McDonald's aggressively shifted toward a franchised model. While this reduced top-line accounting revenue by replacing direct store sales with smaller royalty cuts, it drastically improved profit margins and cash flow predictability.
The explosive growth of McDonald's Corp (MCD) in 2017 was driven by a highly successful corporate turnaround strategy: is mcdonald's a good stock to buy 2017
The stock delivered a massive 47.60% gain in 2017 alone. McDonald's aggressively shifted toward a franchised model