Intrinsic value of Restaurant Brands International - QSR

Previous Close

$54.48

  Intrinsic Value

$164.28

stock screener

  Rating & Target

str. buy

+202%

Previous close

$54.48

 
Intrinsic value

$164.28

 
Up/down potential

+202%

 
Rating

str. buy

We calculate the intrinsic value of QSR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 13.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  18.60
  17.24
  16.02
  14.91
  13.92
  13.03
  12.23
  11.50
  10.85
  10.27
  9.74
  9.27
  8.84
  8.46
  8.11
  7.80
  7.52
  7.27
  7.04
  6.84
  6.65
  6.49
  6.34
  6.21
  6.08
  5.98
  5.88
  5.79
  5.71
  5.64
Revenue, $m
  5,427
  6,363
  7,382
  8,483
  9,664
  10,923
  12,259
  13,669
  15,153
  16,709
  18,337
  20,036
  21,808
  23,652
  25,571
  27,565
  29,638
  31,792
  34,031
  36,358
  38,777
  41,292
  43,910
  46,635
  49,472
  52,429
  55,511
  58,726
  62,080
  65,582
Variable operating expenses, $m
  2,959
  3,179
  3,419
  3,677
  3,955
  4,250
  4,564
  4,895
  5,244
  5,609
  4,307
  4,707
  5,123
  5,556
  6,007
  6,475
  6,962
  7,468
  7,994
  8,540
  9,109
  9,700
  10,315
  10,955
  11,621
  12,316
  13,040
  13,795
  14,583
  15,405
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,959
  3,179
  3,419
  3,677
  3,955
  4,250
  4,564
  4,895
  5,244
  5,609
  4,307
  4,707
  5,123
  5,556
  6,007
  6,475
  6,962
  7,468
  7,994
  8,540
  9,109
  9,700
  10,315
  10,955
  11,621
  12,316
  13,040
  13,795
  14,583
  15,405
Operating income, $m
  2,468
  3,184
  3,963
  4,806
  5,709
  6,673
  7,695
  8,774
  9,909
  11,100
  14,030
  15,330
  16,685
  18,096
  19,564
  21,090
  22,676
  24,324
  26,037
  27,817
  29,668
  31,593
  33,595
  35,680
  37,851
  40,113
  42,472
  44,931
  47,497
  50,176
EBITDA, $m
  4,542
  5,325
  6,178
  7,100
  8,088
  9,142
  10,260
  11,440
  12,682
  13,984
  15,347
  16,769
  18,252
  19,795
  21,401
  23,070
  24,805
  26,608
  28,481
  30,429
  32,453
  34,559
  36,750
  39,030
  41,405
  43,880
  46,459
  49,149
  51,957
  54,887
Interest expense (income), $m
  0
  655
  843
  1,052
  1,281
  1,527
  1,791
  2,073
  2,372
  2,687
  3,019
  3,367
  3,732
  4,112
  4,508
  4,921
  5,350
  5,796
  6,260
  6,742
  7,243
  7,764
  8,305
  8,868
  9,454
  10,063
  10,698
  11,360
  12,049
  12,769
  13,519
Earnings before tax, $m
  1,813
  2,341
  2,911
  3,525
  4,183
  4,882
  5,622
  6,402
  7,222
  8,080
  10,662
  11,598
  12,573
  13,588
  14,643
  15,740
  16,880
  18,064
  19,295
  20,574
  21,904
  23,288
  24,728
  26,227
  27,788
  29,415
  31,112
  32,882
  34,729
  36,657
Tax expense, $m
  490
  632
  786
  952
  1,129
  1,318
  1,518
  1,729
  1,950
  2,182
  2,879
  3,131
  3,395
  3,669
  3,954
  4,250
  4,557
  4,877
  5,210
  5,555
  5,914
  6,288
  6,676
  7,081
  7,503
  7,942
  8,400
  8,878
  9,377
  9,897
Net income, $m
  1,324
  1,709
  2,125
  2,573
  3,053
  3,564
  4,104
  4,674
  5,272
  5,899
  7,783
  8,467
  9,178
  9,919
  10,689
  11,490
  12,322
  13,187
  14,085
  15,019
  15,990
  17,000
  18,051
  19,145
  20,285
  21,473
  22,712
  24,004
  25,352
  26,760

