McDonald's (MCD) FY2018 results: revenue $21.3 billion, down 6.8% on the year
McDonald's Corp. (MCD) reported revenue of $21.3 billion for fiscal 2018, the year ended 31 December 2018, down 6.8% on the year before. Net income was $5.9 billion, up 14.1%, and diluted earnings per share $7.54. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$21.3 billion
-6.8% on the year
FY2011FY2018
Operating margin
41.5%
41.9% a year earlier
FY2011FY2018
Net income
$5.9 billion
+14.1% on the year
FY2011FY2018
Diluted EPS
$7.54
+18.4% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
21,258
22,820
24,622
-6.8%
Selling, general and administrative
2,200
2,231
2,384
-1.4%
Operating income
8,823
9,553
7,744
-7.6%
Operating margin
41.5%
41.9%
31.5%
Interest expense
981
921
885
+6.5%
Income tax
1,892
3,381
2,180
-44.0%
Net income
5,924
5,192
4,686
+14.1%
Net margin
27.9%
22.8%
19.0%
Diluted EPS
$7.54
$6.37
$5.44
+18.4%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
6,967
5,551
6,060
+25.5%
Capital expenditure
2,742
1,854
1,821
+47.9%
Free cash flow
4,225
3,698
4,238
+14.3%
Free cash flow margin
19.9%
16.2%
17.2%
Cash from investing
-2,455
562
-982
Cash from financing
-5,950
-5,311
-11,262
Depreciation and amortisation
215
1,363
1,516
-84.2%
Share-based compensation
125
118
131
+6.5%
Buybacks
5,208
4,686
11,171
+11.1%
Dividends paid
3,256
3,089
3,058
+5.4%
Dividend per share
$4.19
$3.83
$3.61
+9.4%
Diluted shares, weighted
786m
816m
861m
-3.7%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
-6,258
-3,268
-2,204
Debt
31,075
29,536
25,956
+5.2%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
7,994
7,535
7,272
+6.1%
Total liabilities and equity
32,811
33,804
31,024
-2.9%
Fixed assets
22,843
22,448
21,258
+1.8%
Goodwill
2,332
2,380
2,336
-2.0%
Cash and equivalents
866
2,464
1,223
-64.9%
Inventory
51.1
58.8
58.9
-13.1%
Other assets
6,720
6,453
6,148
+4.1%
Total assets
32,811
33,804
31,024
-2.9%
10-K for the year ended 31 December 2018, filed 22 February 2019: the filing.