Question 1

What is McDonald's's EV/EBITDA ratio?

Accepted Answer

McDonald's (MCD) EV/EBITDA ratio is 17.0× as of June 5, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for McDonald's?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For McDonald's specifically, the relevant sector benchmark is the current sector median of 14.3×.

Question 5

Is McDonald's's EV/EBITDA ratio high or low?

Accepted Answer

McDonald's's EV/EBITDA ratio of 17.0× is below its own 5-year average of 19.3× and above the sector median of 14.3×. That places the current reading at the 4th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is McDonald's's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, McDonald's (MCD) EV/EBITDA ratio has ranged from a low of 8.2× in 2002 to a high of 24.4× in 2023. The 5-year average is 19.3× and the 5-year median is 19.1×.

Question 7

What was McDonald's's EV/EBITDA ratio in 2025?

Accepted Answer

McDonald's (MCD) EV/EBITDA ratio at the end of 2025 was 18.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does McDonald's's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$218.28B	$14.64B	18.6×	+0.1×	Dec 31, 2025
2024	$207.33B	$13.95B	18.5×	-0.5×	Dec 31, 2024
2023	$214.62B	$13.86B	19.0×	-3.0×	Dec 31, 2023
2022	$193.03B	$10.90B	21.9×	+1.9×	Dec 31, 2022
2021	$199.66B	$12.18B	20.1×	-2.7×	Dec 31, 2021
2020	$159.95B	$9.12B	22.8×	+4.7×	Dec 31, 2020
2019	$147.48B	$10.74B	18.1×	+1.9×	Dec 31, 2019
2018	$136.21B	$10.28B	16.2×	+1.1×	Dec 31, 2018
2017	$136.68B	$10.86B	15.1×	+1.7×	Dec 31, 2017
2016	$99.63B	$9.27B	13.4×	-0.7×	Dec 31, 2016
2015	$107.13B	$8.75B	14.1×	+3.4×	Dec 31, 2015
2014	$90.22B	$9.59B	10.8×	+0.3×	Dec 31, 2014
2013	$96.10B	$10.31B	10.4×	+0.5×	Dec 31, 2013
2012	$88.45B	$10.08B	9.9×	-1.4×	Dec 31, 2012
2011	$101.96B	$9.92B	11.3×	+1.1×	Dec 31, 2011
2010	$79.64B	$8.73B	10.2×	+0.9×	Dec 31, 2010
2009	$67.17B	$8.18B	9.3×	-0.1×	Dec 31, 2009
2008	$68.61B	$8.13B	9.4×	-5.5×	Dec 31, 2008
2007	$67.49B	$5.00B	14.9×	+4.4×	Dec 31, 2007
2006	$53.25B	$5.63B	10.6×	+1.4×	Dec 31, 2006
2005	$42.29B	$5.27B	9.1×	-1.1×	Dec 31, 2005
2004	$40.54B	$4.74B	10.2×	+0.0×	Dec 31, 2004
2003	$31.33B	$3.98B	10.2×	+0.7×	Dec 31, 2003
2002	$20.40B	$3.16B	9.5×	-1.7×	Dec 31, 2002
2001	$33.81B	$3.78B	11.2×	—	Dec 31, 2001


Packaging Corporation of America (PKG)	12.3×
Wynn Resorts (WYNN)	11.7×
General Motors (GM)	11.5×
Amcor (AMCR)	11.3×
Masco (MAS)	10.9×
NVR (NVR)	10.9×
Ball (BALL)	10.7×
D.R. Horton (DHI)	10.7×
Las Vegas Sands (LVS)	10.1×
Norwegian Cruise Line (NCLH)	9.9×
Carnival Corporation (CCL)	9.5×
Deckers Outdoor (DECK)	9.5×
LKQ (LKQ)	9.0×
Toll Brothers (TOL)	8.6×
PulteGroup (PHM)	8.1×
Expedia Group (EXPE)	8.0×
Etsy (ETSY)	8.0×
Leggett & Platt (LEG)	7.3×
Best Buy Co. (BBY)	6.8×
Weyco Group (WEYS)	6.6×
Sonoco Products (SON)	6.5×
Lululemon Athletica (LULU)	6.3×
Mohawk Industries (MHK)	4.9×
Smurfit Westrock (SW)	4.6×
PDD Holdings (PDD)	3.7×

EV/EBITDA for McDonald's (MCD)

EV/EBITDA daily chart for McDonald's (MCD)

Historical EV/EBITDA for McDonald's (MCD) from 2001 to 2025

About EV/EBITDA at McDonald's (MCD)

McDonald's EV/EBITDA by Year

McDonald's EV/EBITDA 2025: 18.6×

McDonald's EV/EBITDA 2024: 18.5×

McDonald's EV/EBITDA 2023: 19.0×

McDonald's EV/EBITDA 2022: 21.9×

McDonald's EV/EBITDA 2021: 20.1×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

McDonald's (MCD) Key Financials

EV/EBITDA daily chart for McDonald's (MCD)

Historical EV/EBITDA for McDonald's (MCD) from 2001 to 2025

About EV/EBITDA at McDonald's (MCD)

McDonald's EV/EBITDA by Year

McDonald's EV/EBITDA 2025: 18.6×

McDonald's EV/EBITDA 2024: 18.5×

McDonald's EV/EBITDA 2023: 19.0×

McDonald's EV/EBITDA 2022: 21.9×

McDonald's EV/EBITDA 2021: 20.1×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

+What is McDonald's's EV/EBITDA ratio?

+How is the EV/EBITDA ratio calculated?

+What is the EV/EBITDA ratio?

+What is a good EV/EBITDA ratio for McDonald's?

+Is McDonald's's EV/EBITDA ratio high or low?

+What is McDonald's's historical EV/EBITDA ratio range?

+What was McDonald's's EV/EBITDA ratio in 2025?

+Why does McDonald's's EV/EBITDA ratio change over time?

McDonald's (MCD) Key Financials