Return on Assets (ROA)
since 2005
Calculation
McDonald’s Corp., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 14.39% | = | 100 | × | 8,563) | ÷ | 59,515) |
| Dec 31, 2024 | 14.90% | = | 100 | × | 8,223) | ÷ | 55,182) |
| Dec 31, 2023 | 15.08% | = | 100 | × | 8,469) | ÷ | 56,147) |
| Dec 31, 2022 | 12.25% | = | 100 | × | 6,177) | ÷ | 50,436) |
| Dec 31, 2021 | 14.01% | = | 100 | × | 7,545) | ÷ | 53,854) |
| Dec 31, 2020 | 8.99% | = | 100 | × | 4,731) | ÷ | 52,627) |
| Dec 31, 2019 | 12.68% | = | 100 | × | 6,025) | ÷ | 47,511) |
| Dec 31, 2018 | 18.06% | = | 100 | × | 5,924) | ÷ | 32,811) |
| Dec 31, 2017 | 15.36% | = | 100 | × | 5,192) | ÷ | 33,804) |
| Dec 31, 2016 | 15.11% | = | 100 | × | 4,687) | ÷ | 31,024) |
| Dec 31, 2015 | 11.94% | = | 100 | × | 4,529) | ÷ | 37,939) |
| Dec 31, 2014 | 13.88% | = | 100 | × | 4,758) | ÷ | 34,281) |
| Dec 31, 2013 | 15.25% | = | 100 | × | 5,586) | ÷ | 36,626) |
| Dec 31, 2012 | 15.44% | = | 100 | × | 5,465) | ÷ | 35,387) |
| Dec 31, 2011 | 16.68% | = | 100 | × | 5,503) | ÷ | 32,990) |
| Dec 31, 2010 | 15.47% | = | 100 | × | 4,946) | ÷ | 31,975) |
| Dec 31, 2009 | 15.06% | = | 100 | × | 4,551) | ÷ | 30,225) |
| Dec 31, 2008 | 15.15% | = | 100 | × | 4,313) | ÷ | 28,462) |
| Dec 31, 2007 | 8.15% | = | 100 | × | 2,395) | ÷ | 29,392) |
| Dec 31, 2006 | 12.21% | = | 100 | × | 3,544) | ÷ | 29,024) |
| Dec 31, 2005 | 8.68% | = | 100 | × | 2,602) | ÷ | 29,989) |
Based on: 10-K (reporting date: 2025-12-31), 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
The Return on Assets (ROA) exhibited considerable fluctuation over the period examined, generally trending upwards with notable peaks and valleys. Initial values demonstrated a strong performance, followed by periods of both expansion and contraction. A review of the period reveals distinct phases in the company’s profitability relative to its asset base.
- Initial Growth & Volatility (2005-2009)
- From 2005 to 2009, ROA increased from 8.68% to 15.06%. This period began with a solid ROA, experienced a dip in 2007, and then demonstrated substantial growth, peaking in 2008 and 2009. This suggests effective asset utilization and strong profitability during these years, despite economic challenges present in 2008.
- Sustained High Performance (2010-2012)
- The years 2010 through 2012 saw ROA remain consistently high, fluctuating between 15.47% and 16.68%. This indicates a sustained ability to generate earnings from its asset base. While there was a slight decrease from 2011 to 2012, the values remained well above the initial levels observed in 2005.
- Moderate Decline & Stabilization (2013-2016)
- A moderate decline in ROA was observed between 2013 and 2016, moving from 15.25% to 15.11% and then to 11.94% before recovering slightly to 15.11%. This period suggests potential challenges in maintaining the high levels of profitability achieved previously, possibly due to increased asset levels or decreased net income.
- Recent Fluctuations & Expansion (2017-2025)
- From 2017 onwards, ROA experienced more pronounced fluctuations. A peak of 18.06% was reached in 2018, followed by a decrease in 2019. The year 2020 saw a significant drop to 8.99%, likely influenced by external factors such as the global pandemic. A strong recovery occurred in 2021, reaching 14.01%, followed by 12.25% in 2022, and then stabilizing around 15.08% in 2023 and 14.39% in 2024 and 2025. This recent volatility highlights the company’s sensitivity to external economic conditions and its ability to adapt and recover.
Overall, the company demonstrated a generally positive trend in ROA over the long term, despite periods of volatility. The ability to consistently achieve ROA values above 10% suggests effective management of assets and a strong capacity for generating profits. The recent fluctuations warrant continued monitoring to assess the sustainability of the recovery and the impact of future economic conditions.
