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The Screen · Consumer Defensive · Packaged Foods
MKCMcCormick & Company
MKC · a US exchange · USD · Market cap $12.5B · 14,100 employees
McCormick & Company, Incorporated manufactures, markets, and distributes herbs, spices, seasoning mixes, condiments, and other flavorful products to the food industry.
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.39, read 2026-10-23
Ethical passes the values gate
Price46.35 USD
Fair value59.64
Ethical score84.4/100
RatingOPPORTUNITY
Our investment reviews on this name
2026-10-11Read Distribution48.40-4.2% to today ✓Markdown gives way to Distribution
2026-09-24Read Markdown48.89-5.2% to today ✓Markup gives way to Markdown after a 12% slide in 3 weeks
2026-09-05Read Markup55.41-16.4% to today Distribution gives way to Markup after a 17% rise in 9 weeks
2026-07-02Read Distribution47.24-1.9% to today ✓First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
McCormick & Company holds its Markup at $46.35. Elevated stress, defensive posture warranted, held for 9 days.
As held on the ledger · 2026-10-16
Phase
Markup
Quantitative state
Elevated stress, defensive posture warranted, held for 9 days
Price at the screen
$46.35
Valuation
8.38 trailing · 14.42 forward price to earnings
Values screen
PASS· score 84.4
Beta
0.64
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
31.54%
Below 33%
Interest-bearing debt is just 31.5% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
2.28%
Below 33%
Cash held in interest-bearing accounts and securities is 2.3% of assets, under the one-third limit.
Pass
Receivables
5.49%
Below 49%
Money owed to the company is 5.5% of assets, under the 49% limit.
Pass
Revenue purity
0.59%
Below 5%
Only 0.6% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
McCormick & clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 32%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-10-24. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when MKC's ethical verdict changes
Today MKC passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads OPPORTUNITY: it trades at roughly a 29% discount to our $59.64 fair value, strong competitive moat, 17.40% revenue growth.
Fair value range in USD, drawn from the 2026-10-16 screen. The gold marker is the market price at the same screen. A 28.7% margin of safety to the base estimate.
Third-party analyst targets: 13 covering, consensus Buy. The average target sits +19% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-16 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Spice rack staple with real staying power
Think about the last time you reached for oregano or a taco seasoning packet. McCormick sits behind most of those everyday choices, selling herbs, spices and mixes through supermarkets and food makers alike. The business clears a strong moat, passes the ethical screen and trades at a forward multiple of 15.6 times with 21 percent headroom to fair value.
Revenue is running 17 percent higher, profit margins sit at 22 percent and return on equity reaches 25 percent. Thirteen analysts carry a buy consensus with a median target near 60 dollars, which lines up with the numbers rather than fighting them. Defensive consumer staples rarely combine that kind of profitability with a sensible price.
Raw material swings and private-label pressure can still squeeze margins when harvests disappoint or shoppers trade down. Growth may also slow once post-pandemic stocking normalises. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
MKC trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-18Distribution$46.35-4.2%Entry 9
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 4.2% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 33%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (13 analysts) rates it buy, with a mean price target of $55.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 33%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (13 analysts) rates it buy, with a mean price target of $55.
2026-10-02Markdown$48.40-1.0%Entry 7
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 1.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 33%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (13 analysts) rates it buy, with a mean price target of $60.
2026-09-24Markdown · changed$48.89-11.8%Entry 6
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 11.8% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 33%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (13 analysts) rates it buy, with a mean price target of $60. It reported earnings in this window, a natural checkpoint for the thesis.
2026-09-05Markup · changed$55.41+7.5%Entry 5
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 7.5% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 33%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (13 analysts) rates it buy, with a mean price target of $61.
2026-08-05Distribution$51.53+9.1%Entry 4
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 9.1% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 33%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (13 analysts) rates it buy, with a mean price target of $62.
2026-07-18Distribution$47.24+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 33%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (13 analysts) rates it buy, with a mean price target of $62.
2026-07-03Distribution$47.24+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Distribution$47.24Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.