FoodBud
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RankingsInsightsMixue SeriesArchiveMethodologyDataSearch中文
FoodBud

Global foodservice chain intelligence. Every figure should link back to a source.

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Company card

McDonald's

Medium
Brand

NYSE MCD · US

Listing status
listed
Operating model
Mixed direct + franchise
Scale basis
GMV / system sales
Confidence
Medium
Segment
qsr burger

SEC first pass gives a useful denominator, but direct/franchise and system sales still need 10-K business-section parsing.

Scale basis note

Terminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue.

Compare this operator
Every number has a source row

Metrics below keep source tier, quality, period, and source link visible at the metric level.

Source tiers
S1Official primary — filings, annual reports, prospectuses
S2Official secondary — IR decks, transcripts
S3Supplementary — vetted media, databases
S0Not usable — flagged, never published

Source tiers — S1 official primary · S2 official secondary · S3 supplementary · S0 not usable. Open “Provenance” on any number for its tier, basis, precision, and do-not-use note.

GMV is not revenue

GMV/system sales, revenue, and royalty pool sales are separate scale bases. Screening proxies are directional only.

MetricValuePeriod / basisQualitySource
Stores
Reported restaurant, coffee shop, tea shop, bakery, or comparable chain units.
45,356 stores
FY2025 (ended December 31, 2025): Of the 45,356 McDonald's restaurants at year-end 2025, approximately 95% were franchised.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · Of the 45,356 McDonald's restaurants at year-end 2025, approximately 95% were franchised.
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Scale
Terminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue.
$139.4B
FY2025 (ended December 31, 2025): Systemwide sales increased 7% (5% in constant currencies) to $139.4 billion [for full year 2025].
GMV / system salesTerminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · Systemwide sales increased 7% (5% in constant currencies) to $139.4 billion [for full year 2025].
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Basis: GMV / system sales
Precision: Source-backed
Scale per store
Screening proxy: scale divided by store count. It is not audited AUV or unit profit.
$3.07M
Screening proxy
Derived scale_per_store using scale ÷ store_count at the linked scale basis; not a separately reported company metric.
GMV / system salesTerminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue.
Source-backed
S1 official primary (opens in new tab)
Operator Metric Source · Source used for operator metric extraction.
Provenance
Tier: S1 official primary
Source: Operator Metric Source
Basis: GMV / system sales
Precision: Derived
Profit signal
Profit signal from the source period. Read with local accounting and segment mix in mind.
$8.56B
FY2025 (ended December 31, 2025): Net income increased 4% (3% in constant currencies) to $8,563 million [for full year 2025].
Profit-positiveScale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S2 official secondary (opens in new tab)
Press Or Ir · Net income increased 4% (3% in constant currencies) to $8,563 million [for full year 2025].
Provenance
Tier: S2 official secondary
Source: Press Or Ir
Basis: Profit-positive
Revenue
Source-backed operating metric from the locked research snapshot.
$26.89B
USD 26.89B revenue (Revenues)
Revenue proxyRecognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
Source-backed
S1 official primary (opens in new tab)
Operator Metric Source · Source used for operator metric extraction.
Provenance
Tier: S1 official primary
Source: Operator Metric Source
Basis: Revenue proxy
Precision: Source-backed

Market data (listed companies)

Market valuation · fluctuates · not operational scale · do not compare with GMV / system sales. Listed companies only.

MetricValuePeriod / basisQualitySource
Market cap
Public market capitalization captured in the locked source snapshot.
$200.55B
May 22, 2026: MCD closing price May 22, 2026: $282.27; shares outstanding ~710.5M → implied market cap ~$200.6B.
Market cap (USD)Scale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S3 supplementary (opens in new tab)
Media Or Aggregator · MCD closing price May 22, 2026: $282.27; shares outstanding ~710.5M → implied market cap ~$200.6B.
Provenance
Tier: S3 supplementary
Source: Media Or Aggregator
Basis: Market cap (USD)
Precision: Market snapshot · not operational scale
⚠ Do not use for: Market valuation · not operational scale · never compare with GMV/system sales

Operator profile

14/20 source-backed

Classification, firmographics, ownership and operating dimensions — source-backed where disclosed, marked as a gap (never inferred) where not.

