152	170	219	166	184	223	215	162
Depreciation Expense	50	52	48	49	54	49	46	57	55	51	54
Non-Cash Adjustments To Reconcile Net Income	-36	6.30	12	38	14	30	17	20	3.30	-2.60	11
Changes in Operating Assets and Liabilities, net	-142	157	-95	52	28	279	-90	-99	-119	195	-112
Net Cash From Investing Activities	34	-91	-62	-55	-69	-76	-62	-68	-59	-80	-37
Net Cash From Continuing Investing Activities	34	-91	-62	-55	-69	-76	-62	-68	-59	-80	-37
Purchase of Property, Plant & Equipment	-65	-95	-62	-57	-69	-77	-62	-68	-59	-86	-37
Other Investing Activities, net	2.20	4.30	0.00	2.50	-0.10	-	0.20	-	-	5.70	0.00
Net Cash From Financing Activities	-92	-314	-45	-473	-183	-483	-68	-105	-34	-377	-155
Net Cash From Continuing Financing Activities	-92	-314	-45	-473	-183	-483	-68	-105	-34	-377	-155
Repayment of Debt	17	-203	-3.60	-783	-75	-370	-12	68	101	-741	8.60
Repurchase of Common Equity	-13	-13	-3.50	-15	-8.10	-9.00	-0.30	-4.20	-25	-24	-17
Payment of Dividends	-99	-99	-105	-105	-105	-105	-113	-113	-113	-113	-121
Issuance of Debt	-	-	68	429	-	-	57	-57	-	496	-26
Other Financing Activities, net	3.80	1.50	-0.90	1.20	4.80	0.70	-0.50	2.00	2.40	4.60	0.00
Other Net Changes in Cash	-	-	26	-	-	-	2.50	-	-	-	-6.50

This table presents McCormick & Company, Incorporated's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	4,473	1,187	10,386	10,256	10,362	12,090	12,906	13,125	12,862	13,070
Total Current Assets	1,357	838	1,617	1,480	1,550	2,084	2,196	2,387	2,002	2,139
Cash & Equivalents	113	-	187	97	155	424	352	334	167	186
Accounts Receivable	455	-	555	518	503	529	550	574	588	587
Inventories, net	711	756	793	786	801	1,033	1,182	1,340	1,127	1,240
Prepaid Expenses	79	82	82	79	91	99	112	139	121	126
Plant, Property, & Equipment, net	618	0.00	809	942	953	1,028	1,140	1,198	1,325	1,413
Total Noncurrent Assets	2,497	348	7,960	7,835	7,859	8,978	9,570	9,540	9,536	9,518
Long-Term Investments	365	348	399	434	507	752	781	939	919	972
Goodwill	1,759	-	4,490	4,528	4,505	4,986	5,336	5,213	5,260	5,228
Intangible Assets	372	-	3,071	2,873	2,847	3,239	3,453	3,388	3,357	3,319
Total Liabilities & Shareholders' Equity	4,473	1,164	10,386	10,256	10,362	12,090	12,906	13,125	12,862	13,070
Total Liabilities	2,786	80	7,815	7,074	6,905	8,150	8,480	8,426	7,779	7,754
Total Current Liabilities	1,239	0.00	1,947	2,002	2,154	3,047	3,224	3,432	3,099	2,883
Short-Term Debt	343	-	583	644	698	1,151	1,309	1,507	1,072	748
Accounts Payable	412	-	640	710	847	1,032	1,064	1,171	1,119	1,238
Accrued Expenses	484	-	724	648	609	864	850	754	908	896
Total Noncurrent Liabilities	1,547	80	5,868	5,073	4,751	5,103	5,257	4,993	4,680	4,871
Long-Term Debt	1,051	-	4,444	4,053	3,626	3,754	3,973	3,642	3,340	3,594
Noncurrent Deferred & Payable Income Tax Liabilities	-	80	1,095	707	698	727	792	866	861	841
Other Noncurrent Operating Liabilities	496	-	329	313	428	622	491	485	479	437
Total Equity & Noncontrolling Interests	1,687	1,084	2,571	3,182	3,457	3,940	4,426	4,699	5,084	5,317
Total Preferred & Common Equity	1,670	1,084	2,560	3,171	3,444	3,926	4,411	4,681	5,061	5,291
Total Common Equity	1,670	1,084	2,560	3,171	3,444	3,926	4,411	4,681	5,061	5,291
Common Stock	1,040	1,084	1,673	1,771	1,889	1,981	2,055	2,139	2,200	2,237
Retained Earnings	1,037	-	1,167	1,760	2,056	2,416	2,782	3,023	3,250	3,545
Accumulated Other Comprehensive Income / (Loss)	-406	-	-280	-360	-500	-471	-427	-481	-389	-491
Noncontrolling Interest	17	-	11	11	13	14	15	19	23	26

