# Restaurant Brands International Inc. (QSR.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Consumer Cyclical / Hotels, Restaurants & Leisure. Price C$110.91, market value C$50.8 billion.

## Valuation
- **P/E (trailing): 20.1×** (5-yr avg 30.3×, 3-yr avg 34.5×). Restaurant Brands International Inc. trades at 20.1× trailing earnings, well below its own five-year average of 30.3×: cheap by its own standards. The Consumer Cyclical median in the September 2026 study was 19.5×. Forward P/E is 17.9×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 3.8×**. Each dollar of revenue is priced at 3.8×.
- **Price / book: 7.2×**. The shares trade at 7.2× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 18.1×**. Enterprise value is 18.1× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 4.3%** (5-yr avg 3.7%). Free cash flow equals 4.3% of the market value, in line with its five-year average of 3.7%.
- **Earnings yield: 5.0%**. The inverse of the P/E: 5.0% of the price is earned each year.

## Profitability
- **Gross margin: 37.6%**. Restaurant Brands International Inc. keeps 37.6% of revenue after the direct cost of what it sells.
- **Operating margin: 27.2%**. 27.2% of revenue is left after running the business, an exceptional level.
- **Net margin: 8.2%**. 8.2% of each dollar of sales reaches the bottom line.
- **Return on equity: 21.4%**. 21.4% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 12.6%**. Return on all capital, debt included, is 12.6%.
- **Return on assets: 5.0%**. Each dollar of assets produces 5.0% of profit.

## Growth
- **Revenue growth (1 yr): 12.2%** (3-yr 13.2%/yr, 5-yr 13.7%/yr). Revenue grew 12.2% over the last year, against 13.7% a year compounded over five years.
- **EPS growth (1 yr): -26.1%** (3-yr -10.3%/yr, 5-yr 8.0%/yr). Earnings per share fell 26.1%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 1.4%/yr**. Free cash flow has compounded at 1.4% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 4.32**. Debt is 4.32 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 5.1×**. It would take 5.1 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 6.7×**. Operating profit covers interest 6.7× over, a safe margin.
- **Current ratio: 0.98** (quick 0.91). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 2.38**. A Z-score of 2.38 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.30%** (C$3.66 per share, trailing). Restaurant Brands International Inc. yields 3.30%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 143%** (72% of free cash flow). The dividend exceeds earnings (143% payout), though free cash flow still covers it.
- **Consecutive years of increases: 4**. 4 straight years of increases.
- **Dividend growth (5 yr): 4.4%/yr** (1-yr 7.7%). The dividend has grown 4.4% a year over five years.
- **Shareholder yield: 3.8%**. Dividends plus net buybacks return 3.8% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (4 analysts). 4 analysts cover Restaurant Brands International Inc.; the consensus is buy, with an average price target of C$116.58 (+5% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 34.0%** (YTD 20.6%, 3-mo 10.4%). The shares are up 34.0% over twelve months including dividends.
- **From 52-week high: -1.9%** (30.8% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 60**. An RSI of 60 is neutral.
- **Beta (1 yr): 0.29** (volatility 24%). Beta of 0.29 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=QSR.TO · Page: https://foliofundamentals.com/stocks/qsr.to

Not investment advice.