McDonald’s is a fast-food restaurant chain from Chicago. Most restaurants are run by franchisees; the company earns rent, royalties and income from its own restaurants. It is known for the Big Mac, fries and McCafé, in more than 100 countries. As of Oct 13, 2026
As of Oct 13, 2026Fact sheet (from the annual report)Restaurants · Chicago, USAfull fact sheet
McDonald’s grants franchise licenses for restaurants and also operates its own restaurants in more than 100 countries. At the end of 2025 almost all restaurants were run by franchisees. Revenue consists of sales at company-operated restaurants and fees from franchised restaurants. Under conventional franchise agreements, the company generally owns the land and building itself or has leased them long-term; the franchisee pays for equipment, signs, seating and decor. The menu includes hamburgers, french fries, desserts and drinks such as coffee, among other things.
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
Double bottom · Analysis method
This method currently detects no pattern for MCD. The check runs daily after the close.
You see new patterns immediately from Watcher, on the free plan 2 days after they form. Plans and pricing
What does the pattern show?
What is this? The price has formed two similarly deep lows and broken above the neckline between them. This is seen as a sign that the downward move is ending.
SEC filing (10-K, 10-Q)Required reports of listed companies to the US Securities and Exchange Commission (SEC): 10-K is the annual report, 10-Q the quarterly report, 20-F the annual report of foreign companies. We show the figures of the first filing.Example: 10-K for the fiscal year ending Sep 27, 2025, filed on Oct 31, 2025.More in the Academy: Lesson revenue, profit and margin
McDonald's · Sector Consumer Discretionary · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 24, 2026.
Quality checks
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
–no data: Gross margin above 40%not stated in the SEC filings
✓met: Operating margin above 15%46.1%
✓met: Net margin above 10%31.9%
–no data: Return on equity above 15%negative equity
✓met: Free cash flow margin above 10%26.7%
✓met: Profit in each of the last 5 fiscal years5 of 5
✓met: Free cash flow positive in each of the last 3 fiscal years3 of 3
✗not met: Equity ratio above 30%−3.0%
Operating margin
46.1%Fiscal year 2025
All95strong
Rank 95 of 100: higher than 95% of 192 peers (All). strong.
Sector98strong
Rank 98 of 100: higher than 98% of 20 peers (Sector). strong.
Median Consumer Discretionary: 11.5%
Operating income divided by revenue: what the core business earns before interest and taxes.
Net margin
31.9%Fiscal year 2025
All88strong
Rank 88 of 100: higher than 88% of 237 peers (All). strong.
Sector98strong
Rank 98 of 100: higher than 98% of 21 peers (Sector). strong.
Median Consumer Discretionary: 8.6%
Profit after all costs, interest and taxes divided by revenue.
Return on assets
14.4%Fiscal year 2025 (total assets at year end)
All83strong
Rank 83 of 100: higher than 83% of 238 peers (All). strong.
Sector93strong
Rank 93 of 100: higher than 93% of 21 peers (Sector). strong.
Median Consumer Discretionary: 9.4%
Net income divided by total assets at fiscal year end.
Equity ratio
−3.0%Fiscal year 2025
All5weak
Rank 5 of 100: higher than 5% of 239 peers (All). weak.
Sector25weak
Rank 25 of 100: higher than 25% of 22 peers (Sector). weak.
Median Consumer Discretionary: 26.1%
Equity as a share of total assets. Usually low for banks.
Free cash flow margin
26.7%Fiscal year 2025
All80strong
Rank 80 of 100: higher than 80% of 213 peers (All). strong.
Sector93strong
Rank 93 of 100: higher than 93% of 21 peers (Sector). strong.
Median Consumer Discretionary: 8.9%
Free cash flow divided by revenue.
Free cash flow
7.2B USDFiscal year 2025
Operating cash flow minus capital expenditure on property and equipment.
Growth 6 of 7 met
✓met: Over 3 years, revenue grew by more than 5% per year+5.1%
✓met: Over 5 years, revenue grew by more than 5% per year+7.0%
✗not met: Over 10 years, revenue grew by more than 5% per year+0.6%
✓met: Over 3 years, EPS grew by more than 5% per year+12.8%
✓met: Over 5 years, EPS grew by more than 5% per year+13.6%
✓met: Revenue rose in at least 4 of the last 5 fiscal years4 of 5
✓met: Revenue rose in the last fiscal year+3.7%
Revenue growth 3 years
+5.1%per year
All36medium
Rank 36 of 100: higher than 36% of 230 peers (All). medium.
