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 | Q1 2025 | Q2 2025 | Q3 2025 | Q1 2026 | Q2 2026 | Q3 2026 |
|---|---|---|---|---|---|---|
| International Operated Markets | $2.92B 49.0% | $3.46B 50.6% | $3.66B 51.7% | $3.33B 51.0% | $3.60B 50.8% · +23.6% | $3.66B 51.2% · +5.8% |
| U.S. | $2.49B 41.9% | $2.78B 40.6% | $2.77B 39.2% | $2.58B 39.6% | $2.83B 39.8% · +13.4% | $2.79B 38.9% · +0.1% |
| International Developmental Licensed Markets and Corporate | $546.0M 9.2% | $600.0M 8.8% | $648.0M 9.2% | $610.0M 9.4% | $669.0M 9.4% · +22.5% | $709.0M 9.9% · +18.2% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | Q1 2025 | Q2 2025 | Q3 2025 | Q1 2026 | Q2 2026 | Q3 2026 |
|---|---|---|---|---|---|---|
| International Operated Markets | $1.29B 44.2% | $1.64B 47.2% | $1.76B 48.1% | $1.51B 45.3% | $1.72B 47.8% | $1.80B 49.0% |
| U.S. | $1.30B 52.2% | $1.53B 54.9% | $1.50B 54.0% | $1.38B 53.4% | $1.57B 55.6% | $1.63B 58.3% |
| International Developmental Licensed Markets and Corporate | $57.0M 10.4% | $70.0M 11.7% | $97.0M 15.0% | $67.0M 11.0% | $42.0M 6.3% | $174.0M 24.5% |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Operating metrics
Operating metrics are the figures a company uses to measure its own business — customer counts, stores, deliveries or the churn rate. None of them appear in the financial statements, and they often explain earlier than revenue does why revenue is moving.
| Metric | Q2 2025 | Q3 2025 | Q1 2026 | Q2 2026 | Q3 2026 |
|---|---|---|---|---|---|
| Total franchised sales | $32.76B | $34.09B | $31.92B | $34.45B +5.2% | $35.63B +4.5% |
| Total McDonald's restaurants worldwide | 44,113 | 44,599 | 45,699 | 46,028 +4.3% | 46,554 +4.4% |
| Share of franchised restaurants | 95.0% | 95.0% | 95.0% | 95.0% +0.0% | 95.0% +0.0% |
| Number of markets with loyalty programs | 60 | 60 | 70 | 70 +16.7% | 70 +16.7% |
| International Developmental Licensed Markets comparable sales growth | 5.6% | 4.7% | 3.4% | 1.9% -66.1% | 4.2% -10.6% |
| Systemwide sales growth | 8.0% | 8.0% | 11.0% | 5.0% -37.5% | 4.0% -50.0% |
| Global comparable sales growth | 3.8% | 3.6% | 3.8% | 1.3% -65.8% | 1.5% -58.3% |
| International Operated Markets comparable sales growth | 4.0% | 4.3% | 3.9% | 1.5% -62.5% | 1.4% -67.4% |
| Total drive thru locations worldwide | 28,000 | 29,000 | 29,000 | – | – |
| Total restaurants offering delivery | 39,000 | 40,000 | 41,000 | – | – |
| U.S. comparable sales growth | 2.5% | 2.4% | 3.9% | 0.8% -68.0% | – |
These metrics are not part of the financial statements; they sit in the narrative text of the filings. We read them out of the SEC filings using artificial intelligence and check every single figure against the original passage in the report; anything that is not found there verbatim is discarded. Source: SEC EDGAR (annual and quarterly reports, 10-K/10-Q).
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: November 6, 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.