McDonald's Corporation income statement & cash flow
In the fiscal year ended Dec 31, 2025, McDonald's Corporation reported net income of $8.56B on revenue of $26.89B. Operating cash flow was $10.55B and capital expenditures were $3.37B, leaving $7.19B of free cash flow (operating cash flow minus capital expenditures).
Income statement and cash flow summary
| Fiscal year ended | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $24.62B | $22.82B | $21.26B | $21.36B | $19.21B | $23.22B | $23.18B | $25.49B | $25.92B | $26.89B |
| Operating income | $7.74B | $9.55B | $8.82B | $9.07B | $7.32B | $10.36B | $9.37B | $11.65B | $11.71B | $12.39B |
| Net income | $4.69B | $5.19B | $5.92B | $6.03B | $4.73B | $7.55B | $6.18B | $8.47B | $8.22B | $8.56B |
| Diluted EPS | $5.44 | $6.37 | $7.54 | $7.88 | $6.31 | $10.04 | $8.33 | $11.56 | $11.39 | $11.95 |
| Operating cash flow | $6.06B | $5.55B | $6.97B | $8.12B | $6.27B | $9.14B | $7.39B | $9.61B | $9.45B | $10.55B |
| Capital expenditures | $1.82B | $1.85B | $2.74B | $2.39B | $1.64B | $2.04B | $1.90B | $2.36B | $2.77B | $3.37B |
| Reported in | 10-K 2019 | 10-K 2020 | 10-K 2021 | 10-K 2022 | 10-K 2023 | 10-K 2024 | 10-K 2025 | 10-K 2026 | 10-K 2026 | 10-K 2026 |
Margins
Each figure divided by revenue for the same fiscal year.
| Fiscal year ended | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| Dec 2025 | — | 46.1% | 31.9% |
| Dec 2024 | — | 45.2% | 31.7% |
| Dec 2023 | — | 45.7% | 33.2% |
| Dec 2022 | — | 40.4% | 26.6% |
| Dec 2021 | — | 44.6% | 32.5% |
Source: SEC EDGAR XBRL company facts for CIK 63908 (raw data). Most recent filing in this dataset: 10-Q filed Aug 7, 2026. SEC data file dated Nov 3, 2026; page built Nov 5, 2026. Figures are as most recently reported, including restatements. How we select figures.