McCormick & Company, Incorporat — Earnings Quality Grade F
MKC · Consumer Defensive
Major red flags
Screening Summary
管理层信号
数据来源：SEC EDGAR 8-K Item 5.02，附 Exhibit 99.1 链接
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 34 days, change +2 days YoY
AR growth 7.1% vs revenue growth 1.7%
Revenue 1.7%, CFFO 4.4%. Cash follows revenue
Expense Quality
Inventory 2.6% vs COGS 2.8%. Normal
CapEx growth -19.3% vs revenue 1.7%. Normal
SG&A/Gross Profit = 57.9%. Normal
Gross margin 37.9%, change -0.6pp. Stable
Cash Flow Quality
CFFO/NI = 1.22. Profits backed by cash
FCF $0.7B, FCF/NI = 0.94
Accruals ratio = -1.3%. Low accruals
Cash $0.1B covers only 2% of debt $4.2B
Balance Sheet Health
Goodwill+Intangibles $8.8B = 153% of equity. Over 50%
Debt/EBITDA = 3.1x. Healthy
Other assets -17.6% vs revenue 1.7%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 1% YoY. Normal
Manipulation Score
M-Score = -2.45 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25