This table presents McCormick & Company, Incorporated's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Total Assets	12,941	13,125	13,205	12,908	12,990	12,862	12,890	12,988	13,205	13,070	12,900
Total Current Assets	2,413	2,387	2,411	2,104	2,128	2,002	2,020	2,069	2,244	2,139	2,013
Cash & Equivalents	344	334	357	127	155	167	178	166	201	186	103
Accounts Receivable	566	574	571	557	625	588	568	599	661	587	517
Inventories, net	1,380	1,340	1,345	1,276	1,226	1,127	1,130	1,158	1,243	1,240	1,246
Prepaid Expenses	124	139	139	143	123	121	145	146	140	126	147
Plant, Property, & Equipment, net	1,139	1,198	1,225	1,250	1,286	1,325	1,355	1,366	1,400	1,413	1,393
Total Noncurrent Assets	9,389	9,540	9,569	9,555	9,577	9,536	9,515	9,552	9,561	9,518	9,494
Long-Term Investments	783	939	958	947	960	919	915	956	951	972	980
Goodwill	5,210	5,213	5,230	5,235	5,252	5,260	5,254	5,257	5,278	5,228	5,206
Intangible Assets	3,397	3,388	3,382	3,372	3,364	3,357	3,347	3,339	3,333	3,319	3,308
Total Liabilities & Shareholders' Equity	12,941	13,125	13,205	12,908	12,990	12,862	12,890	12,988	13,205	13,070	12,900
Total Liabilities	8,334	8,426	8,318	7,951	7,920	7,779	7,633	7,633	7,754	7,754	7,450
Total Current Liabilities	3,140	3,432	3,321	2,487	3,171	3,099	2,974	2,984	3,144	2,883	3,102
Short-Term Debt	1,457	1,507	1,586	746	1,392	1,072	1,128	1,139	1,245	748	1,212
Accounts Payable	1,144	1,171	1,124	1,100	1,100	1,119	1,133	1,210	1,228	1,238	1,162
Accrued Expenses	540	754	611	641	679	908	713	635	672	896	728
Total Noncurrent Liabilities	5,194	4,993	4,997	5,464	4,749	4,680	4,659	4,649	4,610	4,871	4,348
Long-Term Debt	3,905	3,642	3,620	4,118	3,385	3,340	3,329	3,326	3,343	3,594	3,096
Noncurrent Deferred & Payable Income Tax Liabilities	816	866	867	863	865	861	858	851	836	841	830
Other Noncurrent Operating Liabilities	473	485	510	484	499	479	472	472	430	437	423
Total Equity & Noncontrolling Interests	4,607	4,699	4,888	4,957	5,070	5,084	5,257	5,354	5,451	5,317	5,450
Total Preferred & Common Equity	4,589	4,681	4,870	4,937	5,049	5,061	5,233	5,327	5,422	5,291	5,423
Total Common Equity	4,589	4,681	4,870	4,937	5,049	5,061	5,233	5,327	5,422	5,291	5,423
Common Stock	2,131	2,139	2,152	2,177	2,192	2,200	2,213	2,235	2,235	2,237	2,253
Retained Earnings	3,048	3,023	3,155	3,191	3,252	3,250	3,413	3,480	3,577	3,545	3,694
Accumulated Other Comprehensive Income / (Loss)	-590	-481	-437	-432	-394	-389	-394	-388	-390	-491	-525
Noncontrolling Interest	17	19	18	20	21	23	25	27	30	26	27

