McDonald's stock is hovering around two-year lows, trading at a forward price-to-earnings multiple of about 20.7 times, the lowest in more than a decade. The shares are down 13.3% in 2026, underperforming the S&P 500's 10.6% advance. Citi analyst Jon Tower said data suggest McDonald's was unable to power through industry challenges in the second quarter, modeling US same-store sales down 2% and reaching a multi-year low in relative performance versus the fast food benchmark. Tower noted that US foot traffic fell 4.6% year over year in the second quarter, with May being the worst month. The company is set to report earnings on August 4, with investors looking for signs of a turnaround.
McDonald’s CorporationUS same-store sales expected down 2%, foot traffic fell 4.6% YoY in Q2
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