McDonald's

Consumer Discretionary Restaurants Chicago, Illinois Last filing Feb 24, 2026 · FY2025

                    Revenue
                    FY2025
                
$26.9B
                    3y CAGR +5.1%
                    
                    P49
                    
                    +3.7%
                    
                    Net income
                    FY2025
                
$8.6B
                    Net margin +31.9%
                    
                    P100
                    
                    +4.1%
                    
                    Total assets
                    FY2025
                
$59.5B
                    ROA +14.4%
                    
                    P72
                    
                    +7.9%
                    
                    Operating cash flow
                    FY2025
                
$10.6B
                    FCF margin +26.7%
                    
                    P98
                    
                    +11.7%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

29 accounts · 5 years

Total assets $59.5B

Total liabilities $4.4B

Shareholders equity $-1.8B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	$774.0M -28.7%	$1.1B -76.3%	$4.6B 77.2%	$2.6B -45.1%	$4.7B
Accounts Receivable	$2.5B 3.5%	$2.4B -4.2%	$2.5B 17.6%	$2.1B 13.0%	$1.9B
Inventory	$61.0M 8.9%	$56.0M 6.1%	$52.8M 1.5%	$52.0M -6.5%	$55.6M
Prepaid Expenses	$863.0M -19.6%	$1.1B 24.0%	$866.3M 28.6%	$673.4M 31.7%	$511.3M
Other Current Assets	$863.0M -19.6%	$1.1B 24.0%	$866.3M 28.6%	$673.4M 31.7%	$511.3M
Total Current Assets	$4.2B -9.5%	$4.6B -42.4%	$8.0B 47.2%	$5.4B -24.1%	$7.1B
Property,Plant and Equipment	$28.2B 11.6%	$25.3B 1.6%	$24.9B 4.8%	$23.8B -3.8%	$24.7B
Goodwill	$3.4B 6.6%	$3.1B 3.4%	$3.0B 4.8%	$2.9B 4.2%	$2.8B
Deferred Tax Assets	$1.0B -86.9%	$8.0B -1.0%	$8.0B 11.6%	$7.2B -6.0%	$7.7B
Other Noncurrent Assets	$6.3B 3.9%	$6.1B 8.5%	$5.6B 19.3%	$4.7B 5.8%	$4.4B
Total Assets	$59.5B 7.9%	$55.2B -1.7%	$56.1B 11.3%	$50.4B -6.3%	$53.9B
Liabilities
Accounts Payable	$1.1B 11.7%	$1.0B -6.7%	$1.1B 12.5%	$980.2M -2.6%	$1.0B
Accrued Liabilities	$533.0M 10.6%	$482.0M 2.8%	$468.9M 19.2%	$393.4M 8.3%	$363.3M
Deferred Revenue	$945.0M 21.5%	$778.0M -1.5%	$790.1M 4.3%	$757.8M 2.6%	$738.3M
Other Current Liabilities	$704.0M -8.7%	$771.0M -18.8%	$949.7M -9.7%	$1.1B -2.7%	$1.1B
Total Current Liabilities	$4.4B 13.0%	$3.9B -43.7%	$6.9B 80.4%	$3.8B -5.4%	$4.0B
Long Term Debt	$40.0B 4.0%	$38.4B 3.4%	$37.2B 3.5%	$35.9B 0.8%	$35.6B
Deferred Revenue Noncurrent	$945.0M 21.5%	$778.0M -1.5%	$790.1M 4.3%	$757.8M 2.6%	$738.3M
Deferred Tax Liabilities	$1.0B -45.8%	$1.9B 13.9%	$1.7B -15.8%	$2.0B -3.8%	$2.1B
Other Noncurrent Liabilities	$704.0M -8.7%	$771.0M -18.8%	$949.7M -9.7%	$1.1B -2.7%	$1.1B
Total Liabilities	$4.4B 13.0%	$3.9B -43.7%	$6.9B 80.4%	$3.8B -5.4%	$4.0B
Equity
Preferred Stock	$0	$0	$0	$0	$0
Common Stock	$17.0M 0.0%	$17.0M 2.4%	$16.6M 0.0%	$16.6M 0.0%	$16.6M
Additional Paid In Capital	$9.6B 3.9%	$9.3B 4.4%	$8.9B 4.0%	$8.5B 3.8%	$8.2B
Retained Earnings	$70.3B 5.2%	$66.8B 5.3%	$63.5B 6.6%	$59.5B 3.5%	$57.5B
Treasury Stock	$79.3B 2.5%	$77.4B 3.7%	$74.6B 4.2%	$71.6B 5.6%	$67.8B
Accumulated Other Comprehensive Income	$-2.4B 5.4%	$-2.6B -3.9%	$-2.5B 1.2%	$-2.5B 3.4%	$-2.6B
Total Stockholders Equity	$-1.8B 52.8%	$-3.8B 19.3%	$-4.7B 21.6%	$-6.0B -30.5%	$-4.6B
Total Liabilitiesand Equity	$59.5B 7.9%	$55.2B -1.7%	$56.1B 11.3%	$50.4B -6.3%	$53.9B

