McDonald's Corp (MCD) Financial Statements
Industry: Eating Places (Retail)
In fiscal 2025, McDonald's reported revenue of $26.89B, up 3.7% from $25.92B the year before. Net income was $8.56B (a 31.9% net margin), or $11.95 per diluted share. Gross margin was 46.1% and operating margin was 46.1%. Operating activities generated $10.55B of cash, leaving $7.19B of free cash flow. At fiscal year end, McDonald's held $59.52B in total assets against $61.31B in total liabilities, including $774.0M of cash and equivalents.
Open the full interactive McDonald's financials → Quarterly statements, key ratios, valuation history and price charts.
McDonald's Key Stats
| Share Price | $235.81 |
|---|---|
| Market Cap | $167.68B |
| P/E Ratio | 19.7 |
| Revenue YoY Growth | +3.7% |
| 52-Week Range | $230.88 – $334.50 |
| Shares Outstanding | 709.1 million (basic, 2026 Q2) |
McDonald's Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $19.21B | $23.22B | $23.18B | $25.49B | $25.92B | $26.89B |
| Cost of Goods Sold | $11.88B | $12.87B | $13.81B | $13.85B | $14.21B | $14.49B |
| Gross Profit | $7.32B | $10.36B | $9.37B | $11.65B | $11.71B | $12.39B |
| Operating Income | $7.32B | $10.36B | $9.37B | $11.65B | $11.71B | $12.39B |
| Pre-Tax Income | $6.14B | $9.13B | $7.83B | $10.52B | $10.34B | $10.90B |
| Income Tax | $1.41B | $1.58B | $1.65B | $2.05B | $2.12B | $2.33B |
| Net Income | $4.73B | $7.55B | $6.18B | $8.47B | $8.22B | $8.56B |
| Diluted EPS | $6.31 | $10.04 | $8.33 | $11.56 | $11.39 | $11.95 |
McDonald's Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $7.08B | $7.01B | $6.52B | $7.10B |
| Net Income | $2.28B | $2.16B | $1.98B | $2.36B |
| Diluted EPS | $3.18 | $3.02 | $2.78 | $3.32 |
McDonald's Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.45B | $4.71B | $2.58B | $4.58B | $1.08B | $774.0M |
| Current Assets | $6.24B | $7.15B | $5.42B | $7.99B | $4.60B | $4.16B |
| Total Assets | $52.63B | $53.85B | $50.44B | $56.15B | $55.18B | $59.52B |
| Current Liabilities | $6.18B | $4.02B | $3.80B | $6.86B | $3.86B | $4.36B |
| Total Long-Term Debt | $37.44B | $35.62B | $35.90B | $39.35B | $38.42B | $40.70B |
| Total Liabilities | $60.45B | $58.46B | $56.44B | $60.85B | $58.98B | $61.31B |
| Shareholders' Equity | -$7.82B | -$4.60B | -$6.00B | -$4.71B | -$3.80B | -$1.79B |
McDonald's Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $6.27B | $9.14B | $7.39B | $9.61B | $9.45B | $10.55B |
| Cash From Investing | -$1.55B | -$2.17B | -$2.68B | -$3.18B | -$5.35B | -$3.82B |
| Cash From Financing | -$2.25B | -$5.60B | -$6.58B | -$4.37B | -$7.50B | -$7.12B |
| Free Cash Flow | $4.62B | $7.10B | $5.49B | $7.25B | $6.67B | $7.19B |
Figures from McDonald's' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full McDonald's financials page for every line item.
McDonald's Company Profile
| Ticker | MCD |
|---|---|
| Exchange | NYSE |
| Industry | Eating Places (Retail) |
| Headquarters | Chicago, Illinois |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000063908 |
Frequently Asked Questions
What was McDonald's' revenue in fiscal 2025?
McDonald's (MCD) reported revenue of $26.89B for fiscal 2025.
What is McDonald's' annual revenue history?
McDonald's' annual revenue by fiscal year: 2020: $19.21B; 2021: $23.22B; 2022: $23.18B; 2023: $25.49B; 2024: $25.92B; 2025: $26.89B.
What was McDonald's' net income in fiscal 2025?
McDonald's reported net income of $8.56B for fiscal 2025.
What was McDonald's' earnings per share (EPS) in fiscal 2025?
McDonald's' diluted EPS was $11.95 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did McDonald's generate in fiscal 2025?
McDonald's generated $7.19B of free cash flow in fiscal 2025.
What was McDonald's' revenue last quarter?
In its most recent reported quarter (2026 Q2), McDonald's reported revenue of $7.10B.
How much debt does McDonald's have?
McDonald's reported $40.70B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of McDonald's are outstanding?
McDonald's reported a weighted average of 709.1 million basic shares outstanding in 2026 Q2.
What is McDonald's' market cap?
Based on its latest closing price, McDonald's (MCD) has a market capitalization of about $167.68B.
When does McDonald's' fiscal year end?
McDonald's' fiscal year end, as registered with the SEC, is December 31.
Where is McDonald's headquartered?
McDonald's lists its business address in Chicago, Illinois in its SEC filings.