McDonald's Corporation (MCD) balance sheet
NYSE · Consumer Cyclical · Restaurants · 150,000 employees · CEO Christopher J. Kempczinski
- Price
- $258.12 +0.29%
- Market cap
- $183B
- Enterprise value
- $236B
- Last report
- Q2 '26 filed 2026-08-07
- Next report
- 2026-11-04 EPS est. $3.38
At the end of Q2 '26 McDonald's Corporation (MCD) held $822M in cash and short-term investments against $54.6B of debt incl. leases. Total assets $59.9B, total liabilities $60.9B, shareholders' equity -$1.02B.
Balance sheet
| Balance sheet | Trend | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||||
| Cash & equivalents | $3.5B | $4.58B | $838M | $792M | $1.22B | $1.09B | $1.24B | $1.88B | $2.41B | $774M | $1.17B | $822M | |
| Receivables | $2.25B | $2.49B | $2.24B | $2.4B | $2.46B | $2.38B | $2.39B | $2.55B | $2.58B | $2.47B | $2.43B | $2.49B | |
| Inventory | $47.6M | $53M | $46M | $46M | $54M | $56M | $51M | $55M | $55M | $61M | $61M | $58M | |
| Other current assets | $1.06B | $866M | $935M | $963M | $1.18B | $1.08B | $1.06B | $1.12B | $1.03B | $862M | $1.05B | $0 | |
| Current assets | $6.85B | $7.99B | $4.06B | $4.21B | $4.91B | $4.6B | $4.74B | $5.6B | $6.08B | $4.16B | $4.71B | $4.35B | |
| Property, plant & equipment (net) | $36.2B | $38.4B | $38B | $38B | $39.4B | $38.6B | $39.4B | $41.3B | $41.8B | $42.8B | $42.8B | $28.5B | |
| Long-term investments | $1.04B | $1.08B | $2.88B | $2.88B | $2.96B | $2.71B | $2.75B | $2.83B | $2.86B | $2.95B | $2.87B | $0 | |
| Goodwill | $2.97B | $3.04B | $3.03B | $3.05B | $3.22B | $3.15B | $3.19B | $3.31B | $3.31B | $3.35B | $3.35B | $3.35B | |
| Intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.06B | $0 | $0 | |
| Deferred tax assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.26B | $0 | $0 | |
| Other non-current assets | $5.06B | $5.62B | $5.59B | $5.63B | $5.67B | $6.1B | $6.27B | $6.49B | $6.59B | $1.89B | $6.36B | $23.7B | |
| Non-current assets | $45.2B | $48.2B | $49.5B | $49.6B | $51.3B | $50.6B | $51.6B | $54B | $54.5B | $55.4B | $55.3B | $55.6B | |
| Total assets | $52.1B | $56.1B | $53.5B | $53.8B | $56.2B | $55.2B | $56.3B | $59.6B | $60.6B | $59.5B | $60B | $59.9B | |
| Liabilities | |||||||||||||
| Accounts payable | $862M | $1.1B | $936M | $949M | $944M | $1.03B | $882M | $838M | $972M | $1.15B | $1.09B | $1.11B | |
| Accrued expenses | $1.69B | $1.9B | $1.51B | $1.56B | $1.79B | $1.61B | $1.59B | $1.9B | $2B | $2.02B | $1.71B | $1.2B | |
| Short-term debt | $0 | $2.19B | $604M | $0 | $596M | $0 | $80M | $602M | $1.8B | $0 | $0 | $0 | |
| Taxes payable | $778M | $973M | $1.15B | $743M | $1.05B | $585M | $791M | $24M | $285M | $0 | $391M | $327M | |
| Other current liabilities | $0 | $0 | $1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$1M | $588M | |
| Current liabilities | $4B | $6.86B | $4.89B | $3.91B | $6.31B | $3.86B | $4.01B | $4.3B | $6.08B | $4.36B | $4.15B | $4.02B | |
