See more : BGIL FILMS & TECHNOLOGIES LTD. (BGIL.BO) Income Statement Analysis – Financial Results
Complete financial analysis of McCormick & Company, Incorporated (MKC) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of McCormick & Company, Incorporated, a leading company in the Packaged Foods industry within the Consumer Defensive sector.
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McCormick & Company, Incorporated (MKC)
About McCormick & Company, Incorporated
McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts. This segment markets its products under the McCormick, French's, Frank's RedHot, Lawry's Cholula Hot Sauce, Gourmet Garden, Club House, and OLD BAY brands in the Americas; Ducros, Schwartz, Kamis, and Drogheria & Alimentari, and Vahiné brands in Europe, the Middle East, and Africa; McCormick and DaQiao brands in China; and McCormick, Aeroplane, and Gourmet Garden brands in Australia, as well as markets regional and ethnic brands, such as Zatarain's, Stubb's, Thai Kitchen, and Simply Asia. It also supplies its products under the private labels. This segment serves retailers comprising grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce retailers directly and indirectly through distributors and wholesale foodservice suppliers. The Flavor Solutions segment offers seasoning blends, spices and herbs, condiments, coating systems, and compound flavors to multinational food manufacturers and foodservice customers. It serves foodservice customers directly and indirectly through distributors. The company was founded in 1889 and is headquartered in Hunt Valley, Maryland.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | 1989 | 1988 | 1987 | 1986 | 1985 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6.66B | 6.35B | 6.32B | 5.60B | 5.35B | 5.30B | 4.83B | 4.41B | 4.30B | 4.24B | 4.12B | 4.01B | 3.70B | 3.34B | 3.19B | 3.18B | 2.92B | 2.72B | 2.59B | 2.53B | 2.27B | 2.32B | 2.37B | 2.12B | 2.01B | 1.88B | 1.80B | 1.73B | 1.86B | 1.69B | 1.56B | 1.47B | 1.43B | 1.32B | 1.25B | 1.18B | 1.08B | 975.70M | 873.00M |
| Cost of Revenue | 4.16B | 4.08B | 3.82B | 3.30B | 3.20B | 3.21B | 2.82B | 2.58B | 2.56B | 2.51B | 2.46B | 2.40B | 2.18B | 1.92B | 1.86B | 1.89B | 1.72B | 1.60B | 1.56B | 1.52B | 1.37B | 1.46B | 1.40B | 1.26B | 1.23B | 1.18B | 1.12B | 1.06B | 1.15B | 1.00B | 902.90M | 843.60M | 846.00M | 801.60M | 771.10M | 1.08B | 677.60M | 605.30M | 536.30M |
| Gross Profit | 2.50B | 2.27B | 2.49B | 2.30B | 2.15B | 2.09B | 2.01B | 1.83B | 1.74B | 1.73B | 1.67B | 1.62B | 1.52B | 1.42B | 1.33B | 1.29B | 1.19B | 1.11B | 1.04B | 1.01B | 898.60M | 856.60M | 972.30M | 866.10M | 774.60M | 703.70M | 678.00M | 668.30M | 710.90M | 690.70M | 653.70M | 627.80M | 581.90M | 521.40M | 475.00M | 105.80M | 400.90M | 370.40M | 336.70M |
