263.09
USD
-2.54
(-0.96%)
Pre Open·268.67USD+5.58(+2.12%)
Last updated: · Delayed 15 min
Fair value320.16Plus-18%231Price 263.09439
Q3 FY2026 · Earnings report · Results coming soon
EPS estimate 3.38Revenue estimate 7.28B
Q3 FY2026 · Earnings report
· Results coming soon
EPS estimate 3.38Revenue estimate 7.28B
McDonald's Corp revenue 1985–2026
McDonald's Corp's revenue in Q2 FY2026, the three months to 30 June 2026, was 7.10B USD, up 3.7% on the same quarter a year before. McDonald's Corp's revenue over the last twelve months was 27.70B USD, up 6.3% on the twelve months before. In fiscal year 2025 it was 26.89B USD, up 3.7% on the year before.
Last updated 4 Nov 2026 · Next report 4 Nov 2026
Revenue
Growth
| Fiscal year | Period ending | Revenue | Growth | Gross profit | Net income |
|---|---|---|---|---|---|
| TTM | 30 Jun 2026 | 27.70B | +6.30% | 15.90B | 8.79B |
| FY2025 | 31 Dec 2025 | 26.89B | +3.72% | 15.44B | 8.56B |
| FY2024 | 31 Dec 2024 | 25.92B | +1.67% | 14.71B | 8.22B |
| FY2023 | 31 Dec 2023 | 25.49B | +9.97% | 14.56B | 8.47B |
| FY2022 | 31 Dec 2022 | 23.18B | -0.17% | 13.21B | 6.18B |
| FY2021 | 31 Dec 2021 | 23.22B | +20.90% | 12.58B | 7.55B |
| FY2020 | 31 Dec 2020 | 19.21B | -8.87% | 9.75B | 4.73B |
| FY2019 | 31 Dec 2019 | 21.08B | +0.24% | 11.12B | 6.03B |
| FY2018 | 31 Dec 2018 | 21.03B | -7.87% | 10.79B | 5.92B |
| FY2017 | 31 Dec 2017 | 22.82B | -7.32% | 10.62B | 5.19B |
| FY2016 | 31 Dec 2016 | 24.62B | -3.11% | 10.20B | 4.69B |
| FY2015 | 31 Dec 2015 | 25.41B | -7.39% | 9.79B | 4.53B |
| FY2014 | 31 Dec 2014 | 27.44B | -2.36% | 10.46B | 4.76B |
| FY2013 | 31 Dec 2013 | 28.11B | +1.95% | 10.90B | 5.59B |
| FY2012 | 31 Dec 2012 | 27.57B | +2.08% | 10.82B | 5.46B |
| FY2011 | 31 Dec 2011 | 27.01B | +12.18% | 10.69B | 5.50B |
| FY2010 | 31 Dec 2010 | 24.07B | +5.85% | 9.64B | 4.95B |
| FY2009 | 31 Dec 2009 | 22.74B | -3.31% | 8.79B | 4.55B |
| FY2008 | 31 Dec 2008 | 23.52B | +3.23% | 8.64B | 4.31B |
| FY2007 | 31 Dec 2007 | 22.79B | +9.05% | 7.91B | 2.40B |
| FY2006 | 31 Dec 2006 | 20.90B | +9.30% | 6.93B | 3.54B |
| FY2005 | 31 Dec 2005 | 19.12B | +2.81% | 6.18B | 2.60B |
| FY2004 | 31 Dec 2004 | 18.59B | +8.48% | 5.90B | 2.28B |
| FY2003 | 31 Dec 2003 | 17.14B | +11.26% | 8.61B | 1.47B |
| FY2002 | 31 Dec 2002 | 15.41B | +3.60% | 7.74B | 893.50M |
| FY2001 | 31 Dec 2001 | 14.87B | +4.40% | 7.52B | 1.64B |
| FY2000 | 31 Dec 2000 | 14.24B | +7.42% | 7.41B | 1.98B |
