MCDMCDONALDS CORP
Retail-Eating Places
- Revenue
- $26.9B
- 3.7% YoY
- Operating margin
- 46.1%
- 2.0% YoY
- EBITDA
- $12.8B
- 5.7% YoY
- Market cap
- $182.7B
- Employees
- 150,000
- $179K revenue each
- Net debt / EBITDA
- 3.0×
- $39.2B net debt
- AI in 10-K
- 1.6
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo2 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$19M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo123% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo68% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo6% of assetsOver 40% of assets
- Shareholder dissentNo95% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$179K · 87th pctBottom quartile of its SIC industry
- Quiet on AINo1.6 per 10K words · 49th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo3.0× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$182.7B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$41M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $23.2B | $23.2B | $25.5B | $25.9B | $26.9B | 3.7% |
| Operating income | $10.4B | $9.4B | $11.6B | $11.7B | $12.4B | 5.8% |
| Net income | $7.5B | $6.2B | $8.5B | $8.2B | $8.6B | 4.1% |
| Operating cash flow | $9.1B | $7.4B | $9.6B | $9.4B | $10.6B | 12% |
| Capex | $2.0B | $1.9B | $2.4B | $2.8B | $3.4B | 21% |
| Stock-based comp | $139M | $167M | $175M | $172M | $165M | 4.1% |
| Buybacks | $846M | $3.9B | $3.1B | $2.8B | $2.1B | 27% |
| Dividends | $3.9B | $4.2B | $4.5B | $4.9B | $5.1B | 5.0% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $41M · 22
- Net
- −$41M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $21M | $18M | 160 | 173 |
| FY2024 | $18M | $13M | 148 | 150 |
| FY2023 | $19M | $37M | 148 | 131 |
| FY2022 | $18M | $30M | 128 | 113 |
| FY2021 | $20M | $40M | 128 | 121 |