McDonald's (MCD) FY2017 results: revenue $22.8 billion, down 7.3% on the year
McDonald's Corp. (MCD) reported revenue of $22.8 billion for fiscal 2017, the year ended 31 December 2017, down 7.3% on the year before. Net income was $5.2 billion, up 10.8%, and diluted earnings per share $6.37. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2018.
Revenue
$22.8 billion
-7.3% on the year
FY2010FY2017
Operating margin
41.9%
31.5% a year earlier
FY2010FY2017
Net income
$5.2 billion
+10.8% on the year
FY2010FY2017
Diluted EPS
$6.37
+17.1% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
22,820
24,622
25,413
-7.3%
Selling, general and administrative
2,231
2,384
2,434
-6.4%
Operating income
9,553
7,744
7,146
+23.3%
Operating margin
41.9%
31.5%
28.1%
Interest expense
921
885
638
+4.1%
Income tax
3,381
2,180
2,026
+55.1%
Net income
5,192
4,686
4,529
+10.8%
Net margin
22.8%
19.0%
17.8%
Diluted EPS
$6.37
$5.44
$4.80
+17.1%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
5,551
6,060
6,539
-8.4%
Capital expenditure
1,854
1,821
1,814
+1.8%
Free cash flow
3,698
4,238
4,725
-12.8%
Free cash flow margin
16.2%
17.2%
18.6%
Cash from investing
562
-982
-1,420
Cash from financing
-5,311
-11,262
735
Depreciation and amortisation
1,363
1,516
1,556
-10.1%
Share-based compensation
118
131
110
-10.5%
Buybacks
4,686
11,171
6,099
-58.1%
Dividends paid
3,089
3,058
3,230
+1.0%
Dividend per share
$3.83
$3.61
$3.44
+6.1%
Diluted shares, weighted
816m
861m
945m
-5.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
-3,268
-2,204
7,088
Debt
29,536
25,956
24,122
+13.8%
Other liabilities
7,535
7,272
6,729
+3.6%
Total liabilities and equity
33,804
31,024
37,939
+9.0%
Fixed assets
22,448
21,258
23,118
+5.6%
Goodwill
2,380
2,336
2,516
+1.8%
Cash and equivalents
2,464
1,223
7,686
+101.4%
Inventory
58.8
58.9
100
-0.2%
Other assets
6,453
6,148
4,519
+5.0%
Total assets
33,804
31,024
37,939
+9.0%
10-K for the year ended 31 December 2017, filed 23 February 2018: the filing.