vs
Side-by-side financial comparison of McDonald's (MCD) and Vistra Corp. (VST). Click either name above to swap in a different company.
McDonald's is the larger business by last-quarter revenue ($7.0B vs $4.8B, roughly 1.5× Vistra Corp.). McDonald's runs the higher net margin — 30.9% vs 4.8%, a 26.0% gap on every dollar of revenue. On growth, Vistra Corp. posted the faster year-over-year revenue change (31.2% vs 9.7%). McDonald's produced more free cash flow last quarter ($1.6B vs $596.0M). Over the past eight quarters, Vistra Corp.'s revenue compounded faster (23.3% 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.
Vistra may refer to either of two companies:Vistra, a corporate services company based in Hong Kong Vistra Corp, an energy company based in Texas
MCD vs VST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.0B | $4.8B |
| Net Profit | $2.2B | $233.0M |
| Gross Margin | — | — |
| Operating Margin | 45.0% | 9.9% |
| Net Margin | 30.9% | 4.8% |
| Revenue YoY | 9.7% | 31.2% |
| Net Profit YoY | 7.3% | -47.2% |
| EPS (diluted) | $3.03 | $0.55 |
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 | $4.8B | ||
| Q3 25 | $7.1B | $4.8B | ||
| Q2 25 | $6.8B | $3.8B | ||
| Q1 25 | $6.0B | $4.3B | ||
| Q4 24 | $6.4B | $3.7B | ||
| Q3 24 | $6.9B | $4.3B | ||
| Q2 24 | $6.5B | $3.6B | ||
| Q1 24 | $6.2B | $3.2B |
| Q4 25 | $2.2B | $233.0M | ||
| Q3 25 | $2.3B | $652.0M | ||
| Q2 25 | $2.3B | $327.0M | ||
| Q1 25 | $1.9B | $-268.0M | ||
| Q4 24 | $2.0B | $441.0M | ||
| Q3 24 | $2.3B | $1.9B | ||
| Q2 24 | $2.0B | $365.0M | ||
| Q1 24 | $1.9B | $-35.0M |
| 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% | 9.9% | ||
| Q3 25 | 47.4% | 21.7% | ||
| Q2 25 | 47.2% | 13.7% | ||
| Q1 25 | 44.5% | -2.8% | ||
| Q4 24 | 44.9% | 16.4% | ||
| Q3 24 | 46.4% | 59.6% | ||
| Q2 24 | 45.0% | 22.5% | ||
| Q1 24 | 44.4% | 2.7% |
| Q4 25 | 30.9% | 4.8% | ||
| Q3 25 | 32.2% | 13.6% | ||
| Q2 25 | 32.9% | 8.7% | ||
| Q1 25 | 31.4% | -6.3% | ||
| Q4 24 | 31.6% | 12.0% | ||
| Q3 24 | 32.8% | 43.5% | ||
| Q2 24 | 31.2% | 10.1% | ||
| Q1 24 | 31.3% | -1.1% |
| Q4 25 | $3.03 | $0.55 | ||
| Q3 25 | $3.18 | $1.75 | ||
| Q2 25 | $3.14 | $0.81 | ||
| Q1 25 | $2.60 | $-0.93 | ||
| Q4 24 | $2.80 | $1.09 | ||
| Q3 24 | $3.13 | $5.25 | ||
| Q2 24 | $2.80 | $0.90 | ||
| Q1 24 | $2.66 | $-0.24 |
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 | $785.0M |
| Total DebtLower is stronger | $40.0B | $15.8B |
| Stockholders' EquityBook value | $-1.8B | $5.1B |
| Total Assets | $59.5B | $41.5B |
| Debt / EquityLower = less leverage | — | 3.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $774.0M | $785.0M | ||
| Q3 25 | $2.4B | $602.0M | ||
