Starbucks and McDonald’s continue to be the world’s most valuable restaurant brands, according to the 2023 “Restaurants 25” report from independent brand valuation consultancy Brand Finance.

The firm’s annual report uses factors such as brand strength, market share and royalty rates to evaluate the year’s 25 most valuable restaurant brands throughout the globe.

After holding the top spot among the most valuable restaurant brands for the past six years, No. 1-ranked Starbucks has further strengthened its hold in the category. Brand Finance found Starbuck’s brand value increased 17%, up to $53.4 billion through 2022, widening the gap between itself and McDonald’s Corp., the second most valuable restaurant brand.