Restaurant Brands International Inc.
QSR
Retail-Eating Places
Mkt Cap
$21.11BPE
17.15Debt
$13.02BCash
$1.049BEV
$33.08BFCF
$1.248BP/E Ratio
17.15Debt
$13.02BCash
$1.049BEV
$33.08BFCF
$1.248BCharts data: {"Earnings":[{"time":"2014-12-30","value":-402200000},{"time":"2015-12-30","value":103900000},{"time":"2016-12-30","value":345600000},{"time":"2017-12-30","value":626100000},{"time":"2018-12-30","value":612000000},{"time":"2019-12-30","value":643000000},{"time":"2020-12-30","value":486000000},{"time":"2021-12-30","value":838000000},{"time":"2022-12-30","value":1008000000},{"time":"2023-12-30","value":1190000000}],"Sales":[{"time":"2014-12-30","value":1197300000},{"time":"2015-12-30","value":4052200000},{"time":"2016-12-30","value":4145800000},{"time":"2017-12-30","value":4576100000},{"time":"2018-12-30","value":5357000000},{"time":"2019-12-30","value":5603000000},{"time":"2020-12-30","value":4968000000},{"time":"2021-12-30","value":5739000000},{"time":"2022-12-30","value":6505000000},{"time":"2023-12-30","value":7022000000}],"Net Margins":[{"time":"2014-12-30","value":-0.3359224922742838},{"time":"2015-12-30","value":0.025640392873007255},{"time":"2016-12-30","value":0.08336147426310965},{"time":"2017-12-30","value":0.13681956250956054},{"time":"2018-12-30","value":0.1142430464812395},{"time":"2019-12-30","value":0.11475995002677138},{"time":"2020-12-30","value":0.09782608695652174},{"time":"2021-12-30","value":0.14601847011674507},{"time":"2022-12-30","value":0.1549577248270561},{"time":"2023-12-30","value":0.1694673882084876}],"Assets":[{"time":"2014-12-30","value":21164000000},{"time":"2015-12-30","value":18411100000},{"time":"2016-12-30","value":19124900000},{"time":"2017-12-30","value":21223500000},{"time":"2018-12-30","value":20141000000},{"time":"2019-12-30","value":22360000000},{"time":"2020-12-30","value":22777000000},{"time":"2021-12-30","value":23246000000},{"time":"2022-12-30","value":22746000000},{"time":"2023-12-30","value":23391000000}],"Stockholders Equity":[{"time":"2014-12-30","value":4323200000},{"time":"2015-12-30","value":2912700000},{"time":"2016-12-30","value":3488600000},{"time":"2017-12-30","value":4560600000},{"time":"2018-12-30","value":3618000000},{"time":"2019-12-30","value":4259000000},{"time":"2020-12-30","value":3721000000},{"time":"2021-12-30","value":3853000000},{"time":"2022-12-30","value":4268000000},{"time":"2023-12-30","value":4730000000}],"ROE":[{"time":"2014-12-30","value":-0.09303293856402664},{"time":"2015-12-30","value":0.03567137020633776},{"time":"2016-12-30","value":0.0990655277188557},{"time":"2017-12-30","value":0.13728456782002368},{"time":"2018-12-30","value":0.1691542288557214},{"time":"2019-12-30","value":0.15097440713782578},{"time":"2020-12-30","value":0.1306100510615426},{"time":"2021-12-30","value":0.2174928627043862},{"time":"2022-12-30","value":0.23617619493908154},{"time":"2023-12-30","value":0.25158562367864695}],"ROA":[{"time":"2014-12-30","value":0.008618408618408619},{"time":"2015-12-30","value":0.06475441445649635},{"time":"2016-12-30","value":0.08714816809499658},{"time":"2017-12-30","value":0.08179141046481495},{"time":"2018-12-30","value":0.09517898813365772},{"time":"2019-12-30","value":0.08975849731663685},{"time":"2020-12-30","value":0.062431400096588666},{"time":"2021-12-30","value":0.08083111072872752},{"time":"2022-12-30","value":0.0834432427679592},{"time":"2023-12-30","value":0.08768329699457056}]}
Restaurant Brands International Inc. operates as a quick-service restaurant company in Canada, the United States, and internationally. It operates through four segments: Tim Hortons (TH), Burger King (BK), Popeyes Louisiana Kitchen (PLK), and Firehouse Subs (FHS). The company owns and franchises TH chain of donut/coffee/tea restaurants that offer blend coffee, tea, and espresso-based hot and cold specialty drinks; and fresh baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, and other food products. It is also involved in owning and franchising BK, a fast-food hamburger restaurant chain, which offers flame-grilled hamburgers, chicken and other specialty sandwiches, French fries, soft drinks, and other food items; and PLK quick service restaurants that provide Louisiana-style fried chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other regional items. In addition, the company owns and franchises FHS quick service restaurants that offer meats and cheese, chopped salads, chili and soups, signature and other sides, soft drinks, and local specialties. Restaurant Brands International Inc. was founded in 1954 and is headquartered in Toronto, Canada.
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DCF
Discounted Cash Flow Valuation of Restaurant Brands International Inc.
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $1.248B | $1.303B | $1.36B | $1.42B | $1.482B | $1.547B | $1.615B | $1.686B | $1.76B | $1.838B | $1.918B | $19.18B |
| DCF | $1.133B | $1.028B | $933.5M | $847.4M | $769.3M | $698.3M | $633.9M | $575.4M | $522.3M | $474.2M | $4.742B | |
| Value | $12.36B | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth 21%
Earnings Stability 70%
Competitiveness and MOAT
High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 2.6% | 8.3% | 14% | 11% | 11% | 9.8% | 15% | 15% | 17% | 17% |
| ROA | 6.5% | 8.7% | 8.2% | 9.5% | 9% | 6.2% | 8.1% | 8.3% | 8.8% | 9.3% |
| ROE | 3.6% | 9.9% | 14% | 17% | 15% | 13% | 22% | 24% | 25% | 25% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +13.29%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is +1.27%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +8.32%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is -0.11%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is +19.27%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is +2.16%.
Safety & Stabiliy
Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | 8.06 | 7.10 | 9.00 | 11.24 | 8.54 | 15.85 | 8.16 | 9.48 | 10.93 | 10.43 |
| Debt Equity | 3.01 | 2.51 | 2.65 | 3.35 | 2.84 | 3.42 | 3.43 | 3.09 | 2.78 | 2.69 |
| MIN | ||||||||||
| Graham Stability | - | - | 100% | 100% | 100% | 78% | 100% | 100% | 100% | 78% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is 10.43.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is -0.18.
What is the Graham’s Stability?
Graham’s Stability measure stands at 0.78.
Growth
Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.
| Years | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | 7.8% | 5.6% | 12% | 7.9% | -15% |
| Net Income | 19% | 14% | 35% | 18% | -19% |
| Stockholders Equity | 4.4% | 5.5% | 8.3% | 11% | 1.7% |
| FCF | -0.38% | 2.2% | 14% | -13% | -25% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +5.56%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is -15.12%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is +14.22%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is -19.19%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is +5.51%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is +1.67%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is +2.2%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is -24.71%.