McDonald's Corporation (MCD)
NYSE: MCD · Real-Time Price · USD
273.69
-1.11 (-0.40%)
Nov 12, 2026, 2:10 PM EST - Market open
McDonald's Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Net Income | 8,995 | 8,563 | 8,223 | 8,469 | 6,177 | 7,545 |
Depreciation & Amortization | 2,274 | 2,199 | 2,097 | 1,978 | 1,871 | 1,868 |
Loss (Gain) From Sale of Assets | -149 | -149 | -37 | -103 | 733 | -97.8 |
Stock-Based Compensation | 182 | 165 | 172 | 175 | 167 | 139.2 |
Other Operating Activities | -366 | -333 | -570 | -799 | -916 | -767.4 |
Change in Accounts Receivable | 231 | 231 | 10 | -161 | -264 | 309.9 |
Change in Inventory | -140 | -140 | 71 | 17 | 6 | -62.2 |
Change in Accounts Payable | 100 | 100 | -10 | 50 | 31 | 225 |
Change in Income Taxes | -239 | -239 | -292 | -220 | -547 | -302.5 |
Change in Other Net Operating Assets | 63 | 154 | -217 | 206 | 129 | 284 |
Operating Cash Flow | 10,951 | 10,551 | 9,447 | 9,612 | 7,387 | 9,142 |
Operating Cash Flow Growth | 4.44% | 11.69% | -1.72% | 30.12% | -19.19% | 45.91% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Capital Expenditures | -3,460 | -3,365 | -2,775 | -2,357 | -1,899 | -2,040 |
Sale of Property, Plant & Equipment | 197 | 130 | 122 | 95 | 39 | 106.2 |
Cash Acquisitions | -332 | -354 | -669 | -441 | -807 | -374.2 |
Divestitures | 575 | 346 | 311 | 195 | 446 | 196.2 |
Investment in Securities | - | - | -1,837 | - | - | - |
Other Investing Activities | -533 | -579 | -498 | -677 | -457 | -53.9 |
Investing Cash Flow | -3,553 | -3,822 | -5,346 | -3,185 | -2,678 | -2,166 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Short-Term Debt Issued | - | 6 | 326 | 213 | 26 | 15.1 |
Long-Term Debt Issued | - | 4,724 | 2,380 | 5,221 | 3,374 | 1,154 |
Total Debt Issued | 1,155 | 4,730 | 2,706 | 5,434 | 3,400 | 1,170 |
Long-Term Debt Repaid | - | -4,802 | -2,777 | -2,441 | -2,202 | -2,240 |
Total Debt Repaid | -2,189 | -4,802 | -2,777 | -2,441 | -2,202 | -2,240 |
Net Debt Issued (Repaid) | -1,034 | -72 | -71 | 2,993 | 1,198 | -1,071 |
Issuance of Common Stock | 224 | 285 | 328 | 260 | 248 | 285.7 |
Repurchase of Common Stock | -2,343 | -2,056 | -2,824 | -3,054 | -3,896 | -845.5 |
Common Dividends Paid | -5,277 | -5,115 | -4,870 | -4,533 | -4,168 | -3,919 |
Other Financing Activities | -220 | -167 | -58 | -40 | 38 | -46.7 |
Financing Cash Flow | -8,650 | -7,125 | -7,495 | -4,374 | -6,580 | -5,596 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Foreign Exchange Rate Adjustments | 34 | 86 | -101 | -58 | -254 | -120.1 |
Miscellaneous Cash Flow Adjustments | -2 | -1 | 1 | - | - | - |
Net Cash Flow | -1,220 | -311 | -3,494 | 1,995 | -2,125 | 1,260 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Free Cash Flow | 7,491 | 7,186 | 6,672 | 7,255 | 5,488 | 7,102 |
Free Cash Flow Growth | 1.61% | 7.70% | -8.04% | 32.20% | -22.72% | 53.57% |
Free Cash Flow Margin | 26.96% | 26.73% | 25.74% | 28.46% | 23.67% | 30.58% |
Free Cash Flow Per Share | 10.53 | 10.03 | 9.24 | 9.91 | 7.40 | 9.45 |
Levered Free Cash Flow | 5,670 | 6,296 | 5,127 | 6,558 | 5,288 | 6,008 |
Unlevered Free Cash Flow | 6,687 | 7,285 | 6,069 | 7,409 | 6,042 | 6,750 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Cash Interest Paid | 1,555 | 1,555 | 1,523 | 1,287 | 1,184 | 1,197 |
Cash Income Tax Paid | 2,688 | 2,688 | 3,000 | 3,000 | 3,024 | 2,404 |
Change in Working Capital | 15 | 106 | -438 | -108 | -645 | 454.2 |