McCormick & Company, Incorporated (MKC) Balance Sheet
MKC balance sheet, FY2025
November 30, 2025 · U.S. dollars$13.20B assets = $7.43B liabilities + $5.77B equity
Both columns are drawn to the same scale: what MKC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MKC financial health
Descriptive bands, not a rating. Fiscal FY2025.
MKC balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $4.64BFY2016 | $13.20BFY2025 | +12.3%/yr | |
| Total liabilities | $3.00BFY2016 | $7.43BFY2025 | +10.6%/yr | |
| Shareholders’ equity | $1.63BFY2016 | $5.74BFY2025 | +15.0%/yr | |
| Cash & short-term investments | $118.4MFY2016 | $95.9MFY2025 | −2.3%/yr | |
| Total debt | $1.45BFY2016 | $4.00BFY2025 | +11.9%/yr | |
| Net cash (debt) | −$1.33BFY2016 | −$3.90BFY2025 | −$2.6B | |
| Working capital | −$900,000FY2016 | −$924.1MFY2025 | −$923.2M | |
| Book value per share | $6.35FY2016 | $21.29FY2025 | +14.4%/yr | |
| Current ratio | 1.00FY2016 | 0.70FY2025 | −0.30 | |
| Debt / equity | 0.89FY2016 | 0.70FY2025 | −0.19 | |
| Shares outstanding | 256.0MFY2016 | 269.4MFY2025 | +0.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MKC assets
MKC liabilities and equity
MKC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MKC balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $95.9M | $186.1M | $166.6M | $334.0M | $351.7M | $423.6M | $155.4M | $96.6M | $186.8M | $118.4M |
| Cash & equivalents | $95.9M | $186.1M | $166.6M | $334.0M | $351.7M | $423.6M | $155.4M | $96.6M | $186.8M | $118.4M |
| Short-term investments | — | — | — | — | — | — | — | — | −$107.9M | −$97.6M |
| Receivables | $628.9M | $587.4M | $587.5M | $573.7M | $549.5M | $528.5M | $502.9M | $518.1M | $555.1M | $465.2M |
| Inventory | $1.27B | $1.24B | $1.13B | $1.34B | $1.18B | $1.03B | $801.2M | $786.3M | $793.3M | $756.3M |
| Other current assets | $141.3M | $125.6M | $121.0M | $138.9M | $112.3M | $98.9M | $90.7M | $78.9M | $81.8M | $81.9M |
| Total current assets | $2.14B | $2.14B | $2.00B | $2.39B | $2.20B | $2.08B | $1.55B | $1.48B | $1.62B | $1.42B |
| Property, plant & equipment (net) | $1.45B | $1.62B | $1.54B | $1.42B | $1.28B | $1.17B | $952.6M | $941.5M | $809.1M | $669.4M |
| Goodwill & intangible assets | $8.59B | $8.73B | $8.78B | $8.76B | $8.93B | $8.34B | $7.43B | $7.44B | $7.56B | $2.20B |
| Long-term investments | $300.7M | $282.7M | $264.1M | $939.4M | $781.4M | $752.0M | $507.1M | $390.2M | $398.5M | $348.4M |
| Other non-current assets | $718.4M | $299.1M | $275.2M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $13.20B | $13.07B | $12.86B | $13.12B | $12.91B | $12.09B | $10.36B | $10.26B | $10.39B | $4.64B |
| Liabilities | ||||||||||
| Accounts payable | $1.26B | $1.24B | $1.12B | $1.17B | $1.06B | $1.03B | $846.9M | $710.0M | $639.9M | $450.8M |
