HRL vs MKC: Hormel Foods and McCormick & Company compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- McCormick & Company is the larger company, worth $12.5B, close to Hormel Foods's $10.8B.
- McCormick & Company grew revenue faster over the last year (+17.4% vs -2.4%).
- McCormick & Company keeps more of each dollar of revenue as operating profit (13.4% vs 4.7%).
- On earnings, McCormick & Company is the cheaper stock (7.6x vs 22.1x).
- Hormel Foods's price assumes faster free cash flow growth: about 5% a year, against 3% for McCormick & Company (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | HRL | MKC |
|---|---|---|
| Market cap | $10.8B | $12.5B |
| Share price | $19.19 | $44.81 |
| Revenue (last fiscal year) | $12.1B | $6.8B |
| Free cash flow (last fiscal year) | $534M | $740M |
| Revenue growth, last year | -2.4% | +17.4% |
| Revenue growth per year, last 5 fiscal years | +1.5% | +2.0% |
| Operating margin | 4.7% | 13.4% |
| Net margin | 2.8% | 19.4% |
| Return on equity | 4.4% | 21.3% |
| P/E (trailing) | 22.1x | 7.61x |
| Price / free cash flow | 20.3x | 16.9x |
| EV / EBITDA | 14.7x | 13.2x |
| FCF growth the price implies | 5.2% | 2.8% |
| Dividend yield | 5.9% | 4.0% |
| Debt / equity | 0.69x | 1.29x |
| Fundamental grade | D | C |
| Superinvestors holding it | 2 | 2 |
| Insider purchases, last 12 months | 3 | 4 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Hormel Foods
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $11.4B | $770M | 9.9% |
| 2022 | $12.5B | $856M | 10.5% |
| 2023 | $12.1B | $778M | 8.9% |
| 2024 | $11.9B | $1.0B | 9.0% |
| 2025 | $12.1B | $534M | 5.9% |
McCormick & Company
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $6.3B | $550M | 16.1% |
| 2022 | $6.4B | $390M | 13.6% |
| 2023 | $6.7B | $973M | 14.5% |
| 2024 | $6.7B | $647M | 15.8% |
| 2025 | $6.8B | $740M | 15.7% |
Where the revenue comes from
Hormel Foods · by segments, 2025
Retail$7.5B62%
Foodservice$3.9B33%
International$709M6%
McCormick & Company · by segments, 2025
Consumer$4.0B58%
Flavor Solutions$2.9B42%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open HRL in InvestinglyQuestions
Which is bigger, Hormel Foods or McCormick & Company?
McCormick & Company (MKC), at $12.5B against $10.8B.
Is HRL or MKC cheaper?
By trailing P/E, McCormick & Company (7.61x) is cheaper than Hormel Foods (22.1x). A lower multiple can also mean the market expects less growth.
Which grows faster, HRL or MKC?
McCormick & Company: revenue grew +17.4% over the last year, against -2.4%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.