McDonald's Corp. (MCD) has delivered exceptional stock performance in 2024, rising more than 30% year-to-date as robust same-store sales and international growth drive investor confidence. The stock's momentum reflects sustained operational strength in the consumer staples sector.
- MCD stock rose over 30% in 2024 through November
- Global same-store sales grew 6.2% in Q3 2024
- Adjusted EPS reached $7.89, above $7.60 consensus
- Revenue hit $24.9 billion, up 7.1% YoY
- International markets account for 47% of system sales
- Quarterly dividend has increased for 47 consecutive years
McDonald's Corporation (MCD) has emerged as a standout performer in the consumer staples sector, with its stock climbing over 30% through the end of November 2024. This strong rally follows a series of quarterly results that consistently exceeded analyst expectations, underpinned by resilient demand across key markets. The company reported global same-store sales growth of 6.2% in the third quarter, driven by menu innovation, digital ordering adoption, and increased international performance. The company's fiscal 2024 guidance was raised in October, signaling confidence in its long-term strategy. MCD reported adjusted earnings per share of $7.89 for the year, surpassing the consensus estimate of $7.60. Revenue reached $24.9 billion, up 7.1% year-over-year, with international markets contributing 47% of total system sales. These figures underscore MCD's ability to maintain margin expansion despite macroeconomic headwinds. Investor sentiment has been further bolstered by a share repurchase program that has returned over $12 billion to shareholders since 2022. The stock currently trades at a forward P/E ratio of 29.4, reflecting premium valuation due to its stable cash flows and consistent dividend increases—now 47 consecutive years of growth. The strong performance has drawn attention from institutional investors and ETFs focused on quality growth in consumer staples. Market participants are closely watching MCD's Q4 outlook and expansion plans in emerging markets, particularly in India and Southeast Asia. Its global footprint of over 42,000 restaurants continues to serve as a competitive moat. Analysts project MCD could deliver 6% to 8% earnings growth in 2025, supporting continued investor interest in the stock as a defensive growth play.