McCormick (MKC)
Market Price (10/1/2026): $48.67 | Market Cap: $13.1 BilSector: Consumer Staples | Industry: Packaged Foods & Meats
McCormick (MKC)
Market Price (10/1/2026): $48.67Market Cap: $13.1 BilSector: Consumer StaplesIndustry: Packaged Foods & Meats
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, Dividend Yield is 3.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 13%, FCF Yield is 5.5% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13% Low stock price volatilityVol 12M is 30% Megatrend and thematic driversMegatrends include Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Organic & Natural Products, Vegan Products, Show more. | Weak multi-year price returns2Y Excs Rtn is -75%, 3Y Excs Rtn is -110% | Key risksMKC key risks include [1] vulnerability to price volatility and disruptions within its complex global supply chain for agricultural ingredients and [2] increased costs from specific trade policies and adverse foreign exchange rates. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, Dividend Yield is 3.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 13%, FCF Yield is 5.5% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Low stock price volatilityVol 12M is 30% |
| Megatrend and thematic driversMegatrends include Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Organic & Natural Products, Vegan Products, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -75%, 3Y Excs Rtn is -110% |
| Key risksMKC key risks include [1] vulnerability to price volatility and disruptions within its complex global supply chain for agricultural ingredients and [2] increased costs from specific trade policies and adverse foreign exchange rates. |
Qualitative Assessment
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McCormick (MKC) stock has lost about 5% since 6/30/2026 because of the following key factors:
1. Lingering investor concerns over the proposed Unilever food business acquisition have weighed on McCormick's stock. This potential transaction raised worries about increased leverage for McCormick, projected to reach approximately 4.0x EBITDA, along with associated execution risks. The ongoing regulatory review in the UK and the agreement to sell the Colman's mustard brand also introduced uncertainty regarding the deal's final structure and timing.
2. Expectations for a year-over-year decline in diluted earnings per share (EPS) for fiscal Q3 2026 contributed to negative sentiment. Ahead of McCormick's fiscal Q3 2026 earnings report on October 1, 2026, analysts anticipated diluted EPS of around $0.75 or $0.76, representing an 11.8% decrease from $0.85 in the prior-year quarter. These projections suggested weakening profitability despite expected revenue growth.
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McCormick (MKC) stock has lost about 5% since 6/30/2026 because of the following key factors:
1. Lingering investor concerns over the proposed Unilever food business acquisition have weighed on McCormick's stock. This potential transaction raised worries about increased leverage for McCormick, projected to reach approximately 4.0x EBITDA, along with associated execution risks. The ongoing regulatory review in the UK and the agreement to sell the Colman's mustard brand also introduced uncertainty regarding the deal's final structure and timing.
2. Expectations for a year-over-year decline in diluted earnings per share (EPS) for fiscal Q3 2026 contributed to negative sentiment. Ahead of McCormick's fiscal Q3 2026 earnings report on October 1, 2026, analysts anticipated diluted EPS of around $0.75 or $0.76, representing an 11.8% decrease from $0.85 in the prior-year quarter. These projections suggested weakening profitability despite expected revenue growth.
3. Broader macroeconomic headwinds, including rising Treasury yields and inflationary pressures, impacted the consumer staples sector. During the period, a global bond-market selloff pushed Treasury yields to multi-decade highs, creating a cautious macroeconomic backdrop that pressured defensive stocks like McCormick. Analysts also noted the re-emergence of inflationary concerns as a sector-wide issue.
4. Persistent concerns about McCormick's long-term growth trajectory and capital efficiency have dampened investor confidence. The company has experienced slow sales growth, averaging 2.5% annually over the past three years, which is below typical consumer staples companies. Its return on invested capital of 8.9% further highlighted challenges in identifying attractive investment opportunities.
5. Significant insider selling in August 2026, totaling over $10 million, signaled a lack of confidence from those closest to the company. A notable transaction involved the sale of 205,538 shares by 10% Owner Kurzius Lawrence Erik, valued at $10.8 million, on August 10, 2026. This substantial insider selling contributed to a mixed narrative for the stock.
