McDonald's (MCD) Financials

$319.63 -1.60 (-0.50%)

As of 03:58 PM Eastern

Annual Income Statements for McDonald's

This table shows McDonald's' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	8,223	8,469	6,177	7,545	4,731	6,025	5,924	5,192	4,687	4,529
Consolidated Net Income / (Loss)	8,223	8,469	6,177	7,545	4,731	6,025	5,924	5,192	4,687	4,529
Net Income / (Loss) Continuing Operations	8,224	8,469	6,177	7,545	4,731	6,025	5,924	5,192	4,687	4,529
Total Pre-Tax Income	10,345	10,522	7,825	9,128	6,141	8,018	7,816	8,574	6,866	6,556
Total Operating Income	11,712	11,647	9,371	10,356	7,324	9,070	8,823	9,553	7,745	7,146
Total Gross Profit	20,389	19,980	18,096	17,791	14,436	16,184	13,193	14,149	18,007	18,214
Total Revenue	25,920	25,494	23,183	23,223	19,208	21,364	21,258	22,820	24,622	25,413
Operating Revenue	25,497	25,179	22,854	22,873	18,865	21,077	21,025	22,820	24,622	25,413
Other Revenue	423	316	328	350	343	288	233	-	-	-
Total Cost of Revenue	5,531	5,514	5,087	5,432	4,772	5,181	8,065	8,671	6,615	7,199
Operating Cost of Revenue	5,531	5,514	5,087	5,432	4,772	5,181	8,065	8,671	6,615	7,199
Total Operating Expenses	8,677	8,333	8,724	7,435	7,112	7,114	4,370	4,597	10,262	11,068
Selling, General & Admin Expense	8,091	7,852	7,380	7,589	6,929	6,971	4,346	5,760	10,186	10,859
Depreciation Expense	447	382	370	330	301	263	215	-	-	-
Other Operating Expenses / (Income)	139	99	974	-483	-118	-120	-190	-1,163	76	209
Total Other Income / (Expense), net	-1,367	-1,125	-1,546	-1,228	-1,183	-1,052	-1,007	-979	-879	-590
Interest Expense	1,506	1,361	1,207	1,186	1,218	1,122	981	921	885	638
Other Income / (Expense), net	139	236	-339	-42	35	70	-25	-58	6.30	49
Income Tax Expense	2,121	2,053	1,648	1,583	1,410	1,993	1,892	3,381	2,180	2,026
Basic Earnings per Share	$11.45	$11.63	$8.39	$10.11	$6.35	$7.95	$7.61	$6.43	$5.49	$4.82
Weighted Average Basic Shares Outstanding	718.30M	727.90M	736.50M	746.30M	744.60M	758.10M	778.20M	807.40M	854.40M	939.40M
Diluted Earnings per Share	$11.39	$11.56	$8.33	$10.04	$6.31	$7.88	$7.54	$6.37	$5.44	$4.80
Weighted Average Diluted Shares Outstanding	721.90M	732.30M	741.30M	751.80M	750.10M	764.90M	785.60M	815.50M	861.20M	944.60M
Weighted Average Basic & Diluted Shares Outstanding	714.46M	722.05M	731.50M	743.58M	745.57M	745.45M	778.50M	807.50M	853.60M	939.70M
Cash Dividends to Common per Share	$6.78	$6.23	$5.66	$5.25	$5.04	$4.73	$4.19	$3.83	$3.61	$3.44

This table shows McDonald's' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	1,820	2,255	2,219	1,929	1,937	2,317	2,155	2,060	1,903	1,982
Consolidated Net Income / (Loss)	2,017	2,255	2,022	1,929	2,040	2,317	2,310	1,802	1,903	1,982
Net Income / (Loss) Continuing Operations	1,820	2,255	2,219	1,930	1,936	2,318	2,155	2,060	1,903	1,982
Total Pre-Tax Income	2,538	2,843	2,555	2,409	2,514	2,924	2,817	2,267	2,339	2,536
Total Operating Income	2,868	3,188	2,920	2,736	2,803	3,208	3,104	2,532	2,583	2,764
Total Gross Profit	9,116	3,979	3,787	3,507	8,882	3,932	3,789	3,377	8,110	3,504
Total Revenue	6,388	6,873	6,490	6,169	6,406	6,692	6,498	5,898	5,927	5,872
Operating Revenue	6,268	6,750	6,401	6,078	6,344	6,603	6,420	5,812	5,853	5,796
Other Revenue	119	124	89	91	64	89	77	86	73	76
Total Cost of Revenue	-2,728	2,894	2,703	2,662	-2,476	2,760	2,709	2,521	-2,183	2,369
Operating Cost of Revenue	-2,728	2,894	2,703	2,662	-2,476	2,760	2,709	2,521	-2,183	2,369
Total Operating Expenses	6,462	790	653	772	6,268	724	755	586	5,526	740
Selling, General & Admin Expense	6,102	640	659	690	5,960	652	624	616	5,421	634
Depreciation Expense	136	111	101	99	91	97	95	99	91	93
Other Operating Expenses / (Income)	10	39	107	-17	31	-25	-36	129	15	13
Total Other Income / (Expense), net	-313	-345	-382	-327	-201	-285	-373	-266	-244	-228
Interest Expense	380	381	373	372	360	341	330	330	323	306
Other Income / (Expense), net	49	36	9.00	45	73	56	43	64	79	79
Income Tax Expense	521	588	533	479	476	606	506	465	436	555
Basic Earnings per Share	$2.82	$3.15	$2.81	$2.67	$2.80	$3.19	$3.17	$2.47	$2.59	$2.70
Weighted Average Basic Shares Outstanding	718.30M	716.70M	718.80M	721.80M	727.90M	727.20M	729.60M	730.90M	736.50M	734.90M
Diluted Earnings per Share	$2.80	$3.13	$2.80	$2.66	$2.79	$3.17	$3.15	$2.45	$2.57	$2.68
Weighted Average Diluted Shares Outstanding	721.90M	720M	722M	725.90M	732.30M	731.60M	734.30M	735.50M	741.30M	739.50M
Weighted Average Basic & Diluted Shares Outstanding	714.46M	716.62M	717.34M	720.68M	722.05M	725.34M	728.76M	730.09M	731.50M	732.42M

