McDonald's Corporation (MCD)
NYSE: MCD · Real-Time Price · USD
323.21
-2.76 (-0.85%)
At close: Feb 11, 2026, 4:00 PM EST
322.80
-0.41 (-0.13%)
After-hours: Feb 11, 2026, 7:58 PM EST
McDonald's Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Quarter | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 | Jun '21 Jun 30, 2021 | Mar '21 Mar 31, 2021 |
Net Income | 8,563 | 8,415 | 8,393 | 8,162 | 8,223 | 8,246 | 8,307 | 8,596 | 8,469 | 8,333 | 7,998 | 6,875 | 6,177 | 5,913 | 6,081 | 7,112 | 7,545 | 7,284 | 6,896 | 5,161 |
Depreciation & Amortization | - | 2,176 | 2,149 | 2,107 | 2,097 | 2,041 | 2,007 | 1,998 | 1,978 | 1,944 | 1,912 | 1,881 | 1,871 | 1,889 | 1,893 | 1,894 | 1,868 | 1,851 | 1,822 | 1,784 |
Loss (Gain) From Sale of Assets | - | -37 | -37 | -37 | -37 | -103 | -103 | -103 | -103 | 732.7 | 732.7 | 732.7 | 733 | -97.8 | -97.8 | -97.8 | -97.8 | -28.2 | -28.2 | -28.2 |
Stock-Based Compensation | - | 172 | 173 | 167 | 172 | 165 | 168 | 175 | 175 | 173.8 | 169.1 | 162.4 | 167 | 172.2 | 168 | 166.2 | 139.2 | 126.3 | 99.5 | 93.8 |
Other Operating Activities | 1,882 | -267 | -419 | -517 | -570 | -750 | -862 | -851 | -799 | -1,392 | -1,352 | -1,055 | -916 | -108.9 | -76.4 | -614.4 | -767.4 | -1,021 | -906 | -388.8 |
Change in Accounts Receivable | - | 10 | 10 | 10 | 10 | -161 | -161 | -161 | -161 | -264.1 | -264.1 | -264.1 | -264 | 309.9 | 309.9 | 309.9 | 309.9 | -6.8 | -6.8 | -6.8 |
Change in Inventory | - | 71 | 71 | 71 | 71 | 17 | 17 | 17 | 17 | 5.6 | 5.6 | 5.6 | 6 | -62.2 | -62.2 | -62.2 | -62.2 | -68.6 | -68.6 | -68.6 |
Change in Accounts Payable | - | -10 | -10 | -10 | -10 | 50 | 50 | 50 | 50 | 31.3 | 31.3 | 31.3 | 31 | 225 | 225 | 225 | 225 | -137.5 | -137.5 | -137.5 |
Change in Income Taxes | - | -292 | -292 | -292 | -292 | -220 | -220 | -220 | -220 | -546.7 | -546.7 | -546.7 | -547 | -302.5 | -302.5 | -302.5 | -302.5 | -43.6 | -43.6 | -43.6 |
Change in Other Net Operating Assets | 106 | 247 | -244 | -176 | -217 | 20 | 394 | 81 | 206 | 305.9 | 43.2 | -149.1 | 129 | -85.8 | -102.1 | 520.3 | 284 | 512.4 | 1,163 | 478.1 |
Operating Cash Flow | 10,551 | 10,485 | 9,794 | 9,485 | 9,447 | 9,305 | 9,597 | 9,582 | 9,612 | 9,324 | 8,729 | 7,673 | 7,387 | 7,852 | 8,036 | 9,151 | 9,142 | 8,468 | 8,790 | 6,843 |
Operating Cash Flow Growth | 11.69% | 12.68% | 2.05% | -1.01% | -1.72% | -0.21% | 9.94% | 24.87% | 30.12% | 18.75% | 8.63% | -16.14% | -19.19% | -7.27% | -8.58% | 33.72% | 45.91% | 37.43% | 59.55% | -10.52% |
Capital Expenditures | -3,365 | -3,113 | -2,896 | -2,779 | -2,775 | -2,725 | -2,501 | -2,401 | -2,357 | -2,129 | -2,090 | -2,001 | -1,899 | -2,058 | -2,028 | -2,073 | -2,040 | -1,816 | -1,705 | -1,527 |