| Gross Profit Ratio | 37.56% | 35.82% | 39.48% | 41.07% | 40.12% | 39.40% | 41.58% | 41.52% | 40.44% | 40.78% | 40.40% | 40.30% | 41.18% | 42.49% | 41.58% | 40.55% | 40.87% | 41.03% | 39.99% | 39.90% | 39.59% | 36.92% | 40.97% | 40.79% | 38.60% | 37.41% | 37.65% | 38.57% | 38.25% | 40.75% | 42.00% | 42.67% | 40.75% | 39.41% | 38.12% | 8.94% | 37.17% | 37.96% | 38.57% |
| Research & Development | 94.90M | 87.50M | 87.30M | 68.60M | 67.30M | 69.40M | 66.10M | 61.00M | 60.80M | 62.00M | 61.30M | 57.80M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 1.13B | 1.12B | 1.17B | 1.28B | 1.17B | 1.43B | 1.24B | 1.18B | 1.13B | 1.12B | 1.09B | 1.04B | 982.20M | 907.90M | 846.60M | 870.60M | 806.90M | 772.60M | 681.90M | 677.70M | 597.60M | 570.90M | 719.90M | 578.70M | 522.30M | 463.80M | 461.00M | 453.10M | 446.10M | 429.50M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | 247.10M | 240.40M | 237.80M | 230.30M | 214.60M | -270.30M | 172.50M | 343.40M | 336.40M | 326.90M | 304.70M | 293.10M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 1.38B | 1.36B | 1.40B | 1.28B | 1.17B | 1.16B | 1.24B | 1.18B | 1.13B | 1.12B | 1.09B | 1.04B | 982.20M | 907.90M | 846.60M | 870.60M | 806.90M | 772.60M | 681.90M | 677.70M | 597.60M | 570.90M | 719.90M | 578.70M | 522.30M | 463.80M | 461.00M | 453.10M | 446.10M | 429.50M | 422.70M | 416.80M | 395.80M | 357.70M | 338.20M | 0.00 | 305.20M | 271.40M | 247.90M |
| Other Expenses | 61.20M | 30.90M | 8.00M | 10.70M | 5.90M | 8.50M | -18.70M | -11.50M | -60.40M | -4.10M | -22.80M | 2.40M | 0.00 | 0.00 | 0.00 | 29.00M | 0.00 | 0.00 | 11.20M | -2.50M | 5.50M | 8.00M | 10.80M | 61.30M | 57.40M | 54.80M | 49.30M | 63.80M | 63.70M | 62.50M | 50.50M | 43.80M | 40.50M | 36.60M | 34.80M | 27.50M | 32.60M | 32.10M | 28.20M |
| Operating Expenses | 1.54B | 1.36B | 1.40B | 1.28B | 1.17B | 1.16B | 1.24B | 1.18B | 1.13B | 1.12B | 1.09B | 1.04B | 982.20M | 907.90M | 846.60M | 899.60M | 806.90M | 772.60M | 693.10M | 675.20M | 603.10M | 578.90M | 730.70M | 640.00M | 579.70M | 518.60M | 510.30M | 516.90M | 509.80M | 492.00M | 473.20M | 460.60M | 436.30M | 394.30M | 373.00M | 27.50M | 337.80M | 303.50M | 276.10M |
| Cost & Expenses | 5.70B | 5.43B | 5.23B | 4.58B | 4.37B | 4.37B | 4.07B | 3.75B | 3.69B | 3.64B | 3.55B | 3.44B | 3.16B | 2.83B | 2.71B | 2.79B | 2.53B | 2.37B | 2.25B | 2.19B | 1.97B | 2.04B | 2.13B | 1.90B | 1.81B | 1.70B | 1.63B | 1.58B | 1.66B | 1.50B | 1.38B | 1.30B | 1.28B | 1.20B | 1.14B | 1.11B | 1.02B | 908.80M | 812.40M |
| Interest Income | 36.60M | 17.80M | 9.30M | 7.80M | 155.10M | 7.10M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | 208.20M | 149.10M | 136.60M | 135.60M | 165.20M | 174.60M | 90.00M | 56.00M | 53.30M | 49.70M | 53.30M | 54.60M | 51.20M | 49.30M | 52.80M | 56.70M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation & Amortization | 199.30M | 200.60M | 186.30M | 165.00M | 158.80M | 150.70M | 125.20M | 108.70M | 105.90M | 102.70M | 106.00M | 102.80M | 98.30M | 95.10M | 94.30M | 85.60M | 82.60M | 86.80M | 74.60M | 72.00M | 65.30M | 66.80M | 73.00M | 61.30M | 57.40M | 54.80M | 49.30M | 63.80M | 63.70M | 62.50M | 50.50M | 43.80M | 40.50M | 36.60M | 34.80M | 27.50M | 32.60M | 32.10M | 28.20M |
