McCormick & Company, Incorporated (MKC) Key Metrics
MKC valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $12.47B
- Enterprise value
- $22.60B
- P/E (TTM)
- 8.4 10-yr median 27.8
- Forward P/E
- 14.3
- PEG ratio
- 1.90
- Price / sales
- 1.6 10-yr median 3.4
- Price / book
- 1.9 10-yr median 5.2
- EV / EBITDA
- 17.1 10-yr median 22.9
- Dividend yield
- 3.92% $1.92 a year
- Beta
- 0.64
MKC key metrics, FY2016–FY2025
Fiscal year ended November 30, 2025 · U.S. dollarsMKC valuation Price multiples at each fiscal year-end price.
MKC returns How much profit the business earns on the capital it uses.
MKC per-share figures Results divided by the shares outstanding at year-end.
MKC financial health Debt, liquidity and how easily interest is covered.
MKC efficiency & capital use Working capital cycle and where the cash goes.
MKC valuation history
MKC returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MKC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MKC cash returned to shareholders
MKC price vs earnings per share
MKC key metrics
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $18.18B | $21.14B | $17.49B | $23.02B | $23.16B | $25.16B | $22.70B | $20.00B | $13.12B | $11.67B |
| Enterprise value | $22.08B | $25.46B | $21.92B | $28.01B | $28.20B | $29.74B | $26.87B | $24.60B | $17.96B | $13.00B |
| P/E ratio | 23.0 | 26.8 | 28.0 | 33.7 | 30.7 | 33.7 | 32.3 | 21.4 | 27.5 | 24.7 |
| Price / sales | 2.7 | 3.1 | 2.6 | 3.6 | 3.7 | 4.5 | 4.2 | 3.8 | 2.8 | 2.6 |
| Price / book | 3.2 | 4.0 | 3.5 | 4.9 | 5.3 | 6.4 | 6.6 | 6.3 | 5.1 | 7.2 |
| Price / free cash flow | 24.6 | 32.7 | 18.0 | 59.1 | 42.1 | 30.8 | 29.4 | 30.7 | 20.7 | 23.1 |
| Price / operating cash flow | 18.9 | 22.9 | 14.1 | 35.3 | 28.0 | 24.2 | 24.0 | 24.4 | 16.1 | 17.7 |
| EV / sales | 3.2 | 3.8 | 3.3 | 4.4 | 4.5 | 5.3 | 5.0 | 4.6 | 3.8 | 2.9 |
| EV / EBITDA | 16.5 | 19.3 | 22.8 | 24.1 | 23.1 | 25.2 | 23.5 | 23.1 | 21.6 | 17.2 |
| EV / free cash flow | 29.8 | 39.4 | 22.5 | 71.9 | 51.2 | 36.4 | 34.8 | 37.7 | 28.4 | 25.8 |
| Earnings yield | 4.3% | 3.7% | 3.6% | 3.0% | 3.3% | 3.0% | 3.1% | 4.7% | 3.6% | 4.0% |
| Free cash flow yield | 4.1% | 3.1% | 5.6% | 1.7% | 2.4% | 3.2% | 3.4% | 3.3% | 4.8% | 4.3% |
| Dividend yield | 2.7% | 2.1% | 2.4% | 1.7% | 1.6% | 1.3% | 1.3% | 1.4% | 1.8% | 1.9% |
| Shareholder yield (dividends + buybacks) | 2.8% | 2.4% | 2.6% | 1.9% | 1.6% | 1.5% | 1.8% | 1.7% | 2.9% | 3.9% |
| Share price at fiscal year-end | $67.48 | $78.41 | $64.83 | $85.18 | $85.82 | $93.49 | $84.62 | $75.00 | $51.09 | $45.60 |
| Per share | ||||||||||
| Revenue per share | $25.39 | $24.94 | $24.69 | $23.50 | $23.41 | $20.81 | $19.94 | $19.88 | $18.42 | $17.23 |
| Earnings per share | $2.93 | $2.92 | $2.31 | $2.52 | $2.80 | $2.78 | $2.62 | $3.50 | $1.86 | $1.84 |
