MCDONALDS CORP
MCD · NYSE · CIK 0000063908
SIC 5812
Retail-Eating Places
Category
Retail
Entity
operating
Incorp.
DE
Fiscal Y/E
1231
Source: SEC EDGAR · All filings on SEC →
Investment Indicators
$274.60
-1.15 (-0.42%)
Open
$275.83
High
$276.74
Low
$271.98
Prev Close
$275.75
Volume
5,014,873
52W High
$339.85
52W Low
$278.64
50-day MA
$310.94
Quote as of: 2026-05-11
Market Cap
$201.66B
P/E
23.72
P/B
146.07
PEG
2.55
EPS
11.96
BPS
-2.52
Dividend Yield
0.00%
Beta
0.44
ROE
-478.11%
ROA
14.39%
Current Ratio
0.95
Operating Margin
46.10%
Net Margin
31.85%
Intrinsic Value Estimates
Multiple valuation methods, each with its own assumptions — outputs can diverge widely
Median consensus (5 methods)
$128.44B
| Method | Implied market cap | vs current |
|---|---|---|
Graham Number √(22.5 × 순이익 × 자본) | — | 순이익 또는 자본이 0 이하 |
Graham Formula 순이익 × (8.5 + 2 × 성장률%) | $143.60B | +40% |
Justified P/E 순이익 × 산업 평균 P/E | $128.44B | +57% |
P/B 배수 자본 × 산업 평균 P/B | — | 자본이 0 이하 |
P/S 배수 매출 × 산업 평균 P/S | $53.77B | +275% |
DCF (Gordon) CF × (1+g) / (r − g) | $153.81B | +31% |
DDM (Gordon) D × (1+g) / (r − g) | $109.48B | +84% |
▶ Detailed analysis — formula walk-through & scenarios
Why this conclusion
Of the 7 valuation methods, 5 were applicable. Their median fair-value lands +57.0% below the current market cap → the stock trades above most formulas' estimates (overvalued). 5 methods flag overvalued, 0 flag undervalued, the rest land within fair range. Read each formula's assumptions below before treating any single number as the answer.
Graham Number
√(22.5 × 순이익 × 자본)
Not applicable: 순이익 또는 자본이 0 이하
Graham Formula
Overvalued +40.4%순이익 × (8.5 + 2 × 성장률%)
Current
$201.66B
Implied fair
$143.60B
Gap (current − fair)
+$58.06B(+40.4%)
NetIncome = $8.56B Growth g = 4.1% → cap 4.1% Multiple = 8.5 + 2 × 4.1 = 16.8× $8.56B × 16.8 = $143.60B
- EPS 성장률 4.1%/년 가정 (직전 1년 기준)
- 무성장 기업 P/E = 8.5
- 현재 적용 배수: 16.8x
Justified P/E
Overvalued +57.0%순이익 × 산업 평균 P/E
Current
$201.66B
Implied fair
$128.44B
Gap (current − fair)
+$73.22B(+57.0%)
NetIncome = $8.56B Industry P/E = 15× $8.56B × 15 = $128.44B
- 산업 평균 PER 15x 가정 (사용자 정의 가능)
- 동종 업종 비교가 핵심 — 산업별 평균 P/E 사용 권장
P/B 배수
자본 × 산업 평균 P/B
Not applicable: 자본이 0 이하
P/S 배수
Overvalued +275.0%매출 × 산업 평균 P/S
Current
$201.66B
Implied fair
$53.77B
Gap (current − fair)
+$147.89B(+275.0%)
Revenue = $26.89B Industry P/S = 2× $26.89B × 2 = $53.77B
- 산업 평균 PSR 2x 가정
- 매출 기반 — 적자 기업·신생 기업에 적용 가능
- 이익률 차이 무시
DCF (Gordon)
Overvalued +31.1%CF × (1+g) / (r − g)
Current
$201.66B
Implied fair
$153.81B
Gap (current − fair)
+$47.85B(+31.1%)
FCF = $7.19B Discount r = 4.0% + 5.0% = 9.0% Growth g = 4.1% $7.19B × (1 + 4.1%) / (9.0% − 4.1%) = $153.81B
- 현금흐름 입력: FCF (잉여현금흐름)
- 할인율 9.0% (무위험 4.0% + 주식위험프리미엄 5.0%)
- 영구 성장률 4.1% (실질 GDP 수준)
DDM (Gordon)
Overvalued +84.2%D × (1+g) / (r − g)
Current
$201.66B
Implied fair
$109.48B
Gap (current − fair)
+$92.18B(+84.2%)
Dividend D = $5.12B Discount r = 9.0% Growth g = 4.1% $5.12B × (1 + 4.1%) / (9.0% − 4.1%) = $109.48B
- 배당 입력: 실제 지급 배당
- 할인율 9.0%
- 배당 영구 성장률 4.1%
DCF sensitivity: discount rate × terminal growth
Each cell is the (current vs FCF × (1+g) / (r − g)) discount % under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +66.7% | +94.5% | +122.3% | +150.1% | +177.9% |
| 2% | +37.6% | +65.1% | +92.6% | +120.1% | +147.6% |
| 3% | +9.0% | +36.2% | +63.5% | +90.7% | +118.0% |
| 4% | -19.0% | +7.9% | +34.9% | +61.9% | +88.9% |
| 5% | -46.5% | -19.8% | +6.9% | +33.6% | +60.4% |
DDM sensitivity: discount rate × dividend growth
Each cell is the discount % vs Dividend × (1+g) / (r − g) under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +134.2% | +173.2% | +212.3% | +251.3% | +290.4% |
| 2% | +93.3% | +131.9% | +170.6% | +209.2% | +247.9% |
| 3% | +53.1% | +91.4% | +129.7% | +167.9% | +206.2% |
