vs
Side-by-side financial comparison of McDonald's (MCD) and Travelers Companies (The) (TRV). Click either name above to swap in a different company.
Travelers Companies (The) is the larger business by last-quarter revenue ($12.4B vs $7.0B, roughly 1.8× McDonald's). McDonald's runs the higher net margin — 30.9% vs 20.1%, a 10.8% gap on every dollar of revenue. On growth, McDonald's posted the faster year-over-year revenue change (9.7% vs 3.5%). Over the past eight quarters, McDonald's's revenue compounded faster (6.6% CAGR vs 5.2%).
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.
The Travelers Companies, Inc., commonly known as Travelers, is an American multinational insurance company. It is the second-largest writer of U.S. commercial property and casualty insurance, and the sixth-largest writer of U.S. personal insurance through independent agents. Travelers is incorporated in Minnesota, with headquarters in New York City, and its largest office in Hartford, Connecticut. It has been a component of the Dow Jones Industrial Average since June 8, 2009.
MCD vs TRV — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.0B | $12.4B |
| Net Profit | $2.2B | $2.5B |
| Gross Margin | — | — |
| Operating Margin | 45.0% | 25.0% |
| Net Margin | 30.9% | 20.1% |
| Revenue YoY | 9.7% | 3.5% |
| Net Profit YoY | 7.3% | 19.9% |
| EPS (diluted) | $3.03 | $10.96 |
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 | $7.0B | $12.4B | ||
| Q3 25 | $7.1B | $12.5B | ||
| Q2 25 | $6.8B | $12.1B | ||
| Q1 25 | $6.0B | $11.8B | ||
| Q4 24 | $6.4B | $12.0B | ||
| Q3 24 | $6.9B | $11.9B | ||
| Q2 24 | $6.5B | $11.3B | ||
| Q1 24 | $6.2B | $11.2B |
| Q4 25 | $2.2B | $2.5B | ||
| Q3 25 | $2.3B | $1.9B | ||
| Q2 25 | $2.3B | $1.5B | ||
| Q1 25 | $1.9B | $395.0M | ||
| Q4 24 | $2.0B | $2.1B | ||
| Q3 24 | $2.3B | $1.3B | ||
| Q2 24 | $2.0B | $534.0M | ||
| Q1 24 | $1.9B | $1.1B |
| Q4 25 | — | — | ||
| Q3 25 | 90.6% | — | ||
| Q2 25 | 90.4% | — | ||
| Q1 25 | 89.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 90.6% | — | ||
| Q2 24 | 90.3% | — | ||
| Q1 24 | 89.8% | — |
| Q4 25 | 45.0% | 25.0% | ||
| Q3 25 | 47.4% | 18.8% | ||
| Q2 25 | 47.2% | 15.5% | ||
| Q1 25 | 44.5% | 4.0% | ||
| Q4 24 | 44.9% | 21.6% | ||
| Q3 24 | 46.4% | 13.1% | ||
| Q2 24 | 45.0% | 5.8% | ||
| Q1 24 | 44.4% | 12.2% |
| Q4 25 | 30.9% | 20.1% | ||
| Q3 25 | 32.2% | 15.1% | ||
| Q2 25 | 32.9% | 12.5% | ||
| Q1 25 | 31.4% | 3.3% | ||
| Q4 24 | 31.6% | 17.3% | ||
| Q3 24 | 32.8% | 10.6% | ||
| Q2 24 | 31.2% | 4.7% | ||
| Q1 24 | 31.3% | 10.0% |
| Q4 25 | $3.03 | $10.96 | ||
| Q3 25 | $3.18 | $8.24 | ||
| Q2 25 | $3.14 | $6.53 | ||
| Q1 25 | $2.60 | $1.70 | ||
| Q4 24 | $2.80 | $8.96 | ||
| Q3 24 | $3.13 | $5.42 | ||
| Q2 24 | $2.80 | $2.29 | ||
| Q1 24 | $2.66 | $4.80 |
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 | — |
| Total DebtLower is stronger | $40.0B | — |
| Stockholders' EquityBook value | $-1.8B | $32.9B |
| Total Assets | $59.5B | $143.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| 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 24 | $838.0M | — |
| Q4 25 | $40.0B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $38.4B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-1.8B | $32.9B | ||
| Q3 25 | $-2.2B | $31.6B | ||
| Q2 25 | $-2.8B | $29.5B | ||
| Q1 25 | $-3.5B | $28.2B | ||
| Q4 24 | $-3.8B | $27.9B | ||
| Q3 24 | $-5.2B | $27.7B | ||
| Q2 24 | $-4.8B | $24.9B | ||
| Q1 24 | $-4.8B | $25.0B |
| Q4 25 | $59.5B | $143.7B | ||
| Q3 25 | $60.6B | $143.7B | ||
| Q2 25 | $59.6B | $138.9B | ||
| Q1 25 | $56.3B | $136.0B | ||
| Q4 24 | $55.2B | $133.2B | ||
| Q3 24 | $56.2B | $134.6B | ||
| Q2 24 | $53.8B | $129.3B | ||
| Q1 24 | $53.5B | $127.4B |
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 | $2.7B |
| Free Cash FlowOCF − Capex | $1.6B | — |
| FCF MarginFCF / Revenue | 23.4% | — |
| Capex IntensityCapex / Revenue | 15.1% | — |
| Cash ConversionOCF / Net Profit | 1.25× | 1.08× |
| TTM Free Cash FlowTrailing 4 quarters | $7.2B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.7B | $2.7B | ||
| Q3 25 | $3.4B | $4.2B | ||
| Q2 25 | $2.0B | $2.3B | ||
| Q1 25 | $2.4B | $1.4B | ||
| Q4 24 | $2.6B | $2.1B | ||
| Q3 24 | $2.7B | $3.9B | ||
| Q2 24 | $1.7B | $1.7B | ||
| Q1 24 | $2.4B | $1.5B |
| Q4 25 | $1.6B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.8B | — |
| Q4 25 | 23.4% | — | ||
| Q3 25 | 34.1% | — | ||
| Q2 25 | 18.3% | — | ||
| Q1 25 | 31.5% | — | ||
| Q4 24 | 28.6% | — | ||
| Q3 24 | 28.3% | — | ||
| Q2 24 | 16.3% | — | ||
| Q1 24 | 29.9% | — |
| Q4 25 | 15.1% | — | ||
| Q3 25 | 14.3% | — | ||
| Q2 25 | 10.9% | — | ||
| Q1 25 | 9.3% | — | ||
| Q4 24 | 12.6% | — | ||
| Q3 24 | 11.6% | — | ||
| Q2 24 | 9.7% | — | ||
| Q1 24 | 8.9% | — |
| Q4 25 | 1.25× | 1.08× | ||
| Q3 25 | 1.50× | 2.24× | ||
| Q2 25 | 0.89× | 1.55× | ||
| Q1 25 | 1.30× | 3.44× | ||
| Q4 24 | 1.30× | 0.99× | ||
| Q3 24 | 1.21× | 3.08× | ||
| Q2 24 | 0.84× | 3.14× | ||
| Q1 24 | 1.24× | 1.30× |
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% |
TRV
| Business And International Insurance | $6.6B | 53% |
| Personal Insurance | $4.6B | 37% |
| Bond And Specialty Insurance | $1.2B | 9% |
