Analysis of Revenues
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Return on Equity (ROE) since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
- Aggregate Accruals
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Revenues as Reported
McDonald’s Corp., income statement, revenues
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
- Trend in Rents
- Rents have demonstrated a steady upward trend over the five-year period, increasing from US$6,845 million in 2020 to US$10,017 million in 2024. This represents a consistent year-over-year growth, reflecting expanding rental income.
- Trend in Royalties
- Royalties have also increased progressively, starting at US$3,832 million in 2020 and rising to US$5,606 million by 2024. The growth is steady with no apparent fluctuations, indicating a stable enhancement in franchise-related income.
- Trend in Initial Fees
- Initial fees exhibit some variability but show an overall upward trend, increasing from US$50 million in 2020 to US$92 million in 2024. Notably, there is a dip in 2022, but the fees recovered and reached their highest value in 2024, suggesting increased franchising activity during the period.
- Revenues from Franchised Restaurants
- This category consistently rose from US$10,726 million in 2020 to US$15,715 million in 2024, marking a significant increase. The steady upward trajectory reflects growth in the franchised restaurant operations.
- Sales by Company-operated Restaurants
- Sales by company-operated restaurants fluctuated over the years, starting at US$8,139 million in 2020, peaking at US$9,787 million in 2021, declining to US$8,748 million in 2022, then increasing again to US$9,782 million in 2024. This pattern indicates some volatility but generally stabilizes near peak levels by the end of the period.
- Other Revenues
- Other revenues remained relatively stable with minor fluctuations, starting at US$343 million in 2020, experiencing a slight decrease until 2023, and then rising to US$423 million in 2024. The fluctuations are minimal in comparison to other categories.
- Total Revenues
- Total revenues exhibit a clear upward trend, increasing from US$19,208 million in 2020 to US$25,920 million in 2024. Despite a minor decline in 2022 compared to 2021, the overall growth reflects expanding business operations and increasing income streams across most categories.