McDonald’s sets NEXT targets: 1.5-point chicken and beverage share gains by 2030

McDonald’s Corporation (NYSE: MCD) laid out new growth and productivity targets under its McDonald’s > NEXT strategy in an investor release furnished with a Form 8-K on Sept. 23.

The company said it is targeting 1.5 percentage points of market-share gains in both the chicken and beverage categories by 2030 while maintaining its leadership position in beef. It also said it aims to expand operating margin to the low-to-mid 50% range by 2030 and deliver about 250 basis points of gross restaurant-level efficiency gains as NEXT elements are deployed across the U.S. and International Operated Markets.

McDonald’s framed NEXT around four pillars—Menu, Consumer, Restaurant, and People—and said the effort builds on capabilities from Accelerating the Arches. Supporting the push is Make It Golden, a multi-year Systemwide commitment to elevate food and hospitality, beginning on Founder’s Day, Oct. 5.

To accelerate restaurant modernization and technology deployment, McDonald’s plans about $8.5 billion in total NEXT partnering support through 2036, including about $5 billion through 2030, via rent relief and capital support. The company said the 250-basis-point efficiency target equates to roughly $100,000 in annual cash-flow benefits for the average U.S. restaurant, with an estimated four-year payback for franchisees after partnering.

Other 2030 targets in the release include G&A of about 1.9% of Systemwide sales and free-cash-flow conversion in the mid-to-high 80% range. Unit expansion is expected to contribute nearly 2.5% to Systemwide sales growth in 2027, moderating to about 2% by 2030. From 2027 through 2030, baseline capital expenditures are pegged at about $3 billion annually, plus $1.5 billion to $2 billion of cumulative capital partnering support, based on today’s foreign-exchange rates.

By the numbers

• Category share targets by 2030: +1.5 pp chicken; +1.5 pp beverage
• Operating margin target by 2030: low-to-mid 50%
• Restaurant efficiency: about 250 bps gross gains
• Partnering support: ~$8.5 billion through 2036 (~$5 billion through 2030)

Sources

1. McDonald’s Corporation Form 8-K, filed Sept. 23, 2026, accession 0000063908-26-000076
2. McDonald’s Corporation Form 8-K Exhibit 99.1 investor release, Sept. 23, 2026

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