Sector34medium
Rank 34 of 100: higher than 34% of 22 peers (Sector). medium.
Median Consumer Discretionary: +6.2%
Average growth per year over 3 fiscal years.
Revenue growth 5 years
+7.0%per year
All29weak
Rank 29 of 100: higher than 29% of 217 peers (All). weak.
Sector31weak
Rank 31 of 100: higher than 31% of 21 peers (Sector). weak.
Median Consumer Discretionary: +12.7%
Average growth per year over 5 fiscal years.
Revenue growth 10 years
+0.6%per year
All11weak
Rank 11 of 100: higher than 11% of 157 peers (All). weak.
Sector8weak
Rank 8 of 100: higher than 8% of 18 peers (Sector). weak.
Median Consumer Discretionary: +6.3%
Average growth per year over 10 fiscal years.
EPS growth 3 years
+12.8%per year
All53medium
Rank 53 of 100: higher than 53% of 157 peers (All). medium.
Sector71strong
Rank 71 of 100: higher than 71% of 12 peers (Sector). strong.
Median Consumer Discretionary: +7.4%
Growth of earnings per share per year, adjusted for stock splits.
EPS growth 5 years
+13.6%per year
All49medium
Rank 49 of 100: higher than 49% of 146 peers (All). medium.
Sector46medium
Rank 46 of 100: higher than 46% of 12 peers (Sector). medium.
Median Consumer Discretionary: +14.6%
Growth of earnings per share per year, adjusted for stock splits.
EPS growth 10 years
+9.6%per year
All46medium
Rank 46 of 100: higher than 46% of 140 peers (All). medium.
Sector43medium
Rank 43 of 100: higher than 43% of 15 peers (Sector). medium.
Median Consumer Discretionary: +10.1%
Growth of earnings per share per year, adjusted for stock splits.
Dividend 6 of 6 met · 1 without data
✓met: Pays a dividend7.17 USD
✓met: Payout ratio at most 60% of earnings60%
✓met: Dividend paid in each of the last 5 fiscal years5 of 5
✓met: Dividend per share never lowered in the last 5 fiscal yearsDividend per share as filed with the SEC, including special dividends; a one-off higher prior year does not count as a cut.never
✓met: Dividend per share higher than 5 years ago+7.3%
–no data: Free cash flow per share covers the dividendnot stated in the SEC filings
✓met: Dividends paid over the last 5 years covered by free cash flow67% of free cash flow
Payout ratio
60%Fiscal year 2025
Dividend per share divided by earnings per share.
Dividend growth 5 years
+7.3%per year
All38medium
Rank 38 of 100: higher than 38% of 118 peers (All). medium.
Sector4weak
Rank 4 of 100: higher than 4% of 12 peers (Sector). weak.
Median Consumer Discretionary: +23.8%
Growth of the dividend per share per year.
Financial strength 2 of 5 met · 1 without data
–no data: Piotroski F-Score at least 7 of 9too many criteria without data6 of 7 · 2 without data
✗not met: Long-term debt no higher than equitynegative equity
✗not met: Current assets cover current liabilities0.95
✗not met: Positive equity−1.8B USD
✓met: In 5 years, share count up by at most 5%−9.1%
✓met: Free cash flow positive in the last fiscal year7.2B USD
Piotroski F-Score
6 of 7Fiscal year 2025
No rank: not all 9 criteria have data.
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
Debt / equity
negative equityat fiscal year end
No rank: too few peers or not computed yet.
Long-term financial debt divided by equity.
Liquidity (current ratio)
0.95at fiscal year end
All20weak
Rank 20 of 100: higher than 20% of 215 peers (All). weak.
Sector20weak
Rank 20 of 100: higher than 20% of 22 peers (Sector). weak.
Median Consumer Discretionary: 1.15
Current assets divided by current liabilities.
Change in share count
−9.1%in 5 years
All78strong
Rank 78 of 100: lower than 78% of 199 peers (All). strong.
