MCDONALD'S CORP 組員： 古竺艷、曾雪玲、陳炫文

動機 選擇麥當勞的原因是因為它是耳熟能詳的速食店，而且每當期中期末考時，麥當勞更是最愛，舒適的環境，冷氣，雖然會有小孩奔跑(真是有活力)，在這些環境之下，讀書的心就更加浮現啦。 這就是為什麼會選擇麥當勞的原因， I’m lovin’ it

發展史 西元1948年 麥當勞兄弟創造第一家餐廳 西元1954年 麥當勞創始人Ray A. Kroc初遇麥當勞兄弟 西元1955年 Ray A. Kroc成為麥當勞第一位加盟經營者 西元1961年 Ray A. Kroc 向麥當勞兄弟購買商標權， 經營麥當勞餐廳事業 西元1965年 麥當勞股票正式上市 西元1967年 美國以外第一家，加拿大麥當勞成立 西元1978年 全世界5,000家麥當勞 西元1987年 全世界10,000家麥當勞

SWOT分析 優勢 生產流程標準化 廣告密集 資金雄厚 市佔率高 速度快 機會 交通便利且車流量大的開店據點，增加商機。 年輕族群為服務人員，帶動活力。 劣勢 流動率高 產品無法兼顧大眾 威脅 負面新聞 競爭者多

HTY= (59.54 -56.22)/56.22=0.059 Date Price 4-Apr-08 56.22 7-Apr-08 56.02 8-Apr-08 55.42 9-Apr-08 55.79 10-Apr-08 55.59 11-Apr-08 55.41 14-Apr-08 55.49 15-Apr-08 16-Apr-08 56.31 17-Apr-08 57.11 18-Apr-08 57.56 21-Apr-08 58.59 22-Apr-08 57.94 23-Apr-08 58.41 24-Apr-08 58.65 25-Apr-08 59.75 28-Apr-08 29-Apr-08 59.15 30-Apr-08 60 1-May-08 59.54 2-May-08 60.9 5-May-08 60.96 6-May-08 60.61 7-May-08 60.4 8-May-08 59.73 9-May-08 59.06 12-May-08 59.3 13-May-08 14-May-08 61.35 15-May-08 16-May-08 60.87 19-May-08 60.76 20-May-08 60.28 21-May-08 59.77 22-May-08 58.75 23-May-08 58.37 27-May-08 57.87 28-May-08 29-May-08 58.7 30-May-08 HTY= (59.54 -56.22)/56.22=0.059

6/10之價格

YEAR SALES % CHANGE IN SALES 1997 1998 12,421.00 1999 13,259.00 6.75% 2000 14,243.00 7.42% 2001 14,870.00 4.40% 2002 15,406.00 3.60% 2003 17,141.00 11.26% 2004 19,065.00 11.22% 2005 20,460.00 7.32% 2006 21,586.00 5.50% 2007 22,787.00 5.56% SALES GROWTH RATE: 3 Year Average: 6.13% 5 Year Average: 8.17% Desired Growth Rate: 12.00% Meets Objective? NO

YEAR EARNINGS % CHANGE PER SHARE IN EPS 1997 1.15 1998 1.26 9.57% 1999 1.39 10.32% 2000 1.46 5.04% 2001 1.36 -6.85% 2002 1.32 -2.94% 2003 1.43 8.33% 2004 1.93 34.97% 2005 1.97 2.07% 2006 2.30 16.75% 2007 2.89 25.65% EPS GROWTH RATE: 3 Year Average: 14.83% 5 Year Average: 17.55% Desired Growth Rate: 12.00% Meets Objective? YES Earnings per Share have increased MORE than Sales during the past 5 years.

YEAR CASH % CHANGE FLOW IN CF 1997 1.76 1998 1.95 10.80% 1999 2.15 10.26% 2000 2.29 6.51% 2001 2.23 -2.62% 2002 2.16 -3.14% 2003 2.36 9.26% 2004 2.88 22.03% 2005 2.98 3.47% 2006 3.43 15.10% 2007 4.05 18.08% CASH FLOW GROWTH RATE: 3 Year Average: 12.22% 5 Year Average: 13.59% Desired Growth Rate: Meets Objective? NO Cash flow per share has increased MORE than EPS during the past 5 years.

Price-Earning History

Price-Earning History EVALUATING MANAGEMENT

EVALUATING MANAGEMENT

EPS PROJECTION FIVE YEARS INTO THE FUTURE

RISK & REWARD

4.511 Capitalization Ranking Sales 22,787,000,000.00 Large Cap 70,693,419,301.43 Style Criteria for Numerical Value Value Price/Book 4.511 Growth < 2.5 Price/Earnings 27.80 <21 Dividend Yield 2.94% > 1.5% P/E to EPS Growth 1.58 <1

Sales and Earnings Growth P/E History and Price Information Summary Sales and Earnings Growth   5-year 3-year Objective Meets Objective Sales 6.13% 8.17% 12.00% NO Earnings 14.83% 17.55% YES Projected 5-year EPS growth 104.12% P/E History and Price Information Historical Numbers High Price Low Price EPS High PE Low PE Avg. PE Div. Yield 3 year 48.03 33.80 2.39 19.87 14.11 16.99 0.43 5 year 40.82 27.60 2.10 19.12 12.70 15.91 0.37

Indications of Value Price Earnings P/E Objective Meets Objective Present 59.77 2.15 27.80 21 NO Current PE is MORE 5 year average PE LESS Price increase in the past 5 years 121.37% 100% YES Projected price increase over next 5 yrs 13.09% Projected dividend yield over next 5 yrs 2.20% (Higher is better) Projected total return over next 5 yrs 4.82% Upside/Downside Ratio 0.34 > 3 SELL Zoning Number of shares outstanding 1,182,757,559

Evaluating Management Pre-tax Profit ROE 3 year 20.23% 19.23% (Higher numbers are better for ROE and profit margin) 5 year 18.95% 18.06%

結論 雖然在SSG中分析出來，並不是合買麥當勞的股票，帶是他還在緩慢的成長，基本上在我的想法中，股票就是要買長期的，所以，他還在緩慢的成長，表示，他的股價還會繼續升高，所以我還是會買這支股票。