tickertape
← golden set

MCD

MCDONALDS CORPConsumer
10-K for period ending 2025-12-31filed 2026-02-24accession 0000063908-26-000035filing on sec.gov ↗

answer key

fieldSEC valueXBRL conceptprinted on
Total revenue$26.9BRevenuesTotal revenues
Operating income$12.4BOperatingIncomeLossOperating income
Net income attributable to the company$8.6BNetIncomeLossNet income
Diluted EPS$11.95EarningsPerShareDilutedEarnings per common share-diluted
Cash and cash equivalents$774.0MCashAndCashEquivalentsAtCarryingValueCash and equivalents
Total assets$59.5BAssetsTotal assets · Total liabilities and shareholders’ equity (deficit)
Total liabilities-not reportednot in this filing's XBRL
Total shareholders' equity attributable to the company-$1.8BStockholdersEquityTotal shareholders’ equity (deficit)
Net cash from operating activities$10.6BNetCashProvidedByUsedInOperatingActivitiesCash provided by operations
Net cash from investing activities-$3.8BNetCashProvidedByUsedInInvestingActivitiesCash used for investing activities
Net cash from financing activities-$7.1BNetCashProvidedByUsedInFinancingActivitiesCash used for financing activities

Income statement

table #33 · score 51.3 vs 28.3 runner-up · in millions
In millions, except per share dataYears ended December 31, 202520242023
REVENUES
Revenues from franchised restaurants16,54815,71515,437
Sales by Company-owned and operated restaurants9,6909,7829,742
Other revenues647423316
Total revenues26,88525,92025,494
OPERATING COSTS AND EXPENSES
Franchised restaurants-occupancy expenses2,6182,5362,475
Company-owned and operated restaurant expenses
Food & paper3,0062,9953,039
Payroll & employee benefits2,9052,9592,886
Occupancy & other operating expenses2,3582,3812,299
Other restaurant expenses564339232
Selling, general & administrative expenses
Depreciation and amortization457447382
Other2,5832,4122,435
Other operating (income) expense, net213999
Total operating costs and expenses14,49214,20813,847
Operating income12,39311,71211,647
Interest expense-net of capitalized interest of $29, $22 and $141,5821,5061,361
Nonoperating (income) expense, net(87)(139)(236)
Income before provision for income taxes10,89710,34510,522
Provision for income taxes2,3342,1212,053
Net income8,5638,2238,469
Earnings per common share-basic12.0011.4511.63
Earnings per common share-diluted11.9511.3911.56
Dividends declared per common share7.176.786.23
Weighted-average shares outstanding-basic713.4718.3727.9
Weighted-average shares outstanding-diluted716.4721.9732.3

Balance sheet

table #35 · score 53.8 vs 19.3 runner-up · in millions
In millions, except per share dataDecember 31, 20252024
ASSETS
Current assets
Cash and equivalents7741,085
Accounts and notes receivable2,4662,383
Inventories, at cost, not in excess of market6156
Prepaid expenses and other current assets8631,074
Total current assets4,1634,599
Other assets
Investments in and advances to affiliates2,8202,710
Goodwill3,3543,145
Miscellaneous6,3316,095
Total other assets12,50511,950
Lease right-of-use asset, net14,60613,339
Property and equipment
Property and equipment, at cost49,29044,177
Accumulated depreciation and amortization(21,049)(18,882)
Net property and equipment28,24125,295
Total assets59,51555,182
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)
Current liabilities
Accounts payable1,1491,029
Lease liability694636
Income taxes250361
Other taxes247224
Accrued interest533482
Accrued payroll and other liabilities1,4881,129
Total current liabilities4,3613,861
Long-term debt39,97338,424
Long-term lease liability14,14712,888
Long-term income taxes139344
Deferred revenues - initial franchise fees945778
Other long-term liabilities704771
Deferred income taxes1,0381,914
Shareholders’ equity (deficit)
Preferred stock, no par value; authorized - 165.0 million shares; issued - none--
Common stock, $0.01 par value; authorized - 3.5 billion shares; issued - 1,660.6 million shares1717
Additional paid-in capital9,6419,281
Retained earnings70,28266,834
Accumulated other comprehensive income (loss)(2,414)(2,553)
Common stock in treasury, at cost; 950.0 and 945.4 million shares(79,316)(77,375)
Total shareholders’ equity (deficit)(1,791)(3,797)
Total liabilities and shareholders’ equity (deficit)59,51555,182

Cash flow statement

table #36 · score 53.3 vs 9.3 runner-up · in millions
In millionsYears ended December 31, 202520242023
Operating activities
Net income8,5638,2238,469
Adjustments to reconcile to cash provided by operations
Charges and credits:
Depreciation and amortization2,1992,0971,978
Deferred income taxes(126)(574)(686)
Share-based compensation165172175
Net (gain) loss on sale of restaurant and other businesses(149)(37)(103)
Other(207)3(113)
Changes in working capital items:
Accounts receivable23110(161)
Inventories, prepaid expenses and other current assets(140)7117
Accounts payable100(10)50
Income taxes(239)(292)(220)
Other accrued liabilities154(217)206
Cash provided by operations10,5519,4479,612
Investing activities
Capital expenditures(3,365)(2,775)(2,357)
Purchases of restaurant businesses(354)(669)(441)
Purchases of equity method investments-(1,837)-
Sales of restaurant and other businesses346311195
Sales of property13012295
Other(579)(498)(676)
Cash used for investing activities(3,822)(5,346)(3,185)
Financing activities
Net short-term borrowings6326213
Long-term financing issuances4,7242,3805,221
Long-term financing repayments(4,802)(2,777)(2,441)
Treasury stock purchases(2,056)(2,824)(3,054)
Common stock dividends(5,115)(4,870)(4,533)
Proceeds from stock option exercises285328260
Other(167)(56)(40)
Cash used for financing activities(7,125)(7,495)(4,374)
Effect of exchange rates on cash and equivalents86(101)(58)
Cash and equivalents increase (decrease)(311)(3,494)1,996
Cash and equivalents at beginning of year1,0854,5792,584
Cash and equivalents at end of year7741,0854,579
Supplemental cash flow disclosures
Interest paid1,5551,5231,287