McCormick (MKC) FY2024 results: revenue $6.7 billion, up 0.9% on the year
McCormick & Co. Inc. (MKC) reported revenue of $6.7 billion for fiscal 2024, the year ended 30 November 2024, up 0.9% on the year before. Net income was $788 million, up 15.9%, and diluted earnings per share $2.92. The figures are the company's own, from the 10-K it filed with the SEC on 23 January 2025.
Revenue
$6.7 billion
+0.9% on the year
FY2017FY2024
Operating margin
15.8%
14.5% a year earlier
FY2017FY2024
Net income
$788 million
+15.9% on the year
FY2017FY2024
Diluted EPS
$2.92
+15.9% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
922
1,237
652
-25.5%
Capital expenditure
275
264
262
+4.2%
Free cash flow
647
973
390
-33.5%
Free cash flow margin
9.6%
14.6%
6.1%
Cash from investing
-269
-260
-146
Cash from financing
-583
-1,184
-487
Depreciation and amortisation
209
199
201
+4.8%
Share-based compensation
47.4
63.4
60.3
-25.2%
Buybacks
53.1
35.7
38.8
+48.7%
Dividends paid
451
418
397
+7.8%
Dividend per share
$1.71
$1.59
$1.50
+7.5%
Diluted shares, weighted
270m
270m
270m
-0.1%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
5,291
5,061
4,680
+4.6%
Non-controlling interest
25.8
22.8
18.7
+13.2%
Debt
4,342
4,411
5,150
-1.6%
Operating lease liabilities
167
180
176
-7.4%
Finance lease liabilities
94.5
103
110
-8.3%
Other liabilities
3,150
3,084
2,990
+2.1%
Total liabilities and equity
13,070
12,862
13,125
+1.6%
Fixed assets
1,413
1,325
1,198
+6.7%
Goodwill
5,228
5,260
5,213
-0.6%
Intangible assets
3,319
3,357
3,388
-1.1%
Investments
130
115
115
+13.5%
Cash and equivalents
186
167
334
+11.7%
Receivables
587
588
574
-0.0%
Inventory
1,240
1,126
1,340
+10.1%
Other assets
967
925
963
+4.5%
Total assets
13,070
12,862
13,125
+1.6%
10-K for the year ended 30 November 2024, filed 23 January 2025: the filing.