This table details how cash moves in and out of McDonald's' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-3,494	1,996	-2,126	1,260	2,551	33	-1,598	1,066	-6,288	5,608
Net Cash From Operating Activities	9,447	9,612	7,387	9,142	6,265	8,122	6,967	5,551	6,060	6,539
Net Cash From Continuing Operating Activities	9,446	9,612	7,387	9,142	6,265	8,122	6,967	5,551	6,060	6,539
Net Income / (Loss) Continuing Operations	8,223	8,469	6,177	7,545	4,731	6,025	5,924	5,192	4,687	4,529
Consolidated Net Income / (Loss)	8,223	8,469	6,177	7,545	4,731	6,025	5,924	5,192	4,687	4,529
Depreciation Expense	2,097	1,978	1,871	1,868	1,751	1,618	1,482	1,363	1,517	1,556
Non-Cash Adjustments To Reconcile Net Income	138	-41	330	-298	-11	31	-70	12	228	288
Changes in Operating Assets and Liabilities, net	-1,012	-794	-991	26	-206	448	-370	-1,017	-372	167
Net Cash From Investing Activities	-5,346	-3,185	-2,678	-2,166	-1,546	-3,071	-2,455	562	-982	-1,420
Net Cash From Continuing Investing Activities	-5,346	-3,184	-2,678	-2,166	-1,546	-3,071	-2,455	562	-982	-1,420
Purchase of Property, Plant & Equipment	-3,444	-2,798	-2,706	-2,414	-1,707	-2,935	-2,843	-1,931	-1,931	-1,955
Acquisitions	-1,837	0.00	0.00	-	-	-	-	-	-	-
Sale of Property, Plant & Equipment	433	290	485	302	104	492	691	1,142	1,059	554
Other Investing Activities, net	-498	-676	-457	-54	57	-629	-303	-246	-110	-20
Net Cash From Financing Activities	-7,495	-4,374	-6,580	-5,596	-2,249	-4,995	-5,950	-5,311	-11,262	735
Net Cash From Continuing Financing Activities	-7,493	-4,374	-6,580	-5,596	-2,249	-4,995	-5,950	-5,311	-11,262	735
Repayment of Debt	-2,833	-2,481	-2,138	-2,272	-2,534	-1,286	-1,780	-2,720	-826	-1,113
Repurchase of Common Equity	-2,824	-3,054	-3,896	-846	-908	-4,976	-5,208	-4,686	-11,171	-6,099
Payment of Dividends	-4,870	-4,533	-4,168	-3,919	-3,753	-3,582	-3,256	-3,089	-3,058	-3,230
Issuance of Debt	2,706	5,434	3,374	1,154	4,650	4,499	3,890	4,728	3,493	10,810
Other Financing Activities, net	328	260	248	286	296	351	403	457	299	368
Effect of Exchange Rate Changes	-101	-58	-254	-120	80	-24	-160	264	-104	-247
Cash Interest Paid	1,523	1,287	1,184	1,197	1,136	1,067	960	885	874	641
Cash Income Taxes Paid	2,974	2,993	3,024	2,404	1,442	1,590	1,734	2,786	2,388	1,985

This table details how cash moves in and out of McDonald's' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-136	429	-45	-3,742	1,083	1,871	-2,082	1,124	-245	956
Net Cash From Operating Activities	2,631	2,737	1,689	2,390	2,489	3,029	1,674	2,420	2,202	2,434
Net Cash From Continuing Operating Activities	2,630	2,737	1,689	2,390	2,489	3,029	1,674	2,420	2,202	2,434
Net Income / (Loss) Continuing Operations	2,016	2,256	2,022	1,929	2,039	2,317	2,311	1,802	1,903	1,982
Consolidated Net Income / (Loss)	2,016	2,256	2,022	1,929	2,039	2,317	2,311	1,802	1,903	1,982
Depreciation Expense	553	532	502	510	497	498	493	490	464	466
Non-Cash Adjustments To Reconcile Net Income	58	7.00	54	19	4.00	-63	-1.00	19	-62	-7.30
Changes in Operating Assets and Liabilities, net	3.00	-58	-889	-68	-51	277	-1,129	109	-103	-6.00
Net Cash From Investing Activities	-742	-1,266	-845	-2,493	-840	-933	-671	-741	-1,071	-733
Net Cash From Continuing Investing Activities	-742	-1,266	-2,717	-621	-839	-933	-671	-741	-1,071	-733
Purchase of Property, Plant & Equipment	-881	-1,227	-789	-547	-894	-662	-641	-601	-986	-684
Sale of Property, Plant & Equipment	245	64	74	50	159	29	63	39	61	44
Other Investing Activities, net	-106	-103	-165	-124	-104	-300	-93	-179	-146	-94
Net Cash From Financing Activities	-1,878	-1,087	-869	-3,661	-586	-136	-3,094	-558	-1,517	-546
Net Cash From Continuing Financing Activities	-1,876	-1,087	-869	-3,661	-586	-136	-3,094	-558	-1,517	-546
Repayment of Debt	-1,022	-27	-148	-1,636	-1,097	-41	-1,346	3.00	15	-236
Repurchase of Common Equity	-503	-469	-934	-918	-851	-1,055	-570	-578	-489	-869
Payment of Dividends	-1,268	-1,197	-1,199	-1,206	-1,208	-1,105	-1,109	-1,111	-1,111	-1,015
Issuance of Debt	842	474	1,390	0.00	2,521	2,003	-144	1,054	-11	1,511
Other Financing Activities, net	75	132	22	99	49	62	75	74	80	62
Effect of Exchange Rate Changes	-148	46	-20	21	-	-	-	3.00	142	-199

This table presents McDonald's' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	55,182	56,147	50,436	53,854	52,627	47,511	32,811	33,804	31,024	37,939
Total Current Assets	4,599	7,986	5,424	7,149	6,243	3,558	4,053	5,327	4,849	9,643
Cash & Equivalents	1,085	4,579	2,584	4,709	3,449	899	866	2,464	1,223	7,686
Note & Lease Receivable	2,383	2,488	2,115	1,872	2,110	2,224	2,442	1,976	1,474	1,299
Inventories, net	56	53	52	56	51	50	51	59	59	100
Prepaid Expenses	1,074	866	673	511	633	385	695	828	565	559
Plant, Property, & Equipment, net	25,295	24,908	23,774	24,721	24,958	24,160	22,843	22,448	21,258	23,118
Plant, Property & Equipment, gross	44,177	43,570	41,038	41,917	41,477	39,051	37,194	36,626	34,443	37,692
Accumulated Depreciation	18,882	18,662	17,264	17,196	16,518	14,891	14,351	14,178	13,186	14,575
Total Noncurrent Assets	25,289	23,252	21,238	21,985	21,425	19,793	5,915	6,028	4,918	5,178
Long-Term Investments	2,710	1,080	1,065	1,201	1,297	1,270	1,203	1,086	726	793
Goodwill	3,145	3,040	2,900	2,783	2,773	2,677	2,332	2,380	2,337	2,516
Other Noncurrent Operating Assets	19,434	19,132	17,273	18,002	17,355	15,845	2,381	2,563	1,855	1,869
Total Liabilities & Shareholders' Equity	55,182	56,147	50,436	53,854	52,627	47,511	32,811	33,804	31,024	37,939
Total Liabilities	31,932	33,362	56,439	58,455	60,452	55,721	39,070	37,072	33,228	30,851
Total Current Liabilities	3,861	6,859	3,802	4,020	6,181	3,621	2,974	2,891	3,468	2,950
Short-Term Debt	0.00	2,192	0.00	-	2,244	59	0.00	0.00	77	0.00
Accounts Payable	1,029	1,103	980	1,007	741	988	1,208	925	756	875
Accrued Expenses	1,129	1,434	1,237	1,347	1,138	1,036	987	1,146	1,159	1,379
Current Deferred & Payable Income Tax Liabilities	361	705	275	361	741	332	228	266	267	155
Other Taxes Payable	224	268	255	237	227	248	254	275	266	309
Other Current Liabilities	-636	-688	661	706	702	621	0.00	-	-	-
Other Current Nonoperating Liabilities	482	469	393	363	388	338	297	278	942	233
Total Noncurrent Liabilities	29,343	27,879	52,637	54,435	54,271	52,100	36,096	34,181	29,760	27,900
Long-Term Debt	38,424	37,153	35,904	35,623	35,197	34,118	31,075	29,536	25,879	24,122
Noncurrent Deferred Revenue	1,122	1,153	1,550	2,635	2,673	2,927	2,709	2,371	1,011	-
Noncurrent Deferred & Payable Income Tax Liabilities	1,914	1,681	1,998	2,076	2,026	1,318	1,216	1,119	1,817	1,704
Other Noncurrent Operating Liabilities	-12,117	-12,108	13,186	14,102	14,375	13,737	1,096	1,154	1,054	2,074
Total Equity & Noncontrolling Interests	-3,797	-4,707	-6,003	-4,601	-7,825	-8,210	-6,258	-3,268	-2,204	7,088
Total Preferred & Common Equity	-3,797	-4,707	-6,003	-4,601	-7,825	-8,210	-6,258	-3,268	-2,204	7,088
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-3,796	-4,706	-6,003	-4,601	-7,825	-8,210	-6,258	-3,268	-2,204	7,088
Common Stock	9,298	8,910	8,564	8,248	7,920	7,671	7,393	7,089	6,775	6,550
Retained Earnings	66,834	63,480	59,544	57,535	53,908	52,931	50,487	48,326	46,223	44,595
Treasury Stock	-77,375	-74,640	-71,624	-67,810	-67,066	-66,329	-61,529	-56,504	-52,109	-41,177
Accumulated Other Comprehensive Income / (Loss)	-2,553	-2,456	-2,487	-2,574	-2,587	-2,483	-2,610	-2,178	-3,093	-2,880

