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McDonald's

McDonald's (MCD) Q4 2025 Earnings

Reported Feb 11, 2026 at 11:02 AM ET · SEC Source

Q4 25 EPS

$3.12

BEAT +2.22%

Est. $3.05

Q4 25 Revenue

$7.01B

BEAT +2.50%

Est. $6.84B

vs S&P Since Q4 25

-26.1%

TRAILING MARKET

MCD -16.5% vs S&P +9.6%

Full Year 2025 Results

FY 25 EPS

$12.20

BEAT +0.49%

Est. $12.14

FY 25 Revenue

$26.89B

BEAT +0.73%

Est. $26.69B

Market Reaction

Did MCD Beat Earnings? Q4 2025 Results

McDonald's closed out fiscal 2025 on a high note, posting fourth-quarter earnings per share of $3.12 against a consensus estimate of $3.04, a 2.63% beat, while revenue of $7.01 billion topped expectations of $6.82 billion by 2.85% and climbed 9.7% ye… Read more McDonald's closed out fiscal 2025 on a high note, posting fourth-quarter earnings per share of $3.12 against a consensus estimate of $3.04, a 2.63% beat, while revenue of $7.01 billion topped expectations of $6.82 billion by 2.85% and climbed 9.7% year over year. The headline driver was a sharp rebound in global comparable sales, which rose 5.7% in the quarter, a dramatic acceleration from the 0.4% comp recorded in Q4 2024, with U.S. Comparable sales jumping 6.8% as both guest counts and average check moved higher, reversing a 1.4% decline in the prior-year period. CEO Chris Kempczinski credited the company's value leadership strategy and strengthened affordability scores for drawing customers back through the door, with positive global comparable guest counts signaling genuine traffic recovery. Loyalty program momentum added further depth to the results, with annual sales to members approaching $37.00 billion. Looking ahead, McDonald's expects net restaurant unit expansion to contribute roughly 2.5% to systemwide sales growth, with analysts at multiple firms raising price targets following the print.

Key Takeaways

  • • Global comparable sales increased 5.7% in Q4 with positive comparable guest counts across all segments
  • • U.S. comparable sales increased 6.8%, driven by positive check and guest count growth from successful marketing promotions
  • • International Operated Markets comparable sales increased 5.2%, led by the U.K., Germany and Australia
  • • International Developmental Licensed Markets comparable sales increased 4.5%, led by Japan
  • • Higher sales-driven franchised margins across all segments drove operating income growth
  • • Loyalty program Systemwide sales grew 20% to nearly $37 billion with 90-day active users up 19% to nearly 210 million
  • • Franchised margins represented approximately 90% of restaurant margin dollars
24/7 Wall St

MCD YoY Financials

Q4 2025 vs Q4 2024, source: SEC Filings

24/7 Wall St

MCD Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26
24/7 Wall St

MCD Revenue by Geography

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“McDonald's value leadership is working. By listening to customers and taking action, we have improved traffic and strengthened our value & affordability scores. That focus helped increase global systemwide sales by 8% and delivered strong comp sales growth across all segments this quarter. The momentum we've built reinforces the progress we've made with our strategy and has earned us the right to look forward together as a system.”

— Chris Kempczinski, Q4 2025 Earnings Press Release

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