McCormick & Company, Incorporated (MKC) Financials

$72.49 +1.11 (+1.56%)

Closing price 03:59 PM Eastern

Extended Trading

$72.50 +0.01 (+0.01%)

As of 07:59 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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	11/30/2024	11/30/2023	11/30/2022	11/30/2021	11/30/2020	11/30/2019	11/30/2018	11/30/2017	11/30/2016	11/30/2015
Net Income / (Loss) Attributable to Common Shareholders	1,503	1,305	1,326	1,458	747	703	933	477	909	767
Consolidated Net Income / (Loss)	789	681	682	755	747	703	933	477	472	402
Net Income / (Loss) Continuing Operations	789	681	682	755	747	703	933	477	472	402
Total Pre-Tax Income	898	799	813	896	882	819	741	595	589	496
Total Operating Income	1,060	963	864	1,015	1,000	958	891	700	641	548
Total Gross Profit	2,591	2,503	2,275	2,495	2,300	2,145	2,093	1,794	1,832	1,737
Total Revenue	6,724	6,662	6,351	6,318	5,601	5,347	5,303	4,730	4,412	4,296
Operating Revenue	6,724	6,662	6,351	6,318	5,601	5,347	5,303	4,730	4,412	4,296
Total Cost of Revenue	4,133	4,160	4,076	3,823	3,301	3,202	3,210	2,936	2,580	2,559
Operating Cost of Revenue	4,133	4,160	4,076	3,823	3,301	3,202	3,210	2,936	2,580	2,559
Total Operating Expenses	1,531	1,540	1,411	1,480	1,301	1,188	1,202	1,094	1,191	1,189
Selling, General & Admin Expense	1,521	1,478	1,357	1,404	1,282	1,167	1,163	1,031	1,175	1,127
Restructuring Charge	0.00	0.00	2.20	29	12	0.00	23	41	0.00	0.00
Other Special Charges / (Income)	9.50	61	52	46	6.90	21	16	22	16	62
Total Other Income / (Expense), net	-162	-164	-51	-119	-118	-139	-150	-105	-52	-52
Interest Expense	209	208	149	137	136	165	175	96	56	53
Other Income / (Expense), net	47	44	98	17	18	27	25	-9.30	4.20	1.10
Income Tax Expense	184	175	169	193	175	157	-157	151	153	131
Other Gains / (Losses), net	74	56	38	52	41	41	35	34	36	37
Net Income / (Loss) Attributable to Noncontrolling Interest	-714	-624	-644	-703	-	-	-	-	-436	-365
Basic Earnings per Share	$2.94	$2.54	$2.54	$2.83	$2.80	$2.65	$3.55	$3.77	$3.73	$3.14
Weighted Average Basic Shares Outstanding	268.15M	268.24M	268.10M	267.53M	266.94M	132.91M	131.50M	126.80M	126.60M	128M
Diluted Earnings per Share	$2.92	$2.52	$2.52	$2.80	$2.78	$2.62	$3.50	$3.72	$3.69	$3.11
Weighted Average Diluted Shares Outstanding	268.15M	268.24M	268.10M	267.53M	266.94M	132.91M	131.50M	126.80M	126.60M	128M
Weighted Average Basic & Diluted Shares Outstanding	268.15M	268.24M	268.10M	267.53M	266.94M	132.91M	131.50M	126.80M	126.60M	128M
Cash Dividends to Common per Share	$1.68	$1.56	$1.48	$1.36	$1.24	$2.28	$2.08	$1.88	$1.72	$1.60

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023	11/30/2022	8/31/2022
Net Income / (Loss) Attributable to Common Shareholders	307	724	428	184	166	687	327	152	139	830	223
Consolidated Net Income / (Loss)	162	215	223	184	166	219	170	152	139	186	223
Net Income / (Loss) Continuing Operations	162	215	223	184	166	219	170	152	139	186	223
Total Pre-Tax Income	187	264	246	194	194	258	199	182	160	228	275
Total Operating Income	225	306	287	234	234	297	245	222	199	264	235
Total Gross Profit	604	722	650	620	599	701	623	616	563	624	567
Total Revenue	1,606	1,798	1,680	1,643	1,603	1,753	1,685	1,659	1,566	1,696	1,596
Operating Revenue	1,606	1,798	1,680	1,643	1,603	1,753	1,685	1,659	1,566	1,696	1,596
Total Cost of Revenue	1,002	1,076	1,030	1,024	1,003	1,052	1,062	1,044	1,003	1,071	1,029
Operating Cost of Revenue	1,002	1,076	1,030	1,024	1,003	1,052	1,062	1,044	1,003	1,071	1,029
Total Operating Expenses	379	416	363	386	366	404	378	394	364	360	332
Selling, General & Admin Expense	379	414	362	384	362	390	372	381	336	347	328
Other Special Charges / (Income)	0.00	1.60	1.90	1.80	4.20	14	6.10	13	28	14	3.40
Total Other Income / (Expense), net	-39	-42	-40	-41	-39	-40	-46	-40	-40	-36	40
Interest Expense	49	53	54	53	50	53	53	52	51	44	38
Other Income / (Expense), net	9.80	11	13	12	11	13	7.10	13	11	8.40	77
Income Tax Expense	42	67	41	26	50	57	43	40	34	53	59
Other Gains / (Losses), net	17	18	18	17	21	19	13	10	14	11	7.50
Net Income / (Loss) Attributable to Noncontrolling Interest	-145	-	-205	-	-	-	-157	-	-	-	-
Basic Earnings per Share	$0.60	$0.80	$0.83	$0.69	$0.62	$0.82	$0.63	$0.57	$0.52	$3.10	$0.83
Weighted Average Basic Shares Outstanding	268.30M	268.15M	268.60M	268.60M	268.40M	268.24M	268.40M	268.40M	268.20M	268.10M	268.30M
Diluted Earnings per Share	$0.60	$0.79	$0.83	$0.68	$0.62	$0.81	$0.63	$0.56	$0.52	$3.10	$0.82
Weighted Average Diluted Shares Outstanding	269.50M	268.15M	269.70M	269.70M	269.60M	268.24M	270.10M	269.80M	269.80M	268.10M	270.20M
Weighted Average Basic & Diluted Shares Outstanding	268.19M	268.15M	268.36M	268.63M	268.41M	268.24M	268.33M	268.33M	268.23M	268.10M	268.21M
Cash Dividends to Common per Share	$0.45	-	$0.84	$0.42	$0.42	-	$0.78	$0.78	$0.39	$0.37	$0.74

