Loading...

We've got a brand new version of Simply Wall St! Try it out

Restaurant Brands International

NYSE:QSR
Snowflake Description

Second-rate dividend payer with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
QSR
NYSE
$30B
Imp Market Cap
  1. Home
  2. US
  3. Consumer Services
Company description

Restaurant Brands International Inc. owns, operates, and franchises quick service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brand names. The last earnings update was 41 days ago. More info.


Add to Portfolio Compare Print
QSR Share Price and Events
7 Day Returns
0.3%
NYSE:QSR
-0%
US Hospitality
-0.3%
US Market
1 Year Returns
20.5%
NYSE:QSR
13.4%
US Hospitality
18.6%
US Market
QSR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Restaurant Brands International (QSR) 0.3% -1% -12.1% 20.5% 32.6% 86%
US Hospitality -0% 2.9% 4% 13.4% 24.1% 33.1%
US Market -0.3% 2.2% 5.6% 18.6% 36.2% 52.2%
1 Year Return vs Industry and Market
  • QSR outperformed the Hospitality industry which returned 13.4% over the past year.
  • QSR outperformed the Market in United States of America which returned 18.6% over the past year.
Price Volatility
QSR
Industry
5yr Volatility vs Market
Related Companies

QSR Value

 Is Restaurant Brands International undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Restaurant Brands International to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Restaurant Brands International.

NYSE:QSR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 22 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:QSR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.912 (1 + (1- 26.5%) (46.28%))
1.149
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.15
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.149 * 5.44%)
7.99%

Discounted Cash Flow Calculation for NYSE:QSR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Restaurant Brands International is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NYSE:QSR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.99%)
2020 1,627.68 Analyst x6 1,507.27
2021 1,730.80 Analyst x1 1,484.19
2022 1,841.70 Analyst x1 1,462.46
2023 1,924.99 Est @ 4.52% 1,415.52
2024 1,995.99 Est @ 3.69% 1,359.15
2025 2,057.93 Est @ 3.1% 1,297.67
2026 2,113.38 Est @ 2.69% 1,234.05
2027 2,164.27 Est @ 2.41% 1,170.28
2028 2,212.05 Est @ 2.21% 1,107.63
2029 2,257.79 Est @ 2.07% 1,046.89
Present value of next 10 years cash flows $13,085.00
NYSE:QSR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $2,257.79 × (1 + 1.74%) ÷ (7.99% – 1.74%)
$36,761.27
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $36,761.27 ÷ (1 + 7.99%)10
$17,045.53
NYSE:QSR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $13,085.00 + $17,045.53
$30,130.53
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $30,130.53 / 463.63
$64.99
NYSE:QSR Discount to Share Price
Calculation Result
Value per share (USD) From above. $64.99
Current discount Discount to share price of $65.85
= -1 x ($65.85 - $64.99) / $64.99
-1.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Restaurant Brands International is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Restaurant Brands International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Restaurant Brands International's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:QSR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in USD $2.51
NYSE:QSR Share Price ** NYSE (2019-12-06) in USD $65.85
United States of America Hospitality Industry PE Ratio Median Figure of 66 Publicly-Listed Hospitality Companies 22.27x
United States of America Market PE Ratio Median Figure of 2,924 Publicly-Listed Companies 18.48x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Restaurant Brands International.

NYSE:QSR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:QSR Share Price ÷ EPS (both in USD)

= 65.85 ÷ 2.51

26.27x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Restaurant Brands International is overvalued based on earnings compared to the US Hospitality industry average.
  • Restaurant Brands International is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Restaurant Brands International's expected growth come at a high price?
Raw Data
NYSE:QSR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 26.27x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 22 Analysts
10%per year
United States of America Hospitality Industry PEG Ratio Median Figure of 54 Publicly-Listed Hospitality Companies 1.47x
United States of America Market PEG Ratio Median Figure of 2,045 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

NYSE:QSR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 26.27x ÷ 10%

2.63x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Restaurant Brands International is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Restaurant Brands International's assets?
Raw Data
NYSE:QSR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in USD $7.91
NYSE:QSR Share Price * NYSE (2019-12-06) in USD $65.85
United States of America Hospitality Industry PB Ratio Median Figure of 102 Publicly-Listed Hospitality Companies 2.38x
United States of America Market PB Ratio Median Figure of 5,088 Publicly-Listed Companies 1.78x
NYSE:QSR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:QSR Share Price ÷ Book Value per Share (both in USD)

