MKC

MKT CAP:$14B

McCormick & Company, Incorporated

Market Cap

$14B

Consumer Defensive·Packaged Foods·🇺🇸 United States·NYSE

Consumer Def.·Packaged Foods·🇺🇸·NYSE

Stock Price

$52.02-$15.26 (-22.68%)

Apr 24, 2026

Company Details

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 segmen...

CEO

Brendan Foley

IPO Date

Apr 26, 1999

Website

www.mccormickcorporation.com

Key Metrics TTM

Revenue

$7.1B

+5.7% YoY

Net Income

$1.6B

EPS (Diluted)

$6.10

Free Cash Flow

$851M

Revenue / Share

$26.39

Gross Margin

37.9%

Operating Margin

15.5%

Net Margin

23.1%

FCF Margin

12.0%

P/S

1.9x

P/E

8.4x

Earnings Reports

Q1 2026

Mar 31, 2026

$1.9B+16.7%EPS $3.77

FY 2025

Jan 22, 2026

$6.8B+1.7%EPS $2.93

Q4 2025

Jan 22, 2026

$1.9B+2.9%EPS $0.84

Q3 2025

Oct 7, 2025

$1.7B+2.7%EPS $0.84

Q2 2025

Jun 26, 2025

$1.7B+1.0%EPS $0.65

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$1.5B	$523M	$157M
Q3 22	$1.6B	$567M	$235M
Q4 22	$1.7B	$624M	$264M
Q1 23	$1.6B	$563M	$199M
Q2 23	$1.7B	$616M	$222M
Q3 23	$1.7B	$623M	$245M
Q4 23	$1.8B	$701M	$297M
Q1 24	$1.6B	$599M	$234M
Q2 24	$1.6B	$620M	$234M
Q3 24	$1.7B	$650M	$287M
Q4 24	$1.8B	$722M	$306M
Q1 25	$1.6B	$604M	$225M
Q2 25	$1.7B	$623M	$246M
Q3 25	$1.7B	$645M	$289M
Q4 25	$1.9B	$720M	$316M
Q1 26	$1.9B	$709M	$253M

Valuation

Quarter	P/S	P/E
Q2 22	3.8x	35.2x
Q3 22	3.6x	33.2x
Q4 22	3.5x	32.9x
Q1 23	3.1x	30.2x
Q2 23	3.7x	34.0x
Q3 23	3.3x	34.0x
Q4 23	2.6x	25.6x
Q1 24	2.7x	25.8x
Q2 24	2.9x	26.1x
Q3 24	3.2x	26.8x
Q4 24	3.1x	26.7x
Q1 25	3.4x	29.0x
Q2 25	2.9x	25.4x
Q3 25	2.8x	24.4x
Q4 25	2.6x	22.6x
Q1 26	2.6x	11.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	$137M	$79M
Q3 22	$96M	$31M
Q4 22	$401M	$306M
Q1 23	$103M	$42M
Q2 23	$291M	$234M
Q3 23	$266M	$197M
Q4 23	$577M	$501M
Q1 24	$138M	$76M
Q2 24	$163M	$95M
Q3 24	$162M	$103M
Q4 24	$459M	$373M
Q1 25	$116M	$78M
Q2 25	$46M	-$2M
Q3 25	$259M	$344M
Q4 25	$542M	$458M
Q1 26	$51M	$51M

Capital Expenditures

Quarter	CapEx
Q2 22	$58M
Q3 22	$65M
Q4 22	$95M
Q1 23	$62M
Q2 23	$57M
Q3 23	$69M
Q4 23	$77M
Q1 24	$62M
Q2 24	$68M
Q3 24	$59M
Q4 24	$86M
Q1 25	$37M
Q2 25	$48M
Q3 25	$85M
Q4 25	$84M
Q1 26	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	-1.3%	+4.6%
Q3 22	+3.0%	+5.9%
Q4 22	-2.0%	-1.6%
Q1 23	+2.8%	+3.9%
Q2 23	+8.0%	+4.2%
Q3 23	+5.6%	+5.8%
Q4 23	+3.4%	+1.7%
Q1 24	+2.4%	+0.2%
Q2 24	-1.0%	-2.0%
Q3 24	-0.3%	-3.2%
Q4 24	+2.6%	+2.5%
Q1 25	+0.2%	+0.8%
Q2 25	+1.0%	+0.3%
Q3 25	+2.7%	+3.1%
Q4 25	+2.9%	+2.9%
Q1 26	+16.7%	+17.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$26M	1.7%
Q3 22	$12M	0.8%
Q4 22	$11M	0.7%
Q1 23	$12M	0.8%
Q2 23	$27M	1.6%
Q3 23	$13M	0.7%
Q4 23	$12M	0.7%
Q1 24	$12M	0.7%
Q2 24	$19M	1.2%
Q3 24	$9M	0.5%
Q4 24	$8M	0.4%
Q1 25	$20M	1.2%
Q2 25	$10M	0.6%
Q3 25	$8M	0.4%
Q4 25	$9M	0.5%
Q1 26	$21M	1.1%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q2 22	—	—	$349M
Q3 22	$326M	—	—
Q4 22	—	—	$354M
Q1 23	—	—	$336M
Q2 23	—	—	$381M
Q3 23	$369M	$3M	—
Q4 23	—	—	$398M
Q1 24	—	—	$362M
Q2 24	—	—	$384M
Q3 24	—	—	$362M
Q4 24	—	—	$414M
Q1 25	—	—	$379M
Q2 25	—	—	$364M
Q3 25	—	—	$353M
Q4 25	—	—	$405M
Q1 26	—	—	$456M

