McCormick Balance Sheet Health
Financial Health criteria checks 3/6
McCormick has a total shareholder equity of $5.1B and total debt of $4.8B, which brings its debt-to-equity ratio to 95.3%. Its total assets and total liabilities are $13.0B and $7.9B respectively. McCormick's EBIT is $1.0B making its interest coverage ratio 6. It has cash and short-term investments of $154.7M.
Key information
95.3%
Debt to equity ratio
US$4.83b
Debt
| Interest coverage ratio | 6x |
| Cash | US$154.70m |
| Equity | US$5.07b |
| Total liabilities | US$7.92b |
| Total assets | US$12.99b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: MCX's short term assets ($2.1B) do not cover its short term liabilities ($3.2B).
Long Term Liabilities: MCX's short term assets ($2.1B) do not cover its long term liabilities ($4.7B).
Debt to Equity History and Analysis
Debt Level: MCX's net debt to equity ratio (92.3%) is considered high.
Reducing Debt: MCX's debt to equity ratio has reduced from 160.4% to 95.3% over the past 5 years.
Debt Coverage: MCX's debt is well covered by operating cash flow (22%).
Interest Coverage: MCX's interest payments on its debt are well covered by EBIT (6x coverage).
Balance Sheet
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2023/11/18 03:47 |
| End of Day Share Price | 2023/08/21 00:00 |
| Earnings | 2023/08/31 |
| Annual Earnings | 2022/11/30 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .
Analyst Sources
McCormick & Company, Incorporated is covered by 32 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| John Staszak | Argus Research Company |
| Ishan Majumdar | Baptista Research |
| Andrew Lazar | Barclays |