McDonald's Corporation

MCDNYSE

$251.35

Last price · USD

Market cap: $180.1B
P/E: 21.0x
EV / EBITDA: 15.9x
P/S: 6.7x
FCF yield: 4.0%
Div. yield: 2.84%

Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.

McDonald's Corporation balance sheet

Annual · USD millions except per-share data · 46 lines

Fiscal year	2025latest	2024	2023	2022	2021	CAGR
Current assets
Cash & cash equivalents	774	1,085	4,579	2,584	4,709	-36.3%
Cash & short-term investments	774	1,085	4,579	2,584	4,709	-36.3%
Net receivables	2,466	2,383	2,488	2,115	1,872	+7.1%
Accounts receivable	2,466	2,383	2,488	2,115	1,872	+7.1%
Inventory	61	56	53	52	56	+2.3%
Prepaids	0	0	0	0	511	—
Other current assets	862	1,075	866	673	0	—
Total current assets	4,163	4,599	7,986	5,424	7,149	-12.6%
Non-current assets
Property, plant & equipment (net)	42,847	38,634	38,421	36,339	38,273	+2.9%
Goodwill	3,354	3,145	3,040	2,900	2,783	+4.8%
Intangible assets	1,061	0	0	0	0	—
Goodwill & intangible assets	4,415	3,145	3,040	2,900	2,783	+12.2%
Long-term investments	2,948	2,710	1,080	1,065	1,201	+25.2%
Tax assets	3,256	0	0	0	0	—
Other non-current assets	1,886	6,095	5,618	4,707	4,450	-19.3%
Total non-current assets	55,352	50,584	48,159	45,011	46,706	+4.3%
Other assets	0	(1)	2	0	0	—
Total assets	59,515	55,182	56,147	50,436	53,854	+2.5%
Current liabilities
Accounts payable	1,149	1,029	1,103	980	1,007	+3.4%
Other payables	497	585	973	530	597	-4.5%
Total payables	1,646	1,614	2,076	1,510	1,604	+0.6%
Short-term debt	0	0	2,192	0	0	—
Capital lease obligations (current)	694	636	688	661	706	-0.4%
Tax payables	0	585	973	530	597	—
Total current liabilities	4,361	3,861	6,859	3,802	4,020	+2.1%
Non-current liabilities
Long-term debt	39,973	38,424	37,153	35,904	35,623	+2.9%
Capital lease obligations (non-current)	14,147	12,888	13,058	12,134	13,021	+2.1%
Deferred revenue (non-current)	945	778	790	758	738	+6.4%
Deferred tax liabilities (non-current)	1,038	1,914	1,681	1,998	2,076	-15.9%
Other non-current liabilities	842	1,114	1,313	1,844	2,978	-27.1%
Total non-current liabilities	56,945	55,118	53,995	52,637	54,435	+1.1%
Capital lease obligations	14,841	13,524	13,746	12,796	13,726	+2.0%
Total debt	54,814	51,948	53,091	48,699	49,349	+2.7%
Total liabilities	61,306	58,979	60,854	56,439	58,455	+1.2%
Stockholders' equity
Common stock	17	17	17	17	17	+0.6%
Retained earnings	70,282	66,834	63,480	59,544	57,535	+5.1%
Additional paid-in capital	9,641	9,281	8,893	8,547	8,232	+4.0%
Treasury stock	(79,316)	(77,375)	(74,640)	(71,624)	(67,810)	—
Accumulated other comprehensive income (loss)	(2,414)	(2,553)	(2,456)	(2,487)	(2,574)	—
Other stockholders' equity	(1)	(1)	(1)	0	0	—
Total stockholders' equity	(1,791)	(3,797)	(4,707)	(6,003)	(4,601)	—
Total equity	(1,791)	(3,797)	(4,707)	(6,003)	(4,601)	—
Total liabilities & equity	59,515	55,182	56,147	50,436	53,854	+2.5%
Additional fields
Accrued Expenses	2,021	1,611	1,903	1,631	1,710	+4.3%
Net Debt	54,040	50,863	48,512	46,115	44,640	+4.9%
Total Investments	2,948	2,710	1,080	1,065	1,201	+25.2%

McDonald's Corporation

MCDNYSE

$251.35

Last price · USD

Market cap: $180.1B
P/E: 21.0x
EV / EBITDA: 15.9x
P/S: 6.7x
FCF yield: 4.0%
Div. yield: 2.84%

Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.

