Will McDonald's Beverage Strategy Reignite Its 2026 U.S. Momentum?

AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA Stocks Will McDonald's Beverage Strategy Reignite Its 2026 U.S. Momentum? December 05, 2025 — 08:36 am EST Written by Amit Kr Ram for Zacks-> McDonald’s Corporation MCD is sharpening its focus on beverages as a potential catalyst for a stronger U.S. performance in 2026. The category presents a compelling opportunity because beverages carry attractive margins, drive incremental traffic and fit naturally into multiple dayparts. With the company looking for new levers to boost U.S. momentum amid a more cautious consumer, this strategic lane is emerging at the right time. The ongoing beverage test is designed not as a branding exercise, but as a structural growth initiative aligned with evolving consumer preferences for cold coffees, refreshers, crafted sodas and functional drink options. In the third quarter of 2025, the company highlighted beverages as a global category exceeding $100 billion and expanding faster than the broader informal eating-out industry. This context underscores why the U.S. test across more than 500 restaurants in Colorado and Wisconsin matters. Early performance is running ahead of expectations, supported by strong customer satisfaction scores, incremental occasions across dayparts and a lift in average check — all indicators that the platform can scale effectively within existing operations. The company noted that learnings from the CosMc’s format helped refine product lineup and complexity, enabling a broader beverage range without straining kitchen efficiency. Although the consumer environment remains pressured, U.S. comparable sales increased 2.4% in the third quarter. With traffic from lower-income customers under strain and inflation, particularly beef inflation, remaining elevated, the U.S. business will require new growth drivers to reaccelerate into 2026. A successfully executed beverage platform offers a pathway to unlock incremental traffic without heavy reliance on pricing actions. The company is also emphasizing disciplined pricing within the beverage test, aiming to differentiate through value relative to competing drink-led concepts while still supporting margins. If these results continue to hold, the beverage initiative could strengthen the company’s growth algorithm by broadening its relevance, deepening digital engagement and supporting higher unit economics. As the U.S. business navigates a complex backdrop, beverages may become a meaningful lever in reigniting momentum heading into 2026.MCD Stock’s Price Performance, Valuation & EstimatesShares of McDonald's have gained 6.4% so far this year against the industry’s decline of 10%. In the same time frame, other industry players like Starbucks Corporation SBUX, Sweetgreen, Inc. SG and Chipotle Mexican Grill, Inc. CMG have lost 6.7%, 78.5% and 43.5%, respectively. MCD YTD Price PerformanceImage Source: Zacks Investment ResearchFrom a valuation standpoint, MCD trades at a forward price-to-sales (P/S) multiple of 7.82, above the industry’s average of 3.27. Conversely, industry players, such as Starbucks, Sweetgreen and Chipotle, have P/S multiples of 2.48, 1.06 and 3.47, respectively.Image Source: Zacks Investment ResearchThe Zacks Consensus Estimate for MCD’s 2026 earnings per share has declined 0.7% in the past 30 days to $13.27.Image Source: Zacks Investment Research The company is likely to report strong earnings, with projections indicating a 9.6% rise in 2026. Conversely, industry players like Sweetgreen and Chipotle are likely to witness an increase of 15.5% and 4.9%, respectively, year over year, in 2026 earnings. Meanwhile, Starbucks' fiscal 2026 earnings are likely to witness a rise of 12.7% year over year.MCD currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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