McDonald's (MCD) financial statements
+18.0%since 2007
- FY2025 revenue
- $26.9B▲ +3.7%
- FY2025 net income
- $8.6B▲ +4.1%
- FY2025 diluted EPS
- $11.95▲ +4.9%
- FY2025 free cash flow
- $7.2B▲ +7.7%
McDonald's income statement
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Revenue | 26,885 | 25,920 | 25,494 |
| Operating income | 12,393 | 11,712 | 11,647 |
| Net income | 8,563 | 8,223 | 8,469 |
| Diluted earnings per share | 11.95 | 11.39 | 11.56 |
McDonald's balance sheet
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Cash and cash equivalents | 774 | 1,085 | 4,579 |
| Total assets | 59,515 | 55,182 | 56,147 |
| Total liabilities (derived) | 61,306 | 58,979 | 60,854 |
| Total equity | -1,791 | -3,797 | -4,707 |
| Long-term debt | 39,973 | 38,424 | 37,153 |
McDonald's cash flow statement
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Operating cash flow | 10,551 | 9,447 | 9,612 |
| Capital expenditure | -3,365 | -2,775 | -2,357 |
| Free cash flow (derived) | 7,186 | 6,672 | 7,255 |
| Dividends paid | -5,115 | -4,870 | -4,533 |
| Share repurchases | -2,056 | -2,824 | -3,054 |
Quarterly highlights
| USD millions | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 |
|---|---|---|---|---|
| Period ended | 30 Sep 2026 | 30 Jun 2026 | 31 Mar 2026 | 31 Dec 2025 |
| Revenue (derived) | 7,157 | 7,099 | 6,517 | 7,009 |
| Operating income (derived) | 3,595 | 3,338 | 2,953 | 3,156 |
| Net income (derived) | 2,486 | 2,362 | 1,983 | 2,164 |
| Diluted earnings per share | 3.51 | 3.32 | 2.78 | n/a |
| Operating cash flow (derived) | 3,031 | 2,807 | 2,412 | 2,697 |
| Total assets | 60,657 | 59,920 | 60,037 | 59,515 |
McDonald's major shareholders
| Holder | Share of class | Shares | Filed |
|---|---|---|---|
| Vanguard Capital Management | 7.5% | 53,486,415 | 30 April 2026 |
| JPMORGAN CHASE & CO | 5.1% | 36,914,418 | 13 May 2026 |
| STATE STREET CORPORATION | 5.1% | 36,120,258 | 7 August 2026 |
McDonald's 10-K and SEC filings
| Filed | Form | Type | Description |
|---|---|---|---|
| 6 November 2026 | 10-Q | Quarterly report | Quarterly report |
| 4 November 2026 | 8-K | Current report | Current report |
| 23 September 2026 | 8-K | Current report | Current report |
| 7 August 2026 | 10-Q | Quarterly report | Quarterly report |
| 4 August 2026 | 8-K | Current report | Current report |
| 4 August 2026 | 8-K | Current report | Current report |
| 22 May 2026 | 8-K | Current report | Current report |
| 7 May 2026 | 10-Q | Quarterly report | Quarterly report |
Common questions
What was McDonald's's revenue in fiscal 2025?
McDonald's reported $26.9 billion in revenue for fiscal 2025, the year ended 31 December 2025, up 3.7% from fiscal 2024.
What was McDonald's's net income in fiscal 2025?
McDonald's reported net income of $8.6 billion for fiscal 2025, the year ended 31 December 2025, up 4.1% from fiscal 2024. Diluted earnings per share were $11.95.
What was McDonald's's free cash flow in fiscal 2025?
McDonald's had $7.2 billion in free cash flow in fiscal 2025. Operating cash flow was $10.6 billion and capital expenditure was $3.4 billion.
What were McDonald's's total assets at the end of fiscal 2025?
McDonald's reported total assets of $59.5 billion at the end of fiscal 2025, the year ended 31 December 2025.
How much McDonald's history do I get?
Every account gets the full history, annual and quarterly, with first reported values and as of dates.
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