NYSE: MKC
McCormick
Consumer Staples · Miscellaneous Food Preparations & Kindred Products
52-week range
$43.25$72.41
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Aug 31, 2026. Hover or tap a column for another year.$14.6B
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| Period | Market cap |
|---|---|
| FY2016, ended Nov 30, 2016 | $11.4B |
| FY2017, ended Nov 30, 2017 | $13.4B |
| FY2018, ended Nov 30, 2018 | $19.8B |
| FY2019, ended Nov 30, 2019 | $22.5B |
| FY2020, ended Nov 30, 2020 | $25.0B |
| FY2021, ended Nov 30, 2021 | $23.0B |
| FY2022, ended Nov 30, 2022 | $22.8B |
| FY2023, ended Nov 30, 2023 | $17.4B |
| FY2024, ended Nov 30, 2024 | $21.0B |
| FY2025, ended Nov 30, 2025 | $18.1B |
| Trailing 12 months to Aug 31, 2026 (through Q3 FY2026) | $14.6B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Aug 31, 2026. Hover or tap a column for another year.$7.69B
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| Period | Revenue |
|---|---|
| FY2016, ended Nov 30, 2016 | $4.41B |
| FY2017, ended Nov 30, 2017 | $4.83B |
| FY2018, ended Nov 30, 2018 | $5.30B |
| FY2019, ended Nov 30, 2019 | $5.35B |
| FY2020, ended Nov 30, 2020 | $5.60B |
| FY2021, ended Nov 30, 2021 | $6.32B |
| FY2022, ended Nov 30, 2022 | $6.35B |
| FY2023, ended Nov 30, 2023 | $6.66B |
| FY2024, ended Nov 30, 2024 | $6.72B |
| FY2025, ended Nov 30, 2025 | $6.84B |
| Trailing 12 months to Aug 31, 2026 (through Q3 FY2026) | $7.69B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Aug 31, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Nov 30, 2016 | $472M | $504M |
| FY2017, ended Nov 30, 2017 | $477M | $633M |
| FY2018, ended Nov 30, 2018 | $933M | $652M |
| FY2019, ended Nov 30, 2019 | $703M | $773M |
| FY2020, ended Nov 30, 2020 | $747M | $816M |
| FY2021, ended Nov 30, 2021 | $755M | $550M |
| FY2022, ended Nov 30, 2022 | $682M | $390M |
| FY2023, ended Nov 30, 2023 | $681M | $973M |
| FY2024, ended Nov 30, 2024 | $789M | $647M |
| FY2025, ended Nov 30, 2025 | $789M | $740M |
| Trailing 12 months to Aug 31, 2026 (through Q3 FY2026) | $1.49B | $926M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Aug 31, 2026. Hover or tap a column for another year.$331M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Nov 30, 2016 | $118M |
| FY2017, ended Nov 30, 2017 | $187M |
| FY2018, ended Nov 30, 2018 | $96.6M |
| FY2019, ended Nov 30, 2019 | $155M |
| FY2020, ended Nov 30, 2020 | $424M |
| FY2021, ended Nov 30, 2021 | $352M |
| FY2022, ended Nov 30, 2022 | $334M |
| FY2023, ended Nov 30, 2023 | $167M |
| FY2024, ended Nov 30, 2024 | $186M |
| FY2025, ended Nov 30, 2025 | $95.9M |
| Trailing 12 months to Aug 31, 2026 (through Q3 FY2026) | $331M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Aug 31, 2026. Hover or tap a column for another year.$5.02B
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| Period | Total debt |
|---|---|
| FY2016, ended Nov 30, 2016 | $1.45B |
| FY2017, ended Nov 30, 2017 | $5.03B |
| FY2018, ended Nov 30, 2018 | $4.70B |
| FY2019, ended Nov 30, 2019 | $4.32B |
| FY2020, ended Nov 30, 2020 | $4.90B |
| FY2021, ended Nov 30, 2021 | $5.28B |
| FY2022, ended Nov 30, 2022 | $5.15B |
| FY2023, ended Nov 30, 2023 | $4.41B |
| FY2024, ended Nov 30, 2024 | $4.34B |
| FY2025, ended Nov 30, 2025 | $4.00B |
