McDonald’s Corporation (MCD) Q4 2025 Financial Results Summary
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McDonald’s (MCD) Q3 2025 Financial Results Summary
Released on November 5, 2025, McDonald’s Corporation announced its financial results for the third quarter ended September 30, 2025. Below is a summary of the key financial metrics and operational highlights for the quarter.
Key Financial Highlights
- Global Comparable Sales:
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Increased by 3.6% compared to Q3 2024.
- U.S. segment: up 2.4% (from 0.3% the previous year).
- International Operated Markets: up 4.3% (from -2.1%).
- International Developmental Licensed Markets: up 4.7% (from -3.5%).
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Global Systemwide Sales:
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Over $36 billion for the quarter, representing an 8% increase compared to the same quarter the prior year (6% in constant currency).
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Total Revenues:
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$7,078 million, a 3% increase compared to Q3 2024 ($6,873 million).
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Consolidated Operating Income:
- $3,357 million, marking a 5% increase versus Q3 2024 ($3,188 million).
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Excluding charges of $39 million for restructuring, the increase would have been 3% instead of 5%.
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Diluted Earnings Per Share (EPS):
- $3.18, a 2% increase from $3.13 in Q3 2024.
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Excluding charges, the adjusted EPS was $3.22, flat compared to the previous year (with a slight decrease of 1% in constant currency).
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Net Income:
- Reports indicate a net income of $2,278 million, signaling a 1% increase from $2,255 million in Q3 2024.
Segment Performance
- U.S. Comparable Sales:
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Results driven primarily by positive check growth.
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International Operated Markets:
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Encouraging growth across all markets, particularly in Germany and Australia.
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International Developmental Licensed Markets:
- Japan led positive growth in this segment, with all geographic regions performing well.
Additional Financial Metrics
- Nine Months Ended September 30, 2025:
- Total Revenues of $19,876 million, a 2% increase compared to the prior year’s $19,532 million.
- Net Income rose to $6,399 million, a 3% increase from $6,207 million.
- Diluted EPS for the nine-month period: $8.92, up 4% from $8.59 in the same period of 2024.
Dividends & Share Repurchase
- McDonald’s Corporation did not declare a quarterly dividend or engage in a share repurchase during this reporting period, as per the provided information.
Conclusion
McDonald’s third quarter results indicate a stable growth trajectory despite challenging market conditions, supported by increases across sales and net income metrics. The company’s ability to adapt through menu innovation and a focus on customer value has proven effective, as evidenced by its performance across various geographic segments.
Here are the requested tables extracted from the press release:
| Quarters Ended September 30 | 2025 | 2024 | Inc/ (Dec) | % |
|---|---|---|---|---|
| Revenues from franchised restaurants | $4,363 | $4,094 | $270 | 7% |
| Sales by Company-owned and operated restaurants | $2,563 | $2,656 | -$93 | -3% |
| Other revenues | $151 | $124 | $27 | 22% |
| TOTAL REVENUES | $7,078 | $6,873 | $204 | 3% |
| Franchised restaurants-occupancy expenses | $666 | $646 | $20 | 3% |
| Company-owned and operated restaurant expenses | $2,172 | $2,248 | -$76 | -3% |
| Other restaurant expenses | $135 | $104 | $31 | 30% |
| Depreciation and amortization | $121 | $111 | $9 | 8% |
| Other | $664 | $536 | $128 | 24% |
| Other operating (income) expense, net | -$37 | $39 | -$76 | n/m |
| Total operating costs and expenses | $3,721 | $3,685 | $36 | 1% |
| OPERATING INCOME | $3,357 | $3,188 | $168 | 5% |
| Interest expense | $406 | $381 | $26 | 7% |
| Nonoperating (income) expense, net | $1 | -$36 | $36 | n/m |
| Income before provision for income taxes | $2,949 | $2,843 | $106 | 4% |
| Provision for income taxes | $671 | $588 | $83 | 14% |
| NET INCOME | $2,278 | $2,255 | $23 | 1% |
| EARNINGS PER SHARE-DILUTED | $3.18 | $3.13 | $0.05 | 2% |
| Weighted average shares outstanding-diluted | 715.9 | 720.0 | -4.2 | -1% |
| Nine Months Ended September 30 | 2025 | 2024 | Inc/ (Dec) | % |
|---|---|---|---|---|
| Revenues from franchised restaurants | $12,238 | $11,756 | $481 | 4% |
| Sales by Company-owned and operated restaurants | $7,154 | $7,472 | -$318 | -4% |
| Other revenues | $485 | $304 | $181 | 60% |
| TOTAL REVENUES | $19,876 | $19,532 | $344 | 2% |
| Franchised restaurants-occupancy expenses | $1,940 | $1,902 | $38 | 2% |
| Company-owned and operated restaurant expenses | $6,109 | $6,358 | -$249 | -4% |
| Other restaurant expenses | $424 | $241 | $183 | 76% |
| Depreciation and amortization | $333 | $311 | $23 | 7% |
| Other | $1,834 | $1,748 | $86 | 5% |
| Other operating (income) expense, net | -$1 | $129 | -$131 | n/m |
| Total operating costs and expenses | $10,639 | $10,688 | -$49 | — |
| OPERATING INCOME | $9,237 | $8,844 | $393 | 4% |
| Interest expense | $1,172 | $1,126 | $46 | 4% |
| Nonoperating (income) expense, net | -$75 | -$90 | $15 | -16% |
| Income before provision for income taxes | $8,140 | $7,807 | $333 | 4% |
| Provision for income taxes | $1,740 | $1,600 | $140 | 9% |
| NET INCOME | $6,399 | $6,207 | $193 | 3% |
| EARNINGS PER SHARE-DILUTED | $8.92 | $8.59 | $0.33 | 4% |
| Weighted average shares outstanding-diluted | 717.2 | 722.7 | -5.5 | -1% |