Here are the 10-K annual reports from McDonald's Corporation (MCD) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow MCD and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MCD filings page.
McDonald’s Corporation reports solid 2025 annual results, with revenues of $26.9 billion, up 4%, and operating income of $12.4 billion, up 6%. Diluted EPS rose 5% to $11.95, helped by higher sales-driven franchised margins.
Global comparable sales grew 3.1%, while Systemwide sales reached $139.4 billion, up 7%. The company generated $10.6 billion in operating cash flow and $7.2 billion in free cash flow, returning $7.1 billion to shareholders via dividends and buybacks.
McDonald’s opened 2,276 new restaurants, ending 2025 with 45,356 locations, about 95% franchised. Management’s 2026 outlook calls for operating margin in the mid-to-high 40% range, 2.5% Systemwide sales growth from unit expansion, and capital spending of $3.7–$3.9 billion.