TacticScaleWhat McCormick Does & How It Makes Money (MKC)
Updated October 2026 · reflects McCormick's latest reported financials
Global maker of spices, seasonings, condiments, and flavors. It earns revenue by selling branded and private-label spices, seasonings, and condiments to retailers and distributors (Consumer segment).
How McCormick makes money
It earns revenue by selling branded and private-label spices, seasonings, and condiments to retailers and distributors (Consumer segment). It also sells seasoning blends, coating systems, and compound flavors to multinational food manufacturers and foodservice customers (Flavor Solutions segment).
What McCormick does
McCormick & Company is a flavor company founded in 1889 and headquartered in Hunt Valley, Maryland. It reports two segments. The Consumer segment sells spices, herbs, seasonings, condiments, sauces, and desserts under a large portfolio of brands. In the Americas these include McCormick, French's, Frank's RedHot, Lawry's, Cholula, Club House, Gourmet Garden, and OLD BAY. In Europe, the Middle East, and Africa they include Ducros, Schwartz, Kamis, and Vahiné, and in Asia/Pacific they include McCormick and DaQiao. Regional brands include Zatarain's, Stubb's, and Thai Kitchen. These products reach grocery, mass merchandise, warehouse club, discount, drug, and e-commerce retailers. The Flavor Solutions segment works business-to-business. It supplies seasoning blends, spices, condiments, coating systems, and compound flavors to multinational food manufacturers and foodservice customers. Together, the two segments give McCormick sales to household shoppers and to the food industry.
Products & services
- McCormick spices and seasonings
- French's mustard and condiments
- Frank's RedHot hot sauce
- Cholula Hot Sauce
- OLD BAY seasoning
- Lawry's, Zatarain's and Ducros seasonings
What is McCormick worth?
On an owner-earnings DCF, McCormick's most-likely value is about $64 versus a recent price near $45 (43% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$34) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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