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Side-by-side financial comparison of Coca-Cola Company (The) (KO) and McDonald's (MCD). Click either name above to swap in a different company.
Coca-Cola Company (The) is the larger business by last-quarter revenue ($11.8B vs $7.0B, roughly 1.7× McDonald's). McDonald's runs the higher net margin — 30.9% vs 19.2%, a 11.7% gap on every dollar of revenue. On growth, McDonald's posted the faster year-over-year revenue change (9.7% vs 2.4%). Coca-Cola Company (The) produced more free cash flow last quarter ($2.9B vs $1.6B). Over the past eight quarters, McDonald's's revenue compounded faster (6.6% CAGR vs 2.3%).
The Coca-Cola Company is an American multinational corporation founded in 1892 headquartered in Atlanta, Georgia. It manufactures, sells and markets soft drinks including Coca-Cola, other non-alcoholic beverage concentrates and syrups, and alcoholic beverages. Its stock is listed on the New York Stock Exchange and is a component of the DJIA and the S&P 500 and S&P 100 indices.
McDonald's Corporation, doing business as McDonald's, is an American multinational fast food restaurant chain. As of 2024, it is the second-largest by number of locations in the world, behind the Chinese chain Mixue Ice Cream & Tea.
KO vs MCD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $11.8B | $7.0B |
| Net Profit | $2.3B | $2.2B |
| Gross Margin | 60.0% | — |
| Operating Margin | 15.6% | 45.0% |
| Net Margin | 19.2% | 30.9% |
| Revenue YoY | 2.4% | 9.7% |
| Net Profit YoY | 3.5% | 7.3% |
| EPS (diluted) | $0.53 | $3.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $11.8B | $7.0B | ||
| Q3 25 | $12.5B | $7.1B | ||
| Q2 25 | $12.5B | $6.8B | ||
| Q1 25 | $11.1B | $6.0B | ||
| Q4 24 | $11.5B | $6.4B | ||
| Q3 24 | $11.9B | $6.9B | ||
| Q2 24 | $12.4B | $6.5B | ||
| Q1 24 | $11.3B | $6.2B |
| Q4 25 | $2.3B | $2.2B | ||
| Q3 25 | $3.7B | $2.3B | ||
| Q2 25 | $3.8B | $2.3B | ||
| Q1 25 | $3.3B | $1.9B | ||
| Q4 24 | $2.2B | $2.0B | ||
| Q3 24 | $2.8B | $2.3B | ||
| Q2 24 | $2.4B | $2.0B | ||
| Q1 24 | $3.2B | $1.9B |
| Q4 25 | 60.0% | — | ||
| Q3 25 | 61.5% | 90.6% | ||
| Q2 25 | 62.4% | 90.4% | ||
| Q1 25 | 62.6% | 89.6% | ||
| Q4 24 | 60.0% | — | ||
| Q3 24 | 60.7% | 90.6% | ||
| Q2 24 | 61.1% | 90.3% | ||
| Q1 24 | 62.5% | 89.8% |
| Q4 25 | 15.6% | 45.0% | ||
| Q3 25 | 32.0% | 47.4% | ||
| Q2 25 | 34.1% | 47.2% | ||
| Q1 25 | 32.9% | 44.5% | ||
| Q4 24 | 23.5% | 44.9% | ||
| Q3 24 | 21.2% | 46.4% | ||
| Q2 24 | 21.3% | 45.0% | ||
| Q1 24 | 18.9% | 44.4% |
| Q4 25 | 19.2% | 30.9% | ||
| Q3 25 | 29.7% | 32.2% | ||
| Q2 25 | 30.4% | 32.9% | ||
| Q1 25 | 29.9% | 31.4% | ||
| Q4 24 | 19.0% | 31.6% | ||
| Q3 24 | 24.0% | 32.8% | ||
| Q2 24 | 19.5% | 31.2% | ||
| Q1 24 | 28.1% | 31.3% |
| Q4 25 | $0.53 | $3.03 | ||
| Q3 25 | $0.86 | $3.18 | ||
| Q2 25 | $0.88 | $3.14 | ||
| Q1 25 | $0.77 | $2.60 | ||
| Q4 24 | $0.50 | $2.80 | ||
| Q3 24 | $0.66 | $3.13 | ||
| Q2 24 | $0.56 | $2.80 | ||
| Q1 24 | $0.74 | $2.66 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.3B | $774.0M |
| Total DebtLower is stronger | $42.1B | $40.0B |
