McCormick (MKC) FY2022 results: revenue $6.4 billion, up 0.5% on the year
McCormick & Co. Inc. (MKC) reported revenue of $6.4 billion for fiscal 2022, the year ended 30 November 2022, up 0.5% on the year before. Net income was $682 million, down 9.7%, and diluted earnings per share $2.52. The figures are the company's own, from the 10-K it filed with the SEC on 26 January 2023.
Revenue
$6.4 billion
+0.5% on the year
FY2015FY2022
Operating margin
13.6%
16.1% a year earlier
FY2015FY2022
Net income
$682 million
-9.7% on the year
FY2015FY2022
Diluted EPS
$2.52
-10.0% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
652
828
1,041
-21.3%
Capital expenditure
262
278
225
-5.8%
Free cash flow
390
550
816
-29.2%
Free cash flow margin
6.1%
8.7%
14.6%
Cash from investing
-146
-909
-1,026
Cash from financing
-487
22.0
221
Depreciation and amortisation
201
186
165
+7.7%
Share-based compensation
60.3
66.6
46.0
-9.5%
Buybacks
38.8
8.6
47.3
+351.2%
Dividends paid
397
363
330
+9.2%
Dividend per share
$1.50
$1.39
$1.27
+7.9%
Diluted shares, weighted
270m
270m
269m
+0.1%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
4,680
4,411
3,926
+6.1%
Non-controlling interest
18.7
14.5
13.9
+29.0%
Debt
5,150
5,283
4,904
-2.5%
Operating lease liabilities
176
106
104
+66.0%
Finance lease liabilities
110
118
126
-6.5%
Other liabilities
2,990
2,973
3,016
+0.5%
Total liabilities and equity
13,125
12,906
12,090
+1.7%
Fixed assets
1,198
1,140
1,028
+5.1%
Goodwill
5,213
5,336
4,986
-2.3%
Intangible assets
3,388
3,452
3,239
-1.9%
Investments
115
137
130
-16.2%
Cash and equivalents
334
352
424
-5.0%
Receivables
574
550
528
+4.4%
Inventory
1,340
1,182
1,033
+13.3%
Other assets
963
756
721
+27.3%
Total assets
13,125
12,906
12,090
+1.7%
10-K for the year ended 30 November 2022, filed 26 January 2023: the filing.