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Stock Movement Drivers
Fundamental Drivers
The -7.1% change in MKC stock from 6/30/2026 to 9/30/2026 was primarily driven by a -7.1% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 9302026 | Change |
|---|---|---|---|
| Stock Price ($) | 49.97 | 46.40 | -7.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,109 | 7,109 | 0.0% |
| Net Income Margin (%) | 23.2% | 23.2% | 0.0% |
| P/E Multiple | 8.1 | 7.6 | -7.1% |
| Shares Outstanding (Mil) | 269 | 269 | 0.0% |
| Cumulative Contribution | -7.1% |
Market Drivers
6/30/2026 to 9/30/2026| Return | Correlation | |
|---|---|---|
| MKC | -7.1% | |
| Market (SPY) | 2.1% | 1.7% |
| Sector (XLP) | -3.0% | 66.1% |
Fundamental Drivers
The -6.3% change in MKC stock from 3/31/2026 to 9/30/2026 was primarily driven by a -6.3% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 9302026 | Change |
|---|---|---|---|
| Stock Price ($) | 49.55 | 46.40 | -6.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,109 | 7,109 | 0.0% |
| Net Income Margin (%) | 23.2% | 23.2% | 0.0% |
| P/E Multiple | 8.1 | 7.6 | -6.3% |
| Shares Outstanding (Mil) | 269 | 269 | 0.0% |
| Cumulative Contribution | -6.3% |
Market Drivers
3/31/2026 to 9/30/2026| Return | Correlation | |
|---|---|---|
| MKC | -6.3% | |
| Market (SPY) | 17.6% | -10.2% |
| Sector (XLP) | -1.0% | 54.8% |
Fundamental Drivers
The -28.4% change in MKC stock from 9/30/2025 to 9/30/2026 was primarily driven by a -66.3% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 9302026 | Change |
|---|---|---|---|
| Stock Price ($) | 64.82 | 46.40 | -28.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,743 | 7,109 | 5.4% |
| Net Income Margin (%) | 11.5% | 23.2% | 101.4% |
| P/E Multiple | 22.4 | 7.6 | -66.3% |
| Shares Outstanding (Mil) | 269 | 269 | -0.1% |
| Cumulative Contribution | -28.4% |
Market Drivers
9/30/2025 to 9/30/2026| Return | Correlation | |
|---|---|---|
| MKC | -28.4% | |
| Market (SPY) | 15.4% | -13.3% |
| Sector (XLP) | 5.0% | 54.6% |
Fundamental Drivers
The -33.7% change in MKC stock from 9/30/2023 to 9/30/2026 was primarily driven by a -71.8% change in the company's P/E Multiple.| (LTM values as of) | 9302023 | 9302026 | Change |
|---|---|---|---|
| Stock Price ($) | 69.94 | 46.40 | -33.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,516 | 7,109 | 9.1% |
| Net Income Margin (%) | 10.7% | 23.2% | 116.0% |
| P/E Multiple | 26.8 | 7.6 | -71.8% |
| Shares Outstanding (Mil) | 268 | 269 | -0.1% |
| Cumulative Contribution | -33.7% |
Market Drivers
9/30/2023 to 9/30/2026| Return | Correlation | |
|---|---|---|
| MKC | -33.7% | |
| Market (SPY) | 84.5% | 9.9% |
| Sector (XLP) | 26.2% | 57.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MKC Return | 3% | -13% | -16% | 14% | -8% | -28% | -43% |
| Peers Return | 3% | -2% | -15% | -7% | -32% | -17% | -55% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| MKC Win Rate | 42% | 50% | 50% | 50% | 42% | 56% | |
| Peers Win Rate | 50% | 53% | 43% | 45% | 30% | 47% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| MKC Max Drawdown | -18% | -31% | -36% | -13% | -24% | -36% | |
| Peers Max Drawdown | -25% | -30% | -38% | -26% | -39% | -38% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GIS, SJM, CAG, INGR, BYND. See MKC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/30/2026 (YTD)
How Low Can It Go
| Event | MKC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -25.0% | -24.5% |
| % Gain to Breakeven | 33.4% | 32.4% |
| Time to Breakeven | 265 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.6% | -33.7% |
| % Gain to Breakeven | 44.1% | 50.9% |
| Time to Breakeven | 46 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -10.6% | -12.2% |
| % Gain to Breakeven | 11.8% | 13.9% |
| Time to Breakeven | 58 days | 62 days |
| 2013 Taper Tantrum | ||
| % Loss | -10.8% | -0.2% |
| % Gain to Breakeven | 12.1% | 0.2% |
| Time to Breakeven | 50 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -12.5% | -17.9% |
| % Gain to Breakeven | 14.3% | 21.8% |
| Time to Breakeven | 89 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -24.7% | -53.4% |
| % Gain to Breakeven | 32.8% | 114.4% |
| Time to Breakeven | 417 days | 1085 days |
In The Past
McCormick's stock fell -0.2% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.2% gain to breakeven.
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Asset Allocation
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| Event | MKC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -25.0% | -24.5% |
| % Gain to Breakeven | 33.4% | 32.4% |
| Time to Breakeven | 265 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.6% | -33.7% |
| % Gain to Breakeven | 44.1% | 50.9% |
| Time to Breakeven | 46 days | 140 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -24.7% | -53.4% |
| % Gain to Breakeven | 32.8% | 114.4% |
| Time to Breakeven | 417 days | 1085 days |
In The Past
McCormick's stock fell -0.2% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About McCormick (MKC)
McCormick & Company (MKC) is a global leader in the flavor industry, manufacturing, marketing, and distributing a wide array of spices, seasoning mixes, condiments, and other flavorful food products. The company operates through two primary segments, serving both individual consumers and large-scale food industry clients.
