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 12,042 - -
Change - -0.57% -23.81% 20.91% -13.89% -33.5% - -
Enterprise Value (EV) 1 27,887 27,641 21,635 25,183 22,008 16,593 16,200 15,844
Change - -0.88% -21.73% 16.4% -12.61% -24.6% -2.37% -2.2%
P/E 30.7x 33.8x 25.7x 26.9x 23x 8.24x 14x 12.8x
PBR 5.2x 4.88x 3.44x 3.98x 3.16x 1.68x 1.61x 1.52x
PEG - -3.38x - 1.7x 67.16x 0.1x -0.3x 1.47x
Capitalization / Revenue 3.63x 3.59x 2.61x 3.13x 2.65x 1.52x 1.48x 1.43x
EV / Revenue 4.41x 4.35x 3.25x 3.75x 3.22x 2.09x 1.99x 1.88x
EV / EBITDA 21.7x 24.7x 17.7x 19.7x 16.6x 10.6x 9.92x 9.13x
EV / EBIT 25.3x 30.1x 21.1x 23.5x 20.1x 12.8x 11.9x 10.9x
EV / FCF 50.7x 71x 22.2x 38.9x 29.7x 18.1x 17.2x 15.2x
FCF Yield 1.97% 1.41% 4.5% 2.57% 3.36% 5.53% 5.81% 6.58%
Dividend per Share 2 1.36 1.48 1.56 1.68 1.8 1.942 2.054 2.171
Rate of return 1.58% 1.74% 2.41% 2.14% 2.67% 4.27% 4.51% 4.77%
EPS 2 2.8 2.52 2.52 2.92 2.93 5.53 3.259 3.544
Distribution rate 48.6% 58.7% 61.9% 57.5% 61.4% 35.1% 63% 61.3%
Net sales 1 6,318 6,350 6,662 6,724 6,840 7,924 8,154 8,435
EBITDA 1 1,288 1,118 1,224 1,279 1,325 1,564 1,634 1,735
EBIT 1 1,102 917.4 1,024 1,070 1,094 1,298 1,362 1,449
Net income 1 755.3 682 680.6 788.5 789.4 1,471 861.1 933.6
Net Debt 1 4,931 4,816 4,245 4,156 3,900 4,551 4,159 3,803
Reference price 2 85.82 85.18 64.83 78.41 67.48 45.54 45.54 45.54
Nbr of stocks (in thousands) 267,318 268,207 268,332 268,357 268,376 269,064 - -
Announcement Date 27/01/22 26/01/23 25/01/24 23/01/25 22/01/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.08x2.09x10.61x4.35% 12.04B
19.66x2.7x13.49x4.2% 232B
18.1x2.36x14.09x3.54% 74.27B
15.92x1.67x9.48x3.97% 42.8B
14.9x0.53x9.56x2.59% 38.77B
19.39x2.97x12.07x3.6% 32.19B
35.68x3.08x17.97x1.04% 31.54B
25.03x5.24x16.69x3.35% 28.38B
-7.82x1.76x8.76x7.23% 26.31B
Average 16.55x 2.49x 12.53x 3.76% 57.59B
Weighted average by Cap. 18.36x 2.52x 13.01x 3.85%

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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  4. Valuation McCormick & Company, Incorporated