📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

📊 Sector Averages

About

McDonald's Corporation owns, operates, and franchises restaurants under the McDonald’s brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, frozen desserts, sundaes, soft serve cones, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions. The company owns and operates franchised restaurants under various structures, including conventional franchise, developmental license, or affiliate. McDonald's Corporation was founded in 1940 and is based in Chicago, Illinois.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

See full financials →

📊 Quick Scorecard

Loading…

⭐ Superinvestors Holding MCD

View All Superinvestors →

Manager	Shares	Value	% of Fund	Period
Andreas Halvorsen Viking Global Investors	3.63M	$1.1B	3.15%	Mar 2026
Jim Simons Renaissance Technologies LLC	542.8K	$168.7M	0.26%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Mixed → Stable 5 quarters analysed

Q2 2025

Mixed

Management expresses confidence in global performance (6% systemwide sales growth, positive guest counts) but is cautious about the U.S. consumer, especially low-income, and acknowledges industry headwinds. Language like 'we remain cautious' and 'challenging backdrop' tempers the positive results.

Q3 2025

Mixed

Management expresses confidence in execution ('solid results', 'pleased with progress', 'on track') while repeatedly acknowledging a challenging consumer environment ('cautious', 'pressures will continue well into 2026', 'inflation proving sticky'). The tone balances optimism about strategic initiatives (EVM relaunch, beverage test) with realism about macro headwinds.

Q4 2025

Confident Specific

Management used phrases like 'strong momentum', 'solid foundation', 'delivered solid growth', and 'exceeded our expectations' while citing specific quantitative achievements (e.g., global comp sales +5.7%, U.S. comps +6.8%, 210M loyalty active users). The tone was assured but grounded in data.

Q1 2026

Confident Specific

Management repeatedly cited precise metrics (global comps +3.8%, U.S. +3.9%, IOM +3.9%, IDL +3.4%) and claimed market share gains in 'nearly all of our top 10 markets'. They used language like 'we win', 'outstanding execution', and 'we are not going to get beat on value', while also explicitly acknowledging U.S. company-operated margins as 'not acceptable' and April comps as 'slightly negative' due to the Minecraft lap.

Q2 2026 latest

Mixed

Management admitted U.S. execution was 'below expectations' and called the Q2 value misstep a 'bad trade,' while also expressing confidence in the long-term strategy ('we will not get beaten on value', 'Next is now'). The tone is measured and somewhat cautious — full-year FX guidance was cut and the 50,000-restaurant target was pushed back — but not defensive or evasive.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment case is roughly unchanged at the strategic level, but near-term execution risk in the U.S. has clearly increased. Management's admission that Q2 U.S. comps missed due to a self-inflicted 'bad trade' on value and too many restaurant deployments points to fixable operational issues, yet July comps were already slightly negative, suggesting recovery will take time. The strong international performance and early beverage platform results provide a credible offset and support the 'playbook works' narrative. Watch for: speed of U.S. franchisee alignment on value, whether marketing calendar simplification holds, and further detail on McDonald's > NEXT at the September Investor Day — especially self-funding assumptions.

AI-generated concall tone analysis · Updated 2026-08-14 · Not investment advice

🔒

Premium Feature

AI-generated 10-section company profile — business model, financials, strengths, risks & management quality

Upgrade to Premium

Already a member? Log in

📐

3-Statement Financial Model

Bear / Base / Bull projections · DCF fair value · Reverse-DCF

Open Model →

🎙 Management Tone Mixed → Stable 5 quarters Full tone analysis in Intelligence →

Mixed quarter Investor Presentation One-Pager? Q2 2026

Revenue

$7.1B

+4% YoY (2% cc)

Operating Income

$3.3B

+3% YoY

Operating Margin

47.0%

-0.2pp YoY

Net Income

$2.4B

+5% YoY

What Went Right

Global comparable sales grew +1.3% with all segments positive; IOM +1.5% led by Germany, Australia, and U.K., and IDL +1.9%.
Systemwide sales grew 4% in constant currency to ~$37B, and loyalty base reached nearly 220M active users.
New beverage platform beat expectations in lead markets; U.S. beverage sales ahead of plan with higher guest checks and food attachment.

What to Watch

U.S. comps slowed to +0.8%, below expectations; only ~60-65% of franchisees executed the EDAP pricing architecture, and removing digital offers/Buy One Add One drove about two-thirds of the traffic shortfall.
FIFA campaign underperformed; too many deployments overwhelmed restaurant teams, pushing service times up and satisfaction scores down.
U.S. comps were slightly negative in July, and the 50,000-restaurant target was pushed from 2027 to 2028; FY FX tailwind was cut to ~$0.15 from $0.20-$0.30.

Management Guidance

No explicit Q3 revenue guidance; management expects IOM and IDL comps to accelerate sequentially in Q3 on a one-year and two-year stack basis.
U.S. comps were slightly negative in July as execution issues extended into early Q3.
Full-year 2026 FX translation now expected to add ~$0.15 to adjusted EPS, down from prior estimate of $0.20-$0.30.
G&A targeted at ~2.2% of systemwide sales for full-year 2026; expects G&A percent to decline beginning in 2027.
On track to open ~2,600 gross restaurants in 2026; 50,000-restaurant milestone now expected in 2028.

Investor Lens

The long-term growth story remains supported by ~220M loyalty users, an early beverage platform beat, and solid international performance across IOM and IDL. Near-term the thesis is weaker: U.S. execution missteps, a negative July comp, and the delayed 50,000-restaurant target point to slower momentum. The appointment of Skye Anderson plus operational simplification, restored digital offers, and marketing reallocation should help, but recovery timing is uncertain. Net, the case is mixed with U.S. baseline traffic recovery as the key swing factor.