Income Statement

Revenue, expense, and profitability

18 accounts · 5 years

Revenue $26.9B

Operating income $12.4B

Net income $8.6B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	$26.9B 3.7%	$25.9B 1.7%	$25.5B 10.0%	$23.2B -0.2%	$23.2B
Expenses Cost of Revenue	$14.5B 2.0%	$14.2B 2.6%	$13.8B 0.3%	$13.8B 7.3%	$12.9B
Expenses Selling,General and Administrative	$3.0B 6.3%	$2.9B 1.5%	$2.8B -1.6%	$2.9B	—
Expenses Depreciation and Amortization	$457.0M 2.2%	$447.0M 17.0%	$382.0M 3.2%	$370.0M 12.2%	$329.7M
Expenses Share Based Compensation	$165.0M -4.1%	$172.0M -1.7%	$175.0M 4.8%	$167.0M 20.0%	$139.2M
Expenses Restructuring and Asset Impairment	$229.0M 3.6%	$221.0M -23.8%	$290.0M -71.3%	$1.0B 453.9%	$-285.4M
Expenses Operating Expenses	$14.5B 2.0%	$14.2B 2.6%	$13.8B 0.3%	$13.8B 7.3%	$12.9B
Other Income Expense Operating Income	$12.4B 5.8%	$11.7B 0.6%	$11.6B 24.3%	$9.4B -9.5%	$10.4B
Other Income Expense Interest Expense	$1.6B 5.0%	$1.5B 10.7%	$1.4B 12.8%	$1.2B 1.8%	$1.2B
Other Income Expense Other Income/expense	$87.0M -37.4%	$139.0M -41.1%	$236.0M 169.6%	$-339.0M -701.4%	$-42.3M
Other Income Expense Income Before Tax	$3.3B 0.3%	$3.3B -10.5%	$3.7B 98.5%	$1.8B -23.5%	$2.4B
Income Tax Income Tax Expense	$2.3B 10.0%	$2.1B 3.3%	$2.1B 24.6%	$1.6B 4.1%	$1.6B
net Income net Income	$8.6B 4.1%	$8.2B -2.9%	$8.5B 37.1%	$6.2B -18.1%	$7.5B
net Income Comprehensive Income	$8.7B 7.1%	$8.1B -4.4%	$8.5B 35.7%	$6.3B -17.1%	$7.6B
Earnings Per Share Basic Eps	$12 4.8%	$11 -1.5%	$12 38.6%	$8 -17.0%	$10
Earnings Per Share Diluted Eps	$12 4.9%	$11 -1.5%	$12 38.8%	$8 -17.0%	$10
Earnings Per Share Weighted Average Shares Basic	$713 -0.7%	$718 -1.3%	$728 -1.2%	$736 -1.3%	$746
Earnings Per Share Weighted Average Shares Diluted	$716 -0.8%	$722 -1.4%	$732 -1.2%	$741 -1.4%	$752

