McCormick & Company, Incorporated stock research
FY2026 Q1
McCormick & (MKC) Gross Margin — Quarter Ended Feb 28, 2026
Gross profit is revenue minus cost of revenue, and gross margin is the ratio of gross profit to revenue. In the current quarter, revenue was stable compared with the previous quarter, but cost of revenue increased, causing gross profit and gross margin to decline; versus the same quarter one year earlier, revenue and cost of revenue both increased, while gross profit and gross margin improved.
Gross margin takeaway
Quarter ended Feb 28, 2026 · FY2026 Q1
Gross profit is revenue minus cost of revenue, and gross margin is the ratio of gross profit to revenue. In the current quarter, revenue was stable compared with the previous quarter, but cost of revenue increased, causing gross profit and gross margin to decline; versus the same quarter one year earlier, revenue and cost of revenue both increased, while gross profit and gross margin improved.
- Cost of revenue was higher than the previous quarter while revenue was unchanged, which directly reduced gross margin.
- Compared with the previous quarter, gross margin weakened; compared with the same quarter one year earlier, gross margin improved slightly.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
37.8%
Gross profit
$708.9M
Revenue
$1.9B
Cost of revenue
$1.2B
Quarter-over-quarter change
-1.1 pts
Year-over-year change
+0.2 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| May 31, 2025 | $1.7B | $622.8M | $1.0B | 37.5% |
| Aug 31, 2025 | $1.7B | $645.1M | $1.1B | 37.4% |
| Nov 30, 2025 | $1.9B | $720.3M | $1.1B | 38.9% |
| Feb 28, 2026 | $1.9B | $708.9M | $1.2B | 37.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Nov 30, 2025
-1.1 pts
Year-over-year change
Feb 28, 2025
+0.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Cost of revenue was higher than the previous quarter while revenue was unchanged, which directly reduced gross margin.
Compared with the previous quarter, gross margin weakened; compared with the same quarter one year earlier, gross margin improved slightly.
Monitor the trend of cost of revenue relative to revenue, as its increase from the prior quarter was the primary observable factor behind the margin decline.