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MKC-V

McCormick & Company, Incorporated

MKC-V

McCormick & Company, Incorporated • NYSE
$67.31 ▼ -0.21% (-0.14)
Market Cap $18.07 B
52w High $85.50
52w Low $62.92
Dividend Yield 1.92%
P/E 23.37
Volume 473
Outstanding Shares 268.50M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.725B ▲ $356.4M ▼ $225.5M ▲ 13.073% ▲ $0.84 ▲ $359.3M ▲
Q2-2025 $1.659B ▲ $377M ▼ $175M ▲ 10.545% ▲ $0.65 ▲ $312.7M ▲
Q1-2025 $1.605B ▼ $378.8M ▼ $162.3M ▼ 10.109% ▼ $0.6 ▲ $288.8M ▼
Q4-2024 $1.798B ▲ $416M ▲ $215.2M ▼ 11.969% ▼ $-2.14 ▼ $368.2M ▲
Q3-2024 $1.68B $361.5M $223.1M 13.281% $0.83 $354.3M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $94.9M ▼ $13.247B ▲ $7.463B ▼ $5.753B ▲
Q2-2025 $124.1M ▲ $13.19B ▲ $7.56B ▲ $5.601B ▲
Q1-2025 $102.8M ▼ $12.9B ▼ $7.45B ▼ $5.423B ▲
Q4-2024 $186.1M ▼ $13.07B ▼ $7.753B ▼ $5.291B ▼
Q3-2024 $200.8M $13.205B $7.754B $5.421B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $225.5M ▲ $258.8M ▲ $-67M ▲ $-235.4M ▼ $-29.2M ▼ $344.2M ▲
Q2-2025 $175M ▲ $45.9M ▼ $-68.1M ▼ $12.3M ▲ $21.3M ▲ $-2.4M ▼
Q1-2025 $162.3M ▼ $115.5M ▼ $-37.1M ▲ $-155.2M ▲ $-83.3M ▼ $78.4M ▼
Q4-2024 $215.2M ▼ $458.7M ▲ $-79.9M ▼ $-377.2M ▼ $-14.7M ▼ $648M ▲
Q3-2024 $223.1M $161.7M $-59M $-33.7M $34.5M $102.7M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Consumer
Consumer
 $1.09Bn ▲$920.00M ▼$930.00M ▲$970.00M ▲
Flavor Solutions
Flavor Solutions
 $710.00M ▲$690.00M ▼$730.00M ▲$750.00M ▲

Five-Year Company Overview

Income Statement

Income Statement McCormick’s income statement shows a steady, slow‑and‑reliable growth story rather than rapid expansion. Sales have inched higher each year, even through a challenging environment, which is typical of a consumer staples company with everyday products. Profitability dipped a bit in the middle of the period as costs rose, but operating and net income have since recovered, suggesting the company has been able to adjust pricing and efficiency to protect margins. Earnings per share have followed a similar pattern: temporarily pressured, then improving, which points to a resilient, but not explosive, earnings profile.

Balance Sheet

Balance Sheet The balance sheet looks solid and relatively stable over time. Total assets have been broadly flat to slightly higher, indicating a mature business that is not heavily asset‑hungry. Debt remains meaningful but has started to trend down from its peak, while shareholders’ equity has climbed steadily, which implies gradual strengthening of the capital base. Cash on hand is modest rather than abundant, so the company appears to rely more on ongoing cash generation and credit access than on a large cash buffer, but overall the financial structure looks balanced for a defensive consumer company.

Cash Flow

Cash Flow Cash flow has been generally healthy but somewhat up and down year to year. Operating cash flow was soft at one point, then rebounded strongly, with recent years again showing solid generation. Free cash flow follows the same path, as investment spending on factories and logistics has been fairly steady and manageable. The pattern suggests a business that consistently produces cash over time, even if individual years can be lumpy due to working capital swings or temporary pressures. Overall, McCormick appears capable of funding its investments and shareholder returns from internal cash, with room to gradually reduce debt when conditions are favorable.

Competitive Edge

Competitive Edge McCormick holds a very strong competitive position in the global flavor and spices market. Its well‑known brands, like McCormick, French’s, Frank’s RedHot, and Old Bay, give it prime shelf space and strong customer loyalty. The company’s global scale, deep ties with major retailers, food manufacturers, and foodservice customers, and its presence in many countries create high barriers for smaller rivals. Its focus on sustainable sourcing and long‑term farmer partnerships further strengthens its reputation and supply security, making it harder for new entrants to match its reliability, quality, and reach. In short, this is a market leader with a durable moat built on brand, scale, and supply chain expertise.

Innovation and R&D

Innovation and R&D Innovation is a major pillar of McCormick’s strategy rather than an afterthought. The company uses advanced tools like an AI platform developed with IBM to speed up flavor creation and improve hit rates on new products. Proprietary technologies such as FlavorCell and FONA’s Optify give it technical advantages in taste, especially in health‑focused products. McCormick also invests in modern, automated logistics to cut costs and improve service. Programs like the annual Flavor Forecast, co‑creation with customers in its Flavor Solutions unit, and targeted offerings in heat, health, plant‑based, and convenience keep its pipeline aligned with shifting consumer trends. Sustainability initiatives and farmer programs are woven into this innovation agenda, supporting both brand strength and long‑term supply resilience.

Summary

Overall, McCormick looks like a classic, mature consumer defensive business with some modern twists. Financially, it shows slow, steady revenue growth, improving profitability after a period of cost pressure, and generally solid cash generation. The balance sheet carries noticeable debt but is gradually improving as equity builds and leverage eases. Strategically, the company benefits from powerful brands, global scale, and deeply entrenched customer relationships, which together provide a strong competitive moat. Its active use of technology, data, and co‑development with customers—combined with a focus on heat, health, convenience, and sustainability—positions it to keep refreshing its product lineup without needing to reinvent the business model. Key watchpoints include how well it can sustain margin improvement, continue organic growth without acquisitions, and steadily bring debt down while funding ongoing innovation and supply chain upgrades.

NEWS

October 7, 2025 · 6:30 AM UTC

McCORMICK REPORTS THIRD QUARTER PERFORMANCE, REAFFIRMS STRONG SALES GROWTH, AND UPDATES 2025 PROFITABILITY OUTLOOK

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