McDonald's Corporation balance sheet

Annual · USD millions except per-share data · 46 lines

Fiscal year	2025latest	2024	2023	2022	2021	CAGR
Current assets
Cash & cash equivalents	774	1,085	4,579	2,584	4,709	-36.3%
Cash & short-term investments	774	1,085	4,579	2,584	4,709	-36.3%
Net receivables	2,466	2,383	2,488	2,115	1,872	+7.1%
Accounts receivable	2,466	2,383	2,488	2,115	1,872	+7.1%
Inventory	61	56	53	52	56	+2.3%
Prepaids	0	0	0	0	511	—
Other current assets	862	1,075	866	673	0	—
Total current assets	4,163	4,599	7,986	5,424	7,149	-12.6%
Non-current assets
Property, plant & equipment (net)	42,847	38,634	38,421	36,339	38,273	+2.9%
Goodwill	3,354	3,145	3,040	2,900	2,783	+4.8%
Intangible assets	1,061	0	0	0	0	—
Goodwill & intangible assets	4,415	3,145	3,040	2,900	2,783	+12.2%
Long-term investments	2,948	2,710	1,080	1,065	1,201	+25.2%
Tax assets	3,256	0	0	0	0	—
Other non-current assets	1,886	6,095	5,618	4,707	4,450	-19.3%
Total non-current assets	55,352	50,584	48,159	45,011	46,706	+4.3%
Other assets	0	(1)	2	0	0	—
Total assets	59,515	55,182	56,147	50,436	53,854	+2.5%
Current liabilities
Accounts payable	1,149	1,029	1,103	980	1,007	+3.4%
Other payables	497	585	973	530	597	-4.5%
Total payables	1,646	1,614	2,076	1,510	1,604	+0.6%
Short-term debt	0	0	2,192	0	0	—
Capital lease obligations (current)	694	636	688	661	706	-0.4%
Tax payables	0	585	973	530	597	—
Total current liabilities	4,361	3,861	6,859	3,802	4,020	+2.1%
Non-current liabilities
Long-term debt	39,973	38,424	37,153	35,904	35,623	+2.9%
Capital lease obligations (non-current)	14,147	12,888	13,058	12,134	13,021	+2.1%
Deferred revenue (non-current)	945	778	790	758	738	+6.4%
Deferred tax liabilities (non-current)	1,038	1,914	1,681	1,998	2,076	-15.9%
Other non-current liabilities	842	1,114	1,313	1,844	2,978	-27.1%
Total non-current liabilities	56,945	55,118	53,995	52,637	54,435	+1.1%
Capital lease obligations	14,841	13,524	13,746	12,796	13,726	+2.0%
Total debt	54,814	51,948	53,091	48,699	49,349	+2.7%
Total liabilities	61,306	58,979	60,854	56,439	58,455	+1.2%
Stockholders' equity
Common stock	17	17	17	17	17	+0.6%
Retained earnings	70,282	66,834	63,480	59,544	57,535	+5.1%
Additional paid-in capital	9,641	9,281	8,893	8,547	8,232	+4.0%
Treasury stock	(79,316)	(77,375)	(74,640)	(71,624)	(67,810)	—
Accumulated other comprehensive income (loss)	(2,414)	(2,553)	(2,456)	(2,487)	(2,574)	—
Other stockholders' equity	(1)	(1)	(1)	0	0	—
Total stockholders' equity	(1,791)	(3,797)	(4,707)	(6,003)	(4,601)	—
Total equity	(1,791)	(3,797)	(4,707)	(6,003)	(4,601)	—
Total liabilities & equity	59,515	55,182	56,147	50,436	53,854	+2.5%
Additional fields
Accrued Expenses	2,021	1,611	1,903	1,631	1,710	+4.3%
Net Debt	54,040	50,863	48,512	46,115	44,640	+4.9%
Total Investments	2,948	2,710	1,080	1,065	1,201	+25.2%