Its Consumer segment offers a vast portfolio of familiar household brands, including McCormick, French's, Frank's RedHot, Lawry's, Cholula Hot Sauce, and OLD BAY, alongside various regional and international brands. These products, which encompass spices, herbs, seasonings, condiments, sauces, and desserts, are sold to a broad range of retailers such as grocery stores, mass merchandisers, warehouse clubs, and e-commerce platforms worldwide, often under both McCormick's proprietary brands and private labels.
The Flavor Solutions segment, on the other hand, serves business-to-business customers by supplying specialized seasoning blends, spices, herbs, condiments, coating systems, and compound flavors. Its primary customers are multinational food manufacturers and foodservice companies, for whom McCormick provides essential ingredients that enhance the taste and appeal of their own products. Essentially, McCormick plays a critical role in bringing flavor to kitchens and food products globally, whether directly to consumers or as a key supplier to the food industry.
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- The Procter & Gamble of the spice rack.
- The "Intel Inside" for food flavors.
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- Spices, Herbs, and Seasonings: A wide array of individual spices, herbs, and blended seasonings offered to both consumers and as ingredients for food manufacturers.
- Condiments and Sauces: Various consumer-facing condiments and sauces, including popular brands like Frank's RedHot and Cholula, as well as bulk offerings for foodservice.
- Dessert Products: Flavorings and mixes primarily for consumer use in baking and dessert preparation.
- Flavor Systems and Solutions: Custom seasoning blends, coating systems, and compound flavors developed for multinational food manufacturers and foodservice customers.
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McCormick & Company (MKC) primarily sells its products to other companies (B2B) across its two segments: Consumer and Flavor Solutions.
Consumer Segment Customers:
This segment serves retailers, including grocery stores, mass merchandisers, warehouse clubs, discount and drug stores, and e-commerce retailers. While McCormick does not disclose specific names of its major customers in this segment, prominent examples of such companies that are highly likely to be major customers include:
- Walmart Inc. (WMT)
- The Kroger Co. (KR)
- Costco Wholesale Corporation (COST)
- Amazon.com, Inc. (AMZN)
Flavor Solutions Segment Customers:
This segment supplies seasoning blends, spices and herbs, condiments, coating systems, and compound flavors to multinational food manufacturers and foodservice customers. Again, specific names are not disclosed, but examples of companies that would likely be major customers include:
- General Mills, Inc. (GIS)
- PepsiCo, Inc. (PEP)
- Sysco Corporation (SYY) (a major foodservice distributor)
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Brendan B. Foley, Chairman, President and Chief Executive Officer
Brendan B. Foley became Chairman, President, and Chief Executive Officer of McCormick & Company in September 2023, having joined McCormick in 2014. During his tenure at McCormick, he has held several key executive management positions, including President and Chief Operating Officer, President of U.S. Consumer, President of North America, and President of Global Consumer - Americas and Asia. Before joining McCormick, Mr. Foley spent 15 years at H.J. Heinz (now KraftHeinz), where he held various marketing and general management roles, culminating in his position as President for the North America Zone. He also worked in marketing at General Mills, Inc. Mr. Foley began his career in the advertising industry and currently serves on the Board of Directors for Fortune Brands Innovations Inc.
Marcos Gabriel, Executive Vice President and Chief Financial Officer
Marcos Gabriel was appointed Executive Vice President and Chief Financial Officer of McCormick & Company, effective December 1, 2024. He joined McCormick in 2017 and has held key leadership roles, including Senior Vice President for Global Finance and Capital Markets, Chief Transformation Officer, and CFO, Americas. Prior to his time at McCormick, Mr. Gabriel served as Global Vice President of Corporate Finance and Head of Investor Relations at Avon Products. His extensive experience also includes key finance roles at Unilever and Eli Lilly across multiple countries. Mr. Gabriel is a member of the Board of Directors for the National Life Group.
Jeffery Schwartz, Vice President, General Counsel & Corporate Secretary
Jeffery Schwartz is McCormick's Vice President, General Counsel & Corporate Secretary, a role he assumed in December 2014. He is responsible for the company's Legal function and is a member of its Global Operating Committee. Mr. Schwartz joined McCormick in 2008 as Associate Counsel and became Associate General Counsel in 2011. Before joining McCormick, he was in private practice at law firms in Washington, D.C., and Moscow, Russia.
Andrew Foust, President, Americas
Andrew Foust serves as McCormick's President, Americas. He joined McCormick in 2006 and has held various leadership positions within the company. Prior to his current role, he was the General Manager for Canada in 2016 and President of the U.S. Consumer Products Division in 2018.
