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Arcos Dorados Holdings Inc.

Arcos Dorados Holdings Inc.

NYSE•ARCO
CEO: Mr. Woods W. Staton
Sector: Consumer Cyclical
Industry: Restaurants
Listing Date: 2011-04-14
Arcos Dorados Holdings Inc. operates as a franchisee of McDonald's restaurants. It has the exclusive right to own, operate, and grant franchises of McDonald's restaurants in 20 countries and territories in Latin America and the Caribbean, including Argentina, Aruba, Brazil, Chile, Colombia, Costa Rica, Curacao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S. Virgin Islands of St. Croix and St. Thomas, and Venezuela. The company was founded in 2007 and is based in Montevideo, Uruguay.
Contact Information
Río Negro 1338, First Floor, Montevideo, 11100, Uruguay
598-2626-3000
www.arcosdorados.com
Market Cap
$1.51B
P/E (TTM)
11.6
30.4
Dividend Yield
3.3%
52W High
$8.89
52W Low
$6.51
52W Range
28%
3.9
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.9 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q2 2025 Data

Revenue

$1.14B+2.83%
4-Quarter Trend

EPS

$0.11-15.38%
4-Quarter Trend

FCF

$17.69M-245.25%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Total Revenue Growth Total revenues reached $4.47B USD in 2024, marking a 3.2% increase from 2023 figures.
Adjusted EBITDA Improvement Adjusted EBITDA grew to $500.1M USD in 2024, reflecting strong operational performance across all geographic divisions.
Strong Comparable Sales Growth Systemwide comparable sales growth reached 32.8% in 2024, driven by higher traffic and average check increases.
Net Income Decline Noted Net income attributable to shareholders fell 17.9% to $148.8M USD in 2024, impacted by higher financing costs.

Risk Factors

Foreign Exchange Volatility Risk Significant Brazilian real depreciation (27.2% in 2024) negatively impacted foreign currency exchange results and costs.
Dependence on Master Franchise Business rights rely exclusively on MFAs; termination or non-renewal by McDonald’s would materially harm operations.
Regional Economic Instability Operations heavily concentrated in Latin America face risks from high inflation, political unrest, and economic downturns.
Debt Covenants Compliance Outstanding indebtedness agreements contain covenants that could limit financial flexibility if investment grade rating is lost.

Outlook

2025 Restaurant Expansion Plan Expect to open 90 to 100 new restaurants in 2025, supported by $300M to $350M USD in planned capital expenditures.
Digital Strategy Acceleration Doubling down on digital capabilities, including loyalty programs, to enhance customer acquisition and engagement across markets.
Continued Focus on Core Menu Expanding Best Burger program and evolving core products to remove artificial ingredients while maintaining flavor standards.
Renewable Energy Goal Progress Reached 50% renewable energy sourcing goal in 2024; committed to increasing this further toward future sustainability targets.

Peer Comparison

Revenue (TTM)

Arcos Dorados Holdings Inc.ARCO
$4.50B
+0.1%
Sally Beauty Holdings, Inc.SBH
$3.69B
-0.4%
ATRenew Inc.RERE
$2.57B
+27.3%

Gross Margin (Latest Quarter)

Sally Beauty Holdings, Inc.SBH
51.5%
+0.5 pp
La-Z-Boy IncorporatedLZB
42.5%
-0.6 pp
Arhaus, Inc.ARHS
41.2%
+1.1 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
PZZA$1.66B22.2-17.6%108.6%
WEN$1.63B8.5100.8%83.5%
ARCO$1.51B11.624.6%60.1%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+0.3%
Moderate Growth
4Q Net Income CAGR
-13.8%
Declining Profitability
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Reports
All Years

  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Apr 29, 2025|
    Revenue: $4.47B+3.2%
    |
    EPS: $0.71-17.4%
    Beat

  • Form 20-F - FY 2023

    Period End: Dec 31, 2023|Filed: Apr 29, 2024|
    Revenue: $4.33B+19.7%
    |
    EPS: $0.86+28.4%
    Beat

  • Form 20-F - FY 2022

    Period End: Dec 31, 2022|Filed: Apr 28, 2023|
    Revenue: $3.62B+36.1%
    |
    EPS: $0.67+204.5%
    Beat

  • Form 20-F - FY 2021

    Period End: Dec 31, 2021|Filed: Apr 29, 2022|
    Revenue: $2.66B+34.1%
    |
    EPS: $0.22+130.1%
    Beat

  • Form 20-F - FY 2020

    Period End: Dec 31, 2020|Filed: Apr 29, 2021|
    Revenue: $1.98B-32.9%
    |
    EPS: $-0.73-292.1%
    Beat