MCDONALDS CORP

10-K & 10-Q Filings

McDonald's Corporation is a global food service company that franchises and operates McDonald's restaurants. The company's business strategy is to deliver great-tasting food, locally relevant customer experiences, and drive profitability through franchising. McDonald's has three reportable segments: the United States, International Operated Markets, and International Developmental Licensed Markets & Corporate. The company's revenues consist of sales by Company-operated restaurants and fees from franchised restaurants. McDonald's operates under various franchise structures, including conventional franchise, developmental license, and affiliate arrangements. The company's website is mcdonalds.com, and its ticker symbol is MCD. McDonald's operates and franchises McDonald's restaurants, which serve a locally relevant menu of quality food and beverages in more than 100 countries. Approximately 95% of McDonald's restaurants are franchised. The company's reporting segments are the United States, International Operated Markets, and International Developmental Licensed Markets & Corporate. McDonald's is primarily a franchisor and believes that franchising is essential to delivering great-tasting food, locally relevant customer experiences, and driving profitability. McDonald's has a purpose to feed and foster communities and a mission to make delicious feel-good moments easy for everyone. The company is guided by five core values: Serve, Inclusion, Integrity, Community, and Family. McDonald's people strategies aim to create an inclusive environment and provide quality training and learning opportunities for its employees. The company has a long-standing commitment to providing training, education benefits, and career path opportunities for its people. McDonald's prioritizes action and progress across a range of environmental matters and endeavors to improve its long-term sustainability and resiliency. The company has developed goals and commitments to reduce Systemwide greenhouse gas emissions, support deforestation-free sourcing, efficiently manage natural resources and support biodiversity, responsibly source ingredients and packaging, and increase the availability of recycling in restaurants to reduce waste. The company competes with international, national, regional, and local retailers of traditional, fast casual, and other food service competitors. McDonald's measures its competitive position within the informal eating out segment and competes primarily on the basis of price, convenience, service, experience, menu variety, and product quality. McDonald's is subject to various laws and regulations in the jurisdictions in which it operates, including advertising, franchising, health, safety, environment, competition, zoning, employment, and taxation laws. While costs associated with legal and regulatory compliance have increased, they are not expected to have a material effect on the company's capital expenditures, earnings, or competitive position. In 2023, McDonald's reported global comparable sales growth of 9.0%, driven primarily by strong sales performance across all segments. The company's revenues increased 10% to $25.5 billion, and operating income increased 24% to $11.6 billion. McDonald's website is mcdonalds.com, and its ticker symbol is MCD.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 2023CAGR %YoY %Revenue (+)
