MCCORMICK & CO INC

10-K & 10-Q Filings

McCormick & Company Incorporated is a global leader in the flavor industry, manufacturing, marketing, and distributing spices, seasoning mixes, condiments, and other flavorful products to retailers, food manufacturers, and foodservice businesses. The company operates in two business segments: consumer and flavor solutions. The consumer segment generates approximately 57% of consolidated net sales and 73% of consolidated operating income, while the flavor solutions segment contributes approximately 43% of consolidated net sales and 27% of consolidated operating income. McCormick's major brands include McCormick, French's, Frank's RedHot, Lawry's, Zatarain's, Cholula, Stubb's, Club House, Ducros, Schwartz, Vahiné, OLD BAY, Simply Asia, Thai Kitchen, Kamis, La Drogheria, DaQiao, and Gourmet Garden. The company's website is www.mccormickcorporation.com, and its ticker symbol is MKC.

12 mos ending Nov 30, 201112 mos ending Nov 30, 201212 mos ending Nov 30, 201312 mos ending Nov 30, 201412 mos ending Nov 30, 201512 mos ending Nov 30, 201612 mos ending Nov 30, 201712 mos ending Nov 30, 201812 mos ending Nov 30, 201912 mos ending Nov 30, 202012 mos ending Nov 30, 202112 mos ending Nov 30, 202212 mos ending Nov 30, 20233 mos ending Feb 28, 20233 mos ending Feb 29, 2024CAGR %YoY %Revenue (+)
$3697.60
4014.20
4123.40
4243.20
4296.30
4411.50
4834.10
5408.90
5347.40
5601.30
6317.90
6350.50
6662.20
1565.50
1602.70
5.03%2.38%Cost of Revenue (-)
$2175.10
2396.40
2457.60
2513.00
2559.00
2579.80
2823.90
3037.30
3202.10
3300.90
3823.30
4076.00
4159.70
1002.60
1003.40
5.55%0.08%Gross Profit (+)
$1522.50
1617.80
1665.80
1730.20
1737.30
1831.70
2010.20
2371.60
2145.30
2300.40
2494.60
2274.50
2502.50
562.90
599.30
4.23%6.47%Selling, General & Administrative (-)
$982.20
1039.50
1075.00
1122.00
1127.40
1175.00
1244.80
1429.50
1166.80
1281.60
1404.10
1357.10
1478.30
336.10
361.60
3.47%7.59%Non-recurring Operating Expenses (-)
$
15.30
40.80
22.50
12.40
29.00
2.20
Operating Expenses (-)
$982.20
1039.50
1115.30
1127.20
1188.90
1190.70
1307.80
1468.30
1187.60
1294.00
1479.50
1410.90
1539.50
363.90
365.80
3.82%0.52%Costs & Expenses (Total) (-)
$3157.30
3435.90
3572.90
3640.20
3747.90
3754.80
4109.50
4489.30
4368.90
4594.90
5256.40
5435.30
5699.20
1366.50
1365.00
5.04%-0.11%Operating Income/Loss (+)
$540.30
578.30
550.50
603.00
548.40
641.00
702.40
903.30
957.70
999.50
1015.10
863.60
963.00
199.00
233.50
4.93%17.34%Non-operating Income/Expense (+)
$27.70
23.90
25.40
30.50
37.80
40.30
37.40
47.40
67.60
58.40
69.50
136.10
100.30
25.10
32.40
11.32%29.08%Interest Expense (-)
$51.20
54.60
53.30
49.70
53.30
56.00
95.70
174.60
165.20
135.60
136.60
149.10
208.20
50.60
50.30
12.40%-0.59%Earnings before Tax (+)
