McDonald's (MCD)

NYSE Consumer Discretionary Restaurants S&P 500Dow 30

$276.52

-1.52 (-0.55%)

Close of Nov 06, 2026 · end-of-day data

Source: McDonald's's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$24.62B	$22.82B	$21.26B	$21.36B	$19.21B	$23.22B	$23.18B	$25.49B	$25.92B	$26.89B
Selling, general & admin	$2.38B	$2.23B	$2.20B	$2.23B	—	—	$2.86B	$2.82B	$2.86B	$3.04B
Operating income	$7.74B	$9.55B	$8.82B	$9.07B	$7.32B	$10.36B	$9.37B	$11.65B	$11.71B	$12.39B
Interest expense	$884.80M	$921.30M	$981.20M	$1.12B	$1.22B	$1.19B	$1.21B	$1.36B	$1.51B	$1.58B
Income tax	$2.18B	$3.38B	$1.89B	$1.99B	$1.41B	$1.58B	$1.65B	$2.05B	$2.12B	$2.33B
Net income	$4.69B	$5.19B	$5.92B	$6.03B	$4.73B	$7.55B	$6.18B	$8.47B	$8.22B	$8.56B
EBITDA	$9.26B	$10.92B	$9.04B	$9.33B	$7.62B	$10.69B	$9.74B	$12.03B	$12.16B	$12.85B
EPS (basic)	$5.49	$6.43	$7.61	$7.95	$6.35	$10.11	$8.39	$11.63	$11.45	$12.00
EPS (diluted)	$5.44	$6.37	$7.54	$7.88	$6.31	$10.04	$8.33	$11.56	$11.39	$11.95
Diluted shares	861.20M	815.50M	785.60M	764.90M	750.10M	752	741	732	722	716
Operating margin	31.5%	41.9%	41.5%	42.5%	38.1%	44.6%	40.4%	45.7%	45.2%	46.1%
Net margin	19.0%	22.8%	27.9%	28.2%	24.6%	32.5%	26.6%	33.2%	31.7%	31.9%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$1.22B	$2.46B	$866.00M	$898.50M	$3.45B	$4.71B	$2.58B	$4.58B	$1.08B	$774.00M
Inventory	$58.90M	$58.80M	$51.10M	$50.20M	$51.10M	$55.60M	$52.00M	$53.00M	$56.00M	$61.00M
Total current assets	$4.85B	$5.33B	$4.05B	$3.56B	$6.24B	$7.15B	$5.42B	$7.99B	$4.60B	$4.16B
Goodwill	$2.34B	$2.38B	$2.33B	$2.68B	$2.77B	$2.78B	$2.90B	$3.04B	$3.15B	$3.35B
Total assets	$31.02B	$33.80B	$32.81B	$47.51B	$52.63B	$53.85B	$50.44B	$56.15B	$55.18B	$59.52B
Total current liabilities	$3.47B	$2.89B	$2.97B	$3.62B	$6.18B	$4.02B	$3.80B	$6.86B	$3.86B	$4.36B
Short-term debt	$77.20M	$0	$0	$59.10M	$2.24B	$0	$0	$2.19B	$0	$725.00M
Long-term debt	$25.88B	$29.54B	$31.08B	$34.12B	$35.20B	$35.62B	$35.90B	$37.15B	$38.42B	$39.97B
Total debt	$25.96B	$29.54B	$31.08B	$34.18B	$37.44B	$35.62B	$35.90B	$39.34B	$38.42B	$40.70B
Total liabilities	$33.23B	$37.07B	$39.07B	$55.72B	$60.45B	$58.46B	$56.44B	$60.85B	$58.98B	$61.31B
Shareholders' equity	-$2.20B	-$3.27B	-$6.26B	-$8.21B	-$7.82B	-$4.60B	-$6.00B	-$4.71B	-$3.80B	-$1.79B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$6.06B	$5.55B	$6.97B	$8.12B	$6.27B	$9.14B	$7.39B	$9.61B	$9.45B	$10.55B
Capital expenditures	$1.82B	$1.85B	$2.74B	$2.39B	$1.64B	$2.04B	$1.90B	$2.36B	$2.77B	$3.37B
Free cash flow	$4.24B	$3.70B	$4.22B	$5.73B	$4.62B	$7.10B	$5.49B	$7.25B	$6.67B	$7.19B
Investing cash flow	-$981.60M	$562.00M	-$2.46B	-$3.07B	-$1.55B	-$2.17B	-$2.68B	-$3.19B	-$5.35B	-$3.82B
Financing cash flow	-$11.26B	-$5.31B	-$5.95B	-$4.99B	-$2.25B	-$5.60B	-$6.58B	-$4.37B	-$7.50B	-$7.12B
Dividends paid	$3.06B	$3.09B	$3.26B	$3.58B	$3.75B	$3.92B	$4.17B	$4.53B	$4.87B	$5.12B
Share buybacks	$11.17B	$4.69B	$5.21B	$4.98B	$907.80M	$845.50M	$3.90B	$3.05B	$2.82B	$2.06B