| Long-term debt | $37.3B | $37.2B | $36.8B | $38.5B | $39B | $38.4B | $38.8B | $40.8B | $39.5B | $40B | $40.1B | $39.9B | |
| Lease obligations (non-current) | $11.8B | $13.1B | $12.8B | $12.8B | $13.2B | $12.9B | $13.2B | $13.8B | $13.8B | $14.1B | $14.1B | $14B | |
| Deferred revenue (non-current) | $768M | $790M | $784M | $791M | $800M | $778M | $914M | $933M | $936M | $945M | $946M | $946M | |
| Deferred tax liabilities | $1.62B | $1.68B | $1.8B | $1.61B | $1.17B | $1.91B | $1.72B | $1.42B | $1.46B | $1.04B | $1.22B | $1.22B | |
| Other non-current liabilities | $1.47B | $1.31B | $1.29B | $970M | $928M | $1.11B | $1.12B | $1.08B | $979M | $842M | $837M | $855M | |
| Non-current liabilities | $52.9B | $54B | $53.5B | $54.7B | $55B | $55.1B | $55.8B | $58B | $56.7B | $56.9B | $57.2B | $56.9B | |
| Total liabilities | $56.9B | $60.9B | $58.3B | $58.6B | $61.3B | $59B | $59.8B | $62.3B | $62.8B | $61.3B | $61.3B | $60.9B | |
| Equity | |||||||||||||
| Common stock & paid-in capital | $16.6M | $17M | $17M | $17M | $17M | $17M | $17M | $17M | $17M | $17M | $17M | $17M | |
| Retained earnings | $62.6B | $63.5B | $64.2B | $65B | $64.8B | $66.8B | $67.4B | $68.4B | $69.4B | $70.3B | $70.9B | $72B | |
| Accumulated other comprehensive income | -$2.55B | -$2.46B | -$2.53B | -$2.46B | -$2.34B | -$2.55B | -$2.56B | -$2.43B | -$2.41B | -$2.41B | -$2.36B | -$2.34B | |
| Shareholders' equity | -$4.85B | -$4.71B | -$4.83B | -$4.82B | -$5.18B | -$3.8B | -$3.45B | -$2.76B | -$2.16B | -$1.79B | -$1.29B | -$1.02B | |
| Debt | |||||||||||||
| Total debt (incl. leases) | $49.7B | $53.1B | $50.9B | $52B | $53.4B | $51.9B | $52.8B | $55.9B | $55.8B | $54.8B | $54.9B | $54.6B | |
| Net debt (debt - cash) | $46.3B | $48.5B | $50B | $51.2B | $52.2B | $50.9B | $51.5B | $54B | $53.4B | $54B | $53.7B | $53.8B | |
| Balance sheet | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & equivalents | $1.22B | $2.46B | $866M | $899M | $3.45B | $4.71B | $2.58B | $4.58B | $1.09B | $774M | |
| Receivables | $1.47B | $1.98B | $2.44B | $2.22B | $2.11B | $1.87B | $2.12B | $2.49B | $2.38B | $2.47B | |
| Inventory | $58.9M | $58.8M | $51.1M | $50.2M | $51.1M | $55.6M | $52M | $53M | $56M | $61M | |
| Other current assets | $1.53B | $0 | $0 | $0 | $0 | $0 | $673M | $866M | $1.08B | $862M | |
| Current assets | $4.85B | $5.33B | $4.05B | $3.56B | $6.24B | $7.15B | $5.42B | $7.99B | $4.6B | $4.16B | |
| Property, plant & equipment (net) | $21.3B | $22.4B | $22.8B | $37.4B | $38.8B | $38.3B | $36.3B | $38.4B | $38.6B | $42.8B | |
| Long-term investments | $726M | $1.09B | $1.2B | $1.27B | $1.3B | $1.2B | $1.06B | $1.08B | $2.71B | $2.95B | |
| Goodwill | $2.34B | $2.38B | $2.33B | $2.68B | $2.77B | $2.78B | $2.9B | $3.04B | $3.15B | $3.35B | |
| Intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.06B | |
