McDonald's (MCD) 10-K Summaries & Annual Filing History

Review McDonald's Corporation (MCD) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.

Key takeaway

Year ended Dec 31, 2025 · FY2025 10-K

McDonald's Corporation filed its annual report for the fiscal year ended December 31, 2025. The filing covers business overview, risk factors, management discussion, and financial statements.

Financial snapshot

Selected annual figures reported with the filing, shown separately from the narrative summary.

Annual revenue

$26.9B

Revenue reported for the fiscal year.

Operating income

$12.4B

Income from operations reported for the year.

Net income

$8.6B

Net income reported for the year.

Operating cash flow

$10.6B

Cash generated by operating activities.

Annual revenue trend

Reported annual revenue and its change from the preceding fiscal year.

Period ended	Revenue	Year-over-year change
Dec 31, 2022	$23.2B	-0.2%
Dec 31, 2023	$25.5B	+10.0%
Dec 31, 2024	$25.9B	+1.7%
Dec 31, 2025	$26.9B	+3.7%

Business overview

McDonald's operates and franchises quick-service restaurants globally. The business overview section describes the company's brand, restaurant network, and operational strategy.

Financial performance

Revenue increased compared to the prior year, while operating income and net income remained substantial. Operating cash flow was reported at a level consistent with strong cash generation.

Material risks

The filing identifies cybersecurity as a material risk, along with legal proceedings and general business uncertainties. Forward-looking statements are subject to various factors that could cause actual results to differ.

Liquidity and capital

The management discussion addresses cash flows, financial position, and capital resources. The company continues to allocate capital toward operations and strategic initiatives.

What to watch

Monitor any updates on cybersecurity risk management and related controls in the next filing.