McDonald’s Corporation
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of McDonald’s Corporation (MCD). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| International Operated Markets | $9.57B 49.8% | $12.22B 52.6% · +27.7% | $11.30B 48.7% · -7.6% | $12.38B 48.6% · +9.6% | $12.63B 48.7% · +2.0% | $13.63B 50.7% · +8.0% |
| U.S. | $7.83B 40.8% | $8.87B 38.2% · +13.2% | $9.59B 41.4% · +8.2% | $10.57B 41.5% · +10.2% | $10.63B 41.0% · +0.6% | $10.83B 40.3% · +1.8% |
| International Developmental Licensed Markets & Corporate | $1.81B 9.4% | $2.14B 9.2% · +18.2% | $2.30B 9.9% · +7.4% | $2.54B 10.0% · +10.7% | $2.66B 10.3% · +4.6% | $2.43B 9.0% · -8.8% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| International Operated Markets | $3.32B 34.6% | $5.13B 42.0% | $3.93B 34.8% | $5.83B 47.1% | $5.95B 47.1% | $6.38B 46.8% |
| U.S. | $3.79B 48.4% | $4.75B 53.6% | $5.14B 53.6% | $5.69B 53.9% | $5.73B 53.9% | $5.81B 53.7% |
| International Developmental Licensed Markets & Corporate | $219.8M 12.2% | $470.7M 22.0% | $309.0M 13.5% | $121.0M 4.8% | $33.0M 1.2% | $203.0M 8.4% |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 7, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.