Mccormick & Co Inc (MKC)
Consumer Staples · Packaged Foods & Meats · US stock · S&P 500 component
$48.71
▲ +2.39 (5.16%)
Fair valueUndervalued
$66 +35.0% to fair value
$33fair band $56–$80$99
Day's range
$46.52 – $48.71
52-week range
$43.25 – $72.41
About Mccormick & Co Inc
McCormick is a food company that makes spices, herbs, seasonings, condiments and flavor ingredients. It sells branded products such as McCormick and Frank's RedHot to consumers through grocery stores, and it supplies flavor solutions to food manufacturers and restaurant chains. Revenue comes from product sales in both consumer and flavor solutions segments, and results are influenced by ingredient costs and consumer demand.
The X-Ray Score for Mccormick & Co Inc is 54 out of 100. Revenue over the last twelve months was $7.7 billion, and it expanded at 2.5% a year across three years. The business shows an operating margin of 13.4% and a return on invested capital of 6%. Leverage, measured as net debt to EBITDA, is 3.6 times. The company pays a dividend with a yield of 3.9%.
Price chart
52-wk range $43.25 – $72.41Volume 4,703,534Daily, split-adjusted
Vitals
Market cap$13.1B
52-week range$43.25 – $72.41
Volume (last day)4,703,534
P/E (TTM)8.8
EBIT / EV yield5.6%
Free-cash-flow yield7.1%
Dividend yield3.9%
Revenue (TTM)$7.7B
Net income (TTM)$1.5B
Operating margin13.4%
Return on capital6.4%
Debt incl. leases$5.0B
Cash & securities$331M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$66middle half of models $61 – $69
Undervalued
+35.0% to fair value
Average of the 13 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Low, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $49
Undervalued < $56Fair $56 – $80Overvalued > $80
P/E multiple
$64
P/B multiple
$78
P/S multiple
$61
EV/EBITDA multiple
$59
EV/EBIT multiple
$64
EV/revenue multiple
$59
10-year DCF, EBITDA exit
$73
5-year DCF, EBITDA exit
$68
10-year DCF, revenue exit
$73
5-year DCF, revenue exit
$69
10-year DCF, growth exit
$64
5-year DCF, growth exit
$58
Dividend discount, stable · not used
$152
Dividend discount, multi-stage · not used
$305
Earnings power value
$66
Growth the price implies
9.9%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, but the price is low
Our models put fair value above today's price, but models can be wrong, so check the business first. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Consumer Staples peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Strong
83/100
Cheap against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield5.6%
Free-cash-flow yield7.1%
Fair value vs price1.4×
Growth
Fair
57/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)2.5%
EPS growth (3y)5.2%
Growth consistency80%
Profitability
Weak
38/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital6.4%
Operating margin13.4%
Gross profitability18.0%
Financial health
Weak
28/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score6 / 9
Net debt / EBITDA3.6×
Interest cover4.6×
Dividends
Fair
67/100
Dividend is typical for its sector.
See the numbers →
Dividend yield3.9%
Dividends vs free cash flow56%
Dividend growth6.8%
Quarterly results: last 6 quarters
+1.0%
May '25
+2.7%
Aug '25
+2.9%
Nov '25
+16.7%
Feb '26
+16.7%
May '26
+17.4%
Aug '26
Revenue against the same quarter a year earlier. Latest quarter revenue $2.0B, diluted EPS $0.36.
Compare with peers
TSN Tyson Foods, Inc.43 HRL Hormel Foods Corp42 MDLZ Mondelez International...36 KHC Kraft Heinz Co29Other Packaged Foods & Meats companies by X-Ray Score.
SWOT analysis: Mccormick & Co Inc
Strengthsinside the company
- Free cash flow equals 7.1% of the market value, which funds dividends, buybacks or debt paydown.
Weaknessesinside the company
- Net debt is 3.6x EBITDA, above the 3x level that lenders usually watch.
- Altman Z-score of 1.6 is in the zone linked with financial distress in past studies.
Opportunitiesvaluation and setting
- Trades at 8.8x earnings, 74% below the 34.3x median of industry peers.
- The price is 35% below our fair value estimate, with the gap larger than the margin we allow for error.
Threatsvaluation and setting
- Heavy debt makes profits sensitive to interest rates and refinancing conditions.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare MKC with peers and sector
Medians of 5 Packaged Foods & Meats peers and of 28 Consumer Staples stocks in our universe.
Largest peers (X-Ray Score): MDLZ 36, KHC 29, TSN 43, GIS 28, HRL 42.
