MCDONALDS CORP
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | 40,771 | 104.6 |
| Stockholders' equity | (1,791) | -4.6 |
| Total capitalization | 38,980 | 100.0 |
707,641,531 shares outstanding at 30 June 2026 (cover page of the 10-Q filed 7 August 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Long-term debt, incl. current maturities | 39,973 |
| Long-term debt, noncurrent | 39,973 |
| Current maturities | 725 |
| Short-term borrowings / commercial paper | 798 |
CAPITAL STOCK 12/31/25
| Common shares authorized | 3,500,000,000 |
| Common shares issued | 1,660,600,000 |
| Treasury shares | 950,000,000 |
| Par or stated value per share ($) | 0.01 |
| Preferred stock ($ millions) | 0 |
| Outstanding at 6/30/26 | 707,641,531 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | 7.17 | 60.0 |
| 2024 | 6.78 | 59.5 |
| 2023 | 6.23 | 53.9 |
| 2022 | 5.66 | 67.9 |
| 2021 | 5.25 | 52.3 |
HISTORY AND BUSINESS
HISTORY: Incorporated in Delaware.
BUSINESS: Classified by the SEC under Standard Industrial Classification 5812, Retail-Eating Places. Large accelerated filer. Principal executive office: 110 North Carpenter Street, Chicago, IL 60607. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Revenues | 26,885 | 25,920 | 25,494 |
| Selling, general and administrative | 3,039 | 2,858 | 2,817 |
| Depreciation and amortization | 457 | 447 | 382 |
| Operating income | 12,393 | 11,712 | 11,647 |
| Interest expense | 1,582 | 1,506 | 1,361 |
| Income before income taxes | 3,291 | 3,282 | 3,665 |
| Income taxes | 2,334 | 2,121 | 2,053 |
| Net income | 8,563 | 8,223 | 8,469 |
| Earned per share, diluted ($) | 11.95 | 11.39 | 11.56 |
| Dividends per share ($) | 7.17 | 6.78 | 6.23 |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Cash and equivalents | 774 | 1,085 |
| Inventories | 61 | 56 |
| Total current assets | 4,163 | 4,599 |
| Property, plant and equipment, net | 28,241 | 25,295 |
| Goodwill | 3,354 | 3,145 |
| Total assets | 59,515 | 55,182 |
| Total current liabilities | 4,361 | 3,861 |
| Long-term debt | 39,973 | 38,424 |
| Stockholders' equity | (1,791) | (3,797) |
| Total liabilities and equity | 59,515 | 55,182 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Capital expend. | Free cash flow | Total assets | Total liabilities | Total debt | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 26,885 | 12,393 | 8,563 | 31.9 | 11.95 | 7.17 | 10,551 | 3,365 | 7,186 | 59,515 | 61,306d | 40,771 | (1,791) | -478.1 | -22.76 |
| 12/31/24 | 25,920 | 11,712 | 8,223 | 31.7 | 11.39 | 6.78 | 9,447 | 2,775 | 6,672 | 55,182 | 58,979d | 39,214 | (3,797) | -216.6 | -10.33 |
| 12/31/23 | 25,494 | 11,647 | 8,469 | 33.2 | 11.56 | 6.23 | 9,612 | 2,357 | 7,255 | 56,147 | 60,854d | 39,693 | (4,707) | -179.9 | -8.43 |
| 12/31/22 | 23,183 | 9,371 | 6,177 | 26.6 | 8.33 | 5.66 | 7,387 | 1,899 | 5,488 | 50,436 | 56,439d | 35,904 | (6,003) | -102.9 | -5.98 |
| 12/31/21 | 23,223 | 10,356 | 7,545 | 32.5 | 10.04 | 5.25 | 9,142 | 2,040 | 7,102 | 53,854 | 58,455d | 35,623 | (4,601) | -164.0 | -7.74 |
| 12/31/20 | 19,208 | 7,324 | 4,730 | 24.6 | 6.31 | 5.04 | 6,265 | 1,641 | 4,624 | 52,627 | 60,452d | 37,440 | (7,825) | -60.5 | -4.78 |
| 12/31/19 | 21,364 | 9,070 | 6,025 | 28.2 | 7.88 | 4.73 | 8,122 | 2,394 | 5,728 | 47,511 | 55,721d | 34,177 | (8,210) | -73.4 | -4.16 |
| 12/31/18 | 21,258 | 8,823 | 5,924 | 27.9 | 7.54 | 4.19 | 6,967 | 2,742 | 4,225 | 32,811 | 39,070d | 31,075 | (6,258) | -94.7 | -4.97 |
| 12/31/17 | 22,820 | 9,553 | 5,192 | 22.8 | 6.37 | 3.83 | 5,551 | 1,854 | 3,698 | 33,804 | 37,072d | 29,536 | (3,268) | -158.9 | -9.04 |
| 12/31/16 | 24,622 | 7,744 | 4,686 | 19.0 | 5.44 | 3.61 | 6,060 | 1,821 | 4,238 | 31,024 | 33,228d | 25,956 | (2,204) | -212.6 | -11.78 |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
MCDONALDS CORP
CIK 63908 · EIN 36-2361282
PRINCIPAL OFFICE:
110 North Carpenter Street, Chicago, IL 60607
Tel.: 630 623 3000
INCORPORATED:
Delaware
INDUSTRY (SEC SIC CODE):
5812 · Retail-Eating Places
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 24 February 2026
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/24/26) · 10-K FY2024 (filed 2/25/25) · 10-K FY2023 (filed 2/22/24) · 10-K FY2022 (filed 2/24/23) · 10-K FY2021 (filed 2/24/22) · 10-K FY2020 (filed 2/23/21) · 10-K FY2019 (filed 2/26/20) · 10-K FY2018 (filed 2/22/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.