ARCONYSERetail-Eating PlacesFiscal year ends December 31
Arcos Dorados Holdings Inc.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 30, 2026
$7.95+0.00 (0.00%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 7.9
- Dividend yield
- 3.02%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
98.1%+0.3 pts over 5 years
Operating margin
7.8%+11.2 pts over 5 years
Net margin
4.5%+12.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +4.7% | +8.9% | +18.7% | +4.4% | |
| Gross profit | +4.6% | +8.9% | +18.8% | – | |
| Operating income | +12.3% | +11.3% | – | +14.6% | |
| Net income | +42.6% | +14.8% | – | – | |
| EPS, diluted | +42.3% | +14.7% | – | – | |
| Free cash flow | – | -51.1% | – | -3.6% | |
| Dividend per share | 0.0% | +17.0% | +36.9% | 0.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 24.7% | -48.3% | 33.2% | |
| Return on assets | 5.4% | -6.2% | 6.3% | |
| Current ratio | 0.81 | 0.83 | 1.03 | |
| Debt to equity | 1.65 | 3.93 | 1.48 | |
| Net debt to EBITDA | 1.42× | 10.16× | 1.36× | |
| Interest coverage | 2.7× | -2.0× | 26.7× | |
| Inventory turnover | – | 1.2× | 1.5× | |
| Capex to revenue | 3.2% | 4.3% | 6.0% | |
| Diluted shares | 211M | 209M | 211M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Arcos Dorados generated $1.55B from operations and spent $1.47B on capital expenditure, dividends and share buybacks. 88% of that went back into the business.
Generated
$1.55B
Used
$1.47B
Capital expenditure$1.30B88%Dividends$172.75M12%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin4.5%
×Asset turnover1.38×
×Equity multiplier5.30×
=Return on equity, FY202533.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 4.5% | 1.38× | 5.30× | 33.2% |
| FY2024 | 3.3% | 1.51× | 5.78× | 29.1% |
| FY2023 | 4.2% | 1.53× | 6.74× | 43.2% |
| FY2022 | 3.9% | 1.45× | 9.19× | 51.6% |
| FY2021 | 1.7% | 1.14× | 11.14× | 21.8% |
| FY2020 | -7.5% | 0.82× | 7.84× | -48.3% |
| FY2019 | 2.7% | 1.43× | 5.08× | 19.6% |
| FY2018 | 1.2% | 1.82× | 3.81× | 8.3% |
| FY2017 | 3.9% | 2.01× | 3.91× | 30.5% |
| FY2016 | 2.7% | 2.01× | 4.56× | 24.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$212.12M
- Cash generatingOperating cash flow above zero$296.34M
- Return on assets improvedROA up on the prior year4.9% → 7.3%
- Earnings backed by cashOperating cash flow above net income$296.34M vs $212.12M
- Less leverageLong-term debt to assets fell24.8% → 29.0%
- Better liquidityCurrent ratio rose0.61 → 1.03
- No dilutionShare count did not rise211M → 211M
- Gross margin improvedGross margin up on the prior year98.13% → 98.09%
- More efficientAsset turnover rose1.48 → 1.62