= 65.85 ÷ 7.91

8.32x

* Primary Listing of Restaurant Brands International.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Restaurant Brands International is overvalued based on assets compared to the US Hospitality industry average.
X
Value checks
We assess Restaurant Brands International's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Hospitality industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Hospitality industry average (and greater than 0)? (1 check)
  5. Restaurant Brands International has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

QSR Future Performance

 How is Restaurant Brands International expected to perform in the next 1 to 3 years based on estimates from 22 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Restaurant Brands International expected to grow at an attractive rate?
  • Restaurant Brands International's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Restaurant Brands International's earnings growth is positive but not above the United States of America market average.
  • Restaurant Brands International's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:QSR Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:QSR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 22 Analysts 10%
NYSE:QSR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 22 Analysts 4.4%
United States of America Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 18.8%
United States of America Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 7.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:QSR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 22 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:QSR Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 6,664 1,570 1
2022-12-31 6,419 1,907 1,448 2
2021-12-31 6,115 1,747 1,448 10
2020-12-31 5,868 1,585 1,345 22
2019-12-31 5,590 1,395 1,194 22
2019-12-08
NYSE:QSR Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-30 5,509 1,403 641
2019-06-30 5,426 1,353 574
2019-03-31 5,369 1,430 599
2018-12-31 5,357 1,165 612
2018-09-30 5,206 1,220 844
2018-06-30 5,040 1,188 801
2018-03-31 4,829 991 724
2017-12-31 4,576 1,391 626
2017-09-30 4,453 1,194 350
2017-06-30 4,320 1,254 344
2017-03-31 4,228 1,375 346
2016-12-31 4,146 1,250 346

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Restaurant Brands International's earnings are expected to grow by 10% yearly, however this is not considered high growth (20% yearly).
  • Restaurant Brands International's revenue is expected to grow by 4.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:QSR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 22 Analyst Estimates (S&P Global) See Below

All data from Restaurant Brands International Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:QSR Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 3.34 3.34 3.34 1.00
2022-12-31 3.36 3.63 3.08 2.00
2021-12-31 3.16 3.33 2.85 4.00
2020-12-31 2.89 3.06 2.66 11.00
2019-12-31 2.57 2.73 2.49 8.00
2019-12-08
NYSE:QSR Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-30 2.51
2019-06-30 2.28
2019-03-31 2.39
2018-12-31 2.46
2018-09-30 3.42
2018-06-30 3.29
2018-03-31 3.02
2017-12-31 2.64
2017-09-30 1.49
2017-06-30 1.47
2017-03-31 1.48
2016-12-31 1.48

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Restaurant Brands International is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess Restaurant Brands International's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Restaurant Brands International has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

QSR Past Performance

  How has Restaurant Brands International performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Restaurant Brands International's growth in the last year to its industry (Hospitality).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Restaurant Brands International has delivered over 20% year on year earnings growth in the past 5 years.
  • Restaurant Brands International's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Restaurant Brands International's 1-year earnings growth is negative, it can't be compared to the US Hospitality industry average.
Earnings and Revenue History
Restaurant Brands International's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Restaurant Brands International Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:QSR Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 5,509.00 641.00 1,207.00
2019-06-30 5,426.00 574.00 1,175.00
2019-03-31 5,369.00 599.00 1,172.00
2018-12-31 5,357.00 612.00 1,159.00
2018-09-30 5,206.10 843.90 955.10
2018-06-30 5,039.70 801.30 771.30
2018-03-31 4,829.40 723.80 553.50
2017-12-31 4,576.00 626.00 352.00
2017-09-30 4,453.30 349.50 353.00
2017-06-30 4,320.40 344.40 337.60
2017-03-31 4,227.90 345.80 318.70
2016-12-31 4,146.00 346.00 303.00
2016-09-30 4,091.40 278.90 306.10
2016-06-30 4,035.40 242.10 303.70
2016-03-31 4,037.40 162.20 309.00
2015-12-31 4,052.20 103.90 321.00
2015-09-30 3,413.00 -458.60 310.60
2015-06-30 2,672.20 -531.60 282.80
2015-03-31 1,891.20 -467.50 255.20
2014-12-31 1,198.80 -398.80 220.40
2014-09-30 1,046.20 178.80 194.80
2014-06-30 1,042.40 270.50 202.10
2014-03-31 1,059.50 258.30 206.80
2013-12-31 1,146.30 233.70 216.20
2013-09-30 1,285.60 215.50 232.00
2013-06-30 1,466.20 153.90 247.10
2013-03-31 1,728.70 139.20 263.70
2012-12-31 1,970.90 117.70 290.40

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Restaurant Brands International has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Restaurant Brands International used its assets less efficiently than the US Hospitality industry average last year based on Return on Assets.
  • Restaurant Brands International has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Restaurant Brands International's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Hospitality industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Restaurant Brands International has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

QSR Health

 How is Restaurant Brands International's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Restaurant Brands International's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Restaurant Brands International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Restaurant Brands International's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Restaurant Brands International's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Restaurant Brands International Company Filings, last reported 2 months ago.

