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McDonald's MCD International Operated Markets — Company operated restaurants expenses

Other segment segments

U.S. Market
$693M-0.1%
International Developmental Licensed Markets and Corporate
$123M+26.8%

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DRVNNumber of locations franchised, independently-operated, and company-operated
$4.3K-10.4%
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4.3K-10.4%

Other financials

Income statement

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Revenue$7.1B+3.7%
Gross profit$6.4B+3.7%
Operating income$3.3B+3.3%
Net income$2.4B+4.8%
EPS (diluted)$3.32+5.7%

Balance sheet

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Cash & equivalents$822.0M-56.2%
Total debt$54.6B-2.3%
Total equity-$1.0B+62.9%
Total assets$59.9B+0.6%

Cash flow

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Operating cash flow$2.8B+40.5%
CapEx$831.0M+11.7%
Free cash flow$2.0B+57.6%

Valuation

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Market cap$194.68B-11.5%
Enterprise value$248.45B-9.3%
P/E22.2×-4.1×
P/S-1.4×

Profitability

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Gross margin89.7%
Operating margin46.2%+0.4pp
Net margin31.7%-0.5pp
FCF margin28%+1.5pp

Returns & leverage

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Return on equity45.4%
Debt / equity6.5×
Current ratio1.1×-0.2×

Where this comes from

Reported directly by McDonald's in its filing.

Tagged under the XBRL concept mcd:CompanyOperatedRestaurantExpenses.

The source filing: McDonald's’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 12:52 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000063908-26-000073
In millionsQuarters Ended / June 30, 2026Quarters Ended / June 30, 2025Six Months Ended / June 30, 2026Six Months Ended / June 30, 2025
International Developmental Licensed Markets & Corporate1
Total Franchised restaurants-occupancy expenses$680$654$1,356$1,274
U.S.$693$694$1,362$1,339
International Operated Markets1,3221,2862,5772,409
International Developmental Licensed Markets & Corporate12397230189
Total Company-operated restaurant expenses$2,138$2,078$4,170$3,937
U.S.$147$149$287$292
International Operated Markets190174378335

Item 1. Financial Statements

FAQ

What is McDonald's's international operated markets — company operated restaurants expenses?
McDonald's (MCD) reported international operated markets — company operated restaurants expenses of $1.32B in Q2 2026.
How has McDonald's's international operated markets — company operated restaurants expenses changed year-over-year?
McDonald's's international operated markets — company operated restaurants expenses increased by 2.8% year-over-year, from $1.29B to $1.32B.
What is the long-term trend for McDonald's's international operated markets — company operated restaurants expenses?
Over 2 years (2022 to 2024), McDonald's's international operated markets — company operated restaurants expenses has grown at a 5.7% compound annual growth rate (CAGR), from $4.27B to $4.77B.
What does international operated markets — company operated restaurants expenses mean?
The total operating costs associated with running company-owned restaurants, including labor, food, packaging, and utilities. This metric is a key indicator of the direct operational efficiency and cost control within the international segment.

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