# McCormick & Company, Incorporated (MKC)

> MKC · NYSE · Consumer staples, packaged food · United States · US GAAP · Fiscal year ends November
>
> Latest report: Q3 FY2026, the quarter ended 31 August 2026, released 1 October 2026. Snapshot FY2026Q3_d6f65a67.

Page: https://annalist.io/company/mccormick/

Identifiers: LEI 549300JQQA6MQ4OJP259, CIK 0000063754

## Latest Figures

| Figure | Value | Exact value | Unit | Change | Period | Period end | Source documents |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue, quarter | $2.0bn | 2024800000 | USD | +17.4% year on year | FY2026 Q3 | 2026-08-31 | 10-Q 2026-08 |
| Operating income, quarter | $217m | 217000000 | USD | −24.8% year on year | FY2026 Q3 | 2026-08-31 | 10-Q 2026-08 |
| Net income, quarter | $97.6m | 97600000 | USD | −56.7% year on year | FY2026 Q3 | 2026-08-31 | 10-Q 2026-08 |
| Diluted EPS, quarter | $0.36 | 0.36 | USD/shares | −57.1% year on year | FY2026 Q3 | 2026-08-31 | 10-Q 2026-08 |
| Operating margin, last 4 quarters | 13.4% | 13.4275 | % | −2.3pp year on year | FY2026 Q3 | 2026-08-31 | 10-K 2025-11, 10-Q 2025-08, 10-Q 2026-02, 10-Q 2026-05, 10-Q 2026-08 |
| Return on equity, last 4 quarters | 23.4% | 23.3692 | % | +9.4pp year on year | FY2026 Q3 | 2026-08-31 | 10-Q 2025-08, 10-Q 2026-08, 10-K 2025-11, 10-Q 2026-02, 10-Q 2026-05 |

- Operating margin: Operating income / revenue.
- Return on equity: Net income attributable to the company / average shareholders' equity attributable to the company.

## Key Findings

Each finding is a sentence written by a fixed rule from the figures; the mark in brackets is how the finding moved against the report before.

- Revenue for the quarter ended 31 August 2026 was US$2.0 billion, 17.4% higher than in the same quarter a year earlier. [Confirmed in Q3 FY2026] Sources: 10-Q 2026-08.
- Net income attributable to the company was US$98 million, 56.7% lower than in the same quarter a year earlier. [Strengthened in Q3 FY2026] Sources: 10-Q 2026-08.
- The operating margin over the last 4 quarters was 13.4%, 2.3 percentage points lower than a year earlier. [Strengthened in Q3 FY2026] Sources: 10-K 2025-11, 10-Q 2025-08, 10-Q 2026-02, 10-Q 2026-05, 10-Q 2026-08.
- Return on equity over the last 4 quarters was 23.4%, against 13.9% a year earlier. [Weakened in Q3 FY2026] Sources: 10-Q 2025-08, 10-Q 2026-08, 10-K 2025-11, 10-Q 2026-02, 10-Q 2026-05, 10-Q 2024-08.
- Free cash flow over the last 4 quarters was US$926 million, and operating cash flow was 0.8 times net income attributable to the company. [Weakened in Q3 FY2026] Sources: 10-K 2025-11, 10-Q 2025-08, 10-Q 2026-02, 10-Q 2026-05, 10-Q 2026-08.
- Net debt was US$4.7 billion at 31 August 2026, 3.6 times EBITDA over the last 4 quarters. [Confirmed in Q3 FY2026] Sources: 10-Q 2026-08, 10-K 2025-11, 10-Q 2025-08, 10-Q 2026-02, 10-Q 2026-05.
- Lease-adjusted debt was 3.5 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 19.1% of that debt. Debt to EBITDA is within the significant band of the S&P standard volatility table and FFO to debt within the aggressive band. The lease figures that the quarters do not report are estimated from the lease cost of fiscal 2025 and lease liabilities of Q4 FY2025. [Confirmed in Q3 FY2026] Sources: 10-Q 2026-08, 10-K 2025-11, 10-Q 2025-08, 10-Q 2026-02, 10-Q 2026-05, 10-K 2024-11.
- Cash, short-term investments and operating cash flow over the last 4 quarters equalled 0.5 times the sum of debt due within 12 months, capital expenditure and dividends. [Strengthened in Q3 FY2026] Sources: 10-Q 2026-08, 10-K 2025-11, 10-Q 2025-08, 10-Q 2026-02, 10-Q 2026-05.
- Net income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 2.3% of average total assets. [Confirmed in Q3 FY2026] Sources: 10-Q 2025-08, 10-Q 2026-08, 10-K 2025-11, 10-Q 2026-02, 10-Q 2026-05.
- The Altman Z'' score for fiscal 2025 was 1.84, between the distress threshold of 1.10 and the safe threshold of 2.60. [Confirmed in FY2025] Sources: 10-Q 2026-08, 10-K 2025-11.
- The Beneish M-score for fiscal 2025 was minus 2.46, below the model threshold of minus 1.78. [Confirmed in FY2025] Sources: 10-K 2025-11, 10-Q 2026-08.
- The Piotroski F-score for fiscal 2025 was 6 of 9. The 3 signals not met were return on assets higher than a year earlier, current ratio higher than a year earlier and margin higher than a year earlier. [New in FY2025] Sources: 10-K 2024-11, 10-K 2025-11, 10-Q 2026-08.