This table presents McDonald's' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	55,182	56,172	53,801	53,513	56,147	52,089	50,442	52,014	50,436	48,502
Total Current Assets	4,599	4,912	4,205	4,057	7,986	6,850	4,945	6,799	5,424	5,741
Cash & Equivalents	1,085	1,221	792	838	4,579	3,496	1,626	3,708	2,584	2,828
Note & Lease Receivable	2,383	2,460	2,404	2,238	2,488	2,247	2,194	2,076	2,115	1,890
Inventories, net	56	54	46	46	53	48	52	52	52	43
Prepaid Expenses	1,074	1,176	963	935	866	1,059	1,074	964	673	979
Plant, Property, & Equipment, net	25,295	25,775	24,811	24,682	24,908	23,924	24,102	23,859	23,774	22,698
Plant, Property & Equipment, gross	44,177	45,178	43,846	43,432	43,570	41,967	42,131	41,487	41,038	39,097
Accumulated Depreciation	18,882	19,403	19,035	18,750	18,662	18,043	18,030	17,629	17,264	16,399
Total Noncurrent Assets	25,289	25,485	24,785	24,774	23,252	21,315	21,395	21,357	21,238	20,063
Long-Term Investments	2,710	2,960	2,876	2,883	1,080	1,038	1,039	1,088	1,065	964
Goodwill	3,145	3,220	3,048	3,028	3,040	2,965	2,969	2,931	2,900	2,651
Other Noncurrent Operating Assets	19,434	19,305	18,861	18,863	19,132	17,312	17,388	17,339	17,273	16,447
Total Liabilities & Shareholders' Equity	55,182	56,172	53,801	53,513	56,147	52,089	50,442	52,014	50,436	48,502
Total Liabilities	31,932	61,350	58,625	58,346	33,362	56,944	55,441	57,791	56,439	55,068
Total Current Liabilities	3,861	6,308	3,910	4,886	6,859	4,003	3,674	4,625	3,802	3,486
Short-Term Debt	0.00	596	0.00	604	2,192	-	-	524	0.00	-
Accounts Payable	1,029	944	949	936	1,103	862	807	812	980	795
Accrued Expenses	1,129	1,353	1,142	1,136	1,434	1,348	1,207	1,187	1,237	1,128
Current Deferred & Payable Income Tax Liabilities	361	786	464	873	705	535	385	796	275	386
Other Taxes Payable	224	263	279	279	268	242	245	273	255	204
Other Current Liabilities	-636	668	655	685	-688	668	687	669	661	655
Other Current Nonoperating Liabilities	482	433	421	372	469	346	343	365	393	318
Total Noncurrent Liabilities	29,343	55,042	54,715	53,460	27,879	52,941	51,767	53,166	52,637	51,582
Long-Term Debt	38,424	38,990	38,524	36,764	37,153	37,275	35,710	36,604	35,904	34,866
Noncurrent Deferred Revenue	1,122	874	876	1,145	1,153	1,258	1,322	1,498	1,550	1,813
Noncurrent Deferred & Payable Income Tax Liabilities	1,914	1,166	1,610	1,796	1,681	1,617	1,620	1,883	1,998	2,145
Other Noncurrent Operating Liabilities	-12,117	14,012	13,705	13,755	-12,108	12,791	13,116	13,182	13,186	12,758
Total Equity & Noncontrolling Interests	-3,797	-5,177	-4,824	-4,833	-4,707	-4,855	-4,999	-5,776	-6,003	-6,566
Total Preferred & Common Equity	-3,797	-5,177	-4,824	-4,833	-4,707	-4,855	-4,999	-5,776	-6,003	-6,566
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-3,796	-5,177	-4,824	-4,832	-4,706	-4,855	-4,999	-5,776	-6,003	-6,566
Common Stock	9,298	9,211	9,072	9,018	8,910	8,841	8,752	8,652	8,564	8,477
Retained Earnings	66,834	64,819	65,026	64,203	63,480	62,649	61,437	60,235	59,544	58,752
Treasury Stock	-77,375	-76,870	-76,459	-75,520	-74,640	-73,799	-72,733	-72,174	-71,624	-71,235
Accumulated Other Comprehensive Income / (Loss)	-2,553	-2,337	-2,463	-2,533	-2,456	-2,546	-2,456	-2,489	-2,487	-2,560