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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	11/30/2024	11/30/2023	11/30/2022	11/30/2021	11/30/2020	11/30/2019	11/30/2018	11/30/2017	11/30/2016	11/30/2015
Net Change in Cash & Equivalents	20	-167	-18	-72	268	50	-88	68	5.80	35
Net Cash From Operating Activities	922	1,237	652	828	1,041	947	821	815	658	590
Net Cash From Continuing Operating Activities	922	1,237	652	828	1,041	947	821	815	658	590
Net Income / (Loss) Continuing Operations	789	681	682	755	747	703	933	477	472	402
Consolidated Net Income / (Loss)	789	681	682	755	747	703	933	477	472	402
Depreciation Expense	209	199	201	186	165	159	151	125	109	106
Non-Cash Adjustments To Reconcile Net Income	38	94	2.80	67	38	26	-294	55	36	46
Changes in Operating Assets and Liabilities, net	-113	264	-234	-187	91	59	31	158	42	37
Net Cash From Investing Activities	-269	-261	-146	-909	-1,026	-171	-159	-4,508	-267	-339
Net Cash From Continuing Investing Activities	-269	-261	-146	-909	-1,026	-171	-159	-4,508	-267	-339
Purchase of Property, Plant & Equipment	-275	-264	-262	-278	-225	-174	-169	-182	-154	-128
Divestitures	0.00	1.00	109	65	0.00	0.00	-	-	4.20	0.00
Other Investing Activities, net	5.90	2.40	6.80	10	2.70	2.70	15	1.50	1.40	0.00
Net Cash From Financing Activities	-583	-1,184	-487	22	221	-726	-751	3,756	-372	-200
Net Cash From Continuing Financing Activities	-583	-1,184	-487	22	221	-726	-751	3,756	-372	-200
Repayment of Debt	-583	-1,232	-74	-606	28	-448	-798	-415	-202	-129
Repurchase of Common Equity	-53	-36	-39	-8.60	-47	-95	-62	-138	-243	-146
Payment of Dividends	-451	-419	-397	-363	-330	-302	-286	-238	-218	-205
Issuance of Debt	496	496	0.00	1,002	527	41	331	3,990	258	247
Other Financing Activities, net	8.50	5.80	22	-1.90	44	78	64	2.80	33	33
Effect of Exchange Rate Changes	-50	40	-36	-14	32	-	-	5.40	-14	-16

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023	11/30/2022	8/31/2022
Net Change in Cash & Equivalents	-83	-15	35	-12	11	12	27	-229	23	-9.90	18
Net Cash From Operating Activities	116	459	162	163	138	577	266	291	103	401	96
Net Cash From Continuing Operating Activities	116	459	162	163	138	577	266	291	103	401	96
Net Income / (Loss) Continuing Operations	162	215	223	184	166	219	170	152	139	186	223
Consolidated Net Income / (Loss)	162	215	223	184	166	219	170	152	139	186	223
Depreciation Expense	54	51	55	57	46	49	54	49	48	52	50
Non-Cash Adjustments To Reconcile Net Income	11	-2.60	3.30	20	17	30	14	38	12	6.30	-36
Changes in Operating Assets and Liabilities, net	-112	195	-119	-99	-90	279	28	52	-95	157	-142
Net Cash From Investing Activities	-37	-80	-59	-68	-62	-76	-69	-55	-62	-91	34
Net Cash From Continuing Investing Activities	-37	-80	-59	-68	-62	-76	-69	-55	-62	-91	34
Purchase of Property, Plant & Equipment	-37	-86	-59	-68	-62	-77	-69	-57	-62	-95	-65
Other Investing Activities, net	0.00	5.70	-	-	0.20	-	-0.10	2.50	0.00	4.30	2.20
Net Cash From Financing Activities	-155	-377	-34	-105	-68	-483	-183	-473	-45	-314	-92
Net Cash From Continuing Financing Activities	-155	-377	-34	-105	-68	-483	-183	-473	-45	-314	-92
Repayment of Debt	8.60	-741	101	68	-12	-370	-75	-783	-3.60	-203	17
Repurchase of Common Equity	-17	-24	-25	-4.20	-0.30	-9.00	-8.10	-15	-3.50	-13	-13
Payment of Dividends	-121	-113	-113	-113	-113	-105	-105	-105	-105	-99	-99
Issuance of Debt	-26	496	-	-57	57	-	-	429	68	-	-
Other Financing Activities, net	0.00	4.60	2.40	2.00	-0.50	0.70	4.80	1.20	-0.90	1.50	3.80
Other Net Changes in Cash	-6.50	-	-	-	2.50	-	-	-	26	-	-

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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	11/30/2024	11/30/2023	11/30/2022	11/30/2021	11/30/2020	11/30/2019	11/30/2018	11/30/2017	11/30/2016	11/30/2015
Total Assets	13,070	12,862	13,125	12,906	12,090	10,362	10,256	10,386	1,187	4,473
Total Current Assets	2,139	2,002	2,387	2,196	2,084	1,550	1,480	1,617	838	1,357
Cash & Equivalents	186	167	334	352	424	155	97	187	-	113
Accounts Receivable	587	588	574	550	529	503	518	555	-	455
Inventories, net	1,240	1,127	1,340	1,182	1,033	801	786	793	756	711
Prepaid Expenses	126	121	139	112	99	91	79	82	82	79
Plant, Property, & Equipment, net	1,413	1,325	1,198	1,140	1,028	953	942	809	0.00	618
Total Noncurrent Assets	9,518	9,536	9,540	9,570	8,978	7,859	7,835	7,960	348	2,497
Long-Term Investments	972	919	939	781	752	507	434	399	348	365
Goodwill	5,228	5,260	5,213	5,336	4,986	4,505	4,528	4,490	-	1,759
Intangible Assets	3,319	3,357	3,388	3,453	3,239	2,847	2,873	3,071	-	372
Total Liabilities & Shareholders' Equity	13,070	12,862	13,125	12,906	12,090	10,362	10,256	10,386	1,164	4,473
Total Liabilities	7,754	7,779	8,426	8,480	8,150	6,905	7,074	7,815	80	2,786
Total Current Liabilities	2,883	3,099	3,432	3,224	3,047	2,154	2,002	1,947	0.00	1,239
Short-Term Debt	748	1,072	1,507	1,309	1,151	698	644	583	-	343
Accounts Payable	1,238	1,119	1,171	1,064	1,032	847	710	640	-	412
Accrued Expenses	896	908	754	850	864	609	648	724	-	484
Total Noncurrent Liabilities	4,871	4,680	4,993	5,257	5,103	4,751	5,073	5,868	80	1,547
Long-Term Debt	3,594	3,340	3,642	3,973	3,754	3,626	4,053	4,444	-	1,051
Noncurrent Deferred & Payable Income Tax Liabilities	841	861	866	792	727	698	707	1,095	80	-
Other Noncurrent Operating Liabilities	437	479	485	491	622	428	313	329	-	496
Total Equity & Noncontrolling Interests	5,317	5,084	4,699	4,426	3,940	3,457	3,182	2,571	1,084	1,687
Total Preferred & Common Equity	5,291	5,061	4,681	4,411	3,926	3,444	3,171	2,560	1,084	1,670
Total Common Equity	5,291	5,061	4,681	4,411	3,926	3,444	3,171	2,560	1,084	1,670
Common Stock	2,237	2,200	2,139	2,055	1,981	1,889	1,771	1,673	1,084	1,040
Retained Earnings	3,545	3,250	3,023	2,782	2,416	2,056	1,760	1,167	-	1,037
Accumulated Other Comprehensive Income / (Loss)	-491	-389	-481	-427	-471	-500	-360	-280	-	-406
Noncontrolling Interest	26	23	19	15	14	13	11	11	-	17