$27006.00
27567.00
28105.70
27441.30
25413.00
24621.90
22820.40
21025.20
21076.50
19207.80
23222.90
23182.60
25493.70
-0.48%9.97%Cost of Revenue (-)
$1481.50
1527.00
1624.40
1697.30
1646.90
1718.40
1790.00
1973.30
Gross Profit (+)
$25524.50
26040.00
26481.30
25744.00
23766.10
22903.50
21030.40
19051.90
Selling, General & Administrative (-)
$2393.70
2455.20
2385.60
2487.90
2434.30
2384.50
2231.30
2200.20
2229.40
2245.00
2377.80
2492.20
2435.20
0.14%-2.29%Depreciation & Amortization (-)
$
300.60
329.70
370.40
381.70
3.05%Non-recurring Operating Expenses (-)
$-3.90
8.00
Operating Expenses (-)
$16994.80
17435.40
17717.00
17794.80
16620.60
15159.00
11477.70
10229.30
12006.70
11883.80
12866.90
13811.60
13847.00
-1.69%0.26%Costs & Expenses (Total) (-)
$18476.30
18962.40
19341.40
19492.10
18267.50
16877.40
13267.70
12202.60
12006.70
11883.80
12866.90
13811.60
13847.00
-2.37%0.26%Operating Income/Loss (+)
$8529.70
8604.60
8764.30
7949.20
7145.50
7744.50
9552.70
8822.60
9069.80
7324.00
10356.00
9371.00
11646.70
2.63%24.28%Non-operating Income/Expense (+)
$-24.70
-9.00
-37.90
-6.70
48.50
6.30
-57.90
-25.30
70.20
34.80
-42.30
-338.60
236.30
169.79%Interest Expense (-)
$492.80
516.60
521.90
570.50
638.30
884.80
921.30
981.20
1121.90
1218.10
1185.80
1207.00
1360.80
8.83%12.74%Earnings before Tax (+)
$8012.20
8079.00
8204.50
7372.00
6555.70
6866.00
8573.50
7816.10
8018.10
6140.70
9127.90
7825.40
10522.20
2.30%34.46%Tax Expense (-)
$2509.10
2614.20
2618.60
2614.20
2026.40
2179.50
3381.20
1891.80
1992.70
1410.20
1582.70
1648.00
2053.40
-1.66%24.60%Income/Loss (Continuing Operations) (+)
$5503.10
5464.80
5585.90
4757.80
4529.30
4686.50
5192.30
5924.30
6025.40
4730.50
7545.20
6177.40
8468.80
3.66%37.09%Net Income/Loss (+)
$5503.10
5464.80
5585.90
4757.80
4529.30
4686.50
5192.30
5924.30
6025.40
4730.50
7545.20
6177.40
8468.80
3.66%37.09%Net Income/Loss (Common) (+)
$5503.10
5464.80
5585.90
4757.80
4529.30
4686.50
5192.30
5924.30
6025.40
4730.50
7545.20
6177.40
8468.80
3.66%37.09%EPS (Basic)
$5.33
5.41
5.59
4.85
4.82
5.49
6.43
7.61
7.95
6.35
10.11
8.39
11.63
6.72%38.62%EPS (Diluted)
$5.27
5.36
5.55
4.82
4.80
5.44
6.37
7.54
7.88
6.31
10.04
8.33
11.56
6.77%38.78%Weighted Avg Shares (Basic)
1032.10
1010.10
998.40
980.50
939.40
854.40
807.40
778.20
758.10
744.60
746.30
736.50
0.00
-69.28%-100.00%Weighted Avg Shares (Diluted)
1044.90
1020.20
1006.00
986.30
944.60
861.20
815.50
785.60
764.90
750.10
751.80
741.30
0.00
-69.30%-100.00%Cash
$2335.70
2336.10
2798.70
2077.90
7685.50
1223.40
2463.80
866.00
898.50
3449.10
4709.20
2583.80
4579.30
5.77%77.23%Receivables
$1334.70
1375.30
1319.80
1214.40
1298.70
1474.10
1976.20
2441.50
2224.20
2110.30
1872.40
2115.00
2488.00
5.33%17.64%Inventory
$116.80
121.70
123.70
110.00
100.10
58.90
58.80
51.10
50.20
51.10
55.60
52.00
52.80
-6.40%1.54%Prepaid Expenses (Current)
$615.80
1089.00
807.90
783.20
558.70
565.20
828.40
694.60
385.00
632.70
511.30
673.40
866.30
2.89%28.65%Other Assets (Current)
$
1527.00
Assets (Current)
$4403.00
4922.10
5050.10
4185.50
9643.00
4848.60
5327.20
4053.20
3557.90
6243.20
7148.50
5424.20
7986.40
5.09%47.24%Securities & Long-term Investments
$1427.00
1380.50
1209.10
1004.50
792.70
725.90
1085.70
1202.80
1270.30
1297.20
1201.20
1064.50
1080.20
-2.29%1.47%Property, Plant & Equipment (Net)
$22834.50
24677.20
25747.30
24557.50
23117.60
21257.60
22448.30
22842.70
37421.20
38785.90
38272.60
36339.30
38422.00
4.43%5.73%Accumulated Depreciation