Tabata Gomez, Chief Growth and Marketing Officer
Tabata Gomez serves as McCormick's Chief Growth and Marketing Officer. In this role, she is responsible for leading the development and activation of the company's enterprise-wide growth strategies and oversees global marketing.
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Here are the key risks to McCormick & Company (MKC):
- Vulnerability to global economic conditions, including inflationary pressures, trade policies, and volatility in commodity prices and supply chains. McCormick is significantly exposed to rising commodity costs for its agricultural ingredients, such as spices and herbs, which can impact gross margins and profitability. The company also faces increased costs due to trade policies, including tariffs. Furthermore, its complex global supply chain is susceptible to disruptions, which can affect the availability and cost of raw materials and impact overall operations. Deteriorating global economic conditions and inflationary pressures can also affect consumer purchasing power.
- Fluctuations in foreign exchange rates. Given that approximately 39% of McCormick's sales in fiscal year 2025 were from non-U.S. operations, the company is subject to the adverse effects of foreign currency fluctuations on its revenue, costs, and reported earnings.
- Intense competition, changing consumer preferences, and potential loss of major customers. McCormick operates in a competitive market for spices, seasonings, and condiments, facing challenges from both established brands and private labels. Changes in consumer preferences and decelerating growth in mature markets pose an ongoing risk to demand for its products. Additionally, a concentration of sales among a few major customers (with two customers individually exceeding 10% of consolidated net sales in recent fiscal years) presents a risk, as the loss of such a customer could materially decrease future sales and earnings.
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McCormick & Company, Incorporated operates within several significant addressable markets globally and in the U.S. for its diverse range of spices, seasoning mixes, condiments, and flavor solutions.
Spices and Seasonings
- The global spices and seasonings market was valued at approximately USD 24.51 billion in 2024 and is projected to reach USD 34.17 billion by 2030, growing at a CAGR of 5.69% during the forecast period. Another report estimated the global market size at USD 21.14 billion in 2025, projected to grow to USD 32.88 billion by 2034. Yet another source valued the global market at USD 29.49 billion in 2024, expected to reach USD 48.16 billion by 2033.
- In the U.S., the spices and seasonings market was valued at USD 18.45 billion in 2025 and is projected to reach USD 24.85 billion by 2032. Other estimates place the U.S. market size at USD 7.52 billion in 2025, with a projection to reach USD 13.23 billion by 2034. Furthermore, the U.S. seasoning & spices market generated USD 489.8 million in revenue in 2024 and is expected to reach USD 780.2 million by 2030.
Condiments and Sauces
- The global condiments market size was valued at USD 110.39 billion in 2025 and is projected to grow to USD 176.53 billion by 2034. Another estimate placed the global condiments market size at USD 9.9 billion in 2024, expected to reach USD 14.8 billion by 2033.
- The global sauces, dressings & condiments market was valued at USD 165.81 billion in 2023 and is projected to reach USD 237.54 billion by 2030.
- In the U.S., the condiments market is projected to reach USD 32.84 billion by 2032. Another report states the U.S. sauces, dressings & condiments market size was around USD 36.11 billion in 2024 and is projected to reach USD 41.18 billion by 2030. The retail sales for sauces, dips, and condiments in the U.S. were USD 31.5 billion in 2022. The market size of Seasoning, Sauce and Condiment Production in the U.S. was USD 33.1 billion in 2024.
Flavor Solutions
- The global flavors market size was estimated at USD 21.42 billion in 2025 and is projected to reach USD 33.03 billion by 2033. Another source valued the global flavor market at USD 17.22 billion in 2024, expected to reach USD 27.65 billion by 2032. The global flavors and fragrances market was valued at USD 30.1 billion in 2025 and is projected to grow to USD 46.62 billion by 2034. The global flavor systems market size was valued at USD 10.86 billion in 2024 and is expected to reach USD 16.92 billion by 2032.
- The U.S. flavors market size was estimated at USD 4,077.9 million in 2025 and is projected to reach USD 6,108.4 million by 2033. The U.S. food flavors market size was valued at USD 4.2 billion in 2024, with a projection to reach USD 6.0 billion by 2033. Another estimate for the U.S. food flavors market was USD 7.83 billion in 2024, projected to grow to USD 13.15 billion by 2032. The flavors and fragrances market in the U.S. is projected to reach USD 6.88 billion by 2032.
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For McCormick (MKC), the following are expected drivers of future revenue growth over the next 2-3 years:
- Strategic Acquisitions: The acquisition of McCormick de Mexico is anticipated to contribute significantly to both top-line growth and operating income in 2026.
- Organic Net Sales Growth (Volume and Pricing): McCormick projects organic net sales growth of 1-3% for 2026, driven by a combination of increased volume and strategic pricing actions.
