Stock Analysis on Net
Stock Analysis on Net

McDonald’s Corp. (NYSE:MCD)

$24.99

Operating Profit Margin
since 2005

Microsoft Excel

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Calculation

McDonald’s Corp., operating profit margin, long-term trends, calculation

Microsoft Excel
Operating profit margin = 100 × Operating income1 ÷ Revenues1
Dec 31, 2024 = 100 × ÷
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Dec 31, 2005 = 100 × ÷

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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions

Operating Income
The operating income shows a generally increasing trend from 2005 through 2024, starting at 4,022 million USD in 2005 and reaching 11,712 million USD by 2024. There are fluctuations in some years; for example, a notable dip occurred in 2014 with operating income decreasing to 7,146 million USD from previous years. Another decline is observed in 2020, with income falling to 7,324 million USD, possibly reflecting external economic conditions. After this dip, there is a strong recovery with operating income rising sharply to over 11,000 million USD by 2023 and maintaining a similar high level in 2024.
Revenues
Revenues demonstrate a growth pattern up to 2013, peaking around 28,106 million USD in 2013. Following this peak, revenues decline consistently through 2016, reaching a low of approximately 22,820 million USD in 2017. From 2017 onwards, revenues stabilize and then show a gradual upward movement, culminating near 25,920 million USD in 2024. This pattern indicates a period of contraction likely between 2013 and 2017, succeeded by recovery and growth in later years.
Operating Profit Margin
The operating profit margin exhibits significant improvement over the period under review. Starting from 19.66% in 2005, it increases with some variability, reaching a peak around 45.68% in 2023. Notably, large increases are observed post-2012, where the margin climbs above 40%, contrasting with a lower margin range in earlier years where it mostly fluctuated between 17% and 31%. Despite some minor declines in individual years, the overall trend suggests enhanced operational efficiency or better cost management over time.
Overall Analysis
The data indicate a company moving through phases of growth, contraction, and recovery over the past two decades. After steady revenue increases until 2013, there is a period of revenue decline and stabilization, concurrent with fluctuating operating income. Notwithstanding revenue pressures, operating income and profit margins display strength, particularly reflecting improvements in profitability and efficiency. The rising operating profit margin despite revenue challenges suggests a focus on cost control or a shift toward higher-margin operations. The recovery in both operating income and revenues in recent years underscores successful adaptation and resilience.

Comparison to Competitors

McDonald’s Corp., operating profit margin, long-term trends, comparison to competitors

Microsoft Excel
McDonald’s Corp. Airbnb Inc. Booking Holdings Inc. Chipotle Mexican Grill Inc. Starbucks Corp.
Dec 31, 2024
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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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).