KO vs MKC: how the two businesses compare

  • Bigger business: KO, with $47.9B of yearly revenue, about 7.0× MKC's $6.8B.
  • More profitable: KO keeps 27 cents of each sales dollar as profit, against 12 cents at MKC.
  • More cash from each sale: KO turns 15 cents of each sales dollar into operating cash flow, against 14 cents at MKC.

From each company's latest annual SEC filing. Fiscal years can end on different dates.

Coca-Cola (KO) is the larger business by reported revenue: $47.9B in its fiscal year ended Dec 2025, about 7.0× MKC's $6.8B (fiscal year ended Nov 2025). KO's net margin was 27.3% and MKC's 11.5%. The SEC places them in related industries (Beverages; Miscellaneous Food Preparations & Kindred Products), and both map to the International markets research theme.

Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.

Sector
Consumer Staples
SEC industry
Different
Separate classifications
Fiscal year ends
Different
KO December 31 · MKC November 30
Reviewed
Feb 20, 2026

KO vs MKC: quick comparison

Company factKOMKC
CompanyThe Coca-Cola CompanyMcCormick & Company, Incorporated
ExchangeNYSENYSE
HeadquartersAtlanta, Georgia—
Founded1886—
SEC industryBeveragesMiscellaneous Food Preparations & Kindred Products
Fiscal year-endDecember 31November 30
Latest annual filing10-K · 2026-02-2010-K · 2026-01-22

KO vs MKC: audited financials

  • Scale: KO's $47.9B of revenue is about 7.0× MKC's $6.8B.
  • Net margin: KO kept 27.3% of revenue as net income versus 11.5% at MKC.
  • Cash conversion: operating cash flow equalled KO 15.5% of revenue, or 0.57× net income; MKC 14.1% of revenue, or 1.22× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
  • Periods: the fiscal years end about 1 month apart (2025-12-31 for KO, 2025-11-30 for MKC), so each figure reflects somewhat different demand and cost conditions.

KO: FY ending 2025-12-31 · MKC: FY ending 2025-11-30. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.

Where KO and MKC overlap, and where they don't

Overlap

  • Related SEC industries: both sit in SIC major group 20.
  • Shared research theme: International markets.

Differences

  • Different four-digit SIC codes: KO is 2080 (Beverages); MKC is 2090 (Miscellaneous Food Preparations & Kindred Products).
  • Offset fiscal calendars: KO's year ends December 31 and MKC's November 30, about 1 month apart.
  • Scale: KO reported about 7.0× the annual revenue of MKC.
  • Profitability: net margin of 27.3% for KO versus 11.5% for MKC.

Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.

The Coca-Cola Company (KO)

Coca-Cola is the world's largest nonalcoholic beverage company, selling sparkling drinks, water, juice, and coffee through a global bottling network. Its brand strength and international reach make it a classic defensive holding.

McCormick & Company, Incorporated (MKC)

McCormick makes spices, seasonings, and flavorings for retail consumers and food manufacturers.

What moves each company

Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.

What moves KO

We have not yet published a company-specific driver list for KO. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-20.

What moves MKC

We have not yet published a company-specific driver list for MKC. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-01-22.

The investment question

You now know KO reports about 7.0× MKC's revenue, and KO keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about their exposure to international markets, and which evidence in the next filings would prove that assumption wrong.

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SEC filing comparison and disclosure evidence

Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. KO's fiscal year ends December 31, while MKC's ends November 30. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.

The current verified House and Senate snapshot contains 30 matched transaction rows for KO and 11 matched transaction rows for MKC. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.

What this comparison cannot tell you

This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.

A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.

KO vs MKC FAQs

Are KO and MKC direct competitors?

Not necessarily. Coca-Cola files as Beverages and McCormick as Miscellaneous Food Preparations & Kindred Products. The pair is compared because both map to the International markets research theme, not because the filings show head-to-head competition.

Is KO or MKC the bigger company by revenue?

Coca-Cola (KO) is the larger business by reported revenue: $47.9B in its fiscal year ended Dec 2025, about 7.0× MKC's $6.8B (fiscal year ended Nov 2025). KO's net margin was 27.3% and MKC's 11.5%. The SEC places them in related industries (Beverages; Miscellaneous Food Preparations & Kindred Products), and both map to the International markets research theme. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.

Which is better, KO or MKC?

There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.

Does this KO vs MKC comparison include live prices?

No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers The Coca-Cola Company and McCormick & Company, Incorporated tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.

Where does the company information come from?

Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.

Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.

Which business differences matter to the investment thesis?

KO vs MKC compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.

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