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Side-by-side financial comparison of McDonald's (MCD) and Mondelez International (MDLZ). Click either name above to swap in a different company.
Mondelez International is the larger business by last-quarter revenue ($10.1B vs $7.0B, roughly 1.4× McDonald's). McDonald's runs the higher net margin — 30.9% vs 5.6%, a 25.3% gap on every dollar of revenue. On growth, McDonald's posted the faster year-over-year revenue change (9.7% vs 8.2%). McDonald's produced more free cash flow last quarter ($1.6B vs $155.0M). Over the past eight quarters, Mondelez International's revenue compounded faster (9.9% CAGR vs 6.6%).
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.
Mondelēz International, Inc. is an American multinational confectionery, food, holding, beverage and snack food company based in Chicago. Mondelez has an annual revenue of about $26.5 billion and operates in approximately 160 countries. It ranked No. 108 in the 2021 Fortune 500 list of the largest United States corporations by total revenue.
MCD vs MDLZ — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $7.0B | $10.1B |
| Net Profit | $2.2B | $564.0M |
| Gross Margin | — | 27.8% |
| Operating Margin | 45.0% | 8.0% |
| Net Margin | 30.9% | 5.6% |
| Revenue YoY | 9.7% | 8.2% |
| Net Profit YoY | 7.3% | 38.6% |
| EPS (diluted) | $3.03 | $0.44 |
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.
| Q1 26 | — | $10.1B | ||
| Q4 25 | $7.0B | $10.5B | ||
| Q3 25 | $7.1B | $9.7B | ||
| Q2 25 | $6.8B | $9.0B | ||
| Q1 25 | $6.0B | $9.3B | ||
| Q4 24 | $6.4B | $9.6B | ||
| Q3 24 | $6.9B | $9.2B | ||
| Q2 24 | $6.5B | $8.3B |
| Q1 26 | — | $564.0M | ||
| Q4 25 | $2.2B | $665.0M | ||
| Q3 25 | $2.3B | $743.0M | ||
| Q2 25 | $2.3B | $641.0M | ||
| Q1 25 | $1.9B | $402.0M | ||
| Q4 24 | $2.0B | $1.7B | ||
| Q3 24 | $2.3B | $853.0M | ||
| Q2 24 | $2.0B | $601.0M |
| Q1 26 | — | 27.8% | ||
| Q4 25 | — | 28.2% | ||
| Q3 25 | 90.6% | 26.8% | ||
| Q2 25 | 90.4% | 32.7% | ||
| Q1 25 | 89.6% | 26.1% | ||
| Q4 24 | — | 38.6% | ||
| Q3 24 | 90.6% | 32.6% | ||
| Q2 24 | 90.3% | 33.5% |
| Q1 26 | — | 8.0% | ||
| Q4 25 | 45.0% | 9.1% | ||
| Q3 25 | 47.4% | 7.6% | ||
| Q2 25 | 47.2% | 13.0% | ||
| Q1 25 | 44.5% | 7.3% | ||
| Q4 24 | 44.9% | 16.8% | ||
| Q3 24 | 46.4% | 12.5% | ||
| Q2 24 | 45.0% | 10.2% |
| Q1 26 | — | 5.6% | ||
| Q4 25 | 30.9% | 6.3% | ||
| Q3 25 | 32.2% | 7.6% | ||
| Q2 25 | 32.9% | 7.1% | ||
| Q1 25 | 31.4% | 4.3% | ||
| Q4 24 | 31.6% | 18.2% | ||
| Q3 24 | 32.8% | 9.3% | ||
| Q2 24 | 31.2% | 7.2% |
| Q1 26 | — | $0.44 | ||
| Q4 25 | $3.03 | $0.52 | ||
| Q3 25 | $3.18 | $0.57 | ||
| Q2 25 | $3.14 | $0.49 | ||
| Q1 25 | $2.60 | $0.31 | ||
| Q4 24 | $2.80 | $1.30 | ||
| Q3 24 | $3.13 | $0.63 | ||
| Q2 24 | $2.80 | $0.45 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $774.0M | $1.5B |
| Total DebtLower is stronger | $40.0B | $18.3B |
