📈 Price History

Ratio Health

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By Category

Shareholding

About

McCormick & Company, Incorporated manufactures, markets, and distributes herbs, spices, seasoning mixes, condiments, and other flavorful products to the food industry.

Key Ratios Snapshot

📊 Sector Averages

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding MKC

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	193.9K	$9.8M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Mixed → Stable 4 quarters analysed

Q2 2025

Mixed

'continue to demonstrate success', and 'confident in achieving our near and long-term objectives'. They provide specific figures (2% organic sales growth, 4% constant currency operating profit growth in H1) and detailed mitigation plans for tariffs, showing confidence backed by data.

Q3 2025

Mixed

' but also revised profitability outlook to the low end and acknowledged 'rising costs' and a 'challenging' consumer environment.

Q4 2025

Mixed

but repeatedly cautions about rising costs, tariff impacts, and consumer uncertainty. Specific phrases like 'we delivered differentiated volume-led organic growth' show confidence, while 'we anticipate some volume impact from price elasticity' and 'incremental costs' reflect cautious realism.

Q1 2026 latest

Mixed

'strength plus strength', 'clear, tangible, and many growth levers', 'meaningfully accretive', 'compelling'. They quantified synergies ($600M), margins (21% to 23-25%), and ownership percentages (65/35) without hedging.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis for McCormick appears stronger after this call, given the transformational scale and synergy potential that could drive margin expansion and sustained growth. However, the massive execution risk and the near-complete pivot away from Q1 2026 results raise caution. The deal is structured to be accretive quickly, and the 13.8x multiple is at parity, implying no immediate dilution. But the long timeline to close and integration complexity are new watch items. Next quarter, investors should look for any updates on regulatory approvals, the standalone Q1 2026 detailed numbers that were barely mentioned, and early integration milestones.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Mixed → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED McCormick combines with Unilever Foods to form global flavor leader with $20B pro forma sales.

Revenue & Profitability

For the first quarter of fiscal 2026, McCormick delivered strong growth in sales, adjusted operating income, and adjusted earnings per share, supported by the McCormick de México acquisition and organic growth across both Consumer and Flavor Solutions. Pro forma 2025 annual net sales are $20 billion with a best-in-class operating margin of 21%. The transaction implies an enterprise value of approximately $44.8 billion for Unilever Foods and $21 billion for McCormick, at a multiple of 13.8x calendar year 2025 EBITDA.

Outlook

Management believes flavor is a structurally advantaged category aligned with enduring consumer trends toward more flavorful, convenient, and health-conscious eating. Tailwinds include increased cooking at home, adding more protein and produce, and younger consumers (especially Gen Z) driving these trends. The combined company expects sustainable organic sales growth of 3%-5% by year three, supported by reinvestment in brands and an enhanced innovation engine.

Growth Drivers

Key growth levers include expanding distribution of the complementary portfolio across markets, scaling high-growth potential brands (e.g., Cholula, Frank's RedHot, Maille) into new geographies and channels, leveraging a scaled dual-engine foodservice platform for cross-selling, and accelerating innovation by combining R&D capabilities. The combination is expected to enhance growth in North America, Latin America, EMEA, and Asia Pacific, with particular opportunities in emerging markets and in foodservice.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

The combined company expects to expand its operating margin from a pro forma 2025 level of 21% to approximately 23%-25% by year three, driven by cost synergies from procurement, media, manufacturing, logistics, and SG&A, as well as structural efficiencies and operating leverage. The margin profile is supported by a strong gross margin in the mid-to-high 40% range for Unilever Foods and McCormick's own disciplined cost management through its Comprehensive Continuous Improvement (CCI) program.

Key Risks

Management acknowledged the need to execute a complex integration, with an emphasis on disciplined planning and governance. The transaction is subject to regulatory filings and a shareholder vote. Leverage is expected to be at or below 4x at closing, and deleveraging to 3x within two years is a priority. The broader macroeconomic environment, including geopolitical dynamics such as the Middle East conflict, was mentioned as a near-term pressure, but management emphasized a long-term focus.

Generated by AI · Q1 2026 results · Not investment advice

📊 Analysis Methodology

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