Filing Flows › McDonald's (MCD) › Q3 2026 › vs Q3 2025
McDonald's (MCD) Q3 2026 vs Q3 2025 (year over year)
McDonald's's revenue rose $79.0M (+1%) from $7.1B in Q3 2025 to $7.2B in Q3 2026. The biggest changes: International Developmental Licensed Markets and Corporate +$61.0M (+9%); U.S. Market +$13.0M (+0.5%); International Operated Markets +$5.0M (+0.1%). Operating margin 50.2% against 47.4% (+2.8 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 50.2% | 47.4% | +2.8 pts |
| Net margin | 34.7% | 32.2% | +2.6 pts |
| Free cash flow margin | 30.0% | 34.1% | -4.1 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| International Operated Markets | $3.7B | $3.7B | $5.0M | +0.1% |
| U.S. Market | $2.8B | $2.8B | $13.0M | +0.5% |
| International Developmental Licensed Markets and Corporate | $709M | $648M | $61.0M | +9% |
| Revenue | $7.2B | $7.1B | $79.0M | +1% |
| Operating profit | $3.6B | $3.4B | $238M | +7% |
| Costs & expenses | $3.6B | $3.7B | −$159M | -4% |
| Pre-tax earnings | $3.2B | $2.9B | $239M | +8% |
| Other expense, net | $407M | $408M | −$1.0M | -0.2% |
| Cost of revenue | $687M | $666M | $21.0M | +3% |
| SG&A | $759M | $785M | −$26.0M | -3% |
| Other operating costs | $2.1B | $2.3B | −$154M | -7% |
| Net earnings | $2.5B | $2.3B | $208M | +9% |
| Income tax | $702M | $671M | $31.0M | +5% |
| Depreciation & amortization | $118M | $121M | −$3.0M | -2% |
| Share-based compensation | $46.0M | $39.0M | $7.0M | +18% |
| Working capital & other | $381M | $990M | −$609M | -62% |
| Operating cash flow | $3.0B | $3.4B | −$397M | -12% |
| Free cash flow (OCF − capex) | $2.1B | $2.4B | −$270M | -11% |
| Capital expenditures | $884M | $1.0B | −$127M | -13% |
Questions
How much did McDonald's's revenue grow year over year in Q3 2026?
McDonald's's revenue rose $79.0M (+1%) from $7.1B in Q3 2025 to $7.2B in Q3 2026.
What drove McDonald's's revenue change in Q3 2026?
International Developmental Licensed Markets and Corporate +$61.0M (+9%); U.S.