McCormick Balance Sheet Health
Financial Health criteria checks 3/6
McCormick has a total shareholder equity of $5.3B and total debt of $4.5B, which brings its debt-to-equity ratio to 85.8%. Its total assets and total liabilities are $12.9B and $7.6B respectively. McCormick's EBIT is $1.0B making its interest coverage ratio 6.1. It has cash and short-term investments of $178.0M.
Key information
85.8%
Debt to equity ratio
US$4.51b
Debt
Interest coverage ratio | 6.1x |
Cash | US$178.00m |
Equity | US$5.26b |
Total liabilities | US$7.63b |
Total assets | US$12.89b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: MKC's short term assets ($2.0B) do not cover its short term liabilities ($3.0B).
Long Term Liabilities: MKC's short term assets ($2.0B) do not cover its long term liabilities ($4.7B).
Debt to Equity History and Analysis
Debt Level: MKC's net debt to equity ratio (82.4%) is considered high.
Reducing Debt: MKC's debt to equity ratio has reduced from 141.7% to 85.8% over the past 5 years.
Debt Coverage: MKC's debt is well covered by operating cash flow (28.2%).
Interest Coverage: MKC's interest payments on its debt are well covered by EBIT (6.1x coverage).