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Ranked: The Most Popular Fast Food Brands in America

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fast food brands ranked by systemwide sales in 2021

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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:

RankCompanySystemwide Sales (2021)Category
#1McDonald's$46.0 billionBurger
#2Starbucks$24.3 billionSnack
#3Chick-fil-A$16.7 billionChicken
#4Taco Bell$12.6 billionGlobal
#5Wendy's$11.1 billionBurger
#6Dunkin'$10.4 billionSnack
#7Burger King$10.0 billionBurger
#8Subway$9.4 billionSandwich
#9Domino's$8.6 billionPizza
#10Chipotle$7.5 billionGlobal
#11Sonic Drive-In$5.8 billionBurger
#12Panera Bread$5.7 billionSandwich
#13Pizza Hut$5.5 billionPizza
#14KFC$5.1 billionChicken
#15Popeyes Louisiana Kitchen$4.8 billionChicken
#16Dairy Queen$4.5 billionSnack
#17Arby's$4.5 billionSandwich
#18Panda Express$4.5 billionGlobal
#19Little Caesars$4.2 billionPizza
#20Jack in the Box$4.1 billionBurger
#21Papa Johns$3.5 billionPizza
#22Whataburger$2.7 billionBurger
#23Culver's$2.5 billionBurger
#24Raising Caine's$2.4 billionChicken
#25Jimmy John's$2.3 billionSandwich
#26Wingstop$2.3 billionChicken
#27Zaxby's$2.2 billionChicken
#28Jersey Mike's$2.2 billionSandwich
#29Hardee's$2.1 billionBurger
#30Five Guys$2.1 billionBurger
#31Carl's Jr.$1.6 billionBurger
#32Bojangles$1.5 billionChicken
#33In-N-Out Burger$1.2 billionBurger
#34Firehouse Subs$1.0 billionSandwich
#35Krispy Kreme$996 millionSnack
#36Pel Pollo Loco$973 millionChicken
#37Tropical Smoothie Cafe$948 millionSnack
#38Del Taco$931 millionGlobal
#39Checkers/Rally's$931 millionBurger
#40Marco's Pizza$899 millionPizza
#41McAlister's Deli$869 millionSandwich
#42Qdoba$835 millionGlobal
#43Papa Murphy's$809 millionPizza
#44Church's Chicken$776 millionChicken
#45Shake Shack$775 millionBurger
#46Freddy's Frozen Custard & Steakburger$759 millionBurger
#47Tim Hortons$687 millionSnack
#48Baskin-Robbins$686 millionSnack
#49Moe's$661 millionGlobal
#50White Castle$615 millionBurger

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:

RankCompanySystemwide Sales (2021)Category
#1Smoothie King$602 millionSnack
#2Habit Burger$600 millionBurger
#3Auntie Anne's$576 millionSnack
#4Captain D's$567 millionSeafood
#5Steak 'N' Shake$539 millionBurger
#6Portillo's$526 millionSnack
#7Jamba$505 millionSnack
#8Schlotzsky's$332 millionSandwich
#9Krystal$323 millionBurger
#10Fazoli's$298 millionGlobal
#11Pizza Ranch$279 millionPizza
#12Scooter's Coffee$263 millionSnack
#13Penn Station$258 millionSandwich
#14Chicken Salad Chick$255 millionChicken
#15Mountain Mike's$254 millionPizza
#16Smashburger$253 millionBurger
#17Cinnabon$224 millionSnack
#18Wetzel's$219 millionSnack
#19Donatos$211 millionPizza
#20Newk's$208 millionSandwich
#21Bonchon$173 millionChicken
#22Waba Grill$170 millionGlobal
#23The Human Bean $109 millionSnack
#24Capriotti's$108 millionSandwich
#25Great Harvest Bread Company$108 millionSandwich
#26Teriyaki Madness$90 millionGlobal
#27Roy Rogers$82 millionBurger
#28Pizza Guys$79 millionPizza
#29Mooyah$71 millionBurger
#30Salsarita's$68 millionGlobal
#31Dog Haus$67 millionSnack
#32Gold Star$61 millionBurger
#33Hawaiian Bros$55 millionGlobal
#34Honeygrow$55 millionGlobal
#35Robeks$50 millionSnack
#36PJ’s Coffee of New Orleans$46 millionSnack
#37Kolache Factory$46 millionSnack
#38Juice it Up!$43 millionSnack
#39Happy Joe's$38 millionPizza
#40Rusty Taco$35 millionGlobal
#41Wing Zone$34 millionChicken
#42Swig$29 millionSnack
#43Pickleman's$29 millionSandwich
#44Killer Burger$17 millionBurger
#45Wing Snob$15 millionChicken
#46Sobol$13 millionGlobal
#47Bad Ass Coffee of Hawaii$12 millionSnack
#48Asian Box$11 millionGlobal
#49Sauce on the Side$9 millionGlobal
#50Mici Italian$6 millionGlobal

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:

RankFood CategoryCategory Cumulative Sales
#1Burger$92.2 billion
#2Snack $42.5 billion
#3Chicken$36.7 billion
#4Global$27.0 billion
#5Sandwich$25.9 billion
#6Pizza$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.

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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?

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A line chart showing the historical return performance of small-, mid-, and large-cap stocks.

 

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The following content is sponsored by New York Life Investments
An infographic comparing low-, mid-, and large-cap stocks, including an area graph showing historical returns, a bubble chart showing how much $100 would be worth over 35 years, a horizontal bar graph showing annualized volatility, and a line graph showing relative forward price-to-earnings ratios, that together show that mid-cap stocks present a compelling investment opportunity.

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.  

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 CapsMid CapsLarge 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. 

Higher Volatility

However, higher historical returns of small- and mid-cap stocks came with increased risk. They both endured greater volatility than large caps. 

Small CapsMid CapsLarge Caps
Total Volatility18.9%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. 

Small Caps/Large CapsMid Caps/Large Caps
Relative Forward P/E Ratios0.710.75
Discount29%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.

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