Financials

McCormick & Co Inc. financials

MKC Food Products

McCormick & Co Inc. is a global leader in flavor, manufacturing, marketing, and distributing spices, seasoning mixes, condiments, and other flavorful products to the entire food industry.

Snapshot

McCormick & Co Inc. reported $6.84B in revenue in fiscal 2025, up 1.7% year over year, with an operating margin of 15.7%.

Revenue (FY2025): $6.84B
YoY growth: +1.7%
Operating margin: 15.7%
Direction: Expanding

Financial statements

In thousands, USD · annual

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Total Revenues	6,840,300	6,723,700	6,662,200	6,350,500
Cost of Sales	4,248,100	4,132,700	4,159,700	4,076,000
Gross Profit	2,592,200	2,591,000	2,502,500	2,274,500
Selling, General & Administrative Expenses	1,500,300	1,521,200	1,478,300	1,357,100
Other Operating Expenses	21,100	9,500	61,200	53,800
Operating Profit	1,070,800	1,060,300	963,000	863,600
Interest Expense	(196,200)	(209,400)	(208,200)	(149,100)
Non-Operating Income	38,400	47,400	43,900	98,300
Total Non-Operating Income	(157,800)	(162,000)	(164,300)	(50,800)
Income Before Provision for Income Taxes	913,000	898,300	798,700	812,800
Provision for Income Taxes	195,800	184,000	174,500	168,600
Consolidated Net Income	717,200	714,300	624,200	644,200
Net Income Attributable to Discontinued Operations	72,200	74,200	56,400	37,800
Net Income Attributable to Common Shareholders	789,400	788,500	680,600	682,000
Basic EPS	2.94	2.94	2.54	2.54
Diluted EPS	2.93	2.92	2.52	2.52
Basic Weighted Average Shares Outstanding	268,500	268,500	268,400	268,200
Diluted Weighted Average Shares Outstanding	269,400	269,600	269,800	270,200
Shares Outstanding	268,400	268,000	268,100	268,000

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Cash and Cash Equivalents	95,900	186,100	166,600	334,000
Total Cash and Cash Equivalents	95,900	186,100	166,600	334,000
Accounts Receivable	628,900	587,400	587,500	573,700
Total Trade Receivables	628,900	587,400	587,500	573,700
Inventories	1,272,000	1,239,900	1,126,500	1,340,100
Other Current Assets	141,300	125,600	121,000	138,900
Total Current Assets	2,138,100	2,139,000	2,001,600	2,386,700
Net Property, Plant & Equipment	1,448,800	1,413,000	1,324,700	1,198,000
Net Intangible Assets	3,293,100	3,318,900	3,356,700	3,387,900
Goodwill	5,301,300	5,227,500	5,260,100	5,212,900
Other Long-Term Assets	1,019,100	971,900	919,200	939,400
Total Assets	13,200,400	13,070,300	12,862,300	13,124,900
Accounts Payable	1,259,400	1,238,100	1,119,300	1,171,000
Accrued Expenses	912,300	896,400	908,100	754,100
Short-Term Debt	381,400	483,100	272,200	1,236,700
Current Portion of Long-Term Debt	509,100	265,200	799,300	270,600
Total Current Liabilities	3,062,200	2,882,800	3,098,900	3,432,400
Long-Term Debt	3,105,800	3,593,600	3,339,900	3,642,300
Other Long-Term Liabilities	1,264,300	1,277,100	1,340,000	1,351,000
Total Long-Term Liabilities	4,370,100	4,870,700	4,679,900	4,993,300
Total Liabilities	7,432,300	7,753,500	7,778,800	8,425,700
Common Stock	2,283,200	2,237,200	2,199,600	2,138,600
Accumulated Other Comprehensive Income	(363,100)	(491,200)	(388,600)	(480,600)
Retained Earnings	3,816,400	3,545,000	3,249,700	3,022,500
Total Common Shareholders' Equity	5,736,500	5,291,000	5,060,700	4,680,500
Minority Interests and Other	31,600	25,800	22,800	18,700
Total Shareholders' Equity	5,768,100	5,316,800	5,083,500	4,699,200
Total Liabilities and Shareholders' Equity	13,200,400	13,070,300	12,862,300	13,124,900

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Net Income	789,400	788,500	680,600	682,000
Depreciation & Amortization	231,300	208,800	199,300	200,600
Share-Based Compensation Expense	46,200	47,400	63,400	60,300
Other Adjustments	(78,700)	(111,600)	(60,400)	(69,700)
Changes in Trade Receivables	(14,700)	(20,500)	3,400	(45,800)
Changes in Inventories	23,900	(125,000)	225,000	(205,300)
Changes in Accounts Payable	1,200	135,100	(68,100)	125,300
Changes in Other Operating Activities	(36,400)	(5,800)	194,100	(95,900)
Cash from Operating Activities	962,200	921,900	1,237,300	651,500
Capital Expenditure	(221,800)	(274,900)	(263,900)	(262,000)
Proceeds from Sale of Intangible Assets	—	—	—	13,600
Payments for Business Acquisitions	(34,100)	—	—	—
Proceeds from Business Divestments	—	—	1,000	95,200
Other Investing Activities	700	5,900	2,400	6,800
Cash from Investing Activities	(255,200)	(269,000)	(260,500)	(146,400)
Issuance of Long-Term Debt	2,700	495,500	496,400	—
Repayments of Long-Term Debt	(267,900)	(801,100)	(268,100)	(772,000)
Net Issuance / (Repayments) of Long-Term Debt	(265,200)	(305,600)	228,300	(772,000)
Issuance of Common Shares	20,900	17,500	16,600	41,400
Repurchases of Common Shares	(48,000)	(62,100)	(46,500)	(58,200)
Net Issuance / (Repurchases) of Common Shares	(27,100)	(44,600)	(29,900)	(16,800)
Common Share Dividends Paid	(483,000)	(451,000)	(418,500)	(396,700)
Other Financing Activities	(65,600)	218,100	(964,100)	698,300
Cash from Financing Activities	(840,900)	(583,100)	(1,184,200)	(487,200)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	43,700	(50,300)	40,000	(35,600)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash	(90,200)	19,500	(167,400)	(17,700)

Quarterly trend

last 8 quarters

Quarter	Revenue	YoY growth	Operating margin	Operating income
Q1 2026	$1.87B	+16.7%	12.1%	$228M
Q4 2025	$1.85B	+2.9%	16.8%	$311M
Q3 2025	$1.72B	+2.7%	16.7%	$289M
Q2 2025	$1.66B	+1.0%	14.8%	$246M
Q1 2025	$1.61B	—	14.0%	$225M
Q4 2024	$1.80B	—	17.0%	$306M
Q3 2024	$1.68B	—	17.1%	$286M
Q2 2024	$1.64B	—	14.2%	$234M

Revenue by quarter$M

$1.64B

Q2 '24

$1.68B

Q3 '24

$1.80B

Q4 '24

$1.61B

Q1 '25

$1.66B

Q2 '25

$1.72B

Q3 '25

$1.85B

Q4 '25

$1.87B

Q1 '26

37.9%

Gross margin

15.7%

Operating margin

10.5%

Net margin

SourceCompany financial filings (income statement, balance sheet, cash flow) Last updated2026-06-12

Snapshot

Financial statements

Quarterly trend

More on McCormick & Co Inc.

See how VectorShift works for your firm