| Short-term debt | $890.5M | $748.3M | $1.07B | $1.51B | $1.31B | $1.15B | $698.4M | $643.5M | $583.2M | $393.2M |
| Total current liabilities | $3.06B | $2.88B | $3.10B | $3.43B | $3.22B | $3.05B | $2.15B | $2.00B | $1.95B | $1.42B |
| Long-term debt | $3.11B | $3.59B | $3.34B | $3.64B | $3.97B | $3.75B | $3.63B | $4.05B | $4.44B | $1.05B |
| Lease obligations | $167.7M | $166.6M | $179.9M | $176.1M | $106.1M | $103.5M | — | — | — | — |
| Other long-term liabilities | $1.26B | $1.28B | $1.34B | $1.35B | $1.28B | $1.35B | $1.13B | $1.02B | $1.42B | $521.1M |
| Total liabilities | $7.43B | $7.75B | $7.78B | $8.43B | $8.48B | $8.15B | $6.91B | $7.07B | $7.81B | $3.00B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $2.28B | $2.24B | $2.20B | $2.14B | $2.06B | $1.98B | $1.89B | $1.77B | $1.67B | $1.08B |
| Retained earnings (deficit) | $3.82B | $3.54B | $3.25B | $3.02B | $2.78B | $2.42B | $2.06B | $1.76B | $1.17B | $1.06B |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$363.1M | −$491.2M | −$388.6M | −$480.6M | −$426.5M | −$470.8M | −$500.2M | −$359.9M | −$279.5M | −$514.4M |
| Minority interest | $31.6M | $25.8M | $22.8M | $18.7M | $14.5M | $13.9M | $12.5M | $11.3M | $11.0M | $11.5M |
| Total shareholders' equity | $5.74B | $5.29B | $5.06B | $4.68B | $4.41B | $3.93B | $3.44B | $3.17B | $2.56B | $1.63B |
| Key figures | ||||||||||
| Total debt | $4.00B | $4.51B | $4.59B | $5.33B | $5.39B | $5.01B | $4.32B | $4.70B | $5.03B | $1.45B |
| Net cash (debt) | −$3.90B | −$4.32B | −$4.42B | −$4.99B | −$5.04B | −$4.58B | −$4.17B | −$4.60B | −$4.84B | −$1.33B |
| Working capital | −$924.1M | −$743.8M | −$1.10B | −$1.05B | −$1.03B | −$962.9M | −$604.2M | −$521.8M | −$330.3M | −$900,000 |
| Tangible book value | −$2.86B | −$3.43B | −$3.72B | −$4.08B | −$4.52B | −$4.42B | −$3.98B | −$4.27B | −$5.00B | −$569.7M |
| Book value per share | $21.29 | $19.63 | $18.76 | $17.32 | $16.34 | $14.59 | $12.84 | $11.89 | $9.97 | $6.35 |
| Shares outstanding | 269.4M | 269.6M | 269.8M | 270.2M | 269.9M | 269.1M | 268.2M | 266.7M | 256.8M | 256.0M |
| Current ratio | 0.70 | 0.74 | 0.65 | 0.70 | 0.68 | 0.68 | 0.72 | 0.74 | 0.83 | 1.00 |
| Quick ratio | 0.24 | 0.27 | 0.24 | 0.26 | 0.28 | 0.31 | 0.31 | 0.31 | 0.38 | 0.41 |
| Debt / equity | 0.70 | 0.85 | 0.91 | 1.14 | 1.22 | 1.28 | 1.26 | 1.48 | 1.96 | 0.89 |
| Equity / assets | 43.5% | 40.5% | 39.3% | 35.7% | 34.2% | 32.5% | 33.2% | 30.9% | 24.6% | 35.1% |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $331.1M | $331.2M | $177.7M | $95.9M | $94.9M | $124.1M | $102.8M | $186.1M | $200.8M | $166.3M | $178.0M | $166.6M |
| Cash & equivalents | $331.1M | $331.2M | $177.7M | $95.9M | $94.9M | $124.1M | $102.8M | $186.1M | $200.8M | $166.3M | $178.0M | $166.6M |
| Receivables | $831.5M | $709.4M | $829.2M | $628.9M | $668.7M | $584.5M | $516.9M | $587.4M | $660.9M | $598.5M | $567.5M | $587.5M |