Sector70strong
Rank 70 of 100: lower than 70% of 22 peers (Sector). strong.
Median Consumer Discretionary: −7.4%
Change in diluted share count. Negative = share buybacks, positive = new shares.
The 9 criteria of the Piotroski F-Score
✓met: Profit in the last fiscal year (positive return on assets)
✓met: Positive operating cash flow
✓met: Return on assets higher than the prior year
✓met: Operating cash flow higher than net income
✓met: Long-term debt relative to total assets fell
✗not met: Liquidity (current assets / current liabilities) rose
–no data: No additional shares (diluted share count did not rise)
–no data: Gross margin higher than the prior year
✓met: Revenue relative to total assets higher than the prior year
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
In short
Light yellow: Revenue grew over 5 years (+7.0% per year), more slowly than the sector median.
Light green: Net income (total) grew over 5 years (+12.6% per year), at least as fast as the sector median; per share +13.6% per year.
Light green: Net margin 31.9%, above the sector median (9.4%).
Light green: Profit in each of the last 10 fiscal years.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
RevenueNet incomeNet margin (below)in USD
010B20B30B
2016Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Revenue 24.6B USD · Net income 4.7B USD · Net margin 19.0%
2017Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Revenue 22.8B USD · Net income 5.2B USD · Net margin 22.8%
2018Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Revenue 21.0B USD · Net income 5.9B USD · Net margin 28.2%
2019Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Revenue 21.1B USD · Net income 6.0B USD · Net margin 28.6%
2020Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Revenue 19.2B USD · Net income 4.7B USD · Net margin 24.6%
2021Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Revenue 23.2B USD · Net income 7.5B USD · Net margin 32.5%
2022Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Revenue 23.2B USD · Net income 6.2B USD · Net margin 26.6%
2023Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Revenue 25.5B USD · Net income 8.5B USD · Net margin 33.2%
2024Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 25.9B USD · Net income 8.2B USD · Net margin 31.7%
2025Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 26.9B USD · Net income 8.6B USD · Net margin 31.9%
Margin
19%23%28%29%25%32%27%33%32%32%
RevenueNet incomeNet margin (below)in USD
02B4B6B8B
Q3/23Quarter Q3/23 (Jul 1, 2023 – Sep 30, 2023): Revenue 6.7B USD · Net income 2.3B USD · Net margin 34.6%
Q4/23Quarter Q4/23 (Oct 1, 2023 – Dec 31, 2023): Revenue 6.4B USD · Net income 2.0B USD · Net margin 31.8% · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/24Quarter Q1/24 (Jan 1, 2024 – Mar 31, 2024): Revenue 6.2B USD · Net income 1.9B USD · Net margin 31.3%
Q2/24Quarter Q2/24 (Apr 1, 2024 – Jun 30, 2024): Revenue 6.5B USD · Net income 2.0B USD · Net margin 31.2%
Q3/24Quarter Q3/24 (Jul 1, 2024 – Sep 30, 2024): Revenue 6.9B USD · Net income 2.3B USD · Net margin 32.8%
Q4/24Quarter Q4/24 (Oct 1, 2024 – Dec 31, 2024): Revenue 6.4B USD · Net income 2.0B USD · Net margin 31.6% · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/25Quarter Q1/25 (Jan 1, 2025 – Mar 31, 2025): Revenue 6.0B USD · Net income 1.9B USD · Net margin 31.4%
Q2/25Quarter Q2/25 (Apr 1, 2025 – Jun 30, 2025): Revenue 6.8B USD · Net income 2.3B USD · Net margin 32.9%
Q3/25Quarter Q3/25 (Jul 1, 2025 – Sep 30, 2025): Revenue 7.1B USD · Net income 2.3B USD · Net margin 32.2%
Q4/25Quarter Q4/25 (Oct 1, 2025 – Dec 31, 2025): Revenue 7.0B USD · Net income 2.2B USD · Net margin 30.9% · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/26Quarter Q1/26 (Jan 1, 2026 – Mar 31, 2026): Revenue 6.5B USD · Net income 2.0B USD · Net margin 30.4%
Q2/26Quarter Q2/26 (Apr 1, 2026 – Jun 30, 2026): Revenue 7.1B USD · Net income 2.4B USD · Net margin 33.3%
Margin
35%32%31%31%33%32%31%33%32%31%30%33%
Earnings per shareUSD per share
05.001015
