• Global comparable sales in the fourth quarter increased 5.7%, with positive global comparable guest counts and strong comparable sales growth across all segments
• Global Systemwide sales* for the full year increased 7% (5% in constant currencies) to over $139 billion, or growth of
$9 billion ($7 billion in constant currencies)
• Across 70 loyalty markets, Systemwide sales to loyalty members for the full year increased 20% to nearly $37 billion, with 90-day active loyalty users up 19% to nearly 210 million as of year-end
CHICAGO, IL – McDonald’s Corporation today announced results for the fourth quarter and year ended December 31, 2025. “McDonald’s value leadership is working,” said Chairman and CEO Chris Kempczinski. “By listening to customers and taking
action, we have improved traffic and strengthened our value & affordability scores. That focus helped increase global systemwide sales by 8% and delivered strong comp sales growth across all segments this quarter. The momentum we’ve built reinforces the progress we’ve made with our strategy and has earned us the right to look forward together as a system.”
Fourth quarter financial performance:
• Global comparable sales increased 5.7%:
• U.S. increased 6.8%
• International Operated Markets increased 5.2%
• International Developmental Licensed Markets increased 4.5%
• Consolidated revenues increased 10% (6% in constant currencies).
• Systemwide sales increased 11% (8% in constant currencies).
• Consolidated operating income increased 10% (6% in constant currencies). Results included pre-tax charges of $80 million primarily related to restructuring charges associated with Accelerating the Organization. Excluding these current year charges, as well as prior year pre-tax net charges of $3 million, consolidated operating income increased 13% (9% in constant currencies).**
• Diluted earnings per share was $3.03, an increase of 8% (5% in constant currencies). Excluding the current year charges described above of $0.09 per share, diluted earnings per share was $3.12, an increase of 10% (7% in constant currencies) when also excluding prior year charges.**
• The Company declared a 5% increase in its quarterly cash dividend to $1.86 per share.
Full year financial performance:
• Global comparable sales increased 3.1%:
• U.S. increased 2.1%
• International Operated Markets increased 3.2%
• International Developmental Licensed Markets increased 4.6%
• Consolidated revenues increased 4% (2% in constant currencies).
• Systemwide sales increased 7% (5% in constant currencies).
• Consolidated operating income increased 6% (4% in constant currencies). Results included net pre-tax charges of $229 million primarily related to restructuring charges associated with Accelerating the Organization. Excluding these current year charges, as well as prior year net pre-tax charges of $291 million, consolidated operating income increased 5% (3% in constant currencies).**
• Diluted earnings per share was $11.95, an increase of 5% (4% in constant currencies). Excluding the current year charges described above of $0.25 per share, diluted earnings per share was $12.20, an increase of 4% (3% in constant currencies) when also excluding prior year charges.**
COMPARABLE SALES
Increase/(Decrease) Quarters Ended December 31,
• U.S.: Comparable sales were driven by positive check and guest count growth primarily from successful marketing promotions.
• International Operated Markets: Nearly all markets reflected positive comparable sales, led by the U.K., Germany and Australia.
• International Developmental Licensed Markets: Positive comparable sales were led by Japan, with all geographic regions reflecting positive comparable sales.
Results for 2025 included the following:
• Net pre-tax charges of $80 million, or $0.09 per share, for the quarter and $229 million, or $0.25 per share, for the year, primarily related to restructuring charges associated with the Company’s internal effort to modernize ways of working (Accelerating the Organization)
Results for 2024 included the following:
• Pre-tax charges of $74 million, or $0.10 per share, for the quarter and $221 million, or $0.25 per share, for the year, primarily related to restructuring charges associated with Accelerating the Organization
• Net pre-tax gains of $71 million, or $0.07 per share, for the quarter and net pre-tax charges of $70 million, or $0.08 per share, for the year, which primarily consisted of property sale gains, transaction costs and non-cash impairment charges associated with the sale of McDonald’s business in South Korea and transaction costs associated with the acquisition of McDonald’s business in Israel
Excluding the above items, operating income growth for both periods was primarily driven by higher sales-driven Franchised margins.