M 
McDonald's MCD · USD
Consumer Discretionary · Hotels, Restaurants & Leisure · US listing · 🇺🇸 United States
S&P 500Dow Jones
281.44
+1.78%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$26.89bn
FY2016FY2025
Net income
$8.56bn
FY2016FY2025
Free cash flow
$7.19bn
FY2016FY2025
Shareholders' equity
−$1.79bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $26.89bn | $25.92bn | $25.50bn | $23.18bn | $23.22bn | $19.21bn | $21.36bn | $21.26bn | $22.82bn | $24.62bn |
| Gross profit | $15.44bn | $14.71bn | $14.56bn | $13.21bn | $12.58bn | $9.75bn | $11.18bn | $10.83bn | $10.62bn | $10.20bn |
| Operating income | $12.39bn | $11.71bn | $11.65bn | $9.37bn | $10.31bn | $7.32bn | $9.07bn | $8.82bn | $9.55bn | $7.74bn |
| Net income | $8.56bn | $8.22bn | $8.47bn | $6.18bn | $7.55bn | $4.73bn | $6.03bn | $5.92bn | $5.19bn | $4.69bn |
| Diluted earnings per share | 11.99 | 11.43 | 11.64 | 8.39 | 10.04 | 6.30 | 7.97 | 7.63 | 6.47 | 5.65 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $59.52bn | $55.18bn | $56.15bn | $50.44bn | $53.85bn | $52.63bn | $47.51bn | $32.81bn | $33.80bn | $31.02bn |
| Cash and short-term investments | $774.0m | $1.08bn | $4.58bn | $2.58bn | $4.71bn | $3.45bn | $898.5m | $866.0m | $2.46bn | $1.22bn |
| Total liabilities | $61.31bn | $58.98bn | $60.85bn | $56.44bn | $58.46bn | $60.45bn | $55.72bn | $39.07bn | $37.07bn | $33.23bn |
| Debt | $39.97bn | $40.20bn | $40.92bn | $35.90bn | $35.62bn | $37.44bn | $34.18bn | $31.08bn | $29.54bn | $25.96bn |
| Shareholders' equity | −$1.79bn | −$3.80bn | −$4.71bn | −$6.00bn | −$4.60bn | −$7.82bn | −$8.21bn | −$6.26bn | −$3.27bn | −$2.20bn |
| Shares outstanding | 714m | 720m | 728m | 736m | 752m | 751m | 756m | 777m | 803m | 830m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $10.55bn | $9.45bn | $9.61bn | $7.39bn | $9.14bn | $6.27bn | $8.12bn | $6.97bn | $5.55bn | $6.06bn |
| Capital spending | −$3.37bn | −$2.77bn | −$2.36bn | −$1.90bn | −$2.04bn | −$1.64bn | −$2.39bn | −$2.74bn | −$1.85bn | −$1.82bn |
| Free cash flow | $7.19bn | $6.67bn | $7.25bn | $5.49bn | $7.10bn | $4.62bn | $5.73bn | $4.22bn | $3.70bn | $4.24bn |
| Dividends paid | −$5.12bn | −$4.87bn | −$4.53bn | −$4.17bn | −$3.92bn | −$3.75bn | −$3.58bn | −$3.26bn | −$3.09bn | −$3.06bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.10bn | $6.52bn | $7.01bn | $7.08bn | $6.84bn | $5.96bn | $6.39bn | $6.87bn |
| Gross profit | $4.12bn | $3.64bn | $4.03bn | $4.11bn | $3.96bn | $3.34bn | $3.68bn | $3.88bn |
| Operating income | $3.34bn | $2.88bn | $3.16bn | $3.36bn | $3.23bn | $2.65bn | $2.87bn | $3.19bn |
| Net income | $2.36bn | $1.98bn | $2.16bn | $2.28bn | $2.25bn | $1.87bn | $2.02bn | $2.25bn |
| Diluted earnings per share | 3.31 | 2.78 | 3.03 | 3.19 | 3.15 | 2.62 | 2.80 | 3.13 |
