McDonald's Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	26,238	25,497	25,179	22,854	22,873
Other Revenue	647	423	315	329	350.1
Revenue	26,885	25,920	25,494	23,183	23,223
Revenue Growth (YoY)	3.72%	1.67%	9.97%	-0.17%	20.90%
Cost of Revenue	11,450	11,210	10,931	9,975	10,643
Gross Profit	15,435	14,710	14,563	13,208	12,580
Selling, General & Admin	2,583	2,412	2,435	2,492	2,378
Other Operating Expenses	-1	-1	-	-19	-285.4
Operating Expenses	3,039	2,858	2,817	2,843	2,422
Operating Income	12,396	11,852	11,746	10,365	10,158
Interest Expense	-1,582	-1,506	-1,361	-1,207	-1,186
Interest & Investment Income	82	103	187	44	9
Earnings From Equity Investments	190	157	153	113	176.7
Currency Exchange Gain (Loss)	-40	-6	19	134	-37
Other Non Operating Income (Expenses)	44	41	30	-518	-14.3
EBT Excluding Unusual Items	11,090	10,641	10,774	8,931	9,107
Merger & Restructuring Charges	-229	-221	-290	-	-
Gain (Loss) on Sale of Assets	36	-6	110	-1,106	21.2
Asset Writedown	-	-	-72	-	-
Other Unusual Items	-	-70	-	-	-
Pretax Income	10,897	10,344	10,522	7,825	9,128
Income Tax Expense	2,334	2,121	2,053	1,648	1,583
Net Income	8,563	8,223	8,469	6,177	7,545
Net Income to Common	8,563	8,223	8,469	6,177	7,545
Net Income Growth	4.13%	-2.90%	37.10%	-18.13%	59.50%
Shares Outstanding (Basic)	716	718	728	737	746
Shares Outstanding (Diluted)	716	722	732	741	752
Shares Change (YoY)	-0.76%	-1.42%	-1.21%	-1.40%	0.23%
EPS (Basic)	11.95	11.45	11.63	8.39	10.11
EPS (Diluted)	11.95	11.39	11.56	8.33	10.04
EPS Growth	4.92%	-1.47%	38.78%	-17.03%	59.11%
Free Cash Flow	7,186	6,672	7,255	5,488	7,102
Free Cash Flow Per Share	10.03	9.24	9.91	7.40	9.45
Dividend Per Share	7.170	6.780	6.230	5.660	5.250
Dividend Growth	5.75%	8.83%	10.07%	7.81%	4.17%
Gross Margin	57.41%	56.75%	57.12%	56.97%	54.17%
Operating Margin	46.11%	45.73%	46.07%	44.71%	43.74%
Profit Margin	31.85%	31.72%	33.22%	26.65%	32.49%
Free Cash Flow Margin	26.73%	25.74%	28.46%	23.67%	30.58%
EBITDA	14,553	13,949	13,724	12,236	12,026
EBITDA Margin	54.13%	53.82%	53.83%	52.78%	51.79%
D&A For EBITDA	2,157	2,097	1,978	1,871	1,868
EBIT	12,396	11,852	11,746	10,365	10,158
EBIT Margin	46.11%	45.73%	46.07%	44.71%	43.74%
Effective Tax Rate	21.42%	20.51%	19.51%	21.06%	17.34%
Revenue as Reported	26,885	25,920	25,494	23,183	23,223
Advertising Expenses	-	355	347	335	377.6

Updated Feb 11, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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