OpenNashEarnings

Restaurants · NYSE: MCD

McDonald's earnings: results, call transcripts & KPI history

2 quarters · fiscal year ends December · next results expected around 10 Feb 2027

Investor relations ↗SEC filings ↗KPIs as CSV

Latest: Q3 2026

McDonald's third quarter 2026: global comparable sales increased 1.5%, Systemwide sales increased 4% to over $38 billion, consolidated operating income increased 7%, and diluted earnings per share was $3.51, an increase of 10%.

McDonald's grew global comparable sales 1.5% and Systemwide sales 4% in constant currency, helped by new restaurant openings. Revenue rose 1% to $7,157 million. Operating income rose 7% and diluted EPS was $3.51, up 10%; excluding restructuring charges, EPS was $3.57. U.S. comparable sales fell 0.2%, but turned positive in September after the company restored digital offers and shifted marketing toward value. International Operated Markets grew 1.4%, with France weak. International Developmental Licensed Markets grew 4.2%.

Read the Q3 2026 summary →

Quarters

KPI history

Revenue$7.2B+1.1% y/yQ3 2026
Q4 2024: $6.4B (worked out from the annual figure)Q4 ’24$6.4BQ1 2025: $6.0BQ1 ’25$6.0BQ2 2025: $6.8BQ2 ’25$6.8BQ3 2025: $7.1BQ3 ’25$7.1BQ4 2025: $7.0B (worked out from the annual figure)Q4 ’25$7.0BQ1 2026: $6.5BQ1 ’26$6.5BQ2 2026: $7.1BQ2 ’26$7.1BQ3 2026: $7.2BQ3 ’26$7.2B

Fourth quarter worked out from the annual figure.

Data
Q4 2024$6.4B *
Q1 2025$6.0B
Q2 2025$6.8B
Q3 2025$7.1B
Q4 2025$7.0B *
Q1 2026$6.5B
Q2 2026$7.1B
Q3 2026$7.2B
Diluted EPS (GAAP)$3.51+10.4% y/yQ3 2026
Q1 2025: $2.60Q1 ’25$2.60Q2 2025: $3.14Q2 ’25$3.14Q3 2025: $3.18Q3 ’25$3.18Q1 2026: $2.78Q1 ’26$2.78Q2 2026: $3.32Q2 ’26$3.32Q3 2026: $3.51Q3 ’26$3.51
Data
Q1 2025$2.60
Q2 2025$3.14
Q3 2025$3.18
Q1 2026$2.78
Q2 2026$3.32
Q3 2026$3.51

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin50.2%+2.8 pts y/yQ3 2026
Q4 2024: 44.9%Q4 ’2444.9%Q1 2025: 44.5%Q1 ’2544.5%Q2 2025: 47.2%Q2 ’2547.2%Q3 2025: 47.4%Q3 ’2547.4%Q4 2025: 45.0%Q4 ’2545.0%Q1 2026: 45.3%Q1 ’2645.3%Q2 2026: 47.0%Q2 ’2647.0%Q3 2026: 50.2%Q3 ’2650.2%
Data
Q4 202444.9%
Q1 202544.5%
Q2 202547.2%
Q3 202547.4%
Q4 202545.0%
Q1 202645.3%
Q2 202647.0%
Q3 202650.2%
Free cash flow$2.1B−11.2% y/yQ3 2026
Q4 2024: $1.8BQ4 ’24$1.8BQ1 2025: $1.9BQ1 ’25$1.9BQ2 2025: $1.3BQ2 ’25$1.3BQ3 2025: $2.4BQ3 ’25$2.4BQ4 2025: $1.6BQ4 ’25$1.6BQ1 2026: $1.7BQ1 ’26$1.7BQ2 2026: $2.0BQ2 ’26$2.0BQ3 2026: $2.1BQ3 ’26$2.1B
Data
Q4 2024$1.8B
Q1 2025$1.9B
Q2 2025$1.3B
Q3 2025$2.4B
Q4 2025$1.6B
Q1 2026$1.7B
Q2 2026$2.0B
Q3 2026$2.1B

Operating cash flow minus capital expenditure, from cash flow statements.

Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Revenue$6.4Bd$6.0B$6.8B$7.1B$7.0Bd$6.5B$7.1B$7.2B
Operating income$2.9Bd$2.6B$3.2B$3.4B$3.2Bd$3.0B$3.3B$3.6B
Operating margin44.9%44.5%47.2%47.4%45.0%45.3%47.0%50.2%
Net income$2.0Bd$1.9B$2.3B$2.3B$2.2Bd$2.0B$2.4B$2.5B
Diluted EPS—$2.60$3.14$3.18—$2.78$3.32$3.51
Operating cash flow$2.6Bd$2.4B$2.0B$3.4B$2.7Bd$2.4B$2.8B$3.0B
Capital expenditure$807.0Md$551.0M$744.0M$1.0B$1.1Bd$682.0M$831.0M$884.0M
Free cash flow$1.8B$1.9B$1.3B$2.4B$1.6B$1.7B$2.0B$2.1B

From XBRL data in 10-Q and 10-K filings. d derived: a fourth quarter is the full year minus the first nine months, and cash flows are year-to-date figures differenced.

10-Q and 10-K filings