McDonald's (MCD) FY2021 results: revenue $23.2 billion, up 20.9% on the year
McDonald's Corp. (MCD) reported revenue of $23.2 billion for fiscal 2021, the year ended 31 December 2021, up 20.9% on the year before. Net income was $7.5 billion, up 59.5%, and diluted earnings per share $10.04. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2022.
Revenue
$23.2 billion
+20.9% on the year
FY2014FY2021
Operating margin
44.6%
38.1% a year earlier
FY2014FY2021
Net income
$7.5 billion
+59.5% on the year
FY2014FY2021
Diluted EPS
$10.04
+59.1% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
9,142
6,265
8,122
+45.9%
Capital expenditure
2,040
1,641
2,394
+24.3%
Free cash flow
7,102
4,624
5,728
+53.6%
Free cash flow margin
30.6%
24.1%
26.8%
Cash from investing
-2,166
-1,546
-3,071
Cash from financing
-5,596
-2,249
-4,995
Depreciation and amortisation
330
301
262
+9.7%
Share-based compensation
139
92.4
110
+50.6%
Buybacks
846
908
4,976
-6.9%
Dividends paid
3,919
3,753
3,582
+4.4%
Dividend per share
$5.25
$5.04
$4.73
+4.2%
Diluted shares, weighted
752m
750m
765m
+0.2%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
-4,601
-7,825
-8,210
Short-term borrowings
n/a
n/a
0.0
Debt
35,623
37,440
34,177
-4.9%
Operating lease liabilities
13,021
13,321
12,758
-2.3%
Other liabilities
9,812
9,690
8,786
+1.3%
Total liabilities and equity
53,854
52,627
47,511
+2.3%
Fixed assets
24,721
24,958
24,160
-1.0%
Goodwill
2,782
2,773
2,677
+0.3%
Cash and equivalents
4,709
3,449
898
+36.5%
Inventory
55.6
51.1
50.2
+8.8%
Other assets
21,586
21,395
19,725
+0.9%
Total assets
53,854
52,627
47,511
+2.3%
10-K for the year ended 31 December 2021, filed 24 February 2022: the filing.