| Metric | MKC | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 54 | 36 | 50 |
| Valuation | 83 | 44 | 53 |
| Growth | 57 | 29 | 48 |
| Profitability | 38 | 27 | 53 |
| Financial health | 28 | 19 | 54 |
| Dividends | 66 | 51 | 50 |
Sector leaders: highest X-Ray Score in Consumer Staples
MKC ranks #12 of 29 in Consumer Staples and #1 of 6 in Packaged Foods & Meats by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for MKC
Each factor is rated by where MKC stands among the 29 Consumer Staples stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 5 Good · 11 Average · 6 Bad of 22
Growth: 0 · 3 · 0
Profitability: 1 · 3 · 1
Financial strength: 0 · 1 · 3
Valuation: 3 · 2 · 0
Cash flow: 1 · 1 · 2
Efficiency: 0 · 1 · 0
| Factor | MKC | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +2.5% | Average beats 52% | +2.3% | – | – |
| Revenue growth, last year | +1.7% | Average beats 41% | +2.2% | +1.7% | ≈ In line |
| EPS growth, 3 years a year | +5.2% | Average beats 58% | +2.0% | – | – |
| Profitability | |||||
| Gross margin | 39.1% | Average beats 54% | 38.7% | 37.9% | ≈ In line |
| Operating margin | 13.4% | Average beats 54% | 11.0% | 15.7% | ▼ Worse |
| Net margin | 19.4% | Good beats 84% | 6.9% | 11.5% | ▲ Better |
| Return on invested capital | 6.4% | Bad beats 31% | 15.2% | – | – |
| Return on equity | 21.3% | Average beats 56% | 18.6% | 14.6% | ▲ Better |
| Financial strength | |||||
| Net debt / EBITDA | 3.6x | Bad beats 22% | 2.0x | 3.9x | ≈ In line |
| Interest cover | 4.6x | Bad beats 21% | 11.8x | 5.5x | ≈ In line |
| Current ratio | 0.66 | Bad beats 13% | 1.04 | 0.70 | ≈ In line |
| Piotroski F-score | 6 / 9 | Average beats 52% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 8.8x | Good beats 98% | 25.0x | 26.8x | ▲ Better |
| Price / book | 1.9x | Good beats 79% | 4.5x | 4.0x | ▲ Better |
| Price / sales | 1.7x | Average beats 52% | 1.8x | 3.1x | ▲ Better |
| EV / EBITDA | 14.1x | Average beats 60% | 15.2x | 20.3x | ▲ Better |
| Free cash flow yield | 7.1% | Good beats 87% | 4.8% | 3.1% | ▲ Better |
| Cash flow | |||||
| Free cash flow margin | 12.0% | Average beats 63% | 9.3% | 9.6% | ▲ Better |
| Cash from operations / net income | 0.77 | Bad beats 2% | 1.54 | 1.17 | ▼ Worse |
| Free cash flow growth, 3 years a year | +23.9% | Good beats 74% | +11.0% | – | – |
| Accruals (lower is better) | +2.1% | Bad beats 2% | −4.2% | – | – |
| Efficiency | |||||
| Days sales outstanding | 39 days | Average beats 36% | 35 days | 32 days | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 3 Good · ● 6 Average · ● 7 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldGood
Risk models
Altman Z''Bad
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Good
Revenue growth (3y)Average
Growth consistencyAverage
Balance sheet
Current ratioBad
Net debt / EBITDABad
Interest coverBad
Valuation
Fair value vs priceGood
EBIT / EV yieldAverage
Profitability
Return on invested capitalBad
Operating marginAverage
Gross profitabilityBad
Each check is graded against the company's sector, not a fixed number. Checklist score 47/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $6.3B | $6.4B | $6.7B | $6.7B | $6.8B |
| Operating income | $1.0B | $864M | $963M | $1.1B | $1.1B |
| Net income | $755M | $682M | $681M | $789M | $789M |
| Operating cash flow | $828M | $652M | $1.2B | $922M | $962M |
| Operating margin | 16.1% | 13.6% | 14.5% | 15.8% | 15.7% |
| Free cash flow | $550M | $390M | $973M | $647M | $740M |
| Diluted EPS | $2.80 | $2.52 | $2.52 | $2.92 | $2.93 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bearish
6 bullish · 1 neutral · 9 bearish
Weekly
Strongly bearish
1 bullish · 1 neutral · 10 bearish
Monthly
Strongly bearish
0 bullish · 1 neutral · 7 bearish
Moving averages (daily)
| SMA 10 | 45.94 | Bullish |
| EMA 10 | 46.49 | Bullish |
| SMA 20 | 45.83 | Bullish |
| EMA 20 | 46.62 | Bullish |
| SMA 50 | 49.56 | Bearish |
| EMA 50 | 48.20 | Bullish |
| SMA 100 | 49.64 | Bearish |
| EMA 100 | 49.73 | Bearish |
| SMA 200 | 52.91 | Bearish |
| EMA 200 | 52.89 | Bearish |
Oscillators (daily)
| RSI (14) | 57.36 | Neutral |
| MACD (12, 26) | -0.55 | Bearish |
| Momentum (12) | 8.43 | Bullish |
| Stochastic %K (14) | 100.0 | Bearish |
| Williams %R (14) | 0.00 | Bearish |
| CCI (20) | 127.3 | Bearish |
Pivot points (classic, last session)
S3 45.05 | S2 45.78 | S1 47.25 | Pivot 47.98 | R1 49.44 | R2 50.17 | R3 51.64 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
1.92 USD
Yield on today's price
3.94%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.4800 | |
| 0.4800 | |
| 0.4800 | |
| 0.4800 | |
| 0.4500 | |
| 0.4500 | |
| 0.4500 | |
| 0.4500 | |
| 0.4200 | |
| 0.4200 | |
| 0.4200 | |
| 0.4200 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold MKC
| ETF | Share of the fund |
|---|---|
| RSPS Invesco S&P 500 Equal Weight Consumer... | 3.09% |
| KNG FT Cboe Vest S&P 500 Dividend Aristocr... | 1.34% |
| NOBL ProShares S&P 500 Dividend Aristocrats | 1.34% |
| MOAT VanEck Morningstar Wide Moat | 1.29% |
| XLP Consumer Staples Select Sector SPDR | 0.83% |
| FSTA Fidelity MSCI Consumer Staples Index | 0.60% |
| SDY SPDR S&P Dividend | 0.60% |
| IYK iShares US Consumer Staples | 0.59% |
The eight funds with the largest weight in MKC among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
MKC stock splits
MKC has split its stock 4 times since 1990. The latest was a 2-for-1 split on 1 Dec 2020.
Full MKC stock split history →MKC SEC filings
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Change of auditor
8-KSEC EDGAR
Director or officer change
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Entered a material agreement; Other events
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.