Company Valuation: McCormick & Company, Incorporated

Data adjusted to current consolidation scope
Fiscal Period: November 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 22,956 22,825 17,390 21,027 18,107 14,869 - -
Change - -0.57% -23.81% 20.91% -13.89% -17.89% - -
Enterprise Value (EV) 1 27,887 27,641 21,635 25,183 22,008 19,361 18,998 18,646
Change - -0.88% -21.73% 16.4% -12.61% -12.02% -1.87% -1.86%
P/E 30.7x 33.8x 25.7x 26.9x 23x 9.14x 16.8x 15.3x
PBR 5.2x 4.88x 3.44x 3.98x 3.16x 2.04x 1.96x 1.85x
PEG - -3.38x - 1.7x 67.16x 0x -0.4x 1.64x
Capitalization / Revenue 3.63x 3.59x 2.61x 3.13x 2.65x 1.88x 1.82x 1.75x
EV / Revenue 4.41x 4.35x 3.25x 3.75x 3.22x 2.45x 2.32x 2.2x
EV / EBITDA 21.7x 24.7x 17.7x 19.7x 16.6x 12.5x 11.5x 10.7x
EV / EBIT 25.3x 30.1x 21.1x 23.5x 20.1x 14.9x 13.8x 12.7x
EV / FCF 50.7x 71x 22.2x 38.9x 29.7x 20.4x 19x 17.4x
FCF Yield 1.97% 1.41% 4.5% 2.57% 3.36% 4.89% 5.25% 5.76%
Dividend per Share 2 1.36 1.48 1.56 1.68 1.8 1.93 2.052 2.174
Rate of return 1.58% 1.74% 2.41% 2.14% 2.67% 3.49% 3.71% 3.93%
EPS 2 2.8 2.52 2.52 2.92 2.93 6.051 3.3 3.608
Distribution rate 48.6% 58.7% 61.9% 57.5% 61.4% 31.9% 62.2% 60.3%
Net sales 1 6,318 6,350 6,662 6,724 6,840 7,896 8,176 8,473
EBITDA 1 1,288 1,118 1,224 1,279 1,325 1,551 1,646 1,750
EBIT 1 1,102 917.4 1,024 1,070 1,094 1,297 1,379 1,469
Net income 1 755.3 682 680.6 788.5 789.4 1,618 884.2 959
Net Debt 1 4,931 4,816 4,245 4,156 3,900 4,493 4,130 3,777
Reference price 2 85.82 85.18 64.83 78.41 67.48 55.33 55.33 55.33
Nbr of stocks (in thousands) 267,318 268,207 268,332 268,357 268,376 268,852 - -
Announcement Date 1/27/22 1/26/23 1/25/24 1/23/25 1/22/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
9.14x2.45x12.48x3.49% 14.87B
20.42x2.82x14.07x3.99% 250B
19.85x2.49x14.87x3.3% 79.59B
17.11x1.78x10.06x3.65% 48.08B
15.1x0.54x9.86x2.56% 39.3B
21.68x3.28x13.32x3.23% 35.98B
37.27x3.22x18.55x0.98% 32.41B
-109.41x1.93x9.58x6.23% 30.48B
67.44x10.35x42.93x1.13% 29.37B
Average 10.96x 3.21x 16.19x 3.17% 62.26B
Weighted average by Cap. 15.84x 2.91x 14.98x 3.5%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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