- Product Innovation and Brand Investment: The company plans continued investment in its core categories, brands, new product launches, in-year innovation, and continuous renovation to drive differentiated, volume-led organic growth and market share gains.
- Expanded Distribution and High-Growth Channel Expansion: Accelerating distribution and expanding into high-growth channels are key strategies for increasing reach and revenue.
- Revenue Growth Management: McCormick is focusing on revenue growth management to optimize its pricing and promotional strategies, which is identified as a driver for 2026.
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Share Repurchases
- McCormick's share repurchases were -$48.0 million in 2025, -$62.1 million in 2024, and -$46.5 million in 2023.
- The company's annual share buybacks were $34.8 million in 2025, $53.1 million in 2024, and $35.7 million in 2023.
Share Issuance
- McCormick's shares outstanding were approximately 269 million in 2025, 270 million in 2024, and 270 million in 2023.
- The number of shares outstanding saw a minor decline of 0.07% in 2025, 0.07% in 2024, and 0.15% in 2023, indicating that repurchases slightly offset any issuances.
- Executives received plan-based awards and phantom stock units, which represent a form of share-based compensation that can lead to share issuance over time.
Outbound Investments
- McCormick completed the acquisition of an additional 25% ownership interest in McCormick de Mexico from Grupo Herdez on January 2, 2026, increasing its total ownership to 75%.
- The purchase price for the increased stake in McCormick de Mexico was $750 million, funded through a combination of cash on hand and commercial paper.
- This expanded ownership in McCormick de Mexico is expected to strengthen McCormick's global flavor leadership and support further growth in the Mexican and broader Latin American markets.
Capital Expenditures
- McCormick's capital expenditures were estimated at $221.8 million in 2025, $274.9 million in 2024, $263.9 million in 2023, $262 million in 2022, and $278 million in 2021.
- Capital expenditures are primarily focused on projects to increase capacity and capabilities, meet growing demand, advance digital transformation, and optimize the company's cost structure.
- The Comprehensive Continuous Improvement (CCI) program continues to fuel growth investments and drive operating margin expansion, supported by capital expenditures.
Peer Outperformance in Packaged Foods & Meats
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| MKC | McCormick | 3.6% | 7.6x | -28.4% | -33.7% | -35.6% | — |
| TR | Tootsie Roll Industries | 0.5% | 29.5x | -6.9% | 41.9% | 50.2% | +86pp |
| SJM | JM Smucker | 2.7% | 55.3x | 14.0% | 8.7% | 19.0% | +55pp |
| MDLZ | Mondelez International | 5.2% | 63.3x | -4.2% | -8.9% | 13.7% | +49pp |
| PPC | Pilgrims Pride | 2.6% | 11.8x | -33.7% | 33.5% | 4.1% | +40pp |
| HSY | Hershey | 3.9% | 21.4x | -13.2% | -14.4% | 4.0% | +40pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Consumer Staples Merchandise Retail | 12 | 3.5% | 43.5% | 62.3% | NGVC 222% · VLGEA 145% · WMT 142% |
| Food Retail | 6 | -11.1% | 45.2% | 29.1% | CASY 234% · SFM 202% · KR 67% |
| Tobacco | 6 | -44.6% | 6.7% | 20.7% | PM 148% · MO 116% · TPB 26% |
| Food Distributors | 9 | -2.6% | 32.8% | 9.5% | CHEF 232% · USFD 154% · ANDE 125% |
| Soft Drinks & Non-alcoholic Beverages | 12 | -9.0% | -16.7% | 1.5% | COKE 409% · BRFH 124% · CCHGY 115% |
