McDonald's Corporation (MCD)

McDonald's Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	25,661	25,497	25,179	22,854	22,873	18,865
Other Revenue	603	423	315	329	350.1	342.5
Revenue	26,264	25,920	25,494	23,183	23,223	19,208
Revenue Growth (YoY)	1.25%	1.67%	9.97%	-0.17%	20.90%	-10.09%
Cost of Revenue	11,182	11,210	10,931	9,975	10,643	9,456
Gross Profit	15,082	14,710	14,563	13,208	12,580	9,752
Selling, General & Admin	2,498	2,412	2,435	2,492	2,378	2,245
Other Operating Expenses	-1	-1	-	-19	-285.4	-267.5
Operating Expenses	2,966	2,858	2,817	2,843	2,422	2,278
Operating Income	12,116	11,852	11,746	10,365	10,158	7,474
Interest Expense	-1,552	-1,506	-1,361	-1,207	-1,186	-1,218
Interest & Investment Income	81	103	187	44	9	18
Earnings From Equity Investments	194	157	153	113	176.7	117.4
Currency Exchange Gain (Loss)	-15	-6	19	134	-37	3
Other Non Operating Income (Expenses)	56	41	30	-518	-14.3	13.8
EBT Excluding Unusual Items	10,880	10,641	10,774	8,931	9,107	6,408
Merger & Restructuring Charges	-85	-221	-290	-	-	-
Gain (Loss) on Sale of Assets	-52	-6	110	-1,106	21.2	-267.4
Asset Writedown	3	-	-72	-	-	-
Other Unusual Items	-70	-70	-	-	-	-
Pretax Income	10,676	10,344	10,522	7,825	9,128	6,141
Income Tax Expense	2,261	2,121	2,053	1,648	1,583	1,410
Net Income	8,415	8,223	8,469	6,177	7,545	4,731
Net Income to Common	8,415	8,223	8,469	6,177	7,545	4,731
Net Income Growth	2.05%	-2.90%	37.10%	-18.13%	59.50%	-21.49%
Shares Outstanding (Basic)	715	718	728	737	746	745
Shares Outstanding (Diluted)	718	722	732	741	752	750
Shares Change (YoY)	-0.86%	-1.42%	-1.21%	-1.40%	0.23%	-1.93%
EPS (Basic)	11.78	11.45	11.63	8.39	10.11	6.35
EPS (Diluted)	11.72	11.39	11.56	8.33	10.04	6.31
EPS Growth	2.90%	-1.47%	38.78%	-17.03%	59.11%	-19.92%
Free Cash Flow	7,372	6,672	7,255	5,488	7,102	4,624
Free Cash Flow Per Share	10.27	9.24	9.91	7.40	9.45	6.17
Dividend Per Share	7.080	6.780	6.230	5.660	5.250	5.040
Dividend Growth	5.99%	8.83%	10.07%	7.81%	4.17%	6.55%
Gross Margin	57.43%	56.75%	57.12%	56.97%	54.17%	50.77%
Operating Margin	46.13%	45.73%	46.07%	44.71%	43.74%	38.91%
Profit Margin	32.04%	31.72%	33.22%	26.65%	32.49%	24.63%
Free Cash Flow Margin	28.07%	25.74%	28.46%	23.67%	30.58%	24.08%
EBITDA	14,292	13,949	13,724	12,236	12,026	9,225
EBITDA Margin	54.42%	53.82%	53.83%	52.78%	51.79%	48.03%
D&A For EBITDA	2,176	2,097	1,978	1,871	1,868	1,751
EBIT	12,116	11,852	11,746	10,365	10,158	7,474
EBIT Margin	46.13%	45.73%	46.07%	44.71%	43.74%	38.91%
Effective Tax Rate	21.18%	20.51%	19.51%	21.06%	17.34%	22.96%
Revenue as Reported	26,264	25,920	25,494	23,183	23,223	19,208
Advertising Expenses	-	355	347	335	377.6	325.5

Updated Nov 5, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q