$12903.10
13813.90
14608.30
14568.60
14574.80
13185.80
14178.10
14350.90
14890.90
16518.30
17196.00
17264.00
18662.40
3.12%8.10%Goodwill & Intangibles
$2653.20
2804.00
2872.70
2735.30
2516.30
2336.50
2379.70
2331.50
2677.40
2773.10
2782.50
2900.40
3040.40
1.14%4.83%Other Assets
$1672.20
1602.70
1747.10
1798.60
1869.10
1855.30
2562.80
2381.00
2584.00
3527.40
4449.50
4707.20
5617.80
10.63%19.34%Assets (Non-current)
$28586.90
30464.40
31576.20
30095.90
28295.70
26175.30
28476.50
28758.00
43952.90
46383.60
46705.80
45011.40
48160.40
4.44%7.00%Assets (Total)
$32989.90
35386.50
36626.30
34281.40
37938.70
31023.90
33803.70
32811.20
47510.80
52626.80
53854.30
50435.60
56146.80
4.53%11.32%Accounts Payable
$1779.80
2028.30
1906.20
1590.60
1571.60
1537.00
1744.40
1986.90
1905.20
2097.80
1967.50
1903.60
2544.90
3.02%33.69%Debt (Current)
$366.60
77.20
680.10
2243.60
2192.40
16.07%Other Liabilities (Current)
$1362.80
1374.80
1263.80
1157.30
1378.80
1854.10
1146.20
986.60
1035.70
1839.80
2052.50
1898.50
2121.70
3.76%11.76%Liabilities (Current)
$3509.20
3403.10
3170.00
2747.90
2950.40
3468.30
2890.60
2973.50
3621.00
6181.20
4020.00
3802.10
6859.00
5.74%80.40%Debt (Non-current)
$12133.80
13632.50
14129.80
14989.70
24122.10
25878.50
29536.40
31075.30
46875.90
35196.80
35622.70
35903.50
37152.90
9.77%3.48%Other Liabilities
$2956.70
3057.30
3316.80
3690.40
3778.30
3881.40
4644.70
5020.80
5224.20
19073.70
18812.60
16733.40
16841.60
15.60%0.65%Liabilities (Non-current)
$15090.50
16689.80
17446.60
18680.10
27900.40
29759.90
34181.10
36096.10
52100.10
54270.50
54435.30
52636.90
53994.50
11.21%2.58%Liabilities (Total)
$18599.70
20092.90
20616.60
21428.00
30850.80
33228.20
37071.70
39069.60
55721.10
60451.70
58455.30
56439.00
60853.50
10.38%7.82%Treasury Stock
$28270.90
30576.30
32179.80
35177.10
41176.80
52108.60
56504.40
61528.50
66328.60
67066.40
67810.20
71624.40
74640.10
8.43%4.21%Retained Earnings
$36707.50
39278.00
41751.20
43294.50
44594.50
46222.70
48325.80
50487.00
52930.50
53908.10
57534.70
59543.90
63479.90
4.67%6.61%AOCI
$449.70
796.40
427.60
-1519.70
-2879.80
-3092.90
-2178.40
-2609.50
-2482.70
-2586.80
-2573.70
-2486.60
-2456.00
1.23%Shareholder's Equity
$14390.20
15293.60
16009.70
12853.40
7087.90
-2204.30
-3268.00
-6258.40
-8210.30
-7824.90
-4601.00
-6003.40
-4706.70
21.60%Liabilities & Equity
$32989.90
35386.50
36626.30
34281.40
37938.70
31023.90
33803.70
32811.20
47510.80
52626.80
53854.30
50435.60
56146.80
4.53%11.32%Net Income/Loss
$5503.10
5464.80
5585.90
4757.80
4529.30
4686.50
5192.30
5924.30
6025.40
4730.50
7545.20
6177.40
8468.80
3.66%37.09%Depreciation & Amortization
$1415.00
1488.50
1585.10
1644.50
1555.70
1516.50
1363.40
1482.00
1617.90
1751.40
1868.10
1870.60
1978.20
2.83%5.75%Increase/Decrease in Working Capital
$-40.00
123.10
191.40
63.60
-167.90
-167.00
980.50
472.70
-298.50
212.10
-454.20
644.60
108.00
-83.25%Share-based Compensation
$86.20
93.40
89.10
112.80
110.00
131.30
117.50
125.10
109.60
92.40
139.20
166.70
175.20
6.09%5.10%Adjustments to Reconcile Net Income
$1647.00
1501.30
1534.80
1972.50
2009.80
1373.10
358.90
1042.40
2096.70
1534.70
1596.30
1209.30
1143.10
-3.00%-5.47%Net Cash (Operating)
$7150.10
6966.10
7120.70
6730.30
6539.10
6059.60
5551.20
6966.70
8122.10
6265.20
9141.50
7386.70
9611.90
2.50%30.12%Capital Expenditure
$2404.80
2813.00
2565.60
2264.00
1400.30
872.10
789.10
2152.20
2442.60
1603.20
2111.80
2221.40
2508.40