From investor presentation · AI-generated analysis · Not investment advice

🔒

Premium Feature

Investor Presentation One-Pager — quarterly highlights, what went right/wrong & management guidance

Upgrade to Premium

Already a member? Log in

📊 MIXED Global comps +1.3%, but U.S. execution issues cloud Q2.

Revenue

Consolidated revenue rose 4% YoY to $7.10B (2% in constant currency), with global systemwide sales up 4% in constant currency to ~$37B. Comps were positive across all segments: U.S. +0.8%, IOM +1.5%, IDL +1.9%.

Profitability

Reported net income was $2.36B, up 5% YoY, and GAAP diluted EPS was $3.32 versus $3.14. Adjusted EPS was $3.38, up 5% in constant currency, including a $0.03 FX benefit; operating income rose 3% to $3.34B.

Margins

Q2 reported operating margin was approximately 47.0% (operating income of $3.34B on revenue of $7.10B), versus ~47.2% a year ago. Year-to-date adjusted operating margin was 46.9%, with higher sales-driven franchised margins partly offset by higher SG&A; G&A remained on track at ~2.2% of systemwide sales.

Balance Sheet

No explicit balance sheet metrics such as cash, debt, or free cash flow were disclosed; Q2 restaurant margins generated more than $4B. Management reiterated disciplined capital allocation to new restaurants and continued refranchising.

Key Risks

Management flagged inconsistent U.S. execution across franchisees—EDAP pricing adherence was only 60-65%, and removing digital offers/BOAO hurt loyalty traffic. Near-term U.S. comps were slightly negative in July; China's macro environment remains challenging, France remains below expectations, and the 50,000-restaurant milestone was pushed from 2027 to 2028 due to inflation and consumer pressure.

Outlook

FY 2026 FX translation is now expected to add ~$0.15 to adjusted EPS, down from $0.20-$0.30. IOM and IDL comps are expected to accelerate sequentially in Q3, while U.S. actions aim to rebuild baseline traffic and exit 2026 stronger.

Generated by AI · Q2 2026 results · Not investment advice

🔒

Free Account Required

Create a free Finmagine account to access Finmagine™ Scorecard.

See how this company scores across 5 dimensions — Financial Health, Growth Prospects, Competitive Position, Management Quality, and Valuation — powered by 30+ computed ratios.

Create Free Account Log In

🔒

Premium Feature

Upgrade to Finmagine Premium to unlock Ask AI.

Get 25 expert AI analysis templates — Business KPIs, Comprehensive, Forensic Governance, Peer Comparison, Risk-Reward, Full Research Report, IPO Decoder, Red Flag Detector, and more — ready to paste into ChatGPT, Claude, Gemini, or Perplexity.

Upgrade to Premium Create Free Account

🔒

Premium Feature

Upgrade to Finmagine Premium to unlock Peer Comparison.

Compare this company side-by-side against its sector peers with financial metrics, ratio benchmarking, and relative performance across all key dimensions.

Upgrade to Premium Create Free Account

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

🔍

🔎 See cross-company document search → ?

📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-04

Systemwide sales grew 4% in Q2, with global comparable sales up 1.3% and U.S. comps rising 0.8% amid execution challenges. Adjusted EPS increased 5% year-over-year, and new beverage launches outperformed expectations. U.S. operational improvements and marketing adjustments are underway.

Q1 2026 Q1 2026 2026-05-07

Global comparable sales rose 3.8% year-over-year, driven by disciplined execution in value, marketing, and menu innovation, with strong results in the U.S., U.K., Germany, and Australia. Despite inflationary pressures and a challenging macro environment, full-year guidance is reaffirmed and new product launches are expected to sustain momentum.

Q4 2025 Q4 2025 2026-02-11

System-wide sales grew 5.5% in 2025, with strong comp sales and accelerated new restaurant openings. Adjusted operating margin reached 46.9%, and the loyalty program nearly doubled active users. 2026 guidance includes higher CapEx, continued margin expansion, and robust innovation.

Q3 2025 Q3 2025 2025-11-05

Global comparable sales rose over 3.5% year-over-year, with strong international performance and continued U.S. growth driven by value initiatives and menu innovation. Margins remain pressured by inflation, especially in beef, but digital engagement and disciplined capital allocation support long-term growth.

Q2 2025 Q2 2025 2025-08-06

Global sales and guest counts grew, led by strong value platforms and menu innovation, despite persistent industry headwinds and inflation. U.S. and international markets saw positive comp sales, with technology and digital engagement driving future growth.

🔒

Premium Feature

Upgrade to Finmagine Premium to unlock Catalyst Timeline.

Every result, order win, insider trade, ECS update, earnings-call, and SEC announcement for this company — in one chronological lane.

Upgrade to Premium Create Free Account

🔒

Premium Feature

Upgrade to Finmagine Premium to unlock Full Report.

Read the complete Finmagine™ investment research report — comprehensive fundamental analysis, business model assessment, competitive positioning, and investment recommendation.

Upgrade to Premium Create Free Account

📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

🎯

Discover Our Proven Investment Framework Learn how we analyze and rank stocks using advanced quantitative models, multi-dimensional scoring systems, and dynamic discriminatory ranking techniques that have guided successful investment decisions across market cycles.

📊 Explore The Finmagine™ Methodology

A comprehensive, bias-free framework for analyzing and ranking stocks by Financial Strength, Growth Potential, Competitive Edge, Management Quality, and Value.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This analysis may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. Finmagine does not undertake any obligation to update such statements in the future.

Limitation of Liability:
The content is provided "as is" without any warranties, express or implied. Finmagine expressly disclaims any liability for errors, omissions, or any losses incurred as a result of reliance on the information provided. Readers assume full responsibility for their investment decisions.