Markets
Ranked: The Most Popular Fast Food Brands in America
Ranked: The Most Popular Fast Food Brands in America
Ever since the McDonald brothers created the concept of fast food in 1940, the restaurant’s golden arches have continued to beckon customers to its quick, cheap, and tasty meals.
McDonald’s is still the most popular fast food brand in America today—with $46 billion in systemwide sales last year.
This graphic uses data from a report on America’s top 50 fast food chains by Quick Service Restaurant (QSR) Magazine. The popular brands are sized by their 2021 systemwide sales and broken down into six broad categories: Burger, Chicken, Snack, Pizza, Sandwich, and Global.
Note: a number of these figures are estimates. Unofficial figures are noted in the graphic with an asterisk.
The Most Popular Fast Food Companies
It’s indisputable that McDonald’s is America’s favorite fast food restaurant, if not the world’s. McDonald’s sales are almost double the second the place restaurant’s, Starbucks—totaling $46 billion compared to the coffee shop’s $24 billion.
Here’s a closer look at the numbers:
Rank | Company | Systemwide Sales (2021) | Category |
---|---|---|---|
#1 | McDonald's | $46.0 billion | Burger |
#2 | Starbucks | $24.3 billion | Snack |
#3 | Chick-fil-A | $16.7 billion | Chicken |
#4 | Taco Bell | $12.6 billion | Global |
#5 | Wendy's | $11.1 billion | Burger |
#6 | Dunkin' | $10.4 billion | Snack |
#7 | Burger King | $10.0 billion | Burger |
#8 | Subway | $9.4 billion | Sandwich |
#9 | Domino's | $8.6 billion | Pizza |
#10 | Chipotle | $7.5 billion | Global |
#11 | Sonic Drive-In | $5.8 billion | Burger |
#12 | Panera Bread | $5.7 billion | Sandwich |
#13 | Pizza Hut | $5.5 billion | Pizza |
#14 | KFC | $5.1 billion | Chicken |
#15 | Popeyes Louisiana Kitchen | $4.8 billion | Chicken |
#16 | Dairy Queen | $4.5 billion | Snack |
#17 | Arby's | $4.5 billion | Sandwich |
#18 | Panda Express | $4.5 billion | Global |
#19 | Little Caesars | $4.2 billion | Pizza |
#20 | Jack in the Box | $4.1 billion | Burger |
#21 | Papa Johns | $3.5 billion | Pizza |
#22 | Whataburger | $2.7 billion | Burger |
#23 | Culver's | $2.5 billion | Burger |
#24 | Raising Caine's | $2.4 billion | Chicken |
#25 | Jimmy John's | $2.3 billion | Sandwich |
#26 | Wingstop | $2.3 billion | Chicken |
#27 | Zaxby's | $2.2 billion | Chicken |
#28 | Jersey Mike's | $2.2 billion | Sandwich |
#29 | Hardee's | $2.1 billion | Burger |
#30 | Five Guys | $2.1 billion | Burger |
#31 | Carl's Jr. | $1.6 billion | Burger |
#32 | Bojangles | $1.5 billion | Chicken |
#33 | In-N-Out Burger | $1.2 billion | Burger |
#34 | Firehouse Subs | $1.0 billion | Sandwich |
#35 | Krispy Kreme | $996 million | Snack |
#36 | Pel Pollo Loco | $973 million | Chicken |
#37 | Tropical Smoothie Cafe | $948 million | Snack |
#38 | Del Taco | $931 million | Global |
#39 | Checkers/Rally's | $931 million | Burger |
#40 | Marco's Pizza | $899 million | Pizza |
#41 | McAlister's Deli | $869 million | Sandwich |
#42 | Qdoba | $835 million | Global |
#43 | Papa Murphy's | $809 million | Pizza |
#44 | Church's Chicken | $776 million | Chicken |
#45 | Shake Shack | $775 million | Burger |
#46 | Freddy's Frozen Custard & Steakburger | $759 million | Burger |
#47 | Tim Hortons | $687 million | Snack |
#48 | Baskin-Robbins | $686 million | Snack |
#49 | Moe's | $661 million | Global |
#50 | White Castle | $615 million | Burger |
Most of the top 20 restaurants are extremely well known, like Chick-fil-A in third place and Taco Bell in fourth. Some of these chains, however, will be unrecognizable depending on which part of the U.S. you live in. While Bojangles is ubiquitous in the Southeast, for example, many on the West Coast may have never heard of it.