| FY1999 | 31 Dec 1999 | 13.26B | +6.75% | 8.07B | 1.95B |
| FY1998 | 31 Dec 1998 | 12.42B | +8.88% | 7.58B | 1.55B |
| FY1997 | 31 Dec 1997 | 11.41B | +6.76% | 9.43B | 1.64B |
| FY1996 | 31 Dec 1996 | 10.69B | +9.11% | 8.88B | 1.57B |
| FY1995 | 31 Dec 1995 | 9.79B | +17.71% | 6.17B | 1.43B |
| FY1994 | 31 Dec 1994 | 8.32B | +12.32% | 5.33B | 1.22B |
| FY1993 | 31 Dec 1993 | 7.41B | +3.85% | 4.72B | 1.08B |
| FY1992 | 31 Dec 1992 | 7.13B | +6.55% | 6.00B | 958.60M |
| FY1991 | 31 Dec 1991 | 6.70B | +0.83% | 5.58B | 859.60M |
| FY1990 | 31 Dec 1990 | 6.64B | +8.10% | 5.45B | 802.30M |
| FY1989 | 31 Dec 1989 | 6.14B | +10.34% | 2.56B | 727.00M |
| FY1988 | 31 Dec 1988 | 5.57B | +13.75% | 2.28B | 645.90M |
| FY1987 | 31 Dec 1987 | 4.89B | +18.10% | 2.03B | 549.10M |
| FY1986 | 31 Dec 1986 | 4.14B | +12.15% | 2.34B | 479.70M |
| FY1985 | 31 Dec 1985 | 3.69B | — | 2.21B | 433.00M |
| Quarter | Period ending | Revenue | Growth on a year before | Gross profit | Net income |
|---|---|---|---|---|---|
| Q2 FY2026 | 30 Jun 2026 | 7.10B | +3.74% | 4.12B | 2.36B |
| Q1 FY2026 | 31 Mar 2026 | 6.52B | +9.42% | 3.64B | 1.98B |
| Q4 FY2025 | 31 Dec 2025 | 7.01B | +9.72% | 4.03B | 2.16B |
| Q3 FY2025 | 30 Sept 2025 | 7.08B | +2.98% | 4.11B | 2.28B |
| Q2 FY2025 | 30 Jun 2025 | 6.84B | +5.44% | 3.96B | 2.25B |
| Q1 FY2025 | 31 Mar 2025 | 5.96B | -3.45% | 3.34B | 1.87B |
| Q4 FY2024 | 31 Dec 2024 | 6.39B | -0.28% | 3.68B | 2.02B |
| Q3 FY2024 | 30 Sept 2024 | 6.87B | +2.70% | 3.88B | 2.26B |
| Q2 FY2024 | 30 Jun 2024 | 6.49B | -0.12% | 3.72B | 2.02B |
| Q1 FY2024 | 31 Mar 2024 | 6.17B | +4.60% | 3.44B | 1.93B |
| Q4 FY2023 | 31 Dec 2023 | 6.41B | +8.09% | 3.65B | 2.04B |
| Q3 FY2023 | 30 Sept 2023 | 6.69B | +13.97% | 3.86B | 2.32B |
| Q2 FY2023 | 30 Jun 2023 | 6.50B | +13.62% | 3.73B | 2.31B |
| Q1 FY2023 | 31 Mar 2023 | 5.90B | +4.10% | 3.31B | 1.80B |
| Q4 FY2022 | 31 Dec 2022 | 5.93B | -1.37% | 3.41B | 1.90B |
| Q3 FY2022 | 30 Sept 2022 | 5.87B | -5.31% | 3.45B | 1.98B |
| Q2 FY2022 | 30 Jun 2022 | 5.72B | -2.88% | 3.30B | 1.19B |
| Q1 FY2022 | 31 Mar 2022 | 5.67B | +10.56% | 3.05B | 1.10B |
| Q4 FY2021 | 31 Dec 2021 | 6.01B | +13.08% | 3.26B | 1.64B |
| Q3 FY2021 | 30 Sept 2021 | 6.20B | +14.46% | 3.43B | 2.15B |
| Q2 FY2021 | 30 Jun 2021 | 5.89B | +56.53% | 3.22B | 2.22B |
| Q1 FY2021 | 31 Mar 2021 | 5.12B | +8.70% | 2.67B | 1.54B |