2016Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Earnings per share 5.44 USD
2017Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Earnings per share 6.37 USD
2018Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Earnings per share 7.54 USD
2019Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Earnings per share 7.88 USD
2020Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Earnings per share 6.31 USD
2021Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Earnings per share 10.04 USD
2022Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Earnings per share 8.33 USD
2023Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Earnings per share 11.56 USD
2024Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Earnings per share 11.39 USD
2025Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Earnings per share 11.95 USD
Q4/25Quarter Q4/25 (Oct 1, 2025 – Dec 31, 2025): Earnings per share not reported separately for Q4
Q1/26Quarter Q1/26 (Jan 1, 2026 – Mar 31, 2026): Earnings per share 2.78 USD
Q2/26Quarter Q2/26 (Apr 1, 2026 – Jun 30, 2026): Earnings per share 3.32 USD
Dividend per sharePayout ratio (below)USD per share
02.004.006.008.00
2016Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Dividend per share 3.61 USD · Payout ratio 66.4%
2017Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Dividend per share 3.83 USD · Payout ratio 60.1%
2018Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Dividend per share 4.19 USD · Payout ratio 55.6%
2019Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Dividend per share 4.73 USD · Payout ratio 60.0%
2020Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Dividend per share 5.04 USD · Payout ratio 79.9%
2021Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Dividend per share 5.25 USD · Payout ratio 52.3%
2022Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Dividend per share 5.66 USD · Payout ratio 67.9%
2023Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Dividend per share 6.23 USD · Payout ratio 53.9%
2024Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Dividend per share 6.78 USD · Payout ratio 59.5%
2025Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Dividend per share 7.17 USD · Payout ratio 60.0%
Ratio
66%60%56%60%80%52%68%54%60%60%
Dividend per sharePayout ratio (below)USD per share
01.002.003.004.00
Q3/23Quarter Q3/23 (Jul 1, 2023 – Sep 30, 2023): Dividend per share 1.52 USD · Payout ratio 47.9%
Q4/23Quarter Q4/23 (Oct 1, 2023 – Dec 31, 2023): Dividend per share 1.67 USD · Payout ratio not available · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/24Quarter Q1/24 (Jan 1, 2024 – Mar 31, 2024): Dividend per share 1.67 USD · Payout ratio 62.8%
Q2/24Quarter Q2/24 (Apr 1, 2024 – Jun 30, 2024): Dividend per share 1.67 USD · Payout ratio 59.6%
Q3/24Quarter Q3/24 (Jul 1, 2024 – Sep 30, 2024): Dividend per share 3.44 USD · Payout ratio 109.9%
Q4/24Quarter Q4/24 (Oct 1, 2024 – Dec 31, 2024): Dividend per share 0.00 USD · Payout ratio not available · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/25Quarter Q1/25 (Jan 1, 2025 – Mar 31, 2025): Dividend per share 1.77 USD · Payout ratio 68.1%
Q2/25Quarter Q2/25 (Apr 1, 2025 – Jun 30, 2025): Dividend per share 1.77 USD · Payout ratio 56.4%
Q3/25Quarter Q3/25 (Jul 1, 2025 – Sep 30, 2025): Dividend per share 1.77 USD · Payout ratio 55.7%
Q4/25Quarter Q4/25 (Oct 1, 2025 – Dec 31, 2025): Dividend per share 1.86 USD · Payout ratio not available · Q4 derived (year minus 9 months), may be distorted by restatements
Q1/26Quarter Q1/26 (Jan 1, 2026 – Mar 31, 2026): Dividend per share 1.86 USD · Payout ratio 66.9%
Q2/26Quarter Q2/26 (Apr 1, 2026 – Jun 30, 2026): Dividend per share 1.86 USD · Payout ratio 56.0%
Ratio
48%63%60%110%68%56%56%67%56%
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 26.9B USD · Net income 8.6B USD · Net margin 31.9%
Figures over time
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Money flow in fiscal year 2025
Of 100 USD of revenue, 46.1 USD operating income and 31.9 USD net income remained.
