McDonald's Corporation (MCD)
Coverage summary
Aardvark Labs Capital Research has covered McDonald's Corporation (MCD) since August 7, 2025. The company is in the Consumer Cyclical sector. This page lists 6 reports: 6 earnings recaps.
The latest is the Q3 2026 Earnings Recap, published November 5, 2026. The current rating is Hold, unchanged since the Q2 2026 Earnings Recap of August 9, 2026. The rating has changed twice since coverage began.
Translations: 5 in Chinese.
Rating history
All MCD reports
Recap: Q3 2026
Maintaining Hold: The Revenue Miss and the EPS Beat Have the Same Cause, and the U.S. Value Fix Is a 2027 Event
Recap: Q2 2026
Downgrading to Hold: The U.S. Miss Was Self-Inflicted, Not the Minecraft Lap. Comp +0.8% on Negative Guest Counts, a Third of the System Off the Value Architecture, July Already Negative, and a New U.S. President Installed the Morning of the Print
Recap: Q1 2026
Maintaining Outperform — Clean Beat on US Comp +3.9% Plus EPS, McCafe US National Rollout Launched May 6 (One Day Before This Print), McValue 2.0 Under-$3 Menu Unanimously Approved by Franchisees, and a ~13% Stock De-Rating Since Q4 Print Creates an Attractive Entry Into the Multi-Catalyst Back Half of 2026
Recap: Q4 2025
Upgrading to Outperform from Hold — US Comp of +6.8% Blew Through the +4% Upgrade Threshold, EVMs + MONOPOLY + Grinch + E. coli Lap All Fired, Restaurant Margin Crossed $15B for the Year, and 2026 Has Three Distinct Catalyst Windows (McCafe Beverage Launch, June Convention, Fall Investor Update)
Recap: Q3 2025
Maintaining Hold — EVM Relaunch Fixes the Right Structural Problem and Restaurant Margin Crosses $4B for the First Time Ever, But a $0.13 EPS Miss, a 22.8% Tax-Rate Surprise, and US Comp Deceleration to +2.4% Defer the Outperform Catalyst to Q4
Recap: Q2 2025
Initiating at Hold — The U.S. Inflects Positive at +2.5%, Global Comp Hits a Two-Year High, But the Low-Income Drag and a Trimmed Company-Operated Margin Keep the Risk/Reward Balanced