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023	11/30/2022	8/31/2022
Total Assets	12,900	13,070	13,205	12,988	12,890	12,862	12,990	12,908	13,205	13,125	12,941
Total Current Assets	2,013	2,139	2,244	2,069	2,020	2,002	2,128	2,104	2,411	2,387	2,413
Cash & Equivalents	103	186	201	166	178	167	155	127	357	334	344
Accounts Receivable	517	587	661	599	568	588	625	557	571	574	566
Inventories, net	1,246	1,240	1,243	1,158	1,130	1,127	1,226	1,276	1,345	1,340	1,380
Prepaid Expenses	147	126	140	146	145	121	123	143	139	139	124
Plant, Property, & Equipment, net	1,393	1,413	1,400	1,366	1,355	1,325	1,286	1,250	1,225	1,198	1,139
Total Noncurrent Assets	9,494	9,518	9,561	9,552	9,515	9,536	9,577	9,555	9,569	9,540	9,389
Long-Term Investments	980	972	951	956	915	919	960	947	958	939	783
Goodwill	5,206	5,228	5,278	5,257	5,254	5,260	5,252	5,235	5,230	5,213	5,210
Intangible Assets	3,308	3,319	3,333	3,339	3,347	3,357	3,364	3,372	3,382	3,388	3,397
Total Liabilities & Shareholders' Equity	12,900	13,070	13,205	12,988	12,890	12,862	12,990	12,908	13,205	13,125	12,941
Total Liabilities	7,450	7,754	7,754	7,633	7,633	7,779	7,920	7,951	8,318	8,426	8,334
Total Current Liabilities	3,102	2,883	3,144	2,984	2,974	3,099	3,171	2,487	3,321	3,432	3,140
Short-Term Debt	1,212	748	1,245	1,139	1,128	1,072	1,392	746	1,586	1,507	1,457
Accounts Payable	1,162	1,238	1,228	1,210	1,133	1,119	1,100	1,100	1,124	1,171	1,144
Accrued Expenses	728	896	672	635	713	908	679	641	611	754	540
Total Noncurrent Liabilities	4,348	4,871	4,610	4,649	4,659	4,680	4,749	5,464	4,997	4,993	5,194
Long-Term Debt	3,096	3,594	3,343	3,326	3,329	3,340	3,385	4,118	3,620	3,642	3,905
Noncurrent Deferred & Payable Income Tax Liabilities	830	841	836	851	858	861	865	863	867	866	816
Other Noncurrent Operating Liabilities	423	437	430	472	472	479	499	484	510	485	473
Total Equity & Noncontrolling Interests	5,450	5,317	5,451	5,354	5,257	5,084	5,070	4,957	4,888	4,699	4,607
Total Preferred & Common Equity	5,423	5,291	5,422	5,327	5,233	5,061	5,049	4,937	4,870	4,681	4,589
Total Common Equity	5,423	5,291	5,422	5,327	5,233	5,061	5,049	4,937	4,870	4,681	4,589
Common Stock	2,253	2,237	2,235	2,235	2,213	2,200	2,192	2,177	2,152	2,139	2,131
Retained Earnings	3,694	3,545	3,577	3,480	3,413	3,250	3,252	3,191	3,155	3,023	3,048
Accumulated Other Comprehensive Income / (Loss)	-525	-491	-390	-388	-394	-389	-394	-432	-437	-481	-590
Noncontrolling Interest	27	26	30	27	25	23	21	20	18	19	17

