Can McDonald's approach to value continue to drive customer visits in 2026?

McDonald’s Delivers Robust Q4 2025 Results

McDonald’s Corporation (MCD) posted impressive results for the fourth quarter of 2025, with global comparable sales climbing 5.7% and positive guest counts across all divisions. In the United States, comparable sales advanced by 6.8%, while International Operated Markets and International Developmental Licensed Markets saw increases of 5.2% and 4.5%, respectively. The company’s leadership emphasized that total systemwide sales nearly reached $140 billion for the year, signaling strong demand across various regions.

Customer traffic was closely tied to McDonald’s focus on value. Initiatives such as the introduction of McValue and the return of Extra Value Meals in the U.S. were credited with boosting the brand’s value perception and attracting more guests. In December, the company gained market share among lower-income consumers and saw improvements in value and affordability ratings. Management stressed that value is a core part of McDonald’s identity, not just a short-term pricing strategy.

Marketing efforts and digital engagement also played a significant role in driving traffic. Campaigns like MONOPOLY and the Grinch promotion in the fourth quarter generated high customer participation and strong sales. The company’s loyalty program now boasts around 210 million active users over a 90-day period in 70 markets. According to management, loyalty members tend to visit more often and spend more, highlighting the importance of digital connections for repeat business.

Looking forward, McDonald’s plans to open roughly 2,600 new restaurants in 2026. The company believes that continued success will depend on maintaining a disciplined approach to value, marketing, and menu innovation. While the quick-service restaurant sector is expected to remain competitive—especially among different income groups—McDonald’s reiterated its commitment to value and affordability as central pillars of its strategy.

Stock Performance, Valuation, and Analyst Estimates

Over the past year, McDonald’s shares have risen 9.5%, outperforming the broader restaurant industry, which declined by 4.2%. In contrast, Starbucks Corporation (SBUX), Sweetgreen, Inc. (SG), and CAVA Group, Inc. (CAVA) saw their shares fall by 13.3%, 74.6%, and 13.4%, respectively.

McDonald’s One-Year Stock Performance

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From a valuation perspective, McDonald’s trades at a forward price-to-sales (P/S) ratio of 8.2, which is significantly higher than the industry average of 3.79. By comparison, Starbucks, Sweetgreen, and CAVA have forward P/S ratios of 2.84, 0.92, and 6.87, respectively.

MCD Forward P/S Ratio vs. Industry

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Analyst consensus for McDonald’s 2026 earnings per share has moved lower over the past month.

EPS Trend for MCD

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Despite the recent estimate revision, McDonald’s is still expected to deliver an 8.6% increase in earnings for 2026. For comparison, Sweetgreen and CAVA are projected to grow earnings by 12.7% and 3.7%, respectively, while Starbucks is forecasted to see an 8.5% year-over-year rise in fiscal 2026 earnings.

Currently, MCD holds a Zacks Rank #3 (Hold).

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