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

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Profitability
Operating margin	183.2%+1.8pp	181.4%+3.7pp	177.7%+14.2pp	163.5%-10.6pp
Net margin	127.8%-1.3pp	129.1%+0.2pp	128.9%+21.2pp	107.8%-15.1pp
EBITDA margin	190.2%+2.6pp	187.6%+3.7pp	183.9%+14.3pp	169.6%-10.3pp
Free cash flow margin	107.3%+0.8pp	106.5%-2.4pp	108.9%+5.1pp	103.8%-16.0pp
Returns
Return on assets	59%—	——	——	49.5%-2.5pp
Return on invested capital	77.4%—	——	——	77.2%-2.2pp
Efficiency
Asset turnover	1.8×—	——	——	1.8×+0.2×
Liquidity
Current ratio	4.4×+0.6×	3.9×—	——	5.6×-0.2×
Quick ratio	4.4×+0.6×	3.8×—	——	5.5×-0.2×
Cash ratio	1.3×+0.5×	0.8×—	——	2.6×-0.9×
Leverage
Debt-to-assets	3.8×-0.1×	3.8×—	——	3.8×+0.1×
Net debt / EBITDA	17.3×+0.3×	17×—	——	18.3×-0.5×
Interest coverage	31.1×-1.0×	32.1×-1.3×	33.4×+0.9×	32.5×+1.0×
Per Share
Book value per share	-$14.18+45.0%	-$25.79+7.0%	-$27.72+17.4%	-$33.58-8.2%
Valuation
Market capitalization	$866.1B+6.2%	$815.23B-1.4%	$827.2B+13.4%	$729.23B+1.2%
Enterprise value	$1.08T+6.0%	$1.02T—	——	$910.73B+0.9%
Price / earnings	103.4×+5.6×	97.8×-7.4×	105.1×-10.7×	115.8×+7.1×
Price / sales	33×+1.5×	31.5×-2.2×	33.8×+2.7×	31.1×-2.0×
EV / EBITDA	86.8×+2.5×	84.2×—	——	91.7×-0.8×
EV / sales	41.3×+1.8×	39.5×—	——	38.8×-2.7×
Free cash flow yield	13%-0.6pp	13.6%+0.6pp	13%-0.4pp	13.4%-1.1pp
Earnings yield	15.5%-0.9pp	16.4%+1.1pp	15.3%+1.5pp	13.9%-1.0pp
Dividend yield	9.3%-0.1pp	9.4%+0.9pp	8.5%-0.4pp	8.9%+0.4pp

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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.