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Side-by-side financial comparison of McDonald's (MCD) and Visa Inc. (V). Click either name above to swap in a different company.
Visa Inc. is the larger business by last-quarter revenue ($11.2B vs $7.0B, roughly 1.6× McDonald's). Visa Inc. runs the higher net margin — 53.4% vs 30.9%, a 22.5% gap on every dollar of revenue. On growth, Visa Inc. posted the faster year-over-year revenue change (17.0% vs 9.7%). Over the past eight quarters, Visa Inc.'s revenue compounded faster (8.1% 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.
Visa Inc. is an American multinational payment card services corporation headquartered in San Francisco, California. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards and prepaid cards.
MCD vs V — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $7.0B | $11.2B |
| Net Profit | $2.2B | $6.0B |
| Gross Margin | — | — |
| Operating Margin | 45.0% | 64.4% |
| Net Margin | 30.9% | 53.4% |
| Revenue YoY | 9.7% | 17.0% |
| Net Profit YoY | 7.3% | 32.0% |
| EPS (diluted) | $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.
| Q2 26 | — | $11.2B | ||
| Q4 25 | $7.0B | $10.9B | ||
| Q3 25 | $7.1B | $10.7B | ||
| Q2 25 | $6.8B | $10.2B | ||
| Q1 25 | $6.0B | $9.6B | ||
| Q4 24 | $6.4B | $9.5B | ||
| Q3 24 | $6.9B | $9.6B | ||
| Q2 24 | $6.5B | — |
| Q2 26 | — | $6.0B | ||
| Q4 25 | $2.2B | $5.9B | ||
| Q3 25 | $2.3B | $5.1B | ||
| Q2 25 | $2.3B | $5.3B | ||
| Q1 25 | $1.9B | $4.6B | ||
| Q4 24 | $2.0B | $5.1B | ||
| Q3 24 | $2.3B | $5.3B | ||
| Q2 24 | $2.0B | — |
| Q2 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 90.6% | — | ||
| Q2 25 | 90.4% | — | ||
| Q1 25 | 89.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 90.6% | — | ||
| Q2 24 | 90.3% | — |
| Q2 26 | — | 64.4% | ||
| Q4 25 | 45.0% | 61.8% | ||
| Q3 25 | 47.4% | 57.3% | ||
| Q2 25 | 47.2% | 60.7% | ||
| Q1 25 | 44.5% | 56.6% | ||
| Q4 24 | 44.9% | 65.6% | ||
| Q3 24 | 46.4% | 66.0% | ||
| Q2 24 | 45.0% | — |
| Q2 26 | — | 53.4% | ||
| Q4 25 | 30.9% | 53.7% | ||
| Q3 25 | 32.2% | 47.5% | ||
| Q2 25 | 32.9% | 51.8% | ||
| Q1 25 | 31.4% | 47.7% | ||
| Q4 24 | 31.6% | 53.8% | ||
| Q3 24 | 32.8% | 55.3% | ||
| Q2 24 | 31.2% | — |
| Q2 26 | — | — | ||
| Q4 25 | $3.03 | — | ||
| Q3 25 | $3.18 | — | ||
| Q2 25 | $3.14 | — | ||
| Q1 25 | $2.60 | — | ||
| Q4 24 | $2.80 | — | ||
| Q3 24 | $3.13 | — | ||
| Q2 24 | $2.80 | — |
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 | $12.4B |
| Total DebtLower is stronger | $40.0B | $22.4B |
| Stockholders' EquityBook value | $-1.8B | $35.7B |
| Total Assets | $59.5B | $95.0B |
| Debt / EquityLower = less leverage | — | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | $12.4B | ||
| Q4 25 | $774.0M | $14.8B | ||
| Q3 25 | $2.4B | $17.2B | ||
| Q2 25 | $1.9B | $17.1B | ||
| Q1 25 | $1.2B | $11.7B | ||
| Q4 24 | $1.1B | $12.4B | ||
| Q3 24 | $1.2B | $12.0B | ||
| Q2 24 | $792.0M | — |
| Q2 26 | — | $22.4B | ||
| Q4 25 | $40.0B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $38.4B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q2 26 | — | $35.7B | ||
| Q4 25 | $-1.8B | $38.8B | ||
| Q3 25 | $-2.2B | $37.9B | ||
| Q2 25 | $-2.8B | $38.7B | ||
| Q1 25 | $-3.5B | $38.0B | ||
| Q4 24 | $-3.8B | $38.3B | ||
| Q3 24 | $-5.2B | $39.1B | ||
| Q2 24 | $-4.8B | — |
| Q2 26 | — | $95.0B | ||
| Q4 25 | $59.5B | $96.8B | ||
| Q3 25 | $60.6B | $99.6B | ||
| Q2 25 | $59.6B | $100.0B | ||
| Q1 25 | $56.3B | $92.9B | ||
| Q4 24 | $55.2B | $91.9B | ||
| Q3 24 | $56.2B | $94.5B | ||
| Q2 24 | $53.8B | — |
| Q2 26 | — | 0.63× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — |
| Free Cash FlowOCF − Capex | $1.6B | — |
| FCF MarginFCF / Revenue | 23.4% | — |
| Capex IntensityCapex / Revenue | 15.1% | — |
| Cash ConversionOCF / Net Profit | 1.25× | — |
| TTM Free Cash FlowTrailing 4 quarters | $7.2B | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q4 25 | $2.7B | $6.8B | ||
| Q3 25 | $3.4B | $6.2B | ||
| Q2 25 | $2.0B | $6.7B | ||
| Q1 25 | $2.4B | $4.7B | ||
| Q4 24 | $2.6B | $5.4B | ||
| Q3 24 | $2.7B | $6.7B | ||
| Q2 24 | $1.7B | — |
| Q2 26 | — | — | ||
| Q4 25 | $1.6B | $6.4B | ||
| Q3 25 | $2.4B | $5.8B | ||
| Q2 25 | $1.3B | $6.3B | ||
| Q1 25 | $1.9B | $4.4B | ||
| Q4 24 | $1.8B | $5.1B | ||
| Q3 24 | $1.9B | $6.4B | ||
| Q2 24 | $1.1B | — |
| Q2 26 | — | — | ||
| Q4 25 | 23.4% | 58.7% | ||
| Q3 25 | 34.1% | 54.5% | ||
| Q2 25 | 18.3% | 62.0% | ||
| Q1 25 | 31.5% | 45.5% | ||
| Q4 24 | 28.6% | 53.1% | ||
| Q3 24 | 28.3% | 66.1% | ||
| Q2 24 | 16.3% | — |
| Q2 26 | — | — | ||
| Q4 25 | 15.1% | 3.5% | ||
| Q3 25 | 14.3% | 3.6% | ||
| Q2 25 | 10.9% | 4.1% | ||
| Q1 25 | 9.3% | 3.4% | ||
| Q4 24 | 12.6% | 3.6% | ||
| Q3 24 | 11.6% | 3.2% | ||
| Q2 24 | 9.7% | — |
| Q2 26 | — | — | ||
| Q4 25 | 1.25× | 1.16× | ||
| Q3 25 | 1.50× | 1.23× | ||
| Q2 25 | 0.89× | 1.28× | ||
| Q1 25 | 1.30× | 1.03× | ||
| Q4 24 | 1.30× | 1.05× | ||
| Q3 24 | 1.21× | 1.25× | ||
| Q2 24 | 0.84× | — |
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% |
V
| Data processing revenue | $5.5B | 49% |
| International transaction revenue | $3.6B | 32% |
| Other revenue | $1.3B | 12% |
| Other | $736.0M | 7% |
