A Look Back and Ahead at McDonald's Stock
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By Lawrence Rothman, CFA – Dec 18, 2025 at 4:25AM ESTKey PointsMcDonald's has some positive sales momentum.Can the company drive higher traffic via its focus on lower-priced menu items?These 10 Stocks Could Mint the Next Wave of Millionaires ›NYSE: MCDMcDonald'sMarket Cap$227BToday's Changeangle-down(1.33%) $4.19Current Price$318.69Price as of December 17, 2025 at 4:00 PM ETWhat are the key issues facing McDonald's in 2026?The stock market has been volatile this year, including a swoon in March and April after the Trump administration announced tariffs. However, equities have bounced back, with the S&P 500 (^GSPC 1.16%) up 16.1% through Dec. 12. Turning to individual stocks, it's a good time to review how they've done and what to look for in 2026. Turning to ubiquitous fast-food chain McDonald's (MCD +1.33%), it has been an eventful year. It's time to take a look back at how McDonald's did in 2025 and examine the key issues the company's likely to face next year. Image source: Getty Images. A look back McDonald's stock price gained 9.3%. When including dividends, the shares produced a total return of 11.1%. That lagged the S&P 500's 17.5%, however. ExpandNYSE: MCDMcDonald'sToday's Change(1.33%) $4.19Current Price$318.69Key Data PointsMarket Cap$227BDay's Range$315.00 - $319.2052wk Range$276.53 - $326.32Volume701Avg Vol3.2MGross Margin57.25%Dividend Yield2.25% But the company built some sales growth momentum last year. Management and its restaurants had previously gotten away from the company's traditional value pricing that drew customers, which turned off customers and produced a sustained period of sluggish same-store sales (comps).Advertisement In response, management made changes to the menu to place more focus on value pricing. It will also implement changes starting next year that involve working with franchisees and assessing how well they conform to offering lower-priced items. Changes implemented so far appear to have positively impacted sales. McDonald's comps grew 3.6%, and the company had positive comps in the U.S. and internationally. Key issues in 2026 Investors should watch some things next year to see if McDonald's can keep the sales momentum going. First, the broad economy showed signs of weakening. Unemployment ticked up, and inflation remained stubbornly high. Investors should keep an eye on both the U.S. and international economies for signs of weakening, paying particular attention to those two key figures. Any weakness could cause customers to pull back on spending at McDonald's. Turning to company specifics, McDonald's has seen an influx of higher-income people eating at the chain, while experiencing decreased traffic among those with lower incomes. Can management's focus on a lower-priced menu get this core demographic to eat out more at McDonald's restaurants? Another major issue will be the customer's reception to management's focus on low menu prices. In connection with this, management will have discussions with franchisees. This is key, since about 95% of its roughly 44,600 locations operate under a franchise agreement. To measure progress, you can check McDonald's comps. Stronger comps, particularly if they're driven by higher traffic, represent a positive sign. Conversely, weak comps and lower traffic might indicate customers don't find value, although there could be other factors.About the AuthorLawrence Rothman, CFA, has been a contributing Motley Fool stock market analyst since 2019, covering consumer goods and retail stocks. Previously, Lawrence worked on Wall Street and at independent research firms before devoting his attention to finding successful long-term investments for individual investors.TMFLarryrothmanRead NextDec 17, 2025 •By Parkev Tatevosian, CFAIs McDonald's an Undervalued Dividend Stock to Buy for 2026?Dec 6, 2025 •By James BrumleyHow Good Has MCD Stock Actually Been?Nov 13, 2025 •By Matthew NestoThe Best Restaurant Stock to Hold in Uncertain TimesNov 11, 2025 •By Will HealyWhy McDonald's Stock Can Still Prosper Even With Lower-Income Diners Spending LessOct 30, 2025 •By Daniel FoelberPrediction: This Blue Chip Dow Jones Stock Will Become a Dividend King in 2026Oct 24, 2025 •By William DahlMcDonald's Could Reach a Milestone Next Year That Barely 1 in 1,000 Companies Achieve: Are Shares a Buy?