| Inventory | $0 | $1.41B | $1.37B | $1.27B | $1.32B | $1.31B | $1.25B | $1.24B | $1.24B | $1.16B | $1.13B | $1.13B |
| Other current assets | $1.74B | $339.6M | $235.9M | $141.3M | $136.8M | $150.2M | $147.4M | $125.6M | $140.0M | $146.4M | $145.1M | $121.0M |
| Total current assets | $2.90B | $2.79B | $2.61B | $2.14B | $2.22B | $2.17B | $2.01B | $2.14B | $2.24B | $2.07B | $2.02B | $2.00B |
| Property, plant & equipment (net) | $1.54B | $1.50B | $1.51B | $1.45B | $1.42B | $1.42B | $1.39B | $1.62B | $1.40B | $1.37B | $1.35B | $1.54B |
| Goodwill & intangible assets | $11.26B | $11.23B | $11.28B | $8.59B | $8.62B | $8.60B | $8.51B | $8.73B | $8.61B | $8.60B | $8.60B | $8.78B |
| Long-term investments | $0 | $0 | $0 | $300.7M | $0 | $0 | $0 | $282.7M | $0 | $0 | $0 | $264.1M |
| Other non-current assets | $945.3M | $954.7M | $948.6M | $718.4M | $986.5M | $1.01B | $980.0M | $299.1M | $950.7M | $956.0M | $915.0M | $275.2M |
| Total assets | $16.65B | $16.48B | $16.35B | $13.20B | $13.25B | $13.19B | $12.90B | $13.07B | $13.20B | $12.99B | $12.89B | $12.86B |
| Liabilities | ||||||||||||
| Accounts payable | $1.48B | $1.52B | $1.39B | $1.26B | $1.20B | $1.18B | $1.16B | $1.24B | $1.23B | $1.21B | $1.13B | $1.12B |
| Short-term debt | $1.34B | $1.34B | $1.32B | $890.5M | $1.25B | $1.36B | $1.21B | $748.3M | $1.24B | $1.14B | $1.13B | $1.07B |
| Total current liabilities | $4.42B | $3.57B | $3.44B | $3.06B | $3.12B | $3.19B | $3.10B | $2.88B | $3.14B | $2.98B | $2.97B | $3.10B |
| Long-term debt | $0 | $3.60B | $3.60B | $3.11B | $3.10B | $3.10B | $3.10B | $3.59B | $3.34B | $3.33B | $3.33B | $3.34B |
| Lease obligations | — | — | — | $167.7M | — | — | — | $166.6M | — | — | — | $179.9M |
| Other long-term liabilities | $4.64B | $1.73B | $1.74B | $1.26B | $1.24B | $1.27B | $1.25B | $1.28B | $1.27B | $1.32B | $1.33B | $1.34B |
| Total liabilities | $9.06B | $8.90B | $8.79B | $7.43B | $7.46B | $7.56B | $7.45B | $7.75B | $7.75B | $7.63B | $7.63B | $7.78B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $2.33B | $2.31B | $2.31B | $2.28B | $2.27B | $2.26B | $2.25B | $2.24B | $2.23B | $2.23B | $2.21B | $2.20B |
| Retained earnings (deficit) | $4.81B | $4.84B | $4.82B | $3.82B | $3.84B | $3.74B | $3.69B | $3.54B | $3.58B | $3.48B | $3.41B | $3.25B |
| Accumulated other comprehensive income | −$138.0M | −$161.4M | −$148.9M | −$363.1M | −$361.1M | −$401.2M | −$524.6M | −$491.2M | −$390.4M | −$387.6M | −$393.7M | −$388.6M |
| Minority interest | — | $577.7M | $575.8M | $31.6M | $30.8M | $29.0M | — | — | — | — | — | — |
| Total shareholders' equity | $7.00B | $7.00B | $6.98B | $5.74B | $5.75B | $5.60B | $5.42B | $5.29B | $5.42B | $5.33B | $5.23B | $5.06B |
| Key figures | ||||||||||||
| Total debt | $4.25B | $4.93B | $4.92B | $4.00B | $4.36B | $4.45B | $4.31B | $4.51B | $4.59B | $4.46B | $4.46B | $4.59B |
