McDonald's Shares Plunge on $8.5B Franchisee Support Pledge
McDonald's (NYSE:MCD) shares plummeted 6.1% in afternoon trading on September 23rd, 2026, after the company unveiled its NEXT strategy and pledged $8.5 billion in franchisee support through 2036.
The support includes $5 billion in rent relief and capital assistance to be provided by 2030, aimed at accelerating restaurant modernization, technology, and operations. According to McDonald's, this plan should yield a gross restaurant-level efficiency of 250 basis points, resulting in roughly $100,000 of annual cash flow for the average U.S. restaurant, with a four-year payback for franchisees.
Additionally, the company set targets for 2030: an operating margin in the low-to-mid 50% range, 1.5 percentage points of share gains in both chicken and beverages, and continued leadership in beef.