International Operated Markets

Markets where McDonald's both owns and operates restaurants and franchises them, such as the U.K., Germany, France, Australia and Canada. Company-operated sales add to revenue here, so this segment's revenue is more sensitive to local demand and currency than the franchised U.S. system.

Why it matters to the stock. This segment makes up the largest share of revenue, so FX and European or Australian consumer demand drive a large part of the consolidated numbers.