McCormick & Company Incorporated (MKC)
Gross profit margin
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 2,502,500 | 2,274,500 | 2,494,600 | 2,300,400 | 2,145,300 |
| Revenue | US$ in thousands | 6,662,200 | 6,350,500 | 6,317,900 | 5,601,300 | 5,347,400 |
| Gross profit margin | 37.56% | 35.82% | 39.48% | 41.07% | 40.12% |
November 30, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $2,502,500K ÷ $6,662,200K
= 37.56%
The gross profit margin of McCormick & Co., Inc. has exhibited fluctuations over the past five years. The margin decreased to 35.82% in November 2022 from 39.48% in November 2021, reflecting a decline in the company's profitability. However, in November 2023, the gross profit margin increased to 37.56%, indicating a partial recovery. The general trend depicts a decrease in the gross profit margin over the past five years, possibly due to factors such as changes in pricing strategies, input costs, or product mix. Further analysis of the company's cost structure and pricing strategies is recommended to better understand the drivers behind these fluctuations and to assess the company's overall performance.