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  25,126
  29,458
  34,176
  39,273
  44,741
  50,571
  56,755
  63,284
  70,153
  77,357
  84,893
  92,761
  100,962
  109,501
  118,383
  127,616
  137,213
  147,186
  157,550
  168,322
  179,521
  191,169
  203,287
  215,902
  229,039
  242,728
  256,997
  271,879
  287,408
  303,620
Adjusted assets (=assets-cash), $m
  25,126
  29,458
  34,176
  39,273
  44,741
  50,571
  56,755
  63,284
  70,153
  77,357
  84,893
  92,761
  100,962
  109,501
  118,383
  127,616
  137,213
  147,186
  157,550
  168,322
  179,521
  191,169
  203,287
  215,902
  229,039
  242,728
  256,997
  271,879
  287,408
  303,620
Revenue / Adjusted assets
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
  0.216
Average production assets, $m
  11,696
  13,712
  15,908
  18,281
  20,826
  23,540
  26,418
  29,458
  32,655
  36,008
  39,516
  43,179
  46,996
  50,970
  55,105
  59,403
  63,870
  68,512
  73,336
  78,350
  83,563
  88,985
  94,626
  100,498
  106,613
  112,985
  119,627
  126,554
  133,783
  141,329
Working capital, $m
  -1,096
  -1,285
  -1,491
  -1,714
  -1,952
  -2,207
  -2,476
  -2,761
  -3,061
  -3,375
  -3,704
  -4,047
  -4,405
  -4,778
  -5,165
  -5,568
  -5,987
  -6,422
  -6,874
  -7,344
  -7,833
  -8,341
  -8,870
  -9,420
  -9,993
  -10,591
  -11,213
  -11,863
  -12,540
  -13,248
Total debt, $m
  15,614
  19,491
  23,713
  28,275
  33,169
  38,387
  43,921
  49,765
  55,913
  62,361
  69,105
  76,147
  83,487
  91,129
  99,078
  107,343
  115,932
  124,857
  134,133
  143,774
  153,797
  164,222
  175,068
  186,358
  198,116
  210,367
  223,138
  236,458
  250,356
  264,865
Total liabilities, $m
  22,488
  26,365
  30,587
  35,149
  40,043
  45,261
  50,795
  56,639
  62,787
  69,235
  75,980
  83,021
  90,361
  98,003
  105,952
  114,217
  122,806
  131,732
  141,007
  150,648
  160,671
  171,096
  181,942
  193,232
  204,990
  217,241
  230,012
  243,332
  257,230
  271,739
Total equity, $m
  2,638
  3,093
  3,588
  4,124
  4,698
  5,310
  5,959
  6,645
  7,366
  8,123
  8,914
  9,740
  10,601
  11,498
  12,430
  13,400
  14,407
  15,455
  16,543
  17,674
  18,850
  20,073
  21,345
  22,670
  24,049
  25,486
  26,985
  28,547
  30,178
  31,880
Total liabilities and equity, $m
  25,126
  29,458
  34,175
  39,273
  44,741
  50,571
  56,754
  63,284
  70,153
  77,358
  84,894
  92,761
  100,962
  109,501
  118,382
  127,617
  137,213
  147,187
  157,550
  168,322
  179,521
  191,169
  203,287
  215,902
  229,039
  242,727
  256,997
  271,879
  287,408
  303,619
Debt-to-equity ratio
  5.920
  6.300
  6.610
  6.860
  7.060
  7.230
  7.370
  7.490
  7.590
  7.680
  7.750
  7.820
  7.880
  7.930
  7.970
  8.010
  8.050
  8.080
  8.110
  8.130
  8.160
  8.180
  8.200
  8.220
  8.240
  8.250
  8.270
  8.280
  8.300
  8.310
Adjusted equity ratio
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105
  0.105

