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

McDonalds brought in $26.9B of revenue in fiscal 2025, Restaurant Brands International Limited Partnership $9.4B in fiscal 2025. Revenue changed by +3.7% at McDonalds and +12.2% at Restaurant Brands International Limited Partnership on the year before, so Restaurant Brands International Limited Partnership grew faster. McDonalds kept 31.9% of its revenue as net profit, Restaurant Brands International Limited Partnership 11.4%. Free cash flow was $7.2B at McDonalds and $1.4B at Restaurant Brands International Limited Partnership.

Side by side, latest fiscal year

MCDRSTRF
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$1.1B
Net margin31.9%11.4%
Free cash flow$7.2B$1.4B
Free cash flow margin26.7%15.4%
Earnings per share (diluted)$11.95n/a
Cash$774M$1.2B
Debt$40B$13.3B
Price to earnings19.6n/a
Market value$165.3Bn/a
Dividend yield3.07%n/a
Rank by revenue in sector#43 of 1065 · Consumer discretionary#127 of 1065 · 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: $26.9BRSTRF FY2018: $5.4BRSTRF FY2019: $5.6BRSTRF FY2020: $5BRSTRF FY2021: $5.7BRSTRF FY2022: $6.5BRSTRF FY2023: $7BRSTRF FY2024: $8.4BRSTRF FY2025: $9.4BFY18FY19FY20FY21FY22FY23FY24FY25
MCD $26.9BRSTRF $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: $8.6BRSTRF FY2018: $1.1BRSTRF FY2019: $1.1BRSTRF FY2020: $748MRSTRF FY2021: $1.2BRSTRF FY2022: $1.5BRSTRF FY2023: $1.7BRSTRF FY2024: $1.4BRSTRF FY2025: $1.1BFY18FY19FY20FY21FY22FY23FY24FY25
MCD $8.6BRSTRF $1.1B
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%RSTRF FY2018: 21.3%RSTRF FY2019: 19.8%RSTRF FY2020: 15.1%RSTRF FY2021: 21.8%RSTRF FY2022: 22.7%RSTRF FY2023: 24.4%RSTRF FY2024: 17.2%RSTRF FY2025: 11.4%FY18FY19FY20FY21FY22FY23FY24FY25
MCD 31.9%RSTRF 11.4%
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%RSTRF FY2019: +4.6%RSTRF FY2020: -11.3%RSTRF FY2021: +15.5%RSTRF FY2022: +13.3%RSTRF FY2023: +7.9%RSTRF FY2024: +19.7%RSTRF FY2025: +12.2%FY19FY20FY21FY22FY23FY24FY25
MCD +3.7%RSTRF +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: $7.2BRSTRF FY2018: $1.1BRSTRF FY2019: $1.4BRSTRF FY2020: $804MRSTRF FY2021: $1.6BRSTRF FY2022: $1.4BRSTRF FY2023: $1.2BRSTRF FY2024: $1.3BRSTRF FY2025: $1.4BFY18FY19FY20FY21FY22FY23FY24FY25
MCD $7.2BRSTRF $1.4B

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

Questions about McDonalds and Restaurant Brands International Limited Partnership

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

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

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

McDonalds had a net margin of 31.9% in fiscal 2025; Restaurant Brands International Limited Partnership had 11.4% in fiscal 2025.

Which grew revenue faster, McDonalds or Restaurant Brands International Limited Partnership?

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

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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