McDonald's Corp. (MCD) Earnings Analysis

McDonald's Corp. (MCD) reported results in line with expectations in Q2 FY2026 on revenue of $7.1B versus the $7.1B estimate (+3.7% YoY) and EPS of $3.38. The next McDonald's Corp. (MCD) earnings date is Nov 4, 2026. Below is the full McDonald's Corp. earnings breakdown — the risk-adjusted verdict, price forecast, technicals, options and hedge-fund 13F holdings, decoded in plain English.

McDonald's Corp. (MCD) Earnings Analysis — key stats

Next earnings dateNov 4, 2026
Latest reported quarterQ2 FY2026
Earnings verdictIn line
EPS beat rate2 of last 8 (quarters above estimate)
Avg next-day move±2.6% (over the last 8 reports)
Post-earnings directionUp 4 / Down 4 (of the last 8 reports)
Implied move (next report)±8.4% (options-derived · into Nov 4, 2026)
Institutional ownership118.0% (13F as of 2026-06-30)
Top 10 holders35.4% (of shares outstanding)
Insider activity2 buys / 0 sells (recent Form 4 filings)
Revenue$7.1B (vs $7.1B est · -0.4% surprise · +3.7% YoY)
EPS$3.38 (vs $3.32 est · +1.8% surprise · +5.4% YoY)
Share price$272.54 (+0.6%)
Market cap$193.6B

McDonald's Corp. (MCD) Earnings Analysis — beat / miss history

QuarterRevenueEPSEPS surpriseNext-day moveVerdict
Q3 FY2026$7.1B vs $7.1B est$3.38 vs $3.32 est+1.8%+3.3%In line
Q2 FY2026$6.5B vs $6.5B est$2.83 vs $2.74 est+3.3%-2.9%Mixed
Q1 FY2026$7.0B vs $6.8B est$3.12 vs $3.05 est+2.3%+1.9%Beat
Q4 FY2025$7.1B vs $7.1B est$3.22 vs $3.33 est-3.3%-0.3%Mixed
Q3 FY2025$6.8B vs $6.7B est$3.19 vs $3.14 est+1.6%+3.1%Mixed
Q2 FY2025$6.0B vs $6.1B est$2.67 vs $2.66 est+0.4%-2.4%Mixed
Q1 FY2025$6.4B vs $6.4B est$2.83 vs $2.85 est-0.7%+5.4%In line
Q4 FY2024$6.9B vs $6.8B est$3.23 vs $3.20 est+0.9%-1.8%In line

Top institutional holders

Holder% outstandingSharesValueQoQ change
Blackrock, INC.7.8%55.4M$15.0B+0.2%
Vanguard Capital Management LLC6.5%46.4M$12.5B+0.4%
State Street Corp5.1%36.1M$9.8B+1.8%
Jpmorgan Chase & CO4.5%31.9M$8.5B-15.2%
Vanguard Portfolio Management LLC2.6%18.8M$5.1B-1.7%
Geode Capital Management, LLC2.5%18.1M$4.9B+0.8%
Morgan Stanley2.1%15.0M$4.1B-3.8%
Bank Of America Corp /De/1.5%11.0M$3.0B-9.5%
Norges Bank1.4%9.9M$2.7B+100.0%
Price T Rowe Associates INC /Md/1.3%9.0M$2.4B-7.3%

Recent insider transactions

InsiderRoleDateTypeSharesValue
Anderson Skyeofficer: President, McDonald's USA2026-08-04Other0—
Anderson Skyeofficer: President, McDonald's USA2026-08-04Other10K$2.2M
Anderson Skyeofficer: President, McDonald's USA2026-08-04Other15K$3.2M
Anderson Skyeofficer: President, McDonald's USA2026-08-04Other11K$2.8M
Anderson Skyeofficer: President, McDonald's USA2026-08-04Other9K$2.3M
Anderson Skyeofficer: President, McDonald's USA2026-08-04Other8K$2.2M
Anderson Skyeofficer: President, McDonald's USA2029-02-13Other3K—
Anderson Skyeofficer: President, McDonald's USA2026-08-04Other16K$5.3M

What you'll find

Frequently asked questions

When is McDonald's Corp.'s next earnings date?
McDonald's Corp.'s (MCD) next scheduled earnings date is Nov 4, 2026. Magnisto shows the confirmed date, the options-implied expected move and the revenue and EPS estimates Wall Street is modeling into the report.
Did McDonald's Corp. (MCD) beat or miss earnings?
In Q2 FY2026, McDonald's Corp. (MCD) posted in-line results — revenue of $7.1B versus the $7.1B estimate (-0.4% surprise) and EPS of $3.38 versus $3.32 expected (+1.8% surprise). Magnisto decodes every McDonald's Corp. (MCD) report into a clear Beat, Miss, In-line or Mixed verdict and checks whether guidance was raised, held or cut.
How often does McDonald's Corp. beat earnings estimates?
Over its last 8 reported quarters, McDonald's Corp. (MCD) beat Wall Street EPS estimates 2 times, most recently a in-line result in Q3 FY2026. Magnisto tracks every McDonald's Corp. (MCD) quarter's revenue and EPS versus consensus and grades each one Beat, Miss, In-line or Mixed at a unified ±2% threshold.
How much does McDonald's Corp. stock move after earnings?
Over its last 8 quarterly reports, McDonald's Corp. (MCD) moved an average of ±2.6% the day after earnings — ranging from -2.9% (Q2 FY2026) to +5.4% (Q1 FY2025). The stock rose after 4 of those 8 reports and fell after 4. Heading into its next report on Nov 4, 2026, options-implied volatility is pricing in a move of roughly ±8.4% (derived). Magnisto tracks the realized post-earnings move for every McDonald's Corp. (MCD) quarter alongside the beat/miss verdict — past moves don't predict the next one.
Who are the largest shareholders of McDonald's Corp.?
Institutions hold about 118.0% of McDonald's Corp.'s (MCD) shares outstanding as of the 2026-06-30 13F quarter. Its largest institutional holders include Blackrock, INC. (7.8%), Vanguard Capital Management LLC (6.5%), State Street Corp (5.1%). Magnisto lists McDonald's Corp.'s (MCD) top 13F holders with each stake size and its quarter-over-quarter change.
Are insiders buying or selling McDonald's Corp. (MCD)?
In the most recent Form 4 filings Magnisto tracks, McDonald's Corp. (MCD) insiders recorded 2 purchases and 0 sales — net buying. Insider transactions are one signal among many and are often routine (option exercises or scheduled 10b5-1 sales), so Magnisto shows the raw feed for you to judge.
What is the forecast for McDonald's Corp. (MCD) stock?
Magnisto blends analyst price targets, quantitative research, technical trend and options-implied moves into a scenario range for McDonald's Corp. (MCD), anchored to the current $272.54 share price, so you can weigh the bull, base and bear cases for McDonald's Corp. side by side.
Is McDonald's Corp. (MCD) a buy right now?
Magnisto does not give buy or sell tips. It gives you the institutional-grade evidence — the verdict, valuation, risks, technicals and hedge-fund 13F flows — so you can decide whether McDonald's Corp. fits your own thesis and risk profile. This is research, not investment advice.

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Educational research, not investment advice. Figures are illustrative and may be delayed.