MCDONALDS CORPMCD
MCDONALDS CORP Financial Overview 2021–2025
Updated Jul 10, 2026McDonald's generated a staggering $139.4 billion in systemwide sales in FY2025 on just $26.9 billion of corporate revenue, underscoring the immense financial leverage of a model where approximately 95% of global restaurants are franchised. By aggressively expanding its digital loyalty platforms and enforcing strategic menu price increases, the fast-food giant has successfully insulated its profitability against persistent global macroeconomic pressures.
This pricing power and operational efficiency drove consolidated revenues from $23.2 billion in FY2021 to $26.9 billion by FY2025. Over the same time frame, McDonald's proved its ability to extract more value per store, expanding its operating margin to a formidable 46.1% in FY2025. The company is now leaning heavily into physical expansion, targeting 50,000 global locations by 2027. This massive scale continues to fund substantial capital returns, with management distributing $7.1 billion to shareholders through dividends and buybacks in FY2025 alone. Fundamental momentum carried forward into Q1 2026, which saw total revenues jump 9% alongside a 3.8% increase in global comparable sales.
Investors have consistently paid a premium for this highly profitable and predictable cash flow stream. At the close of FY2025, shares traded at $305.63, valuing the company at 25.6x its final annual earnings of $11.95 per share.
Recent Developments (Q4 2025 and Q1 2026)
In Q1 2026, McDonald's generated $6.5 billion in total revenues and drove diluted earnings per share up 7% to $2.78. To support physical expansion, the company earmarked between $3.7 billion and $3.9 billion in capital expenditures to open 2,600 new restaurants during 2026. Operational efficiency improved as restructuring charges fell to $47 million, down from $66 million a year earlier. Governance also shifted in February 2026 when James D. Farley, Jr. was appointed, expanding the Board of Directors to 12 members.
Bulls argue the growth strategy is paying off, pointing to an 11% surge in Q1 2026 systemwide sales. Bears caution that heavy capital requirements for new units could pressure near-term free cash flow. The stock traded at 23.7x earnings as of May 7, 2026, presenting a slight valuation discount compared to its end-of-year multiple.
What to watch: execution of the 4.5% net unit growth target; international constant-currency sales momentum
Rev
$26.89B
FY2025
NI
$8.56B
FY2025
EPS
$12.00
FY2025
OCF
$10.55B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
MCDONALDS CORP 8-K Report, Shareholder Vote Results (May 22, 2026)
McDonald's Corporation (MCD) filed an 8-K on May 22, 2026, detailing the voting results from its 2026 Annual Shareholders' Meeting held on May 20, 2026. The primary focus of the filing is the outcome of shareholder votes on key corporate governance matters, including the election of directors, executive compensation, auditor ratification, and two shareholder proposals. Investors will be interested to note that all 12 director nominees were overwhelmingly re-elected, with significant "For" votes across the board. Similarly, the advisory proposal to approve executive compensation received strong support, indicating shareholder confidence in the company's compensation strategies. The appointment of Ernst & Young LLP as the independent auditor for 2026 was also overwhelmingly ratified. However, two shareholder proposals, one advocating for an Independent Chair policy and another concerning shareholders' right to act by written consent, did not receive majority support, with a substantial number of "Against" votes.
MCDONALDS CORP 8-K Report, Financial Results (May 7, 2026)
McDonald's Corporation (MCD) has filed an 8-K report on May 7, 2026, to announce its financial results for the first quarter ended March 31, 2026. The report primarily directs investors to an accompanying investor release (Exhibit 99.1) and supplemental financial information (Exhibit 99.2) for detailed insights into the company's performance during the quarter. This filing signals the official communication of the company's operational and financial condition for the period. Investors should review the referenced exhibits for comprehensive data on revenue, profitability, same-store sales, and any forward-looking guidance provided by McDonald's management. These documents will offer the crucial details needed to assess the company's strategic execution and its impact on shareholder value. The 8-K filing itself serves as the formal notification of the availability of this detailed financial information.
MCDONALDS CORP 8-K/A Report, Executive Changes (Apr 2, 2026)
McDonald's Corporation (MCD) has filed an amendment to a previous 8-K filing, providing an update on the committee assignments for newly elected Director James D. Farley, Jr. This amendment clarifies that Mr. Farley, who was elected to the Board on February 4, 2026, has now been appointed to serve on both the Audit & Finance Committee and the Corporate Responsibility Committee, effective March 30, 2026. While this filing does not introduce new strategic or financial information, it provides important governance details regarding the composition and functioning of key board committees.
MCDONALDS CORP 8-K Report, Financial Results (Feb 11, 2026)
McDonald's Corporation has filed an 8-K report on February 11, 2026, announcing its financial results for the fourth quarter and full year ended December 31, 2025. The filing incorporates by reference an investor release (Exhibit 99.1) and supplemental financial information (Exhibit 99.2), both detailing the company's performance. Investors should review these exhibits for comprehensive insights into the company's operational and financial standing for the period. While the specific financial figures are not detailed within the 8-K text itself, the report signifies the official dissemination of McDonald's 2025 year-end performance metrics. This includes key profitability, revenue, and operational data that will be crucial for understanding the company's trajectory and evaluating its stock. Investors are encouraged to access the referenced exhibits to gain a complete understanding of these results.
MCDONALDS CORP 8-K Report, Executive Changes (Feb 10, 2026)
McDonald's Corporation announced a strategic expansion of its Board of Directors, increasing its size to 12 members and appointing James D. Farley, Jr. as a new director, effective February 4, 2026. This move signals a potential strengthening of governance and strategic oversight for the company. Mr. Farley has been deemed independent by NYSE listing standards, indicating no conflicts of interest and a focus on impartial guidance. His appointment is part of a standard compensation plan for non-employee directors. Investors should view this as a positive development, reflecting the company's commitment to robust corporate governance and potentially bringing new perspectives to the Board. The addition of an independent director like Mr. Farley, who has no prior material relationships or transactions with McDonald's, suggests a deliberate effort to enhance the Board's effectiveness and shareholder representation. The detailed announcement of this appointment, including his independence status, underscores the company's transparency.
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