McDonald'sMCD

McDonald'sMCD

Revenue: is the business selling more than it used to?

$26.9B+4% YoYFY 2025

→Revenue reached $26.9B in 2025, compounding +5% a year since 2022 and the pace is picking up. The trailing twelve months are already running at $27.7B, ahead of the last full year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

Net income: how much of that revenue becomes profit?

$8.6B+4% YoYFY 2025

→Net income was $8.6B in 2025, compounding +12% a year over three years. Trailing twelve-month profit stands at $8.8B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

How fast is it growing, year by year?

+3.7%revenue growth, FY 2025

→Revenue grew +4% in 2025 against a five-year average of +7%. Earnings grew faster (+4%), so each new dollar of sales is arriving more profitably.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

Revenue per share: is your slice growing as fast as the company?

$37.53revenue per share, FY 2025

→Revenue per share reached $37.53 in 2025, compounding +6% a year against +5% for MCD as a whole. Buybacks added roughly 1.2 points to your per-share result. Free cash flow per share stands at $10.03.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

Free cash flow: what is left in real cash after everything?

$7.2B+8% YoYFY 2025

→Free cash flow was $7.2B in 2025, compounding +9% a year since 2022. The trailing twelve months stand at $7.8B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

How much of every sales dollar ends up as free cash?

→27 cents of every sales dollar became free cash in 2025, up 3 points since 2022.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

What does staying competitive cost, per dollar of sales?

→The biggest claim on each sales dollar is capital spending, at 13% of revenue (stock compensation 1%). That share has risen since 2022, so the cost of competing is climbing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

When sales grow, do profits grow faster?

→Operating profit outgrew revenue in 3 of the last 5 years, most recently +6% against +4%. Each additional dollar of sales is landing more profitably than the last - the definition of operating leverage.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

Margins: of every $1 of sales, how much survives each cost layer?

→Operating margin widened 6 points to 46% since 2022. After everything, 32 cents of each sales dollar reaches net profit. MCD doesn't tag a gross-profit line in its filings, so the chart starts at operating margin.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

What does it earn on the money it uses?

→Return on capital needs both a profit and an equity base; one of them isn't available here.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

What has the market paid for MCD over time?

20.8xP/E today

→At 20.8x earnings, the market is paying about what it has typically paid MCD's own 11-year median of 21.2x. Neither a bargain nor a stretch by its own standard.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

What cash return does the business throw off per dollar of market value?

4.3%FCF yield today

→Every dollar of market value currently buys 4.3% of annual free cash flow, more than its 11-year median of 3.8% - the cash is cheaper than usual.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

Could it handle its debt if things went wrong?

→Debt of $39.9B sits against $822M of cash. Earnings cover interest 7.9 times - adequate, with less room than it looks in a downturn.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

Is the company's own capital growing?

→Shareholders' equity is negative at $-1.0B: liabilities exceed assets. Usually the mark of heavy buybacks or accumulated losses, and always worth understanding which.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

How much goes back, and how much leaks out as stock comp?

→Shareholders received $2.1B in buybacks and $5.1B in dividends in 2025. Stock compensation issued $165M of new shares in the same year, offsetting 2% of that.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

How fast is your ownership being diluted - or concentrated?

→The share count shrank 0.8% in 2025, averaging 1.1% a year over three years. Buybacks are concentrating your ownership: the same business, split fewer ways.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

Is the dividend cheque growing?

→The dividend per share reached $7.14 in 2025, compounding +7% a year since 2020.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

Can it afford the dividend?

→The dividend consumed 60% of profit and 71% of free cash flow in 2025. That leaves room to keep paying through a weak year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

Does MCD earn more on its capital than that capital costs?

→MCD earns 22.5% on the capital it employs, well above the 10% most investors treat as the cost of capital. It was 20.1% in 2022, so the trend is up, and the pace is picking up.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

MCD has issued or retired shares - did shareholders end up better off?

→MCD has shrunk its share count -31% from 2011 to 2025, so each remaining share owns more of the business. Revenue per share is +45% over the same years.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

McDonald'sMCD

Are the people running it buying or selling?

→Insiders sold $28M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 48 filings were grants, option exercises or tax withholding, which say nothing either way.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30