| Operating cash flow per share | $3.57 | $3.42 | $4.59 | $2.41 | $3.07 | $3.87 | $3.53 | $3.08 | $3.17 | $2.57 |
| Free cash flow per share | $2.75 | $2.40 | $3.61 | $1.44 | $2.04 | $3.03 | $2.88 | $2.45 | $2.46 | $1.97 |
| Cash per share | $0.36 | $0.69 | $0.62 | $1.24 | $1.30 | $1.57 | $0.58 | $0.36 | $0.73 | $0.46 |
| Book value per share | $21.29 | $19.63 | $18.76 | $17.32 | $16.34 | $14.59 | $12.84 | $11.89 | $9.97 | $6.35 |
| Tangible book value per share | −$10.61 | −$12.74 | −$13.77 | −$15.10 | −$16.74 | −$16.41 | −$14.86 | −$16.03 | −$19.48 | −$2.23 |
| Dividends per share | $1.79 | $1.67 | $1.55 | $1.47 | $1.35 | $1.23 | $1.13 | $1.03 | $0.93 | $0.85 |
| Capex per share | $0.82 | $1.02 | $0.98 | $0.97 | $1.03 | $0.84 | $0.65 | $0.63 | $0.71 | $0.60 |
| Debt per share | $14.83 | $16.72 | $17.02 | $19.71 | $19.97 | $18.61 | $16.12 | $17.61 | $19.58 | $5.65 |
| Shares outstanding | 269.4M | 269.6M | 269.8M | 270.2M | 269.9M | 269.1M | 268.2M | 266.7M | 256.8M | 256.0M |
| Change in shares outstanding | −0.1% | −0.1% | −0.1% | +0.1% | +0.3% | +0.3% | +0.6% | +3.8% | +0.3% | −0.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 14.3% | 15.2% | 12.8% | 15.0% | 18.1% | 20.3% | 21.2% | 32.6% | 22.8% | 28.7% |
| Return on invested capital (ROIC) | 8.7% | 8.8% | 7.9% | 7.2% | 8.9% | 9.9% | 10.1% | 11.7% | 10.1% | 16.4% |
| Return on assets (ROA) | 6.0% | 6.1% | 4.8% | 5.2% | 6.0% | 6.7% | 6.8% | 9.0% | 6.4% | 10.4% |
| Return on tangible assets | 17.1% | 18.1% | 15.3% | 15.6% | 19.0% | 19.9% | 24.0% | 33.2% | 16.9% | 19.4% |
| Free cash flow margin | 10.8% | 9.6% | 14.6% | 6.1% | 8.7% | 14.6% | 14.5% | 12.3% | 13.4% | 11.4% |
| Income quality (OCF / net income) | 1.22 | 1.17 | 1.98 | 0.96 | 1.10 | 1.39 | 1.35 | 0.88 | 1.71 | 1.39 |
| Financial health | ||||||||||
| Total debt | $4.00B | $4.51B | $4.59B | $5.33B | $5.39B | $5.01B | $4.32B | $4.70B | $5.03B | $1.45B |
| Cash & short-term investments | $95.9M | $186.1M | $166.6M | $334.0M | $351.7M | $423.6M | $155.4M | $96.6M | $186.8M | $118.4M |
| Net debt | $3.90B | $4.32B | $4.42B | $4.99B | $5.04B | $4.58B | $4.17B | $4.60B | $4.84B | $1.33B |
| Debt / equity | 0.70 | 0.85 | 0.91 | 1.14 | 1.22 | 1.28 | 1.26 | 1.48 | 1.96 | 0.89 |
| Debt / assets | 0.30 | 0.34 | 0.36 | 0.41 | 0.42 | 0.41 | 0.42 | 0.46 | 0.48 | 0.31 |
| Net debt / EBITDA | 2.91 | 3.28 | 4.59 | 4.29 | 4.13 | 3.88 | 3.65 | 4.31 | 5.82 | 1.76 |
| Current ratio | 0.70 | 0.74 | 0.65 | 0.70 | 0.68 | 0.68 | 0.72 | 0.74 | 0.83 | 1.00 |
| Quick ratio | 0.28 | 0.31 | 0.28 | 0.30 | 0.31 | 0.34 | 0.35 | 0.35 | 0.42 | 0.47 |
| Interest coverage | 5.5 | 5.1 | 4.6 | 5.8 | 7.4 | 7.4 | 5.8 | 5.1 | 6.3 | 11.4 |
| Working capital | −$924.1M | −$743.8M | −$1.10B | −$1.05B | −$1.03B | −$962.9M | −$604.2M | −$521.8M | −$330.3M | −$900,000 |
