McCormick & Company, Incorporated manufactures, markets, and distributes herbs, 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. This segment markets its products under the McCormick, French's, Frank's RedHot, Lawry's, Cholula Hot Sauce, Club House, Gourmet Garden, and OLD BAY brands in the Americas; Ducros, Schwartz, Kamis, LA Drogheria, and VahinΓ© brands in Europe, the Middle East, and Africa; and McCormick and DaQiao brands in the Asia/Pacific, as well as markets desserts under the Aeroplane brand and packaged chilled herbs under the Gourmet Garden brand name; and markets authentic regional brands, such as Zatarain's, Stubb's, Thai Kitchen, and Simply Asia. It also supplies its products under the private labels. This segment serves retailers comprising grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce retailers directly and indirectly through distributors, wholesale foodservice suppliers, and e-commerce. The Flavor Solutions segment offers seasoning blends, spices and herbs, condiments, coating systems, and compound flavors to multinational food manufacturers and foodservice customers. It serves foodservice customers directly and indirectly through distributors. The company was founded in 1889 and is headquartered in Hunt Valley, Maryland.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $6.8B | $1.3B | $789M | $740M | 13.8% | 1.7% | 0.1% |
| 2024 | $6.7B | $1.3B | $789M | $647M | 14.9% | 0.9% | 15.9% |
| 2023 | $6.7B | $1.2B | $681M | $973M | 13.4% | 4.9% | -0.2% |
| 2022 | $6.4B | $1.2B | $682M | $390M | 14.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 6,350.50 | 6,662.20 | 6,723.70 | 6,840.30 |
| Operating Revenue | - | 6,350.50 | 6,662.20 | 6,723.70 | 6,840.30 |
| Cost Of Revenue | - | 4,076 | 4,159.70 | 4,132.70 | 4,248.10 |
| Gross Profit | - | 2,274.50 | 2,502.50 | 2,591 | 2,592.20 |
| Operating Expense | - | 1,357.10 | 1,478.30 | 1,521.20 | 1,500.30 |
| Selling General And Administration | - | 1,357.10 | 1,478.30 | 1,521.20 | 1,500.30 |
| Total Expenses | - | 5,433.10 | 5,638 | 5,653.90 | 5,748.40 |
| Operating Income | - | 917.40 | 1,024.20 | 1,069.80 | 1,091.90 |
| Total Operating Income As Reported | - | 863.60 | 963 | 1,060.30 | 1,070.80 |
| EBITDA | - | 1,162.50 | 1,206.20 | 1,316.50 | 1,340.50 |
| Normalized EBITDA | - | 1,166.70 | 1,267.40 | 1,326 | 1,361.60 |
| EBIT | - | 961.90 | 1,006.90 | 1,107.70 | 1,109.20 |
| Interest Income | - | 17.80 | 36.60 | 45.90 | 40.10 |
| Interest Expense | - | 149.10 | 208.20 | 209.40 | 196.20 |
| Net Interest Income | - | -131.30 | -171.60 | -163.50 | -156.10 |
| Other Non Operating Income Expenses | - | 30.90 | 7.30 | 1.50 | -1.70 |
| Other Income Expense | - | 26.70 | -53.90 | -8 | -22.80 |
| Interest Income Non Operating | - | 17.80 | 36.60 | 45.90 | 40.10 |
| Interest Expense Non Operating | - | 149.10 | 208.20 | 209.40 | 196.20 |
| Net Non Operating Interest Income Expense | - | -131.30 | -171.60 | -163.50 | -156.10 |
| Pretax Income | - | 812.80 | 798.70 | 898.30 | 913 |
| Tax Provision | - | 168.60 | 174.50 | 184 | 195.80 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.87 | -13.37 | -1.95 | -4.52 |
| Net Income Continuous Operations | - | 682 | 680.60 | 788.50 | 789.40 |
| Net Income From Continuing And Discontinued Operation | - | 682 | 680.60 | 788.50 | 789.40 |
| Net Income From Continuing Operation Net Minority Interest | - | 682 | 680.60 | 788.50 | 789.40 |
| Net Income | - | 682 | 680.60 | 788.50 | 789.40 |
| Net Income Common Stockholders | - | 682 | 680.60 | 788.50 | 789.40 |
| Net Income Including Noncontrolling Interests | - | 682 | 680.60 | 788.50 | 789.40 |
| Normalized Income | - | 685.33 | 728.43 | 796.05 | 805.98 |
| Diluted NI Availto Com Stockholders | - | 682 | 680.60 | 788.50 | 789.40 |
| Basic Average Shares | - | 268.20 | 268.40 | 268.50 | 268.50 |
| Diluted Average Shares | - | 270.20 | 269.80 | 269.60 | 269.40 |
| Reconciled Depreciation | - | 200.60 | 199.30 | 208.80 | 231.30 |
| Reconciled Cost Of Revenue | - | 4,076 | 4,159.70 | 4,132.70 | 4,248.10 |
| Total Unusual Items | - | -4.20 | -61.20 | -9.50 | -21.10 |
| Total Unusual Items Excluding Goodwill | - | -4.20 | -61.20 | -9.50 | -21.10 |
| Earnings From Equity Interest Net Of Tax | - | 37.80 | 56.40 | 74.20 | 72.20 |
| Special Income Charges | - | -4.20 | -61.20 | -9.50 | -21.10 |
| Gain On Sale Of Business | 0 | 63.20 | -1.20 | 0 | - |
| Other Special Charges | - | 31.40 | 26.80 | 6.80 | 3.30 |
| Restructuring And Mergern Acquisition | - | 36 | 34.40 | 2.70 | 17.80 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| McCormick & Company, Incorporatedthis co. | MKC | $12.5B | 15.88 | 2.18 | 13.8% | 12.38 |
| Church & Dwight Co., Inc. | CHD | $22.3B | 30.27 | 5.57 | 18.4% | 18.54 |
| Dollar Tree, Inc. | DLTR | $21.0B | 16.37 | 5.59 | 34.2% | 11.57 |
| Tyson Foods, Inc. | TSN | $20.0B | 42.26 | 1.11 | 2.6% | 10.71 |
| General Mills, Inc. | GIS |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $17.2B |
| 7.49 |
| 1.87 |
| 24.9% |
| 8.19 |
| Hormel Foods Corporation | HRL | $12.8B | 26.80 | 1.62 | 6.1% | 14.92 |
| Brown-Forman Corporation | BF-B | $11.7B | 13.44 | 2.92 | 21.8% | 10.83 |
| The Clorox Company | CLX | $10.8B | 13.38 | 33.76 | 252.3% | 9.78 |
| The J. M. Smucker Company | SJM | $10.8B | -8.76 | 1.77 | -20.2% | -118.74 |
| Peer Median | - | 14.91 | 2.40 | 20.1% | 10.77 | |