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Global spice, seasoning and flavor company behind McCormick spices, French's mustard and Frank's RedHot sauce.
Global spice, seasoning and flavor company behind McCormick spices, French's mustard and Frank's RedHot sauce.
Splits into selling branded products to grocers and selling custom seasonings and flavors to food makers and restaurant chains, with the grocery side the bigger part. The 2017 purchase of French's and Frank's RedHot from Reckitt widened it beyond spices.
Moat: narrow (brand, scale, distribution). Category-leading spice brand with dominant grocery shelf share and long-standing manufacturer flavor contracts.
Headquarters: Hunt Valley, Maryland, US · Founded: 1889 · Employees: 14,100
Size McCormick & (MKC) is a United States Consumer Staples company (Food: Specialty/Candy) with a market value of $13.0B, the 662nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $48.40 on 6 Nov 2026.
Performance Over six months the shares gained 0.2%, against +1.2% for the median peer and -1.1% for the United States market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 13.2% over the last twelve months (peer median +6.7%); the operating margin is 17.0% (peer median 11.2%).
Valuation It trades at 15.9× forward earnings against a peer median of 18.0× (7th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.8 points above its cost of capital (7.4% WACC).
Credit McCormick & has 7 bonds outstanding ($3.55B), rated BBB by the agencies and trading like A- at a weighted spread of 79 bp.
Short interest Short interest is 7.5% of the free float (15 Oct 2026).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $7.69B | $6.84B | $6.72B | $6.66B | $6.35B |
| Revenue growth | — | +2% | +1% | +5% | — |
| Gross profit | $3.03B | $2.59B | $2.59B | $2.50B | $2.27B |
| EBITDA | $1.58B | $1.32B | $1.28B | $1.22B | $1.12B |
| Net income | $1.49B | $789M | $788M | $681M | $682M |
| Free cash flow | $926M | $740M | $647M | $973M | $390M |
| Capital expenditure | $215M | $222M | $275M | $264M | $262M |
| Total debt | $5.02B | $4.22B | $4.56B | $4.64B | $5.38B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| McCormick & MKC | $13.0B | 0% | +13% | 17% | 15.9× | 3.2% |
| Sensient Technologies SXT | $5.07B | +1% | +10% | 15% | 25.0× | n/a |
| Kraft Heinz KHC | $29.2B | +5% | -2% | 17% | 12.5× | -3.9% |
| Givaudan GIVN.SW | $45.8B | +47% | -2% | 18% | 34.0× | 10.6% |
| Symrise SY1.DE | $15.1B | +30% | -1% | 12% | 24.8× | 8.1% |
| International Flavors & Fragrances IFF | $20.7B | +2% | -17% | 11% | 23.4× | 17.9% |
| DSM-Firmenich DSFIR.AS | $29.5B | +62% | -45% | 8% | 30.1× | 24.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MKC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.3% | +4.9% | 11th highest of 21 |
| 6-month return | +0.2% | +1.2% | 10th lowest of 21 |
| Distance from 52-week high | -32.6% | -16.5% | 2nd lowest of 21 |
| Revenue growth (TTM) | +13.2% | +6.7% | 4th highest of 21 |
| Operating margin | 17.0% | 11.2% | 5th highest of 21 |
| Forward P/E | 15.9× | 18.0× | 7th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 3.2% | 3.4% | 9th least demanding of 18 |
| Growth delivered (Del g) | +4.1% | +8.1% | 4th lowest of 18 |
| Hurdle (Req g minus delivered) | -0.8 pp | -8.5 pp | 5th most demanding of 18 |
| ROIC minus cost of capital | +0.8 pp | +3.6 pp | 5th lowest of 21 |
| EV / EBITDA | 11.6× | 11.5× | 10th cheapest of 19 |
| Net debt / EBITDA | 3.0× | 1.1× | 5th most indebted of 19 |
| Bond spread | 79 bp | 111 bp | 2nd tightest of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| McCormick & MKC | United States | $13.0B | 0% | +13% | 17% | 15.9× | 3.2% | +4.1% |
| J.M. Smucker Company (The) SJM | United States | $13.9B | +33% | +5% | 19% | 12.9× | -7.1% | +2.5% |
| Britannia Industries BRITANNIA.NS | India | $12.1B | -18% | +7% | 17% | 41.7× | 28.9% | +7.8% |
| Tata Consumer Products TATACONSUM.NS | India | $11.4B | -6% | +15% | 11% | 55.5× | 42.8% | +11.8% |
| Kikkoman 2801.T | Japan | $10.9B | +24% | +9% | 11% | 24.8× | 8.8% | +11.2% |
| Orkla ORK.OL | Norway | $10.8B | -6% | 0% | 10% | 15.5× | -1.1% | +8.7% |
| Barry Callebaut BARN.SW | Switzerland | $8.33B | +5% | +9% | 5% | 23.7× | -8.4% | +16.5% |
| Darling Ingredients DAR | United States | $7.92B | -20% | +16% | 9% | 7.3× | 9.0% | +11.4% |
| Lamb Weston LW | United States | $7.61B | +31% | +3% | 10% | 16.6× | 4.0% | +12.5% |
| Meiji 2269.T | Japan | $7.35B | +14% | +4% | 8% | 17.2× | n/a | n/a |
| Campbell's CPB | United States | $6.90B | +11% | -5% | 11% | 13.7× | -3.6% | +2.8% |
| Chocoladefabriken Lindt & Spruengli LISN.SW | Switzerland | $24.6B | -8% | +4% | 16% | 28.2× | 3.4% | +8.1% |
| Toyo Suisan Kaisha 2875.T | Japan | $6.74B | -4% | +7% | 17% | 14.5× | -5.0% | +9.5% |
| Ajinomoto 2802.T | Japan | $25.3B | -16% | +7% | 11% | 29.4× | 19.2% | +8.1% |
| Ingredion INGR | United States | $5.78B | -15% | -1% | 12% | 9.7× | -7.8% | +3.8% |
| Foshan Haitian Flavouring and Food 3288.HK | Hong Kong | $29.4B | -24% | +11% | 27% | 18.0× | -4.6% | +4.2% |
| Nissin Foods 2897.T | Japan | $5.73B | +9% | +5% | 6% | 17.9× | n/a | n/a |
| Balchem BCPC | United States | $5.54B | +8% | +9% | 22% | 30.9× | 14.5% | +8.1% |
| Yamazaki Baking 2212.T | Japan | $5.08B | +21% | +5% | 5% | 18.0× | -3.3% | +5.3% |
| Sensient Technologies SXT | United States | $5.07B | +1% | +10% | 15% | 25.0× | n/a | n/a |
| Angel Yeast 600298.SS | China | $4.97B | +2% | +15% | 11% | 19.1× | 4.1% | +13.4% |
McCormick & has 7 bonds outstanding with $3.55B face value. The agencies rate it BBB; its bonds trade like A-. Weighted yield 5.48%, a spread of 79 bp over government bonds.