McCormick & Company, IncorporatedMKCNYSE
Loading
Executive Summary
Latest Data: Nov 2025Consumer Defensive•Packaged Foods
$19.2BLarge Cap
A mid-sized company, with solid profitability valued in line with the market.
Key Investment Themes
Mature business (2% growth)
Solid 12% profitability
Business Narrative
McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.
Consumer DefensivePackaged Foods
Mature & Stable
high confidence
Revenue Mix
Single segment business
Bull Case
- +Solid profitability with room for margin expansion
Company at a Glance
Business Performance
Key Highlights
Watch Areas
- Current liabilities exceed current assets
Financial Health
Liquidity
Concern
Current Ratio0.70
<1.0 = Weak
Cash & Equivalents$96M
Leverage
Strong
Debt / Equity0.70
<1.0 = Low leverage
Interest Coverage5.57x
≥5x = Comfortable
Efficiency
Concern
Return on Equity13.8%
8-15% = Fair
Return on Capital7.9%
<8% = Weak
Valuation Assessment
Market Cap
$19.2B
Large Cap
P/E (TTM)
24.3x
In-line
vs 5Y avg: 27.7x (-12%)
P/S (TTM)
2.8x
In-line
vs 5Y avg: 3.1x (-10%)
EV/EBITDA
18.0x
In-line
vs 5Y avg: 20.1x
(-10%)
(-10%)
P/E Historical Range (5Y)
Min: 22.6xAvg: 27.7xNow: 24.3xMax: 33.5x
P/S Historical Range (5Y)
Min: 2.6xAvg: 3.1xNow: 2.8xMax: 3.6x
EV/EBITDA Historical Range (5Y)
Min: 16.2xAvg: 20.1xNow: 18.0xMax: 23.9x
Valuation Corridor
FAIR
FCF Yield
4.6%
vs Cost of Capital ~8.0% = Moderate
P/E Corridor (5Y)24.3x
22.6xFair: 23.5x-32.0x33.5x
P/S Corridor (5Y)2.8x
2.6xFair: 2.6x-3.6x3.6x
EV/EBITDA Corridor (5Y)18.0x
16.2xFair: 16.8x-23.4x23.9x
Detailed Financials
Comprehensive financial statement data for deep analysis
| Metric | Nov 21 | Nov 22 | Nov 23 | Nov 24 | Nov 25 |
|---|---|---|---|---|---|
| Return on Equity | - | - | - | - | - |
| Return on Invested Capital | - | - | - | - | - |
| Gross Margin | 39.5% | 35.8%↓9.3% | 37.6%↑4.9% | 38.5%↑2.6% | 37.9%↓1.7% |
| Operating Margin | 16.1% | 13.6%↓15.4% | 14.5%↑6.3% | 15.8%↑9.1% | 16.0%↑1.2% |
| Net Margin | 12.0% | 10.7%↓10.2% | 10.2%↓4.9% | 11.7%↑14.8% | 11.5%↓1.6% |
| Earnings Yield | - | - | - | - | - |
Page 1 of 2