McDonald's (MCD) 10-K Summary — Year Ended Dec 31, 2025
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.
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.