$491.40
526.10
499.40
554.40
496.20
589.20
594.80
741.30
819.20
881.50
895.80
812.80
798.70
159.50
194.30
4.13%21.82%Tax Expense (-)
$142.60
139.80
133.60
145.90
131.30
153.00
151.30
-157.30
157.40
174.90
192.70
168.60
174.50
34.40
49.60
1.70%44.19%Income/Loss (Continuing Operations) (+)
$348.80
386.30
365.80
408.50
364.90
436.20
443.50
898.60
661.80
706.60
703.10
644.20
624.20
125.10
144.70
4.97%15.67%Net Income/Loss (+)
$374.20
407.80
389.00
437.90
401.60
472.30
477.40
933.40
702.70
747.40
755.30
682.00
680.60
139.10
166.00
5.11%19.34%Net Income/Loss (Common) (+)
$374.20
407.80
389.00
437.90
401.60
472.30
477.40
933.40
702.70
747.40
755.30
682.00
680.60
139.10
166.00
5.11%19.34%EPS (Basic)
$2.82
3.07
2.94
3.37
3.14
3.73
3.77
7.10
5.30
2.80
2.83
2.54
2.54
0.52
0.62
-0.87%19.23%EPS (Diluted)
$2.79
3.04
2.91
3.34
3.11
3.69
3.72
7.00
5.24
2.78
2.80
2.52
2.52
0.52
0.62
-0.84%19.23%Weighted Avg Shares (Basic)
120.54
120.23
119.00
116.31
115.37
113.66
121.10
122.60
123.60
248.94
249.74
250.72
251.44
268.20
268.40
6.32%0.07%Weighted Avg Shares (Diluted)
269.80
269.60
-0.07%Cash
$53.90
79.00
63.00
77.30
112.60
118.40
186.80
96.60
155.40
423.60
351.70
334.00
166.60
356.80
178.00
9.86%-50.11%Receivables
$427.00
465.90
495.50
493.60
455.20
465.20
555.10
518.10
502.90
528.50
549.50
573.70
587.50
571.00
567.50
2.69%-0.61%Inventory
$
793.30
786.30
801.20
1032.60
1182.30
1340.10
1126.50
1344.60
1129.60
-15.99%Prepaid Expenses (Current)
$128.30
125.50
Other Assets (Current)
$613.70
615.00
811.70
845.30
838.70
838.20
81.80
78.90
90.70
98.90
112.30
138.90
121.00
138.90
145.10
-12.66%4.46%Assets (Current)
$1222.90
1285.40
1370.20
1416.20
1406.50
1421.80
1617.00
1479.90
1550.20
2083.60
2195.80
2386.70
2001.60
2411.30
2020.20
4.19%-16.22%Securities & Long-term Investments
$297.60
313.90
371.00
342.40
351.50
348.40
398.50
390.20
507.10
752.00
781.40
939.40
919.20
957.50
915.00
9.85%-4.44%Property, Plant & Equipment (Net)
$523.10
547.30
576.60
602.70
618.40
669.40
809.10
985.10
952.60
1028.40
1140.30
1198.00
1324.70
1225.20
1354.50
8.05%10.55%Goodwill & Intangibles
$2044.20
2018.80
2131.90
2053.00
2131.40
2196.30
7561.20
7401.20
7352.20
8225.70
8788.30
8600.80
8616.80
8611.40
8600.40
12.74%-0.13%Other Assets
$
0.00
756.30
Assets (Non-current)
$2864.90
2880.00
3079.50
2998.10
3101.30
3214.10
8768.80
8776.50
8811.90
10006.10
10710.00
10738.20
10860.70
10794.10
10869.90
11.75%0.70%Assets (Total)
$4087.80
4165.40
4449.70
4414.30
4507.80
4635.90
10385.80
10256.40
10362.10
12089.70
12905.80
13124.90
12862.30
13205.40
12890.10
10.02%-2.39%Debt (Current)
$222.40
392.60
214.10
270.80
343.00
393.20
583.20
643.50
698.40
1150.60
1309.40
1507.30
1071.50
1586.00
1127.90
14.00%-28.88%Other Liabilities (Current)
$770.90
795.00
849.00
851.20
897.20
1029.50
