Common-Size Balance Sheet: Assets
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McDonald’s Corp. pages available for free this week:
- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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McDonald’s Corp., common-size consolidated balance sheet: assets
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).
- Cash and equivalents
- The proportion of cash and equivalents relative to total assets exhibited notable volatility over the observed period. It increased from 6.55% in 2020 to a peak of 8.74% in 2021, then declined sharply to 1.97% by 2024, suggesting a substantial reduction in liquid assets as a percentage of the asset base in the most recent year.
- Accounts and notes receivable
- This category remained relatively stable, fluctuating modestly between 3.48% and 4.43% over the five-year span. The values suggest consistent management of receivables relative to total assets, with no significant upward or downward trend.
- Inventories, at cost, not in excess of market
- Inventories consistently accounted for a very small fraction of total assets, remaining around 0.1% throughout all years, indicating minimal investment or low inventory levels relative to overall assets.
- Prepaid expenses and other current assets
- This component showed a gradual upward trend, rising from 1.2% in 2020 to 1.95% in 2024. This increase indicates a higher allocation towards prepaid or other current assets as a proportion of total assets.
- Current assets
- The overall percentage of current assets relative to total assets demonstrated fluctuation, increasing from 11.86% in 2020 to 14.22% in 2023 before decreasing sharply to 8.33% in 2024. This suggests a reduction in short-term asset allocation in the latest year after a period of growth.
- Investments in and advances to affiliates
- The share of investments and advances to affiliates decreased steadily from 2.46% in 2020 to 1.92% in 2023, then rose sharply to 4.91% in 2024, indicating a significant increase in related-party investments or loans in the most recent year.
- Goodwill
- Goodwill as a proportion of total assets remained relatively stable, fluctuating narrowly between 5.17% and 5.75% over the five years, which points to consistent intangible asset valuation relative to total assets.
- Miscellaneous
- This category exhibited continuous growth from 6.7% in 2020 to 11.04% in 2024, indicating an increasing allocation or recognition of miscellaneous assets proportionate to the total asset base.
- Other assets
- There was a marked increase in other assets, rising from 14.44% to 21.65% over the period, reflecting a growing share of these assets within the company's structure.
- Operating lease right-of-use asset, net
- The relative size of operating lease right-of-use assets declined steadily from 26.28% in 2020 to 20.51% in 2024, suggesting a reduction in the company's operating lease obligations or a reclassification of associated assets.
- Net property and equipment
- Net property and equipment showed minor fluctuations but remained the largest single asset category, ranging from 44.36% to 47.42%. This indicates stable investment in physical long-lived assets relative to total assets.
- Finance lease right-of-use asset, net
- This asset class appeared starting in 2022 at 3%, then increased modestly to 3.66% by 2024, representing a growing recognition or classification of finance lease right-of-use assets.
- Net property and equipment, including finance lease right-of-use asset
- When combined with finance lease right-of-use assets, this category increased from 47.42% in 2020 to nearly 49.5% in 2024, reflecting a slight growth in tangible asset representation.
- Long-term assets
- The proportion of long-term assets declined from 88.14% in 2020 to a low of 85.78% in 2023, before rising again to 91.67% in 2024. This indicates variability in the company's investment in long-term assets, with a notable increase in the latest year.
- Total assets
- All asset categories are expressed as percentages summing to 100% for each year, providing a comprehensive composition view without changes in total asset size percentage.