This table displays calculated financial ratios and metrics derived from McCormick & Company, Incorporated's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.25%	2.68%	7.23%	12.10%	0.84%	4.75%	12.79%	0.52%	4.91%	0.92%
EBITDA Growth	-7.27%	15.03%	8.20%	30.76%	7.18%	3.40%	3.63%	-5.10%	3.76%	9.14%
EBIT Growth	-9.04%	17.42%	7.02%	32.64%	7.48%	3.32%	1.50%	-6.83%	4.68%	10.01%
NOPAT Growth	-9.23%	17.67%	9.96%	107.02%	-28.37%	3.55%	-0.56%	-14.09%	9.96%	12.03%
Net Income Growth	-8.29%	17.60%	1.08%	95.52%	-24.72%	6.36%	1.06%	-9.70%	-0.21%	15.85%
EPS Growth	-6.89%	18.65%	0.81%	95.52%	-24.72%	6.36%	0.72%	-10.00%	0.00%	15.87%
Operating Cash Flow Growth	17.16%	11.54%	23.89%	0.72%	15.29%	9.98%	-20.46%	-21.34%	89.92%	-25.49%
Free Cash Flow Firm Growth	-8.12%	388.75%	-347.14%	112.99%	34.75%	-75.01%	-143.69%	724.45%	34.31%	-18.22%
Invested Capital Growth	-2.67%	-70.87%	824.79%	4.78%	-3.13%	7.73%	11.82%	0.00%	-1.94%	1.09%
Revenue Q/Q Growth	0.66%	0.57%	3.50%	1.55%	0.32%	1.32%	2.81%	-0.54%	0.86%	0.68%
EBITDA Q/Q Growth	2.31%	1.10%	5.21%	5.31%	0.48%	-2.18%	0.62%	-0.31%	2.92%	0.68%
EBIT Q/Q Growth	2.27%	1.41%	4.73%	5.81%	0.39%	-2.55%	0.15%	-0.91%	3.89%	0.59%
NOPAT Q/Q Growth	0.22%	1.09%	8.90%	2.47%	-0.53%	-1.72%	0.19%	-1.38%	3.97%	-0.38%
Net Income Q/Q Growth	0.30%	1.77%	3.99%	4.28%	-0.09%	-1.67%	-0.44%	-1.69%	5.19%	-0.52%
EPS Q/Q Growth	0.32%	2.22%	3.05%	4.28%	-0.09%	-1.67%	-1.41%	-51.63%	-53.25%	-0.68%
Operating Cash Flow Q/Q Growth	8.38%	10.46%	27.65%	-8.89%	2.16%	-3.49%	5.18%	-7.65%	16.56%	-11.39%
Free Cash Flow Firm Q/Q Growth	17.93%	394.11%	-1,296.39%	111.35%	5.59%	-76.95%	87.73%	-3.83%	10.28%	8.73%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-3.52%	-4.37%	6.94%	-3.21%	-3.01%	-3.70%	-4.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	40.44%	41.52%	37.93%	39.48%	40.12%	41.07%	39.48%	35.82%	37.56%	38.54%
EBITDA Margin	15.26%	17.09%	17.24%	20.11%	21.38%	21.10%	19.39%	18.31%	18.11%	19.58%
Operating Margin	12.76%	14.53%	14.79%	16.80%	17.91%	17.84%	16.07%	13.60%	14.45%	15.77%
EBIT Margin	12.79%	14.63%	14.60%	17.27%	18.41%	18.16%	16.34%	15.15%	15.11%	16.47%
Profit (Net Income) Margin	9.35%	10.71%	10.09%	17.60%	13.14%	13.34%	11.95%	10.74%	10.22%	11.73%
Tax Burden Percent	80.94%	80.16%	80.26%	125.91%	85.78%	84.79%	84.32%	83.91%	85.21%	87.78%
Interest Burden Percent	90.30%	91.32%	86.14%	80.94%	83.22%	86.67%	86.77%	84.50%	79.32%	81.10%
Effective Tax Rate	26.46%	25.97%	25.44%	-21.22%	19.21%	19.84%	21.51%	20.74%	21.85%	20.48%
Return on Invested Capital (ROIC)	15.28%	28.23%	13.43%	15.04%	10.70%	10.84%	9.81%	7.98%	8.86%	9.97%
ROIC Less NNEP Spread (ROIC-NNEP)	15.09%	27.47%	11.27%	11.63%	8.88%	9.38%	8.76%	7.92%	6.86%	8.29%
Return on Net Nonoperating Assets (RNNOA)	7.69%	5.85%	12.69%	17.41%	10.47%	9.37%	8.25%	6.97%	5.05%	5.19%
Return on Equity (ROE)	22.97%	34.09%	26.12%	32.45%	21.17%	20.21%	18.06%	14.95%	13.91%	15.16%
Cash Return on Invested Capital (CROIC)	17.98%	138.00%	-147.54%	10.37%	13.87%	3.39%	-1.35%	7.98%	10.82%	8.89%
Operating Return on Assets (OROA)	12.37%	22.80%	11.93%	8.87%	9.55%	9.06%	8.26%	7.39%	7.75%	8.54%
Return on Assets (ROA)	9.04%	16.69%	8.25%	9.04%	6.82%	6.66%	6.04%	5.24%	5.24%	6.08%
Return on Common Equity (ROCE)	22.75%	33.88%	26.04%	32.32%	21.09%	20.14%	18.00%	14.89%	13.86%	15.09%
Return on Equity Simple (ROE_SIMPLE)	24.05%	43.56%	18.65%	29.44%	20.40%	19.04%	17.12%	14.57%	13.45%	14.90%
Net Operating Profit after Tax (NOPAT)	403	475	522	1,080	774	801	797	684	753	843
NOPAT Margin	9.39%	10.76%	11.03%	20.37%	14.47%	14.30%	12.61%	10.78%	11.30%	12.54%
Net Nonoperating Expense Percent (NNEP)	0.19%	0.76%	2.16%	3.41%	1.81%	1.46%	1.05%	0.06%	2.00%	1.68%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	6.95%	7.93%	8.73%
Cost of Revenue to Revenue	59.56%	58.48%	62.07%	60.52%	59.88%	58.93%	60.52%	64.18%	62.44%	61.46%
SG&A Expenses to Revenue	26.24%	26.63%	21.80%	21.94%	21.82%	22.88%	22.22%	21.37%	22.19%	22.62%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	27.67%	26.99%	23.13%	22.67%	22.21%	23.23%	23.42%	22.22%	23.11%	22.77%
Earnings before Interest and Taxes (EBIT)	550	645	691	916	984	1,017	1,032	962	1,007	1,108
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	655	754	816	1,067	1,143	1,182	1,225	1,163	1,206	1,317
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.71	9.35	4.70	5.70	6.07	5.99	4.98	4.65	3.34	3.95
Price to Tangible Book Value (P/TBV)	0.00	9.35	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.22	2.30	2.54	3.41	3.91	4.20	3.48	3.43	2.54	3.11
Price to Earnings (P/E)	12.44	11.16	25.21	19.38	29.76	31.48	15.07	16.41	12.95	13.92
Dividend Yield	2.15%	2.14%	2.05%	1.51%	1.45%	1.41%	1.65%	1.82%	2.48%	2.16%
Earnings Yield	8.04%	8.96%	3.97%	5.16%	3.36%	3.18%	6.64%	6.09%	7.72%	7.18%
Enterprise Value to Invested Capital (EV/IC)	4.02	12.91	2.35	3.03	3.45	3.56	3.05	2.99	2.41	2.84
Enterprise Value to Revenue (EV/Rev)	2.44	2.22	3.49	4.20	4.60	4.87	4.14	4.04	3.04	3.59
Enterprise Value to EBITDA (EV/EBITDA)	15.97	12.99	20.22	20.88	21.50	23.07	21.34	22.07	16.79	18.33
Enterprise Value to EBIT (EV/EBIT)	19.05	15.18	23.88	24.31	24.97	26.81	25.32	26.67	20.11	21.78
Enterprise Value to NOPAT (EV/NOPAT)	25.95	20.64	31.60	20.61	31.78	34.03	32.81	37.49	26.91	28.62
Enterprise Value to Operating Cash Flow (EV/OCF)	17.74	14.88	20.23	27.11	25.97	26.19	31.56	39.38	16.37	26.17
Enterprise Value to Free Cash Flow (EV/FCFF)	22.05	4.22	0.00	29.90	24.50	108.73	0.00	37.50	22.04	32.11
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.83	0.00	1.96	1.48	1.25	1.24	1.19	1.10	0.87	0.82
Long-Term Debt to Equity	0.62	0.00	1.73	1.27	1.05	0.95	0.90	0.78	0.66	0.68
Financial Leverage	0.51	0.21	1.13	1.50	1.18	1.00	0.94	0.88	0.74	0.63
Leverage Ratio	2.54	2.04	3.17	3.59	3.11	3.04	2.99	2.85	2.66	2.49
Compound Leverage Factor	2.30	1.87	2.73	2.90	2.58	2.63	2.59	2.41	2.11	2.02