| 4% | +13.7% | +51.6% | +89.5% | +127.5% | +165.4% |
| 5% | -24.9% | +12.6% | +50.2% | +87.7% | +125.3% |
All estimates rest on strong assumptions. Treat the spread, not any single number, as the signal.
Financial Statements
In USD millions (per-share figures shown directly) · Financials as of: 2026-02-24
Income Statement
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 26,885 | 25,920 | 25,494 | 23,183 | 23,223 |
| Operating Income | 12,393 | 11,712 | 11,647 | 9,371 | 10,356 |
| Net Income | 8,563 | 8,223 | 8,469 | 6,177 | 7,545 |
| EPS (Basic) | 12.00 | 11.45 | 11.63 | 8.39 | 10.11 |
| EPS (Diluted) | 11.95 | 11.39 | 11.56 | 8.33 | 10.04 |
Balance Sheet
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total Assets | 59,515 | 55,182 | 56,147 | 50,436 | 53,854 |
| Current Assets | 4,163 | 4,599 | 7,986 | 5,424 | 7,149 |
| Cash & Equivalents | 774 | 1,085 | 4,579 | 2,584 | 4,709 |
| Current Liabilities | 4,361 | 3,861 | 6,859 | 3,802 | 4,020 |
| Long-term Debt | 39,973 | 38,424 | 39,345 | 35,904 | 35,623 |
| Total Equity | -1,791 | -3,797 | -4,707 | -6,003 | -4,601 |
Cash Flow
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating CF | 10,551 | 9,447 | 9,612 | 7,387 | 9,142 |
| Investing CF | -3,822 | -5,346 | -3,185 | -2,678 | -2,166 |
| Financing CF | -7,125 | -7,495 | -4,374 | -6,580 | -5,596 |
| CapEx | 3,365 | 2,775 | 2,357 | 1,899 | 2,040 |
| Dividends Paid | 5,115 | 4,870 | 4,533 | 4,168 | 3,919 |
📄 SEC Filings
Quarterly Report
10-Q
2026-05-07
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Current Report
8-K
2026-05-07
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Proxy Statement
DEF 14A
2026-04-07
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Annual Report
FORM 10-K
2026-02-24
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Current Report
8-K
2026-02-11
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Current Report
8-K
2026-02-10
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Quarterly Report
10-Q
2025-11-05
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Current Report
8-K
2025-11-05
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Current Report
8-K
2025-08-27
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Quarterly Report
10-Q
2025-08-06
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8-K
2025-08-06
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Other filings (89)
SCHEDULE 13G
xslSCHEDULE_13G_X02/primary_doc.xml
2026-04-30
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Insider Transaction
JOE ERLINGER - FORM 4 (APRIL 23, 2026)
2026-04-23
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144
xsl144X01/primary_doc.xml
2026-04-23
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JOE ERLINGER - FORM 4 (APRIL 10, 2026)
2026-04-13
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144
xsl144X01/primary_doc.xml
2026-04-10
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ARS
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2026-04-07
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DEFA14A
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2026-04-07
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8-K/A
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2026-04-02
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SCHEDULE 13G/A
xslSCHEDULE_13G_X02/primary_doc.xml
2026-03-27
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JOE ERLINGER - FORM 4 (MARCH 23, 2026)
2026-03-24
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144
xsl144X01/primary_doc.xml
2026-03-23
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DARIO BARONI - FORM 4 (MARCH 18, 2026)
2026-03-19
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144
xsl144X01/primary_doc.xml
