YouTube · Q1 FY2027 · 2026-08-27
MKC · NYSE
McCormick & Company, Incorporated
Packaged Foods · United States
- Market cap (USD)
- US$13.14B
- Trailing P/E
- 8.55x
- Forward P/E
- 15.15x
- Quarterly revenue growth
- 17.4%
- Trailing net margin
- 19.4%
- Indicated dividend yield
- 3.9%
Snapshot 2026-11-03 · Latest financial period 2026-08-31 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Next earnings: 2027-01-21 (provider estimate; issuer confirmation unavailable here).
Company background
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, 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 Vahiné brands in Europe, the Middle East, and Africa; and McCormick and DaQiao brands in the Asia/Pacific (APAC), as well as desserts under the Aeroplane brand; and packaged chilled herbs under the Gourmet Garden brand. Its authentic regional brands include Zatarain's, Stubb's, Thai Kitchen, and Simply Asia. The company also supplies its products under private labels. This segment serves retailers, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce retailers directly and indirectly through distributors and wholesale foodservice suppliers. The Flavor Solutions segment offers seasoning blends, spices, 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.
Company websiteQ3 FY2026
Go beyond the headline.
Q3 FY2026 REPORT HIGHLIGHTS
What’s changed for MKC
McCormick’s acquisition-driven growth, cash conversion and pending Unilever combination tested against three valuation routes.
Growth is mostly acquired.
Mexico contributed 14.6 points of the 17.4% reported sales increase.
Margins improved before special charges.
Adjusted operating profit rose 22.1%; adjusted EPS rose only 1.2%.
GAAP moves in opposite directions.
Quarterly charges depress profit, while the year-to-date Mexico gain inflates it.
Cash has competing claims.
YTD post-capex cash of $467.6M compares with $387.0M common dividends and $729.9M acquisition cash.
The deal changes the per-share question.
Current holders are expected to own 35.0% of the combination; financing and closing remain unresolved.
Comparable businesses
MKC peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | MKCMcCormick & Company, IncorporatedSnapshot 2026-11-03Financial period: 2026-08-31 | SJMThe J. M. Smucker CompanySnapshot 2026-11-03Financial period: 2026-07-31 | HRLHormel Foods CorporationSnapshot 2026-11-03Financial period: 2026-07-26 | Peer medianSimilar-size peers only |
|---|---|---|---|---|
| Market capMarket value, converted to USD | US$13.14B | US$14.03B | US$11.82B | US$12.92Bn=2 |
| Forward P/EProvider forward earnings estimate | 15.15x | 11.95x | 13.70x | 12.83xn=2 |
| EV / EBITDAEnterprise value / trailing EBITDA | 12.24x | 9.24x | 10.93x | 10.08xn=2 |
| Revenue growthLatest quarter vs prior-year quarter | 17.4% | 5.0% | -2.4% | 1.3%n=2 |
| Operating marginLatest reported quarter | 17.8% | 17.9% | 8.6% | 13.3%n=2 |
| Free cash flow yieldTrailing cash flow / market cap | 5.6% | 10.4% | 5.3% | 7.8%n=2 |
| Net debt / EBITDANet debt / trailing EBITDA | 3.12x | 3.05x | 1.57x | 2.31xn=2 |
| Debt / equityTotal debt / positive book equity | 0.66x | 1.21x | 0.36x | 0.79xn=2 |
| Trailing P/ETrailing twelve-month earnings | 8.55x | 61.38x | 34.08x | 47.73xn=2 |
| Price / bookPrice / positive book equity per share | 1.88x | 2.44x | 1.51x | 1.97xn=2 |
| EV / salesEnterprise value / trailing revenue | 2.40x | 2.29x | 1.14x | 1.71xn=2 |
| Earnings growthLatest quarter vs prior-year quarter | -57.1% | — | -67.2% | — |
| Gross marginTrailing twelve months | 38.9% | 38.0% | 15.7% | 26.8%n=2 |
| Net marginTrailing twelve months | 19.4% | 2.5% | 2.8% | 2.7%n=2 |
| Return on equityProvider trailing return; positive equity only | 22.6% | 3.9% | 4.3% | 4.1%n=2 |
| Free cash flow marginTrailing free cash flow / revenue | 9.7% | 16.0% | 5.1% | 10.6%n=2 |
| Dividend yieldIndicated annual dividend / price | 3.9% | 3.4% | 5.4% | 4.4%n=2 |
| Earnings payoutProvider trailing dividend payout | 34.2% | 205.6% | 188.3% | 197.0%n=2 |
| Current ratioCurrent assets / current liabilities | 0.66x | 0.87x | 1.88x | 1.38xn=2 |
| BetaProvider historical market sensitivity | 0.67 | 0.25 | 0.26 | 0.26n=2 |
YouTube · Q1 FY2027 · 2026-08-27
YouTube · Q3 FY2026 · 2026-08-30
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
Financial statements load separately from the research page.
Source: . Window ends at the latest available reporting period.
Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
Price history loads separately.
Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-11-03. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for MKC
Q3 FY20262026-10-16
FREE RESEARCH PACKET · Q3 FY2026
MKC: Bigger sales, but what reaches each share?
McCormick’s acquisition-driven growth, cash conversion and pending Unilever combination tested against three valuation routes.
Research published October 15, 2026 · Download original report
Read Research PacketMKC Stock: Sales Jumped. What Reaches Each Share? — Q3 FY2026
Presentation · 2026-10-16 · YouTube