Debt to Total Capital	45.25%	0.00%	66.16%	59.61%	55.57%	55.45%	54.41%	52.29%	46.46%	44.95%
Short-Term Debt to Total Capital	11.13%	0.00%	7.68%	8.17%	8.98%	13.01%	13.49%	15.30%	11.29%	7.75%
Long-Term Debt to Total Capital	34.12%	0.00%	58.49%	51.44%	46.60%	42.44%	40.93%	36.98%	35.18%	37.21%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.54%	0.00%	0.14%	0.14%	0.16%	0.16%	0.15%	0.19%	0.24%	0.27%
Common Equity to Total Capital	54.20%	100.00%	33.69%	40.25%	44.26%	44.39%	45.44%	47.52%	53.30%	54.78%
Debt to EBITDA	2.13	0.00	6.16	4.40	3.78	4.15	4.31	4.43	3.66	3.30
Net Debt to EBITDA	1.40	0.00	5.45	3.91	3.20	3.15	3.39	3.33	2.76	2.42
Long-Term Debt to EBITDA	1.60	0.00	5.45	3.80	3.17	3.18	3.24	3.13	2.77	2.73
Debt to NOPAT	3.46	0.00	9.63	4.35	5.59	6.12	6.63	7.52	5.86	5.15
Net Debt to NOPAT	2.27	0.00	8.51	3.86	4.73	4.65	5.21	5.66	4.42	3.78
Long-Term Debt to NOPAT	2.61	0.00	8.52	3.75	4.69	4.69	4.99	5.32	4.44	4.26
Altman Z-Score	3.78	82.51	1.72	2.53	2.85	2.66	2.51	2.50	2.33	2.72
Noncontrolling Interest Sharing Ratio	0.97%	0.60%	0.30%	0.39%	0.36%	0.36%	0.34%	0.36%	0.42%	0.47%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.10	0.00	0.83	0.74	0.72	0.68	0.68	0.70	0.65	0.74
Quick Ratio	0.46	0.00	0.38	0.31	0.31	0.31	0.28	0.26	0.24	0.27
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	475	2,320	-5,733	745	1,003	251	-110	684	919	752
Operating Cash Flow to CapEx	460.94%	432.68%	446.98%	485.63%	545.08%	462.18%	297.95%	248.66%	468.85%	335.36%
Free Cash Flow to Firm to Interest Expense	8.90	41.42	-59.90	4.27	6.07	1.85	-0.80	4.59	4.41	3.59
Operating Cash Flow to Interest Expense	11.07	11.75	8.52	4.70	5.73	7.68	6.06	4.37	5.94	4.40
Operating Cash Flow Less CapEx to Interest Expense	8.67	9.04	6.61	3.73	4.68	6.02	4.03	2.61	4.68	3.09
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.97	1.56	0.82	0.51	0.52	0.50	0.51	0.49	0.51	0.52
Accounts Receivable Turnover	9.06	0.00	0.00	9.88	10.47	10.86	11.72	11.31	11.47	11.45
Inventory Turnover	3.59	3.52	3.79	4.06	4.03	3.60	3.45	3.23	3.37	3.49
Fixed Asset Turnover	7.04	0.00	0.00	6.06	5.65	5.66	5.83	5.43	5.28	4.91
Accounts Payable Turnover	6.53	0.00	0.00	4.76	4.11	3.51	3.65	3.65	3.63	3.51
Days Sales Outstanding (DSO)	40.30	0.00	0.00	36.94	34.85	33.60	31.14	32.28	31.81	31.89
Days Inventory Outstanding (DIO)	101.60	103.79	96.31	89.82	90.48	101.39	105.73	112.94	108.22	104.50
Days Payable Outstanding (DPO)	55.91	0.00	0.00	76.76	88.73	103.90	100.07	100.08	100.48	104.10
Cash Conversion Cycle (CCC)	85.99	103.79	96.31	50.00	36.59	31.09	36.79	45.14	39.54	32.29
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,603	758	7,013	7,348	7,118	7,669	8,575	8,575	8,409	8,501
Invested Capital Turnover	1.63	2.62	1.22	0.74	0.74	0.76	0.78	0.74	0.78	0.80
Increase / (Decrease) in Invested Capital	-71	-1,845	6,254	336	-230	550	906	0.30	-166	92
Enterprise Value (EV)	10,466	9,793	16,490	22,266	24,584	27,268	26,138	25,658	20,252	24,129
Market Capitalization	9,532	10,141	12,037	18,089	20,910	23,525	21,974	21,764	16,904	20,919
Book Value per Share	$13.04	$8.60	$19.54	$24.08	$25.91	$29.43	$16.50	$17.45	$18.86	$19.72
Tangible Book Value per Share	($3.60)	$8.60	($38.18)	($32.13)	($29.40)	($32.23)	($16.37)	($14.62)	($13.25)	($12.13)
Total Capital	3,081	1,084	7,598	7,879	7,781	8,844	9,708	9,849	9,495	9,659
Total Debt	1,394	0.00	5,027	4,696	4,324	4,904	5,283	5,150	4,411	4,342
Total Long-Term Debt	1,051	0.00	4,444	4,053	3,626	3,754	3,973	3,642	3,340	3,594
Net Debt	916	-348	4,442	4,166	3,662	3,729	4,150	3,876	3,326	3,184
Capital Expenditures (CapEx)	128	152	182	169	174	225	278	262	264	275
Debt-free, Cash-free Net Working Capital (DFCFNWC)	349	838	66	25	-61	-236	-70	128	-192	-182
Debt-free Net Working Capital (DFNWC)	462	838	253	122	94	188	281	462	-26	4.50
Net Working Capital (NWC)	119	838	-330	-522	-604	-963	-1,028	-1,046	-1,097	-744
Net Nonoperating Expense (NNE)	1.69	2.25	44	147	71	54	41	2.46	72	55
Net Nonoperating Obligations (NNO)	916	-326	4,442	4,166	3,662	3,729	4,150	3,876	3,326	3,184
Total Depreciation and Amortization (D&A)	106	109	125	151	159	165	193	201	199	209
Debt-free, Cash-free Net Working Capital to Revenue	8.13%	19.00%	1.40%	0.47%	-1.14%	-4.21%	-1.11%	2.01%	-2.89%	-2.70%
Debt-free Net Working Capital to Revenue	10.75%	19.00%	5.35%	2.30%	1.76%	3.35%	4.45%	7.27%	-0.39%	0.07%
Net Working Capital to Revenue	2.77%	19.00%	-6.98%	-9.84%	-11.30%	-17.19%	-16.27%	-16.47%	-16.47%	-11.06%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$1.89	$3.55	$2.65	$2.80	$2.83	$2.54	$2.54	$2.94
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	262.21M	264.30M	265.83M	266.94M	267.53M	268.10M	268.24M	268.15M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$1.86	$3.50	$2.62	$2.78	$2.80	$2.52	$2.52	$2.92
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	262.21M	264.30M	265.83M	266.94M	267.53M	268.10M	268.24M	268.15M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	262.21M	264.30M	265.83M	266.94M	267.53M	268.10M	268.24M	268.15M
Normalized Net Operating Profit after Tax (NOPAT)	449	486	569	651	790	817	856	727	800	851
Normalized NOPAT Margin	10.44%	11.02%	12.02%	12.28%	14.78%	14.58%	13.55%	11.45%	12.01%	12.65%
Pre Tax Income Margin	11.55%	13.36%	12.57%	13.98%	15.32%	15.74%	14.18%	12.80%	11.99%	13.36%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	10.31	11.52	7.22	5.25	5.96	7.50	7.56	6.45	4.84	5.29
NOPAT to Interest Expense	7.57	8.47	5.45	6.19	4.68	5.91	5.83	4.59	3.61	4.03
EBIT Less CapEx to Interest Expense	7.91	8.81	5.31	4.28	4.91	5.84	5.52	4.69	3.57	3.98
NOPAT Less CapEx to Interest Expense	5.16	5.76	3.55	5.22	3.63	4.25	3.80	2.83	2.35	2.71
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	51.02%	46.11%	49.77%	30.68%	43.01%	44.17%	48.10%	58.17%	61.49%	57.20%
Augmented Payout Ratio	87.33%	97.50%	78.63%	37.36%	56.54%	50.50%	49.24%	63.86%	66.74%	63.93%