This table displays calculated financial ratios and metrics derived from McDonald's' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.67%	9.97%	-0.17%	20.90%	-10.09%	0.50%	-6.85%	-7.32%	-3.11%	-7.39%
EBITDA Growth	0.63%	27.13%	-10.50%	33.72%	-15.32%	4.66%	-5.33%	17.17%	5.92%	-8.79%
EBIT Growth	-0.27%	31.57%	-12.43%	40.15%	-19.49%	3.90%	-7.35%	22.50%	7.74%	-9.49%
NOPAT Growth	-0.68%	26.73%	-13.59%	51.72%	-17.22%	1.92%	15.59%	9.44%	7.08%	-3.77%
Net Income Growth	-2.90%	37.11%	-18.13%	59.50%	-21.49%	1.71%	14.10%	10.79%	3.47%	-4.80%
EPS Growth	-1.47%	38.78%	-17.03%	59.11%	-19.92%	4.51%	18.37%	17.10%	13.33%	-0.41%
Operating Cash Flow Growth	-1.72%	30.12%	-19.19%	45.91%	-22.86%	16.58%	25.50%	-8.39%	-7.33%	-2.84%
Free Cash Flow Firm Growth	137.71%	-435.96%	-25.37%	84.57%	-21.04%	-13.77%	65.76%	-43.05%	1.76%	5.64%
Invested Capital Growth	2.50%	113.69%	4.60%	0.86%	4.65%	4.73%	0.21%	8.39%	-7.61%	-7.92%
Revenue Q/Q Growth	-0.07%	1.92%	-0.35%	3.09%	-0.59%	0.15%	0.26%	-2.93%	-1.25%	-0.90%
EBITDA Q/Q Growth	0.70%	1.82%	2.25%	2.37%	-1.30%	3.25%	-0.76%	1.19%	0.58%	1.44%
EBIT Q/Q Growth	0.35%	1.84%	2.94%	2.63%	-2.27%	3.44%	-1.29%	1.76%	0.84%	2.01%
NOPAT Q/Q Growth	0.08%	1.85%	3.44%	2.97%	-2.87%	2.46%	13.84%	-8.62%	0.53%	2.51%
Net Income Q/Q Growth	-0.28%	1.64%	4.47%	3.59%	-3.96%	2.67%	13.76%	-8.70%	-0.27%	2.46%
EPS Q/Q Growth	0.09%	1.94%	4.91%	3.51%	-3.66%	3.41%	14.24%	-8.08%	2.64%	3.90%
Operating Cash Flow Q/Q Growth	1.53%	3.08%	-5.92%	7.96%	1.68%	4.88%	6.13%	5.60%	-8.51%	-1.87%
Free Cash Flow Firm Q/Q Growth	40.58%	-460.77%	-18.50%	7.91%	8.88%	-7.23%	13.97%	-33.90%	13.72%	-1.85%
Invested Capital Q/Q Growth	82.81%	101.68%	7.33%	0.63%	2.12%	4.59%	1.99%	2.00%	-4.75%	-1.02%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	78.66%	78.37%	78.06%	76.61%	75.16%	75.75%	62.06%	62.00%	73.13%	71.67%
EBITDA Margin	53.81%	54.37%	47.03%	52.46%	47.43%	50.35%	48.36%	47.58%	37.64%	34.43%
Operating Margin	45.19%	45.69%	40.42%	44.59%	38.13%	42.45%	41.50%	41.86%	31.45%	28.12%
EBIT Margin	45.72%	46.61%	38.96%	44.41%	38.31%	42.78%	41.38%	41.61%	31.48%	28.31%
Profit (Net Income) Margin	31.72%	33.22%	26.64%	32.49%	24.63%	28.20%	27.87%	22.75%	19.03%	17.82%
Tax Burden Percent	79.49%	80.49%	78.94%	82.66%	77.04%	75.15%	75.80%	60.56%	68.26%	69.09%
Interest Burden Percent	87.29%	88.55%	86.64%	88.50%	83.45%	87.73%	88.85%	90.30%	88.58%	91.13%
Effective Tax Rate	20.50%	19.51%	21.06%	17.34%	22.96%	24.85%	24.20%	39.44%	31.74%	30.91%
Return on Invested Capital (ROIC)	16.15%	22.43%	28.39%	33.75%	22.85%	28.89%	29.05%	26.17%	23.93%	20.61%
ROIC Less NNEP Spread (ROIC-NNEP)	14.39%	20.51%	24.49%	30.53%	20.06%	26.33%	26.30%	23.78%	20.88%	17.70%
Return on Net Nonoperating Assets (RNNOA)	-209.54%	-180.58%	-144.89%	-155.19%	-81.85%	-112.18%	-153.42%	-215.94%	168.00%	24.82%
Return on Equity (ROE)	-193.39%	-158.15%	-116.50%	-121.44%	-59.00%	-83.29%	-124.38%	-189.77%	191.93%	45.43%
Cash Return on Invested Capital (CROIC)	13.68%	-50.06%	23.89%	32.89%	18.30%	24.27%	28.84%	18.12%	31.84%	28.86%
Operating Return on Assets (OROA)	21.29%	22.30%	17.32%	19.37%	14.70%	22.76%	26.41%	29.29%	22.48%	19.94%
Return on Assets (ROA)	14.77%	15.89%	11.85%	14.17%	9.45%	15.00%	17.79%	16.02%	13.59%	12.55%
Return on Common Equity (ROCE)	-193.35%	-158.13%	-116.50%	-121.44%	-59.00%	-83.29%	-124.38%	-189.77%	191.93%	45.43%
Return on Equity Simple (ROE_SIMPLE)	-216.57%	-179.92%	-102.89%	-163.99%	-60.45%	-73.39%	-94.66%	-158.88%	-212.61%	63.90%
Net Operating Profit after Tax (NOPAT)	9,311	9,374	7,397	8,560	5,642	6,816	6,687	5,785	5,286	4,937
NOPAT Margin	35.92%	36.77%	31.91%	36.86%	29.37%	31.90%	31.46%	25.35%	21.47%	19.43%
Net Nonoperating Expense Percent (NNEP)	1.76%	1.92%	3.89%	3.21%	2.79%	2.56%	2.75%	2.39%	3.05%	2.91%
Return On Investment Capital (ROIC_SIMPLE)	26.89%	27.06%	24.74%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	21.34%	21.63%	21.94%	23.39%	24.84%	24.25%	37.94%	38.00%	26.87%	28.33%
SG&A Expenses to Revenue	31.22%	30.80%	31.83%	32.68%	36.07%	32.63%	20.44%	25.24%	41.37%	42.73%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	33.48%	32.69%	37.63%	32.02%	37.03%	33.30%	20.56%	20.14%	41.68%	43.55%
Earnings before Interest and Taxes (EBIT)	11,851	11,883	9,032	10,314	7,359	9,140	8,797	9,495	7,751	7,194
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	13,948	13,861	10,903	12,182	9,110	10,758	10,279	10,858	9,267	8,750
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	12.28
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	19.03
Price to Revenue (P/Rev)	8.01	8.24	7.95	8.05	7.60	6.20	5.60	5.10	3.39	3.42
Price to Earnings (P/E)	25.26	24.79	29.83	24.79	30.86	22.00	20.10	22.42	17.84	19.21
Dividend Yield	2.34%	2.15%	2.25%	2.10%	2.57%	2.69%	2.71%	2.62%	3.59%	3.63%
Earnings Yield	3.96%	4.03%	3.35%	4.03%	3.24%	4.55%	4.98%	4.46%	5.61%	5.21%
Enterprise Value to Invested Capital (EV/IC)	4.15	4.28	8.13	8.51	7.07	6.82	6.42	6.19	5.07	4.47
Enterprise Value to Revenue (EV/Rev)	9.35	9.56	9.34	9.33	9.30	7.70	6.96	6.24	4.37	4.04
Enterprise Value to EBITDA (EV/EBITDA)	17.38	17.58	19.86	17.79	19.61	15.30	14.40	13.11	11.61	11.73
Enterprise Value to EBIT (EV/EBIT)	20.45	20.51	23.97	21.02	24.28	18.00	16.83	14.99	13.88	14.27
Enterprise Value to NOPAT (EV/NOPAT)	26.03	25.99	29.27	25.32	31.66	24.14	22.14	24.61	20.35	20.79
Enterprise Value to Operating Cash Flow (EV/OCF)	25.66	25.35	29.31	23.71	28.52	20.26	21.25	25.65	17.76	15.70
Enterprise Value to Free Cash Flow (EV/FCFF)	30.72	0.00	34.77	25.98	39.52	28.74	22.30	35.54	15.30	14.85
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-10.12	-8.36	-5.98	-7.74	-4.78	-4.16	-4.97	-9.04	-11.78	3.40
Long-Term Debt to Equity	-10.12	-7.89	-5.98	-7.74	-4.50	-4.16	-4.97	-9.04	-11.74	3.40
Financial Leverage	-14.56	-8.80	-5.91	-5.08	-4.08	-4.26	-5.83	-9.08	8.05	1.40
Leverage Ratio	-13.09	-9.95	-9.83	-8.57	-6.24	-5.55	-6.99	-11.85	14.12	3.62
