What investors are saying about McDonald's (MCD)

Summary

In the past 30 days, 5 people on 5 investor and market shows discussed McDonald's (MCD) in 6 views. Going by each speaker's latest call, 4 are bearish and 1 is bullish. Chorus has followed McDonald's since October 21, 2026.

Who talks about it most

• Peter Saleh · 2
• Steve Van Metre · 1
• Jim Cramer · 1
• Lindsay Owens · 1
• David Bahnsen · 1

The latest views

Newest first. Every quote is checked against the episode's transcript.

• Peter Saleh · BTIGBullish

  McDonald's pulling back from steep discounts toward quality is good for it; the value war is ending.

  Saleh says McDonald's has pulled back from steep discounts over the summer and is positioning toward quality. He believes this will be the industry's message going forward and is good for both the sector and McDonald's. He thinks the value war is slowly ending and that no one has won it. He notes steep discounts have not driven incremental traffic for anyone. Sales trends are improving: July and August were weak, September improved, and October shows sequential improvement in same-store sales, though not as strong as September.

  “I don't think discounts are going away, but I think those steep, steep discounts and that battle, that value war, I think is slowly coming to an end.”at 44:17

  CNBC Closing Bell: Closing Bell Overtime: Markets Brace for Election Results 11/3/26 · November 3, 2026

• Peter Saleh · BTIGBearish

  McDonald's store remodel program is too costly for franchisees; it won't move forward in its current form.

  Saleh says McDonald's is asking franchisees to remodel stores at about $1.2 to $1.3 million each. That is roughly 1.7 times the annual cash flow of a store, versus 1.2 times for the prior remodel, so it is significantly more expensive for franchisees. He says the returns have not been proven. He thinks the program will not move forward as currently structured. It would need more testing, value engineering to lower costs, and more contribution from corporate McDonald's to align franchisees. He calls the current level of franchisee friction too much.

  “What McDonald's is essentially asking them to do is remodel their stores. This remodel costs about [$1.2 to $1.3 million]. In essence, it's about 1.7 times the annual cash flow of a McDonald's store.”at 45:50

  CNBC Closing Bell: Closing Bell Overtime: Markets Brace for Election Results 11/3/26 · November 3, 2026

• Steve Van Metre · Steven Van Metre FinancialBearish

  McDonald's value push backfired; customers buy only the cheapest item and skip high-margin products.

  McDonald's cut prices, which franchisees say brought in customers who only buy the cheapest item. Those customers skip the high-margin items. McDonald's then brought back a coupon-style promotion with game tokens, which Steve sees as a way to raise effective prices again. He argues that customers who saw the higher price will walk away, because the game tokens are not worth the extra money.

  “The franchisees started complaining and say, hey, people are just showing up. They're getting on the app. They're buying the cheapest thing. They're not buying extra stuff.”at 2:20

  Eurodollar University: The US Consumer Is Just Broke (Here's the Proof) · November 2, 2026

• Jim Cramer · CNBCBearish

  Despite a credible remodel plan, franchisee complaints make him worried about McDonald's stock.

  Cramer thought management offered a credible plan of store remodels and a renewed focus on value. But he has read many negative comments from franchisees, who are key to the business, and he wonders whether investors are only hearing one side of the story. He says McDonald's needs the program to work.

  “I'm worried about the stock of McDonald's. I thought management offered a credible plan of store remodels and a renewed focus on value. But we have all read the negative comments of its key constituents who are their franchisees.”at 7:04

  Mad Money with Jim Cramer: Mad Money w/ Jim Cramer 10/30/26 · October 31, 2026

• Lindsay Owens · Groundwork CollaborativeBearish

  McDonald's algorithmic pricing tools keep franchisees from competing on price, undermining competition.

  Owens argues that McDonald's is building sophisticated algorithmic pricing tools that ensure even independent franchisees cannot compete against each other, which cuts against the point of franchising. She says McDonald's calls these prices mere recommendations, but franchisees' renewal and expansion decisions reportedly depend on their conformity to the pricing algorithm, so the recommendations are effectively binding. She concludes that even in competitive markets these tools are used to subvert price competition, which she sees as a serious threat to the economy.

  “companies like McDonald's are building sophisticated algorithmic pricing tools to ensure that even franchisees can't compete against each other. The whole point of franchises is that they're independent and should have some level of control over pricing.”at 51:33

  Odd Lots: AI Agents Are Already Changing the Price of Goods · October 26, 2026

• David Bahnsen · The Bahnsen GroupBullish

  McDonald's reinvested dividends have compounded to about a 400,000% return; a top dividend grower.

  Bahnsen cites McDonald's reinvested dividends as having created a roughly 400,000% return. He also notes that in 2008 only Walmart and McDonald's were up among Dow stocks, showing the defensive quality of these dividend growers.

  “And so you look at a company like McDonald's that has literally created with reinvested dividends 400000% return.”at 21:06

  Masters in Business: At The Money: Can Dividend Investing Give You Yield AND Growth? · October 21, 2026