| Stockholders' EquityBook value | $32.2B | $-1.8B |
| Total Assets | $104.8B | $59.5B |
| Debt / EquityLower = less leverage | 1.31× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.3B | $774.0M | ||
| Q3 25 | $12.7B | $2.4B | ||
| Q2 25 | $9.6B | $1.9B | ||
| Q1 25 | $8.4B | $1.2B | ||
| Q4 24 | $10.8B | $1.1B | ||
| Q3 24 | $13.9B | $1.2B | ||
| Q2 24 | $13.7B | $792.0M | ||
| Q1 24 | $10.4B | $838.0M |
| Q4 25 | $42.1B | $40.0B | ||
| Q3 25 | $43.2B | — | ||
| Q2 25 | $45.0B | — | ||
| Q1 25 | $43.5B | — | ||
| Q4 24 | $42.4B | $38.4B | ||
| Q3 24 | $43.0B | — | ||
| Q2 24 | $38.1B | — | ||
| Q1 24 | $36.5B | — |
| Q4 25 | $32.2B | $-1.8B | ||
| Q3 25 | $31.2B | $-2.2B | ||
| Q2 25 | $28.6B | $-2.8B | ||
| Q1 25 | $26.2B | $-3.5B | ||
| Q4 24 | $24.9B | $-3.8B | ||
| Q3 24 | $26.5B | $-5.2B | ||
| Q2 24 | $25.9B | $-4.8B | ||
| Q1 24 | $26.4B | $-4.8B |
| Q4 25 | $104.8B | $59.5B | ||
| Q3 25 | $106.0B | $60.6B | ||
| Q2 25 | $104.3B | $59.6B | ||
| Q1 25 | $101.7B | $56.3B | ||
| Q4 24 | $100.5B | $55.2B | ||
| Q3 24 | $106.3B | $56.2B | ||
| Q2 24 | $101.2B | $53.8B | ||
| Q1 24 | $99.4B | $53.5B |
| Q4 25 | 1.31× | — | ||
| Q3 25 | 1.38× | — | ||
| Q2 25 | 1.57× | — | ||
| Q1 25 | 1.66× | — | ||
| Q4 24 | 1.70× | — | ||
| Q3 24 | 1.62× | — | ||
| Q2 24 | 1.47× | — | ||
| Q1 24 | 1.38× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.8B | $2.7B |
| Free Cash FlowOCF − Capex | $2.9B | $1.6B |
| FCF MarginFCF / Revenue | 24.3% | 23.4% |
| Capex IntensityCapex / Revenue | 7.5% | 15.1% |
| Cash ConversionOCF / Net Profit | 1.65× | 1.25× |
| TTM Free Cash FlowTrailing 4 quarters | $5.3B | $7.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.8B | $2.7B | ||
| Q3 25 | $5.0B | $3.4B | ||
| Q2 25 | $3.8B | $2.0B | ||
| Q1 25 | $-5.2B | $2.4B | ||
| Q4 24 | $4.0B | $2.6B | ||
| Q3 24 | $-1.3B | $2.7B | ||
| Q2 24 | $3.6B | $1.7B | ||
| Q1 24 | $528.0M | $2.4B |
| Q4 25 | $2.9B | $1.6B | ||
| Q3 25 | $4.6B | $2.4B | ||
| Q2 25 | $3.4B | $1.3B | ||
| Q1 25 | $-5.5B | $1.9B | ||
| Q4 24 | $3.1B | $1.8B | ||
| Q3 24 | $-1.7B | $1.9B | ||
| Q2 24 | $3.2B | $1.1B | ||
| Q1 24 | $158.0M | $1.8B |
| Q4 25 | 24.3% | 23.4% | ||
| Q3 25 | 36.6% | 34.1% | ||
| Q2 25 | 26.9% | 18.3% | ||
| Q1 25 | -49.5% | 31.5% | ||
| Q4 24 | 27.3% | 28.6% | ||
| Q3 24 | -14.6% | 28.3% | ||
| Q2 24 | 25.6% | 16.3% | ||
| Q1 24 | 1.4% | 29.9% |
| Q4 25 | 7.5% | 15.1% | ||
| Q3 25 | 3.8% | 14.3% | ||
| Q2 25 | 3.5% | 10.9% | ||
| Q1 25 | 2.8% | 9.3% | ||
| Q4 24 | 7.0% | 12.6% | ||
| Q3 24 | 4.0% | 11.6% | ||
| Q2 24 | 3.4% | 9.7% | ||
| Q1 24 | 3.3% | 8.9% |
| Q4 25 | 1.65× | 1.25× | ||
| Q3 25 | 1.36× | 1.50× | ||
| Q2 25 | 1.00× | 0.89× | ||
| Q1 25 | -1.56× | 1.30× | ||
| Q4 24 | 1.80× | 1.30× | ||
| Q3 24 | -0.44× | 1.21× | ||
| Q2 24 | 1.49× | 0.84× | ||
| Q1 24 | 0.17× | 1.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KO
| Other | $7.0B | 59% |
| Finished Product Operations | $2.4B | 21% |
| Concentrate Operations | $2.4B | 20% |
MCD
| International Operated Markets | $3.6B | 51% |
| Other | $2.8B | 40% |
| International Developmental Licensed Marketsand Corporate | $633.0M | 9% |