Compound Leverage Factor	-11.43	-8.81	-8.52	-7.58	-5.21	-4.87	-6.21	-10.70	12.51	3.30
Debt to Total Capital	110.97%	113.59%	120.08%	114.83%	126.42%	131.62%	125.22%	112.44%	109.28%	77.29%
Short-Term Debt to Total Capital	0.00%	6.33%	0.00%	0.00%	7.58%	0.23%	0.00%	0.00%	0.33%	0.00%
Long-Term Debt to Total Capital	110.97%	107.26%	120.08%	114.83%	118.85%	131.39%	125.22%	112.44%	108.96%	77.29%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-10.96%	-13.59%	-20.08%	-14.83%	-26.42%	-31.62%	-25.22%	-12.44%	-9.28%	22.71%
Debt to EBITDA	2.75	2.84	3.29	2.92	4.11	3.18	3.02	2.72	2.80	2.76
Net Debt to EBITDA	2.48	2.43	2.96	2.44	3.59	2.98	2.82	2.39	2.59	1.79
Long-Term Debt to EBITDA	2.75	2.68	3.29	2.92	3.86	3.17	3.02	2.72	2.79	2.76
Debt to NOPAT	4.13	4.20	4.85	4.16	6.64	5.01	4.65	5.11	4.91	4.89
Net Debt to NOPAT	3.72	3.59	4.36	3.47	5.79	4.70	4.34	4.49	4.54	3.17
Long-Term Debt to NOPAT	4.13	3.96	4.85	4.16	6.24	5.01	4.65	5.11	4.90	4.89
Altman Z-Score	6.79	6.54	4.70	4.55	3.71	4.07	5.55	5.57	5.27	4.85
Noncontrolling Interest Sharing Ratio	0.02%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.19	1.16	1.43	1.78	1.01	0.98	1.36	1.84	1.40	3.27
Quick Ratio	0.90	1.03	1.24	1.64	0.90	0.86	1.11	1.54	0.78	3.05
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	7,889	-20,919	6,227	8,343	4,520	5,725	6,639	4,005	7,034	6,912
Operating Cash Flow to CapEx	313.75%	383.25%	332.60%	432.88%	390.79%	332.52%	323.70%	703.49%	694.83%	466.98%
Free Cash Flow to Firm to Interest Expense	5.24	-15.37	5.16	7.04	3.71	5.10	6.77	4.35	7.95	10.83
Operating Cash Flow to Interest Expense	6.27	7.06	6.12	7.71	5.14	7.24	7.10	6.03	6.85	10.24
Operating Cash Flow Less CapEx to Interest Expense	4.27	5.22	4.28	5.93	3.83	5.06	4.91	5.17	5.86	8.05
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.47	0.48	0.44	0.44	0.38	0.53	0.64	0.70	0.71	0.70
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	101.49	105.03	94.55	101.81	94.21	102.29	146.77	147.34	83.21	68.53
Fixed Asset Turnover	1.03	1.05	0.96	0.93	0.78	0.91	0.94	1.04	1.11	1.07
Accounts Payable Turnover	5.19	5.29	5.12	6.21	5.52	4.72	7.56	10.32	8.11	8.30
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	3.60	3.48	3.86	3.59	3.87	3.57	2.49	2.48	4.39	5.33
Days Payable Outstanding (DPO)	70.35	68.95	71.29	58.73	66.15	77.36	48.26	35.38	44.99	43.98
Cash Conversion Cycle (CCC)	-66.75	-65.47	-67.42	-55.15	-62.27	-73.79	-45.77	-32.90	-40.60	-38.65
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	58,361	56,939	26,645	25,475	25,258	24,136	23,045	22,997	21,217	22,965
Invested Capital Turnover	0.45	0.61	0.89	0.92	0.78	0.91	0.92	1.03	1.11	1.06
Increase / (Decrease) in Invested Capital	1,422	30,294	1,171	217	1,122	1,091	48	1,780	-1,748	-1,976
Enterprise Value (EV)	242,370	243,669	216,532	216,768	178,655	164,559	148,060	142,372	107,592	102,657
Market Capitalization	207,741	209,983	184,277	187,055	145,961	132,551	119,053	116,385	83,585	87,013
Book Value per Share	($5.30)	($6.49)	($8.20)	($6.16)	($10.50)	($10.90)	($8.12)	($4.10)	($2.65)	$7.72
Tangible Book Value per Share	($9.69)	($10.68)	($12.16)	($9.88)	($14.22)	($14.46)	($11.14)	($7.08)	($5.47)	$4.98
Total Capital	34,627	34,638	29,900	31,022	29,616	25,967	24,817	26,268	23,751	31,210
Total Debt	38,424	39,345	35,904	35,623	37,440	34,177	31,075	29,536	25,956	24,122
Total Long-Term Debt	38,424	37,153	35,904	35,623	35,197	34,118	31,075	29,536	25,879	24,122
Net Debt	34,629	33,686	32,255	29,712	32,694	32,008	29,007	25,987	24,006	15,644
Capital Expenditures (CapEx)	3,011	2,508	2,221	2,112	1,603	2,443	2,152	789	872	1,400
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-347	-1,260	-962	-1,581	-1,144	-903	214	-27	234	-993
Debt-free Net Working Capital (DFNWC)	738	3,319	1,622	3,129	2,306	-4.00	1,080	2,437	1,458	6,693
Net Working Capital (NWC)	738	1,127	1,622	3,129	62	-63	1,080	2,437	1,380	6,693
Net Nonoperating Expense (NNE)	1,088	905	1,220	1,015	912	790	763	593	600	407
Net Nonoperating Obligations (NNO)	62,158	61,646	32,649	30,076	33,083	32,346	29,304	26,265	23,422	15,877
Total Depreciation and Amortization (D&A)	2,097	1,978	1,871	1,868	1,751	1,618	1,482	1,363	1,517	1,556
Debt-free, Cash-free Net Working Capital to Revenue	-1.34%	-4.94%	-4.15%	-6.81%	-5.95%	-4.22%	1.01%	-0.12%	0.95%	-3.91%
Debt-free Net Working Capital to Revenue	2.85%	13.02%	7.00%	13.47%	12.00%	-0.02%	5.08%	10.68%	5.92%	26.34%
Net Working Capital to Revenue	2.85%	4.42%	7.00%	13.47%	0.32%	-0.30%	5.08%	10.68%	5.61%	26.34%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$11.45	$11.63	$8.39	$10.11	$6.35	$7.95	$7.61	$6.43	$5.49	$4.82
Adjusted Weighted Average Basic Shares Outstanding	718.30M	727.90M	736.50M	746.30M	744.60M	758.10M	778.20M	807.40M	854.40M	939.40M
Adjusted Diluted Earnings per Share	$11.39	$11.56	$8.33	$10.04	$6.31	$7.88	$7.54	$6.37	$5.44	$4.80
Adjusted Weighted Average Diluted Shares Outstanding	721.90M	732.30M	741.30M	751.80M	750.10M	764.90M	785.60M	815.50M	861.20M	944.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	714.46M	722.05M	731.50M	743.58M	745.57M	745.45M	765.32M	794.50M	818.99M	901.61M
Normalized Net Operating Profit after Tax (NOPAT)	9,311	9,374	7,397	8,560	5,642	6,816	6,687	5,785	5,286	4,937
Normalized NOPAT Margin	35.92%	36.77%	31.91%	36.86%	29.37%	31.90%	31.46%	25.35%	21.47%	19.43%
Pre Tax Income Margin	39.91%	41.27%	33.75%	39.31%	31.97%	37.53%	36.77%	37.57%	27.89%	25.80%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.87	8.73	7.48	8.70	6.04	8.15	8.97	10.31	8.76	11.27
NOPAT to Interest Expense	6.18	6.89	6.13	7.22	4.63	6.08	6.82	6.28	5.97	7.73
EBIT Less CapEx to Interest Expense	5.87	6.89	5.64	6.92	4.73	5.97	6.77	9.45	7.77	9.08
NOPAT Less CapEx to Interest Expense	4.18	5.05	4.29	5.44	3.32	3.90	4.62	5.42	4.99	5.54
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	59.22%	53.52%	67.48%	51.94%	79.33%	59.45%	54.96%	59.50%	65.26%	71.32%
Augmented Payout Ratio	93.57%	89.59%	130.55%	63.14%	98.52%	142.03%	142.86%	149.74%	303.62%	205.98%

