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Operates and franchises McDonald's restaurants across Japan under license from the US parent.
Operates and franchises McDonald's restaurants across Japan under license from the US parent.
Runs a mix of company-owned and franchised restaurants under a master licence from McDonald's Corporation, which holds a large stake. Earnings follow customer traffic and pricing, and promotions around limited-time burgers and app coupons drive the business.
In one line: The Japanese McDonald's franchisee/operator.
Moat: narrow (brand, distribution, scale). Exclusive McDonald's brand license and extensive store network across Japan.
Headquarters: Tokyo, Japan · Founded: 1971 · Employees: 2,454
Size McDonald's Holdings Company (Japan) (2702.T) is a Japan Consumer Discretionary company (Restaurants) with a market value of $7.33B, the 175th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥8,698 on 6 Nov 2026.
Performance Over six months the shares gained 7.1%, against +16.6% for the median peer and +1.8% for the Japan market (cap-weighted) — 9th lowest of 20 in its peer set.
Growth Revenue grew 2.3% over the last twelve months (peer median +10.8%); the operating margin is 13.7% (peer median 8.9%).
Valuation It trades at 32.0× forward earnings against a peer median of 26.8× (9th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -6 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 12.9 points above its cost of capital (5.0% WACC).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥417B | ¥417B | ¥405B | ¥382B | ¥352B |
| Revenue growth | — | +3% | +6% | +8% | — |
| Gross profit | ¥90.4B | ¥83.0B | ¥77.3B | ¥68.9B | ¥61.5B |
| EBITDA | ¥75.9B | ¥71.4B | ¥65.1B | ¥56.6B | ¥47.7B |
| Net income | ¥36.8B | ¥33.9B | ¥32.0B | ¥25.2B | ¥19.9B |
| Free cash flow | n/a | ¥15.7B | ¥13.5B | ¥18.9B | -¥1.00M |
| Capital expenditure | n/a | ¥40.8B | ¥42.0B | ¥32.4B | ¥27.7B |
| Total debt | ¥77.0M | ¥156M | ¥263M | ¥392M | ¥480M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| McDonald's Holdings Company (Japan) 2702.T | $7.33B | +7% | +2% | 14% | 32.0× | 1.8% |
| Mos Food Services 8153.T | $845M | +10% | +6% | 5% | 30.3× | 2.2% |
| Zensho 7550.T | $12.2B | +41% | +12% | 7% | 34.3× | 6.1% |
| Yoshinoya 9861.T | $1.84B | +42% | +10% | 4% | 45.5× | 11.2% |
| Matsuya Foods 9887.T | $733M | +7% | +18% | 4% | n/a | n/a |
| Skylark 3197.T | $5.18B | +19% | +11% | 7% | 38.5× | 6.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2702.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +17.1% | +10.1% | 4th highest of 21 |
| 6-month return | +7.1% | +16.6% | 9th lowest of 20 |
| Distance from 52-week high | -5.2% | -16.6% | 4th highest of 21 |
| Revenue growth (TTM) | +2.3% | +10.8% | 2nd lowest of 21 |
| Operating margin | 13.7% | 8.9% | 4th highest of 21 |
| Forward P/E | 32.0× | 26.8× | 9th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 1.8% | 6.6% | 2nd least demanding of 19 |
| Growth delivered (Del g) | +7.6% | +14.6% | 5th lowest of 19 |
| Hurdle (Req g minus delivered) | -5.9 pp | -2.9 pp | 7th least demanding of 19 |
| ROIC minus cost of capital | +12.9 pp | +6.2 pp | 6th highest of 21 |
| EV / EBITDA | 14.3× | 14.4× | 10th cheapest of 21 |
| Net debt / EBITDA | -0.9× | 2.2× | 2nd least indebted of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| McDonald's Holdings Company (Japan) 2702.T | Japan | $7.33B | +7% | +2% | 14% | 32.0× | 1.8% | +7.6% |
| Food & Life Companies 3563.T | Japan | $7.34B | +12% | +24% | 10% | 35.6× | 6.9% | +16.0% |
| Haidilao 6862.HK | Hong Kong | $7.24B | -28% | +11% | 12% | 11.4× | 2.0% | +7.8% |
| CAVA CAVA | United States | $6.91B | -26% | +27% | 7% | 85.5× | 41.5% | +27.9% |
| Brinker International EAT | United States | $8.58B | +49% | +6% | 11% | 14.7× | 9.3% | +11.7% |
| Jersey Mike's Subs JMKE | United States | $6.03B | n/a | +11% | 21% | 26.3× | n/a | n/a |
| Dutch Bros BROS | United States | $5.90B | -36% | +30% | 10% | 31.0× | 36.3% | +38.0% |
| Sodexo SW.PA | France | $9.91B | +28% | 0% | 3% | 17.7× | 6.0% | +6.6% |
| Cheesecake Factory CAKE | United States | $5.32B | +73% | +8% | 7% | 21.2× | 16.7% | +13.6% |
| Skylark 3197.T | Japan | $5.18B | +19% | +11% | 7% | 38.5× | 6.4% | +9.7% |
| Domino's DPZ | United States | $11.0B | +4% | +4% | 20% | 16.3× | 1.8% | +3.7% |
| Texas Roadhouse TXRH | United States | $12.1B | +4% | +10% | 8% | 26.8× | 13.8% | +19.6% |
| Wingstop WING | United States | $4.42B | +26% | +7% | 28% | 35.3× | 21.9% | +22.9% |
| Zensho 7550.T | Japan | $12.2B | +41% | +12% | 7% | 34.3× | 6.1% | +16.3% |
| Aramark ARMK | United States | $13.9B | +17% | +11% | 4% | 19.8× | 16.1% | +7.6% |
| Jubilant Foodworks JUBLFOOD.NS | India | $3.20B | -5% | +16% | 10% | 61.4× | 28.6% | +23.5% |
| Yum China YUMC | United States | $17.1B | +6% | +10% | 13% | 15.3× | -7.5% | +7.4% |
| Shake Shack SHAK | United States | $3.08B | +2% | +17% | 5% | 55.7× | n/a | n/a |
| TORIDOLL 3397.T | Japan | $2.68B | +19% | +3% | 7% | 57.7× | 5.9% | +15.6% |
| Mitchells & Butlers MAB.L | United Kingdom | $2.56B | +25% | +3% | 12% | 10.2× | 4.7% | +12.9% |
| Saizeriya 7581.T | Japan | $2.52B | +60% | +17% | 5% | 26.9× | 4.6% | +19.0% |