TTM
46.0%
YoY change
+0.91pp
Trough year (2002)
13.7%
Peak year (2025)
46.1%
Latest annual
46.1%
Operating Margin history chart for McDonald's (MCD) from 1985 to 2025
Latest: 46.1%
Operating Margin change chart for McDonald's (MCD) from 1985 to 2025
Latest: +0.91pp
Operating Margin history table for McDonald's (MCD) from 1985 to 2025
| 2025 | 46.1% | +0.91pp | ||
| 2024 | 45.2% | -0.50pp | ||
| 2023 | 45.7% | +5.26pp | ||
| 2022 | 40.4% | -4.17pp | ||
| 2021 | 44.6% | +6.46pp | ||
| 2020 | 38.1% | -4.32pp | ||
| 2019 | 42.5% | +0.95pp | ||
| 2018 | 41.5% | -0.36pp | ||
| 2017 | 41.9% | +10.41pp | ||
| 2016 | 31.5% | +3.34pp | ||
| 2015 | 28.1% | -0.85pp | ||
| 2014 | 29.0% | -2.22pp | ||
| 2013 | 31.2% | -0.03pp | ||
| 2012 | 31.2% | -0.37pp | ||
| 2011 | 31.6% | +0.54pp | ||
| 2010 | 31.0% | +0.96pp | ||
| 2009 | 30.1% | +2.69pp | ||
| 2008 | 27.4% | +10.37pp | ||
| 2007 | 17.0% | -4.19pp | ||
| 2006 | 21.2% | +0.38pp | ||
| 2005 | 20.8% | +1.81pp | ||
| 2004 | 19.0% | +2.50pp | ||
| 2003 | 16.5% | +2.81pp | ||
| 2002 | 13.7% | -4.42pp | ||
| 2001 | 18.1% | -3.86pp | ||
| 2000 | 22.0% | -2.24pp | ||
| 1999 | 24.2% | -0.10pp | ||
| 1998 | 24.3% | +0.72pp | ||
| 1997 | 23.6% | -0.59pp | ||
| 1996 | 24.2% | -1.27pp | ||
| 1995 | 25.5% | -0.45pp | ||
| 1994 | 25.9% | -0.02pp | ||
| 1993 | 25.9% | +0.74pp | ||
| 1992 | 25.2% | +1.83pp | ||
| 1991 | 23.4% | +0.77pp | ||
| 1990 | 22.6% | -1.15pp | ||
| 1989 | 23.8% | +0.69pp | ||
| 1988 | 23.1% | -0.68pp | ||
| 1987 | 23.7% | +1.43pp | ||
| 1986 | 22.3% | -0.89pp | ||
| 1985 | 23.2% | — |
- 202546.1%+0.91pp
- 202445.2%-0.50pp
- 202345.7%+5.26pp
- 202240.4%-4.17pp
- 202144.6%+6.46pp
- 202038.1%-4.32pp
- 201942.5%+0.95pp
- 201841.5%-0.36pp
- 201741.9%+10.41pp
- 201631.5%+3.34pp
- 201528.1%-0.85pp
- 201429.0%-2.22pp
- 201331.2%-0.03pp
- 201231.2%-0.37pp
- 201131.6%+0.54pp
- 201031.0%+0.96pp
- 200930.1%+2.69pp
- 200827.4%+10.37pp
- 200717.0%-4.19pp
- 200621.2%+0.38pp
- 200520.8%+1.81pp
- 200419.0%+2.50pp
- 200316.5%+2.81pp
- 200213.7%-4.42pp
- 200118.1%-3.86pp
- 200022.0%-2.24pp
- 199924.2%-0.10pp
- 199824.3%+0.72pp
- 199723.6%-0.59pp
- 199624.2%-1.27pp
- 199525.5%-0.45pp
- 199425.9%-0.02pp
- 199325.9%+0.74pp
- 199225.2%+1.83pp
- 199123.4%+0.77pp
- 199022.6%-1.15pp
- 198923.8%+0.69pp
- 198823.1%-0.68pp
- 198723.7%+1.43pp
- 198622.3%-0.89pp
- 198523.2%—
Operating Margin values are taken from McDonald's's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at McDonald's (MCD)
According to McDonald's's latest reported financial statements, the company's latest reported operating margin is 46.0%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
McDonald's (MCD) most recent annual operating margin stands at 46.10% (2025) – expanded 0.9 percentage points year-over-year.
The record annual operating margin stands at 46.10%, reached in 2025; the historical low of 13.72% was recorded in 2002.
McDonald's Operating Margin by Year
McDonald's Operating Margin 2025: 46.1%
2025's operating margin for McDonald's came in at 46.10%, expanded 0.9 percentage points from 2024. This figure represents the highest annual value in the available history.
McDonald's Operating Margin 2024: 45.2%
McDonald's posted operating margin of 45.19% in 2024, contracted 0.5 percentage points from 2023.
McDonald's Operating Margin 2023: 45.7%
In 2023, McDonald's reported operating margin of 45.68%, expanded 5.3 percentage points from 2022.
McDonald's Operating Margin 2022: 40.4%
McDonald's operating margin in 2022 was 40.42%, contracted 4.2 percentage points from 2021.
McDonald's Operating Margin 2021: 44.6%
McDonald's operating margin in 2021 was 44.59%.
See more financial history for McDonald's (MCD).
Sector peers by Operating Margin
Consumer Cyclical peers of McDonald's (MCD), ranked by their latest operating margin
| 34.3% | |
| 22.2% | |
| 12.4% | |
| 12.4% | |
| 11.5% | |
| 11.5% | |
| 5.8% | |
| 5.0% |
- 22.2%
- 12.4%
- 12.4%
- 11.5%
- 5.8%
- 5.0%
Frequently asked questions
McDonald's (MCD) Key Financials
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