McDonald's
Franchises Golden Arches restaurants serving burgers, chicken, breakfast and McCafé drinks worldwide.
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Profile
Franchises and operates quick-service restaurants worldwide, serving burgers, chicken, breakfast, fries, desserts and McCafé drinks. Most revenue comes from sales-linked rent, royalties and fees paid by a network in which nearly all restaurants are run by independent operators.
Franchises and operates quick-service restaurants across the U.S., International Operated Markets and International Developmental Licensed Markets. Menus center on Big Mac and Quarter Pounder burgers, Chicken McNuggets and McCrispy, breakfast, fries, desserts, coffee and McCafé beverages, with local variations.
Uses company-operated restaurants to test products, pricing and operating standards before wider franchise adoption. Current priorities under McDonald’s > NEXT emphasize food and beverages, value, hospitality, convenience and restaurant economics across digital, delivery and drive-thru channels.
Conventional franchisees pay rent and sales-linked royalties, while developmental licensees provide their own capital and real estate and pay royalties. Nearly all restaurants are franchised, making system performance dependent on independent operators, suppliers, food safety and local labor, franchising and property rules.
Company facts
Categories
Key statistics
Year to date −12.6% · Average volume (30d) 4.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 26, 2026 | Argus Research | Target | $380 | $310 | |
| Aug 5, 2026 | Guggenheim | Target | $320 | $290 | |
| Aug 5, 2026 | Bernstein | Reiterate | Market Perform | $340 | $295 |
| Aug 5, 2026 | UBS | Target | $340 | $305 | |
| Aug 5, 2026 | Morgan Stanley | Target | $322 | $319 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $3.32 | $3.38 | +1.8% | $7.13B | $7.10B | −0.4% | +1.17% |
| May 7, 2026Q1 FY26 | $2.74 | $2.83 | +3.3% | $6.47B | $6.52B | +0.7% | −2.80% |
| Feb 11, 2026Q4 FY25 | $3.05 | $3.12 | +2.3% | $6.84B | $7.01B | +2.5% | +2.74% |
| Nov 5, 2025Q3 FY25 | $3.33 | $3.22 | −3.3% | $7.08B | $7.08B | −0.1% | −2.38% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $5.96B | $6.84B | $7.08B | $7.01B | $6.52B | $7.10B | |
| Gross profit | $3.34B | $3.96B | $4.11B | $4.03B | $3.64B | $4.12B | |
| Operating income | $2.65B | $3.23B | $3.36B | $3.16B | $2.88B | $3.30B | |
| Net income | $1.87B | $2.25B | $2.28B | $2.16B | $1.98B | $2.36B | |
| Diluted EPS | $2.60 | $3.14 | $3.18 | $3.03 | $2.78 | $3.32 | |
| Gross margin | 56.0% | 57.9% | 58.0% | 57.5% | 55.9% | 58.0% | |
| Operating margin | 44.5% | 47.2% | 47.4% | 45.0% | 44.3% | 46.5% |
Fiscal years (4-quarter sums)FY21 $23.22B · FY22 $23.18B · FY23 $25.49B · FY24 $25.92B · FY25 $26.89B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $822.0M · Total debt $54.59B · Total assets $59.92B · Shareholders' equity −$1.02B
Dividends
Raised for 48 straight years — most recently to $1.86 from $1.77 in Dec 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 2, 2026 | Jun 2 | Jun 16 | $1.86 | |
| Mar 3, 2026 | Mar 3 | Mar 17 | $1.86 | |
| Dec 1, 2025 | Dec 1 | Dec 15 | $1.86 | raised from $1.77 |
| Sep 2, 2025 | Sep 2 | Sep 16 | $1.77 | |
| Jun 2, 2025 | Jun 2 | Jun 16 | $1.77 | |
| Mar 3, 2025 | Mar 3 | Mar 17 | $1.77 | |
| Dec 2, 2024 | Dec 2 | Dec 16 | $1.77 | raised from $1.67 |
| Sep 3, 2024 | Sep 3 | Sep 17 | $1.67 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 710.51M · Float 709.48M · 99.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 55.44M | 7.80% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 46.40M | 6.53% | 13F | Aug 13, 2026 |
| State Street Corporation | 36.12M | 5.10% | 13G | Aug 7, 2026 |
| JPMorgan Chase & Co | 31.92M | 4.49% | 13F | Aug 12, 2026 |
| Vanguard Portfolio Management LLC | 18.78M | 2.64% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 10, 2026 | Joseph M. Erlinger | officer: President, McDonald's USA | −5,252 | $284.32 |
| May 28, 2026 | Desiree Ralls-Morrison | officer: EVP, Chief Legal Officer | −2,763 | $278.36 |
| May 26, 2026 | Joseph M. Erlinger | officer: President, McDonald's USA | −333 | $280.11 |
| Apr 23, 2026 | Joseph M. Erlinger | officer: President, McDonald's USA | −333 | $302.72 |
| Apr 10, 2026 | Joseph M. Erlinger | officer: President, McDonald's USA | −2,626 | $307.00 |
Peers
- Restaurant Brands International
Burger King, Tim Hortons, Popeyes — burgers, coffee, and chicken globally.
- Yum! Brands
KFC, Taco Bell, Pizza Hut — chicken, value QSR, and global franchise scale.
- Starbucks
World's largest coffeehouse chain and McCafé's most direct premium-coffee rival.
- Chipotle Mexican Grill
Fast-casual leader pulling QSR lunch/dinner traffic with fresh-ingredient value.
- Wendy's
No. 3 U.S. burger QSR chain, contesting value meals, drive-thru, and breakfast.
- Domino's Pizza
Digital-delivery QSR pioneer contesting dinner occasions and delivery platform.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| McDonald's | $265.11 | +0.04% | $188.28B | 21.5 | 20.0 | 6.8 | +3.7% |
| 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% |
| Starbucks | $108.15 | +0.30% | $122.95B | 62.0 | 36.0 | 3.2 | −1.4% |
| Chipotle Mexican Grill | $38.00 | −0.08% | $48.78B | 34.9 | 30.0 | 3.9 | +9.3% |
| Wendy's | $8.22 | −0.48% | $1.58B | 12.5 | 16.2 | 0.7 | +1.7% |
| Domino's Pizza | $348.74 | −0.38% | $11.58B | 19.9 | 17.3 | 2.3 | +4.3% |
| Median | 21.5 | 20.6 | 3.0 | +4.4% |