Common-Size Balance Sheet: Assets
Quarterly Data
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McDonald’s Corp. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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McDonald’s Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cash and Equivalents
- The percentage of cash and equivalents relative to total assets generally exhibits significant volatility over the periods. From early 2020 through mid-2021, the ratio fluctuates between approximately 3% and 9%, peaking near the end of 2021. Subsequently, a pronounced decline is observed starting in early 2024, with the ratio falling below 2% before a moderate recovery to nearly 4% by late 2025. This suggests periods of varying liquidity management or cash deployment strategies.
- Accounts and Notes Receivable
- Receivables as a percentage of total assets remain fairly stable throughout the timeline, mostly maintaining a narrow band between 3% and 4.5%. This stability indicates consistent credit policies or customer payment terms across the periods analyzed.
- Inventories
- Inventories represent a negligible and steady proportion of total assets, consistently around 0.09% to 0.10%. This signifies minimal inventory holdings relative to the asset base, consistent with operational characteristics.
- Prepaid Expenses and Other Current Assets
- This category displays some variation, initially staying under 1.5% in early periods but rising notably in mid-2022 and again in mid-2023, reaching peaks above 2%. The increases may reflect changes in prepayment strategies or recognition of other current asset items during those intervals.
- Current Assets
- The proportion of current assets to total assets oscillates between approximately 7.5% and 14.2%, with identifiable troughs in early 2024 and peaks in late 2020 and early 2024. The fluctuations imply fluctuations in liquidity and working capital components over time, with lower ratios towards later periods suggesting a relative shift towards long-term assets.
- Investments in Affiliates
- The ratio is relatively stable around 2.0% to 2.5% until early 2023, when there is a marked increase to above 5%, sustained through late 2025. This substantial rise indicates significant additions or revaluation of affiliates’ investments during this later timeframe.
- Goodwill
- Goodwill remains stable between about 5.2% and 5.9% of total assets with minor fluctuations, suggesting steady intangible asset levels without material impairments or acquisitions affecting this balance.
- Miscellaneous Assets
- This asset category shows a gradual increasing trend from near 5% in early 2020 to just above 11% by late 2024 and mid-2025, pointing towards a consistent buildup in miscellaneous asset types over time.
- Other Assets
- Other assets steadily increase from approximately 12.6% to over 21% by late 2024, indicating a substantial reallocation or growth in less specifically categorized assets. The trend suggests a long-term accumulation or reclassification of assets in this grouping.
- Lease Right-of-Use Asset, Net
- This component remains fairly stable throughout, clustering around 24%–26.7%, with slight reductions towards later periods. It denotes consistent lease-related asset levels reflecting long-term leasing commitments.
- Property and Equipment, at Cost
- The property and equipment balance as a proportion of total assets generally hovers in the range of 75% to 83%, showing minor fluctuations but preserving a dominant share of the asset base. This consistency underscores a capital-intensive asset structure.
- Accumulated Depreciation and Amortization
- This figure is represented as a negative percentage and shows gradual increases in magnitude from about -29% to approximately -35%. The growth in accumulated depreciation reflects ongoing asset usage and systematic amortization over time.
- Net Property and Equipment
- After accounting for depreciation, net property and equipment consistently represents around 44% to 48% of total assets. The slight declines and recoveries in this range demonstrate steady asset utilization and replacement rhythms.
- Long-Term Assets
- Long-term assets command the largest share of total assets, generally between 85% and 92%, with a noticeable upward trend starting in 2023. This trend signifies a strategic emphasis on long-term asset investment or classification, coinciding with declines in current asset proportions.