McDonald’s Corporation (MCD) — Cash Flow-to-Debt Ratio
McDonald’s Corporation (MCD) has a Cash Flow-to-Debt Ratio of 0.04x as of March 2026, meaning its operating cash flow of $2.41 Billion could theoretically repay 0% of its total liabilities ($61.32 Billion) in one year. See McDonald’s Corporation leverage flexibility ratio to measure the company's free cash flow as a share of total liabilities.
CF-to-Debt Ratio
Operating Cash Flow
Total Liabilities
Data as of
McDonald’s Corporation Cash Flow-to-Debt Ratio (1989–2025)
Historical debt coverage capacity for McDonald’s Corporation across 37 annual periods. For the full cash flow conversion analysis, see McDonald’s Corporation cash conversion from operations.
Annual Cash Flow-to-Debt Ratio for McDonald’s Corporation (1989–2025)
Year-by-year debt coverage analysis for McDonald’s Corporation. Check McDonald’s Corporation earnings quality ratio to evaluate the quality of earnings relative to operating cash generation.
| Year | CF-to-Debt Ratio | Operating CF (USD) | Total Liabilities | YoY Change |
|---|---|---|---|---|
| 2025 | 0.17x | $10.55 Billion | $61.30 Billion | ▲ +7.4% |
| 2024 | 0.16x | $9.45 Billion | $58.98 Billion | ▲ +1.4% |
| 2023 | 0.16x | $9.61 Billion | $60.85 Billion | ▲ +20.7% |
| 2022 | 0.13x | $7.39 Billion | $56.44 Billion | ▼ -16.3% |
| 2021 | 0.16x | $9.14 Billion | $58.46 Billion | ▲ +50.9% |
| 2020 | 0.10x | $6.27 Billion | $60.45 Billion | ▼ -28.9% |
| 2019 | 0.15x | $8.12 Billion | $55.72 Billion | ▼ -18.3% |
| 2018 | 0.18x | $6.97 Billion | $39.07 Billion | ▲ +19.1% |
| 2017 | 0.15x | $5.55 Billion | $37.07 Billion | ▼ -17.9% |
| 2016 | 0.18x | $6.06 Billion | $33.23 Billion | ▼ -14.0% |
| 2015 | 0.21x | $6.54 Billion | $30.85 Billion | ▼ -32.5% |
| 2014 | 0.31x | $6.73 Billion | $21.43 Billion | ▼ -9.1% |
| 2013 | 0.35x | $7.12 Billion | $20.62 Billion | ▼ -0.4% |
| 2012 | 0.35x | $6.97 Billion | $20.09 Billion | ▼ -9.8% |
| 2011 | 0.38x | $7.15 Billion | $18.60 Billion | ▲ +5.1% |
| 2010 | 0.37x | $6.34 Billion | $17.34 Billion | ▲ +3.0% |
| 2009 | 0.36x | $5.75 Billion | $16.19 Billion | ▼ -9.5% |
| 2008 | 0.39x | $5.92 Billion | $15.08 Billion | ▲ +13.6% |
| 2007 | 0.35x | $4.88 Billion | $14.11 Billion | ▲ +7.6% |
| 2006 | 0.32x | $4.34 Billion | $13.52 Billion | ▲ +9.9% |
| 2005 | 0.29x | $4.34 Billion | $14.84 Billion | ▲ +2.1% |
| 2004 | 0.29x | $3.90 Billion | $13.64 Billion | ▲ +21.3% |
| 2003 | 0.24x | $3.27 Billion | $13.86 Billion | ▲ +11.7% |
| 2002 | 0.21x | $2.89 Billion | $13.69 Billion | ▲ +2.5% |
| 2001 | 0.21x | $2.69 Billion | $13.05 Billion | ▼ -6.5% |
| 2000 | 0.22x | $2.75 Billion | $12.48 Billion | ▼ -16.9% |
| 1999 | 0.27x | $3.01 Billion | $11.34 Billion | ▼ -1.1% |
| 1998 | 0.27x | $2.77 Billion | $10.32 Billion | ▲ +3.1% |
| 1997 | 0.26x | $2.44 Billion | $9.39 Billion | ▼ -8.4% |
| 1996 | 0.28x | $2.46 Billion | $8.67 Billion | ▼ -14.8% |
| 1995 | 0.33x | $2.30 Billion | $6.89 Billion | ▲ +8.7% |
| 1994 | 0.31x | $1.93 Billion | $6.28 Billion | ▼ -1.0% |
| 1993 | 0.31x | $1.68 Billion | $5.43 Billion | ▲ +25.7% |
| 1992 | 0.25x | $1.43 Billion | $5.79 Billion | ▲ +12.7% |
| 1991 | 0.22x | $1.42 Billion | $6.51 Billion | ▲ +8.9% |
| 1990 | 0.20x | $1.30 Billion | $6.49 Billion | ▼ -9.4% |
| 1989 | 0.22x | $1.25 Billion | $5.62 Billion | — |