Format & positioning
Cuisine (primary)
burgerS3 supplementary (opens in new tab)
Cuisine (secondary)
chicken
Service model
QSRtier3_reference (opens in new tab)
Price tier
valuetertiary (opens in new tab)
Company
Founded
1,955company (opens in new tab)
HQ country
United Statesaggregator (opens in new tab)
CEO
Christopher Kempczinskiregulatory (opens in new tab)
Employees
150,000 headcountaggregator (opens in new tab)
Ownership
Parent
Independent / public-standalone (no corporate parent; widely held, S&P 500)company/encyclopedic (opens in new tab)
PE / holding
not disclosed
Recent M&A
not disclosed
Growth
System sales YoY
7%S1 official primary (opens in new tab)
Revenue YoY
4%S1 official primary (opens in new tab)
Net new units
1,879 unitsS1 official primary (opens in new tab)
Pricing & digital
Avg check
not disclosed
Digital sales
not disclosed
Loyalty members
210company (opens in new tab)
Franchise terms
Royalty
5%FDD-summary (opens in new tab)
Franchise fee
$45,000FDD-summary (opens in new tab)
By-market footprint
Argentina
231 storesS1 official primary (opens in new tab)
Aruba
3 storesS1 official primary (opens in new tab)
Australia
1,092 storesS1 official primary (opens in new tab)
Austria
212 storesS1 official primary (opens in new tab)
Azerbaijan
34 storesS1 official primary (opens in new tab)
Bahamas
3 storesS1 official primary (opens in new tab)
Bahrain
32 storesS1 official primary (opens in new tab)
Belgium
128 storesS1 official primary (opens in new tab)
Brazil
1,230 storesS1 official primary (opens in new tab)
Brunei
7 storesS1 official primary (opens in new tab)
Bulgaria
47 storesS1 official primary (opens in new tab)
Canada
1,520 storesS1 official primary (opens in new tab)
Chile
125 storesS1 official primary (opens in new tab)
Colombia
73 storesS1 official primary (opens in new tab)
Costa Rica
79 storesS1 official primary (opens in new tab)
Croatia
49 storesS1 official primary (opens in new tab)
Curacao
5 storesS1 official primary (opens in new tab)
Cyprus
23 storesS1 official primary (opens in new tab)
Czech Republic
140 storesS1 official primary (opens in new tab)
Denmark
121 storesS1 official primary (opens in new tab)
Dominican Republic
25 storesS1 official primary (opens in new tab)
Ecuador
36 storesS1 official primary (opens in new tab)
Egypt
194 storesS1 official primary (opens in new tab)
El Salvador
28 storesS1 official primary (opens in new tab)
Estonia
11 storesS1 official primary (opens in new tab)
Finland
90 storesS1 official primary (opens in new tab)
France
1,630 storesS1 official primary (opens in new tab)
French Guiana
3 storesS1 official primary (opens in new tab)
Georgia
27 storesS1 official primary (opens in new tab)
Germany
1,382 storesS1 official primary (opens in new tab)
Greece
34 storesS1 official primary (opens in new tab)
Guadeloupe
9 storesS1 official primary (opens in new tab)
Guatemala
124 storesS1 official primary (opens in new tab)
Honduras
16 storesS1 official primary (opens in new tab)
Hong Kong
266 storesS1 official primary (opens in new tab)
Hungary
123 storesS1 official primary (opens in new tab)
India
757 storesS1 official primary (opens in new tab)
Indonesia
314 storesS1 official primary (opens in new tab)
Ireland
95 storesS1 official primary (opens in new tab)
Israel
235 storesS1 official primary (opens in new tab)
