Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's 5mealpackagehassignificantlyboostedsame−storesales,andtheintroductionoftheMcValuemenuisexpectedtocontinuethispositivetrend.Asexternalconditionsnormalize,same−storeperformanceinregionsoutsidetheU.S.isgraduallyrecovering,withglobalsame−storesalesexpectedtoreturntopositivegrowthin2025,drivingrevenuerecovery[4][5].−Thecompany′sQ42024performancemetexpectations,withtotalrevenueof6.39 billion, a slight year-over-year decline of 0.3%. The operating profit was 2.87billion,ayear−over−yearincreaseof2.42.02 billion, down 1.1% year-over-year [4][5]. - The company maintained a stable dividend policy, with a quarterly dividend of 1.77pershareandatotalannualdividendpayoutof4.9 billion, representing 3.5% of the total market capitalization of 221.1billion[4][5].−Same−storesalesshowedsignificantimprovementinQ42024,withU.S.same−storesalesdown1.425.92 billion, a year-over-year growth of 1.7%. The net profit was 8.22billion,adeclineof2.927.26 billion, 28.84billion,and30.49 billion, respectively, with expected growth rates of 5.2%, 5.8%, and 5.7% [5][6]. - The projected net profits for the same years are 8.70billion,9.29 billion, and $9.95 billion, with growth rates of 5.8%, 6.8%, and 7.0% [5][6]. - The company maintains a healthy operating profit margin, projected to be between 45% and 50% for 2025 [4][5].
McDonald's(MCD) 兴业证券·2025-02-20 00:56