McDonald's (MCD) FY2011 results: revenue $27.0 billion, up 12.2% on the year
McDonald's Corp. (MCD) reported revenue of $27.0 billion for fiscal 2011, the year ended 31 December 2011, up 12.2% on the year before. Net income was $5.5 billion, up 11.3%, and diluted earnings per share $5.27. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2012.
Revenue
$27.0 billion
+12.2% on the year
FY2007FY2011
Operating margin
31.6%
31.0% a year earlier
FY2007FY2011
Net income
$5.5 billion
+11.3% on the year
FY2007FY2011
Diluted EPS
$5.27
+15.1% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
27,006
24,075
22,745
+12.2%
Selling, general and administrative
2,394
2,333
2,234
+2.6%
Operating income
8,530
7,473
6,841
+14.1%
Operating margin
31.6%
31.0%
30.1%
Interest expense
493
451
473
+9.3%
Income tax
2,509
2,054
1,936
+22.2%
Net income
5,503
4,946
4,551
+11.3%
Net margin
20.4%
20.5%
20.0%
Diluted EPS
$5.27
$4.58
$4.11
+15.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
7,150
6,342
5,751
+12.7%
Capital expenditure
2,730
2,136
1,952
+27.8%
Free cash flow
4,420
4,206
3,799
+5.1%
Free cash flow margin
16.4%
17.5%
16.7%
Cash from investing
-2,571
-2,056
-1,655
Cash from financing
-4,533
-3,729
-4,421
Depreciation and amortisation
1,415
1,276
1,216
+10.9%
Share-based compensation
86.2
83.1
113
+3.7%
Buybacks
3,363
2,698
2,797
+24.6%
Dividends paid
2,610
2,408
2,236
+8.4%
Dividend per share
$2.53
$2.26
$2.05
+11.9%
Diluted shares, weighted
1,045m
1,080m
1,107m
-3.3%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
14,390
14,634
14,034
-1.7%
Debt
12,500
11,505
10,578
+8.6%
Other liabilities
6,099
5,836
5,613
+4.5%
Total liabilities and equity
32,990
31,975
30,225
+3.2%
Fixed assets
22,834
22,061
21,532
+3.5%
Goodwill
2,653
2,586
2,425
+2.6%
Cash and equivalents
2,336
2,387
1,796
-2.1%
Inventory
117
110
106
+6.3%
Other assets
5,050
4,832
4,366
+4.5%
Total assets
32,990
31,975
30,225
+3.2%
10-K for the year ended 31 December 2011, filed 24 February 2012: the filing.