NYSE:QSR Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 4,063.00 12,540.00 1,732.00
2019-06-30 3,960.00 11,995.00 1,028.00
2019-03-31 3,773.00 11,933.00 902.00
2018-12-31 3,618.00 11,965.00 913.00
2018-09-30 4,394.40 11,823.80 1,143.50
2018-06-30 4,224.30 11,845.50 987.50
2018-03-31 4,242.40 11,855.60 852.40
2017-12-31 4,561.00 11,900.00 1,097.00
2017-09-30 7,573.20 11,422.10 3,607.10
2017-06-30 7,171.20 11,376.10 3,435.50
2017-03-31 6,894.30 9,679.40 923.90
2016-12-31 6,785.60 8,540.10 1,460.40
2016-09-30 6,816.10 8,603.40 1,274.40
2016-06-30 6,815.40 8,612.20 998.10
2016-03-31 6,635.70 8,596.50 825.90
2015-12-31 6,209.70 8,542.20 757.80
2015-09-30 6,601.80 8,563.10 975.50
2015-06-30 6,841.30 8,681.10 688.90
2015-03-31 6,813.70 9,098.40 1,021.90
2014-12-31 7,636.40 9,961.00 1,803.20
2014-09-30 1,381.10 2,940.60 1,036.50
2014-06-30 1,537.50 2,943.80 904.70
2014-03-31 1,523.80 2,947.30 863.10
2013-12-31 1,516.20 2,951.10 786.90
2013-09-30 1,398.60 2,955.20 764.30
2013-06-30 1,315.60 2,953.30 654.10
2013-03-31 1,193.20 2,951.50 598.80
2012-12-31 1,175.00 2,950.20 546.70
  • Restaurant Brands International's level of debt (308.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (208.2% vs 308.6% today).
  • Debt is not well covered by operating cash flow (11.2%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.7x coverage).
X
Financial health checks
We assess Restaurant Brands International's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Restaurant Brands International has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

QSR Dividends

 What is Restaurant Brands International's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.04%
Current annual income from Restaurant Brands International dividends. Estimated to be 3.26% next year.
If you bought $2,000 of Restaurant Brands International shares you are expected to receive $61 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Restaurant Brands International's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.42%).
  • Restaurant Brands International's dividend is below the markets top 25% of dividend payers in United States of America (3.7%).
Upcoming dividend payment

Purchase Restaurant Brands International before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:QSR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 22 Analyst Estimates (S&P Global) See Below
United States of America Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 44 Stocks 3.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1959 Stocks 2.3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:QSR Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 2.60 1.00
2021-12-31 2.36 7.00
2020-12-31 2.15 14.00
2019-12-31 1.99 14.00
2019-12-08
NYSE:QSR Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-10-28 2.000 3.036
2019-08-02 2.000 2.746
2019-01-23 2.000 3.008
2018-10-24 1.800 3.277
2018-04-24 1.800 3.043
2018-02-23 1.800 3.159
2018-02-12 1.800 3.065
2017-10-26 0.840 1.348
2017-08-02 0.800 1.266
2017-04-26 0.760 1.264
2017-02-17 0.720 1.298
2017-02-13 0.720 1.328
2016-10-24 0.680 1.428
2016-08-04 0.640 1.394
2016-04-29 0.600 1.417
2016-04-28 0.600 1.393
2016-02-26 0.560 1.445
2016-02-16 0.560 1.674
2015-12-30 0.520 1.577
2015-10-30 0.520 1.424
2015-10-27 0.520 1.286
2015-07-27 0.480 1.244
2015-05-05 0.400 1.016
2015-04-27 0.400 0.963
2015-02-17 0.360 0.898

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Restaurant Brands International has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Restaurant Brands International only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Restaurant Brands International's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Restaurant Brands International's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Restaurant Brands International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Restaurant Brands International has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

QSR Management

 What is the CEO of Restaurant Brands International's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jos Cil
COMPENSATION $15,330,257
AGE 49
TENURE AS CEO 0.9 years
CEO Bio