This table displays calculated financial ratios and metrics derived from McCormick & Company, Incorporated's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.98%	-2.00%	2.83%	7.96%	5.58%	3.37%	2.38%	-0.96%	-0.29%	2.58%	0.17%
EBITDA Growth	14.78%	-1.10%	-1.60%	33.10%	-15.64%	10.52%	12.60%	7.24%	15.82%	2.48%	-0.55%
EBIT Growth	16.34%	-3.13%	-1.41%	43.30%	-19.35%	13.82%	16.42%	5.21%	18.88%	2.09%	-3.92%
NOPAT Growth	-19.68%	-4.63%	-6.74%	31.92%	4.40%	14.13%	11.41%	17.20%	24.02%	-1.31%	0.62%
Net Income Growth	4.94%	-5.93%	-10.20%	28.35%	-23.69%	18.09%	19.34%	21.10%	31.16%	-1.87%	-2.23%
EPS Growth	3.80%	-8.01%	-8.77%	27.27%	-23.17%	-73.87%	19.23%	21.43%	31.75%	-2.47%	-3.23%
Operating Cash Flow Growth	-33.63%	-11.86%	477.65%	113.04%	177.85%	43.80%	33.85%	-43.91%	-39.19%	-20.53%	-16.55%
Free Cash Flow Firm Growth	113.84%	129.18%	331.55%	508.81%	49.60%	96.46%	40.62%	-15.41%	-72.28%	-65.62%	-63.29%
Invested Capital Growth	-0.20%	0.00%	-0.90%	-1.40%	-1.24%	-1.94%	-1.80%	-0.56%	1.78%	1.09%	0.62%
Revenue Q/Q Growth	3.83%	6.27%	-7.68%	5.99%	1.54%	4.04%	-8.56%	2.53%	2.23%	7.04%	-10.71%
EBITDA Q/Q Growth	70.47%	-10.34%	-20.67%	9.77%	8.05%	17.46%	-19.18%	4.55%	16.70%	3.92%	-21.56%
EBIT Q/Q Growth	91.19%	-12.76%	-22.96%	11.52%	7.60%	23.13%	-21.20%	0.78%	21.58%	5.74%	-25.84%
NOPAT Q/Q Growth	40.87%	9.91%	-23.00%	10.66%	11.48%	20.16%	-24.83%	16.40%	17.97%	-4.39%	-23.37%
Net Income Q/Q Growth	88.10%	-16.69%	-25.09%	9.35%	11.83%	28.92%	-24.30%	10.96%	21.12%	-3.54%	-24.58%
EPS Q/Q Growth	86.36%	278.05%	-83.23%	7.69%	12.50%	28.57%	-23.46%	9.68%	22.06%	-4.82%	-24.05%
Operating Cash Flow Q/Q Growth	-29.89%	319.44%	-74.24%	181.24%	-8.56%	117.07%	-76.02%	17.85%	-0.86%	183.67%	-74.82%
Free Cash Flow Firm Q/Q Growth	313.42%	0.29%	16.54%	26.00%	1.59%	31.70%	-16.59%	-24.20%	-66.71%	63.36%	-10.93%
Invested Capital Q/Q Growth	-0.32%	-3.01%	2.38%	-0.38%	-0.15%	-3.70%	2.52%	0.87%	2.19%	-4.35%	2.05%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	35.52%	36.82%	35.96%	37.10%	36.97%	40.01%	37.39%	37.71%	38.69%	40.17%	37.62%
EBITDA Margin	22.73%	19.17%	16.47%	17.06%	18.16%	20.50%	18.12%	18.48%	21.09%	20.48%	17.99%
Operating Margin	14.74%	15.59%	12.71%	13.37%	14.54%	16.96%	14.57%	14.25%	17.06%	17.03%	14.03%
EBIT Margin	19.59%	16.08%	13.42%	14.12%	14.96%	17.71%	15.26%	15.00%	17.84%	17.63%	14.64%
Profit (Net Income) Margin	13.97%	10.95%	8.89%	9.17%	10.10%	12.51%	10.36%	11.21%	13.28%	11.97%	10.11%
Tax Burden Percent	81.14%	81.34%	87.21%	83.53%	85.31%	85.10%	85.43%	95.14%	90.62%	81.45%	87.02%
Interest Burden Percent	87.88%	83.72%	75.92%	77.72%	79.10%	83.02%	79.44%	78.54%	82.15%	83.37%	79.36%
Effective Tax Rate	21.59%	23.30%	21.57%	22.13%	21.41%	22.16%	25.53%	13.53%	16.65%	25.44%	22.31%
Return on Invested Capital (ROIC)	8.34%	8.85%	7.23%	7.70%	8.59%	10.35%	8.35%	9.44%	10.78%	10.10%	8.48%
ROIC Less NNEP Spread (ROIC-NNEP)	9.22%	8.43%	6.81%	7.19%	8.02%	10.02%	8.14%	8.93%	10.33%	9.70%	8.09%
Return on Net Nonoperating Assets (RNNOA)	8.90%	7.41%	5.83%	6.04%	6.55%	7.38%	5.82%	6.18%	6.97%	6.07%	4.98%
Return on Equity (ROE)	17.24%	16.27%	13.06%	13.74%	15.14%	17.73%	14.17%	15.62%	17.75%	16.17%	13.46%
Cash Return on Invested Capital (CROIC)	8.04%	7.98%	8.54%	9.55%	9.48%	10.82%	10.67%	9.73%	7.85%	8.89%	9.15%
Operating Return on Assets (OROA)	9.69%	7.85%	6.56%	7.11%	7.62%	9.08%	7.84%	7.74%	9.10%	9.14%	7.64%
Return on Assets (ROA)	6.91%	5.34%	4.35%	4.62%	5.14%	6.42%	5.32%	5.79%	6.77%	6.21%	5.27%
Return on Common Equity (ROCE)	17.17%	16.21%	13.01%	13.69%	15.08%	17.66%	14.11%	15.55%	17.66%	16.09%	13.39%
Return on Equity Simple (ROE_SIMPLE)	15.12%	0.00%	13.68%	14.17%	12.81%	0.00%	13.52%	13.88%	14.62%	0.00%	14.47%
Net Operating Profit after Tax (NOPAT)	184	203	156	173	193	231	174	202	239	228	175
NOPAT Margin	11.56%	11.95%	9.97%	10.41%	11.43%	13.20%	10.85%	12.32%	14.22%	12.70%	10.90%
Net Nonoperating Expense Percent (NNEP)	-0.89%	0.42%	0.42%	0.51%	0.57%	0.33%	0.22%	0.51%	0.44%	0.40%	0.38%
Return On Investment Capital (ROIC_SIMPLE)	-	2.06%	-	-	-	2.44%	-	-	-	2.36%	1.79%
Cost of Revenue to Revenue	64.48%	63.18%	64.04%	62.90%	63.03%	59.99%	62.61%	62.29%	61.31%	59.83%	62.38%
