McCormick Balance Sheet Health
Financial Health criteria checks 2/6
McCormick has a total shareholder equity of $4.9B and total debt of $5.2B, which brings its debt-to-equity ratio to 106.5%. Its total assets and total liabilities are $13.2B and $8.3B respectively. McCormick's EBIT is $926.8M making its interest coverage ratio 6.2. It has cash and short-term investments of $356.8M.
Key information
106.5%
Debt to equity ratio
US$5.21b
Debt
| Interest coverage ratio | 6.2x |
| Cash | US$356.80m |
| Equity | US$4.89b |
| Total liabilities | US$8.32b |
| Total assets | US$13.21b |
Recent financial health updates
No updates
Recent updates
Financial Position Analysis
Short Term Liabilities: MKCV *'s short term assets ($2.4B) do not cover its short term liabilities ($3.3B).
Long Term Liabilities: MKCV *'s short term assets ($2.4B) do not cover its long term liabilities ($5.0B).
Debt to Equity History and Analysis
Debt Level: MKCV *'s net debt to equity ratio (99.2%) is considered high.
Reducing Debt: MKCV *'s debt to equity ratio has reduced from 167.3% to 106.5% over the past 5 years.
Debt Coverage: MKCV *'s debt is not well covered by operating cash flow (14.2%).
Interest Coverage: MKCV *'s interest payments on its debt are well covered by EBIT (6.2x coverage).
Balance Sheet
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2023/06/13 02:53 |
| End of Day Share Price | 2023/03/16 00:00 |
| Earnings | 2023/02/28 |
| 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. 13 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 |