Revenue Segments

Quarter	Consumer	Flavor Solutions
Q2 22	$866M	$671M
Q3 22	$928M	$668M
Q4 22	$1.0B	$658M
Q1 23	$910M	$656M
Q2 23	$912M	$747M
Q3 23	$937M	$748M
Q4 23	$1.0B	$704M
Q1 24	$922M	$681M
Q2 24	$905M	$739M
Q3 24	$937M	$742M
Q4 24	$1.1B	$713M
Q1 25	$919M	$686M
Q2 25	$931M	$729M
Q1 26	$1.1B	$729M

Revenue by Geography

Quarter	Americas	Asia Pacific	Europe Middle East And Africa
Q2 22	$1.1B	$146M	$288M
Q3 22	$1.1B	$191M	$263M
Q4 22	$1.3B	$136M	$275M
Q1 23	$1.1B	$187M	$284M
Q2 23	$1.2B	$171M	$311M
Q3 23	$1.2B	$177M	$304M
Q4 23	$1.3B	$158M	$314M
Q1 24	$1.1B	$179M	$307M
Q2 24	$1.2B	$170M	$307M
Q3 24	$1.2B	$175M	$295M
Q4 24	$1.3B	$159M	$330M
Q1 25	$1.1B	$188M	$300M
Q2 25	$1.2B	$175M	$309M
Q1 26	$1.3B	$199M	$336M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$326M	$0	$326M
Q3 22	$344M	$0	$344M
Q4 22	$334M	$0	$334M
Q1 23	$357M	$0	$357M
Q2 23	$127M	$0	$127M
Q3 23	$155M	$0	$155M
Q4 23	$167M	$0	$167M
Q1 24	$178M	$0	$178M
Q2 24	$166M	$0	$166M
Q3 24	$201M	$0	$201M
Q4 24	$186M	$0	$186M
Q1 25	$103M	$0	$103M
Q2 25	$124M	$0	$124M
Q3 25	$95M	$0	$95M
Q4 25	$96M	$0	$96M
Q1 26	$178M	$0	$178M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	271M	0.0%	+0.2%
Q3 22	270M	-0.1%	+0.1%
Q4 22	270M	0.0%	+0.1%
Q1 23	270M	-0.1%	-0.3%
Q2 23	270M	0.0%	-0.3%
Q3 23	270M	+0.1%	-0.0%
Q4 23	270M	-0.2%	-0.2%
Q1 24	270M	0.0%	-0.1%
Q2 24	270M	+0.0%	-0.0%
Q3 24	270M	0.0%	-0.1%
Q4 24	270M	0.0%	+0.0%
Q1 25	270M	-0.1%	-0.0%
Q2 25	269M	-0.0%	-0.1%
Q3 25	269M	-0.0%	-0.1%
Q4 25	269M	0.0%	-0.1%
Q1 26	269M	+0.0%	-0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$109.8K	14K
Q3 22	$114.0K	14K
Q4 22	$119.4K	14K
Q1 23	$110.2K	14K
Q2 23	$116.8K	14K
Q3 23	$118.6K	14K
Q4 23	$127.0K	14K
Q1 24	$116.1K	14K
Q2 24	$119.1K	14K
Q3 24	$121.7K	14K
Q4 24	$127.5K	14K
Q1 25	$113.9K	14K
Q2 25	$117.7K	14K
Q3 25	$122.3K	14K
Q4 25	$131.2K	14K
Q1 26	$132.9K	14K

Revenue / Employee