Stock Analysis on Net

McDonald’s Corp. (NYSE:MCD)

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Enterprise Value (EV)

Microsoft Excel

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Current Enterprise Value (EV)

McDonald’s Corp., current enterprise value calculation

Microsoft Excel
Current share price (P)
No. shares of common stock outstanding
US$ in thousands
Common equity (market value)1
Add: Preferred stock, no par value; issued: none (per books)
Total equity
Add: Short-term borrowings and current maturities of long-term debt (per books)
Add: Current finance lease liability (per books)
Add: Long-term debt, excluding current maturities (per books)
Add: Long-term finance lease liability (per books)
Total equity and debt
Less: Cash and equivalents
Enterprise value (EV)

Based on: 10-K (reporting date: 2023-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


Historical Enterprise Value (EV)

McDonald’s Corp., EV calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Share price1, 2
No. shares of common stock outstanding1
US$ in thousands
Common equity (market value)3
Add: Preferred stock, no par value; issued: none (book value)
Total equity
Add: Short-term borrowings and current maturities of long-term debt (book value)
Add: Current finance lease liability (book value)
Add: Long-term debt, excluding current maturities (book value)
Add: Long-term finance lease liability (book value)
Total equity and debt
Less: Cash and equivalents
Enterprise value (EV)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of McDonald’s Corp. Annual Report.

3 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. McDonald’s Corp. EV increased from 2021 to 2022 and from 2022 to 2023.