Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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Over 2021–2024 the company’s balance sheet shows modest growth in total assets (from $23,246m to $24,632m, ≈+5.9%) after a small dip in 2022, while total liabilities fell in 2022 then rose to $19,789m in 2024 (roughly +2.0% vs. 2021). Stockholders’ equity increased steadily and materially from $2,237m to $3,110m (≈+39%), lifting the equity share of the balance sheet from about 9.6% of assets in 2021 to about 12.6% in 2024. At the same time leverage has eased: liabilities/assets fell from ~83.5% to ~80.3% and liabilities-to-equity declined from roughly 8.7x to 6.4x. Interpretation: the steady rise in equity and modest asset growth suggests accumulated retained earnings and improving capitalization, while the 2022 dip in both assets and liabilities likely reflects short‑term working‑capital or financing adjustments during the post‑pandemic normalization period. That said, the company remains relatively highly leveraged—consistent with many franchise/fast‑food acquirers that operate an asset‑light model but carry significant lease and debt obligations—so liquidity and interest‑costs remain relevant monitoring points. Note that the 2025 row contains zeros (missing data), so observations are limited to 2021–2024.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.