QSR
Restaurant Brands International Inc.
$74.34
-0.63% 2026-10-19
Consumer Cyclical
QSRSPY
1W
+4.5%
1M
+2.0%
3M
+1.4%
6M
-4.1%
YTD
+11.9%
1Y
+14.3%
Grades vs sector
Momentumno data–
Momentum
no data
Percentile within its GICS sector across the S&P 1500.
Growthno data–
Growth
no data
Percentile within its GICS sector across the S&P 1500.
Valueno data–
Value
no data
Percentile within its GICS sector across the S&P 1500.
Profitabilityno data–
Profitability
no data
Percentile within its GICS sector across the S&P 1500.
Revisionsno data–
Revisions
no data
30-day change in analysts' current-year EPS estimate; graded across covered stocks.
Our models
Not held by any of our 3 live models right now.
Momentum Top 15
not ranked (outside this model's universe or screens)
Quality Growthnot ranked (outside this model's universe or screens)
Momentum Blendnot in the current book
Key stats
Market cap$34.1B
P/E (trailing)18.7
P/E (forward)16.8
52-week range64.52 – 81.96
Revenue growth (YoY, latest qtr)+4.6%
Dividend yield3.48%
Analyst consensusBuy (24)
Mean price target$86.00 (+16%)
Valuation & fundamentals
Bottom line
Leans undervalued
Model read-out from the numbers below, not advice. Score +1 (DCF counts double).
▲DCF (base case)above the price by 24%
▼Piotroski F-score2/9
•Altman Z1.9 (grey)
▼Net debt / EBITDA4.2x
▲Analyst target+16% (24 analysts)
Discounted cash flow
Bear
$41
-45%
growth 4% · disc. 8.0% · term. 2.0%
Base
$92
+24%
growth 9% · disc. 7.0% · term. 2.5%
Bull
$183
+147%
growth 12% · disc. 6.0% · term. 3.0%
A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.
Reverse DCFfor context, not a signal
A normal DCF guesses future cash flows and works out a price. A reverse DCF runs it backwards: it starts from today's price and asks how fast free cash flow would have to grow to justify it. It tells you what the market is assuming, not whether the stock is cheap or expensive, and it is not a buy or sell signal. Glossary
Today's price assumes free cash flow grows about 5% a year for 10 years.
Implied
+5%/yr
FCF, last 3 yrs
+1%/yr
FCF, last 5 yrs
+13%/yr
Revenue, last 3 yrs
+13%/yr
Revenue, last 5 yrs
+14%/yr
Same inputs as the DCF above: trailing free cash flow 1.6B, 7.0% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–
Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.54 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.
Multiples vs sector
Forward EPS $4.43 vs trailing $3.98 (+11% expected growth). Forward P/E uses analysts' next-12-month estimate.
Backlog (remaining performance obligations)
RPO
$496.0M
as of 2026-06-30
vs a year ago
-4%
YoY
× TTM revenue
0.05×
coverage
Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).
Quality & financial health
Gross margin
8.5%
Operating margin
26.9%
FCF margin
16.8%
Net margin
1.6%
Return on equity
4.1%
Return on invested capital
14.1%
Net debt / EBITDA
4.2×
Current ratio
1.0×
Interest cover
–
Cash conversion (OCF/NI)
12.1×
Piotroski F-score 2/9 · last two fiscal years
✓ Positive net income✗ Positive operating cash flow✗ Return on assets improved✗ Cash flow above net income✓ Long-term debt / assets fell✗ Current ratio improved✗ No share dilution✗ Gross margin improved✗ Asset turnover improved
Altman Z-score 1.9 (grey zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.
