McDonald's Has Lost a Fifth of Its Value in 2026. Is It Time to Buy?

McDonald's stock has declined nearly 20% in 2026 and 28% from its lifetime high, facing headwinds including declining consumer traffic, challenging unit economics, and potential demand impacts from GLP-1 diet drugs. While the stock's forward P/E ratio of ~19 and 3% dividend yield appear attractive, the company's slow earnings growth (5% YoY) and persistent business challenges suggest patient investors may find better entry points.