This table displays calculated financial ratios and metrics derived from McDonald's' official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.28%	2.70%	-0.12%	4.59%	8.08%	13.96%	13.63%	4.10%	-1.37%	-5.31%
EBITDA Growth	2.88%	-0.16%	-5.74%	6.64%	7.94%	13.72%	68.37%	33.70%	8.32%	-4.24%
EBIT Growth	1.43%	-1.23%	-6.93%	7.13%	8.06%	14.83%	85.15%	41.97%	10.73%	-4.78%
NOPAT Growth	0.31%	-0.57%	-9.25%	8.91%	8.12%	17.76%	76.44%	21.45%	12.77%	-9.48%
Net Income Growth	-1.13%	-2.68%	-12.47%	7.05%	7.20%	16.93%	94.44%	63.17%	16.12%	-7.83%
EPS Growth	0.36%	-1.26%	-11.11%	8.57%	8.56%	18.28%	96.88%	65.54%	17.89%	-6.29%
Operating Cash Flow Growth	5.71%	-9.64%	0.90%	-1.24%	13.05%	24.45%	170.83%	13.44%	-17.43%	-7.03%
Free Cash Flow Firm Growth	103.06%	-34.87%	191.59%	26.09%	-3,109.43%	-132.57%	-117.28%	-106.98%	-43.46%	46.85%
Invested Capital Growth	2.50%	13.08%	7.27%	8.42%	113.69%	13.72%	11.01%	8.52%	4.60%	-1.93%
Revenue Q/Q Growth	-7.06%	5.90%	5.20%	-3.70%	-4.27%	2.99%	10.17%	-0.48%	0.93%	2.69%
EBITDA Q/Q Growth	-7.61%	9.47%	4.25%	-2.44%	-10.34%	3.35%	17.95%	-1.24%	-5.54%	53.01%
EBIT Q/Q Growth	-9.52%	10.07%	5.32%	-3.30%	-11.89%	3.72%	21.23%	-2.47%	-6.37%	67.23%
NOPAT Q/Q Growth	-9.86%	9.42%	5.42%	-3.51%	-10.65%	-0.13%	26.52%	-4.24%	-2.68%	49.63%
Net Income Q/Q Growth	-10.55%	11.52%	4.82%	-5.43%	-11.96%	0.30%	28.19%	-5.33%	-3.97%	66.80%
EPS Q/Q Growth	-10.54%	11.79%	5.26%	-4.66%	-11.99%	0.63%	28.57%	-4.67%	-4.10%	67.50%
Operating Cash Flow Q/Q Growth	-3.87%	62.05%	-29.33%	-3.97%	-17.83%	80.94%	-30.83%	9.93%	-9.54%	293.77%
Free Cash Flow Firm Q/Q Growth	173.69%	-570.50%	432.69%	85.98%	-3,148.65%	-219.52%	-168.46%	-110.80%	-64.84%	69.52%
Invested Capital Q/Q Growth	82.81%	4.83%	4.34%	-0.88%	101.68%	-0.55%	5.46%	1.03%	7.33%	-2.92%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	142.71%	57.89%	58.35%	56.85%	138.65%	58.76%	58.31%	57.26%	136.84%	59.66%
EBITDA Margin	54.32%	54.65%	52.87%	53.35%	52.65%	56.22%	56.02%	52.32%	52.72%	56.33%
Operating Margin	44.90%	46.38%	44.99%	44.35%	43.76%	47.94%	47.77%	42.93%	43.58%	47.07%
EBIT Margin	45.66%	46.91%	45.13%	45.08%	44.90%	48.77%	48.43%	44.01%	44.90%	48.41%
Profit (Net Income) Margin	31.57%	32.81%	31.16%	31.27%	31.85%	34.62%	35.55%	30.55%	32.11%	33.75%
Tax Burden Percent	79.47%	79.32%	79.14%	80.07%	81.15%	79.24%	82.00%	79.49%	81.38%	78.13%
Interest Burden Percent	87.01%	88.18%	87.23%	86.62%	87.41%	89.58%	89.51%	87.33%	87.87%	89.23%
Effective Tax Rate	20.53%	20.68%	20.86%	19.88%	18.93%	20.73%	17.96%	20.51%	18.62%	21.87%
Return on Invested Capital (ROIC)	16.04%	31.73%	31.17%	32.63%	21.64%	35.83%	35.14%	30.89%	31.55%	34.13%
ROIC Less NNEP Spread (ROIC-NNEP)	15.62%	30.95%	30.33%	31.84%	21.15%	35.13%	34.42%	30.23%	30.91%	33.56%
Return on Net Nonoperating Assets (RNNOA)	-227.38%	-216.52%	-212.01%	-200.26%	-186.16%	-198.34%	-197.78%	-163.12%	-182.84%	-171.01%
Return on Equity (ROE)	-211.34%	-184.79%	-180.84%	-167.63%	-164.53%	-162.51%	-162.64%	-132.23%	-151.30%	-136.88%
Cash Return on Invested Capital (CROIC)	13.68%	18.66%	24.66%	25.98%	-50.06%	21.86%	22.25%	21.64%	23.89%	30.48%
Operating Return on Assets (OROA)	21.26%	22.48%	22.30%	22.01%	21.48%	24.26%	23.51%	20.03%	19.96%	22.25%
Return on Assets (ROA)	14.70%	15.72%	15.40%	15.27%	15.23%	17.22%	17.26%	13.91%	14.27%	15.51%
Return on Common Equity (ROCE)	-211.29%	-184.79%	-180.84%	-167.61%	-164.51%	-162.51%	-162.64%	-132.23%	-151.30%	-136.88%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-159.28%	-172.22%	-177.86%	0.00%	-171.63%	-159.97%	-119.02%	0.00%	-90.05%
Net Operating Profit after Tax (NOPAT)	2,279	2,529	2,311	2,192	2,272	2,543	2,546	2,013	2,102	2,160
NOPAT Margin	35.68%	36.79%	35.61%	35.53%	35.47%	38.00%	39.19%	34.12%	35.46%	36.78%
Net Nonoperating Expense Percent (NNEP)	0.42%	0.78%	0.84%	0.79%	0.49%	0.70%	0.72%	0.66%	0.63%	0.57%
Return On Investment Capital (ROIC_SIMPLE)	6.58%	-	-	-	6.56%	-	-	-	7.03%	-
Cost of Revenue to Revenue	-42.71%	42.11%	41.65%	43.15%	-38.65%	41.24%	41.69%	42.74%	-36.84%	40.34%
SG&A Expenses to Revenue	95.52%	9.31%	10.15%	11.19%	93.04%	9.74%	9.60%	10.44%	91.46%	10.79%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	101.16%	11.49%	10.06%	12.51%	97.85%	10.82%	11.62%	9.94%	93.24%	12.60%
Earnings before Interest and Taxes (EBIT)	2,917	3,224	2,929	2,781	2,876	3,264	3,147	2,596	2,661	2,842
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,470	3,756	3,431	3,291	3,373	3,762	3,640	3,086	3,125	3,308
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	8.01	8.37	7.05	7.79	8.24	7.45	8.69	8.39	7.95	6.93
Price to Earnings (P/E)	25.26	26.04	21.60	24.08	24.79	22.09	25.96	27.53	29.83	27.26
Dividend Yield	2.34%	2.21%	2.59%	2.30%	2.15%	2.38%	2.06%	2.16%	2.25%	2.52%
Earnings Yield	3.96%	3.84%	4.63%	4.15%	4.03%	4.53%	3.85%	3.63%	3.35%	3.67%
Enterprise Value to Invested Capital (EV/IC)	4.15	7.91	7.10	8.03	4.28	7.76	8.57	8.50	8.13	7.74
Enterprise Value to Revenue (EV/Rev)	9.35	9.74	8.40	9.10	9.56	8.76	10.06	9.77	9.34	8.26
Enterprise Value to EBITDA (EV/EBITDA)	17.38	18.23	15.61	16.67	17.58	16.09	18.49	19.58	19.86	18.03
Enterprise Value to EBIT (EV/EBIT)	20.45	21.38	18.26	19.43	20.51	18.77	21.64	23.34	23.97	21.91
Enterprise Value to NOPAT (EV/NOPAT)	26.03	27.14	23.22	24.54	25.99	23.80	27.59	29.67	29.27	26.88
Enterprise Value to Operating Cash Flow (EV/OCF)	25.66	27.14	22.54	24.47	25.35	23.49	27.88	29.81	29.31	24.48
Enterprise Value to Free Cash Flow (EV/FCFF)	30.72	45.00	29.83	32.17	0.00	37.78	40.54	40.87	34.77	25.16
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-10.12	-7.65	-7.99	-7.73	-8.36	-7.68	-7.14	-6.43	-5.98	-5.31
Long-Term Debt to Equity	-10.12	-7.53	-7.99	-7.61	-7.89	-7.68	-7.14	-6.34	-5.98	-5.31
Financial Leverage	-14.56	-7.00	-6.99	-6.29	-8.80	-5.65	-5.75	-5.40	-5.91	-5.10
Leverage Ratio	-13.09	-10.79	-10.61	-9.95	-9.95	-8.81	-8.77	-8.74	-9.83	-8.27
