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McDonald's Corporation owns, operates, and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, frozen desserts, sundaes, soft serve cones, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions. The company owns and operates franchised restaurants under various structures, including conventional franchise, developmental license, or affiliate. McDonald's Corporation was founded in 1940 and is based in Chicago, Illinois.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $26.9B | $14.7B | $8.6B | $7.2B | -478.4% | 3.7% | 4.1% |
| 2024 | $25.9B | $13.9B | $8.2B | $6.7B | -216.6% | 1.7% | -2.9% |
| 2023 | $25.5B | $13.9B | $8.5B | $7.3B | -180.0% | 10.0% | 37.1% |
| 2022 | $23.2B | $10.9B | $6.2B | $5.5B | -102.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 23,182 | 25,495 | 25,920 | 26,885 |
| Cost Of Revenue | 9,975 | 10,931 | 11,210 | 11,451 |
| Gross Profit | 13,207 | 14,564 | 14,710 | 15,434 |
| Operating Expense | 2,862 | 2,817 | 2,859 | 3,040 |
| Operating Income | 10,345 | 11,747 | 11,851 | 12,394 |
| EBITDA | 10,903 | 13,861 | 13,948 | 14,678 |
| EBIT | 9,032 | 11,883 | 11,851 | 12,479 |
| Pretax Income | 7,825 | 10,522 | 10,345 | 10,897 |
| Tax Provision | 1,648 | 2,053 | 2,121 | 2,334 |
| Net Income | 6,177 | 8,469 | 8,223 | 8,563 |
| Net Income Common Stockholders | 6,177 | 8,469 | 8,223 | 8,563 |
| Total Expenses | 12,837 | 13,748 | 14,069 | 14,491 |
| Interest Expense | 1,207 | 1,361 | 1,506 | 1,582 |
| Interest Income | 44 | 187 | 103 | 82 |
| Selling General And Administration | 2,492 | 2,435 | 2,412 | 2,583 |
| Normalized EBITDA | 11,856 | 14,094 | 14,251 | 14,911 |
| Normalized Income | 6,928.92 | 8,656.56 | 8,463.88 | 8,746.09 |
| Market Cap | 212,793 | 212,793 | 212,793 | 212,793 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| McDonald's Corporationthis co. | MCD | $213.7B | 24.85↓ discount | -118.88 | -478.4% | 18.18 |
| The Home Depot, Inc. | HD | $333.5B | 23.63 | 26.11 | 110.5% | 15.86 |
| The TJX Companies, Inc. | TJX | $175.0B | 31.74 | 17.11 | 53.9% | 21.07 |
| Lowe's Companies, Inc. | LOW | $137.0B | 20.58 | -13.81 | -67.1% | 14.49 |
| Starbucks Corporation | SBUX | $112.2B |
| 60.56 |
| -13.88 |
| -22.9% |
| 28.17 |
| Marriott International, Inc. | MAR | $100.2B | 37.40 | -25.80 | -69.0% | 23.74 |
| MercadoLibre, Inc. | MELI | $93.0B | 46.59 | 13.79 | 29.6% | 26.38 |
| Airbnb, Inc. | ABNB | $87.5B | 34.10 | 10.44 | 30.6% | 31.89 |
| O'Reilly Automotive, Inc. | ORLY | $79.3B | 30.77 | -102.30 | -332.5% | 21.67 |
| Peer Median | - | 32.92 | -1.68 | 3.3% | 22.71 | |