1364.10
1358.20
1456.00
1895.90
1914.40
1925.10
2027.40
1735.00
1845.90
8.39%6.39%Liabilities (Current)
$993.30
1187.60
1063.10
1122.00
1240.20
1422.70
1947.30
2001.70
2154.40
3046.50
3223.80
3432.40
3098.90
3321.00
2973.80
9.95%-10.45%Debt (Non-current)
$1029.70
779.20
1019.00
1014.10
1052.70
1054.00
4443.90
4052.90
3625.80
3753.80
3973.30
3642.30
3339.90
3619.80
3329.10
10.30%-8.03%Other Liabilities
$446.30
498.40
419.90
468.80
528.00
521.10
1423.70
1019.60
1125.20
1349.40
1283.20
1351.00
1340.00
1376.90
1329.80
9.59%-3.42%Liabilities (Non-current)
$1476.00
1277.60
1438.90
1482.90
1580.70
1575.10
5867.60
5072.50
4751.00
5103.20
5256.50
4993.30
4679.90
4996.70
4658.90
10.09%-6.76%Liabilities (Total)
$2469.30
2465.20
2502.00
2604.90
2820.90
2997.80
7814.90
7074.20
6905.40
8149.70
8480.30
8425.70
7778.80
8317.70
7632.70
10.03%-8.24%Retained Earnings
$838.80
934.60
970.40
982.60
1036.70
1056.80
1166.50
1760.20
2055.80
2415.60
2782.40
3022.50
3249.70
3155.10
3412.80
11.95%8.17%AOCI
$-59.00
-159.90
-0.30
-186.00
-406.10
-514.40
-279.50
-359.90
-500.20
-470.80
-426.50
-480.60
-388.60
-437.10
-393.70
9.93%Shareholder's Equity
$1618.50
1700.20
1947.70
1809.40
1686.90
1638.10
2570.90
3182.20
3456.70
3940.00
4425.50
4699.20
5083.50
4887.70
5257.40
10.01%7.56%Liabilities & Equity
$4087.80
4165.40
4449.70
4414.30
4507.80
4635.90
10385.80
10256.40
10362.10
12089.70
12905.80
13124.90
12862.30
13205.40
12890.10
10.02%-2.39%Net Income/Loss
$374.20
407.80
389.00
437.90
401.60
472.30
477.40
933.40
702.70
747.40
755.30
682.00
680.60
139.10
166.00
5.11%19.34%Depreciation & Amortization
$98.30
102.80
106.00
102.70
105.90
108.70
125.20
150.70
158.80
165.00
186.30
200.60
199.30
47.80
45.80
6.07%-4.18%Increase/Decrease in Working Capital
$-33.90
95.00
55.20
54.20
-35.60
-81.50
-133.70
9.20
-38.00
-102.60
222.80
255.70
-269.30
95.20
90.20
-5.25%Share-based Compensation
$13.00
20.20
18.70
18.20
18.70
25.60
23.90
25.60
37.20
46.00
66.60
60.30
63.40
11.80
11.70
14.12%-0.85%Adjustments to Reconcile Net Income
$-34.20
47.20
76.20
65.70
188.40
185.80
337.90
-112.20
244.10
293.90
73.00
-30.50
556.70
-35.70
-27.60
22.69%Net Cash (Operating)
$340.00
455.00
465.20
503.60
590.00
658.10
815.30
821.20
946.80
1041.30
828.30
651.50
1237.30
103.40
138.40
11.37%33.85%Capital Expenditure
$96.10
109.00
239.70
131.60
338.90
269.40
4509.90
174.00
173.70
1028.30
984.40
153.20
262.90
61.50
62.00
8.75%0.81%Net Cash (Investing)
$-537.50
-109.00
-239.70
-131.60
-338.90
-267.10
-4508.30
-158.50
-171.00
-1025.60
-908.60
-146.40
-260.50
-61.50
-61.80
-0.49%Increase/Decrease in Debt
$367.60
-80.50
66.70
56.10
118.00
55.70
3582.30
-466.50
-406.70
555.80
397.70
-73.70
-736.30
64.30
43.20
-32.81%Increase/Decrease in Equity
$-89.30
-132.20
-177.40
-244.30
-145.80
-242.70
