MCD — what changed in the latest 10-Q
A section-by-section comparison of MCD's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-07 vs the prior 10-Q · 2026-05-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +54 | −47 | ~26 | 117 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 3 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Other information | Text added/removed | +1 | −6 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-07
Introduced in 2020 and refreshed in 2023, the Company’s Accelerating the Arches strategy has been built on three growth pillars: Maximize our Marketing, Commit to the Core and Double Down on the 4D’s (Digital, Delivery, Drive Thru and Restaurant Development). Through these growth pillars, the Compan…
Building on the foundation established by Accelerating the Arches, in June 2026, the Company introduced McDonald’s > NEXT (the “NEXT Strategy”), its strategy to unlock the next era of growth and productivity. McDonald's > NEXT is how the Company will meet customers’ expectations for great value, gre…
As was true with the Accelerating the Arches strategy, at the heart of the NEXT Strategy are the Company’s purpose, mission and values which underpin our success.
The NEXT Strategy continues to reflect and advance the Company’s purpose, mission and values, and is comprised of four key pillars designed around one simple ambition: to be more customers’ first choice.
•Menu > NEXT is focused on elevating taste and quality across its menu while continuing to strengthen the Company’s position in its core categories: beef, chicken and beverages. Through menu innovation and operational excellence, the Company aims to deliver food that customers crave and create exper…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
The Company’s Accelerating the Arches growth strategy (the “Strategy”) encompasses all aspects of McDonald’s business as the leading global omni-channel restaurant brand. Our Strategy reflects the Company’s purpose, mission and values, as well as growth pillars that build on the Company’s competitiv…
The following purpose, mission and values underpin the Company’s success and are at the heart of our Strategy.
The following growth pillars, M-C-D, build on historic strengths and articulate areas of further opportunity. Under our Strategy, the Company will:
•Maximize our Marketing by investing in new, culturally relevant approaches, grounded in fan truths, to effectively communicate the story of our brand, food and purpose. The Company continues to build relevance with customers through emotional connections and world class creative, which are central …
•Commit to the Core menu by tapping into customer demand for the familiar and focusing on serving our iconic products that are beloved by customers around the world such as our World Famous Fries, Big Mac, Quarter Pounder and Chicken McNuggets, which are some of our seventeen unique billion-dollar b…
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-07
No officer (as defined in Rule 16a-1(f) under the Exchange Act) or director adopted, modified, or terminated a contract, instruction or written plan for the purchase or sale of the Company’s securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or a non-Rule 10b5-1 trad…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
In accordance with the disclosure requirement set forth in Item 408(a) of Regulation S-K, the following table discloses the officers (as defined in Rule 16a-1(f) under the Exchange Act) and directors who adopted a contract, instruction or written plan for the sale of the Company’s securities intende…
Name / TitleType of PlanAdoption DateEnd DateAggregate Number of Securities to be SoldPlan Description
Ian Borden / EVP – Global Chief Financial OfficerRule 10b5-1 trading planFebruary 19, 2026March 7, 202727,028Exercise and sale of stock options
Manu Steijart / EVP – President, International Operated MarketsRule 10b5-1 trading planFebruary 20, 2026June 30, 202610,253Exercise and sale of stock options
Desiree Ralls-Morrison / EVP – Global Chief Legal OfficerRule 10b5-1 trading planFebruary 26, 2026December 31, 202619,655Sale of shares, and exercise and sale of stock options
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice