Stock Analysis on Net

McDonald’s Corp. (NYSE:MCD)

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

McDonald’s Corp., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Sales by Company-owned and operated restaurants 2,310 2,656 2,461 2,355 2,474 2,556 2,487 2,224 2,208 2,125 2,113 2,302 2,539 2,598 2,489 2,162 2,233 2,286 1,594 2,026
Revenues from franchised restaurants 3,958 4,094 3,940 3,723 3,869 4,047 3,933 3,588 3,645 3,671 3,527 3,263 3,392 3,510 3,306 2,877 2,985 3,045 2,088 2,608
Other revenues 120 123 89 91 64 89 77 86 73 76 79 100 79 93 93 86 95 87 80 81
Revenues 6,388 6,873 6,490 6,169 6,406 6,692 6,498 5,898 5,927 5,872 5,718 5,666 6,009 6,201 5,888 5,125 5,314 5,418 3,762 4,714
Company-owned and operated restaurant expenses (1,978) (2,248) (2,074) (2,035) (2,075) (2,135) (2,091) (1,923) (1,872) (1,780) (1,770) (1,959) (2,100) (2,108) (2,021) (1,818) (1,904) (1,876) (1,448) (1,753)
Franchised restaurants, occupancy expenses (634) (646) (629) (627) (633) (625) (618) (598) (588) (589) (589) (584) (592) (593) (579) (572) (561) (568) (525) (554)
Other restaurant expenses (98) (104) (69) (68) (45) (68) (57) (63) (57) (57) (58) (72) (56) (69) (68) (67) (69) (69) (63) (66)
Gross margin 3,678 3,875 3,718 3,439 3,654 3,864 3,731 3,314 3,409 3,446 3,302 3,050 3,261 3,431 3,220 2,668 2,780 2,905 1,725 2,342
Depreciation and amortization (136) (111) (101) (99) (91) (97) (95) (99) (91) (93) (93) (93) (87) (84) (83) (76) (80) (76) (71) (74)
Other (664) (536) (590) (622) (731) (584) (568) (553) (720) (576) (611) (584) (755) (560) (572) (490) (698) (455) (576) (516)
Selling, general & administrative expenses (800) (647) (691) (721) (821) (680) (663) (653) (812) (670) (704) (677) (842) (644) (656) (566) (778) (531) (647) (590)
Other operating income (expense), net (10) (40) (107) 18 (31) 25 36 (129) (15) (13) (886) (61) (22) 199 127 179 141 152 (117) (59)
Operating income 2,868 3,188 2,920 2,736 2,802 3,208 3,104 2,532 2,583 2,764 1,712 2,313 2,397 2,987 2,691 2,281 2,143 2,526 961 1,694
Interest expense (380) (381) (373) (372) (360) (341) (330) (330) (323) (306) (291) (287) (296) (294) (297) (300) (309) (310) (319) (280)
Nonoperating income (expense), net 50 36 8 45 73 56 43 64 79 79 (12) (484) 6 (1) (19) (29) (4) 1 7 31
Income before provision for income taxes 2,538 2,843 2,555 2,409 2,515 2,924 2,817 2,267 2,339 2,536 1,409 1,541 2,108 2,691 2,376 1,953 1,830 2,217 649 1,445
Provision for income taxes (521) (588) (533) (480) (476) (606) (506) (465) (436) (555) (221) (437) (469) (542) (157) (416) (453) (455) (165) (338)
Net income 2,017 2,255 2,022 1,929 2,039 2,317 2,310 1,802 1,903 1,982 1,188 1,104 1,639 2,150 2,219 1,537 1,377 1,763 484 1,107

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Income statement item Description The company
Revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. McDonald’s Corp. revenues increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.
Operating income The net result for the period of deducting operating expenses from operating revenues. McDonald’s Corp. operating income increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.
Income before provision for income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. McDonald’s Corp. income before provision for income taxes increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. McDonald’s Corp. net income increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.