MKC FY 2020 Earnings Report — McCormick & Company, Incorporated Revenue & Financial Results | Market Cap Arena

McCormick & Company, IncorporatedMKC

FY 2020 Earnings

Reported January 28, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$5.6B	—	$5.3B	—	4.7%
Op. Income	$1000M	—	$958M	—	4.4%
Gross Margin	41.1%	—	40.1%	—	1.0pp
Net Margin	13.3%	—	13.1%	—	0.2pp
EPS (Diluted)	$2.78	—	$2.62	—	6.1%
Free Cash Flow	$816M	—	$773M	—	5.5%

Revenue Flow

Item	Amount
REVENUE	$5.6B
Cost of Revenue	$3.3B
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.3B
Other Expenses	$19M
Operating Expenses	$1.3B
Cost & Expenses	$4.6B
OPERATING INCOME	$1000M
Interest Income	$8M
Interest Expense	$136M
Other Income/Expenses	-$77M
INCOME BEFORE TAX	$922M
Income Tax Expense	$175M
Net Income from Continuing Ops	$747M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$747M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$747M
D&A	$165M
EBIT	$1.0B
EBITDA	$1.2B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$5.6B
Cost of Revenue	$3.3B
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.3B
Other Expenses	$19M
Operating Expenses	$1.3B
Cost & Expenses	$4.6B
OPERATING INCOME	$1000M
Interest Income	$8M
Interest Expense	$136M
Other Income/Expenses	-$77M
INCOME BEFORE TAX	$922M
Income Tax Expense	$175M
Net Income from Continuing Ops	$747M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$747M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$747M
D&A	$165M
EBIT	$1.0B
EBITDA	$1.2B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$747M
Depreciation & Amortization	$165M
Stock-Based Compensation	$46M
Deferred Income Tax	-$11M
Other Non-Cash Items	-$9M
Change in Working Capital	$103M
OPERATING CASH FLOW	$1.0B
Capital Expenditure	-$225M
Acquisitions (Net)	-$803M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$3M
NET CASH FROM INVESTING	-$1.0B
Net Debt Issuance	$556M
Common Stock Repurchased	-$47M
Common Dividends Paid	-$330M
Other Financing Activities	$56M
NET CASH FROM FINANCING	$221M
FREE CASH FLOW	$816M
Net Change in Cash	$268M

Balance Sheet

Item	Amount
Cash & Equivalents	$424M
Short-Term Investments	$0
Net Receivables	$529M
Inventory	$1.0B
Other Current Assets	$61M
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$1.2B
Goodwill	$5.0B
Intangible Assets	$3.4B
Long-Term Investments	$323M
Tax Assets	$0
Other Non-Current Assets	$176M
TOTAL NON-CURRENT ASSETS	$10.0B
TOTAL ASSETS	$12.1B
Account Payables	$1.0B
Short-Term Debt	$1.2B
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$3.0B
Long-Term Debt	$3.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$727M
Other Non-Current Liabilities	$519M
TOTAL NON-CURRENT LIABILITIES	$5.1B
TOTAL LIABILITIES	$8.1B
Common Stock	$2.0B
Additional Paid-In Capital	$0
Retained Earnings	$2.4B
Treasury Stock	$0
Accum. Other Comp. Income	-$471M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.9B
Minority Interest	$14M
TOTAL EQUITY	$3.9B
TOTAL LIABILITIES & EQUITY	$12.1B
Total Debt	$5.0B
Net Debt	$4.6B