MCD
$231.89+0.03%
as of close, Oct 2, 2026
☾ AH $231.89 +0.03%
McDonald's CorporationStock · Consumer DiscretionaryDow Jones 3.1%S&P 500 0.3%Russell 1000 0.3%US Stock Market 0.3%Russell 3000 0.3%MSCI World 0.2%MSCI ACWI 0.2%S&P 500 Equal Weight 0.2%
MCD financial statements
The full income statement, balance sheet, and cash-flow statement for McDonald's Corporation (MCD), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 717.3M2024-09 716.6M2024-12 714.5M2025-03 715.0M2025-06 713.6M2025-09 712.2M2025-12 710.4M2026-03 710.5M2026-06 707.6M-1.4% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 26.9B+3.7% | 25.9B+1.7% | 25.5B+10.0% | 23.2B-0.2% | 23.2B+20.9% | |
| Selling, general & administrative | 3.04B+6.3% | 2.86B+1.5% | 2.82B-1.6% | 2.86B | — | |
| Restructuring | 229M+3.6% | 221M-23.8% | 290M | — | — | |
| Operating income | 12.4B+5.8% | 11.7B+0.6% | 11.6B+24.3% | 9.37B-9.5% | 10.4B+41.4% | |
| Interest expense | 1.58B+5.0% | 1.51B+10.7% | 1.36B+12.8% | 1.21B+1.8% | 1.19B-2.7% | |
| Other non-operating income | 87.0M-37.4% | 139M-41.1% | 236M+169.6% | -339M-701.4% | -42.3M-221.6% | |
| Equity-method income | 190M+21.0% | 157M+2.6% | 153M+35.4% | 113M-36.0% | 177M+50.5% | |
| Income tax | 2.33B+10.0% | 2.12B+3.3% | 2.05B+24.6% | 1.65B+4.1% | 1.58B+12.2% | |
| Net income | 8.56B+4.1% | 8.22B-2.9% | 8.47B+37.1% | 6.18B-18.1% | 7.55B+59.5% | |
| $11.95+4.9% | $11.39-1.5% | $11.56+38.8% | $8.33-17.0% | $10.04+59.1% | ||
| EPS (basic) | $12.00+4.8% | $11.45-1.5% | $11.63+38.6% | $8.39-17.0% | $10.11+59.2% | |
| Weighted-avg shares (basic) | — | — | — | 737M-1.3% | 746M+0.2% | |
| Weighted-avg shares (diluted) | — | — | — | 741M-1.4% | 752M+0.2% | |
| Dividends per share | $7.17+5.8% | $6.78+8.8% | $6.23+10.1% | $5.66+7.8% | $5.25+4.2% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 4.16B-9.5% | 4.60B-42.4% | 7.99B+47.2% | 5.42B-24.1% | 7.15B+14.5% | ||
| Cash & equivalents | 774M-28.7% | 1.08B-76.3% | 4.58B+77.2% | 2.58B-45.1% | 4.71B+36.5% | |
| Inventory | 61.0M+8.9% | 56.0M+5.7% | 53.0M+1.9% | 52.0M-6.5% | 55.6M+8.8% | |
| Prepaid expenses | 863M-19.6% | 1.07B+24.0% | 866M+28.6% | 673M+31.7% | 511M-19.2% | |
| 59.5B+7.9% | 55.2B-1.7% | 56.1B+11.3% | 50.4B-6.3% | 53.9B+2.3% | ||
| Property, plant & equipment | 28.2B+11.6% | 25.3B+1.6% | 24.9B+4.8% | 23.8B-3.8% | 24.7B-1.0% | |
| Operating lease right-of-use | 14.6B+9.5% | 13.3B-1.3% | 13.5B+7.5% | 12.6B-7.3% | 13.6B-2.0% | |
| Goodwill | 3.35B+6.6% | 3.15B+3.5% | 3.04B+4.8% | 2.90B+4.2% | 2.78B+0.3% | |