Mr. José E. Cil, also known as Jos, has been the Chief Executive Officer at Restaurant Brands International Inc., a General Partner of Restaurant Brands International Limited Partnership since January 23, 2019. He served as the President of Burger King(R) Brand at Restaurant Brands International Inc., a General Partner of Restaurant Brands International Limited Partnership since December 15, 2014 until January 2019. Mr. Cil served as an Executive Vice President and President of Europe, Middle East & Africa at Burger King Worldwide, Inc. since June 2012 until December 15, 2014. He served as Executive Vice President and President of Europe, Middle East & Africa at Burger King Holdings, Inc. since November 2010 until December 2014. He served as the President of an Operating Unit at Burger King Corporation. He began his career with BKC in 2000, as a Senior Attorney and quickly assumed positions of increasing responsibility within the Global Operations function. From September 2008 to January 2010, he served as Vice President of Company Operations of Burger King and from September 2005 to September 2008, he served as Division Vice President, Mediterranean and NW Europe Divisions, EMEA. He has been with Burger King since 2000. He also served as Vice President and Regional General Manager for Wal-Mart Stores in Florida from February 2010 to November 2010. He has been a Director of Carrols Restaurant Group, Inc. since January 28, 2015.

CEO Compensation
  • Jos's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Jos's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Restaurant Brands International management team in years:

4.9
Average Tenure
43.5
Average Age
  • The tenure for the Restaurant Brands International management team is about average.
Management Team

Jos Cil

TITLE
Chief Executive Officer
COMPENSATION
$15M
AGE
49
TENURE
0.9 yrs

Matt Dunnigan

TITLE
Chief Financial Officer
COMPENSATION
$2M
AGE
35
TENURE
1.9 yrs

Josh Kobza

TITLE
Chief Operating Officer
COMPENSATION
$2M
AGE
32
TENURE
0.9 yrs

Alex Macedo

TITLE
President of Tim Hortons
COMPENSATION
$14M
AGE
41
TENURE
5 yrs

Jacqueline Friesner

TITLE
Controller & Chief Accounting Officer
AGE
46
TENURE
5 yrs

Jill Granat

TITLE
General Counsel & Corporate Secretary
COMPENSATION
$2M
AGE
53
TENURE
5 yrs

Cara Piggot

TITLE
Global Head of Quality Assurance
TENURE
5 yrs

Tammy Martin

TITLE
Head of Marketing - Tim Hortons - Canada

Patrick McGrade

TITLE
Chief Corporate Affairs Officer
TENURE
4.8 yrs

Andrea John

TITLE
Head of Finance - Tim Hortons - Canada
Board of Directors Tenure

Average tenure and age of the Restaurant Brands International board of directors in years:

4.3
Average Tenure
57
Average Age
  • The tenure for the Restaurant Brands International board of directors is about average.
Board of Directors

Alexandre Behring

TITLE
Co-Chairman of the Board
COMPENSATION
$240K
AGE
52
TENURE
0.9 yrs

Daniel Schwartz

TITLE
Co-Chairman
COMPENSATION
$19M
AGE
38
TENURE
0.9 yrs

Marc Caira

TITLE
Vice Chairman of the Board
COMPENSATION
$250K
AGE
65
TENURE
5 yrs

David Clanachan

TITLE
Chairman of RBI Canada
AGE
57
TENURE
3.3 yrs

Ali Hedayat

TITLE
Independent Director
COMPENSATION
$111K
AGE
43
TENURE
3.4 yrs

Carlos da Veiga Sicupira

TITLE
Independent Director
COMPENSATION
$140K
AGE
71
TENURE
5 yrs

Paul Fribourg

TITLE
Independent Director
COMPENSATION
$140K
AGE
65
TENURE
5 yrs

Alexandre Van Damme

TITLE
Independent Director
COMPENSATION
$120K
AGE
57
TENURE
5 yrs

Roberto Moses Motta

TITLE
Independent Director
COMPENSATION
$100K
AGE
61
TENURE
5 yrs

Neil Golden

TITLE
Independent Director
COMPENSATION
$250K
AGE
57
TENURE
3.5 yrs
Who owns this company?
Recent Insider Trading
  • Restaurant Brands International individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
01. Nov 19 Sell Alexandre Macedo Individual 30. Oct 19 30. Oct 19 -166,834 $65.08 $-10,753,133
29. Aug 19 Sell Continental Grain Company Corp. Company 26. Aug 19 27. Aug 19 -384,024 $78.09 $-29,633,277
29. Aug 19 Sell Ali Hedayat Individual 27. Aug 19 27. Aug 19 -15,000 $77.81 $-1,167,150
28. Aug 19 Sell Paul Fribourg Individual 26. Aug 19 27. Aug 19 -488,024 $78.09 $-37,675,597
20. Feb 19 Buy Alexandre Macedo Individual 19. Feb 19 19. Feb 19 45,000 $64.73 $2,912,850
X
Management checks
We assess Restaurant Brands International's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Restaurant Brands International has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