2026-03-18
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JOE ERLINGER - FORM 4 (MARCH 10, 2026)
2026-03-11
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144
xsl144X01/primary_doc.xml
2026-03-10
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DESIREE RALLS-MORRISON - FORM 4 (2.24.2026)
2026-02-26
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JOE ERLINGER - FORM 4 - FEBRUARY 23, 2026
2026-02-25
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JONATHAN BANNER - FORM 4 - FEBRUARY 23, 2026
2026-02-25
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144
xsl144X01/primary_doc.xml
2026-02-23
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MANU STEIJAERT - FORM 4 (FEBRUARY 13, 2026)
2026-02-17
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BRIAN RICE - FORM 4 (FEBRUARY 13, 2026)
2026-02-17
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DESIREE RALLS-MORRISON - FORM 4 (FEBRUARY 13, 2026)
2026-02-17
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JILL MCDONALD - FORM 4 (FEBRUARY 13, 2026)
2026-02-17
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CHRISTOPHER KEMPCZINSKI - FORM 4 (FEBRUARY 12, 2026)
2026-02-17
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MORGAN FLATLEY - FORM 4 (FEBRUARY 12, 2026)
2026-02-17
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JOE ERLINGER - FORM 4 (FEBRUARY 13, 2026)
2026-02-17
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LAUREN ELTING - FORM 4 (FEBRUARY 13, 2026)
2026-02-17
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TIFFANIE BOYD - FORM 4 (FEBRUARY 13, 2026)
2026-02-17
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IAN BORDEN - FORM 4 (FEBRUARY 13, 2026)
2026-02-17
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DARIO BARONI - FORM 4 (FEBRUARY 13, 2026)
2026-02-17
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Insider Transaction
JON BANNER - FORM 4 (FEBRUARY 13, 2026)
2026-02-17
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3
JIM FARLEY - FORM 3 (2.4.2026)
2026-02-17
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144
xsl144X01/primary_doc.xml
2026-02-13
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144
xsl144X01/primary_doc.xml
2026-02-12
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Insider Transaction
JOE ERLINGER - FORM 4 - FEBRUARY 10, 2026
2026-02-11
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144
xsl144X01/primary_doc.xml
2026-02-10
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SCHEDULE 13G
xslSCHEDULE_13G_X01/primary_doc.xml
2026-02-09
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Insider Transaction
JOE ERLINGER - FORM 4 (JANUARY 12, 2026)
2026-01-13
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144
xsl144X01/primary_doc.xml
2026-01-12
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ANTHONY CAPUANO - FORM 4 (DECEMBER 31, 2025)
2026-01-05
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CATHERINE ENGELBERT - FORM 4 (DECEMBER 31, 2025)
2026-01-05
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MILES WHITE - FORM 4 (DECEMBER 31, 2025)
2026-01-05
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LLOYD DEAN - FORM 4 (DECEMBER 31, 2025)
2026-01-05
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JENNIFER TAUBERT - FORM 4 (DECEMBER 31, 2025)
2026-01-05
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AMY WEAVER - FORM 4 (DECEMBER 31, 2025)
2026-01-05
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MICHAEL HSU - FORM 4 (DECEMBER 31, 2025)
2026-01-05
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PAUL WALSH - FORM 4 (DECEMBER 31, 2025)
2026-01-05
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KAREEM DANIEL - FORM 4 (DECEMBER 31, 2025)