| Q2 25 | $1.9B | $458.0M | ||
| Q1 25 | $1.2B | $561.0M | ||
| Q4 24 | $1.1B | $1.2B | ||
| Q3 24 | $1.2B | $905.0M | ||
| Q2 24 | $792.0M | $1.6B | ||
| Q1 24 | $838.0M | $1.1B |
| Q4 25 | $40.0B | $15.8B | ||
| Q3 25 | — | $15.8B | ||
| Q2 25 | — | $15.5B | ||
| Q1 25 | — | $15.4B | ||
| Q4 24 | $38.4B | $15.4B | ||
| Q3 24 | — | $13.9B | ||
| Q2 24 | — | $13.9B | ||
| Q1 24 | — | $14.7B |
| Q4 25 | $-1.8B | $5.1B | ||
| Q3 25 | $-2.2B | $5.2B | ||
| Q2 25 | $-2.8B | $4.8B | ||
| Q1 25 | $-3.5B | $4.8B | ||
| Q4 24 | $-3.8B | $5.6B | ||
| Q3 24 | $-5.2B | $5.4B | ||
| Q2 24 | $-4.8B | $5.6B | ||
| Q1 24 | $-4.8B | $5.7B |
| Q4 25 | $59.5B | $41.5B | ||
| Q3 25 | $60.6B | $38.0B | ||
| Q2 25 | $59.6B | $38.1B | ||
| Q1 25 | $56.3B | $38.2B | ||
| Q4 24 | $55.2B | $37.8B | ||
| Q3 24 | $56.2B | $37.9B | ||
| Q2 24 | $53.8B | $39.1B | ||
| Q1 24 | $53.5B | $38.2B |
| Q4 25 | — | 3.11× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.20× | ||
| Q4 24 | — | 2.77× | ||
| Q3 24 | — | 2.56× | ||
| Q2 24 | — | 2.49× | ||
| Q1 24 | — | 2.60× |
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 | $1.4B |
| Free Cash FlowOCF − Capex | $1.6B | $596.0M |
| FCF MarginFCF / Revenue | 23.4% | 12.4% |
| Capex IntensityCapex / Revenue | 15.1% | 17.4% |
| Cash ConversionOCF / Net Profit | 1.25× | 6.15× |
| TTM Free Cash FlowTrailing 4 quarters | $7.2B | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.7B | $1.4B | ||
| Q3 25 | $3.4B | $1.5B | ||
| Q2 25 | $2.0B | $572.0M | ||
| Q1 25 | $2.4B | $599.0M | ||
| Q4 24 | $2.6B | $1.4B | ||
| Q3 24 | $2.7B | $1.7B | ||
| Q2 24 | $1.7B | $1.2B | ||
| Q1 24 | $2.4B | $312.0M |
| Q4 25 | $1.6B | $596.0M | ||
| Q3 25 | $2.4B | $1.0B | ||
| Q2 25 | $1.3B | $-118.0M | ||
| Q1 25 | $1.9B | $-169.0M | ||
| Q4 24 | $1.8B | $923.0M | ||
| Q3 24 | $1.9B | $1.0B | ||
| Q2 24 | $1.1B | $698.0M | ||
| Q1 24 | $1.8B | $-153.0M |
| Q4 25 | 23.4% | 12.4% | ||
| Q3 25 | 34.1% | 21.1% | ||
| Q2 25 | 18.3% | -3.1% | ||
| Q1 25 | 31.5% | -4.0% | ||
| Q4 24 | 28.6% | 25.2% | ||
| Q3 24 | 28.3% | 23.4% | ||
| Q2 24 | 16.3% | 19.4% | ||
| Q1 24 | 29.9% | -4.8% |
| Q4 25 | 15.1% | 17.4% | ||
| Q3 25 | 14.3% | 9.6% | ||
| Q2 25 | 10.9% | 18.4% | ||
| Q1 25 | 9.3% | 18.1% | ||
| Q4 24 | 12.6% | 11.7% | ||
| Q3 24 | 11.6% | 15.8% | ||
| Q2 24 | 9.7% | 13.8% | ||
| Q1 24 | 8.9% | 14.7% |
| Q4 25 | 1.25× | 6.15× | ||
| Q3 25 | 1.50× | 2.25× | ||
| Q2 25 | 0.89× | 1.75× | ||
| Q1 25 | 1.30× | — | ||
| Q4 24 | 1.30× | 3.07× | ||
| Q3 24 | 1.21× | 0.90× | ||
| Q2 24 | 0.84× | 3.28× | ||
| Q1 24 | 1.24× | — |
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% |
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
