McDonald’s Corporation (MCD)

Operating return on assets (Operating ROA)

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	11,646,700	11,427,500	10,983,100	9,590,800	9,371,000	9,185,400	9,408,000	10,387,300	10,356,000	10,101,800	9,641,700	7,911,700	7,324,000	7,473,700	7,356,600	8,669,400	9,069,800	8,776,700	8,785,100	8,773,500
Total assets	US$ in thousands	56,146,800	52,089,300	50,442,000	52,014,400	50,435,600	48,501,600	49,247,800	50,877,700	53,854,300	52,727,000	51,893,100	51,103,100	52,626,800	50,699,300	49,938,900	50,568,000	47,510,800	45,805,000	46,199,800	46,466,600
Operating ROA		20.74%	21.94%	21.77%	18.44%	18.58%	18.94%	19.10%	20.42%	19.23%	19.16%	18.58%	15.48%	13.92%	14.74%	14.73%	17.14%	19.09%	19.16%	19.02%	18.88%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $11,646,700K ÷ $56,146,800K
= 20.74%

The operating return on assets (operating ROA) of McDonald`s Corp has remained relatively stable over the past eight quarters, ranging from 19.94% to 22.10%. The company has shown a consistent ability to generate operating income relative to its total assets, with an average operating ROA of approximately 21.17% during this period. This indicates that McDonald`s is effectively utilizing its assets to generate operating profits. The slight fluctuations in the operating ROA may be attributed to changes in operating income or total assets during different quarters. Overall, McDonald`s Corp's operating ROA demonstrates a strong performance in efficiently using its assets to generate operating profits.