McDonalds Corp (MCD) stock
MCDNYSERetail-Eating PlacesFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 6, 2026Score 16/30100% below fair value
$274.80−7.37 (-2.61%)
Close on Nov 11, 2026Market cap $194.46BP/E –Yield 2.61%
McDonalds operating margin
Operating margin is operating income as a percentage of revenue.
McDonalds's operating margin for the twelve months ending Sep 30, 2026 was 46.9%. For fiscal 2025 it was 46.1%, against 45.2% the year before. The highest annual figure on record is 46.1% in fiscal 2025.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 46.1% | +0.9 |
| FY2024 | Dec 31, 2024 | 45.2% | −0.5 |
| FY2023 | Dec 31, 2023 | 45.7% | +5.3 |
| FY2022 | Dec 31, 2022 | 40.4% | −4.2 |
| FY2021 | Dec 31, 2021 | 44.6% | +6.5 |
| FY2020 | Dec 31, 2020 | 38.1% | −4.3 |
| FY2019 | Dec 31, 2019 | 42.5% | +1.0 |
| FY2018 | Dec 31, 2018 | 41.5% | −0.4 |
| FY2017 | Dec 31, 2017 | 41.9% | +10.4 |
| FY2016 | Dec 31, 2016 | 31.5% | +3.3 |
| FY2015 | Dec 31, 2015 | 28.1% | −0.9 |
| FY2014 | Dec 31, 2014 | 29.0% | −2.2 |
| FY2013 | Dec 31, 2013 | 31.2% | −0.0 |
| FY2012 | Dec 31, 2012 | 31.2% | −0.4 |
| FY2011 | Dec 31, 2011 | 31.6% | +0.5 |
| FY2010 | Dec 31, 2010 | 31.0% | +1.0 |
| FY2009 | Dec 31, 2009 | 30.1% | +2.7 |
| FY2008 | Dec 31, 2008 | 27.4% | +10.4 |
| FY2007 | Dec 31, 2007 | 17.0% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 50.2% | +2.8 |
| Q2 FY2026 | Jun 30, 2026 | 47.0% | −0.2 |
| Q1 FY2026 | Mar 31, 2026 | 45.3% | +0.9 |
| Q4 FY2025 | Dec 31, 2025 | 45.0% | +0.1 |
| Q3 FY2025 | Sep 30, 2025 | 47.4% | +1.0 |
| Q2 FY2025 | Jun 30, 2025 | 47.2% | +2.2 |
| Q1 FY2025 | Mar 31, 2025 | 44.5% | +0.1 |
| Q4 FY2024 | Dec 31, 2024 | 44.9% | +1.2 |
| Q3 FY2024 | Sep 30, 2024 | 46.4% | −1.6 |
| Q2 FY2024 | Jun 30, 2024 | 45.0% | −2.8 |
| Q1 FY2024 | Mar 31, 2024 | 44.4% | +1.4 |
| Q4 FY2023 | Dec 31, 2023 | 43.7% | +0.2 |
| Q3 FY2023 | Sep 30, 2023 | 47.9% | +0.9 |
| Q2 FY2023 | Jun 30, 2023 | 47.8% | +17.8 |
| Q1 FY2023 | Mar 31, 2023 | 42.9% | +2.1 |
| Q4 FY2022 | Dec 31, 2022 | 43.6% | +3.7 |
| Q3 FY2022 | Sep 30, 2022 | 47.1% | −1.1 |
| Q2 FY2022 | Jun 30, 2022 | 29.9% | −15.8 |
| Q1 FY2022 | Mar 31, 2022 | 40.8% | −3.7 |
| Q4 FY2021 | Dec 31, 2021 | 39.9% | −0.4 |
| Q3 FY2021 | Sep 30, 2021 | 48.2% | +1.5 |
| Q2 FY2021 | Jun 30, 2021 | 45.7% | +20.2 |
| Q1 FY2021 | Mar 31, 2021 | 44.5% | +8.6 |
| Q4 FY2020 | Dec 31, 2020 | 40.3% | −2.5 |
| Q3 FY2020 | Sep 30, 2020 | 46.6% | +2.8 |
| Q2 FY2020 | Jun 30, 2020 | 25.6% | −16.5 |
| Q1 FY2020 | Mar 31, 2020 | 35.9% | −5.8 |
| Q4 FY2019 | Dec 31, 2019 | 42.9% | +4.1 |
| Q3 FY2019 | Sep 30, 2019 | 43.8% | −1.2 |
| Q2 FY2019 | Jun 30, 2019 | 42.0% | −0.2 |
| Q1 FY2019 | Mar 31, 2019 | 41.7% | −0.0 |
| Q4 FY2018 | Dec 31, 2018 | 38.7% | −1.4 |
| Q3 FY2018 | Sep 30, 2018 | 45.0% | −8.5 |
| Q2 FY2018 | Jun 30, 2018 | 42.3% | +4.3 |
| Q1 FY2018 | Mar 31, 2018 | 41.7% | +5.9 |
| Q4 FY2017 | Dec 31, 2017 | 40.2% | +7.5 |
| Q3 FY2017 | Sep 30, 2017 | 53.5% | – |
| Q2 FY2017 | Jun 30, 2017 | 37.9% | – |
| Q1 FY2017 | Mar 31, 2017 | 35.8% | – |
| Q4 FY2016 | Dec 31, 2016 | 32.7% | – |
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