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, 2024 = 100 × ÷
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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).

1 US$ in millions

Net Income
The net income exhibits a generally upward trend from 2005 through 2019, starting at 2,602 million USD and reaching a peak of 6,025 million USD in 2019. Following this peak, there is a notable decline in 2020 to 4,731 million USD, likely influenced by external factors during that period. However, net income rebounds strongly in 2021 to 7,545 million USD, before experiencing some volatility in subsequent years, decreasing to 6,177 million USD in 2022 and rising again to 8,469 million USD in 2023, then slightly declining to 8,223 million USD in 2024. Overall, the data points to sustained profitability with fluctuations that may reflect external economic conditions or company-specific events.
Total Assets
Total assets maintain a relatively stable trajectory with moderate growth from 2005 (29,989 million USD) to 2019 (47,511 million USD). Post-2019, assets rise sharply, peaking at 53,854 million USD in 2021. A minor decline follows in 2022 to 50,436 million USD, but assets increase again to 56,147 million USD in 2023 before slightly falling to 55,182 million USD in 2024. The asset base expansion indicates ongoing investment and growth strategies, despite some short-term adjustments.
Return on Assets (ROA)
ROA demonstrates variability but remains robust throughout the period. Initially, there is a rise from 8.68% in 2005 to 15.15% in 2008, reflecting improved efficiency or profitability relative to asset base. After fluctuating mildly, ROA peaks at 18.06% in 2018. The metric then declines to 8.99% in 2020, coinciding with lower net income likely due to external disruptions. Recovery is apparent with ROA climbing back to approximately 15% in 2023 and 2024, indicating restoration of asset utilization effectiveness.
Overall Financial Trends
The company demonstrates a pattern of steady growth in net income and total assets over the long term, punctuated by short-term disruptions around 2020. Recovery trends in profitability and asset efficiency metrics in subsequent years underscore resilience. The fluctuations in ROA parallel changes in net income, suggesting that profitability shifts impact the efficiency of asset use. The overall financial health appears solid, with indications of strategic investment and successful management of returns despite external challenges.

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. 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).

Comparison to Sector (Consumer Services)

McDonald’s Corp., ROA, long-term trends, comparison to sector (consumer services)

Microsoft Excel
McDonald’s Corp. Consumer Services
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
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Dec 31, 2005

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., ROA, long-term trends, comparison to industry (consumer discretionary)

Microsoft Excel
McDonald’s Corp. Consumer Discretionary
Dec 31, 2024
Dec 31, 2023
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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).