Stock Analysis on Net
Stock Analysis on Net

McDonald’s Corp. (NYSE:MCD)

$24.99

Return on Assets (ROA)
since 2005

Microsoft Excel

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Calculation

McDonald’s Corp., ROA, long-term trends, calculation

Microsoft Excel
ROA = 100 × Net income1 ÷ Total assets1
Dec 31, 2025 = 100 × ÷
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Dec 31, 2005 = 100 × ÷

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.

Comparison to Competitors

McDonald’s Corp., ROA, long-term trends, comparison to competitors

Microsoft Excel
McDonald’s Corp. Airbnb Inc. Booking Holdings Inc. Chipotle Mexican Grill Inc. DoorDash, Inc. Starbucks Corp.
Dec 31, 2025
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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)

Microsoft Excel
McDonald’s Corp. Consumer Services
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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)

Microsoft Excel
McDonald’s Corp. Consumer Discretionary
Dec 31, 2025
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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).