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

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	11/30/2024	11/30/2023	11/30/2022	11/30/2021	11/30/2020	11/30/2019	11/30/2018	11/30/2017	11/30/2016	11/30/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.92%	4.91%	0.52%	12.79%	4.75%	0.84%	12.10%	7.23%	2.68%	1.25%
EBITDA Growth	9.14%	3.76%	-5.10%	3.63%	3.40%	7.18%	30.76%	8.20%	15.03%	-7.27%
EBIT Growth	10.01%	4.68%	-6.83%	1.50%	3.32%	7.48%	32.64%	7.02%	17.42%	-9.04%
NOPAT Growth	12.03%	9.96%	-14.09%	-0.56%	3.55%	-28.37%	107.02%	9.96%	17.67%	-9.23%
Net Income Growth	15.85%	-0.21%	-9.70%	1.06%	6.36%	-24.72%	95.52%	1.08%	17.60%	-8.29%
EPS Growth	15.87%	0.00%	-10.00%	0.72%	6.36%	-24.72%	95.52%	0.81%	18.65%	-6.89%
Operating Cash Flow Growth	-25.49%	89.92%	-21.34%	-20.46%	9.98%	15.29%	0.72%	23.89%	11.54%	17.16%
Free Cash Flow Firm Growth	-18.22%	34.31%	724.45%	-143.69%	-75.01%	34.75%	112.99%	-347.14%	388.75%	-8.12%
Invested Capital Growth	1.09%	-1.94%	0.00%	11.82%	7.73%	-3.13%	4.78%	824.79%	-70.87%	-2.67%
Revenue Q/Q Growth	0.68%	0.86%	-0.54%	2.81%	1.32%	0.32%	1.55%	3.50%	0.57%	0.66%
EBITDA Q/Q Growth	0.68%	2.92%	-0.31%	0.62%	-2.18%	0.48%	5.31%	5.21%	1.10%	2.31%
EBIT Q/Q Growth	0.59%	3.89%	-0.91%	0.15%	-2.55%	0.39%	5.81%	4.73%	1.41%	2.27%
NOPAT Q/Q Growth	-0.38%	3.97%	-1.38%	0.19%	-1.72%	-0.53%	2.47%	8.90%	1.09%	0.22%
Net Income Q/Q Growth	-0.52%	5.19%	-1.69%	-0.44%	-1.67%	-0.09%	4.28%	3.99%	1.77%	0.30%
EPS Q/Q Growth	-0.68%	-53.25%	-51.63%	-1.41%	-1.67%	-0.09%	4.28%	3.05%	2.22%	0.32%
Operating Cash Flow Q/Q Growth	-11.39%	16.56%	-7.65%	5.18%	-3.49%	2.16%	-8.89%	27.65%	10.46%	8.38%
Free Cash Flow Firm Q/Q Growth	8.73%	10.28%	-3.83%	87.73%	-76.95%	5.59%	111.35%	-1,296.39%	394.11%	17.93%
Invested Capital Q/Q Growth	-4.35%	-3.70%	-3.01%	-3.21%	6.94%	-4.37%	-3.52%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	38.54%	37.56%	35.82%	39.48%	41.07%	40.12%	39.48%	37.93%	41.52%	40.44%
EBITDA Margin	19.58%	18.11%	18.31%	19.39%	21.10%	21.38%	20.11%	17.24%	17.09%	15.26%
Operating Margin	15.77%	14.45%	13.60%	16.07%	17.84%	17.91%	16.80%	14.79%	14.53%	12.76%
EBIT Margin	16.47%	15.11%	15.15%	16.34%	18.16%	18.41%	17.27%	14.60%	14.63%	12.79%
Profit (Net Income) Margin	11.73%	10.22%	10.74%	11.95%	13.34%	13.14%	17.60%	10.09%	10.71%	9.35%
Tax Burden Percent	87.78%	85.21%	83.91%	84.32%	84.79%	85.78%	125.91%	80.26%	80.16%	80.94%
Interest Burden Percent	81.10%	79.32%	84.50%	86.77%	86.67%	83.22%	80.94%	86.14%	91.32%	90.30%
Effective Tax Rate	20.48%	21.85%	20.74%	21.51%	19.84%	19.21%	-21.22%	25.44%	25.97%	26.46%
Return on Invested Capital (ROIC)	9.97%	8.86%	7.98%	9.81%	10.84%	10.70%	15.04%	13.43%	28.23%	15.28%
ROIC Less NNEP Spread (ROIC-NNEP)	8.29%	6.86%	7.92%	8.76%	9.38%	8.88%	11.63%	11.27%	27.47%	15.09%
Return on Net Nonoperating Assets (RNNOA)	5.19%	5.05%	6.97%	8.25%	9.37%	10.47%	17.41%	12.69%	5.85%	7.69%
Return on Equity (ROE)	15.16%	13.91%	14.95%	18.06%	20.21%	21.17%	32.45%	26.12%	34.09%	22.97%
Cash Return on Invested Capital (CROIC)	8.89%	10.82%	7.98%	-1.35%	3.39%	13.87%	10.37%	-147.54%	138.00%	17.98%
Operating Return on Assets (OROA)	8.54%	7.75%	7.39%	8.26%	9.06%	9.55%	8.87%	11.93%	22.80%	12.37%
Return on Assets (ROA)	6.08%	5.24%	5.24%	6.04%	6.66%	6.82%	9.04%	8.25%	16.69%	9.04%
Return on Common Equity (ROCE)	15.09%	13.86%	14.89%	18.00%	20.14%	21.09%	32.32%	26.04%	33.88%	22.75%
Return on Equity Simple (ROE_SIMPLE)	14.90%	13.45%	14.57%	17.12%	19.04%	20.40%	29.44%	18.65%	43.56%	24.05%
Net Operating Profit after Tax (NOPAT)	843	753	684	797	801	774	1,080	522	475	403
NOPAT Margin	12.54%	11.30%	10.78%	12.61%	14.30%	14.47%	20.37%	11.03%	10.76%	9.39%
Net Nonoperating Expense Percent (NNEP)	1.68%	2.00%	0.06%	1.05%	1.46%	1.81%	3.41%	2.16%	0.76%	0.19%
Return On Investment Capital (ROIC_SIMPLE)	8.73%	7.93%	6.95%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	61.46%	62.44%	64.18%	60.52%	58.93%	59.88%	60.52%	62.07%	58.48%	59.56%
SG&A Expenses to Revenue	22.62%	22.19%	21.37%	22.22%	22.88%	21.82%	21.94%	21.80%	26.63%	26.24%
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	22.77%	23.11%	22.22%	23.42%	23.23%	22.21%	22.67%	23.13%	26.99%	27.67%
Earnings before Interest and Taxes (EBIT)	1,108	1,007	962	1,032	1,017	984	916	691	645	550
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,317	1,206	1,163	1,225	1,182	1,143	1,067	816	754	655
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.95	3.34	4.65	4.98	5.99	6.07	5.70	4.70	9.35	5.71
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	9.35	0.00
Price to Revenue (P/Rev)	3.11	2.54	3.43	3.48	4.20	3.91	3.41	2.54	2.30	2.22
Price to Earnings (P/E)	13.92	12.95	16.41	15.07	31.48	29.76	19.38	25.21	11.16	12.44
Dividend Yield	2.16%	2.48%	1.82%	1.65%	1.41%	1.45%	1.51%	2.05%	2.14%	2.15%
Earnings Yield	7.18%	7.72%	6.09%	6.64%	3.18%	3.36%	5.16%	3.97%	8.96%	8.04%
Enterprise Value to Invested Capital (EV/IC)	2.84	2.41	2.99	3.05	3.56	3.45	3.03	2.35	12.91	4.02
Enterprise Value to Revenue (EV/Rev)	3.59	3.04	4.04	4.14	4.87	4.60	4.20	3.49	2.22	2.44
Enterprise Value to EBITDA (EV/EBITDA)	18.33	16.79	22.07	21.34	23.07	21.50	20.88	20.22	12.99	15.97
Enterprise Value to EBIT (EV/EBIT)	21.78	20.11	26.67	25.32	26.81	24.97	24.31	23.88	15.18	19.05
Enterprise Value to NOPAT (EV/NOPAT)	28.62	26.91	37.49	32.81	34.03	31.78	20.61	31.60	20.64	25.95
Enterprise Value to Operating Cash Flow (EV/OCF)	26.17	16.37	39.38	31.56	26.19	25.97	27.11	20.23	14.88	17.74
Enterprise Value to Free Cash Flow (EV/FCFF)	32.11	22.04	37.50	0.00	108.73	24.50	29.90	0.00	4.22	22.05
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.82	0.87	1.10	1.19	1.24	1.25	1.48	1.96	0.00	0.83
Long-Term Debt to Equity	0.68	0.66	0.78	0.90	0.95	1.05	1.27	1.73	0.00	0.62
Financial Leverage	0.63	0.74	0.88	0.94	1.00	1.18	1.50	1.13	0.21	0.51
Leverage Ratio	2.49	2.66	2.85	2.99	3.04	3.11	3.59	3.17	2.04	2.54
