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STOCK COMPARISON

Top Standard vs McDonald’s: Fair Value & Quality

Both stocks run through our valuation models. Here is how Top Standard (8510) and McDonald’s (MCD) compare, as of Sep 29, 2026.

As of Sep 29, 2026, Fair Value Calculator sees McDonald’s as the less overvalued of the two: Top Standard trades at HK$0.19 versus a fair value of HK$0.05 (−73.2%), while McDonald’s trades at $234 versus $163 (−30.3%).
Top Standard
8510.HK · HKD · Consumer Discretionary
−73.2%
upside to fair value
overvalued
PriceHK$0.19
Fair ValueHK$0.05
Quality48/100
McDonald’s
MCD · USD · Consumer Discretionary
−30.3%
upside to fair value
overvalued
Price$234
Fair Value$163
Quality69/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Top StandardMcDonald’s
Valuation
n/aP/E (TTM)19.0×
n/aForward P/E (FY2027)16.8×
n/aMedian P/E at FY-end (10 FY, ex one-offs where documented)25.5×
0.32×P/S (TTM)6.02×
Negative equityP/BNegative equity
3.9×EV/EBITDA13.8×
n/aPEG2.06×
−73.2%Fair value upside−30.3%
n/aDividend yield3.1%
n/aDividend per share$7.35
Profitability
7.2%Operating margin46.5%
n/aEBIT margin trend (5Y)1.21×
Negative equityReturn on equityNegative equity
7.5%Return on assets13.3%
Growth
-0.2%Revenue growth (YoY)3.7%
16.5%Avg. growth/yr (3Y)5.1%
-7.6%Avg. growth/yr (5Y)7.0%
n/aValue creation/yr+11.8%
Balance & size
n/aInterest coverage (EBIT/interest)7.8×
Negative equityDebt / equityNegative equity
$6MMarket cap$167B
weakGrowth qualityhealthy
McDonald’s, median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, 5 of the years ex one-offs: 25.5.
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

McDonald’s leads: 3 to 5 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Top Standardof which business quality 48 · market factors 60 McDonald’sof which business quality 64 · market factors 39
ProfitabilityMargins and returns on capital today
45
64
Quality GrowthAre margins and returns improving?
80
46
CashflowEarnings quality: real cash, not paper profit
47
76
Fin. StrengthBalance sheet, leverage, solvency risk
38
53
InvestmentDisciplined investing over empire-building
97
57
Low VolatilityCalm price path (market factor)
41
95
MomentumPrice trend over the last 3–12 months (market factor)
65
22
52W MomentumDistance to the 52-week high (market factor)
74
5
Net IssuanceShare count: buybacks or dilution?
0
88

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyTop StandardPrice HK$0.19McDonald’sPrice $234
DCF Models−68.4%below the priceHK$0.06−41.1%below the price$138
Earnings-Basedn/a−56.1%below the price$103
Dividend Discountn/a−57.7%below the price$98.79
Multiples−84.2%below the priceHK$0.03−3.3%close to the price$226
Growth DCF−57.9%below the priceHK$0.08−67.3%below the price$76.46
Economic Profitn/a−51.3%below the price$114
Growth Earningsn/a−10.1%close to the price$210
Minimum−84.2%below the priceHK$0.03−67.3%below the price$76.46
Maximum−57.9%below the priceHK$0.08−3.3%close to the price$226
Median−68.4%below the priceHK$0.06−51.3%below the price$114
Geometric mean−72.4%below the priceHK$0.05−45.0%below the price$128

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Top Standard: 6 of 6 models see the stock below the current price.

McDonald’s: 19 of 21 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Top Standard
Price HK$0.19
Fair Value HK$0.05
Bear HK$0.04Bull HK$0.08
McDonald’s
Price $234
Fair Value $163
Bear $91.85Bull $252

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Top Standard · Consumer Discretionary

Quality score48 · below median
Fair value upside−73.2% · bottom 25%

McDonald’s · Consumer Discretionary

Quality score69 · Top 25%
Fair value upside−30.3% · below median

Bottom line

As of Sep 29, 2026, Fair Value Calculator sees McDonald’s as the less overvalued of the two: Top Standard trades at HK$0.19 versus a fair value of HK$0.05 (−73.2%), while McDonald’s trades at $234 versus $163 (−30.3%).

McDonald’s has the higher quality score (69/100).

Open McDonald’s live analysis →

More comparisons

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.