Global foodservice retailer operating franchised and company-owned restaurants under the McDonald's brand in many countries.
Profile & Fundamentals
McDonald's: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
McDonald's Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
Explore this pageJump to a Profile & Fundamentals section
Explore this research
Profile & Fundamentals contents
Jump directly to any section
Company and Market Context
Company Profile & Ownership
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.
Company profile record
McDonald’s Corporation
Common Stock · Consumer Discretionary · Restaurants
Company
- Company / asset
- McDonald’s Corporation
- Security type
- Common Stock
- Sector
- Consumer Discretionary
- Industry
- Restaurants
- HQ
- 🇺🇸 United States
- Head office
- 110 North Carpenter Street, Chicago, IL, United States, 60607
Leadership & scale
- Chief executive
- Mr. Christopher J. Kempczinski
- CEO year born
- 1969
- Full-time employees
- 150K
- Fiscal year end
- December
- IPO date
- 1965-04-21
Fundamentals snapshot
- Market Cap
- USD 165.9B
- P/E
- 18.9x
- Revenue (Q2 26)
- USD 7.1B
- Profit (Q2 26)
- USD 2.4B
- Dividend Yield
- 2.2%
- Revenue (FY 25)
- USD 26.9B
- Shares in public float
- 706.6M
- Insider ownership
- 0.26%
Reporting & identifiers
- Symbol
- MCD.NYSE
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US5801351017
- Asset ID
- equity_87cf683d-e37f-57df-b1b2-bcd2c0441706
Ownership
Shares Outstanding
Latest: 713.5M | Max: 803.0M | Min: 713.5M
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
99.03%
706.6M latest reported shares
Insider Ownership
0.26%
Latest reported insider stake
Short Float
0.02%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 803,000,000 |
| 2018-01-01 | 776,600,000 |
| 2019-01-01 | 755,600,000 |
| 2020-01-01 | 751,000,000 |
| 2021-01-01 | 751,600,000 |
| 2022-01-01 | 736,000,000 |
| 2023-01-01 | 727,800,000 |
| 2024-01-01 | 719,700,000 |
| 2025-01-01 | 714,200,000 |
| 2026-01-01 | 713,500,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| BlackRock Inc | 55,352,735 | 7.82% | 2026-03-31 |
| Vanguard Capital Management, LLC | 46,216,017 | 6.53% | 2026-03-31 |
| JPMorgan Chase & Co | 37,656,840 | 5.32% | 2026-03-31 |
| State Street Corp | 35,433,830 | 5.01% | 2026-03-31 |
| Vanguard MStar Total Stk Mkt Idx Invest | 22,578,568 | 3.19% | 2026-08-31 |
| Vanguard Portfolio Management, LLC | 19,104,792 | 2.7% | 2026-03-31 |
| Vanguard 500 Index Investor | 18,873,533 | 2.67% | 2026-08-31 |
| Geode Capital Management, LLC | 17,961,915 | 2.54% | 2026-03-31 |
| Morgan Stanley - Brokerage Accounts | 15,618,509 | 2.21% | 2026-03-31 |
| Bank of America Corp | 12,156,558 | 1.72% | 2026-03-31 |
| NORGES BANK | 9,878,380 | 1.4% | 2026-06-30 |
| T. Rowe Price Associates, Inc. | 9,734,954 | 1.38% | 2026-03-31 |
| iShares Core S&P 500 ETF | 9,461,438 | 1.34% | 2026-08-31 |
| Fidelity 500 Index | 9,187,587 | 1.3% | 2026-07-31 |
| Capital Research Global Investors | 8,961,454 | 1.27% | 2026-06-30 |
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
McDonald's latest financial results demonstrate remarkable earnings durability anchored by its franchised business structure. Revenue reached $27.7 billion for the trailing twelve months ended June 2026, generating $8.79 billion in net income and $12.70 billion in operating profit. While recent quarterly domestic sales growth slowed to 0.8%, this top-line durability reflects contractual rent and royalty collection rather than the volatile day-to-day profit margins of individual restaurants. Crucially, this earnings stability converts cleanly into real cash. Trailing free cash flow stood at $7.76 billion, easily funding the company's dividend obligations and share repurchases. While headlines focus on lower-income customer fatigue, the underlying franchise system continues to generate reliable cash flow through varying economic cycles.
