What are McDonald's's profit margins?

McDonald's (MCD) runs a 86.6% gross margin and a 46.3% operating margin, with a 31.6% net margin.

Where do McDonald's's ratios come from?

Every ratio is computed from McDonald's's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

McDonald's MCD Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Operating margin	46.3%+0.2pp	46.1%0.0pp	46.1%+0.3pp	45.8%+0.6pp	45.2%0.0pp
Net margin	31.6%-0.2pp	31.8%-0.2pp	32%-0.2pp	32.2%+0.5pp	31.7%0.0pp
EBITDA margin	47.9%+0.1pp	47.8%-0.1pp	47.9%+0.3pp	47.6%+0.6pp	47%+0.1pp
Free cash flow margin	25.6%-1.1pp	26.7%-1.3pp	28.1%+1.6pp	26.5%+0.4pp	26.1%+0.3pp
Returns
Return on assets	14.9%0.0pp	14.9%+0.5pp	14.4%-0.4pp	14.8%-0.1pp	14.9%+0.1pp
Return on invested capital	25.3%+6.6pp	18.7%-0.7pp	19.4%0.0pp	19.4%-0.4pp	19.8%-0.3pp
Efficiency
Asset turnover	0.5×0.0×	0.5×0.0×	0.4×0.0×	0.5×0.0×	0.5×0.0×
Liquidity
Current ratio	1.1×+0.2×	1×0.0×	1×-0.3×	1.3×+0.1×	1.2×0.0×
Quick ratio	1.1×+0.2×	0.9×-0.1×	1×-0.3×	1.3×+0.1×	1.2×0.0×
Cash ratio	0.3×+0.1×	0.2×-0.2×	0.4×0.0×	0.4×+0.1×	0.3×0.0×
Leverage
Debt-to-assets	0.9×-0.1×	1×+0.1×	0.9×0.0×	0.9×0.0×	0.9×0.0×
Net debt / EBITDA	4.1×-0.4×	4.4×+0.2×	4.2×-0.1×	4.4×+0.1×	4.3×-0.1×
Interest coverage	7.9×+0.1×	7.8×0.0×	7.8×0.0×	7.8×+0.1×	7.7×-0.1×
Per Share
Book value per share	-$1.80+27.9%	-$2.50+17.3%	-$3.02+21.4%	-$3.85+20.0%	-$4.81+8.6%
Valuation
Market capitalization	$221.33B+1.7%	$217.66B+0.4%	$216.86B+4.1%	$208.41B-6.6%	$223.18B+7.4%
Enterprise value	$275.04B+0.1%	$274.77B+1.7%	$270.26B+3.0%	$262.4B-4.5%	$274.7B+5.5%
Price / earnings	25.5×+0.1×	25.4×-0.4×	25.8×+0.9×	24.8×-2.5×	27.3×+2.1×
Price / sales	8.1×0.0×	8.1×-0.2×	8.3×+0.3×	8×-0.7×	8.7×+0.7×
EV / EBITDA	20.9×-0.5×	21.4×-0.1×	21.5×+0.3×	21.2×-1.6×	22.7×+1.3×
EV / sales	10×-0.2×	10.2×-0.1×	10.3×+0.2×	10.1×-0.6×	10.7×+0.6×
Free cash flow yield	3.2%-0.1pp	3.3%-0.1pp	3.4%+0.1pp	3.3%+0.3pp	3%-0.2pp
Earnings yield	3.9%0.0pp	3.9%+0.1pp	3.9%-0.1pp	4%+0.4pp	3.7%-0.3pp
Dividend yield	2.3%0.0pp	2.4%0.0pp	2.3%-0.1pp	2.4%+0.2pp	2.2%-0.1pp
PEG ratio	4×-2.1×	6.1×-6.4×	12.5×-11.8×	24.3×—	——

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Questions, answered.

What are McDonald's's profit margins?: McDonald's (MCD) runs a 86.6% gross margin and a 46.3% operating margin, with a 31.6% net margin.
Where do McDonald's's ratios come from?: Every ratio is computed from McDonald's's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.