McDonald's Corporation (MCD)
McDonald's operates and franchises one of the world's largest fast-food restaurant systems across more than 100 countries. Its heavily franchised model produces steady royalty and rent income from global operators.
MCD vs NKE: how the two businesses compare
- Bigger business: NKE, with $46.4B of yearly revenue, about 1.7× MCD's $26.9B.
- More profitable: MCD keeps 32 cents of each sales dollar as profit, against 7 cents at NKE.
- More cash from each sale: MCD turns 39 cents of each sales dollar into operating cash flow, against 6 cents at NKE.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
NIKE (NKE) is the larger business by reported revenue: $46.4B in its fiscal year ended May 2026, about 1.7× MCD's $26.9B (fiscal year ended Dec 2025). MCD's net margin was 31.9% and NKE's 6.7%. The SEC classifies them differently (Retail-Eating Places; Rubber & Plastics Footwear); what connects them is shared exposure to the International markets research theme, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Consumer Discretionary
- Different
- Separate classifications
- Different
- MCD December 31 · NKE May 31
- Jul 15, 2026
MCD vs NKE: quick comparison
| Company fact | MCD | NKE |
|---|---|---|
| Company | McDonald's Corporation | NIKE, Inc. |
| Exchange | NYSE | NYSE |
| Headquarters | Chicago, Illinois | Beaverton, Oregon |
| Founded | 1955 | 1964 |
| SEC industry | Retail-Eating Places | Rubber & Plastics Footwear |
| Fiscal year-end | December 31 | May 31 |
| Latest annual filing | 10-K · 2026-02-24 | 10-K · 2026-07-15 |
MCD vs NKE: audited financials
- Scale: NKE's $46.4B of revenue is about 1.7× MCD's $26.9B.
- Net margin: MCD kept 31.9% of revenue as net income versus 6.7% at NKE.
- Cash conversion: operating cash flow equalled MCD 39.2% of revenue, or 1.23× net income; NKE 6.2% of revenue, or 0.92× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: the fiscal years end about 5 months apart (2025-12-31 for MCD, 2026-05-31 for NKE), so each figure reflects somewhat different demand and cost conditions.
| Metric | MCD | NKE |
|---|---|---|
| Revenue | $26.9B2025-01-01 to 2025-12-31 · SEC filing | $46.4B2025-06-01 to 2026-05-31 · SEC filing |
| Net income | $8.6B2025-01-01 to 2025-12-31 · SEC filing | $3.1B2025-06-01 to 2026-05-31 · SEC filing |
| Operating cash flow | $10.6B2025-01-01 to 2025-12-31 · SEC filing | $2.9B2025-06-01 to 2026-05-31 · SEC filing |
| Diluted EPS | $11.952025-01-01 to 2025-12-31 · SEC filing | $2.102025-06-01 to 2026-05-31 · SEC filing |
| Net margin | 31.9%2025-01-01 to 2025-12-31 · SEC filing | 6.7%2025-06-01 to 2026-05-31 · SEC filing |
MCD: FY ending 2025-12-31 · NKE: FY ending 2026-05-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where MCD and NKE overlap, and where they don't
Overlap
- Shared research theme: International markets.
Differences
- Different SEC industries: MCD files as Retail-Eating Places; NKE as Rubber & Plastics Footwear.
- Offset fiscal calendars: MCD's year ends December 31 and NKE's May 31, about 5 months apart.
- Only NKE maps to Tariffs & trade.
- Scale: NKE reported about 1.7× the annual revenue of MCD.
- Profitability: net margin of 31.9% for MCD versus 6.7% for NKE.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
NIKE, Inc. (NKE)
Nike is the world's largest athletic footwear and apparel brand, selling through wholesale partners and a growing direct-to-consumer channel. Its global sourcing footprint gives it heavy exposure to trade and tariff policy.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves MCD
We have not yet published a company-specific driver list for MCD. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-24.
What moves NKE
- Direct-to-consumer digital sales trends relative to the wholesale channel
- Product and brand momentum across running, basketball, and lifestyle categories
- Greater China demand and performance relative to North America and EMEA
- Tariff exposure tied to a manufacturing base concentrated in Vietnam and Southeast Asia
The investment question
You now know NKE reports about 1.7× MCD's revenue, and MCD keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about their exposure to international markets, including “Direct-to-consumer digital sales trends relative to the wholesale channel” at NKE, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. MCD's fiscal year ends December 31, while NKE's ends May 31. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 33 matched transaction rows for MCD and 15 matched transaction rows for NKE. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
MCD primary filings
NKE primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
MCD vs NKE FAQs
Are MCD and NKE direct competitors?
Not necessarily. McDonald's files as Retail-Eating Places and NIKE as Rubber & Plastics Footwear. The pair is compared because both map to the International markets research theme, not because the filings show head-to-head competition.
Is MCD or NKE the bigger company by revenue?
NIKE (NKE) is the larger business by reported revenue: $46.4B in its fiscal year ended May 2026, about 1.7× MCD's $26.9B (fiscal year ended Dec 2025). MCD's net margin was 31.9% and NKE's 6.7%. The SEC classifies them differently (Retail-Eating Places; Rubber & Plastics Footwear); what connects them is shared exposure to the International markets research theme, not a common industry. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, MCD or NKE?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this MCD vs NKE comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers McDonald's Corporation and NIKE, Inc. tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
MCD vs NKE compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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