Sale of Property, Plant & Equipment | - | 128 | 116 | 119 | 122 | 92 | 95 | 85 | 95 | 51.6 | 49.7 | 52 | 39 | 30.6 | 60.8 | 78.3 | 106.2 | 107.5 | 66.4 | 44.4 |
Cash Acquisitions | 122 | -314 | -638 | -692 | -669 | -732 | -391 | -395 | -441 | -761.5 | -821.8 | -818.3 | -807 | -607 | -483.3 | -422.2 | -374.2 | -132.8 | -110.9 | -85.2 |
Divestitures | - | 340 | 292 | 318 | 311 | 255 | 217 | 216 | 195 | 140.6 | 157.7 | 450.4 | 446 | 455.6 | 482.6 | 183.1 | 196.2 | 182.7 | 130.6 | 80.2 |
Investment in Securities | - | - | - | -17 | -1,837 | -1,837 | -1,837 | -1,820 | - | - | - | - | - | - | - | - | - | - | - | - |
Other Investing Activities | -579 | -536 | -523 | -573 | -498 | -497 | -694 | -622 | -677 | -718.1 | -511.9 | -547.7 | -457 | -551.2 | -413.6 | -242.3 | -53.9 | 252.6 | 329.6 | 215.6 |
Investing Cash Flow | -3,822 | -3,495 | -3,649 | -3,624 | -5,346 | -5,444 | -5,111 | -4,937 | -3,185 | -3,416 | -3,216 | -2,865 | -2,678 | -2,730 | -2,381 | -2,476 | -2,166 | -1,406 | -1,289 | -1,272 |
Short-Term Debt Issued | - | - | - | - | 326 | - | - | - | 213 | - | - | - | 26 | - | - | - | 15.1 | - | - | - |
Long-Term Debt Issued | - | - | - | - | 2,380 | - | - | - | 5,221 | - | - | - | 3,374 | - | - | - | 1,154 | - | - | - |
Total Debt Issued | - | 5,576 | 3,876 | 4,204 | 2,706 | 4,248 | 6,111 | 4,367 | 5,434 | 3,065 | 2,263 | 4,461 | 3,400 | 4,547 | 3,352 | 1,169 | 1,170 | 7.6 | -97 | -101.7 |
Long-Term Debt Repaid | -73 | - | - | - | -2,777 | - | - | - | -2,441 | - | - | - | -2,202 | - | - | - | -2,240 | - | - | - |
Total Debt Repaid | -73 | -4,430 | -2,239 | -2,638 | -2,777 | -2,712 | -3,046 | -4,065 | -2,441 | -1,515 | -1,522 | -851.8 | -2,202 | -2,702 | -2,702 | -2,253 | -2,240 | -2,744 | -4,081 | -4,380 |
Net Debt Issued (Repaid) | -73 | 1,146 | 1,637 | 1,566 | -71 | 1,536 | 3,065 | 302 | 2,993 | 1,550 | 741.4 | 3,609 | 1,198 | 1,845 | 649.8 | -1,084 | -1,071 | -2,737 | -4,178 | -4,482 |
Issuance of Common Stock | 118 | 291 | 395 | 376 | 328 | 302 | 232 | 285 | 260 | 290.9 | 291.3 | 263.5 | 248 | 255.4 | 259.6 | 285.3 | 285.7 | 231.8 | 270.5 | 255.3 |
Repurchase of Common Stock | -2,056 | -1,986 | -1,954 | -2,383 | -2,824 | -3,172 | -3,758 | -3,394 | -3,054 | -2,692 | -2,506 | -2,968 | -3,896 | -4,210 | -3,359 | -2,331 | -845.5 | -44.4 | -27.4 | -26.7 |
Common Dividends Paid | -5,115 | -5,060 | -4,995 | -4,930 | -4,870 | -4,810 | -4,718 | -4,628 | -4,533 | -4,437 | -4,346 | -4,254 | -4,168 | -4,086 | -4,035 | -3,981 | -3,919 | -3,851 | -3,818 | -3,785 |
