Mcdonalds (MCD) Operating Margin (2009 - 2026)
Mcdonalds' (MCD) quarterly Operating Margin came in at 45.31% in Q1 2026, up 85.0% YoY from 24.49% in Q1 2025, and up 0.63% on a QoQ basis from 45.03% in Q4 2025.
Mcdonalds (MCD) Operating Margin (2009 - 2026) Analysis & Trends
Mcdonalds (MCD) has 18 years of Operating Margin data on file, last reported at 45.31% in Q1 2026.
- Quarterly Operating Margin rose 85.0% year-over-year to 45.31% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 46.26% (up 105.0% YoY) and the FY2025 annual result came in at 46.1%, up 91.0% from the prior year.
- Operating Margin climbed to 45.31% in Q1 2026, from 45.03% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 47.94% in Q3 2023 to a low of 29.93% in Q2 2022.
- A 5-year average of 44.34% and a median of 44.99% in 2024 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2022 — Operating Margin plunged 1577 bps — and 2023, when it surged 1783 bps.
- Tracing MCD's Operating Margin over 5 years: stood at 43.58% in 2022, then rose by 0 bps to 43.74% in 2023, then advanced by 3 bps to 44.9% in 2024, then climbed by 0 bps to 45.03% in 2025, then increased by 1 bps to 45.31% in 2026.
- The last three Operating Margin figures came in at 45.31% (Q1 2026), 45.03% (Q4 2025), and 47.43% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 192.15 Bn | 191.33 Bn | 6.42 Bn | 47.02% |
| 2 | Starbucks | 122.32 Bn | 118.71 Bn | 6.49 Bn | 10.52% |
| 3 | Chipotle Mexican Grill | 46.99 Bn | 46.31 Bn | 2.35 Bn | 15.70% |
| 4 | Yum Brands | 42.11 Bn | 41.44 Bn | 1.47 Bn | 30.20% |
| 5 | Restaurant Brands International | 28.08 Bn | 27.02 Bn | 1.89 Bn | 28.41% |
| 6 | Darden Restaurants | 25.61 Bn | 25.39 Bn | 3.68 Bn | 13.90% |
| 7 | Restaurant Brands International Limited Partnership | 17.24 Bn | 16.18 Bn | 1.89 Bn | 28.41% |
| 8 | Yum China Holdings | 17.21 Bn | 15.83 Bn | 2.22 Bn | 11.09% |
| 9 | Texas Roadhouse | 13.43 Bn | 13.22 Bn | 1.44 Bn | 8.50% |
| 10 | Dominos Pizza | 11.33 Bn | 11.13 Bn | 478.23 Mn | 19.43% |
Historic Data
Download 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% |