Compound Leverage Factor	2.02	2.11	2.41	2.59	2.63	2.58	2.90	2.73	1.87	2.30
Debt to Total Capital	44.95%	46.46%	52.29%	54.41%	55.45%	55.57%	59.61%	66.16%	0.00%	45.25%
Short-Term Debt to Total Capital	7.75%	11.29%	15.30%	13.49%	13.01%	8.98%	8.17%	7.68%	0.00%	11.13%
Long-Term Debt to Total Capital	37.21%	35.18%	36.98%	40.93%	42.44%	46.60%	51.44%	58.49%	0.00%	34.12%
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	0.27%	0.24%	0.19%	0.15%	0.16%	0.16%	0.14%	0.14%	0.00%	0.54%
Common Equity to Total Capital	54.78%	53.30%	47.52%	45.44%	44.39%	44.26%	40.25%	33.69%	100.00%	54.20%
Debt to EBITDA	3.30	3.66	4.43	4.31	4.15	3.78	4.40	6.16	0.00	2.13
Net Debt to EBITDA	2.42	2.76	3.33	3.39	3.15	3.20	3.91	5.45	0.00	1.40
Long-Term Debt to EBITDA	2.73	2.77	3.13	3.24	3.18	3.17	3.80	5.45	0.00	1.60
Debt to NOPAT	5.15	5.86	7.52	6.63	6.12	5.59	4.35	9.63	0.00	3.46
Net Debt to NOPAT	3.78	4.42	5.66	5.21	4.65	4.73	3.86	8.51	0.00	2.27
Long-Term Debt to NOPAT	4.26	4.44	5.32	4.99	4.69	4.69	3.75	8.52	0.00	2.61
Altman Z-Score	2.72	2.33	2.50	2.51	2.66	2.85	2.53	1.72	82.51	3.78
Noncontrolling Interest Sharing Ratio	0.47%	0.42%	0.36%	0.34%	0.36%	0.36%	0.39%	0.30%	0.60%	0.97%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.74	0.65	0.70	0.68	0.68	0.72	0.74	0.83	0.00	1.10
Quick Ratio	0.27	0.24	0.26	0.28	0.31	0.31	0.31	0.38	0.00	0.46
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	752	919	684	-110	251	1,003	745	-5,733	2,320	475
Operating Cash Flow to CapEx	335.36%	468.85%	248.66%	297.95%	462.18%	545.08%	485.63%	446.98%	432.68%	460.94%
Free Cash Flow to Firm to Interest Expense	3.59	4.41	4.59	-0.80	1.85	6.07	4.27	-59.90	41.42	8.90
Operating Cash Flow to Interest Expense	4.40	5.94	4.37	6.06	7.68	5.73	4.70	8.52	11.75	11.07
Operating Cash Flow Less CapEx to Interest Expense	3.09	4.68	2.61	4.03	6.02	4.68	3.73	6.61	9.04	8.67
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.52	0.51	0.49	0.51	0.50	0.52	0.51	0.82	1.56	0.97
Accounts Receivable Turnover	11.45	11.47	11.31	11.72	10.86	10.47	9.88	0.00	0.00	9.06
Inventory Turnover	3.49	3.37	3.23	3.45	3.60	4.03	4.06	3.79	3.52	3.59
Fixed Asset Turnover	4.91	5.28	5.43	5.83	5.66	5.65	6.06	0.00	0.00	7.04
Accounts Payable Turnover	3.51	3.63	3.65	3.65	3.51	4.11	4.76	0.00	0.00	6.53
Days Sales Outstanding (DSO)	31.89	31.81	32.28	31.14	33.60	34.85	36.94	0.00	0.00	40.30
Days Inventory Outstanding (DIO)	104.50	108.22	112.94	105.73	101.39	90.48	89.82	96.31	103.79	101.60
Days Payable Outstanding (DPO)	104.10	100.48	100.08	100.07	103.90	88.73	76.76	0.00	0.00	55.91
Cash Conversion Cycle (CCC)	32.29	39.54	45.14	36.79	31.09	36.59	50.00	96.31	103.79	85.99
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,501	8,409	8,575	8,575	7,669	7,118	7,348	7,013	758	2,603
Invested Capital Turnover	0.80	0.78	0.74	0.78	0.76	0.74	0.74	1.22	2.62	1.63
Increase / (Decrease) in Invested Capital	92	-166	0.30	906	550	-230	336	6,254	-1,845	-71
Enterprise Value (EV)	24,129	20,252	25,658	26,138	27,268	24,584	22,266	16,490	9,793	10,466
Market Capitalization	20,919	16,904	21,764	21,974	23,525	20,910	18,089	12,037	10,141	9,532
Book Value per Share	$19.72	$18.86	$17.45	$16.50	$29.43	$25.91	$24.08	$19.54	$8.60	$13.04
Tangible Book Value per Share	($12.13)	($13.25)	($14.62)	($16.37)	($32.23)	($29.40)	($32.13)	($38.18)	$8.60	($3.60)
Total Capital	9,659	9,495	9,849	9,708	8,844	7,781	7,879	7,598	1,084	3,081
Total Debt	4,342	4,411	5,150	5,283	4,904	4,324	4,696	5,027	0.00	1,394
Total Long-Term Debt	3,594	3,340	3,642	3,973	3,754	3,626	4,053	4,444	0.00	1,051
Net Debt	3,184	3,326	3,876	4,150	3,729	3,662	4,166	4,442	-348	916
Capital Expenditures (CapEx)	275	264	262	278	225	174	169	182	152	128
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-182	-192	128	-70	-236	-61	25	66	838	349
Debt-free Net Working Capital (DFNWC)	4.50	-26	462	281	188	94	122	253	838	462
Net Working Capital (NWC)	-744	-1,097	-1,046	-1,028	-963	-604	-522	-330	838	119
Net Nonoperating Expense (NNE)	55	72	2.46	41	54	71	147	44	2.25	1.69
Net Nonoperating Obligations (NNO)	3,184	3,326	3,876	4,150	3,729	3,662	4,166	4,442	-326	916
Total Depreciation and Amortization (D&A)	209	199	201	193	165	159	151	125	109	106
Debt-free, Cash-free Net Working Capital to Revenue	-2.70%	-2.89%	2.01%	-1.11%	-4.21%	-1.14%	0.47%	1.40%	19.00%	8.13%
Debt-free Net Working Capital to Revenue	0.07%	-0.39%	7.27%	4.45%	3.35%	1.76%	2.30%	5.35%	19.00%	10.75%
Net Working Capital to Revenue	-11.06%	-16.47%	-16.47%	-16.27%	-17.19%	-11.30%	-9.84%	-6.98%	19.00%	2.77%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.94	$2.54	$2.54	$2.83	$2.80	$2.65	$3.55	$1.89	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	268.15M	268.24M	268.10M	267.53M	266.94M	265.83M	264.30M	262.21M	0.00	0.00
Adjusted Diluted Earnings per Share	$2.92	$2.52	$2.52	$2.80	$2.78	$2.62	$3.50	$1.86	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	268.15M	268.24M	268.10M	267.53M	266.94M	265.83M	264.30M	262.21M	0.00	0.00
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	268.15M	268.24M	268.10M	267.53M	266.94M	265.83M	264.30M	262.21M	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	851	800	727	856	817	790	651	569	486	449
Normalized NOPAT Margin	12.65%	12.01%	11.45%	13.55%	14.58%	14.78%	12.28%	12.02%	11.02%	10.44%
Pre Tax Income Margin	13.36%	11.99%	12.80%	14.18%	15.74%	15.32%	13.98%	12.57%	13.36%	11.55%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.29	4.84	6.45	7.56	7.50	5.96	5.25	7.22	11.52	10.31
NOPAT to Interest Expense	4.03	3.61	4.59	5.83	5.91	4.68	6.19	5.45	8.47	7.57
EBIT Less CapEx to Interest Expense	3.98	3.57	4.69	5.52	5.84	4.91	4.28	5.31	8.81	7.91
NOPAT Less CapEx to Interest Expense	2.71	2.35	2.83	3.80	4.25	3.63	5.22	3.55	5.76	5.16
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	57.20%	61.49%	58.17%	48.10%	44.17%	43.01%	30.68%	49.77%	46.11%	51.02%
Augmented Payout Ratio	63.93%	66.74%	63.86%	49.24%	50.50%	56.54%	37.36%	78.63%	97.50%	87.33%