Revenue26.9B USD · 100%Operating income12.4B USD · 46%Cost of revenue and operating expenses14.5B USD · 54%Net income8.6B USD · 32%Interest expense1.6B USD · 6%Taxes & other (net)2.2B USD · 8%
Money flow as a table
Fiscal year 2025, amounts in USD, share of revenue
Item
Amount
of revenue
Revenue
26.9B USD
100.0%
Operating income
12.4B USD
46.1%
Cost of revenue and operating expenses
14.5B USD
53.9%
Net income
8.6B USD
31.9%
Interest expense
1.6B USD
5.9%
Taxes & other (net)
2.2B USD
8.4%
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
Margins
The operating margin rose in 5 years from 38.1% to 46.1%.
Operating marginNet margin
0%20%40%60%
2016Fiscal year 2016: Operating margin 31.5% · Net margin 19.0%
2017Fiscal year 2017: Operating margin 41.9% · Net margin 22.8%
2018Fiscal year 2018: Operating margin 42.0% · Net margin 28.2%
2019Fiscal year 2019: Operating margin 43.0% · Net margin 28.6%
2020Fiscal year 2020: Operating margin 38.1% · Net margin 24.6%
2021Fiscal year 2021: Operating margin 44.6% · Net margin 32.5%
2022Fiscal year 2022: Operating margin 40.4% · Net margin 26.6%
2023Fiscal year 2023: Operating margin 45.7% · Net margin 33.2%
2024Fiscal year 2024: Operating margin 45.2% · Net margin 31.7%
2025Fiscal year 2025: Operating margin 46.1% · Net margin 31.9%
Returns
Return on assets rose in 5 years from 9.0% to 14.4%.
Return on assets
0%5%10%15%20%
2016Fiscal year 2016: Return on assets 15.1%
2017Fiscal year 2017: Return on assets 15.4%
2018Fiscal year 2018: Return on assets 18.1%
2019Fiscal year 2019: Return on assets 12.7%
2020Fiscal year 2020: Return on assets 9.0%
2021Fiscal year 2021: Return on assets 14.0%
2022Fiscal year 2022: Return on assets 12.2%
2023Fiscal year 2023: Return on assets 15.1%
2024Fiscal year 2024: Return on assets 14.9%
2025Fiscal year 2025: Return on assets 14.4%
Equity and long-term debt
The equity ratio rose in 5 years from −14.9% to −3.0%.
EquityLong-term debtin USDLong-term debt, depending on the filing, includes the current portion or leases.
2016Fiscal year 2016: Operating cash flow 6.1B USD · Capital expenditure 1.8B USD · Free cash flow 4.2B USD
2017Fiscal year 2017: Operating cash flow 5.6B USD · Capital expenditure 1.9B USD · Free cash flow 3.7B USD
2018Fiscal year 2018: Operating cash flow 7.0B USD · Capital expenditure 2.7B USD · Free cash flow 4.2B USD
2019Fiscal year 2019: Operating cash flow 8.1B USD · Capital expenditure 2.4B USD · Free cash flow 5.7B USD
2020Fiscal year 2020: Operating cash flow 6.3B USD · Capital expenditure 1.6B USD · Free cash flow 4.6B USD
2021Fiscal year 2021: Operating cash flow 9.1B USD · Capital expenditure 2.0B USD · Free cash flow 7.1B USD
2022Fiscal year 2022: Operating cash flow 7.4B USD · Capital expenditure 1.9B USD · Free cash flow 5.5B USD
2023Fiscal year 2023: Operating cash flow 9.6B USD · Capital expenditure 2.4B USD · Free cash flow 7.3B USD
2024Fiscal year 2024: Operating cash flow 9.4B USD · Capital expenditure 2.8B USD · Free cash flow 6.7B USD
2025Fiscal year 2025: Operating cash flow 10.6B USD · Capital expenditure 3.4B USD · Free cash flow 7.2B USD
Share count
The share count fell in 5 years by 9.1% (mostly through share repurchases).
