McDonald's (MCD) FY2023 results: revenue $25.5 billion, up 10.0% on the year
McDonald's Corp. (MCD) reported revenue of $25.5 billion for fiscal 2023, the year ended 31 December 2023, up 10.0% on the year before. Net income was $8.5 billion, up 37.1%, and diluted earnings per share $11.56. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$25.5 billion
+10.0% on the year
FY2016FY2023
Operating margin
45.7%
40.4% a year earlier
FY2016FY2023
Net income
$8.5 billion
+37.1% on the year
FY2016FY2023
Diluted EPS
$11.56
+38.8% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
9,612
7,387
9,142
+30.1%
Capital expenditure
2,357
1,899
2,040
+24.1%
Free cash flow
7,254
5,488
7,102
+32.2%
Free cash flow margin
28.5%
23.7%
30.6%
Cash from investing
-3,184
-2,678
-2,166
Cash from financing
-4,374
-6,580
-5,596
Depreciation and amortisation
382
370
330
+3.1%
Share-based compensation
175
167
139
+5.1%
Buybacks
3,054
3,896
846
-21.6%
Dividends paid
4,533
4,168
3,919
+8.7%
Dividend per share
$6.23
$5.66
$5.25
+10.1%
Diluted shares, weighted
732m
741m
752m
-1.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
-4,707
-6,003
-4,601
Short-term borrowings
2,192
0.0
n/a
Debt
39,345
35,904
35,623
+9.6%
Operating lease liabilities
13,058
12,134
13,021
+7.6%
Other liabilities
6,258
8,401
9,812
-25.5%
Total liabilities and equity
56,147
50,436
53,854
+11.3%
Fixed assets
24,908
23,774
24,721
+4.8%
Goodwill
3,040
2,900
2,782
+4.8%
Cash and equivalents
4,579
2,584
4,709
+77.2%
Inventory
53.0
52.0
55.6
+1.9%
Other assets
23,566
21,126
21,586
+11.6%
Total assets
56,147
50,436
53,854
+11.3%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.