Mcdonalds (MCD) Operating Margin (2009 - 2026)
Mcdonalds' (MCD) quarterly Operating Margin came in at 47.02% in Q2 2026, down 21.0% on a YoY basis from 59.52% in Q2 2025, and up 3.77% quarter-over-quarter from 45.31% in Q1 2026.
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Mcdonalds (MCD) Operating Margin (2009 - 2026) Analysis & Trends
Mcdonalds (MCD) has reported Operating Margin for 18 consecutive years, with 47.02% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Margin fell 21.0% year-over-year to 47.02%; the trailing twelve-month figure through Jun 2026 stood at 46.22% (up 42.0% YoY), and the FY2025 full-year result was 46.1%, up 91.0% from the prior year.
- Operating Margin improved to 47.02% in Q2 2026 per MCD's latest filing, from 45.31% in the prior quarter.
- Across five years, Operating Margin topped out at 47.94% in Q3 2023 and bottomed at 29.93% in Q2 2022.
- Historically, Operating Margin has averaged 44.49% across 5 years, with a median of 45.01% in 2024.
- The sharpest annual moves came in 2022 and 2023: Operating Margin sank 1577 bps in 2022, then soared 1783 bps in 2023.
- Over 5 years, Operating Margin stood at 43.58% in 2022, then advanced by 0 bps to 43.74% in 2023, then grew by 3 bps to 44.9% in 2024, then increased by 0 bps to 45.03% in 2025, then grew by 4 bps to 47.02% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 47.02%, 45.31%, and 45.03% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 179.24 Bn | 178.42 Bn | 6.42 Bn | 47.02% |
| 2 | Starbucks | 113.05 Bn | 109.44 Bn | 6.49 Bn | 10.52% |
| 3 | Chipotle Mexican Grill | 46.20 Bn | 45.52 Bn | 2.35 Bn | 15.70% |
| 4 | Yum Brands | 39.59 Bn | 38.92 Bn | 1.47 Bn | 30.20% |
| 5 | Restaurant Brands International | 26.58 Bn | 25.52 Bn | 1.89 Bn | 28.41% |
| 6 | Restaurant Brands International Limited Partnership | 17.24 Bn | 16.18 Bn | 1.89 Bn | 28.41% |
| 7 | Yum China Holdings | 14.70 Bn | 13.32 Bn | 2.22 Bn | 11.09% |
| 8 | Dominos Pizza | 10.53 Bn | 10.33 Bn | 478.23 Mn | 19.43% |
| 9 | Cava | 6.31 Bn | 5.88 Bn | 95.58 Mn | 7.29% |
| 10 | Dutch Bros | 5.83 Bn | 5.57 Bn | 151.06 Mn | 12.78% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 47.02% |
| Mar 31, 2026 | 45.31% |
| Dec 31, 2025 | 45.03% |
| Sep 30, 2025 | 47.43% |
| Jun 30, 2025 | 47.23% |
| Mar 31, 2025 | 44.46% |
| Dec 31, 2024 | 44.90% |
| Sep 30, 2024 | 46.38% |
| Jun 30, 2024 | 44.99% |
| Mar 31, 2024 | 44.35% |
| Dec 31, 2023 | 43.74% |
| Sep 30, 2023 | 47.94% |
| Jun 30, 2023 | 47.77% |
| Mar 31, 2023 | 42.93% |
| Dec 31, 2022 | 43.58% |
| Sep 30, 2022 | 47.07% |
| Jun 30, 2022 | 29.93% |
| Mar 31, 2022 | 40.82% |
| Dec 31, 2021 | 39.89% |
| Sep 30, 2021 | 48.16% |