Diluted share count
0250M500M750M1B
2016Fiscal year 2016: Diluted share count 861.2M
2017Fiscal year 2017: Diluted share count 815.5M
2018Fiscal year 2018: Diluted share count 785.6M
2019Fiscal year 2019: Diluted share count 764.9M
2020Fiscal year 2020: Diluted share count 750.1M
2021Fiscal year 2021: Diluted share count 751.8M
2022Fiscal year 2022: Diluted share count 741.3M
2023Fiscal year 2023: Diluted share count not available
2024Fiscal year 2024: Diluted share count not available
2025Fiscal year 2025: Diluted share count not available
From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
Dividends and share repurchases
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
Dividend per share
7.17USD · Fiscal year 2025
Dividend growth per year
3 y+8.2%5 y+7.3%10 y+7.6%
Years without a cut
at least 10as far as the data goes
Payout ratio
of earnings60%of free cash flow71%
To shareholders (5 years)
35.3B USD36% through repurchases
Share count over 5 years
−9.1%fewer shares – each share is a larger stake
Dividend per share
The dividend per share rose in 5 years from 5.04 USD to 7.17 USD.
Dividend per shareUSD per sharePer share as filed with the SEC, including special dividends; obvious filing errors are hidden.
02.004.006.008.00
2016Fiscal year 2016: Dividend per share 3.61 USD
2017Fiscal year 2017: Dividend per share 3.83 USD
2018Fiscal year 2018: Dividend per share 4.19 USD
2019Fiscal year 2019: Dividend per share 4.73 USD
2020Fiscal year 2020: Dividend per share 5.04 USD
2021Fiscal year 2021: Dividend per share 5.25 USD
2022Fiscal year 2022: Dividend per share 5.66 USD
2023Fiscal year 2023: Dividend per share 6.23 USD
2024Fiscal year 2024: Dividend per share 6.78 USD
2025Fiscal year 2025: Dividend per share 7.17 USD
Payout ratios
The payout ratio fell in 5 years from 79.9% to 60.0%.
Payout ratio (earnings)Payout ratio (free cash flow)
0%25%50%75%100%
2016Fiscal year 2016: Payout ratio (earnings) 66.4% · Payout ratio (free cash flow) 72.2%
2017Fiscal year 2017: Payout ratio (earnings) 60.1% · Payout ratio (free cash flow) 83.5%
2018Fiscal year 2018: Payout ratio (earnings) 55.6% · Payout ratio (free cash flow) 77.1%
2019Fiscal year 2019: Payout ratio (earnings) 60.0% · Payout ratio (free cash flow) 62.5%
2020Fiscal year 2020: Payout ratio (earnings) 79.9% · Payout ratio (free cash flow) 81.2%
2021Fiscal year 2021: Payout ratio (earnings) 52.3% · Payout ratio (free cash flow) 55.2%
2022Fiscal year 2022: Payout ratio (earnings) 67.9% · Payout ratio (free cash flow) 76.0%
2023Fiscal year 2023: Payout ratio (earnings) 53.9% · Payout ratio (free cash flow) 62.5%
2024Fiscal year 2024: Payout ratio (earnings) 59.5% · Payout ratio (free cash flow) 73.0%
2025Fiscal year 2025: Payout ratio (earnings) 60.0% · Payout ratio (free cash flow) 71.2%
What goes back to shareholders
Over 5 years, 35.3B USD went back to shareholders, 36% of it through share repurchases. That is 105% of the free cash flow of those years.
2016Fiscal year 2016: Dividends paid 3.1B USD · Share repurchases 11.2B USD · New shares issued (including employee plans) not available · Free cash flow 4.2B USD
2017Fiscal year 2017: Dividends paid 3.1B USD · Share repurchases 4.7B USD · New shares issued (including employee plans) not available · Free cash flow 3.7B USD
2018Fiscal year 2018: Dividends paid 3.3B USD · Share repurchases 5.2B USD · New shares issued (including employee plans) not available · Free cash flow 4.2B USD
2019Fiscal year 2019: Dividends paid 3.6B USD · Share repurchases 5.0B USD · New shares issued (including employee plans) not available · Free cash flow 5.7B USD
2020Fiscal year 2020: Dividends paid 3.8B USD · Share repurchases 907.8M USD · New shares issued (including employee plans) not available · Free cash flow 4.6B USD
2021Fiscal year 2021: Dividends paid 3.9B USD · Share repurchases 845.5M USD · New shares issued (including employee plans) not available · Free cash flow 7.1B USD
2022Fiscal year 2022: Dividends paid 4.2B USD · Share repurchases 3.9B USD · New shares issued (including employee plans) not available · Free cash flow 5.5B USD
2023Fiscal year 2023: Dividends paid 4.5B USD · Share repurchases 3.1B USD · New shares issued (including employee plans) not available · Free cash flow 7.3B USD
2024Fiscal year 2024: Dividends paid 4.9B USD · Share repurchases 2.8B USD · New shares issued (including employee plans) not available · Free cash flow 6.7B USD
2025Fiscal year 2025: Dividends paid 5.1B USD · Share repurchases 2.1B USD · New shares issued (including employee plans) not available · Free cash flow 7.2B USD
Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Valuation over time
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users.Log in
Sector comparison
McDonald's next to 8 stocks of the sector Consumer Discretionary we cover that are closest in revenue. Click a column header to sort the table.