| Stockholders' EquityBook value | $-1.8B | $25.8B |
| Total Assets | $59.5B | $71.1B |
| Debt / EquityLower = less leverage | — | 0.71× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.5B | ||
| Q4 25 | $774.0M | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $792.0M | — |
| Q1 26 | — | $18.3B | ||
| Q4 25 | $40.0B | $17.2B | ||
| Q3 25 | — | $17.1B | ||
| Q2 25 | — | $18.1B | ||
| Q1 25 | — | $15.8B | ||
| Q4 24 | $38.4B | $15.7B | ||
| Q3 24 | — | $16.5B | ||
| Q2 24 | — | $16.1B |
| Q1 26 | — | $25.8B | ||
| Q4 25 | $-1.8B | $25.8B | ||
| Q3 25 | $-2.2B | $26.2B | ||
| Q2 25 | $-2.8B | $26.2B | ||
| Q1 25 | $-3.5B | $25.8B | ||
| Q4 24 | $-3.8B | $26.9B | ||
| Q3 24 | $-5.2B | $27.9B | ||
| Q2 24 | $-4.8B | $27.7B |
| Q1 26 | — | $71.1B | ||
| Q4 25 | $59.5B | $71.5B | ||
| Q3 25 | $60.6B | $71.4B | ||
| Q2 25 | $59.6B | $71.0B | ||
| Q1 25 | $56.3B | $68.9B | ||
| Q4 24 | $55.2B | $68.5B | ||
| Q3 24 | $56.2B | $72.2B | ||
| Q2 24 | $53.8B | $73.1B |
| Q1 26 | — | 0.71× | ||
| Q4 25 | — | 0.67× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | 0.69× | ||
| Q1 25 | — | 0.61× | ||
| Q4 24 | — | 0.58× | ||
| Q3 24 | — | 0.59× | ||
| Q2 24 | — | 0.58× |
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 | $2.7B | $467.0M |
| Free Cash FlowOCF − Capex | $1.6B | $155.0M |
| FCF MarginFCF / Revenue | 23.4% | 1.5% |
| Capex IntensityCapex / Revenue | 15.1% | 3.1% |
| Cash ConversionOCF / Net Profit | 1.25× | 0.83× |
| TTM Free Cash FlowTrailing 4 quarters | $7.2B | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $467.0M | ||
| Q4 25 | $2.7B | $2.4B | ||
| Q3 25 | $3.4B | $717.0M | ||
| Q2 25 | $2.0B | $308.0M | ||
| Q1 25 | $2.4B | $1.1B | ||
| Q4 24 | $2.6B | $1.5B | ||
| Q3 24 | $2.7B | $1.3B | ||
| Q2 24 | $1.7B | $822.0M |
| Q1 26 | — | $155.0M | ||
| Q4 25 | $1.6B | $2.0B | ||
| Q3 25 | $2.4B | $418.0M | ||
| Q2 25 | $1.3B | $3.0M | ||
| Q1 25 | $1.9B | $815.0M | ||
| Q4 24 | $1.8B | $1.1B | ||
| Q3 24 | $1.9B | $989.0M | ||
| Q2 24 | $1.1B | $455.0M |
| Q1 26 | — | 1.5% | ||
| Q4 25 | 23.4% | 19.0% | ||
| Q3 25 | 34.1% | 4.3% | ||
| Q2 25 | 18.3% | 0.0% | ||
| Q1 25 | 31.5% | 8.8% | ||
| Q4 24 | 28.6% | 11.0% | ||
| Q3 24 | 28.3% | 10.7% | ||
| Q2 24 | 16.3% | 5.5% |
| Q1 26 | — | 3.1% | ||
| Q4 25 | 15.1% | 3.8% | ||
| Q3 25 | 14.3% | 3.1% | ||
| Q2 25 | 10.9% | 3.4% | ||
| Q1 25 | 9.3% | 3.0% | ||
| Q4 24 | 12.6% | 4.2% | ||
| Q3 24 | 11.6% | 3.4% | ||
| Q2 24 | 9.7% | 4.4% |
| Q1 26 | — | 0.83× | ||
| Q4 25 | 1.25× | 3.60× | ||
| Q3 25 | 1.50× | 0.97× | ||
| Q2 25 | 0.89× | 0.48× | ||
| Q1 25 | 1.30× | 2.72× | ||
| Q4 24 | 1.30× | 0.84× | ||
| Q3 24 | 1.21× | 1.53× | ||
| Q2 24 | 0.84× | 1.37× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MCD
| International Operated Markets | $3.6B | 51% |
| Other | $2.8B | 40% |
| International Developmental Licensed Marketsand Corporate | $633.0M | 9% |
MDLZ
Segment breakdown not available.
