MCD – Market expectations are for record-high Uniform ROA, and management is confident about average check, transformation in their U.S. system, and shareholder returns

• McDonald’s Corporation (MCD:USA) currently trades at historical highs relative to UAFRS-based (Uniform) Earnings, with a 28.4x Uniform P/E, implying bullish expectations for the firm. Moreover, management is confident about average check, transformation in their U.S. system, and shareholder returns
• Specifically, management is confident that they are moving forward with the most significant transformation ever undertaken in their U.S. system, and when talking about the disciplines of their day-to-day operations. Additionally, they are confident that they saw a higher average check in Q3 2018, and that they increased their quarterly dividend to $4.64 annually