Stock Analysis on Net

McDonald’s Corp. (NYSE:MCD)

Enterprise Value (EV)

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Current Enterprise Value (EV)

McDonald’s Corp., current enterprise value calculation

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Current share price (P) $254.59
No. shares of common stock outstanding 747,245,427
US$ in thousands
Common equity (market value)1 190,241,213 
Add: Preferred stock, no par value; none issued (per books) — 
Total equity 190,241,213 
Add: Current maturities of long-term debt (per books) 2,243,600 
Add: Long-term debt, excluding current maturities (per books) 35,196,800 
Total equity and debt 227,681,613 
Less: Cash and equivalents 3,449,100 
Enterprise value (EV) 224,232,513 

Based on: 10-K (reporting date: 2020-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 254.59 × 747,245,427


Historical Enterprise Value (EV)

McDonald’s Corp., EV calculation

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Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Share price1, 2 $211.32 $210.10 $183.17 $163.06 $129.05
No. shares of common stock outstanding1 745,572,145 745,446,655 765,317,332 794,497,880 818,993,182
US$ in thousands
Common equity (market value)3 157,554,306  156,618,342  140,183,176  129,550,824  105,691,070 
Add: Preferred stock, no par value; none issued (book value) —  —  —  —  — 
Total equity 157,554,306  156,618,342  140,183,176  129,550,824  105,691,070 
Add: Current maturities of long-term debt (book value) 2,243,600  59,100  —  —  77,200 
Add: Long-term debt, excluding current maturities (book value) 35,196,800  34,118,100  31,075,300  29,536,400  25,878,500 
Total equity and debt 194,994,706  190,795,542  171,258,476  159,087,224  131,646,770 
Less: Cash and equivalents 3,449,100  898,500  866,000  2,463,800  1,223,400 
Enterprise value (EV) 191,545,606  189,897,042  170,392,476  156,623,424  130,423,370 

Based on: 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).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of McDonald’s Corp. Annual Report.

3 2020 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 211.32 × 745,572,145

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. McDonald’s Corp. EV increased from 2018 to 2019 and from 2019 to 2020.