McDonald's latest financial results demonstrate remarkable earnings durability anchored by its franchised business structure. Revenue reached $27.7 billion for the trailing twelve months ended June 2026, generating $8.79 billion in net income and $12.70 billion in operating profit. While recent quarterly domestic sales growth slowed to 0.8%, this top-line durability reflects contractual rent and royalty collection rather than the volatile day-to-day profit margins of individual restaurants. Crucially, this earnings stability converts cleanly into real cash. Trailing free cash flow stood at $7.76 billion, easily funding the company's dividend obligations and share repurchases. While headlines focus on lower-income customer fatigue, the underlying franchise system continues to generate reliable cash flow through varying economic cycles.
Revenue, Net Income, and Free Cash Flow
Latest: USD 26.9B | Max: USD 26.9B | Min: USD 3.7B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 25x
Profitability & Margins
Margins and Operating Efficiency
AI Review
McDonald's operating profitability remains exceptionally strong, with consolidated operating margins holding steady at 46.1% in fiscal 2025 and net profit margins near 32%. This performance places McDonald's among the most profitable enterprises in global commerce. These wide margins exist because roughly 95% of restaurants are operated by franchisees who pay corporate fixed rent and gross revenue royalties. By collecting royalties from top-line restaurant sales, corporate McDonald's shifts wholesale food inflation, utility spikes, and restaurant-level wage increases to store operators. While promotional value meals temporarily squeeze store-level margins, the master royalty model keeps corporate cash conversion remarkably insulated from retail operating pressures.
McDonald's operating profitability remains exceptionally strong, with consolidated operating margins holding steady at 46.1% in fiscal 2025 and net profit margins near 32%. This performance places McDonald's among the most profitable enterprises in global commerce. These wide margins exist because roughly 95% of restaurants are operated by franchisees who pay corporate fixed rent and gross revenue royalties. By collecting royalties from top-line restaurant sales, corporate McDonald's shifts wholesale food inflation, utility spikes, and restaurant-level wage increases to store operators. While promotional value meals temporarily squeeze store-level margins, the master royalty model keeps corporate cash conversion remarkably insulated from retail operating pressures.
Profitability Margins
Latest: 57.4% | Max: 57.4% | Min: 19.0%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
57.4%
Gross profit / revenue
Operating Margin
46.1%
Operating income / revenue
Net Margin
31.9%
Net income / revenue
FCF Margin
26.7%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 24,621,900,000 | 4,686,500,000 | 4,238,500,000 |
| 2017-12-31 | 22,820,400,000 | 5,192,300,000 | 3,697,500,000 |
| 2018-12-31 | 21,257,900,000 | 5,924,300,000 | 4,225,000,000 |
| 2019-12-31 | 21,364,400,000 | 6,025,400,000 | 5,728,400,000 |
| 2020-12-31 | 19,207,800,000 | 4,730,500,000 | 4,624,400,000 |
| 2021-12-31 | 23,222,900,000 | 7,545,200,000 | 7,101,500,000 |
| 2022-12-31 | 23,182,000,000 | 6,177,000,000 | 5,487,500,000 |
| 2023-12-31 | 25,495,000,000 | 8,469,000,000 | 7,254,500,000 |
| 2024-12-31 | 25,920,000,000 | 8,223,000,000 | 6,672,000,000 |
| 2025-12-31 | 26,885,000,000 | 8,563,000,000 | 7,186,000,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 25.49 | Trailing four quarters |
| 2024-12-31 | 25.38 | Trailing four quarters |
| 2023-12-31 | 25.48 | Trailing four quarters |
| 2022-12-31 | 31.4 | Annual net income |
| 2021-12-31 | 26.7 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 41.45 | 31.45 | 19.03 | 17.21 |
| 2017-12-31 | 46.54 | 41.86 | 22.75 | 16.2 |
| 2018-12-31 | 50.96 | 41.5 | 27.87 | 19.87 |
| 2019-12-31 | 52.33 | 42.45 | 28.2 | 26.81 |
| 2020-12-31 | 50.77 | 38.13 | 24.63 | 24.08 |
| 2021-12-31 | 54.17 | 44.59 | 32.49 | 30.58 |
| 2022-12-31 | 56.97 | 40.42 | 26.65 | 23.67 |
| 2023-12-31 | 57.12 | 45.68 | 33.22 | 28.45 |
| 2024-12-31 | 56.75 | 45.19 | 31.72 | 25.74 |
| 2025-12-31 | 57.41 | 46.1 | 31.85 | 26.73 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-29.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
Complete Research Workspace
Unlock the complete Profile & Fundamentals
Sign in to verify your access, or upgrade to the Base plan to open the complete profile & fundamentals and available source data.