For the year ending 2025-11-30, MKC-V had -$90.2M decrease in cash & cash equivalents over the period. $740.4M in free cash flow.
| Cash Flow | 2025-11-30 | 2024-11-30 | 2023-11-30 | 2022-11-30 |
|---|---|---|---|---|
| Net income | 789.4 | 788.5 | 680.6 | 682 |
| Depreciation and amortization | 231.3 | 208.8 | 199.3 | 200.6 |
| Stock-based compensation | 46.2 | 47.4 | 63.4 | 60.3 |
| Loss on the sale of a business | 0 | 0 | -1.2 | 63.2 |
| Asset impairment charges | - | 0 | 0 | 10 |
| Business combination, amortization of inventory fair value adjustments | - | - | 0 | 0 |
| (gain) loss on sale of assets | 0 | 2.1 | -0.2 | 0.5 |
| Deferred income tax benefit | -6.5 | -30.3 | -5.4 | 21.8 |
| Income from unconsolidated operations | 72.2 | 74.2 | 56.4 | 37.8 |
| Trade accounts receivable | 14.7 | 20.5 | -3.4 | 45.8 |
| Inventories | -23.9 | 125 | -225 | 205.3 |
| Trade accounts payable | 1.2 | 135.1 | -68.1 | 125.3 |
| Other assets and liabilities | 94.2 | 72.6 | -109 | 129.9 |
| Dividends received from unconsolidated affiliates | 57.8 | 66.8 | 85.1 | 34 |
| Net cash flow provided by operating activities | 962.2 | 921.9 | 1,237.3 | 651.5 |
| Acquisition of business | 34.1 | - | 0 | 0 |
| Proceeds from sale of business | 0 | 0 | 1 | 95.2 |
| Proceeds from sale of unconsolidated operation | - | - | 0 | 0 |
| Proceeds from sale of intangible asset | - | 0 | 0 | 13.6 |
| Capital expenditures (including expenditures for capitalized software) | - | - | - | 262 |
| Capital expenditures (including software) | 221.8 | 274.9 | 263.9 | - |
| Other investing activities | 0.7 | 5.9 | 2.4 | 6.8 |
| Net cash flow used in investing activities | -255.2 | -269 | -260.5 | -146.4 |
| Short-term borrowings (repayments), net | -101.4 | 211.1 | -964.6 | 698.3 |
| Long-term debt borrowings | 2.7 | 495.5 | 496.4 | 0 |
| Payment of debt issuance costs | 0 | 1 | 1.1 | 0 |
| Long-term debt repayments | 267.9 | 801.1 | 268.1 | 772 |
| Proceeds from exercised stock options | 20.9 | 17.5 | 16.6 | 41.4 |
| Taxes withheld and paid on employee stock awards | 13.2 | 9 | 10.8 | 19.4 |
| Common stock acquired by purchase | 34.8 | 53.1 | 35.7 | 38.8 |
| Dividends paid | 483 | 451 | 418.5 | 396.7 |
| Other financing activities | 35.8 | 8 | 1.6 | - |
| Net cash flow used in financing activities | -840.9 | -583.1 | -1,184.2 | -487.2 |
| Effect of exchange rate changes on cash and cash equivalents | 43.7 | -50.3 | 40 | -35.6 |
| Increase (decrease) in cash and cash equivalents | -90.2 | 19.5 | -167.4 | -17.7 |
| Cash and cash equivalents at beginning of period | 186.1 | 166.6 | 334 | 351.7 |
| Cash and cash equivalents at end of period | 95.9 | 186.1 | 166.6 | 334 |
MCCORMICK & CO INC (MKC-V)
MCCORMICK & CO INC (MKC-V)