SG&A Expenses to Revenue	20.56%	20.43%	21.47%	22.93%	22.06%	22.25%	22.56%	23.35%	21.52%	23.05%	23.59%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	20.78%	21.24%	23.25%	23.73%	22.43%	23.05%	22.82%	23.46%	21.63%	23.14%	23.59%
Earnings before Interest and Taxes (EBIT)	313	273	210	234	252	310	245	247	300	317	235
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	363	325	258	283	306	359	290	304	354	368	289
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.76	4.65	4.01	4.56	4.26	3.34	3.53	3.64	3.97	3.95	4.08
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.42	3.43	3.05	3.45	3.26	2.54	2.76	2.90	3.22	3.11	3.29
Price to Earnings (P/E)	15.65	16.41	14.89	16.73	14.86	12.95	13.88	14.21	14.67	13.92	14.78
Dividend Yield	1.78%	1.82%	2.06%	1.81%	1.92%	2.48%	2.31%	2.24%	2.06%	2.16%	2.07%
Earnings Yield	6.39%	6.09%	6.72%	5.98%	6.73%	7.72%	7.21%	7.04%	6.82%	7.18%	6.77%
Enterprise Value to Invested Capital (EV/IC)	2.95	2.99	2.67	3.01	2.89	2.41	2.54	2.62	2.81	2.84	2.93
Enterprise Value to Revenue (EV/Rev)	4.09	4.04	3.66	4.04	3.81	3.04	3.26	3.40	3.74	3.59	3.78
Enterprise Value to EBITDA (EV/EBITDA)	22.40	22.07	20.21	21.40	21.50	16.79	17.65	18.07	19.09	18.33	19.32
Enterprise Value to EBIT (EV/EBIT)	26.91	26.67	24.42	25.54	25.99	20.11	21.00	21.60	22.67	21.78	23.13
Enterprise Value to NOPAT (EV/NOPAT)	37.63	37.49	34.76	36.71	34.81	26.91	28.38	28.44	29.50	28.62	30.10
Enterprise Value to Operating Cash Flow (EV/OCF)	37.02	39.38	31.77	29.51	23.73	16.37	17.19	19.88	24.00	26.17	28.26
Enterprise Value to Free Cash Flow (EV/FCFF)	36.71	37.50	31.08	31.28	30.24	22.04	23.56	26.80	36.12	32.11	32.12
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.16	1.10	1.07	0.98	0.94	0.87	0.85	0.83	0.84	0.82	0.79
Long-Term Debt to Equity	0.85	0.78	0.74	0.83	0.67	0.66	0.63	0.62	0.61	0.68	0.57
Financial Leverage	0.96	0.88	0.86	0.84	0.82	0.74	0.72	0.69	0.67	0.63	0.62
Leverage Ratio	2.87	2.85	2.75	2.70	2.68	2.66	2.57	2.51	2.49	2.49	2.41
Compound Leverage Factor	2.52	2.39	2.09	2.10	2.12	2.21	2.04	1.97	2.05	2.08	1.91
Debt to Total Capital	53.79%	52.29%	51.58%	49.52%	48.51%	46.46%	45.88%	45.47%	45.70%	44.95%	44.15%
Short-Term Debt to Total Capital	14.62%	15.30%	15.71%	7.60%	14.13%	11.29%	11.61%	11.60%	12.40%	7.75%	12.42%
Long-Term Debt to Total Capital	39.17%	36.98%	35.86%	41.93%	34.38%	35.18%	34.27%	33.87%	33.30%	37.21%	31.73%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.17%	0.19%	0.17%	0.20%	0.21%	0.24%	0.26%	0.27%	0.29%	0.27%	0.27%
Common Equity to Total Capital	46.04%	47.52%	48.25%	50.27%	51.28%	53.30%	53.86%	54.26%	54.00%	54.78%	55.58%
Debt to EBITDA	4.60	4.43	4.49	3.96	4.08	3.66	3.60	3.55	3.51	3.30	3.28
Net Debt to EBITDA	3.63	3.33	3.36	3.08	3.12	2.76	2.72	2.65	2.63	2.42	2.45
Long-Term Debt to EBITDA	3.35	3.13	3.13	3.35	2.89	2.77	2.69	2.64	2.56	2.73	2.35
Debt to NOPAT	7.73	7.52	7.73	6.79	6.60	5.86	5.78	5.58	5.42	5.15	5.10
Net Debt to NOPAT	6.10	5.66	5.78	5.29	5.06	4.42	4.37	4.18	4.06	3.78	3.82
Long-Term Debt to NOPAT	5.63	5.32	5.37	5.75	4.68	4.44	4.32	4.16	3.95	4.26	3.67
Altman Z-Score	2.41	2.33	2.20	2.57	2.46	2.15	2.32	2.39	2.54	2.52	2.67
Noncontrolling Interest Sharing Ratio	0.38%	0.36%	0.36%	0.38%	0.39%	0.42%	0.42%	0.45%	0.48%	0.47%	0.48%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.77	0.70	0.73	0.85	0.67	0.65	0.68	0.69	0.71	0.74	0.65
Quick Ratio	0.29	0.26	0.28	0.28	0.25	0.24	0.25	0.26	0.27	0.27	0.20
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	202	202	236	297	302	398	332	251	84	137	122
Operating Cash Flow to CapEx	146.78%	421.64%	168.13%	509.28%	387.61%	752.54%	223.23%	238.80%	274.07%	535.86%	311.32%
Free Cash Flow to Firm to Interest Expense	5.33	4.56	4.66	5.69	5.73	7.55	6.59	4.75	1.56	2.59	2.51
Operating Cash Flow to Interest Expense	2.53	9.04	2.04	5.57	5.05	10.95	2.75	3.08	3.02	8.70	2.38
Operating Cash Flow Less CapEx to Interest Expense	0.80	6.90	0.83	4.48	3.74	9.50	1.52	1.79	1.92	7.08	1.62
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.49	0.49	0.49	0.50	0.51	0.51	0.51	0.52	0.51	0.52	0.52
Accounts Receivable Turnover	11.54	11.31	11.76	12.41	11.10	11.47	11.77	11.57	10.39	11.45	12.41
Inventory Turnover	3.12	3.23	3.18	3.16	3.21	3.37	3.36	3.40	3.33	3.49	3.48
