MKC-V FY 2016 Earnings Report — McCormick & Company, Incorporated Revenue & Financial Results | Market Cap Arena

McCormick & Company, IncorporatedMKC-V

FY 2016 Earnings

Reported November 29, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$4.4B	—	$4.3B	—	2.7%
Op. Income	$641M	—	$548M	—	16.9%
Gross Margin	41.5%	—	40.4%	—	1.1pp
Net Margin	10.7%	—	9.3%	—	1.4pp
EPS (Diluted)	$1.85	—	$1.56	—	18.6%
Free Cash Flow	$504M	—	$462M	—	9.3%

Revenue Flow

Item	Amount
REVENUE	$4.4B
Cost of Revenue	$2.6B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.2B
Other Expenses	$16M
Operating Expenses	$1.2B
Cost & Expenses	$3.8B
OPERATING INCOME	$641M
Interest Income	$0
Interest Expense	$56M
Other Income/Expenses	-$16M
INCOME BEFORE TAX	$625M
Income Tax Expense	$153M
Net Income from Continuing Ops	$472M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$472M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$472M
D&A	$109M
EBIT	$645M
EBITDA	$754M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.4B
Cost of Revenue	$2.6B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.2B
Other Expenses	$16M
Operating Expenses	$1.2B
Cost & Expenses	$3.8B
OPERATING INCOME	$641M
Interest Income	$0
Interest Expense	$56M
Other Income/Expenses	-$16M
INCOME BEFORE TAX	$625M
Income Tax Expense	$153M
Net Income from Continuing Ops	$472M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$472M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$472M
D&A	$109M
EBIT	$645M
EBITDA	$754M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$472M
Depreciation & Amortization	$109M
Stock-Based Compensation	$26M
Deferred Income Tax	-$40M
Other Non-Cash Items	$10M
Change in Working Capital	$82M
OPERATING CASH FLOW	$658M
Capital Expenditure	-$154M
Acquisitions (Net)	-$116M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$3M
NET CASH FROM INVESTING	-$267M
Net Debt Issuance	$56M
Common Stock Repurchased	-$243M
Common Dividends Paid	-$218M
Other Financing Activities	$33M
NET CASH FROM FINANCING	-$372M
FREE CASH FLOW	$504M
Net Change in Cash	$6M

Balance Sheet

Item	Amount
Cash & Equivalents	$118M
Short-Term Investments	$0
Net Receivables	$465M
Inventory	$756M
Other Current Assets	$58M
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$669M
Goodwill	$1.8B
Intangible Assets	$425M
Long-Term Investments	$348M
Tax Assets	-$81M
Other Non-Current Assets	$81M
TOTAL NON-CURRENT ASSETS	$3.2B
TOTAL ASSETS	$4.6B
Account Payables	$451M
Short-Term Debt	$393M
Deferred Revenue	$0
Other Current Liabilities	$417M
TOTAL CURRENT LIABILITIES	$1.4B
Long-Term Debt	$1.1B
Deferred Revenue NC	-$80M
Deferred Tax Liabilities	$80M
Other Non-Current Liabilities	$392M
TOTAL NON-CURRENT LIABILITIES	$1.6B
TOTAL LIABILITIES	$3.0B
Common Stock	$1.1B
Additional Paid-In Capital	$0
Retained Earnings	$1.1B
Treasury Stock	$0
Accum. Other Comp. Income	-$514M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.6B
Minority Interest	$12M
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$4.6B
Total Debt	$1.4B
Net Debt	$1.3B