Sector comparison MCD, sector Consumer Discretionary; last row: sector median
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Key figures with traffic lights
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 50 symbols in the Consumer Discretionary sector on our list (current members of the S&P 500 and other lists).
Revenue growth
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth
Light yellow: below sector
+7.0%per year, last 5 years
Sector Consumer Discretionary: median +11.0% (49 symbols)
What does this mean? Revenue: over 5 years it grew by 7.0% per year on average, but more slowly than the median company in the sector (+11.0%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
Net income (total)
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth
Light green: above sector
+12.6%per year, last 5 years
Sector Consumer Discretionary: median +10.4% (32 symbols)
per share: +13.6% per year (5 years, split-adjusted)
What does this mean? Total net income: over 5 years it grew by 12.6% per year on average – at least as fast as the median company in the sector (+10.4%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
Sector Consumer Discretionary: median 9.4% (49 symbols)
What does this mean? Of every 100 USD in revenue, 31.85 USD remained as profit – at least as much as the median company in the sector (9.4%). Five years ago the margin was 24.6%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
Debt / equity
Debt-to-equity ratioFinancial debt (loans, bonds) divided by equity. A high value amplifies good and bad years alike. The key figures bar in the chart only uses long-term financial debt.Example: Financial debt €300m, equity €500m → 0.6.More in the Academy: Lesson debt, dividends and growth
Light gray: negative equity
–latest balance sheet
Sector Consumer Discretionary: median 0.82 (31 symbols)
What does this mean? Equity is negative (e.g. due to share buybacks). A debt-to-equity ratio cannot be formed meaningfully then.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
Payout ratio
Payout ratioThe share of profit that a company pays out as a dividend. Above 100% it pays out more than it earns.Example: Dividend €1, earnings per share €2.50 → payout ratio 40%.More in the Academy: Lesson debt, dividends and growth
Light green: covered
60%Dividend / earnings per share
Sector Consumer Discretionary: median 32% (26 symbols)
What does this mean? Of every 1 USD of earnings per share, 0.60 USD went to shareholders as a dividend. The rest stays in the company. Median company in the sector: 32%.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
Profitable years
Profitable yearsHow many of the last fiscal years ended with a profit rather than a loss on the bottom line. The figure shows how consistently a company earns.Example: Profit in 9 of 10 years → one loss year.More in the Academy: Lesson revenue, profit and margin
Light green: profit every year
10 of 10fiscal years with a profit
What does this mean? In 10 of the last 10 fiscal years the bottom line showed a profit. There were no losses in this period.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
Last fiscal year and 13F
Information, not a trading signal · Source: SEC EDGAR
Revenue (FY)
26.9B USD
Revenue vs. prior year
+3.7%
Net income (FY)
8.6B USD
Net income vs. prior year
+4.1%
EPS (FY)
11.95 USD
13F funds with a position
2 of 9
Funds vs. prior quarter
+1
Shares held vs. prior quarter
+1,663.9%
Fiscal year to Dec 31, 2025 · 10-K filed Feb 24, 2026 · Price-based figures (P/E, P/S, dividend yield, market cap) only when logged in. · Values as first reported; debt = reported financial debt (US GAAP: long-term).13F: reporting date Jun 30, 2026, 9 tracked funds have filed (latest Aug 14, 2026), filed with up to 45 days of delay. Stock positions only; comparison with Mar 31, 2026 only across funds that filed for both quarters.
