McDonald's financials
$230.94−1.30%
Close Sep 30, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $26.89B | $25.92B | $25.50B | $23.18B | $23.22B | $19.21B | $21.36B | $21.26B | $22.82B | $24.62B |
| Gross profit | $21.26B | $20.39B | $19.98B | $16.07B | $15.52B | $10.02B | $11.40B | $11.02B | $10.62B | $10.20B |
| Gross margin | 79.1% | 78.7% | 78.4% | 69.3% | 66.8% | 52.2% | 53.4% | 51.8% | 46.5% | 41.4% |
| Operating income | $12.39B | $11.71B | $11.65B | $9.37B | $10.36B | $7.32B | $9.07B | $8.82B | $9.55B | $7.74B |
| Net income | $8.56B | $8.22B | $8.47B | $6.18B | $7.55B | $4.73B | $6.03B | $5.92B | $5.19B | $4.69B |
| Net margin | 31.9% | 31.7% | 33.2% | 26.6% | 32.5% | 24.6% | 28.2% | 27.9% | 22.8% | 19.0% |
| Diluted EPS | $11.95 | $11.39 | $11.56 | $8.33 | $10.04 | $6.31 | $7.88 | $7.54 | $6.37 | $5.44 |
| EBITDA | $14.59B | $13.81B | $13.63B | $11.24B | $12.22B | $9.08B | $10.69B | $10.30B | $10.92B | $9.26B |
| Operating cash flow | $10.55B | $9.45B | $9.61B | $7.39B | $9.14B | $6.27B | $8.12B | $6.97B | $5.55B | $6.06B |
| Free cash flow | $6.83B | $6.00B | $6.81B | $4.68B | $6.73B | $4.56B | $5.19B | $4.12B | $3.62B | $4.13B |
| Diluted shares | 716.4M | 721.9M | 732.3M | 741.3M | 751.8M | 750.1M | 764.9M | 785.6M | 815.5M | 861.2M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $774.0M | $1.08B | $4.58B | $2.58B | $4.71B | $3.45B |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| Total debt | $40.51B | $51.79B | $39.81B | $36.30B | $35.99B | $37.83B |
| Total assets | $59.52B | $55.18B | $56.15B | $50.44B | $53.85B | $52.63B |
| Total liabilities | $61.31B | $58.98B | $60.85B | $56.44B | $58.46B | $60.45B |
| Shareholders' equity | -$1.79B | -$3.80B | -$4.71B | -$6.00B | -$4.60B | -$7.82B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology