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McDonald's MCD Return on invested capital

Return on invested capital at other companies

Starbucks logo
StarbucksSBUX
11.8%-11.5pp
Chipotle Mexican Grill logo
Chipotle Mexican GrillCMG
19.1%-2.0pp
Restaurant Brands International logo
Restaurant Brands InternationalQSR
9.9%-0.5pp

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$197.95B-0.8%
Enterprise value$251.67B+0.1%
P/E22.8×-1.6×
P/S7.2×-0.6×

Profitability

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

Returns & leverage

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

Where this comes from

Calculated from McDonald's’s reported figures.

Based on trailing twelve months.

The official record: McDonald's’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is McDonald's's return on invested capital?
McDonald's (MCD) reported return on invested capital of 25.3% in Q1 2026.
How has McDonald's's return on invested capital changed year-over-year?
McDonald's's return on invested capital increased by 27.5% year-over-year, from 19.8% to 25.3%.
What is the long-term trend for McDonald's's return on invested capital?
Over 2 years (2021 to 2025), McDonald's's return on invested capital has grown at a -1.3% compound annual growth rate (CAGR), from 79.4% to 77.4%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.