QSR News

Simply Wall St News

Paul Fribourg Is The Independent Director of Restaurant Brands International Inc. (NYSE:QSR) And They Just Sold 80.9% Of Their Shares

Check out our latest analysis for Restaurant Brands International Restaurant Brands International Insider Transactions Over The Last Year In fact, the recent sale by Independent Director Paul Fribourg was not their only sale of Restaurant Brands International shares this year. … It's great to see that Restaurant Brands International insiders own 1.8% of the company, worth about US$660m. … What Might The Insider Transactions At Restaurant Brands International Tell Us?

Simply Wall St -

Restaurant Brands International Inc. (NYSE:QSR): Poised For Long Term Success?

Looking at Restaurant Brands International Inc.'s (NYSE:QSR) earnings update on 30 June 2019, analysts seem highly optimistic, as earnings are expected to increase by more than twofold next year, compared with the past 5-year average growth rate of 48%. … To understand the overall trajectory of QSR's earnings growth over these next fews years, I've fitted a line through these analyst earnings forecast to determine an annual growth rate from the slope. … NYSE:QSR Past and Future Earnings, August 26th 2019 By 2022, QSR's earnings should reach US$1.5b, from current levels of US$612m, resulting in an annual growth rate of 12%.

Simply Wall St -

What To Know Before Buying Restaurant Brands International Inc. (NYSE:QSR) For Its Dividend

(NYSE:QSR) from a dividend investor's perspective. Owning a strong business and reinvesting the dividends is widely seen as an attractive way of growing your wealth. Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. With a 2.7% yield and a four-year payment history, investors probably think Restaurant Brands International looks like a reliable dividend stock. A 2.7% yield is not inspiring, but the longer payment history has some appeal. Some simple analysis can offer a lot of insights when buying a company for its dividend, and we'll go through this below. Explore this interactive chart for our latest analysis on Restaurant Brands International! NYSE:QSR Historical Dividend Yield, August 16th 2019 Payout ratios Dividends are typically paid from company earnings. If a company pays more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. Looking at the data, we can see that 83% of Restaurant Brands International's profits were paid out as dividends in the last 12 months. Paying out a majority of its earnings limits the amount that can be reinvested in the business. This may indicate a commitment to paying a dividend, or a dearth of investment opportunities. We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. Restaurant Brands International paid out 67% of its cash flow as dividends last year, which is within a reasonable range for the average corporation. It's positive to see that Restaurant Brands International's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. Is Restaurant Brands International's Balance Sheet Risky? As Restaurant Brands International has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. … Looking at the data, we can see that Restaurant Brands International has been paying a dividend for the past four years. … Restaurant Brands International has been growing its dividend quite rapidly, which is exciting.

Simply Wall St -

If You Had Bought Restaurant Brands International (NYSE:QSR) Stock Three Years Ago, You Could Pocket A 65% Gain Today

(NYSE:QSR) share price is up 65% in the last three years, clearly besting than the market return of around 33% (not including dividends). … During three years of share price growth, Restaurant Brands International achieved compound earnings per share growth of 27% per year. … As it happens, Restaurant Brands International's TSR for the last 3 years was 76%, which exceeds the share price return mentioned earlier.

Simply Wall St -

At US$71.42, Is It Time To Put Restaurant Brands International Inc. (NYSE:QSR) On Your Watch List?

Since Restaurant Brands International’s share price is quite volatile, this could mean it can sink lower (or rise even further) in the future, giving us another chance to invest. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. … If you are no longer interested in Restaurant Brands International, you can use our free platform to see my list of over 50 other stocks with a high growth potential.

Simply Wall St -

Restaurant Brands International (NYSE:QSR) Takes On Some Risk With Its Use Of Debt

NYSE:QSR Historical Debt, July 2nd 2019 A Look At Restaurant Brands International's Liabilities According to the last reported balance sheet, Restaurant Brands International had liabilities of US$1.35b due within 12 months, and liabilities of US$16.2b due beyond 12 months. … Since Restaurant Brands International does have net debt, we think it is worthwhile for shareholders to keep an eye on the balance sheet, over time. … Our View Restaurant Brands International's struggle handle its debt, based on its EBITDA, had us second guessing its balance sheet strength, but the other data-points we considered were relatively redeeming.

