Mcdonalds (MCD) Operating Margin (2009 - 2026)
Mcdonalds (MCD) reported Operating Margin of 45.31% for Q1 2026, up 85.0% on a YoY basis from 24.49% in Q1 2025, and up 0.63% quarter-over-quarter from 45.03% in Q4 2025.
Mcdonalds (MCD) Operating Margin (2009 - 2026) Analysis & Trends
Mcdonalds has reported Operating Margin for 18 years, with the latest figure at 45.31% in Q1 2026.
- For the quarter ending Q1 2026, Operating Margin rose 85.0% year-over-year to 45.31%; the trailing twelve-month figure through Mar 2026 stood at 46.26% (up 105.0% YoY), and the FY2025 full-year result was 46.1%, up 91.0% from the prior year.
- Operating Margin for Q1 2026 stood at 45.31%, up from 45.03% in the prior quarter.
- The five-year high for Operating Margin was 47.94% in Q3 2023, with the low at 29.93% in Q2 2022.
- Historically, Operating Margin has averaged 44.34% across 5 years, with a median of 44.99% in 2024.
- Annual changes were most pronounced in 2022 — Operating Margin plunged 1577 bps — and 2023, when it surged 1783 bps.
- Mcdonalds' Operating Margin 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 | Starbucks | 114.58 Bn | 112.88 Bn | 9.40 Bn | 8.69% |
| 2 | Chipotle Mexican Grill | 42.15 Bn | 41.28 Bn | 2.61 Bn | 12.86% |
| 3 | Yum Brands | 42.13 Bn | 41.44 Bn | 1.38 Bn | 31.28% |
| 4 | Restaurant Brands International | 25.46 Bn | 25.99 Bn | 2.14 Bn | 26.77% |
| 5 | Darden Restaurants | 24.75 Bn | 24.51 Bn | 3.31 Bn | 12.15% |
| 6 | Yum China Holdings | 15.17 Bn | 13.74 Bn | 3.24 Bn | 13.67% |
| 7 | Texas Roadhouse | 11.72 Bn | 11.53 Bn | 1.40 Bn | 8.96% |
| 8 | Dominos Pizza | 10.51 Bn | 10.28 Bn | 464.51 Mn | 20.02% |
| 9 | Cava | 10.34 Bn | 9.94 Bn | 797.57 Mn | 1.02% |
| 10 | Mcdonalds | 198,669.08 | -1.17 Bn | 5.84 Bn | 45.31% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 45.71% |