Arcos Dorados (ARCO) financial statements
Arcos Dorados reported revenue of $4.7B in fiscal 2025, up 5.3% a year over 9 years.
Net income was $212M and the operating margin 7.8%, against 6.1% in 2016.
Free cash flow was $15M, and the company returned $51M in dividends.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Arcos Dorados's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.9B | $3.3B | $3.1B | $3.0B | $2.0B | $2.7B | $3.6B | $4.3B | $4.5B | $4.7B |
| Cost of revenue | — | — | $68M | $61M | $44M | $51M | $68M | $83M | $84M | $90M |
| Gross profit | — | — | $3.0B | $2.9B | $1.9B | $2.6B | $3.6B | $4.2B | $4.4B | $4.6B |
| Selling, general and admin | $221M | $245M | $229M | $213M | $171M | $211M | $239M | $285M | $280M | $313M |
| Operating income | $179M | $273M | $123M | $160M | -$67M | $140M | $264M | $314M | $325M | $364M |
| Interest expense | $67M | $68M | $53M | $52M | $33M | $50M | $44M | $32M | $47M | $14M |
| Pre-tax income | $139M | $183M | $85M | $119M | -$132M | $78M | $226M | $278M | $259M | $341M |
| Income tax | $60M | $53M | $48M | $39M | $18M | $32M | $85M | $96M | $110M | $129M |
| Net income | $79M | $129M | $37M | $80M | -$149M | $45M | $140M | $181M | $149M | $212M |
| EPS (diluted) | $0.37 | $0.61 | $0.18 | $0.38 | -$0.72 | $0.22 | $0.67 | $0.86 | $0.71 | $1.01 |
| Diluted shares | 211M | 212M | 210M | 208M | 209M | 211M | 211M | 211M | 211M | 211M |
| Gross margin | — | — | 97.8% | 97.9% | 97.8% | 98.1% | 98.1% | 98.1% | 98.1% | 98.1% |
| Operating margin | 6.1% | 8.2% | 4.0% | 5.4% | -3.4% | 5.2% | 7.3% | 7.2% | 7.3% | 7.8% |
| Net margin | 2.7% | 3.9% | 1.2% | 2.7% | -7.5% | 1.7% | 3.9% | 4.2% | 3.3% | 4.5% |
Balance sheet
Fiscal years, from Arcos Dorados's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $195M | $328M | $197M | $122M | $166M | $279M | $304M | $247M | $139M | $422M |
| Inventory | $49M | $83M | $46M | $38M | $34M | $38M | $50M | $53M | $52M | $66M |
| Total current assets | $445M | $653M | $465M | $405M | $416M | $540M | $684M | $605M | $468M | $852M |
| Property, plant and equipment | $848M | $891M | $856M | $961M | $797M | $744M | $856M | $1.1B | $1.1B | $1.3B |
| Goodwill | $7M | $7M | $6M | $7M | $6M | $5M | $7M | $12M | $13M | $17M |
| Total assets | $1.5B | $1.8B | $1.6B | $2.6B | $2.3B | $2.4B | $2.6B | $3.0B | $2.9B | $3.9B |
| Total current liabilities | $548M | $606M | $493M | $595M | $503M | $618M | $759M | $842M | $766M | $829M |
| Long-term debt | $552M | $629M | $626M | $624M | $773M | $739M | $712M | $713M | $716M | $1.1B |
| Total liabilities | $1.2B | $1.3B | $1.2B | $2.1B | $2.1B | $2.1B | $2.3B | $2.5B | $2.4B | $3.1B |
| Shareholders' equity | $351M | $496M | $392M | $421M | $198M | $220M | $324M | $515M | $508M | $770M |
| Net debt | $385M | $325M | $433M | $505M | $611M | $465M | $464M | $518M | $584M | $764M |
Cash flow
Fiscal years, from Arcos Dorados's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $164M | $255M | $180M | $223M | $16M | $258M | $345M | $382M | $267M | $296M |
| Capital spending | $92M | $175M | $197M | $265M | $86M | $115M | $217M | $360M | $328M | $281M |
| Free cash flow | $72M | $80M | -$17M | -$42M | -$70M | $143M | $128M | $22M | -$61M | $15M |
| Dividends paid | $0 | $0 | $21M | $22M | $10M | $21,000 | $32M | $40M | $51M | $51M |
| Share buybacks (net) | $0 | $0 | -$46M | -$14M | $0 | $0 | — | — | — | — |
| Net borrowing | -$2M | $0 | $0 | $13M | -$11M | $0 | $359,000 | $29M | — | — |
| Free cash flow margin | 2.5% | 2.4% | -0.6% | -1.4% | -3.5% | 5.4% | 3.5% | 0.5% | -1.4% | 0.3% |
| Dividends per share | — | — | $0.10 | $0.11 | $0.05 | $0.00 | $0.15 | $0.19 | $0.24 | $0.24 |
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Open ARCO in InvestinglyQuestions
What was Arcos Dorados's revenue in 2025?
$4.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does Arcos Dorados generate?
$15M in fiscal 2025 (operating cash flow minus capital spending).
From Arcos Dorados's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.