| EBITDA | 1.21B | 1.19B | 1.23B | 1.19B | 1.14B | 1.07B | 816.20M | 755.20M | 660.30M | 711.60M | 662.40M | 686.80M | 644.40M | 610.60M | 566.30M | 480.10M | 444.50M | 363.50M | 418.10M | 404.70M | 360.80M | 315.80M | 280.30M | 286.30M | 252.30M | 239.90M | 217.00M | 215.20M | 264.80M | 261.20M | 231.00M | 211.00M | 186.10M | 163.70M | 136.80M | 105.80M | 95.70M | 99.00M | 88.80M |
| EBITDA Ratio | 18.11% | 18.37% | 20.48% | 21.33% | 21.38% | 17.70% | 17.72% | 17.09% | 15.25% | 16.66% | 15.97% | 17.03% | 17.27% | 15.28% | 18.01% | 15.66% | 16.81% | 17.20% | 15.75% | 15.26% | 14.84% | 14.20% | 12.69% | 12.70% | 12.53% | 12.19% | 11.00% | 15.32% | 14.06% | 19.72% | 14.15% | 14.20% | 12.64% | 11.60% | 9.94% | 8.08% | 7.32% | 9.80% | 9.60% |
| Operating Income | 963.00M | 863.60M | 1.02B | 999.50M | 957.70M | 891.10M | 702.40M | 641.00M | 548.40M | 603.00M | 550.50M | 578.30M | 540.30M | 509.80M | 466.90M | 376.50M | 354.20M | 269.60M | 343.50M | 332.70M | 295.50M | 277.70M | 240.60M | 226.10M | 194.90M | 185.10M | 167.70M | 151.40M | 201.10M | 198.70M | 180.50M | 167.20M | 145.60M | 127.10M | 102.00M | 78.30M | 63.10M | 66.90M | 60.60M |
| Operating Income Ratio | 14.45% | 13.60% | 16.07% | 17.84% | 17.91% | 16.80% | 14.53% | 14.53% | 12.76% | 14.21% | 13.35% | 14.41% | 14.61% | 15.28% | 14.63% | 11.85% | 12.15% | 9.92% | 13.25% | 13.17% | 13.02% | 11.97% | 10.14% | 10.65% | 9.71% | 9.84% | 9.31% | 8.74% | 10.82% | 11.72% | 11.60% | 11.36% | 10.20% | 9.61% | 8.19% | 6.61% | 5.85% | 6.86% | 6.94% |
| Total Other Income/Expenses | -164.30M | -50.80M | -119.30M | -118.00M | -138.50M | -149.80M | -105.00M | -51.80M | -52.20M | -48.60M | -51.10M | -52.20M | -48.90M | -47.10M | -61.30M | -38.70M | -74.10M | -131.19M | -47.80M | -38.90M | -25.50M | -38.50M | -44.60M | -20.90M | -31.50M | -26.40M | -17.60M | -84.00M | -51.90M | -111.70M | -20.30M | -28.90M | -21.90M | -19.10M | -20.00M | -19.90M | -14.20M | -15.70M | -14.70M |
| Income Before Tax | 798.70M | 812.80M | 895.80M | 881.50M | 819.20M | 741.30M | 594.80M | 589.20M | 496.20M | 554.40M | 499.40M | 526.10M | 491.40M | 462.70M | 416.50M | 337.80M | 302.40M | 223.00M | 295.70M | 293.80M | 270.00M | 234.80M | 190.40M | 204.10M | 163.40M | 158.70M | 150.10M | 67.40M | 149.20M | 87.00M | 160.20M | 138.30M | 123.70M | 108.00M | 82.00M | 58.40M | 48.90M | 51.20M | 45.90M |