| Trailing 12 months to Aug 31, 2026 (through Q3 FY2026) | $5.02B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 7.5% since 2016.Figures shown are for the trailing 12 months to Aug 31, 2026. Hover or tap a column for another year.269M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Nov 30, 2016 | 250M |
| FY2017, ended Nov 30, 2017 | 262M |
| FY2018, ended Nov 30, 2018 | 264M |
| FY2019, ended Nov 30, 2019 | 266M |
| FY2020, ended Nov 30, 2020 | 267M |
| FY2021, ended Nov 30, 2021 | 268M |
| FY2022, ended Nov 30, 2022 | 268M |
| FY2023, ended Nov 30, 2023 | 268M |
| FY2024, ended Nov 30, 2024 | 268M |
| FY2025, ended Nov 30, 2025 | 268M |
| Trailing 12 months to Aug 31, 2026 (through Q3 FY2026) | 269M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Aug 31, 2026. Hover or tap a column for another year.Net: $26.9M more issued than bought back
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| Period | Bought back | Paid to employees | Sold for cash |
|---|---|---|---|
| FY2016, ended Nov 30, 2016 | $243M | $25.6M | $0 |
| FY2017, ended Nov 30, 2017 | $138M | $23.9M | $554M |
| FY2018, ended Nov 30, 2018 | $62.3M | $25.6M | $0 |
| FY2019, ended Nov 30, 2019 | $95.1M | $37.2M | $0 |
| FY2020, ended Nov 30, 2020 | $47.3M | $46.0M | — |
| FY2021, ended Nov 30, 2021 | $8.60M | $66.6M | — |
| FY2022, ended Nov 30, 2022 | $38.8M | $60.3M | — |
| FY2023, ended Nov 30, 2023 | $35.7M | $63.4M | — |
| FY2024, ended Nov 30, 2024 | $53.1M | $47.4M | — |
| FY2025, ended Nov 30, 2025 | $34.8M | $46.2M | — |
| Trailing 12 months to Aug 31, 2026 (through Q3 FY2026) | $16.5M | $43.4M | — |
Revenue (TTM)
$7.69B
+13.2% YoY
Net income (TTM)
$1.49B
+91.6% YoY
Cash
$331M
+249% YoY
Total debt
$5.02B
+15.1% YoY
Valuation
At current price- Market Cap
- $12.7B
- P/E
- 8.5×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 1.7×
- Price / Book
- 1.8×
- EV / EBITDA
- 13.3×
Growth
Trailing 12 months- Revenue (TTM)
- $7.69B
- Revenue Growth YoY
- 13.2%
- Revenue CAGR 3Y
- 2.5%
- Revenue CAGR 5Y
- 4.1%
- EPS Growth YoY
- 92.0%
- Net Income Growth YoY
- 91.6%
Profitability
Trailing 12 months- Gross Margin
- 39.1%
- Operating Margin
- 13.4%
- Net Margin
- 19.4%
- FCF Margin
- 12.0%
- Return on Equity
- 23.4%
Earnings
Trailing 12 months- Net Income
- $1.49B
- EPS (diluted)
- $5.53
- EBITDA
- $1.30B
- Operating Income
- $1.03B
Balance Sheet
As of Aug 31, 2026- Cash and cash equivalents
- $331M
- Total Debt
- $5.02B
- Net Debt
- $4.69B
- Total Assets
- $16.7B
- Total Liabilities
- $9.06B
- Shareholders' Equity
- $7.00B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.14B
- Capital Expenditure
- $215M
- Free Cash Flow
- $926M
Dividends and risk
Last 12 months- Dividend Yield
- 4.1%
- Dividend / Share
- $1.92
- Beta (5Y)
- 0.64
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 13.2% year over year, at $7.69B.
Watch
Operating margin narrowed 2.3 pts in a year, to 13.4%.
Watch
Net debt is 3.6× EBITDA ($4.69B), a heavy load.
Note
Free cash flow of $926M, 12.0% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Aug 31, 2026 · filed Oct 1, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K58Nothing notable
58Nothing notable
10-K for the fiscal year ended Nov 30, 2025
Filed Jan 22, 2026 · Read the filing on EDGAR
- Sales rose 1.7% to $6.84 billion and operating income rose 1.0% to $1.07 billion, while earnings per share barely moved, $2.93 versus $2.92.