Compound Leverage Factor	-11.39	-9.52	-9.26	-8.62	-8.70	-7.89	-7.85	-7.64	-8.64	-7.38
Debt to Total Capital	110.97%	115.05%	114.31%	114.85%	113.59%	114.97%	116.28%	118.42%	120.08%	123.20%
Short-Term Debt to Total Capital	0.00%	1.73%	0.00%	1.86%	6.33%	0.00%	0.00%	1.67%	0.00%	0.00%
Long-Term Debt to Total Capital	110.97%	113.31%	114.31%	113.00%	107.26%	114.97%	116.28%	116.75%	120.08%	123.20%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-10.96%	-15.05%	-14.31%	-14.85%	-13.59%	-14.97%	-16.28%	-18.42%	-20.08%	-23.20%
Debt to EBITDA	2.75	2.86	2.78	2.66	2.84	2.74	2.71	3.18	3.29	3.27
Net Debt to EBITDA	2.48	2.56	2.52	2.39	2.43	2.41	2.51	2.77	2.96	2.91
Long-Term Debt to EBITDA	2.75	2.81	2.78	2.61	2.68	2.74	2.71	3.13	3.29	3.27
Debt to NOPAT	4.13	4.25	4.13	3.91	4.20	4.05	4.05	4.82	4.85	4.88
Net Debt to NOPAT	3.72	3.81	3.74	3.52	3.59	3.56	3.75	4.19	4.36	4.35
Long-Term Debt to NOPAT	4.13	4.19	4.13	3.85	3.96	4.05	4.05	4.75	4.85	4.88
Altman Z-Score	6.26	4.36	4.21	4.38	6.01	4.40	4.70	4.33	4.28	4.18
Noncontrolling Interest Sharing Ratio	0.02%	0.00%	0.00%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.19	0.78	1.08	0.83	1.16	1.71	1.35	1.47	1.43	1.65
Quick Ratio	0.90	0.58	0.82	0.63	1.03	1.43	1.04	1.25	1.24	1.35
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	857	-1,163	247	-74	-28,022	-863	-270	-101	931	2,649
Operating Cash Flow to CapEx	413.68%	235.34%	236.22%	480.89%	338.64%	478.52%	289.62%	430.61%	238.07%	380.71%
Free Cash Flow to Firm to Interest Expense	2.26	-3.05	0.66	-0.20	-77.84	-2.53	-0.82	-0.30	2.88	8.65
Operating Cash Flow to Interest Expense	6.92	7.18	4.53	6.42	6.91	8.88	5.07	7.33	6.82	7.95
Operating Cash Flow Less CapEx to Interest Expense	5.25	4.13	2.61	5.09	4.87	7.03	3.32	5.63	3.95	5.86
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.47	0.48	0.49	0.49	0.48	0.50	0.49	0.46	0.44	0.46
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	101.49	113.83	114.81	115.99	105.03	127.62	113.17	100.19	94.55	107.20
Fixed Asset Turnover	1.03	1.04	1.05	1.06	1.05	1.07	1.02	0.97	0.96	0.99
Accounts Payable Turnover	5.19	6.40	6.44	6.47	5.29	7.01	7.01	6.62	5.12	6.40
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	3.60	3.21	3.18	3.15	3.48	2.86	3.23	3.64	3.86	3.40
Days Payable Outstanding (DPO)	70.35	57.01	56.72	56.41	68.95	52.08	52.10	55.14	71.29	57.08
Cash Conversion Cycle (CCC)	-66.75	-53.80	-53.54	-53.26	-65.47	-49.22	-48.88	-51.50	-67.42	-53.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	58,361	31,924	30,453	29,187	56,939	28,232	28,389	26,921	26,645	24,826
Invested Capital Turnover	0.45	0.86	0.88	0.92	0.61	0.94	0.90	0.91	0.89	0.93
Increase / (Decrease) in Invested Capital	1,422	3,692	2,064	2,266	30,294	3,406	2,816	2,113	1,171	-489
Enterprise Value (EV)	242,370	252,537	216,360	234,454	243,669	219,067	243,361	228,733	216,532	192,240
Market Capitalization	207,741	217,132	181,504	200,807	209,983	186,327	210,315	196,401	184,277	161,166
Book Value per Share	($5.30)	($7.22)	($6.69)	($6.69)	($6.49)	($6.66)	($6.85)	($7.90)	($8.20)	($8.92)
Tangible Book Value per Share	($9.69)	($11.71)	($10.92)	($10.89)	($10.68)	($10.73)	($10.91)	($11.90)	($12.16)	($12.53)
Total Capital	34,627	34,409	33,700	32,535	34,638	32,420	30,711	31,352	29,900	28,300
Total Debt	38,424	39,586	38,524	37,368	39,345	37,275	35,710	37,128	35,904	34,866
Total Long-Term Debt	38,424	38,990	38,524	36,764	37,153	37,275	35,710	36,604	35,904	34,866
Net Debt	34,629	35,405	34,856	33,647	33,686	32,740	33,046	32,332	32,255	31,074
Capital Expenditures (CapEx)	636	1,163	715	497	735	633	578	562	925	639
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-347	-2,021	-497	-1,063	-1,260	-649	-354	-1,010	-962	-574
Debt-free Net Working Capital (DFNWC)	738	-800	295	-225	3,319	2,847	1,272	2,698	1,622	2,255
Net Working Capital (NWC)	738	-1,396	295	-829	1,127	2,847	1,272	2,174	1,622	2,255
Net Nonoperating Expense (NNE)	262	274	289	263	232	226	236	211	199	178
Net Nonoperating Obligations (NNO)	62,158	37,101	35,277	34,020	61,646	33,087	33,389	32,697	32,649	31,393
Total Depreciation and Amortization (D&A)	553	532	502	510	497	498	493	490	464	466
Debt-free, Cash-free Net Working Capital to Revenue	-1.34%	-7.79%	-1.93%	-4.13%	-4.94%	-2.59%	-1.46%	-4.31%	-4.15%	-2.47%
Debt-free Net Working Capital to Revenue	2.85%	-3.08%	1.15%	-0.87%	13.02%	11.38%	5.26%	11.52%	7.00%	9.69%
Net Working Capital to Revenue	2.85%	-5.38%	1.15%	-3.22%	4.42%	11.38%	5.26%	9.28%	7.00%	9.69%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.82	$3.15	$2.81	$2.67	$2.80	$3.19	$3.17	$2.47	$2.59	$2.70
Adjusted Weighted Average Basic Shares Outstanding	718.30M	716.70M	719.00	721.80M	727.90M	727.20M	729.60M	730.90M	736.50M	734.90M
Adjusted Diluted Earnings per Share	$2.80	$3.13	$2.80	$2.66	$2.79	$3.17	$3.15	$2.45	$2.57	$2.68
Adjusted Weighted Average Diluted Shares Outstanding	721.90M	720M	722.00	725.90M	732.30M	731.60M	734.30M	735.50M	741.30M	739.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	714.46M	716.62M	717.34M	720.68M	722.05M	725.34M	728.76M	730.09M	731.50M	732.42M
Normalized Net Operating Profit after Tax (NOPAT)	2,279	2,529	2,311	2,192	2,272	2,543	2,546	2,013	2,102	2,160
Normalized NOPAT Margin	35.68%	36.79%	35.61%	35.53%	35.47%	38.00%	39.19%	34.12%	35.46%	36.78%
Pre Tax Income Margin	39.73%	41.36%	39.37%	39.05%	39.24%	43.69%	43.35%	38.44%	39.46%	43.19%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.68	8.46	7.85	7.48	7.99	9.57	9.54	7.87	8.24	9.28
NOPAT to Interest Expense	6.00	6.64	6.20	5.89	6.31	7.46	7.72	6.10	6.51	7.05
EBIT Less CapEx to Interest Expense	6.00	5.41	5.94	6.14	5.95	7.72	7.78	6.16	5.38	7.20
NOPAT Less CapEx to Interest Expense	4.32	3.58	4.28	4.56	4.27	5.60	5.97	4.40	3.64	4.96
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	59.22%	58.33%	56.79%	53.84%	53.52%	53.24%	54.35%	61.88%	67.48%	69.10%
Augmented Payout Ratio	93.57%	96.80%	102.03%	93.33%	89.59%	85.55%	85.69%	105.04%	130.55%	140.31%

