UBS maintains Buy rating for McDonald's stock

Published on 10/20/2026 at 11:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

NEXT targets a low-to-mid 50 percent margin by 2030. McDonald's stock costs EUR 217.50 on October 20, 2026, 0.83 percent above the Xetra close.

Strategy, earnings and valuation

McDonald's announced 250 basis points of restaurant efficiency gains on September 23, 2026.
Second-quarter 2026 revenue reached USD 7.10 billion, up 3.8 percent year over year.
McDonald's stock trades at EUR 217.50 at 11:41 a.m. CEST at Lang & Schwarz on October 20, 2026, 0.83 percent above the Xetra close of October 19, 2026.

Architekturfoto eines modernen Schnellrestaurants mit Glasfront, Drive-Thru-Spur mit Überdachung rechts, Außenterrasse mit Sonnenschirmen links, goldenes Abendlicht, neutrale Farben, kein Branding — McDonald's Restaurantgebäude US5801351017 besticht mit moderner Glasfront, einer Drive-Thru-Spur und gepflegter Außenterrasse, Illustration mit AI erstellt.

McDonald's (ISIN US5801351017) stock was trading at EUR 217.50 at Lang & Schwarz on October 20, 2026 at 11:41 a.m. CEST, up 0.83 percent versus the October 19 Xetra close. MarketScreener reported on October 19 that UBS maintained a Buy rating on McDonald's ahead of quarterly results.

NEXT sets a demanding margin goal

McDonald's strategy update dated September 23, 2026 set a low-to-mid 50 percent operating margin target by 2030 and called for 250 basis points of gross restaurant-level efficiency gains. The company also set a target of 1.5 percentage points of additional chicken share and 1.5 percentage points of additional beverage share by 2030, according to McDonald's.

The plan links restaurant productivity with franchisee support. Its stated efficiency target is designed to improve restaurant economics while the company invests in menu, consumer, restaurant and people initiatives.

What does the margin target mean?

McDonald's latest reported operating picture was less ambitious than the long-term target. In the second quarter of 2026, revenue reached USD 7.10 billion, up 3.8 percent from the second quarter of 2025, while adjusted earnings per share rose to USD 3.32 from USD 3.15, according to Simply Wall St. That combination gives investors a concrete test: future margin gains must increasingly come from productivity and traffic, not only pricing.

Three dates frame the next phase

McDonald's reported second-quarter 2026 revenue of USD 7.10 billion on August 4, 2026. On September 23, 2026, it presented the NEXT plan with a 250 basis points efficiency target. On October 19, 2026, UBS maintained its Buy rating, according to MarketScreener.

The next scheduled reporting date is November 4, 2026, for third-quarter results, according to Gekko. The next dividend ex-date is December 1, 2026, with payment scheduled for December 15, 2026, according to Simply Wall St.

Stock trades above the Xetra close

At Lang & Schwarz, McDonald's stock was trading at EUR 217.50 on October 20, 2026 at 11:41 a.m. CEST, 0.83 percent above the Xetra close of October 19, 2026 at EUR 215.70. The company's primary listing is on the NYSE, where the October 19, 2026 close was USD 242.67.

The further course of trading is shown by the continuously updated real-time quote of McDonald's stock.