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McDonald's MCD Occupancy and other operating expenses

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Other financials

Income statement

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Revenue$6.5B+9.4%
Gross profit$5.8B+9.5%
Operating income$3.0B+11.5%
Net income$2.0B+6.2%
EPS (diluted)$2.78+6.9%

Balance sheet

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Cash & equivalents$1.2B-5.5%
Total debt$54.9B+4.0%
Total equity-$1.3B+62.8%
Total assets$60.0B+6.6%

Cash flow

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Operating cash flow$2.4B-0.7%
CapEx$682.0M+23.8%
Free cash flow$1.7B-7.8%

Valuation

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Market cap$191.67B-5.9%
Enterprise value$245.38B-4.8%
P/E22.1×-2.2×
P/S-0.8×

Profitability

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Gross margin86.6%
Operating margin46.3%+1.0pp
Net margin31.6%-0.1pp
FCF margin25.6%-0.4pp

Returns & leverage

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Return on equity45.4%
Debt / equity6.5×
Current ratio1.1×0.0×

Where this comes from

Reported directly by McDonald's in its filing.

Tagged under the XBRL concept mcd:OccupancyAndOtherOperatingExpenses.

The official record: McDonald's’s 10-K, filed February 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is McDonald's's occupancy and other operating expenses?
McDonald's (MCD) reported occupancy and other operating expenses of $589.5M in Q4 2025.
How has McDonald's's occupancy and other operating expenses changed year-over-year?
McDonald's's occupancy and other operating expenses decreased by 1.0% year-over-year, from $595.25M to $589.5M.
What is the long-term trend for McDonald's's occupancy and other operating expenses?
Over 4 years (2021 to 2025), McDonald's's occupancy and other operating expenses has grown at a 0.9% compound annual growth rate (CAGR), from $2.27B to $2.36B.
What does occupancy and other operating expenses mean?
This metric captures the site-level operating costs for company-owned restaurants, including rent, utilities, maintenance, and other facility-related overhead. It represents the fixed and variable costs required to maintain the physical infrastructure of the restaurant footprint. Investors use this to evaluate the operational efficiency of the company's real estate and facility management.