MCD · 10-Q · 2026Q2 · Full report
Capital Expenditure Outlook
MCDONALDS CORP · 2026-08-07 · Importance 75 · Surprise 60 · No source text
McDonald’s expects 2026 capital expenditures of $3.7 billion to $3.9 billion, with most spending directed to new restaurant expansion in the U.S. and International Operated Markets. The Company expects approximately 2,600 restaurants to open globally in 2026, including about 750 in the U.S. and International Operated Markets and more than 1,800 funded by developmental licensees and affiliates. It expects approximately 2,100 net restaurant additions in 2026, targeting 50,000 global units in 2028, and forecasts free cash flow conversion in the low-to-mid 80% range.
Key facts
- The Company expects 2026 capital expenditures to be between $3.7 and $3.9 billion, with the majority directed towards new restaurant unit expansion across the U.S. and International Operated Markets. source
- Cash used for investing activities totaled $1.6 billion for the six months ended June 30, 2026 and was flat compared to the six months ended June 30, 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | committed | -5.4% | The Company expects 2026 capital expenditures to be between $3.7 and $3.9 billion, with the majority directed towards new restaurant unit… |
| assets | positive | committed | +5.4% | The Company expects 2026 capital expenditures to be between $3.7 and $3.9 billion, with the majority directed towards new restaurant unit… |
| cash | unclear | realized | 0.0% | Cash used for investing activities totaled $1.6 billion for the six months ended June 30, 2026 and was flat compared to the six months… |