QSR - Restaurant Brands International Inc.
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$80.80
DETAILS
HIGH:
$86.00
LOW:
$74.00
MEDIAN:
$82.00
CONSENSUS:
$80.80
UPSIDE:
18.25%
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||
| Revenue | 8,406.0 | 7,022.0 | 6,505.0 | 5,739.0 | 4,968.0 | 5,603.0 | 5,357.0 | 4,576.0 | 4,146.0 | 4,052.2 |
| Cost of Revenue | 5,382.0 | 4,220.0 | 3,907.0 | 3,365.0 | 2,995.0 | 3,211.0 | 2,240.0 | 2,328.0 | 2,181.0 | 2,312.7 |
| Gross Profit | 3,024.0 | 2,802.0 | 2,598.0 | 2,374.0 | 1,973.0 | 2,392.0 | 3,117.0 | 2,248.0 | 1,965.0 | 1,739.5 |
| Operating Expenses | ||||||||||
| R&D Expenses | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| SG&A Expenses | 691.0 | 647.0 | 561.0 | 450.0 | 388.0 | 387.0 | 1,139.0 | 329.0 | 281.0 | 304.0 |
| Other Expenses | (86.0) | 104.0 | 139.0 | 45.0 | 163.0 | (2.0) | 61.0 | 184.0 | 17.0 | 243.3 |
| Operating Expenses | 605.0 | 751.0 | 700.0 | 495.0 | 551.0 | 385.0 | 1,200.0 | 513.0 | 298.0 | 547.3 |
| Operating Income | ||||||||||
| Operating Income | 2,419.0 | 2,051.0 | 1,898.0 | 1,879.0 | 1,422.0 | 2,007.0 | 1,917.0 | 1,735.0 | 1,667.0 | 1,192.2 |
| Interest Expense | 804.0 | 766.0 | 542.0 | 428.0 | 484.0 | 596.0 | 591.0 | 507.6 | 449.7 | 470.5 |
| Interest Income | 39.0 | 40.0 | 7.0 | 3.0 | 9.0 | 20.0 | 15.0 | 26.4 | 4.1 | 4.2 |
| Profitability | ||||||||||
| EBITDA | 2,664.0 | 2,239.0 | 2,067.0 | 2,045.0 | 1,496.0 | 2,160.0 | 2,083.0 | 1,788.0 | 1,804.0 | 1,303.5 |
| EBIT | 2,400.0 | 2,048.0 | 1,877.0 | 1,844.0 | 1,307.0 | 1,975.0 | 1,903.0 | 1,606.0 | 1,632.0 | 1,121.5 |
| Income Before Tax | 1,809.0 | 1,453.0 | 1,365.0 | 1,363.0 | 816.0 | 1,452.0 | 1,382.0 | 1,101.0 | 1,200.0 | 673.9 |
| Income Tax Expense | 364.0 | (265.0) | (117.0) | 110.0 | 66.0 | 341.0 | 238.0 | (134.0) | 244.0 | 162.2 |
| Net Income | 1,021.0 | 1,190.0 | 1,008.0 | 838.0 | 486.0 | 643.0 | 612.0 | 648.0 | 616.0 | 375.1 |
| Per Share Data | ||||||||||
| EPS (Basic) | 3.21 | 3.82 | 3.28 | 2.71 | 1.61 | 2.40 | 2.46 | 2.64 | 1.48 | 0.51 |
| EPS (Diluted) | 3.18 | 3.76 | 3.25 | 2.69 | 1.60 | 2.37 | 2.42 | 2.54 | 1.45 | 0.50 |
| Shares Outstanding | 319.0 | 312.0 | 307.0 | 310.0 | 302.0 | 268.0 | 249.0 | 237.0 | 232.9 | 203.5 |
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 1,334.0 | 1,139.0 | 1,178.0 | 1,087.0 | 1,560.0 | 1,533.0 | 913.0 | 1,097.0 | 1,460.4 | 757.8 |
| Short-Term Investments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Net Receivables | 698.0 | 749.0 | 614.0 | 547.0 | 536.0 | 527.0 | 452.0 | 489.0 | 403.5 | 422.0 |
| Inventory | 142.0 | 166.0 | 133.0 | 96.0 | 96.0 | 84.0 | 75.0 | 78.0 | 71.8 | 81.3 |
| Other Current Assets | 108.0 | 119.0 | 123.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 57.7 | 57.5 |
| Total Current Assets | 2,282.0 | 2,173.0 | 2,048.0 | 1,816.0 | 2,264.0 | 2,196.0 | 1,500.0 | 1,750.0 | 2,097.0 | 1,369.5 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 4,088.0 | 3,074.0 | 3,032.0 | 3,165.0 | 3,183.0 | 3,183.0 | 1,996.0 | 2,133.3 | 2,054.7 | 2,150.6 |
