McDonald's Corporation (MCD) quarterly cash flow statement — complete operating, investing & financing history
McDonald's Corporation (MCD) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 2.81B | 2.41B | 2.7B | 3.43B | 2B | 2.43B | 2.63B | 2.74B | 1.69B | 2.39B | 2.49B | 3.03B | 1.67B | 2.42B | 2.2B | 2.43B | 618.1M | 2.13B | 2.67B | 2.62B |
| Operating CF Margin % | 39.58% | 37.01% | 38.48% | 48.43% | 29.2% | 40.77% | 41.19% | 39.8% | 26.02% | 38.74% | 38.85% | 45.26% | 25.75% | 41.03% | 37.15% | 41.45% | 10.81% | 37.65% | 44.37% | 42.21% |
| Operating CF Growth % | 40.64% | -0.66% | 2.51% | 25.29% | 18.29% | 1.59% | 5.71% | -9.67% | 0.94% | -1.24% | 13.06% | 24.45% | 170.72% | 13.44% | -17.44% | -7.03% | -64.34% | 0.44% | 33.81% | -10.94% |
| Net Income | 2.36B | 1.98B | 2.16B | 2.28B | 2.25B | 1.87B | 2.02B | 2.25B | 2.02B | 1.93B | 2.04B | 2.32B | 2.31B | 1.8B | 1.9B | 1.98B | 1.19B | 1.1B | 1.64B | 2.15B |
| Depreciation & Amortization | 565M | 566M | 576M | 559M | 544M | 520M | 553M | 532M | 502M | 510M | 497.5M | 498M | 492M | 490M | 463.1M | 465.6M | 462.2M | 479.7M | 481.6M | 469.2M |
| Stock-Based Compensation | 39M | 60M | 37M | 39M | 44M | 45M | 44M | 40M | 38M | 50M | 37.4M | 42.9M | 45M | 50M | 35.8M | 38.3M | 38.3M | 54.3M | 41.3M | 34.1M |
| Deferred Taxes | -58M | 63M | -77M | 35M | -41M | -44M | -73M | -137M | -226M | -138M | -271.6M | -176M | -152M | -86M | 37.4M | -196.3M | -136.3M | -50.5M | -12.1M | -45.8M |
| Other Non-Cash Items | -51M | -92M | -159M | -53M | -71M | -72M | 15M | -33M | 16M | -31M | -32.8M | -106M | -46.4M | -31M | -98.3M | -45.6M | 234.2M | 72M | -72.1M | -163.6M |
| Working Capital Changes | -47M | -168M | 156M | 570M | -731M | 111M | 76M | 79M | -663M | 70M | 219.4M | 453.1M | -976M | 195M | -140M | 190.3M | -1.17B | 473.4M | 589M | 174M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -264.1M | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.6M | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 31.3M | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -871M | -777M | -1.07B | -1.11B | -869M | -771M | -742M | -1.27B | -845M | -2.49B | -839.4M | -933.3M | -670M | -741M | -1.07B | -733.1M | -319.2M | -554.5M | -1.12B | -384.9M |
| Capital Expenditures | -834M | -682M | -1.06B | -1.01B | -744M | -551M | -807M | -794M | -628M | -547M | -757.3M | -570.3M | -526M | -503M | -528.9M | -531.2M | -437.9M | -401.2M | -687.2M | -501.5M |
| CapEx % of Revenue | 11.75% | 10.46% | 15.11% | 14.28% | 10.87% | 9.25% | 12.63% | 11.55% | 9.68% | 8.87% | 11.82% | 8.52% | 8.1% | 8.53% | 8.92% | 9.05% | 7.66% | 7.08% | 11.44% | 8.09% |
