McDonald's (MCD) FY2014 results: revenue $27.4 billion, down 2.4% on the year
McDonald's Corp. (MCD) reported revenue of $27.4 billion for fiscal 2014, the year ended 31 December 2014, down 2.4% on the year before. Net income was $4.8 billion, down 14.8%, and diluted earnings per share $4.82. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2015.
Revenue
$27.4 billion
-2.4% on the year
FY2007FY2014
Operating margin
29.0%
31.2% a year earlier
FY2007FY2014
Net income
$4.8 billion
-14.8% on the year
FY2007FY2014
Diluted EPS
$4.82
-13.2% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
27,441
28,106
27,567
-2.4%
Selling, general and administrative
2,488
2,386
2,455
+4.3%
Operating income
7,949
8,764
8,605
-9.3%
Operating margin
29.0%
31.2%
31.2%
Interest expense
576
528
517
+9.2%
Income tax
2,614
2,619
2,614
-0.2%
Net income
4,758
5,586
5,465
-14.8%
Net margin
17.3%
19.9%
19.8%
Diluted EPS
$4.82
$5.55
$5.36
-13.2%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
6,730
7,121
6,966
-5.5%
Capital expenditure
2,583
2,825
3,049
-8.5%
Free cash flow
4,147
4,296
3,917
-3.5%
Free cash flow margin
15.1%
15.3%
14.2%
Cash from investing
-2,305
-2,674
-3,167
Cash from financing
-4,618
-4,043
-3,850
Depreciation and amortisation
1,644
1,585
1,488
+3.7%
Share-based compensation
113
89.1
93.4
+26.6%
Buybacks
3,199
1,778
2,615
+79.9%
Dividends paid
3,216
3,115
2,897
+3.3%
Dividend per share
$3.28
$3.12
$2.87
+5.1%
Diluted shares, weighted
986m
1,006m
1,020m
-2.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
12,853
16,010
15,294
-19.7%
Debt
14,936
14,130
13,632
+5.7%
Other liabilities
6,492
6,487
6,460
+0.1%
Total liabilities and equity
34,281
36,626
35,386
-6.4%
Fixed assets
24,558
25,747
24,677
-4.6%
Goodwill
2,735
2,873
2,804
-4.8%
Investments
n/a
160
n/a
Cash and equivalents
2,078
2,799
2,336
-25.8%
Inventory
110
124
122
-11.1%
Other assets
4,801
4,924
5,448
-2.5%
Total assets
34,281
36,626
35,386
-6.4%
10-K for the year ended 31 December 2014, filed 24 February 2015: the filing.