| Net cash (debt) | −$3.92B | −$4.60B | −$4.75B | −$3.90B | −$4.26B | −$4.33B | −$4.20B | −$4.32B | −$4.39B | −$4.30B | −$4.28B | −$4.42B |
| Working capital | −$1.52B | −$783.0M | −$832.8M | −$924.1M | −$896.0M | −$1.02B | −$1.09B | −$743.8M | −$900.0M | −$914.9M | −$953.6M | −$1.10B |
| Tangible book value | −$4.26B | −$4.23B | −$4.30B | −$2.86B | −$2.86B | −$3.00B | −$3.09B | −$3.43B | −$3.19B | −$3.27B | −$3.37B | −$3.72B |
| Book value per share | $26.00 | $25.99 | $25.91 | $21.29 | $21.36 | $20.79 | $20.12 | $19.62 | $20.10 | $19.75 | $19.41 | $18.77 |
| Shares outstanding | 269.4M | 269.2M | 269.4M | 269.4M | 269.3M | 269.4M | 269.5M | 269.7M | 269.7M | 269.7M | 269.6M | 269.6M |
| Current ratio | 0.66 | 0.78 | 0.76 | 0.70 | 0.71 | 0.68 | 0.65 | 0.74 | 0.71 | 0.69 | 0.68 | 0.65 |
| Quick ratio | 0.26 | 0.29 | 0.29 | 0.24 | 0.24 | 0.22 | 0.20 | 0.27 | 0.27 | 0.26 | 0.25 | 0.24 |
| Debt / equity | 0.61 | 0.71 | 0.71 | 0.70 | 0.76 | 0.80 | 0.79 | 0.85 | 0.85 | 0.84 | 0.85 | 0.91 |
| Equity / assets | 42.1% | 42.5% | 42.7% | 43.5% | 43.4% | 42.5% | 42.0% | 40.5% | 41.1% | 41.0% | 40.6% | 39.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed January 22, 2026); data from EODHD.
MKC financial position
At the end of fiscal 2025 (November 30, 2025), McCormick had total assets of $13.2 billion (up 1.0% from a year earlier), total liabilities of $7.4 billion and shareholders' equity of $5.7 billion. It held $95.9 million in cash and short-term investments against $4.0 billion of debt, net debt of $3.9 billion. Its current ratio was 0.70. In the latest quarter (ended August 31, 2026) total assets were $16.7 billion and equity $7.0 billion.
Related: MKC income statement, MKC cash flow statement, MKC key metrics. See the MKC stock overview for the latest quote and news.
MKC balance sheet FAQ
What are McCormick's total assets?
McCormick reported total assets of $13.2 billion at the end of fiscal 2025 (November 30, 2025), compared with $13.1 billion a year earlier.
How much debt does McCormick have?
McCormick had $4.0 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.70.
How much cash does McCormick have?
McCormick held $95.9 million in cash and short-term investments at the end of fiscal 2025; with $4.0 billion of debt that is net debt of $3.9 billion.
What is McCormick's book value?
McCormick's shareholders' equity (book value) was $5.7 billion at the end of fiscal 2025, or $21.29 per share.
What is McCormick's current ratio?
McCormick had current assets of $2.1 billion and current liabilities of $3.1 billion, a current ratio of 0.70 (current liabilities exceed current assets).
How much goodwill does McCormick have?
McCormick carried $8.6 billion of goodwill and intangible assets, 65.1% of total assets, at the end of fiscal 2025.