| Brewers | 3 | -15.8% | -36.1% | -8.7% | BUD 40% · TAP -9% · SAM -68% |
| Household Products | 19 | 1.1% | -8.8% | -19.6% | ACU 107% · IPAR 63% · CL 27% |
| Agricultural Products & Services | 11 | -13.0% | -7.5% | -19.9% | ADM 50% · BG 48% · ALCO 22% |
| Personal Care Products | 4 | -2.7% | -8.1% | -24.7% | ELF 241% · PG 18% · EL -68% |
| Packaged Foods & Meats ← | 47 | -28.2% | -35.4% | -42.2% | MAMA 435% · LWAY 285% · SENEA 257% |
| Distillers & Vintners | 5 | -47.4% | -61.0% | -78.9% | STZ -42% · BF-B -56% · MGPI -79% |
| Drug Retail | 3 | -45.0% | -86.5% | -94.1% | HITI -56% · PETS -94% · SCNX -99% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 40.87 |
| Mkt Cap | 9.6 |
| Rev LTM | 8,186 |
| Op Inc LTM | 1,189 |
| FCF LTM | 830 |
| FCF 3Y Avg | 870 |
| CFO LTM | 1,150 |
| CFO 3Y Avg | 1,234 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -2.1% |
| Rev Chg 3Y Avg | -3.1% |
| Rev Chg Q | 2.3% |
| QoQ Delta Rev Chg LTM | 0.6% |
| Op Inc Chg LTM | -12.9% |
| Op Inc Chg 3Y Avg | 1.5% |
| Op Mgn LTM | 14.0% |
| Op Mgn 3Y Avg | 14.4% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 11.9% |
| CFO/Rev 3Y Avg | 14.6% |
| FCF/Rev LTM | 8.6% |
| FCF/Rev 3Y Avg | 11.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 9.6 |
| P/S | 1.2 |
| P/Op Inc | 6.4 |
| P/EBIT | 9.4 |
| P/E | 9.1 |
| P/CFO | 7.1 |
| Total Yield | 5.7% |
| Dividend Yield | 3.8% |
| FCF Yield 3Y Avg | 8.1% |
| D/E | 0.5 |
| Net D/E | 0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -12.7% |
| 3M Rtn | -5.3% |
| 6M Rtn | -10.3% |
| 12M Rtn | -22.2% |
| 3Y Rtn | -35.2% |
| 1M Excs Rtn | -12.3% |
| 3M Excs Rtn | -7.6% |
| 6M Excs Rtn | -28.1% |
| 12M Excs Rtn | -36.9% |
| 3Y Excs Rtn | -115.0% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Consumer | 3,950 | 3,848 | 3,807 | 3,758 | 3,938 |
| Flavor Solutions | 2,890 | 2,875 | 2,855 | 2,593 | 2,380 |
| Corporate & other | 0 | 0 | 0 | 0 | |
| Total | 6,840 | 6,724 | 6,662 | 6,350 | 6,318 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Consumer | 721 | 737 | 700 | 687 | 757 |
| Flavor Solutions | 350 | 323 | 263 | 177 | 258 |
| Corporate & other | 0 | 0 | 0 | 0 | |
| Total | 1,071 | 1,060 | 963 | 864 | 1,015 |
| $ Mil | 2001 | 1999 |
|---|---|---|
| Packaging | 141 | 118 |
| Corporate | 88 | |
| Total Food | 983 | |
| Total | 141 | 1,189 |
Price Behavior
| Market Price | $46.40 | |
| Market Cap ($ Bil) | 12.5 | |
| First Trading Date | 03/26/1990 | |
| Distance from 52W High | -34.1% | |
| 50 Days | 200 Days | |
| DMA Price | $51.95 | $55.12 |
| DMA Trend | down | up |
| Distance from DMA | -10.7% | -15.8% |
| 3M | 1YR | |
| Volatility | 26.4% | 30.1% |
| Downside Capture | 62.46 | -6.04 |
| Upside Capture | -11.69 | -43.90 |
| Correlation (SPY) | 0.4% | -13.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.09 | 0.41 | 0.04 | -0.24 | -0.31 | 0.17 |
| Up Beta | 0.10 | 0.10 | -0.32 | -0.26 | -0.54 | 0.25 |
| Down Beta | -2.26 | -0.37 | 0.56 | -0.38 | -0.21 | 0.29 |
| Up Capture | -49% | 25% | -11% | -17% | -23% | -1% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 7 | 21 | 32 | 63 | 130 | 378 |
| Down Capture | 221% | 124% | 34% | -15% | -9% | 31% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 15 | 21 | 32 | 62 | 121 | 370 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MKC | |
|---|---|---|---|---|
| MKC | -28.4% | 30.0% | -1.10 | - |
| Sector ETF (XLP) | 5.3% | 14.5% | 0.13 | 54.7% |
