I once owned McDonalds stock and it was very profitable. At the time, the company was expanding overseas where the concept of fast food was a novelty and every restaurant was packed to the rafters. Unfortunately, that was about the time when McDonalds' operations in the US started going downhill. Oh, they tried to cater to the healthy eaters, but in the process the Big Mac and other less healthy staples went all to hell. Then of course, they made a push for "diversity" -- hiring more managers and employees of a certain race without regard to competency and willingness to work. Service began to suck.
I sold my McDonalds stock before the company really went downhill -- while McDonalds was still making money overseas. These days, I think the novelty of McDonalds has worn off in other countries, so the foreign markets no longer prop up the company.
I wish McDonalds well and hope it can bounce back. Too bad the company has upper management with no clue as to what customers really want.