407.60
15.90
-4.20
8.20
3.00
2.60
-20.20
1.70
4.10
141.18%Dividends Paid
$148.50
164.70
179.90
192.40
204.90
217.80
237.60
273.40
302.20
330.10
363.30
396.70
418.50
104.60
112.70
9.02%7.74%Net Cash (Financing)
$187.80
-324.30
-245.90
-348.90
-199.60
-371.50
3756.00
-751.10
-725.80
220.90
22.00
-487.20
-1184.20
-44.70
-67.70
-51.45%Effect of Exchange Rate
$12.80
3.40
4.40
-8.80
-16.20
-13.70
5.40
-1.80
8.80
31.60
-13.60
-35.60
40.00
25.60
2.50
9.96%-90.23%Increase/Decrease in Cash
$3.10
25.10
-16.00
14.30
35.30
5.80
68.40
-90.20
58.80
268.20
-71.90
-17.70
-167.40
22.80
11.40
-50.00%Cash (Beginning)
$50.80
53.90
79.00
63.00
77.30
112.60
118.40
186.80
96.60
155.40
423.60
351.70
334.00
334.00
166.60
16.99%-50.12%Cash (Ending)
$53.90
79.00
63.00
77.30
112.60
118.40
186.80
96.60
155.40
423.60
351.70
334.00
166.60
356.80
178.00
9.86%-50.11%NOPAT
$383.51
424.63
403.23
444.31
403.29
474.55
523.73
1094.98
773.69
801.19
796.74
684.46
752.60
156.08
173.89
5.78%11.41%Gross Margin %
41.18%
40.30%
40.40%
40.78%
40.44%
41.52%
41.58%
43.85%
40.12%
41.07%
39.48%
35.82%
37.56%
35.96%
37.39%
Operating Margin %
14.61%
14.41%
13.35%
14.21%
12.76%
14.53%
14.53%
16.70%
17.91%
17.84%
16.07%
13.60%
14.45%
12.71%
14.57%
NOPAT Margin %
10.37%
10.58%
9.78%
10.47%
9.39%
10.76%
10.83%
20.24%
14.47%
14.30%
12.61%
10.78%
11.30%
9.97%
10.85%
Net Margin %
10.12%
10.16%
9.43%
10.32%
9.35%
10.71%
9.88%
17.26%
13.14%
13.34%
11.95%
10.74%
10.22%
8.89%
10.36%
Tax Rate %
29.02%
26.57%
26.75%
26.32%
26.46%
25.97%
25.44%
-21.22%
19.21%
19.84%
21.51%
20.74%
21.85%
21.57%
25.53%
ROA
9.38%
10.19%
9.06%
10.07%
8.95%
10.24%
5.04%
10.68%
7.47%
6.63%
6.17%
5.21%
5.85%
1.18%
1.35%
ROE
23.70%
24.98%
20.70%
24.56%
23.91%
28.97%
20.37%
34.41%
22.38%
20.33%
18.00%
14.57%
14.80%
3.19%
3.31%
ROIC
14.94%
16.55%
14.89%
16.73%
14.67%
16.56%
6.26%
13.06%
9.32%
8.66%
8.02%
6.99%
7.57%
1.59%
1.75%
Asset Turnover
0.90
0.96
0.93
0.96
0.95
0.95
0.47
0.53
0.52
0.46
0.49
0.48
0.52
0.12
0.12
Inventory Turnover
3.56
3.86
4.00
3.20
3.23
3.04
3.69
0.75
0.89
Equity Multiplier
2.53
2.45
2.28
2.44
2.67
2.83
4.04
3.22
3.00
3.07
2.92
2.79
2.53
2.70
2.45
Current Ratio
1.23
1.08
1.29
1.26
1.13
1.00
0.83
0.74
0.72
0.68
0.68
0.70
0.65
0.73
0.68
Quick Ratio
0.48
0.46
0.53
0.51
0.46
0.41
0.38
0.31
0.31
0.31
0.28
0.26
0.24
0.28
0.25
Debt/Equity Ratio
0.77
0.69
0.63
0.71
0.83
0.88
1.96
1.48
1.25
1.24
1.19
1.10
0.87
1.07
0.85
Dividend Payout Ratio %
38.72%
38.79%
44.61%
43.30%
50.81%
45.90%
45.37%
24.97%
39.06%
41.20%
45.60%
57.96%
55.61%
67.02%
64.81%
Total Payout
$-129.80
377.40
290.60
380.60
232.70
404.80
-3752.30
724.00
713.10
-233.90
-37.40
467.80
1175.00
38.60
65.40
69.43%Payout Ratio %
-33.85%
88.88%
72.07%
85.66%
57.70%
85.30%
-716.46%
66.12%
92.17%
-29.19%
-4.69%
68.35%
156.12%
24.73%
37.61%