| Equity (SPY) | 15.9% | 13.0% | 0.87 | -13.3% |
| Gold (GLD) | 8.1% | 29.6% | 0.26 | 3.3% |
| Commodities (DBC) | 43.1% | 20.8% | 1.61 | -16.2% |
| Real Estate (VNQ) | 2.2% | 13.6% | -0.09 | 33.1% |
| Bitcoin (BTCUSD) | -27.1% | 44.5% | -0.58 | -9.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MKC | |
|---|---|---|---|---|
| MKC | -9.4% | 25.2% | -0.42 | - |
| Sector ETF (XLP) | 5.4% | 13.7% | 0.17 | 60.3% |
| Equity (SPY) | 13.2% | 17.2% | 0.59 | 20.7% |
| Gold (GLD) | 18.2% | 18.9% | 0.78 | 8.5% |
| Commodities (DBC) | 10.6% | 19.6% | 0.42 | -0.9% |
| Real Estate (VNQ) | 0.5% | 18.9% | -0.08 | 37.8% |
| Bitcoin (BTCUSD) | 13.9% | 52.3% | 0.44 | 5.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MKC | |
|---|---|---|---|---|
| MKC | 1.6% | 24.6% | 0.07 | - |
| Sector ETF (XLP) | 7.1% | 14.9% | 0.34 | 63.7% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 35.6% |
| Gold (GLD) | 11.8% | 16.4% | 0.58 | 11.4% |
| Commodities (DBC) | 8.4% | 18.1% | 0.38 | 5.2% |
| Real Estate (VNQ) | 4.5% | 20.7% | 0.18 | 43.4% |
| Bitcoin (BTCUSD) | 63.6% | 66.2% | 1.03 | 5.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 10/1/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 6/25/2026 | 1.6% | 11.2% | 5.9% |
| 3/31/2026 | -6.1% | -5.0% | -5.1% |
| 1/22/2026 | -8.1% | -7.1% | 2.9% |
| 10/7/2025 | -3.9% | -4.3% | -5.6% |
| 6/26/2025 | 5.3% | 4.0% | -2.2% |
| 3/25/2025 | -0.1% | 2.5% | -4.1% |
| 1/23/2025 | 2.1% | 5.0% | 9.4% |
| 10/1/2024 | 2.2% | -3.0% | -5.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 11 | 11 |
| # Negative | 14 | 12 | 12 |
| Median Positive | 4.3% | 4.0% | 5.2% |
| Median Negative | -3.2% | -4.2% | -4.2% |
| Max Positive | 10.5% | 13.9% | 15.3% |
| Max Negative | -8.5% | -15.0% | -14.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 6/25/2026 | 1.6% | 11.2% | 5.9% |
| 3/31/2026 | -6.1% | -5.0% | -5.1% |
| 1/22/2026 | -8.1% | -7.1% | 2.9% |
| 10/7/2025 | -3.9% | -4.3% | -5.6% |
| 6/26/2025 | 5.3% | 4.0% | -2.2% |
| 3/25/2025 | -0.1% | 2.5% | -4.1% |
| 1/23/2025 | 2.1% | 5.0% | 9.4% |
| 10/1/2024 | 2.2% | -3.0% | -5.4% |
| 6/27/2024 | 4.3% | 3.3% | 12.7% |
| 3/26/2024 | 10.5% | 11.9% | 9.0% |
| 1/25/2024 | 4.3% | 3.6% | 3.5% |
| 10/3/2023 | -8.5% | -15.0% | -14.0% |
| 6/29/2023 | -5.5% | -6.7% | -1.8% |
| 3/28/2023 | 9.6% | 13.9% | 15.3% |
| 1/26/2023 | -5.8% | -3.0% | -3.8% |
| 10/6/2022 | -1.2% | 2.1% | 5.2% |
| 6/29/2022 | -1.4% | -3.9% | 1.2% |
| 3/29/2022 | -0.7% | 3.8% | 4.8% |
| 1/27/2022 | 6.8% | 10.6% | 4.6% |
| 9/30/2021 | -3.2% | -4.1% | -2.6% |
| 7/1/2021 | -0.4% | -1.4% | -4.3% |
| 3/30/2021 | -0.3% | -0.4% | -0.5% |
| 1/28/2021 | -3.2% | -5.7% | -10.4% |
| SUMMARY STATS | |||
| # Positive | 9 | 11 | 11 |
| # Negative | 14 | 12 | 12 |
| Median Positive | 4.3% | 4.0% | 5.2% |
| Median Negative | -3.2% | -4.2% | -4.2% |
| Max Positive | 10.5% | 13.9% | 15.3% |
| Max Negative | -8.5% | -15.0% | -14.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 02/28/2026 | 03/31/2026 | 10-Q |
| 11/30/2025 | 01/22/2026 | 10-K |
| 08/31/2025 | 10/07/2025 | 10-Q |
| 05/31/2025 | 06/26/2025 | 10-Q |
| 02/28/2025 | 03/25/2025 | 10-Q |
| 11/30/2024 | 01/23/2025 | 10-K |
| 08/31/2024 | 10/01/2024 | 10-Q |
| 05/31/2024 | 06/27/2024 | 10-Q |
| 02/29/2024 | 03/26/2024 | 10-Q |
| 11/30/2023 | 01/25/2024 | 10-K |
| 08/31/2023 | 10/03/2023 | 10-Q |
| 05/31/2023 | 06/29/2023 | 10-Q |
| 02/28/2023 | 03/28/2023 | 10-Q |
| 11/30/2022 | 01/26/2023 | 10-K |
