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McDonald's $MCD

Consumer Discretionary · Restaurants · NYSE/NASDAQ

S&P 500 Dow Jones Russell 1000 Illinois

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$246.32

+3.65 (+1.50%)

As of Oct 20, 2026, 12:07 PM EDT

Price history

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Today's analyst average Analyst average over timeIndividual analyst targets Analyst history starts Jul 23, 2026, the first target we tracked for MCD.

Key facts

52-week range (closes): $230.88 – $341.06 Lowest close Oct 7, 2026, highest Feb 27, 2026; 251 daily closes to Oct 13, 2026 from Dalsna Finance's price archive
Fiscal year ends: December Fiscal 2025 ended Dec 31, 2025, from SEC filings
In the S&P 500 since: Jun 30, 1970 · All S&P 500 changes
In the Dow since: Oct 30, 1985 · All Dow changes
Analyst coverage: 9 open price targets from 8 firms: TD Cowen, Bernstein, BTIG, Evercore ISI, Melius Research, Morgan Stanley, UBS, Wells Fargo Approved targets tracked here; see the analyst section below

McDonald's (MCD) is trading up at $246.32 (+1.50%) on NYSE/NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Consumer Discretionary sector.

Analyst price targets on MCD

Current price targets from 8 firms average $291, median $284, ranging from $230 to $350 — the average is 18% above the current $246. Each is tracked to its date and scored the same way a member's call is.

Bernstein $236 → $250 by Oct 2027 Oct 8, 2026 via Stocktwits · Bernstein's track record
Wells Fargo $233 → $270 by Oct 2027 Oct 6, 2026 via AD HOC NEWS · Wells Fargo's track record
TD Cowen $232 → $270 by Oct 2027 Hold Oct 3, 2026 via Stocktwits · TD Cowen's track record
Morgan Stanley $232 → $297 by Oct 2027 Equal Weight Oct 1, 2026 via Stocktwits · Morgan Stanley's track record
Melius Research $232 → $230 by Oct 2027 Sell Oct 1, 2026 via Stocktwits · Melius Research's track record
TD Cowen $234 → $270 by Sep 2027 Hold Sep 28, 2026 via TradingView · TD Cowen's track record
UBS $271 → $340 by Jul 2027 Buy Jul 27, 2026 via GuruFocus · UBS's track record
BTIG $265 → $350 by Jul 2027 Jul 24, 2026 via GuruFocus · BTIG's track record
Evercore ISI $263 → $320 by Jul 2027 Outperform Jul 23, 2026 via GuruFocus · Evercore ISI's track record

Targets published by research firms, extracted from the news, checked against independent reporting, and linked to their source. Where a firm did not state a horizon the target is tracked as 12 months, the industry convention; the rows where the firm set its own horizon are marked. Reported here as facts about what was published — not recommendations from Dalsna Finance, and no firm listed is affiliated with this site.

McDonald's revenue & net income history (FY2016–FY2025)

RevenueNet incomeNet margin (right axis, %)

McDonald's annual financial statements
	FY2016Dec 2016	FY2017Dec 2017	FY2018Dec 2018	FY2019Dec 2019	FY2020Dec 2020	FY2021Dec 2021	FY2022Dec 2022	FY2023Dec 2023	FY2024Dec 2024	FY2025Dec 2025
Income statement
Revenue	$24.6B	$22.8B	$21.3B	$21.4B	$19.2B	$23.2B	$23.2B	$25.5B	$25.9B	$26.9B
Growth (year over year)	−3.1%	−7.3%	−6.8%	+0.5%	−10.1%	+20.9%	−0.2%	+10.0%	+1.7%	+3.7%
Operating income	$7.74B	$9.55B	$8.82B	$9.07B	$7.32B	$10.4B	$9.37B	$11.6B	$11.7B	$12.4B
Operating margin	31.5%	41.9%	41.5%	42.5%	38.1%	44.6%	40.4%	45.7%	45.2%	46.1%
Net income	$4.69B	$5.19B	$5.92B	$6.03B	$4.73B	$7.55B	$6.18B	$8.47B	$8.22B	$8.56B
Net margin	19.0%	22.8%	27.9%	28.2%	24.6%	32.5%	26.6%	33.2%	31.7%	31.9%
EPS (diluted)	$5.44	$6.37	$7.54	$7.88	$6.31	$10.04	$8.33	$11.56	$11.39	$11.95
Balance sheet
Cash and equivalents	$1.22B	$2.46B	$866.0M	$898.5M	$3.45B	$4.71B	$2.58B	$4.58B	$1.08B	$774.0M
Total assets	$31.0B	$33.8B	$32.8B	$47.5B	$52.6B	$53.9B	$50.4B	$56.1B	$55.2B	$59.5B
Total liabilities	$33.2B	$37.1B	$39.1B	$55.7B	$60.5B	$58.5B	$56.4B	$60.9B	$59.0B	$61.3B
Long-term debt	$25.9B	$29.5B	$31.1B	$34.1B	$35.2B	$35.6B	$35.9B	$37.2B	$38.4B	$40.0B
Shareholders' equity	−$2.20B	−$3.27B	−$6.26B	−$8.21B	−$7.82B	−$4.60B	−$6.00B	−$4.71B	−$3.80B	−$1.79B
Cash flow
Operating cash flow	$6.06B	$5.55B	$6.97B	$8.12B	$6.27B	$9.14B	$7.39B	$9.61B	$9.45B	$10.6B
Capital expenditure	$1.82B	$1.85B	$2.74B	$2.39B	$1.64B	$2.04B	$1.90B	$2.36B	$2.77B	$3.37B
Free cash flow	$4.24B	$3.70B	$4.22B	$5.73B	$4.62B	$7.10B	$5.49B	$7.25B	$6.67B	$7.19B
Dividends paid	$3.06B	$3.09B	$3.26B	$3.58B	$3.75B	$3.92B	$4.17B	$4.53B	$4.87B	$5.12B
Share buybacks	$11.2B	$4.69B	$5.21B	$4.98B	$907.8M	$845.5M	$3.90B	$3.05B	$2.82B	$2.06B