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023	11/30/2022	8/31/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.17%	2.58%	-0.29%	-0.96%	2.38%	3.37%	5.58%	7.96%	2.83%	-2.00%	2.98%
EBITDA Growth	-0.55%	2.48%	15.82%	7.24%	12.60%	10.52%	-15.64%	33.10%	-1.60%	-1.10%	14.78%
EBIT Growth	-3.92%	2.09%	18.88%	5.21%	16.42%	13.82%	-19.35%	43.30%	-1.41%	-3.13%	16.34%
NOPAT Growth	0.62%	-1.31%	24.02%	17.20%	11.41%	14.13%	4.40%	31.92%	-6.74%	-4.63%	-19.68%
Net Income Growth	-2.23%	-1.87%	31.16%	21.10%	19.34%	18.09%	-23.69%	28.35%	-10.20%	-5.93%	4.94%
EPS Growth	-3.23%	-2.47%	31.75%	21.43%	19.23%	-73.87%	-23.17%	27.27%	-8.77%	-8.01%	3.80%
Operating Cash Flow Growth	-16.55%	-20.53%	-39.19%	-43.91%	33.85%	43.80%	177.85%	113.04%	477.65%	-11.86%	-33.63%
Free Cash Flow Firm Growth	-63.29%	-65.62%	-72.28%	-15.41%	40.62%	96.46%	49.60%	508.81%	331.55%	129.18%	113.84%
Invested Capital Growth	0.62%	1.09%	1.78%	-0.56%	-1.80%	-1.94%	-1.24%	-1.40%	-0.90%	0.00%	-0.20%
Revenue Q/Q Growth	-10.71%	7.04%	2.23%	2.53%	-8.56%	4.04%	1.54%	5.99%	-7.68%	6.27%	3.83%
EBITDA Q/Q Growth	-21.56%	3.92%	16.70%	4.55%	-19.18%	17.46%	8.05%	9.77%	-20.67%	-10.34%	70.47%
EBIT Q/Q Growth	-25.84%	5.74%	21.58%	0.78%	-21.20%	23.13%	7.60%	11.52%	-22.96%	-12.76%	91.19%
NOPAT Q/Q Growth	-23.37%	-4.39%	17.97%	16.40%	-24.83%	20.16%	11.48%	10.66%	-23.00%	9.91%	40.87%
Net Income Q/Q Growth	-24.58%	-3.54%	21.12%	10.96%	-24.30%	28.92%	11.83%	9.35%	-25.09%	-16.69%	88.10%
EPS Q/Q Growth	-24.05%	-4.82%	22.06%	9.68%	-23.46%	28.57%	12.50%	7.69%	-83.23%	278.05%	86.36%
Operating Cash Flow Q/Q Growth	-74.82%	183.67%	-0.86%	17.85%	-76.02%	117.07%	-8.56%	181.24%	-74.24%	319.44%	-29.89%
Free Cash Flow Firm Q/Q Growth	-10.93%	63.36%	-66.71%	-24.20%	-16.59%	31.70%	1.59%	26.00%	16.54%	0.29%	313.42%
Invested Capital Q/Q Growth	2.05%	-4.35%	2.19%	0.87%	2.52%	-3.70%	-0.15%	-0.38%	2.38%	-3.01%	-0.32%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	37.62%	40.17%	38.69%	37.71%	37.39%	40.01%	36.97%	37.10%	35.96%	36.82%	35.52%
EBITDA Margin	17.99%	20.48%	21.09%	18.48%	18.12%	20.50%	18.16%	17.06%	16.47%	19.17%	22.73%
Operating Margin	14.03%	17.03%	17.06%	14.25%	14.57%	16.96%	14.54%	13.37%	12.71%	15.59%	14.74%
EBIT Margin	14.64%	17.63%	17.84%	15.00%	15.26%	17.71%	14.96%	14.12%	13.42%	16.08%	19.59%
Profit (Net Income) Margin	10.11%	11.97%	13.28%	11.21%	10.36%	12.51%	10.10%	9.17%	8.89%	10.95%	13.97%
Tax Burden Percent	87.02%	81.45%	90.62%	95.14%	85.43%	85.10%	85.31%	83.53%	87.21%	81.34%	81.14%
Interest Burden Percent	79.36%	83.37%	82.15%	78.54%	79.44%	83.02%	79.10%	77.72%	75.92%	83.72%	87.88%
Effective Tax Rate	22.31%	25.44%	16.65%	13.53%	25.53%	22.16%	21.41%	22.13%	21.57%	23.30%	21.59%
Return on Invested Capital (ROIC)	8.48%	10.10%	10.78%	9.44%	8.35%	10.35%	8.59%	7.70%	7.23%	8.85%	8.34%
ROIC Less NNEP Spread (ROIC-NNEP)	8.09%	9.70%	10.33%	8.93%	8.14%	10.02%	8.02%	7.19%	6.81%	8.43%	9.22%
Return on Net Nonoperating Assets (RNNOA)	4.98%	6.07%	6.97%	6.18%	5.82%	7.38%	6.55%	6.04%	5.83%	7.41%	8.90%
Return on Equity (ROE)	13.46%	16.17%	17.75%	15.62%	14.17%	17.73%	15.14%	13.74%	13.06%	16.27%	17.24%
Cash Return on Invested Capital (CROIC)	9.15%	8.89%	7.85%	9.73%	10.67%	10.82%	9.48%	9.55%	8.54%	7.98%	8.04%
Operating Return on Assets (OROA)	7.64%	9.14%	9.10%	7.74%	7.84%	9.08%	7.62%	7.11%	6.56%	7.85%	9.69%
Return on Assets (ROA)	5.27%	6.21%	6.77%	5.79%	5.32%	6.42%	5.14%	4.62%	4.35%	5.34%	6.91%
Return on Common Equity (ROCE)	13.39%	16.09%	17.66%	15.55%	14.11%	17.66%	15.08%	13.69%	13.01%	16.21%	17.17%
Return on Equity Simple (ROE_SIMPLE)	14.47%	0.00%	14.62%	13.88%	13.52%	0.00%	12.81%	14.17%	13.68%	0.00%	15.12%
Net Operating Profit after Tax (NOPAT)	175	228	239	202	174	231	193	173	156	203	184
NOPAT Margin	10.90%	12.70%	14.22%	12.32%	10.85%	13.20%	11.43%	10.41%	9.97%	11.95%	11.56%
Net Nonoperating Expense Percent (NNEP)	0.38%	0.40%	0.44%	0.51%	0.22%	0.33%	0.57%	0.51%	0.42%	0.42%	-0.89%
Return On Investment Capital (ROIC_SIMPLE)	1.79%	2.36%	-	-	-	2.44%	-	-	-	2.06%	-
Cost of Revenue to Revenue	62.38%	59.83%	61.31%	62.29%	62.61%	59.99%	63.03%	62.90%	64.04%	63.18%	64.48%
SG&A Expenses to Revenue	23.59%	23.05%	21.52%	23.35%	22.56%	22.25%	22.06%	22.93%	21.47%	20.43%	20.56%
