Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

McCormick & Company, Incorporated (MKC)

Company Dividend Discount ModelIndustry: Packaged FoodsSector: Consumer Defensive

Valuation Snapshot

Stable Growth$37.25 - $64.00$48.80
Multi-Stage$42.89 - $46.85$44.83
Blended Fair Value$46.81
Current Price$70.37
Upside-33.47%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS8.34%8.89%1.671.551.471.351.221.121.010.880.810.76
YoY Growth--7.77%5.50%9.19%10.06%9.23%10.53%15.07%9.09%6.30%6.50%
Dividend Yield--2.03%2.26%1.98%1.42%1.45%1.53%1.49%1.65%1.64%1.63%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)778.00
(-) Cash Dividends Paid (M)474.90
(=) Cash Retained (M)303.10
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)155.6097.2558.35
Cash Retained (M)303.10303.10303.10
(-) Cash Required (M)-155.60-97.25-58.35
(=) Excess Retained (M)147.50205.85244.75
(/) Shares Outstanding (M)269.48269.48269.48
(=) Excess Retained per Share0.550.760.91
LTM Dividend per Share1.761.761.76
(+) Excess Retained per Share0.550.760.91
(=) Adjusted Dividend2.312.532.67
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate2.71%3.71%4.71%
Fair Value$37.25$48.80$64.00
Upside / Downside-47.07%-30.66%-9.05%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)778.00806.87836.81867.86900.07933.47961.47
Payout Ratio61.04%66.83%72.62%78.42%84.21%90.00%92.50%
Projected Dividends (M)474.90539.25607.73680.55757.93840.12889.36

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate2.71%3.71%4.71%
Year 1 PV (M)489.60494.37499.13
Year 2 PV (M)500.96510.77520.66
Year 3 PV (M)509.33524.35539.67
Year 4 PV (M)515.01535.36556.31
Year 5 PV (M)518.30544.02570.76
PV of Terminal Value (M)9,024.229,472.179,937.72
Equity Value (M)11,557.4312,081.0412,624.26
Shares Outstanding (M)269.48269.48269.48
Fair Value$42.89$44.83$46.85
Upside / Downside-39.05%-36.29%-33.43%

High-Yield Dividend Screener

« Prev Page 4 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
EG7.IRFBD Holdings plc12.49%$1.9761.47%
WILCG. Willi-Food International Ltd.12.48%$3.5852.70%
9908.HKJiaXing Gas Group Co., Ltd.12.44%$1.0240.94%
MPMX.JKPT Mitra Pinasthika Mustika Tbk12.44%$120.0095.84%
0QL5.LCarlo Gavazzi Holding AG12.42%$20.0062.49%
GOZ.AXGrowthpoint Properties Australia12.40%$0.3016.37%
1999.HKMan Wah Holdings Limited12.39%$0.5757.62%
1285.HKJiashili Group Limited12.38%$0.1455.24%
600015.SSHua Xia Bank Co., Limited12.36%$0.8549.77%
BNP.DEBNP Paribas S.A.12.28%$10.0751.11%
0836.HKChina Resources Power Holdings Company Limited12.20%$2.1541.97%
BIS.AXBisalloy Steel Group Limited12.19%$0.5981.88%
KBS.BKKhonburi Sugar Public Company Limited12.17%$0.7056.34%
9300.SRAlwaha REIT Fund12.14%$1.1871.67%
2005.HKSSY Group Limited12.13%$0.3550.50%
BGI-UN.TOBrookfield Global Infrastructure Securities Income Fund12.09%$0.9646.13%
2003.HKVCREDIT Holdings Limited12.07%$0.3218.47%
1713.HKSichuan Energy Investment Development Co., Ltd.12.02%$0.2941.35%
NSI.ASNSI N.V.12.02%$2.3330.60%
RIO1.DERio Tinto Group12.02%$8.2864.54%
IGL.AXIVE Group Limited12.01%$0.3574.81%
0G5B.LSto SE & Co. KGaA12.00%$14.6483.41%
CDU.LSConduril - Engenharia, S.A.12.00%$1.8069.00%
2156.HKC&D Property Management Group Co. Limited11.98%$0.3354.74%
0057.HKChen Hsong Holdings Limited11.94%$0.1945.38%
BBSE3.SABB Seguridade Participações S.A.11.93%$4.2691.94%
SWUT.VISW Umwelttechnik Stoiser & Wolschner AG11.93%$3.7034.18%
0Q76.LCBo Territoria S.A.11.92%$0.4461.80%
ALCOF.PACofidur S.A.11.92%$34.8038.87%
0239.HKPak Fah Yeow International Limited11.87%$0.2852.60%
2356.HKDah Sing Banking Group Limited11.87%$1.2941.19%
3311.HKChina State Construction International Holdings Limited11.87%$1.1029.31%
ENGI.PAEngie S.A.11.87%$2.7376.93%
SENA.BKSena Development Public Company Limited11.86%$0.2074.93%
4348.SRAlkhabeer REIT Fund11.85%$0.6698.08%
AWZ.SIMulti-Chem Limited11.83%$0.4160.70%
0331.HKFSE Lifestyle Services Limited11.81%$0.6731.73%
SUL.AXSuper Retail Group Limited11.78%$1.8791.92%
2877.HKChina Shineway Pharmaceutical Group Limited11.77%$1.0139.47%
DSWLDeswell Industries, Inc.11.77%$0.4027.95%
0855.HKChina Water Affairs Group Limited11.75%$0.6256.78%
0659.HKCTF Services Limited11.70%$0.8876.18%
DRA.AXDRA Global Limited11.69%$0.2158.65%
GWA.AXGWA Group Limited11.68%$0.2995.40%
0968.HKXinyi Solar Holdings Limited11.67%$0.3670.18%
ENI-UN.TOEnergy Income Fund11.66%$0.2356.38%
TCF.AX360 Capital Mortgage REIT11.66%$0.6776.18%
3316.HKBinjiang Service Group Co. Ltd.11.65%$2.7669.09%
CC3.SIStarHub Ltd11.65%$0.1381.69%
TFG-R.BKThaifoods Group Public Company Limited11.65%$0.5242.58%