With the improvement of society and economy, fast-food chains have become an important part of the catering industry. In addition, McDonald's has a significant market share in the fast-food chain industry. This paper starts with the analysis of the company itself, including operational and investment strategy analysis and financial analysis. The author also conducts the market and competitors’ analysis. According to the price-to-earnings valuation model and enterprise value multiple valuation model, this paper will evaluate McDonald's in combination with its actual situation. Based on the analysis, the author believes that McDonald’s is fairly valued. McDonald's has the high quality of profit. Besides, its dividend proportion is high, and the return is stable. McDonald's can be regarded as a stable and long-term investment project for investors. At the same time, investors need to pay attention to factors such as the epidemic and geopolitics. This paper uses the latest financial data and market data to value McDonald's, and provides effective investment advice to investors based on the global development situation.