Simply Wall St -

Restaurant Brands International Inc. (NYSE:QSR): Is Growth Priced In?

As the legendary value investor Ben Graham once said, “Price is what you pay, value is what you get.” Restaurant Brands International is trading at price-to-earnings (PE) ratio of 28.02x, which tells us the stock is overvalued based on current earnings compared to the Hospitality industry average of 22.52x , and overvalued compared to the US market average ratio of 17.51x. … But, to properly examine the value of a high-growth stock such as Restaurant Brands International, we must reflect its earnings growth into the valuation. … So, when we include the growth factor in our analysis, Restaurant Brands International appears overvalued , based on its fundamentals.

Simply Wall St -

Is Restaurant Brands International Inc. (NYSE:QSR) A Great Dividend Stock?

Dividend paying stocks like Restaurant Brands International Inc. … Payout ratios Companies (usually) pay dividends out of their earnings. If a company is paying more than it earns, the dividend might have to be cut. So we need to be form a view on if a company's dividend is sustainable, relative to its net profit after tax. Looking at the data, we can see that 77% of Restaurant Brands International's profits were paid out as dividends in the last 12 months. Paying out a majority of its earnings limits the amount that can be reinvested in the business. This may indicate a commitment to paying a dividend, or a dearth of investment opportunities. We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. Restaurant Brands International paid out 54% of its free cash flow last year, which is acceptable, but is starting to limit the amount of earnings that can be reinvested into the business. Is Restaurant Brands International's Balance Sheet Risky? As Restaurant Brands International has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. … Restaurant Brands International's is paying out more than half its income as dividends, but at least the dividend is covered both by reported earnings and cashflow.

Simply Wall St -

Should We Worry About Restaurant Brands International Inc.'s (NYSE:QSR) P/E Ratio?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll look at Restaurant Brands International Inc.'s (NYSE:QSR) P/E ratio and reflect on what it tells us about the company's share price. … How Do I Calculate Restaurant Brands International's Price To Earnings Ratio

Simply Wall St -

Does Restaurant Brands International's (NYSE:QSR) Share Price Gain of 55% Match Its Business Performance?

(NYSE:QSR) shareholders have seen the share price rise 55% over three years, well in excess of the market return (39%, not including dividends). … During three years of share price growth, Restaurant Brands International achieved compound earnings per share growth of 69% per year. … Dive deeper into the earnings by checking this interactive graph of Restaurant Brands International's earnings, revenue and cash flow.

Simply Wall St -

QSR Company Info

Description

Restaurant Brands International Inc. owns, operates, and franchises quick service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brand names. The company operates through three segments: TH, BK, and PLK. Its restaurants offer blend coffee, tea, espresso-based hot and cold specialty drinks, donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, hamburgers, chicken and other specialty sandwiches, french fries, soft drinks, chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other food items. As of December 31, 2018, the company owned or franchised a total of 4,846 TH restaurants, 17,796 BK restaurants, and 3,102 PLK restaurants in approximately 100 countries worldwide and U.S. territories. Restaurant Brands International Inc. was founded in 1954 and is headquartered in Toronto, Canada.

Details
Name: Restaurant Brands International Inc.
QSR
Exchange: NYSE
Founded: 1954
$30,298,158,548
$19,481,764,930
463,629,052
Website: http://www.rbi.com
Address: Restaurant Brands International Inc.
130 King Street West,
Suite 300,
Toronto,
Ontario, M5X 1E1,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE QSR Common Shares New York Stock Exchange US USD 10. Dec 2014
DB 0R6 Common Shares Deutsche Boerse AG DE EUR 10. Dec 2014
LSE 0VFA Common Shares London Stock Exchange GB CAD 10. Dec 2014
TSX QSR Common Shares The Toronto Stock Exchange CA CAD 10. Dec 2014
BMV QSR N Common Shares Bolsa Mexicana de Valores MX MXN 10. Dec 2014
Number of employees
Current staff
Staff numbers
6,000
Restaurant Brands International employees.
Industry
Restaurants
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/08 00:24
End of day share price update: 2019/12/06 00:00
Last estimates confirmation: 2019/11/26
Last earnings filing: 2019/10/28
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.