| Q4 FY2020 | 31 Dec 2020 | 5.31B | -0.66% | 2.78B | 1.38B |
| Q3 FY2020 | 30 Sept 2020 | 5.42B | -0.23% | 2.90B | 1.76B |
| Q2 FY2020 | 30 Jun 2020 | 3.76B | -29.58% | 1.73B | 483.80M |
| Q1 FY2020 | 31 Mar 2020 | 4.71B | -4.87% | 2.34B | 1.11B |
| Q4 FY2019 | 31 Dec 2019 | 5.35B | +3.60% | 2.85B | 1.57B |
| Q3 FY2019 | 30 Sept 2019 | 5.43B | +1.14% | 2.90B | 1.61B |
| Q2 FY2019 | 30 Jun 2019 | 5.34B | -0.24% | 2.83B | 1.52B |
| Q1 FY2019 | 31 Mar 2019 | 4.96B | -3.57% | 2.54B | 1.33B |
| Q4 FY2018 | 31 Dec 2018 | 5.16B | -3.32% | 2.70B | 1.42B |
| Q3 FY2018 | 30 Sept 2018 | 5.37B | -6.69% | 2.82B | 1.64B |
| Q2 FY2018 | 30 Jun 2018 | 5.35B | -11.50% | 2.74B | 1.50B |
| Q1 FY2018 | 31 Mar 2018 | 5.14B | -9.46% | 2.53B | 1.38B |
| Q4 FY2017 | 31 Dec 2017 | 5.34B | -11.42% | 2.67B | 698.70M |
| Q3 FY2017 | 30 Sept 2017 | 5.75B | -10.42% | 2.82B | 1.88B |
| Q2 FY2017 | 30 Jun 2017 | 6.05B | -3.44% | 2.71B | 1.40B |
| Q1 FY2017 | 31 Mar 2017 | 5.68B | -3.86% | 2.43B | 1.21B |
| Q4 FY2016 | 31 Dec 2016 | 6.03B | -4.93% | 2.56B | 1.19B |
| Q3 FY2016 | 30 Sept 2016 | 6.42B | -2.89% | 2.75B | 1.28B |
| Q2 FY2016 | 30 Jun 2016 | 6.27B | -3.58% | 2.59B | 1.09B |
| Q1 FY2016 | 31 Mar 2016 | 5.90B | -0.92% | 2.31B | 1.12B |
| Q4 FY2015 | 31 Dec 2015 | 6.34B | -3.51% | 2.51B | 1.21B |
| Q3 FY2015 | 30 Sept 2015 | 6.62B | -5.32% | 2.59B | 1.31B |
| Q2 FY2015 | 30 Jun 2015 | 6.50B | -9.52% | 2.49B | 1.20B |
| Q1 FY2015 | 31 Mar 2015 | 5.96B | -11.07% | 2.20B | 811.50M |
| Q4 FY2014 | 31 Dec 2014 | 6.57B | -7.35% | 2.47B | 1.10B |
| Q3 FY2014 | 30 Sept 2014 | 6.99B | -4.59% | 2.68B | 1.07B |
| Q2 FY2014 | 30 Jun 2014 | 7.18B | +1.38% | 2.78B | 1.39B |
| Q1 FY2014 | 31 Mar 2014 | 6.70B | +1.44% | 2.52B | 1.20B |
| Q4 FY2013 | 31 Dec 2013 | 7.09B | +2.03% | 2.74B | 1.40B |
| Q3 FY2013 | 30 Sept 2013 | 7.32B | +2.39% | 2.91B | 1.52B |
| Q2 FY2013 | 30 Jun 2013 | 7.08B | +2.43% | 2.77B | 1.40B |
| Q1 FY2013 | 31 Mar 2013 | 6.61B | +0.90% | 2.48B | 1.27B |
| Q4 FY2012 | 31 Dec 2012 | 6.95B | +1.90% | 2.73B | 1.40B |
| Q3 FY2012 | 30 Sept 2012 | 7.15B | -0.19% | 2.85B | 1.46B |
| Q2 FY2012 | 30 Jun 2012 | 6.92B | +0.15% | 2.72B | 1.35B |
| Q1 FY2012 | 31 Mar 2012 | 6.55B | +7.12% | 2.52B | 1.27B |
| Q4 FY2011 | 31 Dec 2011 | 6.82B | +9.79% | 2.71B | 1.38B |
| Q3 FY2011 | 30 Sept 2011 | 7.17B | +13.66% | 2.91B | 1.51B |
| Q2 FY2011 | 30 Jun 2011 | 6.91B | +16.14% | 2.73B | 1.41B |
