Arcos Dorados
Operates and sub-franchises McDonald's restaurants across Latin America and the Caribbean.
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Profile
Operates and sub-franchises McDonald's restaurants across 21 Latin American and Caribbean markets. The business is organized around Brazil, North Latin America, and Spanish-Language Latin America under master franchise agreements with McDonald's.
Operates and sub-franchises McDonald's restaurants across Latin America and the Caribbean through Brazil, North Latin America (NOLAD), and Spanish-Language Latin America (SLAD). It holds exclusive rights for the brand in 21 countries and territories, making it the world's largest independent McDonald's franchisee.
Restaurant operations, food, and people are the company's stated strategy pillars. Brazil contains roughly half of the restaurant base, while NOLAD and SLAD provide the rest of the regional footprint. The business depends on Master Franchise Agreements with McDonald's, which govern the right to operate and sub-franchise the brand in its territories.
Company facts
Categories
Key statistics
Year to date +9.7% · Average volume (30d) 1.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 17, 2026 | JP Morgan | Upgrade | Neutral | Overweight | ||
| Apr 19, 2026 | Banco Santander | Target | $14 | |||
| Apr 8, 2026 | Goldman Sachs | Target | $14.30 | $9.05 | ||
| Nov 3, 2025 | Banco Bradesco BBI S.A | Downgrade | Outperform | Neutral | ||
| Jul 2, 2025 | JP Morgan | Downgrade | Overweight | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 13, 2026Q2 FY26 | $0.15 | $0.22 | +49.2% | $1.28B | $1.31B | +2.1% | +3.04% |
| May 20, 2026Q1 FY26 | $0.11 | $0.17 | +54.5% | $1.21B | $1.22B | +0.5% | +0.77% |
| Mar 19, 2026Q4 FY25 | $0.20 | −$0.04 | −119.7% | $1.26B | $1.27B | +0.3% | +0.13% |
| Nov 12, 2025Q3 FY25 | $0.10 | $0.12 | +20.0% | $1.26B | $1.19B | −5.5% | −3.43% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.08B | $1.14B | $1.19B | $1.27B | $1.22B | $1.31B | |
| Gross profit | $119.7M | $132.0M | $141.9M | $180.5M | $133.6M | $157.4M | |
| Operating income | $45.1M | $62.5M | $147.2M | $95.4M | $56.9M | $77.0M | |
| Net income | $13.9M | $22.6M | $150.4M | $25.2M | $36.1M | $45.0M | |
| Diluted EPS | $0.07 | $0.11 | $0.71 | $0.12 | $0.17 | $0.21 | |
| Gross margin | 11.1% | 11.6% | 11.9% | 14.2% | 11.0% | 12.1% | |
| Operating margin | 4.2% | 5.5% | 12.3% | 7.5% | 4.7% | 5.9% |
Fiscal years (4-quarter sums)FY21 $2.66B · FY22 $3.62B · FY23 $4.33B · FY24 $4.47B · FY25 $4.68B
Revenue by product · FY25
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $270.0M · Total debt $2.20B · Total assets $3.89B · Shareholders' equity $831.1M
Dividends
Raised for 3 straight years — most recently to $0.07 from $0.06 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 22, 2026 | Jun 22 | Jun 26 | $0.07 | |
| Mar 30, 2026 | Mar 30 | Apr 2 | $0.07 | raised from $0.06 |
| Dec 22, 2025 | Dec 22 | Dec 26 | $0.06 | |
| Sep 23, 2025 | Sep 23 | Sep 26 | $0.06 | |
| Jun 24, 2025 | Jun 24 | Jun 27 | $0.06 | |
| Mar 24, 2025 | Mar 24 | Mar 27 | $0.06 | |
| Dec 23, 2024 | Dec 23 | Dec 27 | $0.06 | |
| Sep 24, 2024 | Sep 24 | Sep 27 | $0.06 |
Ownership
Shares outstanding 210.66M · Float 195.20M · 92.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Lazard Asset Management LLC | 24.69M | 18.90% | 13G | Aug 14, 2026 |
| Pzena Investment Management LLC | 10.80M | 5.13% | 13F | Aug 7, 2026 |
| Fideicomiso de Administracion con Derecho de Reversion Identificado con el Numero F/3871 | 8.80M | 6.73% | 13G | Feb 4, 2025 |
| College Retirement Equities Fund-Stock Account | 6.55M | 5.01% | 13G | May 7, 2025 |
| SPX Gestao de Recursos Ltda | 4.50M | 2.14% | 13F | Aug 19, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 24, 2026 | Artigas Carlos Hernandez | director | −17,843 | $8.15 |
| Aug 25, 2026 | Artigas Carlos Hernandez | director | −14,500 | $8.06 |
| May 28, 2026 | Artigas Carlos Hernandez | director | −20,000 | $9.01 |
Peers
- Restaurant Brands International
Burger King and Popeyes franchises contest regional QSR traffic
- Yum! Brands
KFC and Taco Bell contest chicken and QSR meal occasions
- Domino's Pizza
Delivery pizza contests quick-service meal and digital-order occasions
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Arcos Dorados | $8.00 | 0.00% | $1.69B | 6.6 | 10.3 | 0.3 | +14.3% |
| Restaurant Brands International | $78.50 | +0.29% | $27.15B | 23.1 | 18.5 | 2.8 | +4.6% |
| Yum! Brands | $153.86 | 0.00% | $42.41B | 19.3 | 22.6 | 4.9 | +12.2% |
| Domino's Pizza | $348.74 | −0.38% | $11.58B | 19.9 | 17.3 | 2.3 | +4.3% |
| Median | 19.9 | 18.5 | 2.8 | +4.6% |