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MARGO GEORGIADIS - FORM 4 (DECEMBER 31, 2025)
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DESIREE RALLS-MORRISON - FORM 4 - DECEMBER 16, 2025
2025-12-18
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EDITH MORGAN FLATLEY - FORM 4 - DECEMBER 12, 2025
2025-12-15
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MANU STEIJAERT - FORM 4 (DECEMBER 1, 2025)
2025-12-02
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144
xsl144X01/primary_doc.xml
2025-12-01
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DESIREE RALLS-MORRISON - FORM 4 (NOVEMBER 24, 2025)
2025-11-26
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IAN BORDEN - FORM 4 (NOVEMBER 21, 2025)
2025-11-21
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144
xsl144X01/primary_doc.xml
2025-11-21
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JOE ERLINGER - FORM 4 (NOVEMBER 20, 2025 GIFT)
2025-11-20
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JOE ERLINGER - FORM 4 (NOVEMBER 14, 2025)
2025-11-18
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144
xsl144X01/primary_doc.xml
2025-11-14
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xslF345X05/form4.xml
2025-11-07
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144
xsl144X01/primary_doc.xml
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BRIAN RICE - FORM 4 (5/7/24, 10/8/24, 10/14/25)
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JENNIFER TAUBERT - FORM 4 (SEPTEMBER 30, 2025)
2025-10-01
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AMY WEAVER - FORM 4 (SEPTEMBER 30, 2025)
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MIKE HSU - FORM 4 (SEPTEMBER 30, 2025)
2025-10-01
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LLOYD DEAN - FORM 4 (SEPTEMBER 30, 2025)
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xslSCHEDULE_13G_X01/primary_doc.xml
2025-09-08
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MORGAN FLATLEY - FORM 4 (SEPTEMBER 2, 2025)
2025-09-02
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JON BANNER - FORM 4 (AUGUST 19, 2025)
2025-08-19
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424B2
424B2
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424B2
424B2
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xslF345X05/ownership.xml
2025-08-13
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xslF345X05/ownership.xml
2025-08-12
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DESIREE RALLS-MORRISON - FORM 4 (AUGUST 6, 2025)
2025-08-06
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MORGAN FLATLEY - FORM 4 (AUGUST 1, 2025)
2025-08-04
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SCHEDULE 13G/A
xslSCHEDULE_13G_X01/primary_doc.xml
2025-07-31
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144
xsl144X01/primary_doc.xml
2025-07-23
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JOE ERLINGER - FORM 4 (JULY 23, 2025)
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3
xslF345X02/form3.xml
2025-07-17
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MORGAN FLATLEY - FORM 4 (JULY 10, 2025)
2025-07-10
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AMY WEAVER - FORM 4 (JUNE 30, 2025)
2025-07-01
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JENNIFER TAUBERT - FORM 4 (JUNE 30, 2025)
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MICHAEL HSU - FORM 4 (JUNE 30, 2025)
2025-07-01
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LLOYD DEAN - FORM 4 (JUNE 30, 2025)
2025-07-01
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JOE ERLINGER - FORM 4 (JUNE 23, 2025)
2025-06-23
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144
xsl144X01/primary_doc.xml
2025-06-23
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