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,324
  1,709
  2,125
  2,573
  3,053
  3,564
  4,104
  4,674
  5,272
  5,899
  7,783
  8,467
  9,178
  9,919
  10,689
  11,490
  12,322
  13,187
  14,085
  15,019
  15,990
  17,000
  18,051
  19,145
  20,285
  21,473
  22,712
  24,004
  25,352
  26,760
Depreciation, amort., depletion, $m
  2,074
  2,142
  2,215
  2,294
  2,379
  2,469
  2,565
  2,666
  2,773
  2,885
  1,317
  1,439
  1,567
  1,699
  1,837
  1,980
  2,129
  2,284
  2,445
  2,612
  2,785
  2,966
  3,154
  3,350
  3,554
  3,766
  3,988
  4,218
  4,459
  4,711
Funds from operations, $m
  3,398
  3,850
  4,340
  4,867
  5,432
  6,033
  6,669
  7,340
  8,045
  8,783
  9,101
  9,906
  10,745
  11,618
  12,526
  13,470
  14,451
  15,470
  16,530
  17,631
  18,775
  19,966
  21,205
  22,495
  23,839
  25,239
  26,699
  28,222
  29,811
  31,471
Change in working capital, $m
  -172
  -189
  -206
  -222
  -239
  -254
  -270
  -285
  -300
  -314
  -329
  -343
  -358
  -373
  -388
  -403
  -419
  -435
  -452
  -470
  -489
  -508
  -529
  -550
  -573
  -597
  -623
  -649
  -678
  -707
Cash from operations, $m
  3,570
  4,039
  4,546
  5,090
  5,671
  6,287
  6,939
  7,625
  8,345
  9,098
  9,429
  10,249
  11,103
  11,991
  12,914
  13,873
  14,870
  15,905
  16,982
  18,101
  19,264
  20,474
  21,734
  23,046
  24,412
  25,836
  27,322
  28,871
  30,489
  32,178
Maintenance CAPEX, $m
  -329
  -390
  -457
  -530
  -609
  -694
  -785
  -881
  -982
  -1,088
  -1,200
  -1,317
  -1,439
  -1,567
  -1,699
  -1,837
  -1,980
  -2,129
  -2,284
  -2,445
  -2,612
  -2,785
  -2,966
  -3,154
  -3,350
  -3,554
  -3,766
  -3,988
  -4,218
  -4,459
New CAPEX, $m
  -1,833
  -2,016
  -2,196
  -2,373
  -2,545
  -2,714
  -2,878
  -3,039
  -3,197
  -3,353
  -3,508
  -3,662
  -3,817
  -3,974
  -4,134
  -4,298
  -4,467
  -4,642
  -4,824
  -5,014
  -5,213
  -5,422
  -5,641
  -5,872
  -6,115
  -6,372
  -6,642
  -6,927
  -7,228
  -7,546
Cash from investing activities, $m
  -2,162
  -2,406
  -2,653
  -2,903
  -3,154
  -3,408
  -3,663
  -3,920
  -4,179
  -4,441
  -4,708
  -4,979
  -5,256
  -5,541
  -5,833
  -6,135
  -6,447
  -6,771
  -7,108
  -7,459
  -7,825
  -8,207
  -8,607
  -9,026
  -9,465
  -9,926
  -10,408
  -10,915
  -11,446
  -12,005
Free cash flow, $m
  1,408
  1,633
  1,892
  2,187
  2,516
  2,879
  3,276
  3,705
  4,165
  4,656
  4,721
  5,270
  5,846
  6,450
  7,080
  7,738
  8,423
  9,134
  9,874
  10,642
  11,439
  12,267
  13,127
  14,020
  14,947
  15,911
  16,914
  17,956
  19,042
  20,173
Issuance/(repayment) of debt, $m
  3,491
  3,877
  4,223
  4,562
  4,894
  5,218
  5,534
  5,844
  6,148
  6,448
  6,745
  7,042
  7,340
  7,642
  7,949
  8,264
  8,589
  8,926
  9,276
  9,641
  10,023