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	23.59%	23.14%	21.63%	23.46%	22.82%	23.05%	22.43%	23.73%	23.25%	21.24%	20.78%
Earnings before Interest and Taxes (EBIT)	235	317	300	247	245	310	252	234	210	273	313
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	289	368	354	304	290	359	306	283	258	325	363
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.08	3.95	3.97	3.64	3.53	3.34	4.26	4.56	4.01	4.65	4.76
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)	3.29	3.11	3.22	2.90	2.76	2.54	3.26	3.45	3.05	3.43	3.42
Price to Earnings (P/E)	14.78	13.92	14.67	14.21	13.88	12.95	14.86	16.73	14.89	16.41	15.65
Dividend Yield	2.07%	2.16%	2.06%	2.24%	2.31%	2.48%	1.92%	1.81%	2.06%	1.82%	1.78%
Earnings Yield	6.77%	7.18%	6.82%	7.04%	7.21%	7.72%	6.73%	5.98%	6.72%	6.09%	6.39%
Enterprise Value to Invested Capital (EV/IC)	2.93	2.84	2.81	2.62	2.54	2.41	2.89	3.01	2.67	2.99	2.95
Enterprise Value to Revenue (EV/Rev)	3.78	3.59	3.74	3.40	3.26	3.04	3.81	4.04	3.66	4.04	4.09
Enterprise Value to EBITDA (EV/EBITDA)	19.32	18.33	19.09	18.07	17.65	16.79	21.50	21.40	20.21	22.07	22.40
Enterprise Value to EBIT (EV/EBIT)	23.13	21.78	22.67	21.60	21.00	20.11	25.99	25.54	24.42	26.67	26.91
Enterprise Value to NOPAT (EV/NOPAT)	30.10	28.62	29.50	28.44	28.38	26.91	34.81	36.71	34.76	37.49	37.63
Enterprise Value to Operating Cash Flow (EV/OCF)	28.26	26.17	24.00	19.88	17.19	16.37	23.73	29.51	31.77	39.38	37.02
Enterprise Value to Free Cash Flow (EV/FCFF)	32.12	32.11	36.12	26.80	23.56	22.04	30.24	31.28	31.08	37.50	36.71
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.79	0.82	0.84	0.83	0.85	0.87	0.94	0.98	1.07	1.10	1.16
Long-Term Debt to Equity	0.57	0.68	0.61	0.62	0.63	0.66	0.67	0.83	0.74	0.78	0.85
Financial Leverage	0.62	0.63	0.67	0.69	0.72	0.74	0.82	0.84	0.86	0.88	0.96
Leverage Ratio	2.41	2.49	2.49	2.51	2.57	2.66	2.68	2.70	2.75	2.85	2.87
Compound Leverage Factor	1.91	2.08	2.05	1.97	2.04	2.21	2.12	2.10	2.09	2.39	2.52
Debt to Total Capital	44.15%	44.95%	45.70%	45.47%	45.88%	46.46%	48.51%	49.52%	51.58%	52.29%	53.79%
Short-Term Debt to Total Capital	12.42%	7.75%	12.40%	11.60%	11.61%	11.29%	14.13%	7.60%	15.71%	15.30%	14.62%
Long-Term Debt to Total Capital	31.73%	37.21%	33.30%	33.87%	34.27%	35.18%	34.38%	41.93%	35.86%	36.98%	39.17%
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	0.27%	0.27%	0.29%	0.27%	0.26%	0.24%	0.21%	0.20%	0.17%	0.19%	0.17%
Common Equity to Total Capital	55.58%	54.78%	54.00%	54.26%	53.86%	53.30%	51.28%	50.27%	48.25%	47.52%	46.04%
Debt to EBITDA	3.28	3.30	3.51	3.55	3.60	3.66	4.08	3.96	4.49	4.43	4.60
Net Debt to EBITDA	2.45	2.42	2.63	2.65	2.72	2.76	3.12	3.08	3.36	3.33	3.63
Long-Term Debt to EBITDA	2.35	2.73	2.56	2.64	2.69	2.77	2.89	3.35	3.13	3.13	3.35
Debt to NOPAT	5.10	5.15	5.42	5.58	5.78	5.86	6.60	6.79	7.73	7.52	7.73
Net Debt to NOPAT	3.82	3.78	4.06	4.18	4.37	4.42	5.06	5.29	5.78	5.66	6.10
Long-Term Debt to NOPAT	3.67	4.26	3.95	4.16	4.32	4.44	4.68	5.75	5.37	5.32	5.63
Altman Z-Score	2.67	2.52	2.54	2.39	2.32	2.15	2.46	2.57	2.20	2.33	2.41
Noncontrolling Interest Sharing Ratio	0.48%	0.47%	0.48%	0.45%	0.42%	0.42%	0.39%	0.38%	0.36%	0.36%	0.38%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.65	0.74	0.71	0.69	0.68	0.65	0.67	0.85	0.73	0.70	0.77
Quick Ratio	0.20	0.27	0.27	0.26	0.25	0.24	0.25	0.28	0.28	0.26	0.29
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	122	137	84	251	332	398	302	297	236	202	202
Operating Cash Flow to CapEx	311.32%	535.86%	274.07%	238.80%	223.23%	752.54%	387.61%	509.28%	168.13%	421.64%	146.78%
Free Cash Flow to Firm to Interest Expense	2.51	2.59	1.56	4.75	6.59	7.55	5.73	5.69	4.66	4.56	5.33
Operating Cash Flow to Interest Expense	2.38	8.70	3.02	3.08	2.75	10.95	5.05	5.57	2.04	9.04	2.53
Operating Cash Flow Less CapEx to Interest Expense	1.62	7.08	1.92	1.79	1.52	9.50	3.74	4.48	0.83	6.90	0.80
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.52	0.52	0.51	0.52	0.51	0.51	0.51	0.50	0.49	0.49	0.49
Accounts Receivable Turnover	12.41	11.45	10.39	11.57	11.77	11.47	11.10	12.41	11.76	11.31	11.54
Inventory Turnover	3.48	3.49	3.33	3.40	3.36	3.37	3.21	3.16	3.18	3.23	3.12
Fixed Asset Turnover	4.90	4.91	4.97	5.11	5.19	5.28	5.45	5.46	5.42	5.43	5.67
Accounts Payable Turnover	3.60	3.51	3.53	3.58	3.69	3.63	3.73	3.72	3.75	3.65	3.72
Days Sales Outstanding (DSO)	29.42	31.89	35.13	31.56	31.01	31.81	32.89	29.42	31.05	32.28	31.63