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 5 years

Operating cash flow $10.6B

Investing cash flow $-3.8B

Financing cash flow $-7.1B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	$8.6B 4.1%	$8.2B -2.9%	$8.5B 37.1%	$6.2B -18.1%	$7.5B
Operating Activities Depreciation and Amortization	$457.0M 2.2%	$447.0M 17.0%	$382.0M 3.2%	$370.0M 12.2%	$329.7M
Operating Activities Stock Based Compensation	$165.0M -4.1%	$172.0M -1.7%	$175.0M 4.8%	$167.0M 20.0%	$139.2M
Operating Activities Deferred Income Taxes	$-126.0M 78.0%	$-574.0M 16.3%	$-686.0M -98.3%	$-346.0M 19.2%	$-428.3M
Operating Activities Changes In Operating Assets and Liabilities	$100.0M -52.8%	$212.0M -78.8%	$1.0B 3125.8%	$31.0M -86.2%	$225.0M
Operating Activities net Cash From Operating Activities	$10.6B 11.7%	$9.4B -1.7%	$9.6B 30.1%	$7.4B -19.2%	$9.1B
Investing Activities Capital Expenditures	$3.4B 21.3%	$2.8B 17.7%	$2.4B 24.1%	$1.9B -6.9%	$2.0B
Investing Activities Other Investing Activities	$579.0M 16.3%	$498.0M -26.3%	$676.0M 47.9%	$457.0M 747.9%	$53.9M
Investing Activities net Cash From Investing Activities	$-3.8B 28.5%	$-5.3B -67.8%	$-3.2B -18.9%	$-2.7B -23.7%	$-2.2B
Financing Activities Proceeds From Debt	$4.7B 98.5%	$2.4B -54.4%	$5.2B 54.7%	$3.4B 192.3%	$1.2B
Financing Activities Repayment of Debt	$4.8B 72.9%	$2.8B 13.8%	$2.4B 10.9%	$2.2B -1.7%	$2.2B
Financing Activities Repurchase of Common Stock	$2.1B -27.2%	$2.8B -7.5%	$3.1B -21.6%	$3.9B 360.8%	$845.5M
Financing Activities Dividends Paid	$5.1B 5.0%	$4.9B 7.4%	$4.5B 8.8%	$4.2B 6.4%	$3.9B
Financing Activities Proceeds From Stock Issuance	$285.0M -13.1%	$328.0M 26.2%	$260.0M 4.8%	$248.0M -13.2%	$285.7M
Financing Activities Other Financing Activities	$-167.0M -198.2%	$-56.0M -40.0%	$-40.0M -205.3%	$38.0M 181.4%	$-46.7M
Financing Activities net Cash From Financing Activities	$-7.1B 4.9%	$-7.5B -71.4%	$-4.4B 33.5%	$-6.6B -17.6%	$-5.6B
Cash Reconciliation Effect of Exchange Rate On Cash	$86.0M 185.1%	$-101.0M -74.1%	$-58.0M 77.2%	$-254.0M -111.5%	$-120.1M
Cash Reconciliation net Change In Cash	$-311.0M 91.1%	$-3.5B -275.1%	$2.0B 193.9%	$-2.1B -268.7%	$1.3B
Cash Reconciliation Cash At Beginning of Period	$774.0M -28.7%	$1.1B -76.3%	$4.6B 77.2%	$2.6B -45.1%	$4.7B
Cash Reconciliation Cash At End of Period	$774.0M -28.7%	$1.1B -76.3%	$4.6B 77.2%	$2.6B -45.1%	$4.7B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+46.1%	+45.2%	+45.7%	+40.4%	+44.6%
Operating margin	+46.1%	+45.2%	+45.7%	+40.4%	+44.6%
Net margin	+31.9%	+31.7%	+33.2%	+26.6%	+32.5%
FCF margin	+26.7%	+25.7%	+28.5%	+23.7%	+30.6%
Growth
Revenue CAGR (3y)	+5.1%	+3.7%	+9.9%	+2.8%	+3.0%
Returns
ROE	-478.1%	-216.6%	-179.9%	-102.9%	-164.0%
ROA	+14.4%	+14.9%	+15.1%	+12.2%	+14.0%
ROIC	+9.6%	+12.1%	+17.0%	+3.7%	+13.6%
Liquidity
Current ratio	0.95x	1.19x	1.16x	1.43x	1.78x
Quick ratio	0.74x	0.90x	1.03x	1.24x	1.64x
Leverage
D/E	-2.43x	-1.02x	-1.46x	-0.63x	-0.87x
Interest coverage	7.83x	7.78x	8.56x	7.76x	8.73x
Efficiency
Asset turnover	0.45x	0.47x	0.45x	0.46x	0.43x
Cash conversion cycle	+6d	+9d	+8d	+9d	+2d

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FY2025 fundamentals · no price

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McDonald's

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