  10,425
  10,846
  11,290
  11,758
  12,251
  12,771
  13,320
  13,899
  14,509
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  3,491
  3,877
  4,223
  4,562
  4,894
  5,218
  5,534
  5,844
  6,148
  6,448
  6,745
  7,042
  7,340
  7,642
  7,949
  8,264
  8,589
  8,926
  9,276
  9,641
  10,023
  10,425
  10,846
  11,290
  11,758
  12,251
  12,771
  13,320
  13,899
  14,509
Total cash flow (excl. dividends), $m
  4,899
  5,510
  6,115
  6,749
  7,410
  8,097
  8,810
  9,549
  10,313
  11,103
  11,466
  12,311
  13,186
  14,092
  15,030
  16,002
  17,012
  18,060
  19,149
  20,283
  21,463
  22,692
  23,973
  25,310
  26,705
  28,162
  29,684
  31,276
  32,940
  34,682
Retained Cash Flow (-), $m
  -412
  -455
  -495
  -535
  -574
  -612
  -649
  -686
  -721
  -756
  -791
  -826
  -861
  -897
  -933
  -970
  -1,008
  -1,047
  -1,088
  -1,131
  -1,176
  -1,223
  -1,272
  -1,325
  -1,379
  -1,437
  -1,498
  -1,563
  -1,631
  -1,702
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  4,487
  5,055
  5,620
  6,214
  6,836
  7,485
  8,161
  8,863
  9,592
  10,347
  10,675
  11,485
  12,325
  13,195
  14,097
  15,033
  16,004
  17,013
  18,061
  19,152
  20,287
  21,469
  22,701
  23,985
  25,326
  26,725
  28,186
  29,713
  31,310
  32,980
Discount rate, %
  11.10
  11.66
  12.24
  12.85
  13.49
  14.17
  14.88
  15.62
  16.40
  17.22
  18.08
  18.98
  19.93
  20.93
  21.98
  23.08
  24.23
  25.44
  26.71
  28.05
  29.45
  30.92
  32.47
  34.09
  35.80
  37.59
  39.47
  41.44
  43.51
  45.69
PV of cash for distribution, $m
  4,039
  4,055
  3,975
  3,831
  3,630
  3,380
  3,091
  2,776
  2,445
  2,113
  1,715
  1,426
  1,160
  922
  716
  542
  400
  288
  201
  136
  90
  57
  35
  21
  12
  7
  4
  2
  1
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Restaurant Brands International Inc. is a quick service restaurant (QSR) company. The Company had over 20,000 restaurants in more than 100 countries and the United States territories, as of December 31, 2016. It operates through two segments: Tim Hortons (TH) and Burger King (BK). Tim Hortons restaurants are quick service restaurants with a menu that includes blend coffee, tea, espresso-based hot and cold specialty drinks, baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps and soups, among others. Burger King restaurants are quick service restaurants that feature flame-grilled hamburgers, chicken and other specialty sandwiches, French fries, soft drinks and other food items. The Company operates coffee roasting facilities in Hamilton, Ontario and Rochester, New York. The Company sells its raw materials and supplies, including coffee, sugar, paper goods and other restaurant supplies to Tim Hortons restaurants.