| Deferred tax assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.26B | |
| Other non-current assets | $1.86B | $2.56B | $2.38B | $2.58B | $3.53B | $4.45B | $4.71B | $5.62B | $6.1B | $1.89B | |
| Non-current assets | $26.2B | $28.5B | $28.8B | $44B | $46.4B | $46.7B | $45B | $48.2B | $50.6B | $55.4B | |
| Total assets | $31B | $33.8B | $32.8B | $47.5B | $52.6B | $53.9B | $50.4B | $56.1B | $55.2B | $59.5B | |
| Liabilities | |||||||||||
| Accounts payable | $756M | $925M | $1.21B | $988M | $741M | $1.01B | $980M | $1.1B | $1.03B | $1.15B | |
| Accrued expenses | $1.41B | $1.42B | $1.28B | $1.37B | $1.53B | $1.71B | $1.63B | $1.9B | $1.61B | $2.02B | |
| Short-term debt | $77.2M | $0 | $0 | $59.1M | $2.24B | $0 | $0 | $2.19B | $0 | $0 | |
| Taxes payable | $534M | $541M | $482M | $579M | $968M | $597M | $530M | $973M | $585M | $0 | |
| Other current liabilities | $695M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Current liabilities | $3.47B | $2.89B | $2.97B | $3.62B | $6.18B | $4.02B | $3.8B | $6.86B | $3.86B | $4.36B | |
| Long-term debt | $25.9B | $29.5B | $31.1B | $34.1B | $35.2B | $35.6B | $35.9B | $37.2B | $38.4B | $40B | |
| Lease obligations (non-current) | $0 | $0 | $0 | $12.8B | $13.3B | $13B | $12.1B | $13.1B | $12.9B | $14.1B | |
| Deferred revenue (non-current) | $0 | $0 | $628M | $661M | $702M | $738M | $758M | $790M | $778M | $945M | |
| Deferred tax liabilities | $1.82B | $1.12B | $1.22B | $1.32B | $2.03B | $2.08B | $2B | $1.68B | $1.91B | $1.04B | |
| Other non-current liabilities | $2.06B | $3.53B | $3.18B | $3.25B | $3.02B | $2.98B | $1.84B | $1.31B | $1.11B | $842M | |
| Non-current liabilities | $29.8B | $34.2B | $36.1B | $52.1B | $54.3B | $54.4B | $52.6B | $54B | $55.1B | $56.9B | |
| Total liabilities | $33.2B | $37.1B | $39.1B | $55.7B | $60.5B | $58.5B | $56.4B | $60.9B | $59B | $61.3B | |
| Equity | |||||||||||
| Common stock & paid-in capital | $16.6M | $16.6M | $16.6M | $16.6M | $16.6M | $16.6M | $16.6M | $17M | $17M | $17M | |
| Retained earnings | $46.2B | $48.3B | $50.5B | $52.9B | $53.9B | $57.5B | $59.5B | $63.5B | $66.8B | $70.3B | |
| Accumulated other comprehensive income | -$3.09B | -$2.18B | -$2.61B | -$2.48B | -$2.59B | -$2.57B | -$2.49B | -$2.46B | -$2.55B | -$2.41B | |
| Shareholders' equity | -$2.2B | -$3.27B | -$6.26B | -$8.21B | -$7.82B | -$4.6B | -$6B | -$4.71B | -$3.8B | -$1.79B | |
| Debt | |||||||||||
| Total debt (incl. leases) | $26B | $29.5B | $31.1B | $47.6B | $51.5B | $49.3B | $48.7B | $53.1B | $51.9B | $54.8B | |
| Net debt (debt - cash) | $24.7B | $27.1B | $30.2B | $46.7B | $48B | $44.6B | $46.1B | $48.5B | $50.9B | $54B | |
Standardised by Financial Modeling Prep from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Cash, investments and debt
quarter endsThe other statements
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-01