| Invested capital | $9.64B | $9.61B | $9.49B | $9.67B | $9.45B | $8.51B | $7.61B | $7.77B | $7.40B | $2.96B |
| Tangible asset value | −$2.83B | −$3.41B | −$3.69B | −$4.06B | −$4.50B | −$4.40B | −$3.97B | −$4.26B | −$4.99B | −$558.2M |
| Net current asset value | −$5.29B | −$5.61B | −$5.78B | −$6.04B | −$6.28B | −$6.07B | −$5.36B | −$5.59B | −$6.20B | −$1.58B |
| Graham number | $37.47 | $35.94 | $31.25 | $31.36 | $32.08 | $30.19 | $27.51 | $30.60 | $20.42 | $16.24 |
| Graham net-net per share | −$23.12 | −$24.14 | −$24.49 | −$25.87 | −$26.40 | −$25.32 | −$22.27 | −$23.23 | −$26.54 | −$8.41 |
| Capital allocation | ||||||||||
| Dividends paid | $483.0M | $451.0M | $418.5M | $396.7M | $363.3M | $330.1M | $302.2M | $273.4M | $237.6M | $217.8M |
| Share buybacks (net) | $34.8M | $53.1M | $35.7M | $38.8M | $8.6M | $47.3M | $95.1M | $62.3M | $137.8M | $242.7M |
| Dividend payout ratio | 61.2% | 57.2% | 67.0% | 58.2% | 48.1% | 44.2% | 43.0% | 29.3% | 49.8% | 46.1% |
| Dividends + buybacks / free cash flow | 69.9% | 77.9% | 46.7% | 111.8% | 67.6% | 46.2% | 51.4% | 51.5% | 59.3% | 91.3% |
| Capex / revenue | 3.2% | 4.1% | 4.0% | 4.1% | 4.4% | 4.0% | 3.2% | 3.2% | 3.9% | 3.5% |
| Capex / operating cash flow | 23.1% | 29.8% | 21.3% | 40.2% | 33.6% | 21.6% | 18.3% | 20.6% | 22.4% | 23.4% |
| Capex / depreciation | 0.96 | 1.32 | 1.32 | 1.31 | 1.49 | 1.37 | 1.09 | 1.12 | 1.46 | 1.41 |
| Stock-based compensation / revenue | 0.7% | 0.7% | 1.0% | 0.9% | 1.1% | 0.8% | 0.7% | 0.5% | 0.5% | 0.6% |
| R&D / revenue | — | 1.5% | 1.4% | 1.4% | 1.4% | 1.2% | 1.3% | 1.3% | 1.4% | 1.4% |
| SG&A / revenue | 21.9% | 21.0% | 22.2% | 19.8% | 20.7% | 21.5% | 20.2% | 20.4% | 20.3% | 25.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 32.5 | 31.9 | 31.8 | 32.3 | 31.1 | 33.6 | 34.8 | 36.9 | 39.4 | 38.1 |
| Days of inventory on hand | 107.9 | 104.5 | 108.2 | 112.9 | 105.7 | 101.4 | 90.5 | 89.8 | 96.3 | 103.8 |
| Days payables outstanding | 107.3 | 104.1 | 100.5 | 100.1 | 100.1 | 103.9 | 88.7 | 76.8 | 67.8 | 61.0 |
| Cash conversion cycle (days) | 33.1 | 32.3 | 39.5 | 45.1 | 36.8 | 31.1 | 36.6 | 50.0 | 67.9 | 80.8 |
| Receivables turnover | 11.25 | 11.45 | 11.47 | 11.31 | 11.72 | 10.86 | 10.47 | 9.88 | 9.27 | 9.59 |
| Payables turnover | 3.40 | 3.51 | 3.63 | 3.65 | 3.65 | 3.51 | 4.11 | 4.76 | 5.38 | 5.98 |
| Inventory turnover | 3.38 | 3.49 | 3.37 | 3.23 | 3.45 | 3.60 | 4.03 | 4.06 | 3.79 | 3.52 |
| Asset turnover | 0.52 | 0.52 | 0.51 | 0.49 | 0.51 | 0.50 | 0.52 | 0.51 | 0.63 | 0.97 |
| Average receivables | $608.1M | $587.5M | $580.6M | $561.6M | $539.0M | $515.7M | $510.5M | $536.6M | $510.1M | $460.2M |
| Average payables | $1.25B | $1.18B | $1.15B | $1.12B | $1.05B | $939.6M | $778.5M | $675.0M | $545.4M | $431.4M |