Some of the lower ranking restaurants include Shake Shack (#45), White Castle (#50), and the Canadian-founded Tim Hortons (#47).
Fast Food Industry Trends
America’s fast food industry is expected to generate $331 billion in sales in 2022, and many restaurants are capitalizing on trends shaped in part by the pandemic.
Fast food companies are already somewhat ideal for pandemic conditions with drive-thrus, fast service, and a model that doesn’t encourage sitting down to eat.
Looking to the future, Starbucks, for example, has claimed 90% of its new stores will feature drive-thrus. Digital sales and transactions that limit contact, making fast food even more quick and convenient, are growing as well. Starbucks’ mobile order service has grown 400% over the last five years. And in 2021, the delivery side of their business grew 30% year-over-year, according to the QSR report.
Additionally, the report featured 50 up-and-coming fast food companies to watch in the industry. Here’s a look:
Rank | Company | Systemwide Sales (2021) | Category |
---|---|---|---|
#1 | Smoothie King | $602 million | Snack |
#2 | Habit Burger | $600 million | Burger |
#3 | Auntie Anne's | $576 million | Snack |
#4 | Captain D's | $567 million | Seafood |
#5 | Steak 'N' Shake | $539 million | Burger |
#6 | Portillo's | $526 million | Snack |
#7 | Jamba | $505 million | Snack |
#8 | Schlotzsky's | $332 million | Sandwich |
#9 | Krystal | $323 million | Burger |
#10 | Fazoli's | $298 million | Global |
#11 | Pizza Ranch | $279 million | Pizza |
#12 | Scooter's Coffee | $263 million | Snack |
#13 | Penn Station | $258 million | Sandwich |
#14 | Chicken Salad Chick | $255 million | Chicken |
#15 | Mountain Mike's | $254 million | Pizza |
#16 | Smashburger | $253 million | Burger |
#17 | Cinnabon | $224 million | Snack |
#18 | Wetzel's | $219 million | Snack |
#19 | Donatos | $211 million | Pizza |
#20 | Newk's | $208 million | Sandwich |
#21 | Bonchon | $173 million | Chicken |
#22 | Waba Grill | $170 million | Global |
#23 | The Human Bean | $109 million | Snack |
#24 | Capriotti's | $108 million | Sandwich |
#25 | Great Harvest Bread Company | $108 million | Sandwich |
#26 | Teriyaki Madness | $90 million | Global |
#27 | Roy Rogers | $82 million | Burger |
#28 | Pizza Guys | $79 million | Pizza |
#29 | Mooyah | $71 million | Burger |
#30 | Salsarita's | $68 million | Global |
#31 | Dog Haus | $67 million | Snack |
#32 | Gold Star | $61 million | Burger |
#33 | Hawaiian Bros | $55 million | Global |
#34 | Honeygrow | $55 million | Global |
#35 | Robeks | $50 million | Snack |
#36 | PJ’s Coffee of New Orleans | $46 million | Snack |
#37 | Kolache Factory | $46 million | Snack |
#38 | Juice it Up! | $43 million | Snack |
#39 | Happy Joe's | $38 million | Pizza |
#40 | Rusty Taco | $35 million | Global |
#41 | Wing Zone | $34 million | Chicken |
#42 | Swig | $29 million | Snack |
#43 | Pickleman's | $29 million | Sandwich |
#44 | Killer Burger | $17 million | Burger |
#45 | Wing Snob | $15 million | Chicken |
#46 | Sobol | $13 million | Global |
#47 | Bad Ass Coffee of Hawaii | $12 million | Snack |
#48 | Asian Box | $11 million | Global |
#49 | Sauce on the Side | $9 million | Global |
#50 | Mici Italian | $6 million | Global |
Some of these are well-established fast food joints that are simply growing their sales, like Cinnabon, while others are newer to the scene.