| Other non-current assets | 6.33B+3.9% | 6.09B+8.5% | 5.62B+19.3% | 4.71B+5.8% | 4.45B+26.1% | |
| 4.36B+13.0% | 3.86B-43.7% | 6.86B+80.4% | 3.80B-5.4% | 4.02B-35.0% | ||
| Accounts payable | 1.15B+11.7% | 1.03B-6.7% | 1.10B+12.5% | 980M-2.6% | 1.01B+35.8% | |
| Short-term & current debt | 725M | 0.00-100.0% | 2.19B | 0.00 | 0.00-100.0% | |
| Current lease liability | 694M+9.1% | 636M-7.6% | 688M+4.1% | 661M-6.3% | 706M+0.6% | |
| Finance lease liability (current) | 23.0M+109.1% | 11.0M | — | — | — | |
| Long-term debt | 40.0B+4.0% | 38.4B+3.4% | 37.2B+3.5% | 35.9B+0.8% | 35.6B+1.2% | |
| Deferred revenue (non-current) | 945M+21.5% | 778M-1.5% | 790M+4.2% | 758M+2.6% | 738M+5.2% | |
| Non-current lease liability | 14.1B+9.8% | 12.9B-1.3% | 13.1B+7.6% | 12.1B-6.8% | 13.0B-2.3% | |
| Operating lease liability (total) | — | — | 12.2B-4.9% | 12.8B-6.8% | 13.7B-2.1% | |
| Finance lease liability (total) | 2.35B+32.1% | 1.78B+13.0% | 1.58B | — | — | |
| Finance lease liability | 2.33B+31.6% | 1.77B | — | — | — | |
| Deferred tax liabilities | 1.04B-45.8% | 1.91B+13.9% | 1.68B-15.8% | 2.00B-3.8% | 2.08B+2.5% | |
| Other non-current liabilities | 704M-8.7% | 771M-18.8% | 950M-9.7% | 1.05B-2.7% | 1.08B+2.6% | |
| -1.79B+52.8% | -3.80B+19.3% | -4.71B+21.6% | -6.00B-30.5% | -4.60B+41.2% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 17.0M+0.0% | 17.0M+0.0% | 17.0M+2.4% | 16.6M+0.0% | 16.6M+0.0% | |
| Additional paid-in capital | 9.64B+3.9% | 9.28B+4.4% | 8.89B+4.0% | 8.55B+3.8% | 8.23B+4.2% | |
| Retained earnings | 70.3B+5.2% | 66.8B+5.3% | 63.5B+6.6% | 59.5B+3.5% | 57.5B+6.7% | |
| Treasury stock | 79.3B+2.5% | 77.4B+3.7% | 74.6B+4.2% | 71.6B+5.6% | 67.8B+1.1% | |
| Accumulated other comprehensive income | -2.41B+5.4% | -2.55B-3.9% | -2.46B+1.2% | -2.49B+3.4% | -2.57B+0.5% | |
| Total liabilities & equity | 59.5B+7.9% | 55.2B-1.7% | 56.1B+11.3% | 50.4B-6.3% | 53.9B+2.3% | |
| Common shares issued | 1.66B+0.0% | 1.66B+0.0% | 1.66B+0.0% | 1.66B+0.0% | 1.66B+0.0% | |
| Shares outstanding (cover) | 710M-0.6% | 714M-1.1% | 722M-1.3% | 731M-1.6% | 744M-0.3% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 10.6B+11.7% | 9.45B-1.7% | 9.61B+30.1% | 7.39B-19.2% | 9.14B+45.9% | ||
| Depreciation & amortization | 457M+2.2% | 447M+17.0% | 382M+3.2% | 370M+12.2% | 330M+9.7% | |
| Share-based compensation | 165M-4.1% | 172M-1.7% | 175M+4.8% | 167M+20.0% | 139M+50.6% | |
