McDonald's Corp. (MCD)

Ratios (Summary)

McDonald's Corp., liquidity ratios

	Dec 31, 2012	Dec 31, 2011	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008
Current ratio	1.45	1.25	1.49	1.14	1.39
Quick ratio	1.09	1.05	1.22	0.96	1.18
Cash ratio	0.69	0.67	0.82	0.60	0.81

Source: Based on data from McDonald's Corp. Annual Reports

Ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	McDonald's Corp.'s current ratio deteriorated from 2010 to 2011 but then improved from 2011 to 2012 not reaching 2010 level.
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	McDonald's Corp.'s quick ratio deteriorated from 2010 to 2011 but then slightly improved from 2011 to 2012.
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	McDonald's Corp.'s cash ratio deteriorated from 2010 to 2011 but then slightly improved from 2011 to 2012.

	Dec 31, 2012	Dec 31, 2011	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008
Selected Financial Data (USD $ in thousands)
Current assets	4,922,100	4,403,000	4,368,500	3,416,300	3,517,600
Current liabilities	3,403,100	3,509,200	2,924,700	2,988,700	2,537,900
Current Ratio, Comparison to Industry
McDonald's Corp.¹	1.45	1.25	1.49	1.14	1.39
Industry, Consumer Services	1.11	1.19	1.19	1.17	1.06

Source: Based on data from McDonald's Corp. Annual Reports

2012 Calculations

¹ Current ratio = Current assets ÷ Current liabilities
= 4,922,100 ÷ 3,403,100 = 1.45

Ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	McDonald's Corp.'s current ratio deteriorated from 2010 to 2011 but then improved from 2011 to 2012 not reaching 2010 level.

	Dec 31, 2012	Dec 31, 2011	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008
Selected Financial Data (USD $ in thousands)
Cash and equivalents	2,336,100	2,335,700	2,387,000	1,796,000	2,063,400
Accounts and notes receivable	1,375,300	1,334,700	1,179,100	1,060,400	931,200
Total quick assets	3,711,400	3,670,400	3,566,100	2,856,400	2,994,600
Current liabilities	3,403,100	3,509,200	2,924,700	2,988,700	2,537,900
Quick Ratio, Comparison to Industry
McDonald's Corp.¹	1.09	1.05	1.22	0.96	1.18
Industry, Consumer Services	0.42	0.46	0.47	0.44	0.40

Source: Based on data from McDonald's Corp. Annual Reports

2012 Calculations

¹ Quick ratio = Total quick assets ÷ Current liabilities
= 3,711,400 ÷ 3,403,100 = 1.09

Ratio	Description	The company
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	McDonald's Corp.'s quick ratio deteriorated from 2010 to 2011 but then slightly improved from 2011 to 2012.

	Dec 31, 2012	Dec 31, 2011	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008
Selected Financial Data (USD $ in thousands)
Cash and equivalents	2,336,100	2,335,700	2,387,000	1,796,000	2,063,400
Total cash assets	2,336,100	2,335,700	2,387,000	1,796,000	2,063,400
Current liabilities	3,403,100	3,509,200	2,924,700	2,988,700	2,537,900
Cash Ratio, Comparison to Industry
McDonald's Corp.¹	0.69	0.67	0.82	0.60	0.81
Industry, Consumer Services	0.16	0.18	0.20	0.18	0.16

Source: Based on data from McDonald's Corp. Annual Reports

2012 Calculations

¹ Cash ratio = Total cash assets ÷ Current liabilities
= 2,336,100 ÷ 3,403,100 = 0.69

Ratio	Description	The company
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	McDonald's Corp.'s cash ratio deteriorated from 2010 to 2011 but then slightly improved from 2011 to 2012.