McCormick & Company Incorporated (MKC)
Debt-to-assets ratio
| Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 3,593,600 | 3,343,100 | 3,325,800 | 3,329,100 | 3,339,900 | 3,385,300 | 4,117,600 | 3,619,800 | 3,642,300 | 3,904,800 | 3,920,300 | 3,964,500 | 3,973,300 | 3,985,000 | 4,735,900 | 4,739,200 | 3,753,800 | 3,737,500 | 4,113,600 | 3,627,900 |
| Total assets | US$ in thousands | 13,070,300 | 13,204,900 | 12,987,600 | 12,890,100 | 12,862,300 | 12,990,100 | 12,908,200 | 13,205,400 | 13,124,900 | 12,941,000 | 12,957,900 | 12,940,800 | 12,905,800 | 12,884,400 | 12,810,500 | 12,685,100 | 12,089,700 | 10,860,700 | 10,576,100 | 10,491,700 |
| Debt-to-assets ratio | 0.27 | 0.25 | 0.26 | 0.26 | 0.26 | 0.26 | 0.32 | 0.27 | 0.28 | 0.30 | 0.30 | 0.31 | 0.31 | 0.31 | 0.37 | 0.37 | 0.31 | 0.34 | 0.39 | 0.35 |
November 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $3,593,600K ÷ $13,070,300K
= 0.27
The debt-to-assets ratio for McCormick & Company Incorporated has shown a relatively stable trend over the period from February 29, 2020, to November 30, 2024. The ratio fluctuated between 0.25 and 0.39 during this period, indicating that the company's level of debt relative to its total assets varied but generally remained moderate.
In the most recent period ending on November 30, 2024, the debt-to-assets ratio stood at 0.27, indicating that for every dollar of assets, the company had $0.27 in debt. This suggests that McCormick & Company continues to maintain a prudent balance between debt and assets, reflecting a healthy financial position.
Overall, the trend in the debt-to-assets ratio for McCormick & Company Incorporated indicates a consistent and reasonable level of leverage, which may be viewed positively by investors and creditors as it suggests a manageable level of debt relative to the company's asset base.