| Cash from operations | $2.81bn | $2.41bn | $2.70bn | $3.43bn | $2.00bn | $2.43bn | $2.63bn | $2.74bn |
| Capital spending | −$831.0m | −$682.0m | −$1.06bn | −$1.01bn | −$744.0m | −$551.0m | −$807.0m | −$794.0m |
| Free cash flow | $1.98bn | $1.73bn | $1.64bn | $2.42bn | $1.25bn | $1.88bn | $1.82bn | $1.94bn |
| Total assets | $59.92bn | $60.04bn | $59.52bn | $60.61bn | $59.55bn | $56.33bn | $55.18bn | $56.17bn |
| Cash and short-term investments | $822.0m | $1.17bn | $774.0m | $2.41bn | $1.88bn | $1.24bn | $1.08bn | $1.22bn |
| Debt | $40.55bn | $40.81bn | $40.67bn | $41.98bn | $42.09bn | $39.59bn | $40.83bn | $40.25bn |
| Shareholders' equity | −$1.02bn | −$1.29bn | −$1.79bn | −$2.16bn | −$2.76bn | −$3.45bn | −$3.80bn | −$5.18bn |
Financial ratios
Data as of 4 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 57.4% | 56.8% | 57.1% | 57.0% | 54.2% | 50.8% |
| Operating margin | 46.1% | 45.2% | 45.7% | 40.4% | 44.4% | 38.1% |
| Net margin | 31.9% | 31.7% | 33.2% | 26.6% | 32.5% | 24.6% |
| Return on equity | -478.1% | -216.6% | -180.0% | -102.9% | -164.0% | -60.5% |
| Return on assets | 14.4% | 14.9% | 15.1% | 12.2% | 14.0% | 9.0% |
| Free cash flow yield | 7.5% | 6.5% | 6.3% | 4.9% | 5.7% | 4.1% |
| Revenue growth | 3.7% | 1.7% | 10.0% | -0.2% | 20.9% | -10.1% |
| Earnings growth | 4.1% | -2.9% | 37.1% | -18.1% | 59.5% | -21.5% |
| Current ratio | 0.95x | 1.19x | 1.16x | 1.43x | 1.78x | 1.01x |
| Debt to equity | -22.71x | -10.29x | -8.51x | -6.09x | -7.90x | -4.87x |
| Equity ratio | -3.0% | -6.9% | -8.4% | -11.9% | -8.5% | -14.9% |
| Interest coverage | 7.83x | 7.78x | 8.56x | 7.76x | 8.70x | 6.01x |
| Buybacks as a share of market value | 0.8% | 1.1% | 1.1% | 2.1% | -0.1% | 0.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.1% | 7.0% | 0.6% |
| Operating income | 9.8% | 11.1% | 5.7% |
| Net income | 11.5% | 12.6% | 6.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 57.1% | 57.1% | 55.8% | 51.2% |
| Operating margin | 45.6% | 44.5% | 43.6% | 40.5% |
| Net margin | 31.8% | 31.0% | 30.4% | 27.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 25.5 | 25.4 | 25.5 | 31.4 | 26.7 | 34.1 | 24.8 | 23.3 | 26.6 | 21.6 |
| Price to sales | 8.1 | 8.1 | 8.5 | 8.4 | 8.7 | 8.4 | 7.0 | 6.5 | 6.1 | 4.1 |
Market value over time
31 Oct 2016 to 3 Sept 2026, in USD
$95.46bn$185.25bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 10% | 0% | 9% | 2% | 24% | 7% | 14% | 1% | 40% | 5% |
Dividends and splits
Per share, in the currency the company pays
Paid for 48 years. Last went ex-dividend on 1 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 5.58 | 7.17 | 6.78 | 6.23 | 5.66 | 5.25 | 5.04 | 4.73 |
- 2-for-1 split · 8 Mar 1999
- 2-for-1 split · 27 Jun 1994
- 2-for-1 split · 19 Jun 1989
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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