Analysts
Mean target
$86
+16%
Analysts
24
Buy
Range
$78–$104
low – high
● price · ◆ mean target
Annual history
| FY | Revenue | Net income | Free cash flow |
|---|---|---|---|
| 2025 | $9.4B | – | $1.4B |
| 2024 | $8.4B | – | $1.3B |
| 2023 | $7.0B | – | $1.2B |
| 2022 | $6.5B | – | $1.4B |
| 2021 | $5.7B | – | $1.6B |
| 2020 | $5.0B | – | $804.0M |
From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +13.2%.
Earnings
Next report: 2026-10-29 · before open · EPS est 1.53
EstimateActual (beat)Actual (miss)
| Report | EPS est | Actual | Surprise |
|---|---|---|---|
| 2026-08-06 | 1.04 | 1.07 | +3.2% |
| 2026-05-06 | 0.83 | 0.86 | +4.0% |
| 2026-02-12 | 0.95 | 0.96 | +1.3% |
| 2025-10-30 | 1.00 | 1.03 | +2.9% |
| 2025-08-07 | 0.97 | 0.94 | -2.9% |
| 2025-05-08 | 0.78 | 0.75 | -4.1% |
| 2025-02-12 | 0.79 | 0.81 | +2.3% |
| 2024-11-05 | 0.95 | 0.93 | -2.4% |
Quarterly revenue
| Quarter | Revenue | YoY |
|---|---|---|
| 2026-06-30 | $2.5B | +4.6% |
| 2026-03-31 | $2.3B | – |
| 2025-12-31 | $2.5B | – |
| 2025-09-30 | $2.4B | – |
| 2025-06-30 | $2.4B | – |
Analyst actions
Morgan Stanley
PT $82
2026-10-15 · main
Equal-Weight → Equal-WeightPT $82
TD Cowen
PT $78
2026-10-07 · main
Hold → HoldPT $78
JP Morgan
PT $78
2026-09-29 · main
Overweight → OverweightPT $78
Argus Research
2026-09-25 · down
Buy → HoldGuggenheim
PT $86
2026-09-18 · main
Buy → BuyPT $86
Seaport Global
PT $88
2026-09-16 · init
→ BuyPT $88
Recent dividends
2026-09-18: $0.650 · 2026-06-23: $0.650 · 2026-03-19: $0.650 · 2025-12-23: $0.620 · 2025-09-23: $0.620 · 2025-06-24: $0.620 · 2025-03-21: $0.620 · 2024-12-20: $0.580
Insider trades
Schwan Axel
$4.7M
Pres., Tim Hortons US & Canada · 2026-09-04
SELL$4.7M
Curtis Thomas Benjamin
$5.2M
Pres., BK US & CA · 2026-08-21
SELL$5.2M
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News
Restaurant Brands (TSX:QSP.UN) Stock Looks Undervalued On Future Cash Flow
Simply Wall St. · Oct 17
What Are Starbucks Stock Bulls Not Worried About?
Trefis · Oct 16
Domino's Pizza Stock Is Waiting On One Answer
Trefis · Oct 16
The 2026 QSR Mobile Ordering Study: The digital arms race is over
Nation's Restaurant News · Oct 16
Happy Belly Food Group's Heal Wellness QSR Announces the Grand Opening of Its 54th Location in Calgary's Crowfoot Village
TMX Newsfile · Oct 16
Recipe Unlimited Accelerates Global Growth with Agreement to Acquire Greece-Based QSR Market Leader Evergood
CNW Group · Oct 15
Yum! Brands, McDonald's Face Challenging Q3 Outlook, Morgan Stanley Says
MT Newswires · Oct 15
Morgan Stanley Adjusts Restaurant Brands International PT to $82 From $79, Maintains Equal Weight Rating
MT Newswires · Oct 15
Stats refreshed 2026-10-19 19:01:44 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now
coteau
Coteau Systematic StrategiesSystematic equity research and model portfolios.Coteau Systematic Strategies publishes research, model portfolios and tools. It does not manage money or offer investment advice. Model results are hypothetical. Data: Yahoo Finance (delayed), SEC EDGAR.