McDonald's MCD
- Headquarters
- Chicago, IL
- Next results
- around Feb 10, 2027
MCD among Consumer discretionary peers
Six ratios from the latest 10-K. Each corner is the share of 46 peers the company is above, not a score.
What changed
2 new risk paragraphs. 10-K filed Feb 24, 2026 against Feb 25, 2025.
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
Accounting checks
11 checks on the latest 10-K. Checks, not verdicts.
0facts worth reading about all 11 checks found nothing to note
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Receivables +3.5% vs revenue +3.7% (-0.2 pts)
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Cash from operations $10.6B vs net income $8.6B (FY ending Dec 31, 2025)
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Inventory +8.9% vs revenue +3.7% (+5.2 pts)
8 more checks with nothing to note
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Same auditor in both 10-Ks: Ernst & Young LLP
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No statement of substantial doubt about going concern
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No 8-K item 4.02 in the last 2 years
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No NT 10-K or NT 10-Q in the last 2 years
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The same matters as last year: McDonald's Corporation 2025 Annual Report 65; Measurement of Unrecognized Tax Benefits
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No sentence in the 10-K concludes that controls were not effective because of a material weakness
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No 8-K item 2.06 in the last 2 years
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No 8-K item 1.03 in the last 2 years
In their words
2 paragraphs in Risk Factors that were not in the 10-K filed Feb 25, 2025. Quoted as filed.
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Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
Consumer acceptance of our menu offerings is subject to change for a variety of reasons, and some changes can occur rapidly. For example, health, environmental and other scientific studies and practices (such as changes to dietary guidelines or use of weight-loss medications), continuously evolve and may have contradictory implications,…
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Item 1A · new paragraph · not in the 10-K filed Feb 25, 2025 10-K, ITEM 1A
In addition, the AI tools we are incorporating into certain aspects of our business may not generate the intended efficiencies, may increase our exposure to risks (both known and unknown), and could adversely impact our business results. These risks include potential operational disruptions, data integrity issues, and unintended…
New risk paragraphs, against peers
Latest 10-K of each, Consumer discretionary companies closest in revenue
Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.
Financial performance
Last 4 fiscal years · 10-K XBRL
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | $23.2B | $25.5B | $25.9B | $26.9B |
| Net income | $6.2B | $8.5B | $8.2B | $8.6B |
| Operating cash flow | $7.4B | $9.6B | $9.4B | $10.6B |
| Free cash flow | $5.5B | $7.3B | $6.7B | $7.2B |
Revenue, FY2016 to FY2025
Ten fiscal years, each from its own 10-K · XBRL · USD
$26.9B ▲ 3.7% in FY2025$8.6B ▲ 4.1% in FY2025$7.2B ▲ 7.7% in FY2025
Recent filings
2 filings in the last 30 days · SEC EDGAR
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10-QNov 6, 2026Quarterly report (10-Q) period ended Sep 30, 2026
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8-KNov 4, 2026Quarterly results 8-K item 2.02
About the company
McDonald's, Chicago, IL · from the 10-K filed Feb 24, 2026
- Headquarters
- Chicago, IL
- Country
- United States
- Reports in
- USD
- Listed on
- NYSE
- Fiscal year ends
- December 31
- Last results
- Nov 4, 2026
- Incorporated in
- DE
Email alerts
Sources
The 10-K filed Feb 24, 2026 (open at SEC), compared with the 10-K filed Feb 25, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.
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