vs
Side-by-side financial comparison of McDonald's (MCD) and Netflix (NFLX). Click either name above to swap in a different company.
Netflix is the larger business by last-quarter revenue ($12.2B vs $7.0B, roughly 1.7× McDonald's). Netflix runs the higher net margin — 43.1% vs 30.9%, a 12.2% gap on every dollar of revenue. On growth, Netflix posted the faster year-over-year revenue change (16.2% vs 9.7%). Netflix produced more free cash flow last quarter ($5.1B vs $1.6B). Over the past eight quarters, Netflix's revenue compounded faster (13.2% 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.
Netflix is an American subscription video on-demand over-the-top streaming service. The service primarily distributes original and acquired films and television shows from various genres. It is available internationally in multiple languages.
MCD vs NFLX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $7.0B | $12.2B |
| Net Profit | $2.2B | $5.3B |
| Gross Margin | — | 51.9% |
| Operating Margin | 45.0% | 32.3% |
| Net Margin | 30.9% | 43.1% |
| Revenue YoY | 9.7% | 16.2% |
| Net Profit YoY | 7.3% | 82.8% |
| EPS (diluted) | $3.03 | $1.23 |
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 | — | $12.2B | ||
| Q4 25 | $7.0B | $12.1B | ||
| Q3 25 | $7.1B | $11.5B | ||
| Q2 25 | $6.8B | $11.1B | ||
| Q1 25 | $6.0B | $10.5B | ||
| Q4 24 | $6.4B | $10.2B | ||
| Q3 24 | $6.9B | $9.8B | ||
| Q2 24 | $6.5B | $9.6B |
| Q1 26 | — | $5.3B | ||
| Q4 25 | $2.2B | $2.4B | ||
| Q3 25 | $2.3B | $2.5B | ||
| Q2 25 | $2.3B | $3.1B | ||
| Q1 25 | $1.9B | $2.9B | ||
| Q4 24 | $2.0B | $1.9B | ||
| Q3 24 | $2.3B | $2.4B | ||
| Q2 24 | $2.0B | $2.1B |
| Q1 26 | — | 51.9% | ||
| Q4 25 | — | 45.9% | ||
| Q3 25 | 90.6% | 46.4% | ||
| Q2 25 | 90.4% | 51.9% | ||
| Q1 25 | 89.6% | 50.1% | ||
| Q4 24 | — | 43.7% | ||
| Q3 24 | 90.6% | 47.9% | ||
| Q2 24 | 90.3% | 45.9% |
| Q1 26 | — | 32.3% | ||
| Q4 25 | 45.0% | 24.5% | ||
| Q3 25 | 47.4% | 28.2% | ||
| Q2 25 | 47.2% | 34.1% | ||
| Q1 25 | 44.5% | 31.7% | ||
| Q4 24 | 44.9% | 22.2% | ||
| Q3 24 | 46.4% | 29.6% | ||
| Q2 24 | 45.0% | 27.2% |
| Q1 26 | — | 43.1% | ||
| Q4 25 | 30.9% | 20.1% | ||
| Q3 25 | 32.2% | 22.1% | ||
| Q2 25 | 32.9% | 28.2% | ||
| Q1 25 | 31.4% | 27.4% | ||
| Q4 24 | 31.6% | 18.2% | ||
| Q3 24 | 32.8% | 24.1% | ||
| Q2 24 | 31.2% | 22.5% |
| Q1 26 | — | $1.23 | ||
| Q4 25 | $3.03 | $-17.14 | ||
| Q3 25 | $3.18 | $5.87 | ||
| Q2 25 | $3.14 | $7.19 | ||
| Q1 25 | $2.60 | $0.66 | ||
| Q4 24 | $2.80 | $4.27 | ||
| Q3 24 | $3.13 | $5.40 | ||
| Q2 24 | $2.80 | $4.88 |
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 | $12.3B |
| Total DebtLower is stronger | $40.0B | $13.4B |
| Stockholders' EquityBook value | $-1.8B | $31.1B |
| Total Assets | $59.5B | $61.0B |
