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This paper analyses the valuation of McDonald's Corporation (MCD) as of December 31, 2021. An estimate of the Company's intrinsic value will also be provided. In addition, the internal company factors and external market conditions influencing company valuations and share prices will be discussed. The study has two main objectives: Determine the intrinsic value of McDonald's common stock as of December 31, 2021, and compare it to the actual stock market price on the same date. An assessment of the stock’s market price should represent the Company's true value on that day. Research can then verify whether it was overvalued or undervalued on that day. Identify internal company factors and external market environment factors that affect the Company's operations. This information will be used to gain a deeper understanding of the sensitivity analysis results. Possible scenarios will be discussed to reflect how these factors stimulate macroeconomic, industry, and business developments, as well as the strategic responses of industry players or competitors. McDonald's possible strategic responses to these scenarios will also be assessed. In this paper, a combination of qualitative and quantitative research methods will be employed. Data collection and analyses in Chapters 2 to 5 will use a qualitative approach, which includes data related to McDonald's, industry, and economic analyses. Chapters 5 to 8 will apply qualitative and quantitative data collection and analysis methods. Data will be collected from McDonald's annual report for the fiscal year from December 2017 to December 2021