Other Financing Activities | 1 | -153 | -146 | -6 | -58 | -59 | -73 | -42 | -40 | -17.5 | 104.4 | 40.8 | 38 | 34.7 | -57.9 | -51.4 | -46.7 | -32.7 | -21.1 | -8.4 |
Financing Cash Flow | -7,125 | -5,762 | -5,063 | -5,377 | -7,495 | -6,203 | -5,252 | -7,477 | -4,374 | -5,305 | -5,715 | -3,308 | -6,580 | -6,161 | -6,542 | -7,162 | -5,596 | -6,433 | -7,774 | -8,046 |
Foreign Exchange Rate Adjustments | 86 | -38 | 2 | -83 | -101 | 66 | -69 | -40 | -58 | 65.4 | -44.2 | -128.6 | -254 | -438.6 | -289.1 | -197.4 | -120.1 | -6.7 | 67.4 | 114.6 |
Miscellaneous Cash Flow Adjustments | -1 | 2 | - | -1 | 1 | - | 1 | 2 | - | - | - | - | - | - | - | - | - | - | - | - |
Net Cash Flow | -311 | 1,192 | 1,084 | 400 | -3,494 | -2,276 | -834 | -2,870 | 1,995 | 668.5 | -246.7 | 1,372 | -2,125 | -1,478 | -1,177 | -684 | 1,260 | 622 | -206.3 | -2,360 |
Free Cash Flow | 7,186 | 7,372 | 6,898 | 6,706 | 6,672 | 6,580 | 7,096 | 7,181 | 7,255 | 7,196 | 6,639 | 5,672 | 5,488 | 5,794 | 6,008 | 7,078 | 7,102 | 6,652 | 7,085 | 5,316 |
Free Cash Flow Growth | 7.70% | 12.04% | -2.79% | -6.62% | -8.04% | -8.55% | 6.88% | 26.60% | 32.20% | 24.18% | 10.51% | -19.86% | -22.72% | -12.89% | -15.20% | 33.15% | 53.57% | 56.44% | 105.91% | 0.56% |
Free Cash Flow Margin | 26.73% | 28.07% | 26.47% | 26.09% | 25.74% | 25.37% | 27.55% | 27.87% | 28.46% | 28.77% | 27.44% | 24.22% | 23.67% | 24.91% | 25.46% | 29.79% | 30.58% | 29.53% | 32.58% | 27.10% |
Free Cash Flow Per Share | 10.03 | 10.27 | 9.60 | 9.31 | 9.24 | 9.09 | 9.76 | 9.84 | 9.91 | 9.80 | 9.02 | 7.68 | 7.40 | 7.78 | 8.03 | 9.43 | 9.45 | 8.85 | 9.43 | 7.09 |
Cash Interest Paid | - | 1,523 | 1,523 | 1,523 | 1,523 | 1,287 | 1,287 | 1,287 | 1,287 | 1,184 | 1,184 | 1,184 | 1,184 | 1,197 | 1,197 | 1,197 | 1,197 | 1,136 | 1,136 | 1,136 |
Cash Income Tax Paid | - | 2,974 | 2,974 | 2,974 | 2,974 | 2,993 | 2,993 | 2,993 | 2,993 | 3,024 | 3,024 | 3,024 | 3,024 | 2,404 | 2,404 | 2,404 | 2,404 | 1,442 | 1,442 | 1,442 |
Levered Free Cash Flow | 4,625 | 4,395 | 5,428 | 5,306 | 5,127 | 7,301 | 6,292 | 6,308 | 6,558 | 6,424 | 5,987 | 5,003 | 5,288 | 4,133 | 5,408 | 6,320 | 6,008 | 6,911 | 6,131 | 4,807 |
Unlevered Free Cash Flow | 5,614 | 5,365 | 6,382 | 6,250 | 6,069 | 8,229 | 7,196 | 7,185 | 7,409 | 7,251 | 6,793 | 5,784 | 6,042 | 4,871 | 6,137 | 7,053 | 6,750 | 7,660 | 6,891 | 5,580 |
Change in Working Capital | 106 | 26 | -465 | -397 | -438 | -294 | 80 | -233 | -108 | -468 | -730.7 | -923 | -645 | 84.4 | 68.1 | 690.5 | 454.2 | 255.9 | 906.2 | 221.6 |
Updated Feb 11, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.