McDonald's Cash Flow Statement
NYSE: MCDConsumer DiscretionaryRestaurantsUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
McDonald's free cash flow
In fiscal 2025, McDonald's generated $10.55 billion of operating cash flow and spent $3.37 billion on capital expenditures. That left free cash flow of $7.19 billion, a free-cash-flow margin of 26.7% of revenue. Free cash flow was up 7.7% from the prior year's $6.67 billion.
McDonald's returned $7.17 billion to shareholders: $5.12 billion in dividends and $2.06 billion in share repurchases, equal to 100% of free cash flow. Free cash flow covered dividend payments 1.4 times.
Summary generated from market data by MetaCap's automated system. Methodology
McDonald's cash flow statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 8.56B | 8.22B | 8.47B | 6.18B | 7.55B | 4.73B | 6.03B | 5.92B | 5.19B | 4.69B |
| Net Income growth (YoY) | +4.13% | -2.90% | +37.11% | -18.13% | +59.50% | -21.49% | +1.71% | +14.10% | +10.79% | +3.47% |
| Depreciation & Amortization | 457.00M | 447.00M | 382.00M | 370.00M | 329.70M | 300.60M | 262.50M | 214.80M | 1.36B | 1.52B |
| Stock-Based Compensation | 165.00M | 172.00M | 175.00M | 167.00M | 139.20M | 92.40M | 109.60M | 125.10M | 117.50M | 131.30M |
| Change in Working Capital | 331.00M | 0 | -111.00M | -233.00M | 534.90M | -144.30M | 200.00K | -350.00M | -400.40M | -69.20M |
| Operating Cash Flow | 10.55B | 9.45B | 9.61B | 7.39B | 9.14B | 6.27B | 8.12B | 6.97B | 5.55B | 6.06B |
| Capital Expenditures | -3.37B | -2.77B | -2.36B | -1.90B | -2.04B | -1.64B | -2.39B | -2.74B | -1.85B | -1.82B |
| Investing Cash Flow | -3.82B | -5.35B | -3.19B | -2.68B | -2.17B | -1.55B | -3.07B | -2.46B | 562.00M | -981.60M |
| Dividends Paid | -5.12B | -4.87B | -4.53B | -4.17B | -3.92B | -3.75B | -3.58B | -3.26B | -3.09B | -3.06B |
| Share Repurchases | -2.06B | -2.82B | -3.05B | -3.90B | -845.50M | -907.80M | -4.98B | -5.21B | -4.69B | -11.17B |
| Debt Issued | 4.72B | 2.38B | 5.22B | 3.37B | 1.15B | 5.54B | 4.50B | 3.79B | 4.73B | 3.78B |
| Debt Repaid | -4.80B | -2.78B | -2.44B | -2.20B | -2.24B | -2.41B | -2.06B | -1.76B | -1.65B | -822.90M |
| Financing Cash Flow | -7.13B | -7.50B | -4.37B | -6.58B | -5.60B | -2.25B | -4.99B | -5.95B | -5.31B | -11.26B |
| Net Change in Cash | -311.00M | -3.49B | 2.00B | -2.13B | 1.26B | 2.55B | 32.50M | -1.60B | 1.07B | -6.29B |
| Free Cash Flow | 7.19B | 6.67B | 7.25B | 5.49B | 7.10B | 4.62B | 5.73B | 4.22B | 3.70B | 4.24B |
This table shows 10 annual periods of McDonald's's cash flow statement, from FY 2025 back to FY 2016, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow MCD's reporting calendar. What is a cash flow statement?