Italy
805 storesS1 official primary (opens in new tab)
Japan
3,025 storesS1 official primary (opens in new tab)
Jordan
45 storesS1 official primary (opens in new tab)
Kuwait
89 storesS1 official primary (opens in new tab)
Latvia
14 storesS1 official primary (opens in new tab)
Lebanon
23 storesS1 official primary (opens in new tab)
Lithuania
19 storesS1 official primary (opens in new tab)
Luxembourg
11 storesS1 official primary (opens in new tab)
Macau
41 storesS1 official primary (opens in new tab)
Mainland China
7,740 storesS1 official primary (opens in new tab)
Malaysia
372 storesS1 official primary (opens in new tab)
Malta
10 storesS1 official primary (opens in new tab)
Martinique
10 storesS1 official primary (opens in new tab)
Mauritius
18 storesS1 official primary (opens in new tab)
Mexico
380 storesS1 official primary (opens in new tab)
Moldova
11 storesS1 official primary (opens in new tab)
Morocco
80 storesS1 official primary (opens in new tab)
Netherlands
266 storesS1 official primary (opens in new tab)
New Zealand
176 storesS1 official primary (opens in new tab)
Nicaragua
10 storesS1 official primary (opens in new tab)
Norway
95 storesS1 official primary (opens in new tab)
Oman
35 storesS1 official primary (opens in new tab)
Pakistan
70 storesS1 official primary (opens in new tab)
Panama
84 storesS1 official primary (opens in new tab)
Paraguay
30 storesS1 official primary (opens in new tab)
Peru
30 storesS1 official primary (opens in new tab)
Philippines
851 storesS1 official primary (opens in new tab)
Poland
618 storesS1 official primary (opens in new tab)
Portugal
220 storesS1 official primary (opens in new tab)
Puerto Rico
94 storesS1 official primary (opens in new tab)
Qatar
78 storesS1 official primary (opens in new tab)
Reunion Island
18 storesS1 official primary (opens in new tab)
Romania
114 storesS1 official primary (opens in new tab)
Saudi Arabia
458 storesS1 official primary (opens in new tab)
Serbia
39 storesS1 official primary (opens in new tab)
Singapore
153 storesS1 official primary (opens in new tab)
Slovakia
54 storesS1 official primary (opens in new tab)
Slovenia
29 storesS1 official primary (opens in new tab)
South Africa
407 storesS1 official primary (opens in new tab)
South Korea
401 storesS1 official primary (opens in new tab)
Spain
665 storesS1 official primary (opens in new tab)
St. Marten
3 storesS1 official primary (opens in new tab)
Suriname
2 storesS1 official primary (opens in new tab)
Sweden
205 storesS1 official primary (opens in new tab)
Switzerland
189 storesS1 official primary (opens in new tab)
Taiwan
430 storesS1 official primary (opens in new tab)
Thailand
242 storesS1 official primary (opens in new tab)
Trinidad/Tobago
4 storesS1 official primary (opens in new tab)
Turkey
306 storesS1 official primary (opens in new tab)
Ukraine
135 storesS1 official primary (opens in new tab)
United Arab Emirates
222 storesS1 official primary (opens in new tab)
United Kingdom
1,507 storesS1 official primary (opens in new tab)
United States
13,706 storesS1 official primary (opens in new tab)
Uruguay
35 storesS1 official primary (opens in new tab)
Venezuela
79 storesS1 official primary (opens in new tab)
Vietnam
45 storesS1 official primary (opens in new tab)
Virgin Islands
5 storesS1 official primary (opens in new tab)