All figures as a table
Fiscal years (amounts in USD, per share in USD)
Year
End
Revenue
Net income
Margin
Earnings per share
Dividend per share
Payout
2025
Dec 31, 2025
26.9B
8.6B
31.9%
11.95
7.17
60%
2024
Dec 31, 2024
25.9B
8.2B
31.7%
11.39
6.78
60%
2023
Dec 31, 2023
25.5B
8.5B
33.2%
11.56
6.23
54%
2022
Dec 31, 2022
23.2B
6.2B
26.6%
8.33
5.66
68%
2021
Dec 31, 2021
23.2B
7.5B
32.5%
10.04
5.25
52%
2020
Dec 31, 2020
19.2B
4.7B
24.6%
6.31
5.04
80%
2019
Dec 31, 2019
21.1B
6.0B
28.6%
7.88
4.73
60%
2018
Dec 31, 2018
21.0B
5.9B
28.2%
7.54
4.19
56%
2017
Dec 31, 2017
22.8B
5.2B
22.8%
6.37
3.83
60%
2016
Dec 31, 2016
24.6B
4.7B
19.0%
5.44
3.61
66%
Quarters (amounts in USD, per share in USD)
Quarter
End
Revenue
Net income
Margin
Earnings per share
Dividend per share
Payout
Q2/26
Jun 30, 2026
7.1B
2.4B
33.3%
3.32
1.86
56%
Q1/26
Mar 31, 2026
6.5B
2.0B
30.4%
2.78
1.86
67%
Q4/25*
Dec 31, 2025
7.0B
2.2B
30.9%
–
1.86
–
Q3/25
Sep 30, 2025
7.1B
2.3B
32.2%
3.18
1.77
56%
Q2/25
Jun 30, 2025
6.8B
2.3B
32.9%
3.14
1.77
56%
Q1/25
Mar 31, 2025
6.0B
1.9B
31.4%
2.60
1.77
68%
Q4/24*
Dec 31, 2024
6.4B
2.0B
31.6%
–
0.00
–
Q3/24
Sep 30, 2024
6.9B
2.3B
32.8%
3.13
3.44
110%
Q2/24
Jun 30, 2024
6.5B
2.0B
31.2%
2.80
1.67
60%
Q1/24
Mar 31, 2024
6.2B
1.9B
31.3%
2.66
1.67
63%
Q4/23*
Dec 31, 2023
6.4B
2.0B
31.8%
–
1.67
–
Q3/23
Sep 30, 2023
6.7B
2.3B
34.6%
3.17
1.52
48%
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
Insiders
Insider transactionsExecutives, directors and major shareholders (over 10%) of US companies report their own transactions in their company’s stock to the SEC within two business days (Form 4). Purchases in the market count as more meaningful than sales (often taxes, estate planning).Example: Three executives acquire stock worth a total of 2 million USD within two weeks → “purchases by several insiders”.More in the Academy: Glossary
Insider purchases and sales on the market over 3, 6 and 12 months
Period
Purchases
Sales
Net
3 months
$00 people
$00 people
$0
6 months
$00 people
$2.4M2 people
−$2.4M
12 months
$00 people
$40.5M8 people
−$40.5M
Latest transactions
Jun 10, 2026Erlinger Joseph M.OfficerOpen-market sale · 10b5-1 plan5,252 shares · $1.5M · SEC
May 28, 2026Ralls-Morrison DesireeOfficerOpen-market sale · 10b5-1 plan2,763 shares · $769.1K · SEC
May 26, 2026Erlinger Joseph M.OfficerOpen-market sale · 10b5-1 plan333 shares · $93.3K · SEC
Apr 23, 2026Erlinger Joseph M.OfficerOpen-market sale · 10b5-1 plan333 shares · $100.8K · SEC
Apr 10, 2026Erlinger Joseph M.OfficerOpen-market sale · 10b5-1 plan2,626 shares · $806.2K · SEC
Mar 23, 2026Erlinger Joseph M.OfficerOpen-market sale · 10b5-1 plan333 shares · $104.4K · SEC
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
Trend score -30
Price vs. EMA 50+15
Price vs. EMA 200-15
EMA 50 vs. EMA 200-20
ADX (trend strength)+15
Highs and lows-10
Relative strength-15
Volatility and trend strength
ADX 14 (trend strength)31.7
Rel. strength 60 d−6.9%
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.