McDonald's (MCD) Financial Statements & Analysis

McDonald's (MCD) Income Statement

McDonald's reported revenue of $26.89B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 3.7% from $25.92B a year earlier. Net income was $8.56B, up 4.1% year over year, a net margin of 31.9%. Gross margin was 57.4% and operating margin 46.1%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $7.10B, up 3.8% from the same quarter a year earlier.

McDonald's Income Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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McDonald's Corporation income statement - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	26.89	25.92	25.49	23.18	23.22	19.21	21.36	21.26	22.82
Cost of Revenue	11.45	11.21	10.93	9.98	10.64	9.46	10.19	10.43	12.20
Gross Profit	15.43	14.71	14.56	13.21	12.58	9.75	11.18	10.83	10.62
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	2.58	2.41	2.44	2.49	2.38	2.25	1.97	1.99	2.23
Operating Expenses	3.04	2.86	2.92	2.86	2.22	2.43	2.11	2.01	1.07
Operating Income	12.39	11.85	11.65	10.35	10.36	7.32	9.07	8.82	9.55
Other Income/Expense
Interest Income	0.08	0.10	0.19	0.04	0.01	0.02	0.04	0.00	0.01
Interest Expense	-1.58	1.51	-1.36	1.21	-1.19	1.22	1.12	0.98	0.92
Other Income/Expense	-1.50	-0.10	-1.13	-1.36	-1.23	-1.18	-1.05	-1.01	-0.98
Income
Income Before Tax	10.90	10.35	10.52	7.83	9.13	6.14	8.02	7.82	8.57
Income Tax Expense	2.33	2.12	2.05	1.65	1.58	1.41	1.99	1.89	3.38
Net Income	8.56	8.22	8.47	6.18	7.55	4.73	6.03	5.92	5.19
Net Income - Continuous Operations	8.56	8.22	8.47	6.18	7.55	4.73	6.03	5.92	5.19
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	14.59	13.95	13.72	10.90	12.03	9.11	10.76	10.28	10.86
EBIT	12.40	11.85	11.75	9.03	10.16	-	-	-	-
Depreciation & Amortization	2.16	0.45	1.98	0.37	1.87	1.75	1.62	1.48	1.36
Earnings Per Share
Basic EPS	12.00	11.00	12.00	8.00	10.00	6.00	8.00	8.00	6.00
Diluted EPS	12.00	11.00	12.00	8.00	10.00	6.00	8.00	8.00	6.00
Basic Shares Outstanding	0.71	0.72	0.73	0.73	0.75	0.74	0.76	0.78	0.81
Diluted Shares Outstanding	0.72	0.72	0.73	0.74	0.75	0.75	0.76	0.79	0.82

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About McDonald's Financial Statements

What was McDonald's's revenue in fiscal 2025?

McDonald's reported revenue of $26.89B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 3.7% from $25.92B a year earlier.

Is McDonald's profitable?

Yes. McDonald's earned net income of $8.56B in fiscal 2025, a net margin of 31.9%. In fiscal 2024 it earned $8.22B.

What is McDonald's's operating margin?

McDonald's's operating income was $12.39B on revenue of $26.89B in fiscal 2025, an operating margin of 46.1%, compared with 45.7% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition