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McDonalds vs Restaurant Brands International: revenue, profit, margins and growth compared

McDonalds brought in $26.9B of revenue in fiscal 2025, Restaurant Brands International $9.4B in fiscal 2025. Revenue changed by +3.7% at McDonalds and +12.2% at Restaurant Brands International on the year before, so Restaurant Brands International grew faster. McDonalds kept 31.9% of its revenue as net profit, Restaurant Brands International 8.2%. Free cash flow was $7.2B at McDonalds and $1.4B at Restaurant Brands International.

Side by side, latest fiscal year

MCDQSR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$26.9B$9.4B
Revenue growth+3.7%+12.2%
Net income$8.6B$776M
Net margin31.9%8.2%
Free cash flow$7.2B$1.4B
Free cash flow margin26.7%15.4%
Earnings per share (diluted)$11.95$2.35
Cash$774M$1.2B
Debt$40B$13.3B
Price to earnings19.830.5
Market value$167.4B$32.6B
Dividend yield3.03%3.46%
Rank by revenue in sector#41 of 778 · Consumer discretionary#123 of 778 · Consumer discretionary

Over the years

Revenue
MCD FY2018: $21.3BMCD FY2019: $21.4BMCD FY2020: $19.2BMCD FY2021: $23.2BMCD FY2022: $23.2BMCD FY2023: $25.5BMCD FY2024: $25.9BMCD FY2025: $26.9BQSR FY2018: $5.4BQSR FY2019: $5.6BQSR FY2020: $5BQSR FY2021: $5.7BQSR FY2022: $6.5BQSR FY2023: $7BQSR FY2024: $8.4BQSR FY2025: $9.4BFY18FY19FY20FY21FY22FY23FY24FY25
MCD $26.9BQSR $9.4B
Net income
MCD FY2018: $5.9BMCD FY2019: $6BMCD FY2020: $4.7BMCD FY2021: $7.5BMCD FY2022: $6.2BMCD FY2023: $8.5BMCD FY2024: $8.2BMCD FY2025: $8.6BQSR FY2018: $612MQSR FY2019: $643MQSR FY2020: $486MQSR FY2021: $838MQSR FY2022: $1BQSR FY2023: $1.2BQSR FY2024: $1BQSR FY2025: $776MFY18FY19FY20FY21FY22FY23FY24FY25
MCD $8.6BQSR $776M
Net margin
MCD FY2018: 27.9%MCD FY2019: 28.2%MCD FY2020: 24.6%MCD FY2021: 32.5%MCD FY2022: 26.6%MCD FY2023: 33.2%MCD FY2024: 31.7%MCD FY2025: 31.9%QSR FY2018: 11.4%QSR FY2019: 11.5%QSR FY2020: 9.8%QSR FY2021: 14.6%QSR FY2022: 15.5%QSR FY2023: 16.9%QSR FY2024: 12.1%QSR FY2025: 8.2%FY18FY19FY20FY21FY22FY23FY24FY25
MCD 31.9%QSR 8.2%
Revenue growth
MCD FY2019: +0.5%MCD FY2020: -10.1%MCD FY2021: +20.9%MCD FY2022: -0.2%MCD FY2023: +10.0%MCD FY2024: +1.7%MCD FY2025: +3.7%QSR FY2019: +4.6%QSR FY2020: -11.3%QSR FY2021: +15.5%QSR FY2022: +13.3%QSR FY2023: +7.9%QSR FY2024: +19.7%QSR FY2025: +12.2%FY19FY20FY21FY22FY23FY24FY25
MCD +3.7%QSR +12.2%
Free cash flow
MCD FY2018: $4.2BMCD FY2019: $5.7BMCD FY2020: $4.6BMCD FY2021: $7.1BMCD FY2022: $5.5BMCD FY2023: $7.3BMCD FY2024: $6.7BMCD FY2025: $7.2BQSR FY2018: $1.1BQSR FY2019: $1.4BQSR FY2020: $804MQSR FY2021: $1.6BQSR FY2022: $1.4BQSR FY2023: $1.2BQSR FY2024: $1.3BQSR FY2025: $1.4BFY18FY19FY20FY21FY22FY23FY24FY25
MCD $7.2BQSR $1.4B

Fiscal years as each company reports them; the two may end in different months.

Questions about McDonalds and Restaurant Brands International

Which is bigger by revenue, McDonalds or Restaurant Brands International?

McDonalds is bigger by revenue: $26.9B in fiscal 2025, against $9.4B for Restaurant Brands International in fiscal 2025.

Which keeps more of its revenue as profit, McDonalds or Restaurant Brands International?

McDonalds had a net margin of 31.9% in fiscal 2025; Restaurant Brands International had 8.2% in fiscal 2025.

Which grew revenue faster, McDonalds or Restaurant Brands International?

In their latest fiscal years revenue changed by +3.7% at McDonalds and +12.2% at Restaurant Brands International.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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