McDonald's (MCD): financials, SEC filings and peers
McDonald's (MCD) is a restaurants company in the Consumer Discretionary sector of the S&P 500, headquartered in Chicago, Illinois.
It was founded in 1940 and joined the S&P 500 on June 30, 1970.
Its fiscal year ends in December, and its shares trade on the NYSE.
In its SEC filings it is classified as “Retail-Eating Places”.
McDonald's at a glance
- Revenue (12 months)
- $27.8B
- Revenue growth
- +5.8%
- Operating margin
- 46.9%
- Net income (12 months)
- $9.0B
- Free cash flow (12 months)
- $7.5B
- Cash
- $1.2B
- Debt
- $39.8B
- Diluted EPS (12 months)
- $12.64
Twelve months to September 30, 2026, from the 10-Q filed November 6, 2026.
Latest twelve months
Over the twelve months to September 30, 2026, McDonald's reported revenue of $27.8 billion, about the same as a year earlier (+5.8%).
Its operating margin was 46.9%: for every $100 of sales, about $47 was left as operating profit.
Net income was $9.0 billion (32.4% of revenue), 6.9% higher than a year earlier.
Operating cash flow was $10.9 billion and capital spending $3.5 billion, leaving free cash flow of $7.5 billion (27.0% of revenue).
At the end of the period it held $1.2 billion in cash and $39.8 billion in debt, a net debt position of $38.6 billion.
The diluted share count fell 1.1% in a year, typically the result of buybacks.
Five-year trend
- Revenue went from $19.2 billion in fiscal 2020 to $26.9 billion in fiscal 2025, about 7.0% a year.
- Revenue has grown for 3 fiscal years in a row.
- Operating margin widened from 38.1% to 46.1% over the same years.
- Free cash flow was positive in each of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $23.2B | $23.2B | $25.5B | $25.9B | $26.9B |
| Revenue growth | 20.9% | -0.2% | 10.0% | 1.7% | 3.7% |
| Operating margin | 44.6% | 40.4% | 45.7% | 45.2% | 46.1% |
| Net income | $7.5B | $6.2B | $8.5B | $8.2B | $8.6B |
| Free cash flow | $7.1B | $5.5B | $7.3B | $6.7B | $7.2B |
| Diluted EPS | $10.04 | $8.33 | $11.56 | $11.39 | $11.95 |
Fiscal years as reported in McDonald's’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
- 10-Q filed November 6, 2026 — quarterly report
- 8-K filed November 4, 2026 — Earnings results
- 8-K filed September 23, 2026 — Regulation FD disclosure
- 10-Q filed August 7, 2026 — quarterly report
- 8-K filed August 4, 2026 — Executive or director change; Regulation FD disclosure
- 8-K filed August 4, 2026 — Earnings results
- 8-K filed May 22, 2026 — Shareholder vote results
- 10-Q filed May 7, 2026 — quarterly report
Companies like McDonald's
Other S&P 500 companies in Restaurants:
- CMGChipotle Mexican GrillNewport Beach, California
- DPZDomino'sAnn Arbor, Michigan
- DRIDarden RestaurantsOrlando, Florida
- SBUXStarbucksSeattle, Washington
- YUMYum! BrandsLouisville, Kentucky
More from Consumer Discretionary
Questions about McDonald's
Is McDonald's's revenue growing?
Yes. Revenue for the twelve months to September 30, 2026 was $27.8 billion, up 5.8% from a year earlier, according to its SEC filings.
Is McDonald's profitable?
Yes. It earned $9.0 billion in net income over the twelve months to September 30, 2026, a net margin of 32.4%.
Does McDonald's have more cash or more debt?
At September 30, 2026 it had $1.2 billion in cash and $39.8 billion in debt, so more debt than cash.
When did McDonald's last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on November 6, 2026.
Which companies are similar to McDonald's?
In the S&P 500, McDonald's is grouped in Restaurants within the Consumer Discretionary sector. Chipotle Mexican Grill (CMG), Domino's (DPZ), Darden Restaurants (DRI), Starbucks (SBUX), Yum! Brands (YUM) are in the same group.
Understand the numbers
Source: McDonald's’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.