Restaurant Brands International Inc.

TSX:QSR Stock Report

Market Cap: CA$42.1b

Restaurant Brands International Valuation

Is QSR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of QSR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: QSR (CA$93.69) is trading above our estimate of fair value (CA$85.19)

Significantly Below Fair Value: QSR is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for QSR?

Key metric: As QSR is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for QSR. This is calculated by dividing QSR's market cap by their current earnings.
What is QSR's PE Ratio?
PE Ratio16.6x
EarningsUS$1.27b
Market CapUS$29.26b

Price to Earnings Ratio vs Peers

How does QSR's PE Ratio compare to its peers?

The above table shows the PE ratio for QSR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.5x
QSP.UN Restaurant Brands International Limited Partnership
12.1xn/aCA$32.2b
AW A & W Food Services of Canada
24.9xn/aCA$855.7m
MTY MTY Food Group
11.2xn/aCA$1.1b
PZA Pizza Pizza Royalty
13.8xn/aCA$430.4m
QSR Restaurant Brands International
16.6x9.9%CA$29.3b

Price-To-Earnings vs Peers: QSR is expensive based on its Price-To-Earnings Ratio (16.6x) compared to the peer average (15.5x).

Price to Earnings Ratio vs Industry

How does QSR's PE Ratio compare vs other companies in the North American Hospitality Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
QSR 16.6xIndustry Avg. 22.4xNo. of Companies13PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: QSR is good value based on its Price-To-Earnings Ratio (16.6x) compared to the North American Hospitality industry average (22.4x).

Price to Earnings Ratio vs Fair Ratio

What is QSR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

QSR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.6x
Fair PE Ratio24.7x

Price-To-Earnings vs Fair Ratio: QSR is good value based on its Price-To-Earnings Ratio (16.6x) compared to the estimated Fair Price-To-Earnings Ratio (24.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst QSR forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$93.69
CA$116.41
+24.3%
9.3%CA$146.78CA$102.60n/a29
Dec ’25CA$97.51
CA$114.57
+17.5%
9.3%CA$144.45CA$100.98n/a29
Nov ’25CA$97.68
CA$116.74
+19.5%
9.0%CA$143.14CA$101.45n/a29
Oct ’25CA$97.80
CA$113.50
+16.1%
8.5%CA$129.07CA$99.18n/a29
Sep ’25CA$93.63
CA$114.15
+21.9%
8.3%CA$127.26CA$99.89n/a28
Aug ’25CA$96.70
CA$117.36
+21.4%
9.0%CA$149.38CA$100.97n/a28
Jul ’25CA$96.40
CA$115.78
+20.1%
7.5%CA$127.41CA$98.64n/a29
Jun ’25CA$93.46
CA$116.37
+24.5%
7.5%CA$127.54CA$98.74n/a28
May ’25CA$100.76
CA$117.60
+16.7%
6.6%CA$129.33CA$99.06n/a29
Apr ’25CA$106.49
CA$115.22
+8.2%
6.1%CA$127.25CA$100.18n/a29
Mar ’25CA$105.35
CA$114.35
+8.5%
5.5%CA$126.23CA$100.44n/a29
Feb ’25CA$106.31
CA$112.08
+5.4%
6.8%CA$125.02CA$94.10n/a30
Jan ’25CA$103.53
CA$104.37
+0.8%
7.2%CA$116.60CA$86.12n/a31
Dec ’24CA$98.03
CA$105.63
+7.8%
7.5%CA$118.77CA$87.73CA$97.5131
Nov ’24CA$92.96
CA$109.84
+18.2%
8.4%CA$131.32CA$89.85CA$97.6831
Oct ’24CA$90.45
CA$110.45
+22.1%
6.5%CA$122.24CA$95.08CA$97.8029
Sep ’24CA$95.09
CA$110.07
+15.8%
6.7%CA$122.03CA$94.91CA$93.6329
Aug ’24CA$100.09
CA$104.82
+4.7%
7.5%CA$117.80CA$88.68CA$96.7027
Jul ’24CA$102.71
CA$101.81
-0.9%
7.8%CA$112.11CA$87.05CA$96.4027
Jun ’24CA$101.30
CA$104.54
+3.2%
7.9%CA$115.40CA$89.60CA$93.4626
May ’24CA$95.62
CA$99.49
+4.0%
7.9%CA$118.27CA$88.36CA$100.7627
Apr ’24CA$90.73
CA$96.76
+6.6%
7.4%CA$109.47CA$83.79CA$106.4927
Mar ’24CA$86.85
CA$97.54
+12.3%
7.3%CA$110.53CA$84.60CA$105.3527
Feb ’24CA$89.13
CA$93.01
+4.3%
8.8%CA$111.13CA$80.33CA$106.3126
Jan ’24CA$87.57
CA$92.17
+5.3%
7.3%CA$109.55CA$82.16CA$103.5326
Dec ’23CA$89.07
CA$89.45
+0.4%
8.0%CA$107.46CA$77.91CA$98.0327

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/31 22:57
End of Day Share Price 2024/12/31 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Restaurant Brands International Inc. is covered by 51 analysts. 25 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jim MarroneAccountability Research Corporation
John StaszakArgus Research Company
David TarantinoBaird