| Q1 FY2011 | 31 Mar 2011 | 6.11B | +8.94% | 2.34B | 1.21B |
| Q4 FY2010 | 31 Dec 2010 | 6.21B | +4.03% | 2.47B | 1.24B |
| Q3 FY2010 | 30 Sept 2010 | 6.30B | +4.27% | 2.61B | 1.39B |
| Q2 FY2010 | 30 Jun 2010 | 5.95B | +5.28% | 2.40B | 1.23B |
| Q1 FY2010 | 31 Mar 2010 | 5.61B | +10.49% | 2.16B | 1.09B |
| Q4 FY2009 | 31 Dec 2009 | 5.97B | +7.34% | 2.35B | 1.22B |
| Q3 FY2009 | 30 Sept 2009 | 6.05B | -3.52% | 2.41B | 1.26B |
| Q2 FY2009 | 30 Jun 2009 | 5.65B | -7.05% | 2.17B | 1.09B |
| Q1 FY2009 | 31 Mar 2009 | 5.08B | -9.57% | 1.86B | 979.50M |
| Q4 FY2008 | 31 Dec 2008 | 5.57B | -3.28% | 2.08B | 985.30M |
| Q3 FY2008 | 30 Sept 2008 | 6.27B | +6.21% | 2.36B | 1.19B |
| Q2 FY2008 | 30 Jun 2008 | 6.08B | +4.04% | 2.22B | 1.19B |
| Q1 FY2008 | 31 Mar 2008 | 5.61B | +6.09% | 1.98B | 946.10M |
| Q4 FY2007 | 31 Dec 2007 | 5.75B | +14.37% | 2.06B | 1.27B |
| Q3 FY2007 | 30 Sept 2007 | 5.90B | +7.23% | 2.12B | 1.07B |
| Q2 FY2007 | 30 Jun 2007 | 5.84B | +8.79% | 2.00B | -711.70M |
| Q1 FY2007 | 31 Mar 2007 | 5.29B | +7.71% | 1.72B | 762.40M |
| Q4 FY2006 | 31 Dec 2006 | 5.03B | -3.90% | 1.75B | 1.24B |
| Q3 FY2006 | 30 Sept 2006 | 5.50B | +3.31% | 1.88B | 843.30M |
| Q2 FY2006 | 30 Jun 2006 | 5.37B | +5.33% | 1.74B | 834.10M |
| Q1 FY2006 | 31 Mar 2006 | 4.91B | +2.31% | 1.52B | 625.30M |
| Q4 FY2005 | 31 Dec 2005 | 5.23B | +4.48% | 1.63B | 608.50M |
| Q3 FY2005 | 30 Sept 2005 | 5.33B | +8.15% | 1.68B | 735.40M |
| Q2 FY2005 | 30 Jun 2005 | 5.10B | +7.75% | 1.58B | 530.40M |
| Q1 FY2005 | 31 Mar 2005 | 4.80B | +9.16% | 1.44B | 727.90M |
| Q4 FY2004 | 31 Dec 2004 | 5.01B | +9.99% | 5.28B | 397.90M |
| Q3 FY2004 | 30 Sept 2004 | 4.93B | +9.35% | 1.59B | 778.40M |
| Q2 FY2004 | 30 Jun 2004 | 4.73B | +10.47% | 1.50B | 590.70M |
| Q1 FY2004 | 31 Mar 2004 | 4.40B | +15.79% | 1.33B | 511.50M |
| Q4 FY2003 | 31 Dec 2003 | 4.56B | +16.83% | 4.81B | 125.70M |
| Q3 FY2003 | 30 Sept 2003 | 4.50B | +11.31% | 1.43B | 547.40M |
| Q2 FY2003 | 30 Jun 2003 | 4.28B | +10.84% | 1.31B | 470.90M |
| Q1 FY2003 | 31 Mar 2003 | 3.80B | +5.62% | 1.07B | 327.40M |
| Q4 FY2002 | 31 Dec 2002 | 3.90B | +3.39% | 4.20B | -343.80M |
| Q3 FY2002 | 30 Sept 2002 | 4.05B | +4.32% | 1.25B | 486.70M |
| Q2 FY2002 | 30 Jun 2002 | 3.86B | +4.17% | 1.20B | 497.50M |
| Q1 FY2002 | 31 Mar 2002 | 3.60B | +2.44% | 1.09B | 253.10M |
| Q4 FY2001 | 31 Dec 2001 | 3.77B | +5.07% | 4.04B | 271.90M |
