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Sankey diagram of McDonald's Corporation. A complete text table follows the diagram.
Franchise fees supply 61% of reported revenue while operators fund most restaurant-level labor and food costs, helping the system convert 45% of corporate revenue into operating profit
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Every flow is directly reported. Franchise revenue is corporate rent, royalties and fees, not total restaurant sales. Other operating income is already included in the reported aggregate operating-cost line.
Labels and narrative explain the filing. A category marked “arithmetic bridge” or “residual” is calculated from reported totals, rather than a separately reported line.
| Category | Stage | Value | Notes |
|---|---|---|---|
| Franchise rent, royalties & fees | 1 | $4.0B | 61% of revenue; up 9% |
| Company-operated restaurant sales | 1 | $2.3B | 36% of revenue; up 9% |
| Technology, licensing & other | 1 | $193M | Up 19% year over year |
| Corporate revenue | 2 | $6.5B | Up 9% year over year |
| Operating income | 3 | $3.0B | 45.3% operating margin |
| Operating costs & expenses | 3 | $3.6B | Restaurant, occupancy and corporate costs |
| Income before tax | 4 | $2.5B | 39.0% of revenue |
| Interest expense | 4 | $400M | Debt funding cost |
| Net nonoperating expense | 4 | $11M | Reported other expense |
| Net income | 5 | $2.0B | $2.80 diluted EPS |
| Income tax | 5 | $559M | 22.0% effective rate |
| From | To | Value |
|---|---|---|
| Franchise rent, royalties & fees | Corporate revenue | $4.0B |
| Company-operated restaurant sales | Corporate revenue | $2.3B |
| Technology, licensing & other | Corporate revenue | $193M |
| Corporate revenue | Operating income | $3.0B |
| Corporate revenue | Operating costs & expenses | $3.6B |
| Operating income | Income before tax | $2.5B |
| Operating income | Interest expense | $400M |
| Operating income | Net nonoperating expense | $11M |
| Income before tax | Net income | $2.0B |
| Income before tax | Income tax | $559M |