Fixed Asset Turnover	5.67	5.43	5.42	5.46	5.45	5.28	5.19	5.11	4.97	4.91	4.90
Accounts Payable Turnover	3.72	3.65	3.75	3.72	3.73	3.63	3.69	3.58	3.53	3.51	3.60
Days Sales Outstanding (DSO)	31.63	32.28	31.05	29.42	32.89	31.81	31.01	31.56	35.13	31.89	29.42
Days Inventory Outstanding (DIO)	116.86	112.94	114.77	115.35	113.75	108.22	108.53	107.30	109.64	104.50	104.94
Days Payable Outstanding (DPO)	98.06	100.08	97.39	97.99	97.96	100.48	99.03	101.83	103.40	104.10	101.40
Cash Conversion Cycle (CCC)	50.43	45.14	48.42	46.78	48.68	39.54	40.52	37.03	41.36	32.29	32.96
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,842	8,575	8,779	8,746	8,732	8,409	8,621	8,697	8,888	8,501	8,675
Invested Capital Turnover	0.72	0.74	0.73	0.74	0.75	0.78	0.77	0.77	0.76	0.80	0.78
Increase / (Decrease) in Invested Capital	-17	0.30	-80	-125	-109	-166	-158	-49	155	92	53
Enterprise Value (EV)	26,117	25,658	23,414	26,299	25,193	20,252	21,866	22,754	24,964	24,129	25,404
Market Capitalization	21,865	21,764	19,505	22,490	21,510	16,904	18,477	19,385	21,498	20,919	22,152
Book Value per Share	$17.11	$17.45	$18.17	$18.41	$18.82	$18.86	$19.50	$19.85	$20.18	$19.72	$20.22
Tangible Book Value per Share	($14.97)	($14.62)	($13.95)	($13.68)	($13.30)	($13.25)	($12.55)	($12.18)	($11.87)	($12.13)	($11.53)
Total Capital	9,969	9,849	10,094	9,820	9,847	9,495	9,714	9,819	10,039	9,659	9,757
Total Debt	5,362	5,150	5,206	4,864	4,777	4,411	4,457	4,465	4,588	4,342	4,308
Total Long-Term Debt	3,905	3,642	3,620	4,118	3,385	3,340	3,329	3,326	3,343	3,594	3,096
Net Debt	4,235	3,876	3,892	3,789	3,662	3,326	3,364	3,343	3,437	3,184	3,225
Capital Expenditures (CapEx)	65	95	62	57	69	77	62	68	59	86	37
Debt-free, Cash-free Net Working Capital (DFCFNWC)	386	128	320	235	194	-192	-3.70	58	144	-182	20
Debt-free Net Working Capital (DFNWC)	729	462	676	363	348	-26	174	224	345	4.50	123
Net Working Capital (NWC)	-728	-1,046	-910	-383	-1,044	-1,097	-954	-915	-900	-744	-1,089
Net Nonoperating Expense (NNE)	-38	17	17	21	22	12	7.89	18	16	13	13
Net Nonoperating Obligations (NNO)	4,235	3,876	3,892	3,789	3,662	3,326	3,364	3,343	3,437	3,184	3,225
Total Depreciation and Amortization (D&A)	50	52	48	49	54	49	46	57	55	51	54
Debt-free, Cash-free Net Working Capital to Revenue	6.04%	2.01%	5.00%	3.61%	2.93%	-2.89%	-0.06%	0.86%	2.16%	-2.70%	0.30%
Debt-free Net Working Capital to Revenue	11.42%	7.27%	10.58%	5.57%	5.27%	-0.39%	2.60%	3.35%	5.16%	0.07%	1.83%
Net Working Capital to Revenue	-11.40%	-16.47%	-14.23%	-5.88%	-15.80%	-16.47%	-14.23%	-13.69%	-13.48%	-11.06%	-16.19%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.83	$3.10	$0.52	$0.57	$0.63	$0.82	$0.62	$0.69	$0.83	$0.80	$0.60
Adjusted Weighted Average Basic Shares Outstanding	268.30M	268.10M	268.20M	268.40M	268.40M	268.24M	268.40M	268.60M	268.60M	268.15M	268.30M
Adjusted Diluted Earnings per Share	$0.82	$3.10	$0.52	$0.56	$0.63	$0.81	$0.62	$0.68	$0.83	$0.79	$0.60
Adjusted Weighted Average Diluted Shares Outstanding	270.20M	268.10M	269.80M	269.80M	270.10M	268.24M	269.60M	269.70M	269.70M	268.15M	269.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$3.10	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	268.21M	268.10M	268.23M	268.33M	268.33M	268.24M	268.41M	268.63M	268.36M	268.15M	268.19M
Normalized Net Operating Profit after Tax (NOPAT)	187	213	178	183	197	242	177	204	240	230	175
Normalized NOPAT Margin	11.73%	12.57%	11.36%	11.03%	11.71%	13.82%	11.05%	12.41%	14.31%	12.76%	10.90%
Pre Tax Income Margin	17.22%	13.46%	10.19%	10.98%	11.84%	14.70%	12.12%	11.78%	14.66%	14.69%	11.62%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.25	6.14	4.15	4.49	4.78	5.89	4.86	4.66	5.60	6.01	4.85
NOPAT to Interest Expense	4.87	4.57	3.08	3.31	3.65	4.39	3.46	3.83	4.46	4.33	3.61
EBIT Less CapEx to Interest Expense	6.53	4.00	2.94	3.39	3.48	4.43	3.63	3.37	4.50	4.39	4.08
NOPAT Less CapEx to Interest Expense	3.15	2.42	1.87	2.21	2.35	2.93	2.22	2.54	3.36	2.71	2.84
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	55.99%	58.17%	60.39%	58.26%	63.83%	61.49%	60.30%	58.79%	55.89%	57.20%	58.49%
Augmented Payout Ratio	60.53%	63.86%	65.43%	64.62%	69.92%	66.74%	64.89%	61.71%	60.69%	63.93%	67.41%