| Q3 FY2001 | 30 Sept 2001 | 3.88B | +3.48% | 1.24B | 545.50M |
| Q2 FY2001 | 30 Jun 2001 | 3.71B | +4.13% | 1.17B | 440.90M |
| Q1 FY2001 | 31 Mar 2001 | 3.51B | +5.02% | 1.07B | 378.30M |
| Q4 FY2000 | 31 Dec 2000 | 3.59B | +6.42% | 3.04B | 452.00M |
| Q3 FY2000 | 30 Sept 2000 | 3.75B | +8.85% | 1.51B | 548.50M |
| Q2 FY2000 | 30 Jun 2000 | 3.56B | +4.51% | 1.49B | 525.90M |
| Q1 FY2000 | 31 Mar 2000 | 3.34B | +10.17% | 1.37B | 450.90M |
| Q4 FY1999 | 31 Dec 1999 | 3.37B | +4.73% | 3.82B | 486.20M |
| Q3 FY1999 | 30 Sept 1999 | 3.44B | +7.13% | 1.49B | 540.90M |
| Q2 FY1999 | 30 Jun 1999 | 3.41B | +7.11% | 1.48B | 518.10M |
| Q1 FY1999 | 31 Mar 1999 | 3.04B | +8.21% | 1.27B | 402.70M |
| Q4 FY1998 | 31 Dec 1998 | 3.22B | +9.08% | 3.61B | 348.50M |
| Q3 FY1998 | 30 Sept 1998 | 3.22B | +6.95% | 1.40B | 482.20M |
| Q2 FY1998 | 30 Jun 1998 | 3.18B | +12.29% | 1.39B | 357.20M |
| Q1 FY1998 | 31 Mar 1998 | 2.80B | +7.16% | 1.19B | 362.20M |
| Q4 FY1997 | 31 Dec 1997 | 2.95B | +4.64% | 3.33B | 410.90M |
| Q3 FY1997 | 30 Sept 1997 | 3.01B | +8.37% | 1.27B | 448.90M |
| Q2 FY1997 | 30 Jun 1997 | 2.83B | +6.28% | 1.24B | 438.20M |
| Q1 FY1997 | 31 Mar 1997 | 2.62B | +7.90% | 1.13B | 344.50M |
| Q4 FY1996 | 31 Dec 1996 | 2.82B | +9.13% | 2.72B | 410.00M |
| Q3 FY1996 | 30 Sept 1996 | 2.77B | +7.51% | 1.37B | 440.60M |
| Q2 FY1996 | 30 Jun 1996 | 2.67B | +8.00% | 1.33B | 420.40M |
| Q1 FY1996 | 31 Mar 1996 | 2.43B | +12.25% | 1.19B | 301.60M |
| Q4 FY1995 | 31 Dec 1995 | 2.59B | +13.89% | 2.89B | 366.80M |
| Q3 FY1995 | 30 Sept 1995 | 2.58B | +15.94% | 1.18B | 400.10M |
| Q2 FY1995 | 30 Jun 1995 | 2.47B | +21.60% | 1.13B | 379.70M |
| Q1 FY1995 | 31 Mar 1995 | 2.16B | +20.34% | 978.70M | 280.70M |
| Q4 FY1994 | 31 Dec 1994 | 2.27B | +17.51% | 2.52B | 308.90M |
| Q3 FY1994 | 30 Sept 1994 | 2.23B | +14.46% | 1.04B | 349.80M |
| Q2 FY1994 | 30 Jun 1994 | 2.03B | +8.07% | 943.70M | 322.30M |
| Q1 FY1994 | 31 Mar 1994 | 1.80B | +8.58% | 826.10M | 243.40M |
| Q4 FY1993 | 31 Dec 1993 | 1.93B | +5.66% | 2.19B | 264.50M |
| Q3 FY1993 | 30 Sept 1993 | 1.94B | +1.66% | 915.80M | 310.90M |
| Q2 FY1993 | 30 Jun 1993 | 1.88B | +5.85% | 869.10M | 288.80M |
| Q1 FY1993 | 31 Mar 1993 | 1.65B | +2.21% | 747.00M | 218.30M |
| Q4 FY1992 | 31 Dec 1992 | 1.83B | +5.70% | 3.62B | 227.90M |
| Q3 FY1992 | 30 Sept 1992 | 1.91B | +10.13% | 873.30M | 289.20M |
| Q2 FY1992 | 30 Jun 1992 | 1.77B | +6.18% | 794.00M | 254.10M |
