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%+1.0pp	46.1%+0.9pp	46.1%+1.2pp	45.8%+0.5pp	45.2%-0.8pp
Net margin	31.6%-0.1pp	31.8%+0.1pp	32%+0.3pp	32.2%0.0pp	31.7%-1.6pp
EBITDA margin	47.9%+1.0pp	47.8%+0.9pp	47.9%+1.4pp	47.6%+0.8pp	47%-0.5pp
Free cash flow margin	25.6%-0.4pp	26.7%+1.0pp	28.1%+2.7pp	26.5%-1.1pp	26.1%-1.8pp
Returns
Return on assets	14.9%+0.1pp	14.9%+0.2pp	14.4%—	14.8%-1.1pp	14.9%-1.4pp
Return on invested capital	25.3%+5.5pp	18.7%-1.4pp	19.4%—	19.4%-1.7pp	19.8%-2.5pp
Efficiency
Asset turnover	0.5×0.0×	0.5×0.0×	0.4×—	0.5×0.0×	0.5×0.0×
Liquidity
Current ratio	1.1×0.0×	1×-0.2×	1×+0.2×	1.3×+0.2×	1.2×+0.4×
Quick ratio	1.1×0.0×	0.9×-0.2×	1×+0.2×	1.3×+0.2×	1.2×+0.3×
Cash ratio	0.3×0.0×	0.2×-0.1×	0.4×+0.2×	0.4×+0.2×	0.3×+0.1×
Leverage
Debt-to-assets	0.9×0.0×	1×0.0×	0.9×0.0×	0.9×0.0×	0.9×0.0×
Net debt / EBITDA	4.1×-0.2×	4.4×+0.1×	4.2×-0.1×	4.4×+0.1×	4.3×+0.2×
Interest coverage	7.9×+0.2×	7.8×+0.1×	7.8×0.0×	7.8×-0.3×	7.7×-0.7×
Per Share
Book value per share	-$1.80+62.5%	-$2.50+52.5%	-$3.02+58.0%	-$3.85+42.4%	-$4.81+27.8%
Valuation
Market capitalization	$221.33B-0.8%	$217.66B+4.8%	$216.86B-0.9%	$208.41B+13.3%	$223.18B+9.0%
Enterprise value	$275.04B+0.1%	$274.77B+5.5%	$270.26B-0.3%	$262.4B+11.6%	$274.7B+7.8%
Price / earnings	25.5×-1.8×	25.4×+0.2×	25.8×-0.8×	24.8×+2.7×	27.3×+3.5×
Price / sales	8.1×-0.6×	8.1×+0.1×	8.3×-0.2×	8×+0.9×	8.7×+0.7×
EV / EBITDA	20.9×-1.8×	21.4×0.0×	21.5×-1.0×	21.2×+1.7×	22.7×+1.9×
EV / sales	10×-0.7×	10.2×+0.2×	10.3×-0.2×	10.1×+0.9×	10.7×+0.8×
Free cash flow yield	3.2%+0.2pp	3.3%+0.1pp	3.4%+0.4pp	3.3%-0.5pp	3%-0.5pp
Earnings yield	3.9%+0.3pp	3.9%0.0pp	3.9%+0.1pp	4%-0.5pp	3.7%-0.5pp
Dividend yield	2.3%+0.1pp	2.4%0.0pp	2.3%+0.1pp	2.4%-0.2pp	2.2%-0.1pp
PEG ratio	4×—	6.1×—	12.5×—	24.3×+18.6×	——

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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.