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Comparison to Competitors
McDonald’s Corp., ROA, long-term trends, comparison to competitors
| McDonald’s Corp. | Airbnb Inc. | Booking Holdings Inc. | Chipotle Mexican Grill Inc. | DoorDash, Inc. | Starbucks Corp. | |
|---|---|---|---|---|---|---|
| Dec 31, 2025 | 14.39% | 11.31% | 18.47% | 17.07% | 4.76% | 5.80% |
| Dec 31, 2024 | 14.90% | 12.63% | 21.23% | 16.67% | 0.96% | 12.00% |
| Dec 31, 2023 | 15.08% | 23.21% | 17.62% | 15.27% | -5.15% | 14.01% |
| Dec 31, 2022 | 12.25% | 11.80% | 12.06% | 12.98% | -13.94% | 11.73% |
| Dec 31, 2021 | 14.01% | -2.57% | 4.93% | 9.81% | -6.87% | 13.38% |
| Dec 31, 2020 | 8.99% | -43.70% | 0.27% | 5.95% | -7.26% | 3.16% |
| Dec 31, 2019 | 12.68% | — | 22.73% | 6.86% | — | 18.73% |
| Dec 31, 2018 | 18.06% | — | 17.62% | 7.79% | — | 18.70% |
| Dec 31, 2017 | 15.36% | — | 9.20% | 8.62% | — | 20.08% |
| Dec 31, 2016 | 15.11% | — | 10.76% | 1.13% | — | 19.66% |
| Dec 31, 2015 | 11.94% | — | 14.65% | 17.45% | — | 22.15% |
| Dec 31, 2014 | 13.88% | — | 16.21% | 17.49% | — | 19.23% |
| Dec 31, 2013 | 15.25% | — | 18.12% | 16.30% | — | 0.07% |
| Dec 31, 2012 | 15.44% | — | 21.61% | 16.66% | — | 16.84% |
| Dec 31, 2011 | 16.68% | — | 26.60% | 15.08% | — | 16.92% |
| Dec 31, 2010 | 15.47% | — | 18.15% | 15.96% | — | 14.81% |
| Dec 31, 2009 | 15.06% | — | 26.69% | 13.19% | — | 7.01% |
| Dec 31, 2008 | 15.15% | — | 14.40% | 9.48% | — | 5.56% |
| Dec 31, 2007 | 8.15% | — | 11.63% | 9.77% | — | 12.59% |
| Dec 31, 2006 | 12.21% | — | 6.74% | 6.86% | — | 12.74% |
| Dec 31, 2005 | 8.68% | — | 25.56% | 9.60% | — | 14.07% |
Based on: 10-K (reporting date: 2025-12-31), 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., ROA, long-term trends, comparison to sector (consumer services)
| McDonald’s Corp. | Consumer Services | |
|---|---|---|
| Dec 31, 2025 | 14.39% | 12.12% |
| Dec 31, 2024 | 14.90% | 14.10% |
| Dec 31, 2023 | 15.08% | 14.95% |
| Dec 31, 2022 | 12.25% | 10.21% |
| Dec 31, 2021 | 14.01% | 9.37% |
| Dec 31, 2020 | 8.99% | 0.81% |
| Dec 31, 2019 | 12.68% | 15.92% |
| Dec 31, 2018 | 18.06% | 17.84% |
| Dec 31, 2017 | 15.36% | 14.00% |
| Dec 31, 2016 | 15.11% | 14.37% |
| Dec 31, 2015 | 11.94% | 14.62% |
| Dec 31, 2014 | 13.88% | 15.50% |
| Dec 31, 2013 | 15.25% | 12.90% |
| Dec 31, 2012 | 15.44% | 16.48% |
| Dec 31, 2011 | 16.68% | 17.53% |
| Dec 31, 2010 | 15.47% | 15.57% |
| Dec 31, 2009 | 15.06% | 14.40% |
| Dec 31, 2008 | 15.15% | 13.50% |
| Dec 31, 2007 | 8.15% | 8.95% |
| Dec 31, 2006 | 12.21% | 12.01% |
| Dec 31, 2005 | 8.68% | 9.60% |
Based on: 10-K (reporting date: 2025-12-31), 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., ROA, long-term trends, comparison to industry (consumer discretionary)
| McDonald’s Corp. | Consumer Discretionary | |
|---|---|---|
| Dec 31, 2025 | 14.39% | 6.71% |
| Dec 31, 2024 | 14.90% | 8.12% |
| Dec 31, 2023 | 15.08% | 7.57% |
| Dec 31, 2022 | 12.25% | 4.81% |
| Dec 31, 2021 | 14.01% | 7.99% |
| Dec 31, 2020 | 8.99% | 4.36% |
| Dec 31, 2019 | 12.68% | 5.57% |
| Dec 31, 2018 | 18.06% | 5.96% |
| Dec 31, 2017 | 15.36% | 4.05% |
| Dec 31, 2016 | 15.11% | 5.57% |
| Dec 31, 2015 | 11.94% | 6.25% |
| Dec 31, 2014 | 13.88% | 4.75% |
| Dec 31, 2013 | 15.25% | 5.52% |
| Dec 31, 2012 | 15.44% | 5.65% |
| Dec 31, 2011 | 16.68% | 9.48% |
| Dec 31, 2010 | 15.47% | 6.05% |
| Dec 31, 2009 | 15.06% | 4.67% |
| Dec 31, 2008 | 15.15% | 0.21% |
| Dec 31, 2007 | 8.15% | 2.85% |
| Dec 31, 2006 | 12.21% | 0.60% |
| Dec 31, 2005 | 8.68% | 3.80% |
Based on: 10-K (reporting date: 2025-12-31), 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).