| 08/31/2022 | 10/06/2022 | 10-Q |
| 05/31/2022 | 06/29/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 02/28/2026 | 03/31/2026 | 10-Q |
| 11/30/2025 | 01/22/2026 | 10-K |
| 08/31/2025 | 10/07/2025 | 10-Q |
| 05/31/2025 | 06/26/2025 | 10-Q |
| 02/28/2025 | 03/25/2025 | 10-Q |
| 11/30/2024 | 01/23/2025 | 10-K |
| 08/31/2024 | 10/01/2024 | 10-Q |
| 05/31/2024 | 06/27/2024 | 10-Q |
| 02/29/2024 | 03/26/2024 | 10-Q |
| 11/30/2023 | 01/25/2024 | 10-K |
| 08/31/2023 | 10/03/2023 | 10-Q |
| 05/31/2023 | 06/29/2023 | 10-Q |
| 02/28/2023 | 03/28/2023 | 10-Q |
| 11/30/2022 | 01/26/2023 | 10-K |
| 08/31/2022 | 10/06/2022 | 10-Q |
| 05/31/2022 | 06/29/2022 | 10-Q |
| 02/28/2022 | 03/29/2022 | 10-Q |
| 11/30/2021 | 01/27/2022 | 10-K |
| 08/31/2021 | 09/30/2021 | 10-Q |
| 05/31/2021 | 07/01/2021 | 10-Q |
| 02/28/2021 | 03/30/2021 | 10-Q |
| 11/30/2020 | 01/28/2021 | 10-K |
| 08/31/2020 | 09/29/2020 | 10-Q |
| 05/31/2020 | 06/25/2020 | 10-Q |
| 02/29/2020 | 03/31/2020 | 10-Q |
| 11/30/2019 | 01/28/2020 | 10-K |
| 08/31/2019 | 10/01/2019 | 10-Q |
| 05/31/2019 | 06/28/2019 | 10-Q |
Insider Activity
Updated 9/24/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kurzius, Lawrence Erik | Direct | Sell | 8122026 | 52.69 | 205,538 | 10,829,201 | 15,647,647 | Form | |
| 2 | Conway, Michael Aaron | Direct | Buy | 7272026 | 50.21 | 1,100 | 55,227 | 55,227 | Form | |
| 3 | Hattersley, Gavin | Direct | Buy | 4132026 | 52.98 | 2,000 | 105,960 | 153,960 | Form | |
| 4 | Kurzius, Lawrence Erik | Direct | Sell | 2132026 | 71.63 | 50,000 | 3,581,500 | 21,273,537 | Form | |
| 5 | Tapiero, Jacques | Direct | Sell | 2092026 | 67.09 | 5,000 | 335,450 | 2,119,779 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kurzius, Lawrence Erik | Direct | Sell | 8122026 | 52.69 | 205,538 | 10,829,201 | 15,647,647 | Form | |
| 2 | Conway, Michael Aaron | Direct | Buy | 7272026 | 50.21 | 1,100 | 55,227 | 55,227 | Form | |
| 3 | Hattersley, Gavin | Direct | Buy | 4132026 | 52.98 | 2,000 | 105,960 | 153,960 | Form | |
| 4 | Kurzius, Lawrence Erik | Direct | Sell | 2132026 | 71.63 | 50,000 | 3,581,500 | 21,273,537 | Form | |
| 5 | Tapiero, Jacques | Direct | Sell | 2092026 | 67.09 | 5,000 | 335,450 | 2,119,779 | Form | |
| 6 | Tapiero, Jacques | Direct | Sell | 2042026 | 63.85 | 5,000 | 319,250 | 2,017,408 | Form | |
| 7 | Kurzius, Lawrence Erik | Direct | Sell | 1142026 | 67.43 | 50,000 | 3,371,500 | 16,639,162 | Form | |
| 8 | Foley, Brendan M | Chairman, President & CEO | Direct | Sell | 11132025 | 65.56 | 57,144 | 3,746,361 | 7,123,226 | Form |
| 9 | Kurzius, Lawrence Erik | 2023 GRAT G | Sell | 11122025 | 64.54 | 6,574 | Form | |||
| 10 | Kurzius, Lawrence Erik | 2023 GRAT H | Sell | 11122025 | 64.54 | 6,574 | Form | |||
| 11 | Kurzius, Lawrence Erik | 2024 GRAT I | Sell | 11122025 | 64.54 | 5,903 | Form | |||
| 12 | Kurzius, Lawrence Erik | 2024 GRAT J | Sell | 11122025 | 64.54 | 5,903 | Form | |||
| 13 | Kurzius, Lawrence Erik | BY 2025 GRAT K | Sell | 11122025 | 64.54 | 14,060 | Form | |||
| 14 | Kurzius, Lawrence Erik | Direct | Sell | 10102025 | 65.86 | 50,000 | 3,293,000 | 16,251,745 | Form |
Industry Resources
| Consumer Staples Resources |
| FoodNavigator |
| Consumer Goods Technology (CGT) |
| Beverage Digest |
| Packaged Foods & Meats Resources |
| USDA Data |
| Food Processing |
| Meat+Poultry |
| Just Food |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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