Store counts by market/region — footprint context, not a same-basis comparison.

Disclosed store model

disclosed6/6 source-backed

Company-operated vs franchised footprint, AUV and store-level economics — taken verbatim from each operator's own filing, never inferred. A separate axis from company scale and single-store economics.

Total stores
45,356 stores
FY2025, year-end December 31, 2025
Source-backedS1 official primary (opens in new tab)
Company-operated
2,039 stores
FY2025, as of December 31, 2025 (fiscal year ended Dec 31, 2025)
Source-backedS1 official primary (opens in new tab)
Franchised
43,317 stores
FY2025, as of December 31, 2025
Source-backedS1 official primary (opens in new tab)
JV / licensed
Developmental licensed 9,675; Foreign affiliated 11,072 (both included within Total Franchised 43,317)
FY2025, as of December 31, 2025
Source-backedS1 official primary (opens in new tab)
Store-level margin
Franchised restaurant margins (total) $13,930M; Company-owned and operated restaurant margins (total) $1,422M (disclosed as dollar amounts, not as a margin percentage)
FY2025 (year ended Dec 31, 2025); millions USD
Source-backedS1 official primary (opens in new tab)
New units opened
2,276 stores
FY2025 (full year ended Dec 31, 2025); gross openings
Source-backedS1 official primary (opens in new tab)

Single-store model

7/8 source-backed

Unit economics are a separate axis from company-level scale — never read as the same number. Each field keeps its source, period, and quality; derived/estimated rows and gaps are marked.

AUV / unit sales
Traditional US franchised units only; not global blended AUV.
Average annual sales were USD3.966m; median USD3.797m; low USD914k; high USD19.680m.
2024
Source-backedS1 official primary (opens in new tab)
Single-store profit
Not franchisee EBITDA or free cash flow.
FDD pro forma shows 24.5%-25.9% operating income before occupancy costs across USD3.0m-USD3.4m product-sales bands.
2024 pro forma
Source-backedS1 official primary (opens in new tab)
Initial investment
Percentage rent and royalty are not included in Item 7 total.
Traditional restaurant estimated initial investment range USD1.471m-USD2.728m; midpoint USD2.0995m.
2025 FDD
Source-backedS1 official primary (opens in new tab)
Franchise fee / royalty
Existing pre-2024 restaurants may retain different rates.
Initial franchise fee USD45k; 5% royalty/service fee for new or McOpCo sale paths on/after 2024-01-01; advertising and promotion not less than 4% of gross sales; rent separate.
2025 FDD
Source-backedS1 official primary (opens in new tab)
Payback period
AUV/investment ignores rent, royalty, debt, maintenance capex, tax and owner distributions.
Average annual sales divided by Item 7 midpoint is 1.89x; no public payback-period distribution was found in this pilot.
2024 sales / 2025 FDD investment
EstimatedS1 official primary (opens in new tab)
Same-store sales
Comparable sales definition is not identical to FDD domestic traditional AUV sample.
2025 comparable sales increased 3.1% for total company; U.S. +2.1%, International Operated Markets +3.2%, International Developmental Licensed Markets +4.6%.
FY2025
Source-backedS1 official primary (opens in new tab)
Store open / close
No numeric opening/closure rate in this row.
—
FY2025 / 2025 FDD
GapS1 official primary (opens in new tab)
Company-operated share
Approximate percentage; ownership structures include conventional franchise, developmental license and affiliate.
Of 45,356 restaurants at year-end 2025, approximately 95% were franchised.
2025-12-31
Source-backedS1 official primary (opens in new tab)

Cost structure

4/6 source-backed

Where each revenue dollar goes, latest disclosed year. Slices use each operator's reported base — % of revenue unless the row notes otherwise (% of GMV, restaurant-level, franchise goods-supply COGS). Grey = not separately disclosed. This is a separate axis from company scale and single-store economics.

