McDonald's (MCD) FY2020 results: revenue $19.2 billion, down 10.1% on the year
McDonald's Corp. (MCD) reported revenue of $19.2 billion for fiscal 2020, the year ended 31 December 2020, down 10.1% on the year before. Net income was $4.7 billion, down 21.5%, and diluted earnings per share $6.31. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$19.2 billion
-10.1% on the year
FY2013FY2020
Operating margin
38.1%
42.5% a year earlier
FY2013FY2020
Net income
$4.7 billion
-21.5% on the year
FY2013FY2020
Diluted EPS
$6.31
-19.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
19,208
21,364
21,258
-10.1%
Selling, general and administrative
n/a
2,229
2,200
Operating income
7,324
9,070
8,823
-19.2%
Operating margin
38.1%
42.5%
41.5%
Interest expense
1,218
1,122
981
+8.6%
Income tax
1,410
1,993
1,892
-29.2%
Net income
4,730
6,025
5,924
-21.5%
Net margin
24.6%
28.2%
27.9%
Diluted EPS
$6.31
$7.88
$7.54
-19.9%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
6,265
8,122
6,967
-22.9%
Capital expenditure
1,641
2,394
2,742
-31.5%
Free cash flow
4,624
5,728
4,225
-19.3%
Free cash flow margin
24.1%
26.8%
19.9%
Cash from investing
-1,546
-3,071
-2,455
Cash from financing
-2,249
-4,995
-5,950
Depreciation and amortisation
301
262
215
+14.5%
Share-based compensation
92.4
110
125
-15.7%
Buybacks
908
4,976
5,208
-81.8%
Dividends paid
3,753
3,582
3,256
+4.8%
Dividend per share
$5.04
$4.73
$4.19
+6.6%
Diluted shares, weighted
750m
765m
786m
-1.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
-7,825
-8,210
-6,258
Short-term borrowings
n/a
0.0
n/a
Debt
37,440
34,177
31,075
+9.5%
Operating lease liabilities
13,321
12,758
0.0
+4.4%
Other liabilities
9,690
8,786
7,994
+10.3%
Total liabilities and equity
52,627
47,511
32,811
+10.8%
Fixed assets
24,958
24,160
22,843
+3.3%
Goodwill
2,773
2,677
2,332
+3.6%
Cash and equivalents
3,449
898
866
+283.9%
Inventory
51.1
50.2
51.1
+1.8%
Other assets
21,395
19,725
6,720
+8.5%
Total assets
52,627
47,511
32,811
+10.8%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.