McDonald's (MCD) FY2025 10-K Annual Report

Filed: Feb 24, 2026
Consumer Discretionary
Retail-Eating PlacesSEC EDGAR

McDonald's (MCD) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 24, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

McDonald's FY2025 10-K Analysis

Business Overview

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Management Discussion & Analysis

  • Revenue $26.9B, up 4% YoY (2% constant currency); franchised revenues $16.5B up 5%, Company-owned sales $9.7B down 1%
  • Operating margin 46.1% vs 45.2% in 2024; non-GAAP operating margin 46.9% vs 46.3%
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Risk Factors

  • EU AI Act and U.S. state-level AI regulations creating compliance obligations around transparency, bias mitigation, and explainability for McDonald's expanding AI deployments
  • Governmental trade tariffs, sanctions, and foreign exchange controls across 100+ countries exposing System to supply disruption and anti-American sentiment-driven demand loss
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McDonald's FY2025 Key Financial Metrics
XBRL

Revenue

$26.9B

+3.7% YoY

Net Income

$8.6B

+4.1% YoY

Operating Margin

46.1%

+91bp YoY

Net Margin

31.9%

+13bp YoY

ROE

-478.1%

-26155bp YoY

Total Assets

$59.5B

+7.9% YoY

EPS (Diluted)

$11.95

+4.9% YoY

Operating Cash Flow

$10.6B

+11.7% YoY

Source: XBRL data from McDonald's FY2025 10-K filing on SEC EDGAR. All figures in USD.

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