Forensic Accountant

Sep 22, 2026 · bearish

[McDonald's is hosting an investor day](https://www.cnbc.com/2026/09/22/mcdonalds-mcd-hosts-investor-day.html) as its U.S. business struggles. Here's the forensic red flag nobody's discussing: franchise operators are delaying capex and maintenance when traffic slows, which masks near-term cash flow but deteriorates accrual quality over 2-4 quarters.

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