McCormick & (MKC) 10-K Summary — Year Ended Nov 30, 2025
McCormick is a global leader in flavor, supplying herbs, spices, and seasonings to retailers, food manufacturers, and foodservice businesses. Its recent financial performance reflects growth in revenue and profitability.
Key takeaway
Year ended Nov 30, 2025 · FY2025 10-K
McCormick is a global leader in flavor, supplying herbs, spices, and seasonings to retailers, food manufacturers, and foodservice businesses. Its recent financial performance reflects growth in revenue and profitability.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$6.8B
Revenue reported for the fiscal year.
Operating income
$1.1B
Income from operations reported for the year.
Net income
$789.4M
Net income reported for the year.
Operating cash flow
$962.2M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Nov 30, 2022 | $6.4B | +0.5% |
| Nov 30, 2023 | $6.7B | +4.9% |
| Nov 30, 2024 | $6.7B | +0.9% |
| Nov 30, 2025 | $6.8B | +1.7% |
Business overview
The company operates through Consumer and Flavor Solutions segments, serving all eating occasions. It holds a controlling interest in McCormick de Mexico, a prominent Mexican food company, and has production facilities across North America, Europe, China, and other regions. The recent acquisition of an additional stake in the Mexican joint venture aims to expand its presence in Latin America.
Financial performance
Revenue has shown consistent growth over recent periods, supported by strong demand for flavor products. Operating income and net income remained solid, while cash flow from operations was robust. The company continues to invest in brand building and customer engagement across both segments.
Material risks
The filing highlights intense competition in global markets, which could pressure margins. It also notes extensive governmental regulations regarding food safety, labeling, and trade, which may affect operations. These factors are identified as material risks to the business.
Liquidity and capital
The company allocated capital to increase its ownership in McCormick de Mexico, enhancing its platform for growth in Mexico and Latin America. Operating cash flow provides a solid foundation for such investments and ongoing operations.
What to watch
Investors should monitor the integration and performance of the expanded McCormick de Mexico joint venture in future filings.