MCD vs QSR
Mcdonalds Corp. and Restaurant Brands International Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | MCD | QSR |
|---|---|---|
| Revenue | $26.9B | $9.4B |
| Net income | $8.6B | $1.1B |
| Gross margin | · | · |
| Net margin | 31.9% | 11.4% |
| Return on equity | · | · |
| Diluted EPS | $11.95 | $2.35 |
| Dividend / share | $7.17 | $2.48 |
| Payout ratio | 59.7% | · |
| Free cash flow | $7.2B | $1.4B |
| Equity | $-1.8B | $3.6B |
| Net debt / equity | · | 3.33× |
| Current ratio | 0.95× | 0.98× |
| Revenue CAGR 5y | 7.0% | 13.7% |
| Profit CAGR 5y | 12.6% | 7.5% |
MCD bills 2.8× the revenue of QSR, and keeps more of each dollar of revenue as profit (31.9% against 11.4%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | MCD | QSR |
|---|---|---|
| FY2025 | $26.9B | $9.4B |
| FY2024 | $25.9B | $8.4B |
| FY2023 | $25.5B | $7.0B |
| FY2022 | $23.2B | $6.5B |
| FY2021 | $23.2B | $5.7B |
| FY2020 | $19.2B | $5.0B |
| FY2019 | $21.4B | $5.6B |
| FY2018 | $21.3B | $5.4B |
| FY2017 | $22.8B | $4.6B |
| FY2016 | $24.6B | $4.1B |
Bottom line
| Fiscal year | MCD | QSR |
|---|---|---|
| FY2025 | $8.6B | $1.1B |
| FY2024 | $8.2B | $1.4B |
| FY2023 | $8.5B | $1.7B |
| FY2022 | $6.2B | $1.5B |
| FY2021 | $7.5B | $1.3B |
| FY2020 | $4.7B | $750.0M |
| FY2019 | $6.0B | $1.1B |
| FY2018 | $5.9B | $1.1B |
| FY2017 | $5.2B | $1.2B |
| FY2016 | $4.7B | $956.0M |
14 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$17,451,000,000 | MCD |
| FY2024 | +$17,514,000,000 | MCD |
| FY2023 | +$18,472,000,000 | MCD |
| FY2022 | +$16,678,000,000 | MCD |
| FY2021 | +$17,483,900,000 | MCD |
| FY2020 | +$14,239,800,000 | MCD |
| FY2019 | +$15,761,400,000 | MCD |
| FY2018 | +$15,900,900,000 | MCD |
| FY2017 | +$18,244,400,000 | MCD |
| FY2016 | +$20,475,900,000 | MCD |
| FY2015 | +$21,360,800,000 | MCD |
| FY2014 | +$26,242,500,000 | MCD |
| FY2013 | +$26,959,400,000 | MCD |
| FY2012 | +$25,596,100,000 | MCD |
MCD has reported the higher revenue in every one of these 14 fiscal years. The gap has narrowed since the earliest year compared.
14 of 19 comparable fiscal years — a year missing data on either side is not counted.
14 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +20.5 pp | MCD |
| FY2024 | +14.5 pp | MCD |
| FY2023 | +8.8 pp | MCD |
| FY2022 | +3.9 pp | MCD |
| FY2021 | +10.7 pp | MCD |
| FY2020 | +9.5 pp | MCD |
| FY2019 | +8.4 pp | MCD |
| FY2018 | +6.5 pp | MCD |
| FY2017 | −4.2 pp | QSR |
| FY2016 | −4.0 pp | QSR |
| FY2015 | +5.2 pp | MCD |
| FY2014 | +39.8 pp | MCD |
| FY2013 | −0.5 pp | QSR |
| FY2012 | +13.9 pp | MCD |
The higher net margin has changed hands between MCD and QSR over this period.
14 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
QSR's net margin has been more volatile than MCD's over the 14 comparable fiscal years — 11.9 percentage points of standard deviation against 5.6.
14 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between MCD and QSR over these 14 fiscal years — MCD led in 11 and QSR in 3.
14 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
QSR's return on equity has been more volatile than MCD's over the 3 comparable fiscal years — 3.5 percentage points of standard deviation against 1.6.
3 of 9 comparable fiscal years — a year missing data on either side is not counted.
Year by year
MCD led in return on equity in every one of the 3 comparable fiscal years — a structural lead, not a recent swing.
3 of 9 comparable fiscal years — a year missing data on either side is not counted.