McDonald's vs Chipotle Business Model (2026)
McDonald's earns most from Rents from franchised restaurants (38.8%), while Chipotle earns most from Food and beverage (99.5%). Computed from McDonald's 10-K FY2025 and Chipotle 10-K FY2025.
Last checked 2026-10-18 on the official pages.
McDonald's
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Company-owned and operated restaurant sales | $9,690 million ($9.7 billion) | 36.0% | 10-K FY2025 ↗ |
| Rents from franchised restaurants | $10,442 million ($10.4 billion) | 38.8% | 10-K FY2025 ↗ |
| Royalties from franchised restaurants | $6,018 million ($6.0 billion) | 22.4% | 10-K FY2025 ↗ |
| Initial franchise fees | $88 million | 0.3% | 10-K FY2025 ↗ |
| Other revenues | $647 million | 2.4% | 10-K FY2025 ↗ |
| Total revenue | $26,885 million ($26.9 billion) | — | 10-K FY2025 ↗ |
Chipotle
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Food and beverage | $11,866 million ($11.9 billion) | 99.5% | 10-K FY2025 ↗ |
| Delivery service | $60 million | 0.5% | 10-K FY2025 ↗ |
| Total revenue | $11,926 million ($11.9 billion) | — | 10-K FY2025 ↗ |
Shared business models
No shared business model is recorded for this pair.
Company and model pages
McDonald's: Franchise and real estate
Chipotle: Retail margin
Frequently asked questions
How does McDonald's make money?
McDonald's makes money mainly from Rents from franchised restaurants. Its FY2025 total revenue was $26,885 million ($26.9 billion), with Rents from franchised restaurants the biggest disclosed revenue line at $10,442 million ($10.4 billion) and 38.8% of total revenue (computed from the 10-K FY2025). Rent from franchisees is McDonald’s biggest revenue line, ahead of company-operated restaurant sales and royalties.
How does Chipotle make money?
Chipotle makes money mainly from Food and beverage. Its FY2025 total revenue was $11,926 million ($11.9 billion), with Food and beverage the biggest disclosed revenue line at $11,866 million ($11.9 billion) and 99.5% of total revenue (computed from the 10-K FY2025). Chipotle’s food and beverage revenue comes from selling food and drinks.