- Consumer, the largest segment, saw profit dip 0.7% despite higher sales, while Flavor Solutions profit rose 9.0%. Tariffs and commodity costs reduced gross margin.
- On January 2, 2026, McCormick paid $750 million to raise its McCormick de Mexico stake to 75%, gaining control.
- For 2026, management expects sales up 13% to 17%, mostly from the Mexico deal, and adjusted earnings per share of $3.05 to $3.13.
Business momentum
Mixed
“Segment operating income for our Consumer segment decreased by $5.4 million, or 0.7%, in 2025 as compared to 2024, driven by a decrease in gross profit, partially offset by a decrease in SG&A expense.”
Outlook
Positive
“In 2026, we expect an increase in adjusted operating income of 16% to 20% compared to 2025, including a 1% favorable impact from foreign currency rates”
Financial stress
Low
“We believe that our sources of liquidity, which include existing cash balances, cash flows from operations, existing credit facilities, our commercial paper program, and access to capital markets, will provide sufficient liquidity to meet our debt obligations”
Tone against the previous report
About the same
Red flags
None found in this report.
Positives
Sales growth came mainly from volume and product mix
“Volume and product mix favorably impacted net sales growth by 1.2%.”
Flavor Solutions profit grew strongly
“Segment operating income for our Flavor Solutions segment increased by $29.6 million, or 9.0%, in 2025 as compared to 2024 driven by an increase in gross profit and lower SG&A expense.”
Control of McCormick de Mexico should lift 2026 results
“Our fiscal 2026 outlook also reflects meaningful contributions from the acquisition of a controlling interest in McCormick de Mexico, which closed on January 2, 2026.”
Concerns
Gross margin fell on higher costs and tariffs
“Our gross profit margin was 37.9%, a decrease of 60 basis points, driven by increased commodity costs including the impact of tariffs, unfavorable product mix, and increased conversion cost including costs to support capacity for future growth”
Cost inflation is expected to continue
“we expect inflation to continue in 2026 at a similar level to that experienced in 2025”
Profit growth relied partly on lower bonus and distribution costs
“SG&A expense decreased by $20.9 million in 2025 as compared to 2024, driven primarily by lower performance-based employee compensation expense, lower distribution expense, and CCI-led cost savings”
New risks since the previous report
Tariffs and trade policy are raising costs
“Changes in global trade policies, including tariffs, have caused inflationary pressures and higher costs on certain raw materials and imports.”
Integrating the larger McCormick de Mexico stake
“These acquisitions, such as the additional 25% incremental ownership acquired in McCormick de Mexico on January 2, 2026, joint ventures and divestitures may present financial, managerial and operational challenges”
More short-term borrowing to pay for the Mexico deal
“The purchase of the additional 25% ownership interest was funded through a combination of cash on hand and commercial paper.”
US government pressure on food ingredients
“In April 2025, the Food and Drug Administration (FDA) called on the industry to phase out all “petroleum-based synthetic dyes” from the nation’s food supply”
Biggest risks named
- Tariffs and cost inflation that price increases may not offset
- Shoppers switching to private label or rival brands
- About $4.0 billion of debt, plus borrowing for acquisitions
- Reliance on two large customers providing about 24% of sales
- Possible write-downs of about $8.3 billion in goodwill and brand assets
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | −3 | |
| Outlook | +3 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −2 | |
| Score | 58 | |
Written by AI (Claude Opus 5.5) from the report’s text. 13 of 13 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 1, 2026 | Pro | |||
| 10-K | Jan 22, 2026 | 58 | Mixed | None | |
| 10-K | Jan 23, 2025 | 67 | Improving | None | |
| 10-K | Jan 25, 2024 | 69 | Improving | None | |
| 10-K | Jan 26, 2023 | 56 | Mixed | None | |
| 10-K | Jan 27, 2022 | 67 | Improving | None | |
| 10-K | Jan 28, 2021 | 67 | Improving | None | |
| 10-K | Jan 28, 2020 | 67 | Improving | None | |
| 10-K | Jan 25, 2019 | 73 | Strong improvement | None | |
| 10-K | Jan 25, 2018 | 66 | Improving | 1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Aug 31, 2026), filed Oct 1, 2026. View filings on SEC EDGAR