McDonald's (MCD) 10-K Summary — Year Ended Dec 31, 2024
McDonald's Corporation operates a global restaurant network. The company reported an increase in revenue for the most recent fiscal year, though growth slowed compared to the prior year.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
McDonald's Corporation operates a global restaurant network. The company reported an increase in revenue for the most recent fiscal year, though growth slowed compared to the prior year.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$25.9B
Revenue reported for the fiscal year.
Operating income
$11.7B
Income from operations reported for the year.
Net income
$8.2B
Net income reported for the year.
Operating cash flow
$9.4B
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, 2021 | $23.2B | n/a |
| Dec 31, 2022 | $23.2B | -0.2% |
| Dec 31, 2023 | $25.5B | +10.0% |
| Dec 31, 2024 | $25.9B | +1.7% |
Business overview
McDonald's is a leading global foodservice retailer with restaurants serving a variety of menu items. The company operates through a combination of company-owned and franchised locations worldwide.
Financial performance
Revenue has increased over the past several periods, with the most recent year showing continued growth albeit at a reduced rate. Operating income and net income also reflected the company's financial performance during the period.
Material risks
The filing identifies risks including cybersecurity threats, legal proceedings, and forward-looking uncertainties. The company also faces operational and competitive challenges common in the quick-service restaurant industry.
Liquidity and capital
The company generated operating cash flow to support its financial position and capital allocation activities. McDonald's continues to manage its capital resources to fund operations and strategic priorities.
What to watch
Monitor the trajectory of revenue growth in the next filing to assess whether the company can sustain its recent performance trends.