McCormick (MKC) FY2021 results: revenue $6.3 billion, up 12.8% on the year
McCormick & Co. Inc. (MKC) reported revenue of $6.3 billion for fiscal 2021, the year ended 30 November 2021, up 12.8% on the year before. Net income was $755 million, up 1.1%, and diluted earnings per share $2.80. The figures are the company's own, from the 10-K it filed with the SEC on 27 January 2022.
Revenue
$6.3 billion
+12.8% on the year
FY2014FY2021
Operating margin
16.1%
17.8% a year earlier
FY2014FY2021
Net income
$755 million
+1.1% on the year
FY2014FY2021
Diluted EPS
$2.80
+0.7% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
828
1,041
947
-20.5%
Capital expenditure
278
225
174
+23.4%
Free cash flow
550
816
773
-32.6%
Free cash flow margin
8.7%
14.6%
14.5%
Cash from investing
-909
-1,026
-171
Cash from financing
22.0
221
-726
-90.0%
Depreciation and amortisation
186
165
159
+12.9%
Share-based compensation
66.6
46.0
37.2
+44.8%
Buybacks
8.6
47.3
95.1
-81.8%
Dividends paid
363
330
302
+10.1%
Dividend per share
$1.39
$1.27
$1.17
+9.4%
Diluted shares, weighted
270m
269m
268m
+0.3%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
4,411
3,926
3,444
+12.4%
Non-controlling interest
14.5
13.9
12.5
+4.3%
Debt
5,283
4,904
4,324
+7.7%
Operating lease liabilities
106
104
n/a
+2.5%
Finance lease liabilities
118
126
n/a
-5.8%
Other liabilities
2,973
3,016
2,581
-1.4%
Total liabilities and equity
12,906
12,090
10,362
+6.8%
Fixed assets
1,140
1,028
953
+10.9%
Goodwill
5,336
4,986
4,505
+7.0%
Intangible assets
3,452
3,239
2,847
+6.6%
Investments
137
130
124
+5.7%
Cash and equivalents
352
424
155
-17.0%
Receivables
550
528
503
+4.0%
Inventory
1,182
1,033
801
+14.5%
Other assets
756
721
473
+4.9%
Total assets
12,906
12,090
10,362
+6.8%
10-K for the year ended 30 November 2021, filed 27 January 2022: the filing.