Price to Earnings (P/E)
since 2005
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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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Calculation
McDonald’s Corp., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 25, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2018 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2006 | = | ÷ | = | ÷ |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of McDonald’s Corp. Annual Report.
- Share Price Trend
- The share price exhibited a general upward trajectory over the analyzed period. Starting from $35.25 in 2006, it showed moderate increases interspersed with some fluctuations until 2010, when it rose from $63.85 to $74.44. Significant growth was observed from 2010 onwards, with the price surpassing $100 in 2012. Despite some minor declines and stagnation between 2012 and 2015, the price resumed its ascent, reaching $163.06 in 2018 and further climbing to $310.72 by 2025. The overall pattern indicates strong market confidence and consistent value appreciation.
- Earnings per Share (EPS) Trend
- EPS showed variability with an overall upward trend across the years. Initial values fluctuated, starting at $2.07 in 2006, with a notable dip to $2.08 in 2008 after reaching $2.94 in 2007. From 2009 onward, EPS generally increased, peaking at $8.08 in 2020. However, there was a noticeable decline to $6.34 in 2021 followed by recovery and a higher peak of $11.73 in 2023. The slightly lower EPS of $11.51 in 2025 suggests a small pullback after reaching the peak. These fluctuations point to variable profitability but strong growth in earnings per share over time.
- Price-to-Earnings (P/E) Ratio Dynamics
- The P/E ratio demonstrated considerable volatility throughout the period. Initially, it hovered around mid-teens, starting at 17.02 in 2006 and dropping to 14.02 by 2009, likely reflecting lower valuations or improved earnings during that time. Post-2010, the ratio increased substantially, often exceeding 20 and peaking at 33.31 in 2020, signaling that the market priced the stock at a premium relative to earnings. Subsequent years showed fluctuations with ratios between approximately 24 and 31, ending at 27 in 2025. This indicates market optimism but also increased valuation sensitivity to earnings changes.
Comparison to Competitors
McDonald’s Corp., P/E, long-term trends, comparison to competitors
| McDonald’s Corp. | Airbnb Inc. | Booking Holdings Inc. | Chipotle Mexican Grill Inc. | Starbucks Corp. | |
|---|---|---|---|---|---|
| Feb 25, 2025 | |||||
| Feb 22, 2024 | |||||
| Feb 24, 2023 | |||||
| Feb 24, 2022 | |||||
| Feb 23, 2021 | |||||
| Feb 26, 2020 | |||||
| Feb 22, 2019 | |||||
| Feb 23, 2018 | |||||
| Mar 1, 2017 | |||||
| Feb 25, 2016 | |||||
| Feb 24, 2015 | |||||
| Feb 24, 2014 | |||||
| Feb 25, 2013 | |||||
| Feb 24, 2012 | |||||
| Feb 25, 2011 | |||||
| Feb 26, 2010 | |||||
| Feb 25, 2009 | |||||
| Feb 25, 2008 | |||||
| Feb 26, 2007 | |||||
| Feb 27, 2006 |
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).
Comparison to Sector (Consumer Services)
McDonald’s Corp., P/E, long-term trends, comparison to sector (consumer services)
| McDonald’s Corp. | Consumer Services | |
|---|---|---|
| Feb 25, 2025 | ||
| Feb 22, 2024 | ||
| Feb 24, 2023 | ||
| Feb 24, 2022 | ||
| Feb 23, 2021 | ||
| Feb 26, 2020 | ||
| Feb 22, 2019 | ||
| Feb 23, 2018 | ||
| Mar 1, 2017 | ||
| Feb 25, 2016 | ||
| Feb 24, 2015 | ||
| Feb 24, 2014 | ||
| Feb 25, 2013 | ||
| Feb 24, 2012 | ||
| Feb 25, 2011 | ||
| Feb 26, 2010 | ||
| Feb 25, 2009 | ||
| Feb 25, 2008 | ||
| Feb 26, 2007 | ||
| Feb 27, 2006 |
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).
Comparison to Industry (Consumer Discretionary)
McDonald’s Corp., P/E, long-term trends, comparison to industry (consumer discretionary)
| McDonald’s Corp. | Consumer Discretionary | |
|---|---|---|
| Feb 25, 2025 | ||
| Feb 22, 2024 | ||
| Feb 24, 2023 | ||
| Feb 24, 2022 | ||
| Feb 23, 2021 | ||
| Feb 26, 2020 | ||
| Feb 22, 2019 | ||
| Feb 23, 2018 | ||
| Mar 1, 2017 | ||
| Feb 25, 2016 | ||
| Feb 24, 2015 | ||
| Feb 24, 2014 | ||
| Feb 25, 2013 | ||
| Feb 24, 2012 | ||
| Feb 25, 2011 | ||
| Feb 26, 2010 | ||
| Feb 25, 2009 | ||
| Feb 25, 2008 | ||
| Feb 26, 2007 | ||
| Feb 27, 2006 |
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).