RevenueNet incomeNet margin (right axis, %)

McDonald's quarterly financial statements
	Q3 FY24Sep 2024	Q4 FY24^†Dec 2024	Q1 FY25Mar 2025	Q2 FY25Jun 2025	Q3 FY25Sep 2025	Q4 FY25^†Dec 2025	Q1 FY26Mar 2026	Q2 FY26Jun 2026
Income statement
Revenue	$6.87B	$6.39B	$5.96B	$6.84B	$7.08B	$7.01B	$6.52B	$7.10B
Growth (year over year)	+2.7%	−0.3%	−3.5%	+5.4%	+3.0%	+9.7%	+9.4%	+3.7%
Gross profit	$6.23B	—	$5.34B	$6.19B	$6.41B	—	$5.84B	$6.42B
Gross margin	90.6%	—	89.6%	90.4%	90.6%	—	89.6%	90.4%
Operating income	$3.19B	$2.87B	$2.65B	$3.23B	$3.36B	$3.16B	$2.95B	$3.34B
Operating margin	46.4%	44.9%	44.5%	47.2%	47.4%	45.0%	45.3%	47.0%
Net income	$2.25B	$2.02B	$1.87B	$2.25B	$2.28B	$2.16B	$1.98B	$2.36B
Net margin	32.8%	31.6%	31.4%	32.9%	32.2%	30.9%	30.4%	33.3%
EPS (diluted)	$3.13	$2.80	$2.60	$3.14	$3.18	$3.03	$2.78	$3.32
Balance sheet
Cash and equivalents	$1.22B	$1.08B	$1.24B	$1.88B	$2.41B	$774.0M	$1.17B	$822.0M
Total assets	$56.2B	$55.2B	$56.3B	$59.6B	$60.6B	$59.5B	$60.0B	$59.9B
Total liabilities	$61.3B	$59.0B	$59.8B	$62.3B	$62.8B	$61.3B	$61.3B	$60.9B
Long-term debt	$39.0B	$38.4B	$38.8B	$40.8B	$39.5B	$40.0B	$40.1B	$39.9B
Shareholders' equity	−$5.18B	−$3.80B	−$3.45B	−$2.76B	−$2.16B	−$1.79B	−$1.29B	−$1.02B
Cash flow
Operating cash flow	$2.74B	$2.63B	$2.43B	$2.00B	$3.43B	$2.70B	$2.41B	$2.81B
Capital expenditure	$794.0M	$806.0M	$551.0M	$744.0M	$1.01B	$1.06B	$682.0M	$831.0M
Free cash flow	$1.94B	$1.83B	$1.88B	$1.25B	$2.42B	$1.64B	$1.73B	$1.98B
Dividends paid	$1.20B	$1.27B	$1.27B	$1.26B	$1.26B	$1.32B	$1.32B	$1.32B
Share buybacks	$469.0M	$503.0M	$477.0M	$505.0M	$501.0M	$573.0M	$396.0M	$856.0M

From McDonald's's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →

McDonald's vs the Consumer Discretionary sector and the S&P 500

McDonald's's latest reported figures next to the median of the other 46 S&P 500 Consumer Discretionary companies and of the other 502 S&P 500 companies; each median is taken over the companies with a comparable figure (counts in the footnote). A median is the middle value, not an average, so one very large company does not move it.

McDonald's compared with the median Consumer Discretionary company and the median S&P 500 company
Measure	McDonald's	Consumer Discretionary (46 other S&P 500 companies)	S&P 500 (502 other companies)
Revenue growth, latest fiscal year	+3.7%	+5.2%	+7.0%
Net margin, latest fiscal year	31.9%	9.7%	12.9%
Dividend per share, latest fiscal year	$7.17	$2.08	$2.40
Share price change, 1 year	−21.2%	−9.2%	+5.9%

McDonald's: fiscal year ended December 2025, from its 10-K and 10-Q filings with the SEC. Medians computed October 20, 2026 from each company's latest annual filing (fiscal years ending between July 2025 and September 2026) and our price archive. Prices for every company, McDonald's included, are the last regular-session prices of October 19, 2026; the 1-year change compares that price with each company's last close on or before October 20, 2025. Net margin and price change are our calculations from reported figures. Each median counts only the companies with a comparable figure (sector / S&P 500): revenue growth 46/496, net margin 46/496, dividend per share 26/349, 1-year price change 46/490; the reasons below can overlap. 12 are left out of the price figure because our archive holds no comparable close for them; dividend medians are among the 26 sector and 349 S&P 500 companies reporting a per-share dividend. The S&P 500 price figure is the middle company's change, not the index's return.

About McDonald's

McDonald's Corporation is an American multinational fast food restaurant chain. Founded in 1940 as a restaurant operated by brothers Richard and Maurice McDonald in San Bernardino, California, the company has grown into one of the world's largest restaurant chains. At the end of 2025, the McDonald's system comprised 45,356 restaurants in more than 100 countries, approximately 95% of which were operated by franchisees.

Source: Wikipedia — McDonald's