America’s Favorite Fast Food
Using the ranking’s food categories, we calculated the total sales in each category from the top 50 to figure out which foods are America’s favorites. The winner is evidently burgers, with $92.2 billion in collective sales. Here’s a look at the breakdown:
Rank | Food Category | Category Cumulative Sales |
---|---|---|
#1 | Burger | $92.2 billion |
#2 | Snack | $42.5 billion |
#3 | Chicken | $36.7 billion |
#4 | Global | $27.0 billion |
#5 | Sandwich | $25.9 billion |
#6 | Pizza | $23.5 billion |
Sales at Burger restaurants were more than double the runner-up, which was Snacks. After all, nothing is more American than a classic hamburger and fries.
Markets
Beyond Big Names: The Case for Small- and Mid-Cap Stocks
Small- and mid-cap stocks have historically outperformed large caps. What are the opportunities and risks to consider?
Beyond Big Names: The Case for Small- and Mid-Cap Stocks
Over the last 35 years, small- and mid-cap stocks have outperformed large caps, making them an attractive choice for investors.
According to data from Yahoo Finance, from February 1989 to February 2024, large-cap stocks returned +1,664% versus +2,062% for small caps and +3,176% for mid caps. Â
This graphic, sponsored by New York Life Investments, explores their return potential along with the risks to consider.
Higher Historical Returns
If you made a $100 investment in baskets of small-, mid-, and large-cap stocks in February 1989, what would each grouping be worth today?
Small Caps | Mid Caps | Large Caps | |
---|---|---|---|
Starting value (February 1989) | $100 | $100 | $100 |
Ending value (February 2024) | $2,162 | $3,276 | $1,764 |
Source: Yahoo Finance (2024). Small caps, mid caps, and large caps are represented by the S&P 600, S&P 400, and S&P 500 respectively.
Mid caps delivered the strongest performance since 1989, generating 86% more than large caps.
This superior historical track record is likely the result of the unique position mid-cap companies find themselves in. Mid-cap firms have generally successfully navigated early stage growth and are typically well-funded relative to small caps. And yet they are more dynamic and nimble than large-cap companies, allowing them to respond quicker to the market cycle.
Small caps also outperformed over this timeframe. They earned 23% more than large caps.Â
Higher Volatility
However, higher historical returns of small- and mid-cap stocks came with increased risk. They both endured greater volatility than large caps.Â
Small Caps | Mid Caps | Large Caps | |
---|---|---|---|
Total Volatility | 18.9% | 17.4% | 14.8% |
Source: Yahoo Finance (2024). Small caps, mid caps, and large caps are represented by the S&P 600, S&P 400, and S&P 500 respectively.
Small-cap companies are typically earlier in their life cycle and tend to have thinner financial cushions to withstand periods of loss relative to large caps. As a result, they are usually the most volatile group followed by mid caps. Large-cap companies, as more mature and established players, exhibit the most stability in their stock prices.
Investing in small caps and mid caps requires a higher risk tolerance to withstand their price swings. For investors with longer time horizons who are capable of enduring higher risk, current market pricing strengthens the case for stocks of smaller companies.
Attractive Valuations
Large-cap stocks have historically high valuations, with their forward price-to-earnings ratio (P/E ratio) trading above their 10-year average, according to analysis conducted by FactSet.
Conversely, the forward P/E ratios of small- and mid-cap stocks seem to be presenting a compelling entry point.Â
Small Caps/Large Caps | Mid Caps/Large Caps | |
---|---|---|
Relative Forward P/E Ratios | 0.71 | 0.75 |
Discount | 29% | 25% |
Source: Yardeni Research (2024). Small caps, mid caps, and large caps are represented by the S&P 600, S&P 400, and S&P 500 respectively.
Looking at both groups’ relative forward P/E ratios (small-cap P/E ratio divided by large-cap P/E ratio, and mid-cap P/E ratio divided by large-cap P/E ratio), small and mid caps are trading at their steepest discounts versus large caps since the early 2000s.
Discovering Small- and Mid-Cap Stocks
Growth-oriented investors looking to add equity exposure could consider incorporating small and mid caps into their portfolios.
With superior historical returns and relatively attractive valuations, small- and mid-cap stocks present a compelling opportunity for investors capable of tolerating greater volatility.
Explore more insights from New York Life Investments
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