| Debt / EquityLower = less leverage | — | 0.43× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.3B | ||
| Q4 25 | $774.0M | $9.1B | ||
| Q3 25 | $2.4B | $9.3B | ||
| Q2 25 | $1.9B | $8.4B | ||
| Q1 25 | $1.2B | $8.4B | ||
| Q4 24 | $1.1B | $9.6B | ||
| Q3 24 | $1.2B | $9.2B | ||
| Q2 24 | $792.0M | $6.7B |
| Q1 26 | — | $13.4B | ||
| Q4 25 | $40.0B | $13.5B | ||
| Q3 25 | — | $14.5B | ||
| Q2 25 | — | $14.5B | ||
| Q1 25 | — | $14.0B | ||
| Q4 24 | $38.4B | $13.8B | ||
| Q3 24 | — | $14.2B | ||
| Q2 24 | — | $12.2B |
| Q1 26 | — | $31.1B | ||
| Q4 25 | $-1.8B | $26.6B | ||
| Q3 25 | $-2.2B | $26.0B | ||
| Q2 25 | $-2.8B | $25.0B | ||
| Q1 25 | $-3.5B | $24.0B | ||
| Q4 24 | $-3.8B | $24.7B | ||
| Q3 24 | $-5.2B | $22.7B | ||
| Q2 24 | $-4.8B | $22.1B |
| Q1 26 | — | $61.0B | ||
| Q4 25 | $59.5B | $55.6B | ||
| Q3 25 | $60.6B | $54.9B | ||
| Q2 25 | $59.6B | $53.1B | ||
| Q1 25 | $56.3B | $52.1B | ||
| Q4 24 | $55.2B | $53.6B | ||
| Q3 24 | $56.2B | $52.3B | ||
| Q2 24 | $53.8B | $49.1B |
| Q1 26 | — | 0.43× | ||
| Q4 25 | — | 0.51× | ||
| Q3 25 | — | 0.56× | ||
| Q2 25 | — | 0.58× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.56× | ||
| Q3 24 | — | 0.62× | ||
| Q2 24 | — | 0.55× |
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 | $5.3B |
| Free Cash FlowOCF − Capex | $1.6B | $5.1B |
| FCF MarginFCF / Revenue | 23.4% | 41.6% |
| Capex IntensityCapex / Revenue | 15.1% | 1.6% |
| Cash ConversionOCF / Net Profit | 1.25× | 1.00× |
| TTM Free Cash FlowTrailing 4 quarters | $7.2B | $11.9B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $5.3B | ||
| Q4 25 | $2.7B | $2.1B | ||
| Q3 25 | $3.4B | $2.8B | ||
| Q2 25 | $2.0B | $2.4B | ||
| Q1 25 | $2.4B | $2.8B | ||
| Q4 24 | $2.6B | $1.5B | ||
| Q3 24 | $2.7B | $2.3B | ||
| Q2 24 | $1.7B | $1.3B |
| Q1 26 | — | $5.1B | ||
| Q4 25 | $1.6B | $1.9B | ||
| Q3 25 | $2.4B | $2.7B | ||
| Q2 25 | $1.3B | $2.3B | ||
| Q1 25 | $1.9B | $2.7B | ||
| Q4 24 | $1.8B | $1.4B | ||
| Q3 24 | $1.9B | $2.2B | ||
| Q2 24 | $1.1B | $1.2B |
| Q1 26 | — | 41.6% | ||
| Q4 25 | 23.4% | 15.5% | ||
| Q3 25 | 34.1% | 23.1% | ||
| Q2 25 | 18.3% | 20.5% | ||
| Q1 25 | 31.5% | 25.2% | ||
| Q4 24 | 28.6% | 13.5% | ||
| Q3 24 | 28.3% | 22.3% | ||
| Q2 24 | 16.3% | 12.7% |
| Q1 26 | — | 1.6% | ||
| Q4 25 | 15.1% | 2.0% | ||
| Q3 25 | 14.3% | 1.4% | ||
| Q2 25 | 10.9% | 1.4% | ||
| Q1 25 | 9.3% | 1.2% | ||
| Q4 24 | 12.6% | 1.5% | ||
| Q3 24 | 11.6% | 1.3% | ||
| Q2 24 | 9.7% | 0.8% |
| Q1 26 | — | 1.00× | ||
| Q4 25 | 1.25× | 0.87× | ||
| Q3 25 | 1.50× | 1.11× | ||
| Q2 25 | 0.89× | 0.78× | ||
| Q1 25 | 1.30× | 0.97× | ||
| Q4 24 | 1.30× | 0.82× | ||
| Q3 24 | 1.21× | 0.98× | ||
| Q2 24 | 0.84× | 0.60× |
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% |
NFLX
Segment breakdown not available.
