Is McDonald's Corp. overvalued or undervalued?

As of 21 October 2016, McDonald's Corp. has moved from a very attractive to a risky valuation grade. The company is currently considered overvalued. Key ratios indicate this, with a P/E ratio of 56, an EV to EBITDA of 38.75, and a PEG ratio of 16.25, which are significantly higher than its peers. For instance, Starbucks Corp. has a P/E ratio of 32.27 and an EV to EBITDA of 19.73, while Yum! Brands, Inc. shows a P/E of 27.10 and an EV to EBITDA of 19.07, highlighting McDonald's relative overvaluation.
Additionally, the negative book value reflected in the Price to Book ratio of -144.91 raises concerns about the company's financial health. Despite a strong ROCE of 33.81% and an impressive dividend yield of 101.63%, these metrics do not sufficiently justify the high valuation ratios. Recent stock performance shows McDonald's underperformed against the S&P 500 over the past month, further supporting the view that the stock is overvalued in the current market context.