Filing Flows › McDonald's (MCD) › Q3 2026 › vs Q2 2026
McDonald's (MCD) Q3 2026 vs Q2 2026 (quarter over quarter)
McDonald's's revenue rose $58.0M (+0.8%) from $7.1B in Q2 2026 to $7.2B in Q3 2026. The biggest changes: International Operated Markets +$60.0M (+2%); U.S. Market −$42.0M (-1%); International Developmental Licensed Markets and Corporate +$40.0M (+6%). Operating margin 50.2% against 47.0% (+3.2 pts).
McDonald's, Q3 2026: revenue $7.2B (+1% year over year), operating margin 50.2%, net earnings $2.5B, operating cash flow $3.0B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 50.2% | 47.0% | +3.2 pts |
| Net margin | 34.7% | 33.3% | +1.5 pts |
| Free cash flow margin | 30.0% | 27.8% | +2.2 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| International Operated Markets | $3.7B | $3.6B | $60.0M | +2% |
| U.S. Market | $2.8B | $2.8B | −$42.0M | -1% |
| International Developmental Licensed Markets and Corporate | $709M | $669M | $40.0M | +6% |
| Revenue | $7.2B | $7.1B | $58.0M | +0.8% |
| Operating profit | $3.6B | $3.3B | $257M | +8% |
| Costs & expenses | $3.6B | $3.8B | −$199M | -5% |
| Pre-tax earnings | $3.2B | $2.9B | $252M | +9% |
| Other expense, net | $407M | $402M | $5.0M | +1% |
| Cost of revenue | $687M | $680M | $7.0M | +1% |
| SG&A | $759M | $817M | −$58.0M | -7% |
| Other operating costs | $2.1B | $2.3B | −$148M | -7% |
| Net earnings | $2.5B | $2.4B | $124M | +5% |
| Income tax | $702M | $574M | $128M | +22% |
| Depreciation & amortization | $118M | $111M | $7.0M | +6% |
| Share-based compensation | $46.0M | $39.0M | $7.0M | +18% |
| Working capital & other | $381M | $295M | $86.0M | +29% |
| Operating cash flow | $3.0B | $2.8B | $224M | +8% |
| Free cash flow (OCF − capex) | $2.1B | $2.0B | $171M | +9% |
| Capital expenditures | $884M | $831M | $53.0M | +6% |
Questions
How much did McDonald's's revenue grow quarter over quarter in Q3 2026?
McDonald's's revenue rose $58.0M (+0.8%) from $7.1B in Q2 2026 to $7.2B in Q3 2026.
What drove McDonald's's revenue change in Q3 2026?
International Operated Markets +$60.0M (+2%); U.S.