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Side-by-side financial comparison of McDonald's (MCD) and W. R. Berkley Corporation (WRB). Click either name above to swap in a different company.
McDonald's is the larger business by last-quarter revenue ($7.0B vs $3.7B, roughly 1.9× W. R. Berkley Corporation). McDonald's runs the higher net margin — 30.9% vs 14.0%, a 16.9% gap on every dollar of revenue. On growth, McDonald's posted the faster year-over-year revenue change (9.7% vs 4.0%). Over the past eight quarters, McDonald's's revenue compounded faster (6.6% CAGR vs 5.5%).
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.
William Robert Berkley is the founder and current chairman of W. R. Berkley Corporation and the chairman of the New York University Board of Trustees.
MCD vs WRB — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $7.0B | $3.7B |
| Net Profit | $2.2B | $515.2M |
| Gross Margin | — | — |
| Operating Margin | 45.0% | — |
| Net Margin | 30.9% | 14.0% |
| Revenue YoY | 9.7% | 4.0% |
| Net Profit YoY | 7.3% | 23.4% |
| EPS (diluted) | $3.03 | $1.31 |
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 | — | $3.7B | ||
| Q4 25 | $7.0B | $3.7B | ||
| Q3 25 | $7.1B | $3.8B | ||
| Q2 25 | $6.8B | $3.7B | ||
| Q1 25 | $6.0B | $3.5B | ||
| Q4 24 | $6.4B | $3.7B | ||
| Q3 24 | $6.9B | $3.4B | ||
| Q2 24 | $6.5B | $3.3B |
| Q1 26 | — | $515.2M | ||
| Q4 25 | $2.2B | $449.5M | ||
| Q3 25 | $2.3B | $511.0M | ||
| Q2 25 | $2.3B | $401.3M | ||
| Q1 25 | $1.9B | $417.6M | ||
| Q4 24 | $2.0B | $576.1M | ||
| Q3 24 | $2.3B | $365.6M | ||
| Q2 24 | $2.0B | $371.9M |
| Q1 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% | — |
| Q1 26 | — | — | ||
| Q4 25 | 45.0% | 15.4% | ||
| Q3 25 | 47.4% | 17.2% | ||
| Q2 25 | 47.2% | 14.2% | ||
| Q1 25 | 44.5% | 15.2% | ||
| Q4 24 | 44.9% | 19.9% | ||
| Q3 24 | 46.4% | 14.0% | ||
| Q2 24 | 45.0% | 14.7% |
| Q1 26 | — | 14.0% | ||
| Q4 25 | 30.9% | 12.1% | ||
| Q3 25 | 32.2% | 13.6% | ||
| Q2 25 | 32.9% | 10.9% | ||
| Q1 25 | 31.4% | 11.8% | ||
| Q4 24 | 31.6% | 15.7% | ||
| Q3 24 | 32.8% | 10.8% | ||
| Q2 24 | 31.2% | 11.2% |
| Q1 26 | — | $1.31 | ||
| Q4 25 | $3.03 | $1.13 | ||
| Q3 25 | $3.18 | $1.28 | ||
| Q2 25 | $3.14 | $1.00 | ||
| Q1 25 | $2.60 | $1.04 | ||
| Q4 24 | $2.80 | $0.89 | ||
| Q3 24 | $3.13 | $0.91 | ||
| Q2 24 | $2.80 | $0.92 |
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 | $2.1B |
| Total DebtLower is stronger | $40.0B | — |
| Stockholders' EquityBook value | $-1.8B | — |
| Total Assets | $59.5B | $44.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $2.1B | ||
| Q4 25 | $774.0M | $2.5B | ||
| Q3 25 | $2.4B | $2.4B | ||
| Q2 25 | $1.9B | $2.0B | ||
| Q1 25 | $1.2B | $1.7B | ||
| Q4 24 | $1.1B | $2.0B | ||
| Q3 24 | $1.2B | $1.6B | ||
| Q2 24 | $792.0M | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | $40.0B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $38.4B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $-1.8B | $9.7B | ||
| Q3 25 | $-2.2B | $9.8B | ||
| Q2 25 | $-2.8B | $9.3B | ||
| Q1 25 | $-3.5B | $8.9B | ||
| Q4 24 | $-3.8B | $8.4B | ||
| Q3 24 | $-5.2B | $8.4B | ||
| Q2 24 | $-4.8B | $7.8B |
| Q1 26 | — | $44.3B | ||
| Q4 25 | $59.5B | $44.1B | ||
| Q3 25 | $60.6B | $43.7B | ||
| Q2 25 | $59.6B | $42.7B | ||
| Q1 25 | $56.3B | $41.3B | ||
| Q4 24 | $55.2B | $40.6B | ||
| Q3 24 | $56.2B | $40.4B | ||
| Q2 24 | $53.8B | $38.9B |
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.
| Q1 26 | — | — | ||
| Q4 25 | $2.7B | $995.1M | ||
| Q3 25 | $3.4B | $1.1B | ||
| Q2 25 | $2.0B | $703.8M | ||
| Q1 25 | $2.4B | $743.8M | ||
| Q4 24 | $2.6B | $810.0M | ||
| Q3 24 | $2.7B | $1.2B | ||
| Q2 24 | $1.7B | $881.3M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 1.25× | 2.21× | ||
| Q3 25 | 1.50× | 2.23× | ||
| Q2 25 | 0.89× | 1.75× | ||
| Q1 25 | 1.30× | 1.78× | ||
| Q4 24 | 1.30× | 1.41× | ||
| Q3 24 | 1.21× | 3.39× | ||
| Q2 24 | 0.84× | 2.37× |
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% |
WRB
Segment breakdown not available.