Days Inventory Outstanding (DIO)	104.94	104.50	109.64	107.30	108.53	108.22	113.75	115.35	114.77	112.94	116.86
Days Payable Outstanding (DPO)	101.40	104.10	103.40	101.83	99.03	100.48	97.96	97.99	97.39	100.08	98.06
Cash Conversion Cycle (CCC)	32.96	32.29	41.36	37.03	40.52	39.54	48.68	46.78	48.42	45.14	50.43
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,675	8,501	8,888	8,697	8,621	8,409	8,732	8,746	8,779	8,575	8,842
Invested Capital Turnover	0.78	0.80	0.76	0.77	0.77	0.78	0.75	0.74	0.73	0.74	0.72
Increase / (Decrease) in Invested Capital	53	92	155	-49	-158	-166	-109	-125	-80	0.30	-17
Enterprise Value (EV)	25,404	24,129	24,964	22,754	21,866	20,252	25,193	26,299	23,414	25,658	26,117
Market Capitalization	22,152	20,919	21,498	19,385	18,477	16,904	21,510	22,490	19,505	21,764	21,865
Book Value per Share	$20.22	$19.72	$20.18	$19.85	$19.50	$18.86	$18.82	$18.41	$18.17	$17.45	$17.11
Tangible Book Value per Share	($11.53)	($12.13)	($11.87)	($12.18)	($12.55)	($13.25)	($13.30)	($13.68)	($13.95)	($14.62)	($14.97)
Total Capital	9,757	9,659	10,039	9,819	9,714	9,495	9,847	9,820	10,094	9,849	9,969
Total Debt	4,308	4,342	4,588	4,465	4,457	4,411	4,777	4,864	5,206	5,150	5,362
Total Long-Term Debt	3,096	3,594	3,343	3,326	3,329	3,340	3,385	4,118	3,620	3,642	3,905
Net Debt	3,225	3,184	3,437	3,343	3,364	3,326	3,662	3,789	3,892	3,876	4,235
Capital Expenditures (CapEx)	37	86	59	68	62	77	69	57	62	95	65
Debt-free, Cash-free Net Working Capital (DFCFNWC)	20	-182	144	58	-3.70	-192	194	235	320	128	386
Debt-free Net Working Capital (DFNWC)	123	4.50	345	224	174	-26	348	363	676	462	729
Net Working Capital (NWC)	-1,089	-744	-900	-915	-954	-1,097	-1,044	-383	-910	-1,046	-728
Net Nonoperating Expense (NNE)	13	13	16	18	7.89	12	22	21	17	17	-38
Net Nonoperating Obligations (NNO)	3,225	3,184	3,437	3,343	3,364	3,326	3,662	3,789	3,892	3,876	4,235
Total Depreciation and Amortization (D&A)	54	51	55	57	46	49	54	49	48	52	50
Debt-free, Cash-free Net Working Capital to Revenue	0.30%	-2.70%	2.16%	0.86%	-0.06%	-2.89%	2.93%	3.61%	5.00%	2.01%	6.04%
Debt-free Net Working Capital to Revenue	1.83%	0.07%	5.16%	3.35%	2.60%	-0.39%	5.27%	5.57%	10.58%	7.27%	11.42%
Net Working Capital to Revenue	-16.19%	-11.06%	-13.48%	-13.69%	-14.23%	-16.47%	-15.80%	-5.88%	-14.23%	-16.47%	-11.40%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.60	$0.80	$0.83	$0.69	$0.62	$0.82	$0.63	$0.57	$0.52	$3.10	$0.83
Adjusted Weighted Average Basic Shares Outstanding	268.30M	268.15M	268.60M	268.60M	268.40M	268.24M	268.40M	268.40M	268.20M	268.10M	268.30M
Adjusted Diluted Earnings per Share	$0.60	$0.79	$0.83	$0.68	$0.62	$0.81	$0.63	$0.56	$0.52	$3.10	$0.82
Adjusted Weighted Average Diluted Shares Outstanding	269.50M	268.15M	269.70M	269.70M	269.60M	268.24M	270.10M	269.80M	269.80M	268.10M	270.20M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.10	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	268.19M	268.15M	268.36M	268.63M	268.41M	268.24M	268.33M	268.33M	268.23M	268.10M	268.21M
Normalized Net Operating Profit after Tax (NOPAT)	175	230	240	204	177	242	197	183	178	213	187
Normalized NOPAT Margin	10.90%	12.76%	14.31%	12.41%	11.05%	13.82%	11.71%	11.03%	11.36%	12.57%	11.73%
Pre Tax Income Margin	11.62%	14.69%	14.66%	11.78%	12.12%	14.70%	11.84%	10.98%	10.19%	13.46%	17.22%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.85	6.01	5.60	4.66	4.86	5.89	4.78	4.49	4.15	6.14	8.25
NOPAT to Interest Expense	3.61	4.33	4.46	3.83	3.46	4.39	3.65	3.31	3.08	4.57	4.87
EBIT Less CapEx to Interest Expense	4.08	4.39	4.50	3.37	3.63	4.43	3.48	3.39	2.94	4.00	6.53
NOPAT Less CapEx to Interest Expense	2.84	2.71	3.36	2.54	2.22	2.93	2.35	2.21	1.87	2.42	3.15
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	58.49%	57.20%	55.89%	58.79%	60.30%	61.49%	63.83%	58.26%	60.39%	58.17%	55.99%
Augmented Payout Ratio	67.41%	63.93%	60.69%	61.71%	64.89%	66.74%	69.92%	64.62%	65.43%	63.86%	60.53%

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. Check out McCormick & Company, Incorporated's forecast to explore projected trends and price targets.

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 5/29/2025 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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