McDonald's (MCD) Q3 2025 10-Q Quarterly Report
McDonald's (MCD) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 5, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
McDonald's Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $7.08B Q3 FY25, up 3% YoY ($6.87B Q3 FY24); nine months $19.88B, up 2% YoY ($19.53B)
- • Operating margin 46.5% Q3 FY25 vs 45.3% Q3 FY24; operating income up 5% (3% constant currency) Q3, 4% (3% constant currency) nine months
- • Best segment: International Operated Markets with revenue $3.61B Q3 FY25, up ~10% YoY; worst: Company-owned & operated sales down 3% Q3 and 4% nine months
- • Operating cash flow $7.9B nine months, exceeding capital expenditures by $5.6B; share repurchases $503M Q3, dividends paid $1.26B Q3
- • Outlook: 2025 Systemwide sales growth over 2% from net restaurant expansion; operating margin expected mid-to-high 40% range; capital expenditures $3.0–3.2B with 2,200 global restaurant openings
Risk Factors
- • No material changes to risk factors from most recent 10-K reported
- • Continued exposure to operational risks from global supply chain disruptions and labor costs inflation
- • Ongoing legal risk related to franchisee disputes and compliance with evolving food safety regulations
- • Competitive risk from increased fast-casual and delivery-focused restaurant concepts impacting market share
- • Currency exposure in international markets remains significant, especially fluctuations in the Euro and GBP impacting revenues
McDonald's Q3 2025 Quarterly FinancialsXBRL
Revenue
$7.1B
▲ +3.0% YoY▲ +3.4% QoQ
Net Income
$2.3B
▲ +1.0% YoY▲ +1.1% QoQ
Operating Margin
47.4%
▲ +104bp YoY▲ +20bp QoQ
Net Margin
32.2%
▼ -64bp YoY▼ -74bp QoQ
ROE
-105.3%
Total Assets
$60.6B
EPS (Diluted)
$3.18
▲ +1.6% YoY▲ +1.3% QoQ
Operating Cash Flow
$3.4B
▲ +25.2% YoY▲ +71.6% QoQ
Source: XBRL data from McDonald's Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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