Stock-based compensation	$131.30M	$117.50M	$125.10M	$109.60M	$92.40M	$139.20M	$167.00M	$175.00M	$172.00M	$165.00M
Depreciation & amortization	$1.52B	$1.36B	$214.80M	$262.50M	$300.60M	$329.70M	$370.00M	$382.00M	$447.00M	$457.00M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$6.41B	$6.17B	$6.49B	$6.87B	$6.39B	$5.96B	$6.84B	$7.08B	$7.01B	$6.52B	$7.10B	$7.16B
Cost of revenue	—	$627.00M	$629.00M	$646.00M	—	$620.00M	$654.00M	$666.00M	—	$676.00M	$680.00M	$687.00M
Gross profit	—	$5.54B	$5.86B	$6.23B	—	$5.34B	$6.19B	$6.41B	—	$5.84B	$6.42B	$6.47B
Selling, general & admin	—	$720.00M	$691.00M	$647.00M	$799.00M	$682.00M	$700.00M	$785.00M	$872.00M	$759.00M	$817.00M	$759.00M
Operating income	$2.80B	$2.74B	$2.92B	$3.19B	$2.87B	$2.65B	$3.23B	$3.36B	$3.16B	$2.95B	$3.34B	$3.60B
Interest expense	$360.00M	$372.00M	$373.00M	$381.00M	$380.00M	$376.00M	$390.00M	$406.00M	$410.00M	$400.00M	$409.00M	$408.00M
Income tax	$476.00M	$479.00M	$533.00M	$588.00M	$521.00M	$461.00M	$608.00M	$671.00M	$594.00M	$559.00M	$574.00M	$702.00M
Net income	$2.04B	$1.93B	$2.02B	$2.25B	$2.02B	$1.87B	$2.25B	$2.28B	$2.16B	$1.98B	$2.36B	$2.49B
EBITDA	$2.89B	$2.83B	$3.02B	$3.30B	$3.00B	$2.75B	$3.34B	$3.48B	$3.28B	$3.06B	$3.45B	$3.71B
EPS (basic)	$2.81	$2.67	$2.81	$3.15	$2.82	$2.61	$3.15	$3.20	$3.04	$2.79	$3.33	$3.52
EPS (diluted)	$2.80	$2.66	$2.80	$3.13	$2.80	$2.60	$3.14	$3.18	$3.03	$2.78	$3.32	$3.51
Diluted shares	-2	726	722	720	-1	718	718	716	-1	714	711	708
Gross margin	—	89.8%	90.3%	90.6%	—	89.6%	90.4%	90.6%	—	89.6%	90.4%	90.4%
Operating margin	43.7%	44.4%	45.0%	46.4%	44.9%	44.5%	47.2%	47.4%	45.0%	45.3%	47.0%	50.2%
Net margin	31.8%	31.3%	31.2%	32.8%	31.6%	31.4%	32.9%	32.2%	30.9%	30.4%	33.3%	34.7%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$4.58B	$838.00M	$792.00M	$1.22B	$1.08B	$1.24B	$1.88B	$2.41B	$774.00M	$1.17B	$822.00M	$1.19B
Inventory	$53.00M	$46.00M	$46.00M	$54.00M	$56.00M	$51.00M	$55.00M	$55.00M	$61.00M	$61.00M	$58.00M	$59.00M
Total current assets	$7.99B	$4.06B	$4.21B	$4.91B	$4.60B	$4.74B	$5.60B	$6.08B	$4.16B	$4.71B	$4.34B	$4.72B
Goodwill	$3.04B	$3.03B	$3.05B	$3.22B	$3.15B	$3.19B	$3.31B	$3.31B	$3.35B	$3.35B	$3.35B	$3.35B
Total assets	$56.15B	$53.51B	$53.80B	$56.17B	$55.18B	$56.33B	$59.55B	$60.61B	$59.52B	$60.04B	$59.92B	$60.66B
Total current liabilities	$6.86B	$4.89B	$3.91B	$6.31B	$3.86B	$4.01B	$4.30B	$6.08B	$4.36B	$4.15B	$4.02B	$3.83B
Short-term debt	$2.19B	$604.00M	$0	$596.00M	$0	$80.00M	$602.00M	$1.80B	$725.00M	—	—	—
Long-term debt	$37.15B	$36.76B	$38.52B	$38.99B	$38.42B	$38.84B	$40.80B	$39.48B	$39.97B	$40.10B	$39.86B	$39.82B
Total debt	$39.34B	$37.37B	$38.52B	$39.59B	$38.42B	$38.92B	$41.40B	$41.28B	$40.70B	$40.10B	$39.86B	$39.82B
Total liabilities	$60.85B	$58.35B	$58.62B	$61.35B	$58.98B	$59.78B	$62.31B	$62.77B	$61.31B	$61.32B	$60.94B	$61.00B
Shareholders' equity	-$4.71B	-$4.83B	-$4.82B	-$5.18B	-$3.80B	-$3.45B	-$2.76B	-$2.16B	-$1.79B	-$1.29B	-$1.02B	-$343.00M