| Deferred income taxes | -126M+78.0% | -574M+16.3% | -686M-98.3% | -346M+19.2% | -428M-6792.2% | |
| Change in payables | 100M+1100.0% | -10.0M-120.0% | 50.0M+61.3% | 31.0M-86.2% | 225M+263.6% | |
| -3.82B+28.5% | -5.35B-67.8% | -3.19B-18.9% | -2.68B-23.7% | -2.17B-40.1% | ||
| Capital expenditure | 3.37B+21.3% | 2.77B+17.7% | 2.36B+24.1% | 1.90B-6.9% | 2.04B+24.3% | |
| Free cash flow | 7.19B+7.7% | 6.67B-8.0% | 7.25B+32.2% | 5.49B-22.7% | 7.10B+53.6% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Proceeds from sale of PP&E | 130M+6.6% | 122M+28.4% | 95.0M+143.6% | 39.0M-63.3% | 106M+287.6% | |
| Other investing activities | 579M+16.3% | 498M-26.3% | 676M+47.9% | 457M+747.9% | 53.9M+193.9% | |
| -7.13B+4.9% | -7.50B-71.4% | -4.37B+33.5% | -6.58B-17.6% | -5.60B-148.8% | ||
| Long-term debt issued | 4.72B+98.5% | 2.38B-54.4% | 5.22B+54.7% | 3.37B+192.3% | 1.15B-79.2% | |
| Long-term debt repaid | 4.80B+72.9% | 2.78B+13.8% | 2.44B+10.9% | 2.20B-1.7% | 2.24B-7.1% | |
| Net short-term debt | 6.00M-98.2% | 326M+53.1% | 213M+719.2% | 26.0M+72.2% | 15.1M+101.7% | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 2.06B-27.2% | 2.82B-7.5% | 3.05B-21.6% | 3.90B+360.8% | 846M-6.9% | |
| Dividends paid | 5.12B+5.0% | 4.87B+7.4% | 4.53B+8.8% | 4.17B+6.4% | 3.92B+4.4% | |
| Other financing activities | -167M-198.2% | -56.0M-40.0% | -40.0M-205.3% | 38.0M+181.4% | -46.7M+61.7% | |
| FX effect on cash | 86.0M+185.1% | -101M-74.1% | -58.0M+77.2% | -254M-111.5% | -120M-249.8% | |
| Net change in cash | -311M+91.1% | -3.49B-275.1% | 2.00B+193.9% | -2.13B-268.7% | 1.26B-50.6% | |
| Interest paid | 1.55B+2.1% | 1.52B+18.3% | 1.29B+8.7% | 1.18B-1.1% | 1.20B+5.4% | |
| Income taxes paid | 2.69B-10.4% | 3.00B+0.2% | 2.99B-1.0% | 3.02B+25.8% | 2.40B+66.7% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 217B+4.8% | 207B-3.7% | 215B+11.4% | 193B-3.2% | 199B+24.6% | |
| P/E | 25.4×+0.7% | 25.2×-2.4% | 25.8×-20.9% | 32.6×+23.6% | 26.4×-21.9% | |
| P/S | 8.1×+1.1% | 8.0×-7.1% | 8.6×+3.6% | 8.3×-3.3% | 8.6×+3.1% | |
| P/FCF | 30.2×-2.7% | 31.0×+3.9% | 29.9×-10.3% | 33.3×+18.7% | 28.1×-18.9% | |
| Earnings yield | 3.9%-0.7% | 4.0%+2.5% | 3.9%+26.5% | 3.1%-19.1% | 3.8%+28.0% | |
| FCF yield | 3.3%+2.7% | 3.2%-3.7% | 3.3%+11.5% | 3.0%-15.7% | 3.6%+23.3% | |
| Dividend yield | 2.3%+0.3% | 2.3%+11.3% | 2.1%-2.2% | 2.1%+9.7% | 2.0%-16.6% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: MCD’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MCD filings on SEC EDGAR → Not investment advice.