| Average inventory | $1.26B | $1.18B | $1.23B | $1.26B | $1.11B | $916.9M | $793.8M | $789.8M | $774.8M | $733.5M |
| Intangibles / total assets | 65.1% | 66.8% | 68.2% | 66.8% | 69.2% | 69.0% | 71.7% | 72.6% | 72.8% | 47.4% |
Computed from MKC's annual financial statements (latest annual report filed January 22, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MKC valuation and financial ratios
At the end of fiscal 2025 (November 30, 2025), McCormick traded at 23.0 times earnings, against a 10-year median of 27.8. Based on the latest twelve months, the trailing P/E is 8.4 and the forward P/E is 14.3. McCormick earned a return on equity of 14.3% and a return on invested capital of 8.7% in fiscal 2025. It ended the year with $4.0 billion of debt and $95.9 million in cash and short-term investments, net debt of $3.9 billion. It returned $517.8 million to shareholders: $483.0 million in dividends and $34.8 million in share buybacks, 70% of free cash flow. The share count rose 5.2% from 256.0M to 269.4M over 9 years.
See the MKC income statement, the MKC chart for price history, or the MKC stock overview for the latest quote and news.
MKC key metrics FAQ
What is McCormick's P/E ratio?
McCormick's trailing P/E ratio is 8.4 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 14.3. At the end of fiscal 2025 it was 23.0, compared with a 10-year median of 27.8.
What is McCormick's EV/EBITDA?
McCormick's enterprise value was 16.5 times EBITDA at the end of fiscal 2025 (enterprise value $22.1 billion, EBITDA $1.3 billion); the current EV/EBITDA is 17.1.
What is McCormick's return on equity?
McCormick's return on equity (ROE) was 14.3% in fiscal 2025: net income of $789.4 million on average shareholders' equity of $5.5 billion.
What is McCormick's ROIC?
McCormick's return on invested capital was 8.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does McCormick have?
McCormick had total debt of $4.0 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.70 and $3.9 billion of net debt (2.91 times EBITDA).
What is McCormick's dividend yield?
McCormick's forward dividend yield is 3.92%. McCormick paid $483.0 million in dividends in fiscal 2025 ($1.79 per share), a payout ratio of 61.2%.
Does McCormick buy back its shares?
Yes. McCormick spent $34.8 million on net share repurchases in fiscal 2025 Shares outstanding changed −0.1% over the year, to 269.4M..
What is McCormick's free cash flow yield?
McCormick generated $740.4 million of free cash flow in fiscal 2025, a free cash flow yield of 4.1% on its market value at year-end ($18.2 billion).
What is McCormick's current ratio?
McCormick's current ratio was 0.70 at the end of fiscal 2025: current assets were 0.70 times current liabilities.