| Income Before Tax Ratio | 11.99% | 12.80% | 14.18% | 15.74% | 15.32% | 13.98% | 12.30% | 13.36% | 11.55% | 13.07% | 12.11% | 13.11% | 13.29% | 13.87% | 13.05% | 10.63% | 10.37% | 8.21% | 11.41% | 11.63% | 11.90% | 10.12% | 8.02% | 9.61% | 8.14% | 8.44% | 8.33% | 3.89% | 8.03% | 5.13% | 10.29% | 9.40% | 8.66% | 8.16% | 6.58% | 4.93% | 4.53% | 5.25% | 5.26% |
| Income Tax Expense | 174.50M | 168.60M | 192.70M | 174.90M | 157.40M | -157.30M | 151.30M | 153.00M | 131.30M | 145.90M | 133.60M | 139.80M | 142.60M | 118.00M | 133.00M | 100.60M | 92.20M | 64.70M | 96.70M | 89.00M | 83.40M | 74.30M | 62.90M | 66.60M | 60.10M | 54.90M | 52.70M | 23.90M | 53.70M | 33.80M | 60.50M | 53.00M | 42.80M | 38.60M | 29.50M | 22.80M | 18.30M | 21.50M | 18.10M |
| Net Income | 680.60M | 682.00M | 755.30M | 747.40M | 702.70M | 933.40M | 477.40M | 472.30M | 401.60M | 437.90M | 389.00M | 407.80M | 374.20M | 370.20M | 299.80M | 255.80M | 230.10M | 202.20M | 214.90M | 214.50M | 210.80M | 179.80M | 146.60M | 137.50M | 103.30M | 103.80M | 98.40M | 41.90M | 97.60M | 61.10M | 73.10M | 95.20M | 80.90M | 69.40M | 52.50M | 36.30M | 30.60M | 29.70M | 27.80M |
| Net Income Ratio | 10.22% | 10.74% | 11.95% | 13.34% | 13.14% | 17.60% | 9.88% | 10.71% | 9.35% | 10.32% | 9.43% | 10.16% | 10.12% | 11.09% | 9.39% | 8.05% | 7.89% | 7.44% | 8.29% | 8.49% | 9.29% | 7.75% | 6.18% | 6.48% | 5.15% | 5.52% | 5.46% | 2.42% | 5.25% | 3.61% | 4.70% | 6.47% | 5.67% | 5.25% | 4.21% | 3.07% | 2.84% | 3.04% | 3.18% |
| EPS | 2.54 | 2.54 | 2.83 | 2.80 | 2.65 | 3.55 | 1.88 | 1.87 | 1.57 | 1.69 | 1.47 | 1.54 | 1.41 | 1.39 | 1.15 | 0.99 | 0.89 | 0.77 | 0.80 | 0.78 | 0.76 | 0.64 | 0.53 | 0.50 | 0.36 | 0.36 | 0.39 | 0.13 | 0.30 | 0.19 | 0.23 | 0.30 | 0.25 | 0.22 | 0.16 | 0.10 | 0.08 | 0.08 | 0.07 |
| EPS Diluted | 2.52 | 2.52 | 2.80 | 2.78 | 2.62 | 3.50 | 1.86 | 1.84 | 1.55 | 1.67 | 1.46 | 1.52 | 1.39 | 1.37 | 1.13 | 0.97 | 0.86 | 0.75 | 0.78 | 0.76 | 0.74 | 0.63 | 0.52 | 0.49 | 0.36 | 0.35 | 0.39 | 0.13 | 0.30 | 0.19 | 0.23 | 0.30 | 0.25 | 0.22 | 0.16 | 0.10 | 0.08 | 0.08 | 0.07 |
| Weighted Avg Shares Out | 268.40M | 268.20M | 267.30M | 266.50M | 265.20M | 263.10M | 253.60M | 253.20M | 256.00M | 259.80M | 264.20M | 265.40M | 265.40M | 265.80M | 261.60M | 258.00M | 258.54M | 264.31M | 268.63M | 273.25M | 279.21M | 278.76M | 275.70M | 275.00M | 284.97M | 292.39M | 255.37M | 312.82M | 324.72M | 324.82M | 324.00M | 321.23M | 318.73M | 319.46M | 331.66M | 360.45M | 373.34M | 385.92M | 392.00M |
| Weighted Avg Shares Out (Dil) | 269.80M | 270.20M | 269.90M | 269.10M | 268.20M | 266.50M | 256.80M | 256.00M | 258.40M | 262.00M | 267.20M | 268.60M | 268.60M | 269.40M | 264.60M | 263.60M | 266.01M | 269.60M | 275.51M | 282.24M | 284.86M | 285.40M | 280.11M | 277.78M | 288.95M | 294.47M | 255.37M | 312.82M | 324.72M | 324.82M | 324.00M | 321.23M | 318.73M | 319.46M | 331.66M | 360.45M | 373.34M | 385.92M | 392.00M |
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