Frequently Asked Questions About McCormick & Company, Incorporated's Financials

When does McCormick & Company, Incorporated's financial year end?

According to the most recent income statement we have on file, McCormick & Company, Incorporated's fiscal year ends in November. Their fiscal year 2024 ended on November 30, 2024.

How has McCormick & Company, Incorporated's net income changed over the last 9 years?

McCormick & Company, Incorporated's net income appears to be on an upward trend, with a most recent value of $788.50 million in 2024, rising from $401.60 million in 2015. The previous period was $680.60 million in 2023.

What is McCormick & Company, Incorporated's operating income?

McCormick & Company, Incorporated's total operating income in 2024 was $1.06 billion, based on the following breakdown:

Total Gross Profit: $2.59 billion
Total Operating Expenses: $1.53 billion

How has McCormick & Company, Incorporated revenue changed over the last 9 years?

Over the last 9 years, McCormick & Company, Incorporated's total revenue changed from $4.30 billion in 2015 to $6.72 billion in 2024, a change of 56.5%.

How much debt does McCormick & Company, Incorporated have?

McCormick & Company, Incorporated's total liabilities were at $7.75 billion at the end of 2024, a 0.3% decrease from 2023, and a 178.3% increase since 2015.

How much cash does McCormick & Company, Incorporated have?

In the past 9 years, McCormick & Company, Incorporated's cash and equivalents has ranged from $0.00 in 2016 to $423.60 million in 2020, and is currently $186.10 million as of their latest financial filing in 2024.

How has McCormick & Company, Incorporated's book value per share changed over the last 9 years?

Over the last 9 years, McCormick & Company, Incorporated's book value per share changed from 13.04 in 2015 to 19.72 in 2024, a change of 51.2%.

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This page (NYSE:MKC) was last updated on 4/25/2025 by MarketBeat.com Staff

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McCormick & Company, Incorporated (MKC) Financials

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McCormick & Company, Incorporated (MKC) Financials

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