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$2.49B	$2.39B	$1.69B	$2.74B	$2.63B	$2.43B	$2.00B	$3.43B	$2.70B	$2.41B	$2.81B	$3.03B
Capital expenditures	$757.00M	$547.00M	$628.00M	$794.00M	$807.00M	$551.00M	$744.00M	$1.01B	$1.06B	$682.00M	$831.00M	$884.00M
Free cash flow	$1.73B	$1.84B	$1.06B	$1.94B	$1.82B	$1.88B	$1.25B	$2.42B	$1.64B	$1.73B	$1.98B	$2.15B
Investing cash flow	-$840.00M	-$2.49B	-$846.00M	-$1.27B	-$742.00M	-$771.00M	-$869.00M	-$1.11B	-$1.07B	-$777.00M	-$868.00M	-$835.00M
Financing cash flow	-$586.00M	-$3.66B	-$869.00M	-$1.09B	-$1.88B	-$1.54B	-$555.00M	-$1.79B	-$3.24B	-$1.23B	-$2.39B	-$1.80B
Dividends paid	$1.21B	$1.21B	$1.20B	$1.20B	$1.27B	$1.27B	$1.26B	$1.26B	$1.32B	$1.32B	$1.32B	$1.31B
Share buybacks	$851.00M	$918.00M	$934.00M	$469.00M	$503.00M	$477.00M	$505.00M	$501.00M	$573.00M	$396.00M	$856.00M	$519.00M
Stock-based compensation	$37.00M	$50.00M	$38.00M	$40.00M	$44.00M	$45.00M	$44.00M	$39.00M	$37.00M	$60.00M	$39.00M	$46.00M
Depreciation & amortization	$91.00M	$99.00M	$101.00M	$111.00M	$136.00M	$107.00M	$106.00M	$121.00M	$124.00M	$111.00M	$111.00M	$118.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.