| Q1 FY1992 | 31 Mar 1992 | 1.62B | +3.88% | 710.40M | 187.40M |
| Q4 FY1991 | 31 Dec 1991 | 1.73B | +8.86% | 3.45B | 200.40M |
| Q3 FY1991 | 30 Sept 1991 | 1.74B | -4.38% | 772.70M | 258.70M |
| Q2 FY1991 | 30 Jun 1991 | 1.67B | -1.79% | 716.90M | 232.00M |
| Q1 FY1991 | 31 Mar 1991 | 1.56B | +1.61% | 638.10M | 168.50M |
| Q4 FY1990 | 31 Dec 1990 | 1.59B | +0.55% | 3.31B | 186.20M |
| Q3 FY1990 | 30 Sept 1990 | 1.82B | +11.30% | 777.10M | 242.20M |
| Q2 FY1990 | 30 Jun 1990 | 1.70B | +9.90% | 735.00M | 215.80M |
| Q1 FY1990 | 31 Mar 1990 | 1.53B | +10.95% | 624.70M | 158.10M |
| Q4 FY1989 | 31 Dec 1989 | 1.58B | +8.89% | 638.20M | 171.40M |
| Q3 FY1989 | 30 Sept 1989 | 1.63B | +11.71% | 697.60M | 217.90M |
| Q2 FY1989 | 30 Jun 1989 | 1.55B | +8.56% | 661.60M | 196.00M |
| Q1 FY1989 | 31 Mar 1989 | 1.38B | +12.49% | 0.00 | 141.70M |
| Q4 FY1988 | 31 Dec 1988 | 1.45B | +14.65% | 0.00 | 151.50M |
| Q3 FY1988 | 30 Sept 1988 | 1.46B | +11.18% | 0.00 | 191.30M |
| Q2 FY1988 | 30 Jun 1988 | 1.43B | +14.48% | 0.00 | 177.20M |
| Q1 FY1988 | 31 Mar 1988 | 1.23B | +14.98% | 0.00 | 125.80M |
| Q4 FY1987 | 31 Dec 1987 | 1.27B | +27.65% | 0.00 | 133.30M |
| Q3 FY1987 | 30 Sept 1987 | 1.31B | +15.88% | 0.00 | 162.30M |
| Q2 FY1987 | 30 Jun 1987 | 1.25B | +15.68% | 0.00 | 147.40M |
| Q1 FY1987 | 31 Mar 1987 | 1.07B | +13.49% | 0.00 | 106.00M |
| Q4 FY1986 | 31 Dec 1986 | 991.60M | +8.27% | 0.00 | 113.50M |
| Q3 FY1986 | 30 Sept 1986 | 1.13B | +11.75% | 0.00 | 142.30M |
| Q2 FY1986 | 30 Jun 1986 | 1.08B | — | 0.00 | 129.80M |
| Q1 FY1986 | 31 Mar 1986 | 941.40M | — | 0.00 | 94.10M |
| Q4 FY1985 | 31 Dec 1985 | 915.90M | — | 0.00 | 103.50M |
| Q3 FY1985 | 30 Sept 1985 | 1.01B | — | 0.00 | 128.10M |
Figures in USD. Shares and EPS are adjusted for stock splits. Quarterly growth is on the same quarter a year before; TTM is the last four quarters.
McDonald's Corp revenue growth by segment
Q2 FY2026 against Q2 FY2025
High-Growth Markets3.60B
+4.1%
UNITED STATES2.83B
+1.7%
International Developmental Licensed Markets and Corporate669.00M
+11.5%
McDonald's Corp revenue by segment over time
High-Growth Markets UNITED STATES International Developmental Licensed Markets and Corporate
See also:Net income,EPS,Shares outstanding,Operating income,Cash on hand,Total debt,Free cash flow,Stock buybacks,Income statement
Common questions about McDonald's Corp's revenue
Source: Financial Modeling Prep