0.35%12.92%Net Cash (Investing)
$-2570.90
-3167.30
-2673.80
-2304.90
-1420.00
-981.60
562.00
-2455.10
-3071.10
-1545.80
-2165.70
-2678.10
-3184.50
-18.91%Increase/Decrease in Debt
$1003.90
1204.60
535.30
1502.90
9755.20
2670.40
2027.80
2130.80
3236.30
2238.20
-1070.50
1197.60
2992.80
9.53%149.90%Increase/Decrease in Equity
$-3363.10
-2615.10
-1777.80
-3198.60
-6099.20
-11171.00
-4228.90
-4804.50
-4625.70
-612.30
-559.80
-3647.80
-2794.50
23.39%Interest Expenses
$489.30
533.70
532.70
573.20
640.80
873.50
885.20
959.60
1066.50
1136.00
1197.30
1183.50
1286.90
8.39%8.74%Dividends Paid
$2609.70
2896.60
3114.60
3216.10
3230.30
3058.20
3089.20
3255.90
3581.90
3752.90
3918.60
4168.20
4532.80
4.71%8.75%Net Cash (Financing)
$-4533.00
-3849.80
-4043.00
-4618.30
735.30
-11262.40
-5310.80
-5949.60
-4994.80
-2249.00
-5595.60
-6580.20
-4374.10
33.53%Cash Taxes Paid
$2056.70
2447.80
2546.00
2388.30
1985.40
2387.50
2786.30
1734.40
1589.70
1441.90
2403.90
3023.50
2992.90
3.18%-1.01%Effect of Exchange Rate
$-97.50
51.40
58.70
-527.90
-246.80
-103.70
264.00
-159.80
-23.70
80.20
-120.10
-253.80
-57.80
77.23%Increase/Decrease in Cash
$-51.30
0.40
462.60
-720.80
5607.60
-6288.10
1066.40
-1597.80
32.50
2550.60
1260.10
-2125.40
1995.50
193.89%Cash (Beginning)
$2387.00
2335.70
2336.10
2798.70
2077.90
7685.50
1223.40
2463.80
866.00
898.50
3449.10
4709.20
2583.80
0.66%-45.13%Cash (Ending)
$2335.70
2336.10
2798.70
2077.90
7685.50
1223.40
2463.80
866.00
898.50
3449.10
4709.20
2583.80
4579.30
5.77%77.23%NOPAT
$6340.16
5997.55
6044.58
5373.91
4981.48
5051.52
6448.17
6864.86
7271.59
5604.25
7628.67
5750.33
8333.95
2.30%44.93%Gross Margin %
94.51%
94.46%
94.22%
93.81%
93.52%
93.02%
92.16%
90.61%
Operating Margin %
31.58%
31.21%
31.18%
28.97%
28.12%
31.45%
41.86%
41.96%
43.03%
38.13%
44.59%
40.42%
45.68%
NOPAT Margin %
23.48%
21.76%
21.51%
19.58%
19.60%
20.52%
28.26%
32.65%
34.50%
29.18%
32.85%
24.80%
32.69%
Net Margin %
20.38%
19.82%
19.87%
17.34%
17.82%
19.03%
22.75%
28.18%
28.59%
24.63%
32.49%
26.65%
33.22%
Tax Rate %
25.67%
30.30%
31.03%
32.40%
30.29%
34.77%
32.50%
22.19%
19.83%
23.48%
26.34%
38.64%
28.44%
ROA
19.22%
16.95%
16.50%
15.68%
13.13%
16.28%
19.08%
20.92%
15.31%
10.65%
14.17%
11.40%
14.84%
ROE
44.06%
39.22%
37.76%
41.81%
70.28%
-229.17%
-197.31%
-109.69%
-88.57%
-71.62%
-165.80%
-95.78%
-177.07%
ROIC
23.11%
20.20%
19.42%
18.34%
17.87%
20.66%
23.32%
25.67%
17.64%
12.96%
17.81%
13.84%
19.02%
Asset Turnover
0.82
0.78
0.77
0.80
0.67
0.79
0.68
0.64
0.44
0.36
0.43
0.46
0.45
Inventory Turnover
12.68
12.55
13.13
15.43
16.45
29.17
30.44
38.62
Equity Multiplier
2.29
2.31
2.29
2.67
5.35
-14.07
-10.34
-5.24
-5.79
-6.73
-11.70
-8.40
-11.93
Current Ratio
1.25
1.45
1.59
1.52
3.27
1.40
1.84
1.36
0.98
1.01
1.78
1.43
1.16
Quick Ratio
1.05
1.09
1.30
1.20
3.05
0.78
1.54
1.11
0.86
0.90
1.64
1.24
1.03
Debt/Equity Ratio
0.87
0.89
0.88
1.17
3.40
-11.78
-9.04
-4.97
-5.79
-4.78
-7.74
-5.98
-8.36
Interest Coverage Ratio
17.43
16.12
16.45
13.87
11.15
8.87
10.79
9.19
8.50
6.45
8.65
7.92
9.05
Working Capital/Sales
0.07
0.08
0.09
0.07
0.09
0.03
0.12
0.07
0.05
0.09
0.08
0.10
0.09
Dividend Payout Ratio %
41.16%
48.30%
51.53%
59.85%
64.85%
60.54%
47.91%
47.43%
49.26%
66.97%
51.37%
72.49%
54.39%
Total Payout
$5458.20
4840.80
4889.80
5485.00
215.10
12432.30
6175.50
6889.20
6037.80
3263.00
6746.20
7801.90
5621.40
0.25%-27.95%Payout Ratio %
86.09%
80.71%
80.90%
102.07%
4.32%
246.11%
95.77%
100.35%
83.03%
58.22%
88.43%
135.68%
67.45%