Food / COGS30.6%
FY2024S1 official primary (opens in new tab)Source-backed
Company-operated only (~5% of system). Food&paper 30.6/payroll 30.2/occupancy&other 24.3 of co-op sales; co-op restaurant margin 14.8%. Delivery/marketing not disclosed at restaurant level.
Labor30.2%
FY2024S1 official primary (opens in new tab)Source-backed
Company-operated only (~5% of system). Food&paper 30.6/payroll 30.2/occupancy&other 24.3 of co-op sales; co-op restaurant margin 14.8%. Delivery/marketing not disclosed at restaurant level.
Rent / occupancy24.3%
FY2024· occupancy&other, company-operated onlyS2 official secondary (opens in new tab)Estimated
Company-operated only (~5% of system). Food&paper 30.6/payroll 30.2/occupancy&other 24.3 of co-op sales; co-op restaurant margin 14.8%. Delivery/marketing not disclosed at restaurant level.
Delivery commission—
FY2024Gap
Company-operated only (~5% of system). Food&paper 30.6/payroll 30.2/occupancy&other 24.3 of co-op sales; co-op restaurant margin 14.8%. Delivery/marketing not disclosed at restaurant level.
Marketing—
FY2024Gap
Company-operated only (~5% of system). Food&paper 30.6/payroll 30.2/occupancy&other 24.3 of co-op sales; co-op restaurant margin 14.8%. Delivery/marketing not disclosed at restaurant level.
Operating margin14.8%
FY2024· restaurant_levelS2 official secondary (opens in new tab)Estimated
Company-operated only (~5% of system). Food&paper 30.6/payroll 30.2/occupancy&other 24.3 of co-op sales; co-op restaurant margin 14.8%. Delivery/marketing not disclosed at restaurant level.

Supply chain

9 suppliers · 7 with S1 filing

Who supplies this brand — reverse-extracted from each supplier's own filing (top-customer / related-party disclosure). The % is the supplier's revenue share from this brand (supplier-side, not procurement spend), unless a note says otherwise. Each edge keeps its period, source tier, and audit link; named relationships without a disclosed % are shown as such.

Fujipan Co., Ltd. (フジパン株式会社)
Ingredients
discloses as: McDonald's
—named (no % disclosed)S3 newssource (opens in new tab)
南王科技 Nanwang TechSZSE:301355
Packaging
paper_packaging_bags
discloses as: 乐信(上海)贸易有限公司(麦当劳)
FY20225.34%S1 filingsource (opens in new tab)
FY20214.99%S1 filingsource (opens in new tab)
富岭股份 FulingSZSE:001356
Packaging
plastic_tableware/cutlery/straws
discloses as: THE MARTIN-BROWER COMPANY(代采购商,终端McDonald's)
FY2020-2022named (no % disclosed)S1 filingsource (opens in new tab)
Fuji Echo Co., Ltd. (株式会社富士エコー)
Logistics / cold chain
discloses as: McDonald's
—named (no % disclosed)S3 newssource (opens in new tab)
Martin Brower / Reyes HoldingsPRIVATE
Logistics / cold chain
QSR distribution
discloses as: McDonald's
currentnamed (no % disclosed)S3 newssource (opens in new tab)
1974-named (no % disclosed)S3 newssource (opens in new tab)
Mitsui & Co., Ltd. (三井物産) — via acquired HAVI Supply Chain Japan8031.T
Logistics / cold chain
discloses as: McDonald's
—named (no % disclosed)S3 newssource (opens in new tab)
New HAVI / 新夏晖 (SF Holding + HAVI JV)002352
Logistics / cold chain
China cold-chain logistics
discloses as: 麦当劳中国
2018-named (no % disclosed)S3 newssource (opens in new tab)
PAR Technology IncNYSE:PAR
Tech / SaaS
restaurant_saas_pos(Brink/Punchh/Data Central)
discloses as: McDonald's Corporation
FY202415%S1 filingsource (opens in new tab)
FY20238%S1 filingsource (opens in new tab)
FY202212%S1 filingsource (opens in new tab)
FY202112%S1 filingsource (opens in new tab)
Tyson Foods / Keystone FoodsTSN
Ingredients
chicken / protein supply
discloses as: Keystone Foods / McDonald's
2018 acquisition contextnamed (no % disclosed)S3 newssource (opens in new tab)

Related insights

  • McDonald's 45,356 restaurants are a footprint, not a revenue — and the company is really a landlord (opens in new tab)

Peers in this segment

Wendy'sGMV / system salesArcos DoradosGMV / system salesA&W Food Services of Canada Inc.GMV / system salesJack in the BoxGMV / system sales

Same segment — each operator keeps its own scale basis; this is navigation, not a like-for-like comparison.