Mccormick & Co. Inc. (MKC) intrinsic value & 10-year financials
Mccormick & Co. Inc. (MKC) has a Graham intrinsic value of $48.13 per share. At $46.35 on Oct 17, 2026, the stock trades 4% below that value. Over the last 10 fiscal years revenue grew 5.0% a year to $6.8B, with an average return on invested capital of 10.9%.
- Graham intrinsic value
- $48.13
- Share price (Oct 17, 2026)
- $46.35
- Price vs Graham value
- 4% below
- Market cap
- $12.5B
- Revenue (FY2025)
- $6.8B
- Revenue growth (10-yr CAGR)
- 5.0%
- ROIC (10-yr avg)
- 10.9%
- Free cash flow (FY2025)
- $740.4M
MKC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $6.8B | $789.4M | $2.93 | $740.4M | 15.7% | 9.2% |
| FY2024 | $6.7B | $788.5M | $2.92 | $647.0M | 15.8% | 9.3% |
| FY2023 | $6.7B | $680.6M | $2.52 | $973.4M | 14.5% | 8.6% |
| FY2022 | $6.4B | $682.0M | $2.52 | $389.5M | 13.6% | 7.9% |
| FY2021 | $6.3B | $755.3M | $2.80 | $550.3M | 16.1% | 9.6% |
| FY2020 | $5.6B | $747.4M | $2.78 | $816.0M | 17.8% | 11.0% |
| FY2019 | $5.3B | $702.7M | $2.62 | $773.1M | 17.9% | 11.0% |
| FY2018 | $5.4B | $933.4M | $3.50 | $652.1M | 16.7% | 12.6% |
| FY2017 | $4.8B | $477.4M | $1.86 | $632.9M | 14.5% | 11.0% |
| FY2016 | $4.4B | $472.3M | $1.84 | $504.3M | 14.5% | 18.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
McCormick & Company has demonstrated mature, steady growth, with revenue compounding at 5.0% annually over the past decade.
McCormick & Company returns on capital have been average, hovering around 10.9% ROIC over the decade.
Over the decade, McCormick & Company shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, McCormick & Company is modeled at 5.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $48.13 per share.