McDonald's (MCD) — McDonald's Priced for 9.5% Growth Forever. Comps Grew 1.5%

Deep value research on McDonald's (MCD) as of 2026-11-04: 9.5% Implied perpetual. McDonald's owns the land under its restaurants, yet U.S. traffic is softening while its price implies 9.5% growth forever. We trace owner earnings to show why that gap leaves little margin of safety.

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Chapters

(0:00) McDonald's Q3 2026 Earnings Review

(1:01) Footnote Ledger

(2:40) Capital Allocation

(6:19) Bridge to Owner Earnings

(7:37) Capital Allocation

(9:22) Return on Capital

(10:43) Non-GAAP Add-Backs

(12:46) Balance Sheet Reality Check

(14:34) Return on Capital

(15:56) Moat Assessment

(17:16) McDonald's Q3 2026 Earnings Review

(19:38) Resources for Investors

(19:56) Get the apps

Full open-source research report: https://research.deepvalues.ai/insights/2026-11-04-mcdonalds-q3-2026-earnings-financial-research/?utm_source=spotify&utm_medium=description&utm_campaign=company&utm_content=mcd

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