## Fiscal Years

| Fiscal year | Year end | Item | Value | Exact value | Unit | Source documents |
| --- | --- | --- | --- | --- | --- | --- |
| FY2025 | 2025-11-30 | Revenue | $6.8bn | 6840300000 | USD | 10-K 2025-11 |
| FY2025 | 2025-11-30 | Operating income | $1.1bn | 1070800000 | USD | 10-K 2025-11 |
| FY2025 | 2025-11-30 | Net income attributable to the company | $789m | 789400000 | USD | 10-K 2025-11 |
| FY2024 | 2024-11-30 | Revenue | $6.7bn | 6723700000 | USD | 10-K 2025-11 |
| FY2024 | 2024-11-30 | Operating income | $1.1bn | 1060300000 | USD | 10-K 2025-11 |
| FY2024 | 2024-11-30 | Net income attributable to the company | $788m | 788500000 | USD | 10-K 2025-11 |
| FY2023 | 2023-11-30 | Revenue | $6.7bn | 6662200000 | USD | 10-K 2025-11 |
| FY2023 | 2023-11-30 | Operating income | $963m | 963000000 | USD | 10-K 2025-11 |
| FY2023 | 2023-11-30 | Net income attributable to the company | $681m | 680600000 | USD | 10-K 2025-11 |
| FY2022 | 2022-11-30 | Revenue | $6.4bn | 6350500000 | USD | 10-K 2024-11 |
| FY2022 | 2022-11-30 | Operating income | $864m | 863600000 | USD | 10-K 2024-11 |
| FY2022 | 2022-11-30 | Net income attributable to the company | $682m | 682000000 | USD | 10-K 2024-11 |
| FY2021 | 2021-11-30 | Revenue | $6.3bn | 6317900000 | USD | 10-K 2023-11 |
| FY2021 | 2021-11-30 | Operating income | $1.0bn | 1015100000 | USD | 10-K 2023-11 |
| FY2021 | 2021-11-30 | Net income attributable to the company | $755m | 755300000 | USD | 10-K 2023-11 |

## Source Documents

- 10-Q 2026-08: Form 10-Q, period ended 31 August 2026, 1 Oct 2026 (https://www.sec.gov/Archives/edgar/data/63754/000006375426000329/mkc-20260831.htm)
- 10-K 2025-11: Form 10-K, period ended 30 November 2025, 22 Jan 2026 (https://www.sec.gov/Archives/edgar/data/63754/000006375426000037/mkc-20251130.htm)
- 10-Q 2025-08: Form 10-Q, period ended 31 August 2025, 7 Oct 2025 (https://www.sec.gov/Archives/edgar/data/63754/000006375425000065/mkc-20250831.htm)
- 10-Q 2026-02: Form 10-Q, period ended 28 February 2026, 31 Mar 2026 (https://www.sec.gov/Archives/edgar/data/63754/000006375426000192/mkc-20260228.htm)
- 10-Q 2026-05: Form 10-Q, period ended 31 May 2026, 25 Jun 2026 (https://www.sec.gov/Archives/edgar/data/63754/000006375426000274/mkc-20260531.htm)
- 10-Q 2024-08: Form 10-Q, period ended 31 August 2024, 1 Oct 2024 (https://www.sec.gov/Archives/edgar/data/63754/000006375424000064/mkc-20240831.htm)
- 10-K 2024-11: Form 10-K, period ended 30 November 2024, 23 Jan 2025 (https://www.sec.gov/Archives/edgar/data/63754/000006375425000005/mkc-20241130.htm)
- 10-K 2023-11: Form 10-K, period ended 30 November 2023, 25 Jan 2024 (https://www.sec.gov/Archives/edgar/data/63754/000006375424000027/mkc-20231130.htm)

## Reliability

- 282 checks compare these figures with other official figures; 0 failed.
- 2 values are withheld because the filings do not prove them; a withheld value is absent, never estimated.
- Every earlier snapshot stays published: https://annalist.io/api/v1/companies/mccormick/snapshots.json

## Cite

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## Full Data

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- [Side by side](https://annalist.io/compare/?c=mccormick,campbells,conagra-brands,general-mills)

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Figures come from official filings and are provided as they are, without warranty of accuracy or completeness. They are not investment advice.