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McCormick (MKC) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Oct 1, 2026 · McCormick (MKC) Q3 FY26 earnings results →

Q3 FY26 Revenue up 17% year over year to $2.0B · 5¢ of every $1 of revenue kept as net profit · operating margin 10.7%

McCormick made $2.0B in Q3 FY26 (+17% Y/Y). Operating margin 10.7%, net earnings $97.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 1, 2026.

Revenue$2.0B
Year over year+17%
Operating margin10.7%
Net earnings$97.6M
Operating cash flow$168M

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McCormick Q3 FY26 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
McCormick Q3 FY26 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $2.0B in Q3 FY26, up 17% year over year and up 5% from the previous quarter.

Gross margin was 39.3%, up 1.9 points from Q3 FY25. Operating profit was $0.22B, a 10.7% margin (down 6.0 points year over year). Operating profit fell $0.07B even though revenue rose $0.30B versus Q3 FY25, so costs grew faster than sales. Operating expenses grew 62% against revenue growth of 17%. The fastest-growing cost line was Other operating costs (+3528%). Net earnings were $0.10B, down 57% year over year. The effective tax rate was 31.7%.

Operating cash flow was $0.17B (down 35% year over year), 156% of net income including minority interests. Non-cash charges added back $0.08B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.02B. Capital expenditures of $0.06B left free cash flow of $0.11B.

Quarterly history

McCormick revenue by quarterMcCormick revenue by quarter$1.8BQ4 FY24$1.7BQ2 FY25$1.7BQ3 FY25$1.9BQ4 FY25$1.9BQ1 FY26$1.9BQ2 FY26$2.0BQ3 FY26
McCormick net earnings by quarterMcCormick net earnings by quarter$215MQ4 FY24$175MQ2 FY25$226MQ3 FY25$227MQ4 FY25$1.0BQ1 FY26$150MQ2 FY26$97.6MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QOct 1, 2026$2.0B+17%10.7%$97.6M$168M
Q2 FY2610-QJun 25, 2026$1.9B+17%14.3%$150M$380M
Q1 FY2610-QMar 31, 2026$1.9B+17%12.1%$1.0B$50.9M
Q4 FY2510-KJan 22, 2026$1.9B+3%16.8%$227M$542M
Q3 FY2510-QOct 7, 2025$1.7B+3%16.7%$226M$259M
Q2 FY2510-QJun 26, 2025$1.7B+1%14.8%$175M$45.9M
Q4 FY2410-KJan 23, 2025$1.8B+3%17.0%$215M$459M

Charts

McCormick: revenue growth, year over year and quarter over quarterMcCormick: revenue growth, year over year and quarter over quarterY/YQ/Q+3%Q4 FY24+1%-8%Q2 FY25+3%+4%Q3 FY25+3%+7%Q4 FY25+17%+1%Q1 FY26+17%+3%Q2 FY26+17%+5%Q3 FY26
Latest (Q3 FY26): Y/Y +17%, Q/Q +5%.
McCormick: where the cash came from (+) and went (−), TTM to Q3 FY26McCormick: where the cash came from (+) and went (−), TTM to Q3 FY26Operating cash flow$1.1BAcquisitions−$730MNet borrowing (+) / repaid (−)$584MDividends−$508MCash drawn (+) / kept (−)−$236MOther investing−$214MOther financing−$49.7MShares issued$29.7MBuybacks−$16.5MTaxes on employees’ shares−$11.9MExchange rates$11.8M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
McCormick: profit against cash, quarter by quarterMcCormick: profit against cash, quarter by quarterNet incomeOperating cash flow$215M$459MQ4 FY24$162M$116MQ1 FY25$175M$45.9MQ2 FY25$226M$259MQ3 FY25$227M$542MQ4 FY25$1.0B$50.9MQ1 FY26$150M$380MQ2 FY26$97.6M$168MQ3 FY26
Latest (Q3 FY26): Net income $97.6M, Operating cash flow $168M.
McCormick: diluted shares by fiscal yearMcCormick: diluted shares by fiscal year269MFY20270MFY21270MFY22270MFY23270MFY24269MFY25
+0.1% since FY20: more shares outstanding (issuance, stock pay).
McCormick: long-term debt falling due (FY25)McCormick: long-term debt falling due (FY25)$760M2027$10.4M2028$20.7M2029$512M2030$1.8BLater
Cash $95.9M, short-term investments —, long-term debt $3.6B at 2025-11-30.
McCormick in its industry: growth against margin (4 companies, SIC 2090)McCormick in its industry: growth against margin (4 companies, SIC 2090)revenue growth, year over year →↑ operating marginmedian -2%median 11%UTZMEDJVAMKC (+17%, 11%)
Miscellaneous Food Preparations & Kindred Products; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

About McCormick

McCormick is a global leader in flavor. We manufacture, market, and distribute spices, seasoning mixes, condiments, and other flavorful products to the entire food industry: retailers, food manufacturers, and foodservice businesses. We also are partners in a number of joint ventures that are involved in the manufacture and sale of flavorful products, the most significant of which is McCormick de Mexico. Our major sales, distribution, and production facilities are located in North America, Europe, and China. Additional facilities are based in Australia, Central America, Thailand, and South Africa.

In its own words, from its annual report, filed Jan 23, 2025.

McCormick against its Miscellaneous Food Preparations & Kindred Products peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +17% against the peers' median -2%. Operating margin: 10.7% against the peers' median 10.7%.

CompanyQuarterRevenueY/YOp. margin
MKC McCormickQ3 FY26$2.0B+17%10.7%
UTZ Utz BrandsQ3 2026$369M-2%-5.9%
MED MedifastQ3 2026$72.0M-19%-26.9%
JVA Coffee HoldingQ3 FY26$21.7M-9%10.7%

Source: McCormick 10-Q on SEC EDGAR · CIK 63754 · Miscellaneous Food Preparations & Kindred Products

13F: who owns MKC and who is buying

Largest holders of MKC (13F)Largest holders of MKC (13F)Vanguard Group$2.2BBlackRock$1.1BVanguard Capital Management LLC$837MState Farm Mutual Automobile Insu…$833MState Street$773MVanguard Portfolio Management LLC$698MAristotle Capital Management, LLC$574MSanders Capital, LLC$376MBoston Partners$365MGeode Capital Management, LLC$342M
Funds' net buying of MKC by quarter (13F)Funds' net buying of MKC by quarter (13F)−$755M2024-09−$2.9M2024-12$536M2025-03−$340M2025-06$532M2025-09$688M2025-12−$307M2026-03$481M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on MKC

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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