As of Q3'25, McDonald's (MCD) reported an ROA of 3.76%, an ROIC of 5.00%, and an ROE of -105.32%. The most recent data point shows that while ROA and ROIC remain positive, ROE has declined significantly into negative territory. From Q1'23 to Q3'25, the chart reveals that ROA and ROIC have remained relatively stable, fluctuating within a narrow range around 3.3%–4.6% for ROA and 4.5%–6.1% for ROIC, indicating consistent operational efficiency. In contrast, ROE has shown a pronounced downward trend, turning negative in Q1'23 and deteriorating further each quarter, with a sharp decline after Q4'24. This divergence suggests underlying issues with equity returns despite stable asset and capital returns, warranting closer examination of capital structure or extraordinary items impacting equity.