FINANCIAL RATIOS  of  Restaurant Brands International (QSR)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

QSR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the QSR stock intrinsic value calculation we used $4576.1 million for the last fiscal year's total revenue generated by Restaurant Brands International. The default revenue input number comes from 0001 income statement of Restaurant Brands International. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our QSR stock valuation model: a) initial revenue growth rate of 18.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 11.1%, whose default value for QSR is calculated based on our internal credit rating of Restaurant Brands International, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Restaurant Brands International.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of QSR stock the variable cost ratio is equal to 60.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for QSR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Restaurant Brands International.

Corporate tax rate of 27% is the nominal tax rate for Restaurant Brands International. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the QSR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for QSR are equal to 215.5%.

Life of production assets of 96.9 years is the average useful life of capital assets used in Restaurant Brands International operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for QSR is equal to -20.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2226.4 million for Restaurant Brands International - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 250.013 million for Restaurant Brands International is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Restaurant Brands International at the current share price and the inputted number of shares is $13.6 billion.

RELATED COMPANIES Price Int.Val. Rating
WEN Wendy's Co 17.49 40.02  str.buy
DNKN Dunkin' Br 71.50 26.50  str.sell

COMPANY NEWS

▶ It's National Fast Food Day -- Here's Where to Find Deals   [Nov-16-18 01:15PM  TheStreet.com]
▶ Bill Ackman Comments on Restaurant Brands International   [Nov-15-18 04:28PM  GuruFocus.com]
▶ 4 Stocks Warren Buffett and Insiders Are Piling On   [Nov-12-18 09:29PM  Insider Monkey]
▶ Investors Should Stop Feasting on McDonalds Stock   [Nov-09-18 12:16PM  InvestorPlace]
▶ Papa John's reports tumbling sales   [Nov-06-18 04:25PM  Yahoo Finance]
▶ Shake Shack sales unexpectedly fall   [Nov-01-18 04:20PM  Yahoo Finance]
▶ Its Hard to Go Wrong With McDonalds Stock   [10:12AM  InvestorPlace]
▶ Melvin Capital Managements Returns, AUM, and Holdings   [Oct-31-18 04:08PM  Insider Monkey]
▶ Post Malone spent $40,000 on Postmates last year   [Oct-26-18 05:34PM  Yahoo Finance Video]
▶ Company News For Oct 25, 2018   [09:46AM  Zacks]
▶ Burger King and Tim Hortons sales disappoint   [10:45AM  Yahoo Finance]
▶ Restaurant Brands: 3Q Earnings Snapshot   [06:55AM  Associated Press]
▶ McDonald's Stock Breaks Out Past Buy Point After Earnings Beat   [Oct-23-18 04:19PM  Investor's Business Daily]
▶ 3 Top Restaurant Stocks to Watch in October   [Oct-19-18 11:48AM  Motley Fool]
▶ New report gives favorite burger chains 'F' rating   [Oct-18-18 06:06PM  Yahoo Finance Video]
▶ Should You Get into the Sizzling McDonalds Stock?   [Oct-11-18 10:10AM  InvestorPlace]
▶ Investors Should Buy PZZA While Its on Sale   [06:30AM  InvestorPlace]
▶ Burger King CEO: We will be 'much bigger'   [01:39PM  Yahoo Finance]
▶ Who To Choose In Fast Food? KeyBanc Sizes Them Up   [Oct-04-18 03:07PM  Benzinga]
▶ Expect More Acquisition Deals to Take Out Restaurant Chains   [Sep-26-18 10:00AM  TheStreet.com]
▶ 3 Legal Highs for Your Portfolio   [Sep-20-18 03:13PM  InvestorPlace]
▶ Bears Could Get Scalded as Dunkin Stock Brews up More Gains   [Sep-10-18 10:46AM  InvestorPlace]
▶ Popeyes® Brand to Launch in the Philippines   [Aug-17-18 11:30AM  Business Wire]
▶ Coca-Cola's 90s binge continues, blending Surge with Burger King   [Aug-08-18 11:22AM  American City Business Journals]
▶ Popeyes to move headquarters out of Atlanta   [Aug-03-18 12:05PM  American City Business Journals]
▶ Popeyes to move headquarters to Miami from Atlanta   [11:47AM  American City Business Journals]
▶ 3 Restaurant Stocks to Sink Your Teeth Into   [Aug-01-18 04:34PM  TheStreet.com]
▶ Restaurant Brands: 2Q Earnings Snapshot   [07:10AM  Associated Press]
▶ 3 Income Stocks That Could Double Their Dividend   [Jul-24-18 06:34AM  Motley Fool]
▶ Restaurant Brands International Brings Tim Hortons to China   [Jul-18-18 10:48PM  InvestorPlace]
▶ Cowen Turns Bullish On Tim Hortons' Parent Company   [Jul-17-18 11:43AM  Benzinga]
▶ [$$] Tim Hortons Tests Chinas Appetite for Canadian Coffee   [Jul-11-18 08:35PM  The Wall Street Journal]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.