| Acquisitions | -74M | -79M | 261M | 15M | -22M | -26M | 81M | -433M | -67M | -1.83B | -38.2M | -76.1M | -55M | -77M | -374M | -119.2M | 0 | -70.2M | -97M | 31.5M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 37M | -16M | -271M | -116M | -103M | -194M | -16M | -39M | -151M | -116M | -43.9M | -286.9M | -89M | -161M | -168.4M | -82.7M | 118.7M | -83.1M | -338.5M | 85.1M |
| Cash from Financing | -2.39B | -1.23B | -3.24B | -1.79B | -555M | -1.54B | -1.88B | -1.09B | -869M | -3.66B | -585.7M | -136.2M | -3.09B | -558M | -1.52B | -546.4M | -686.7M | -3.83B | -1.1B | -927.4M |
| Debt Issued (Net) | -88M | 367M | -1.37B | -17M | 1.3B | 13M | -150M | 474M | 1.23B | -1.62B | 1.46B | 2B | -1.53B | 1.07B | 14.2M | 1.19B | 1.33B | -1.34B | 661.3M | -700K |
| Equity Issued (Net) | -841M | -268M | -504M | -473M | -505M | -477M | -503M | -337M | -934M | -819M | -851.8M | -1.05B | -570M | -578M | -489.1M | -869.2M | -1.03B | -1.51B | -803.3M | -17.7M |
| Dividends Paid | -1.32B | -1.32B | -1.32B | -1.26B | -1.26B | -1.27B | -1.27B | -1.2B | -1.2B | -1.21B | -1.21B | -1.1B | -1.11B | -1.11B | -1.11B | -1.01B | -1.02B | -1.03B | -1.03B | -963.9M |
| Share Repurchases | -855M | -396M | -573M | -501M | -505M | -477M | -503M | -469M | -934M | -918M | -851.8M | -1.05B | -570M | -578M | -489.1M | -869.2M | -1.03B | -1.51B | -803.3M | -17.7M |
| Other Financing | -141M | -2M | -46M | -34M | -85M | 187M | 43M | -27M | 35M | -12M | 17M | 20.9M | 119M | 64M | 69.4M | 143.3M | 27.6M | 46.1M | 73.1M | 54.9M |
| Net Change in Cash | -348M | 396M | -1.64B | 537M | 638M | 153M | -136M | 429M | -46M | -3.74B | 1.08B | 1.87B | -2.08B | 1.12B | -244.5M | 955.8M | -463.2M | -2.37B | 403.4M | 1.26B |
| Free Cash Flow | 1.98B | 1.73B | 1.64B | 2.42B | 1.25B | 1.88B | 1.82B | 1.94B | 1.06B | 1.84B | 1.73B | 2.46B | 1.15B | 1.92B | 1.67B | 1.9B | 180.2M | 1.73B | 1.98B | 2.12B |
| FCF Margin % | 27.83% | 26.55% | 23.37% | 34.15% | 18.33% | 31.52% | 28.55% | 28.25% | 16.35% | 29.88% | 27.03% | 36.74% | 17.65% | 32.5% | 28.22% | 32.4% | 3.15% | 30.57% | 32.94% | 34.13% |
| FCF Growth % | 57.58% | -7.83% | -10.2% | 24.46% | 18.19% | 1.84% | 5.34% | -21.02% | -7.48% | -3.86% | 3.53% | 29.22% | 536.4% | 10.67% | -15.5% | -10.09% | -85.59% | -1.32% | 29.39% | -16.99% |
| FCF per Share | 2.77 | 2.42 | 2.29 | 3.38 | 1.75 | 2.61 | 2.53 | 2.70 | 1.47 | 2.54 | 2.38 | 3.36 | 1.56 | 2.61 | 2.27 | 2.57 | 0.24 | 2.32 | 2.63 | 2.81 |
| FCF Conversion (FCF/Net Income) | 1.19x | 1.22x | 1.25x | 1.50x | 0.89x | 1.30x | 1.31x | 1.21x | 0.84x | 1.24x | 1.22x | 1.31x | 0.72x | 1.34x | 1.16x | 1.23x | 0.52x | 1.93x | 1.63x | 1.22x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |