| Stage | MCD | % of rev | NATH | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $7.1B | 100.00% | $54M | 100.00% | MCD ×131.31 |
| Gross profit | $4.3B | 60.30% | $19M | 34.88% | MCD +25.4pp |
| Operating income | $3.3B | 47.02% | $13M | 23.43% | MCD +23.6pp |
| Pre-tax income | $2.9B | 41.36% | $12M | 22.50% | MCD +18.9pp |
| Net income | $2.4B | 33.27% | $9M | 16.33% | MCD +16.9pp |
| Stage | MCD | NATH | Gap · A − B |
|---|---|---|---|
| Revenue | $7.1B100.00% | $54M100.00% | MCD ×131.31 |
| Gross profit | 60.30%$4.3B | 34.88%$19M | MCD +25.4pp |
| Operating income | 47.02%$3.3B | 23.43%$13M | MCD +23.6pp |
| Pre-tax income | 41.36%$2.9B | 22.50%$12M | MCD +18.9pp |
| Net income | 33.27%$2.4B | 16.33%$9M | MCD +16.9pp |
MCD · LW 10-KJul 24 '26
“Our largest customer, McDonald's Corporation, accounted for approximately 15%, 15%, and 14% of our consolidated net sales in fiscal 2026, 2025, and 2024, respectively.”
NATH 10-KJun 9 '26
“Through licensing programs with such companies as Smithfield Foods, and Lamb Weston, Inc., over fifteen Nathan's Famous branded SKUs are sold through grocery retail channels.”