MCD · 10-Q · 2026Q3 · Full report
Capital Expenditure Outlook
MCDONALDS CORP · 2026-11-06 · Importance 58 · Surprise 42 · In source text
McDonald’s expects 2026 capital expenditures of approximately $3.7 billion, with most spending directed to new restaurant expansion in the U.S. and International Operated Markets. The company expects to open approximately 2,500 restaurants globally in 2026 and add approximately 2,100 net restaurants; developmental licensees and affiliates are expected to fund about 1,800 openings. Over the long term, the company expects approximately $3 billion in annual baseline capital expenditures and $1.5 billion to $2 billion of cumulative capital partnering support from 2027 through 2030 to accelerate Restaurant > NEXT deployment. The company also plans approximately $8.5 billion in total cash partnering support through the end of 2036, including approximately $5 billion by the end of 2030.
Key facts
- McDonald’s expects 2026 capital expenditures of about $3.7 billion, with the majority directed to new restaurant expansion across the U.S. and International Operated Markets. source
- McDonald’s expects about $3 billion in annual baseline capital expenditures plus $1.5 billion to $2 billion of cumulative capital partnering support from 2027 through the end of 2030 to accelerate Restaurant > NEXT deployment. source
- McDonald’s expects to open about 2,500 restaurants globally in 2026, including about 700 in the U.S. and International Operated Markets; developmental licensees and affiliates are expected to contribute capital toward approximately 1,800 openings. source
- McDonald’s expects approximately 2,100 net restaurant additions in 2026. source
- McDonald’s is targeting 50,000 global restaurant units by the end of 2028. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | committed | -5.2% | McDonald’s expects 2026 capital expenditures of about $3.7 billion, with the majority directed to new restaurant expansion across the U.S.… |
| assets | positive | committed | +5.2% | McDonald’s expects 2026 capital expenditures of about $3.7 billion, with the majority directed to new restaurant expansion across the U.S.… |
| cash | negative | committed | -4.2% | McDonald’s expects about $3 billion in annual baseline capital expenditures plus $1.5 billion to $2 billion of cumulative capital… |
| assets | positive | committed | +4.2% | McDonald’s expects about $3 billion in annual baseline capital expenditures plus $1.5 billion to $2 billion of cumulative capital… |