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Full-Information Forecast and Valuation: McDonald’s

Full-Information Forecast and Valuation: McDonald’s. Brian Gitschier Module 13. Company Snapshot. Quick Service Restaurant 34,480 restaurants in 119 countries Open 1 restaurant every 4 hours 69 million customers daily 1% of global population Revenue: 28 Billion. Trends-NEA. Trends-NEA.

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Full-Information Forecast and Valuation: McDonald’s

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  1. Full-Information Forecast and Valuation: McDonald’s Brian Gitschier Module 13

  2. Company Snapshot • Quick Service Restaurant • 34,480 restaurants in 119 countries • Open 1 restaurant every 4 hours • 69 million customers daily • 1% of global population • Revenue: 28 Billion

  3. Trends-NEA

  4. Trends-NEA

  5. Trends - EPAT

  6. Trends - EPAT

  7. EPM Forecast

  8. EATO Forecast

  9. Goodwill • Heavy investment in Real Estate • Buy and sell restaurants • Goodwill increases year to year • 10% of sales

  10. Valuation • Sales Growth: 3% • EPM: 19.96% • EATO: 1.01 • Required Rate: 7.02%

  11. Valuation • Residual Income Model • Greater value captured within horizon • Same value with all models

  12. Valuation

  13. Buy or Sell? • Value of equity: $111,160.55 • Shares outstanding: 1,003 • Value Per Share: $110.83 • Price Per Share (4/22/2014): $99.32 • Buy

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