Frequently Asked Questions About McDonald's' Financials

When does McDonald's's financial year end?

According to the most recent income statement we have on file, McDonald's' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has McDonald's' net income changed over the last 9 years?

McDonald's' net income appears to be on an upward trend, with a most recent value of $8.22 billion in 2024, rising from $4.53 billion in 2015. The previous period was $8.47 billion in 2023. Find out what analysts predict for McDonald's in the coming months.

What is McDonald's's operating income?

McDonald's's total operating income in 2024 was $11.71 billion, based on the following breakdown:

Total Gross Profit: $20.39 billion
Total Operating Expenses: $8.68 billion

How has McDonald's revenue changed over the last 9 years?

Over the last 9 years, McDonald's' total revenue changed from $25.41 billion in 2015 to $25.92 billion in 2024, a change of 2.0%.

How much debt does McDonald's have?

McDonald's' total liabilities were at $31.93 billion at the end of 2024, a 4.3% decrease from 2023, and a 3.5% increase since 2015.

How much cash does McDonald's have?

In the past 9 years, McDonald's' cash and equivalents has ranged from $866 million in 2018 to $7.69 billion in 2015, and is currently $1.09 billion as of their latest financial filing in 2024.

How has McDonald's' book value per share changed over the last 9 years?

Over the last 9 years, McDonald's' book value per share changed from 7.72 in 2015 to -5.30 in 2024, a change of -168.6%.

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This page (NYSE:MCD) was last updated on 5/20/2025 by MarketBeat.com Staff

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McDonald's (MCD) Financials

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McDonald's (MCD) Financials

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