| Goodwill | 5,986.0 | 5,775.0 | 5,688.0 | 6,006.0 | 5,739.0 | 5,651.0 | 5,486.0 | 5,782.3 | 4,675.1 | 4,574.4 |
| Intangible Assets | 10,922.0 | 11,107.0 | 10,991.0 | 11,417.0 | 10,701.0 | 10,563.0 | 10,463.0 | 11,062.2 | 9,228.0 | 9,147.8 |
| Long-Term Investments | 390.0 | 360.0 | 607.0 | 324.0 | 271.0 | 0.0 | 0.0 | 0.0 | 0.0 | 139.0 |
| Other Non-Current Assets | 964.0 | 902.0 | 380.0 | 518.0 | 619.0 | 767.0 | 696.0 | 497.0 | 1,070.1 | 1,029.8 |
| Total Non-Current Assets | 22,350.0 | 21,218.0 | 20,698.0 | 21,430.0 | 20,513.0 | 20,164.0 | 18,641.0 | 19,474.0 | 17,027.9 | 17,041.6 |
| Total Assets | 24,632.0 | 23,391.0 | 22,746.0 | 23,246.0 | 22,777.0 | 22,360.0 | 20,141.0 | 21,224.0 | 19,124.9 | 18,411.1 |
| Current Liabilities | ||||||||||
| Account Payables | 765.0 | 790.0 | 758.0 | 614.0 | 464.0 | 644.0 | 513.0 | 496.0 | 369.8 | 361.5 |
| Short-Term Debt | 222.0 | 101.0 | 127.0 | 96.0 | 79.0 | 101.0 | 91.0 | 78.0 | 93.9 | 56.1 |
| Deferred Revenue | 307.0 | 325.0 | 273.0 | 269.0 | 233.0 | 203.0 | 194.0 | 258.0 | 249.1 | 202.0 |
| Other Current Liabilities | 159.0 | 165.0 | 153.0 | 189.0 | 90.0 | 65.0 | 80.0 | 90.0 | 163.9 | 170.1 |
| Total Current Liabilities | 2,364.0 | 2,144.0 | 2,116.0 | 1,878.0 | 1,601.0 | 1,703.0 | 1,408.0 | 1,655.0 | 1,210.7 | 1,121.0 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 13,455.0 | 12,854.0 | 12,839.0 | 12,916.0 | 12,397.0 | 11,759.0 | 11,823.0 | 11,801.0 | 8,410.2 | 8,462.3 |
| Deferred Tax Liabilities | 1,208.0 | 1,296.0 | 1,313.0 | 1,374.0 | 1,425.0 | 1,564.0 | 1,519.0 | 1,508.0 | 1,715.1 | 1,618.8 |
| Other Non-Current Liabilities | 105.0 | 342.0 | 238.0 | 1,189.0 | 1,599.0 | 1,029.0 | 847.0 | 1,166.0 | 482.0 | 420.7 |
| Total Non-Current Liabilities | 17,425.0 | 16,517.0 | 16,362.0 | 17,515.0 | 17,455.0 | 16,398.0 | 15,115.0 | 15,008.0 | 11,128.6 | 11,080.4 |
| Total Liabilities | 19,789.0 | 18,661.0 | 18,478.0 | 19,393.0 | 19,056.0 | 18,101.0 | 16,523.0 | 16,663.0 | 12,339.3 | 12,201.4 |
| Stockholders' Equity | ||||||||||
| Common Stock | 2,357.0 | 1,973.0 | 2,057.0 | 2,156.0 | 2,399.0 | 2,478.0 | 1,737.0 | 2,052.0 | 1,955.1 | 1,824.5 |
| Retained Earnings | 1,860.0 | 1,599.0 | 1,121.0 | 791.0 | 622.0 | 775.0 | 674.0 | 651.0 | 445.7 | 245.8 |
| Accumulated Other Comprehensive Income | (1,107.0) | (706.0) | (679.0) | (710.0) | (854.0) | (763.0) | (800.0) | (476.0) | (698.3) | (733.7) |
| Total Stockholders' Equity | 3,110.0 | 2,866.0 | 2,499.0 | 2,237.0 | 2,167.0 | 2,490.0 | 1,611.0 | 2,226.4 | 4,999.5 | 4,633.6 |
| Total Liabilities & Equity | 24,632.0 | 23,391.0 | 22,746.0 | 23,246.0 | 22,777.0 | 22,360.0 | 20,141.0 | 21,223.5 | 19,124.9 | 18,411.1 |
| Debt Metrics | ||||||||||
| Total Debt | 15,956.0 | 14,515.0 | 14,491.0 | 14,620.0 | 14,123.0 | 13,466.0 | 12,332.0 | 12,375.0 | 8,998.3 | 9,073.3 |
| Net Debt | 14,622.0 | 13,376.0 | 13,313.0 | 13,533.0 | 12,563.0 | 11,933.0 | 11,419.0 | 11,278.0 | 7,537.9 | 8,315.5 |
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 1,021.0 | 1,190.0 | 1,482.0 | 1,253.0 | 750.0 | 1,111.0 | 1,144.0 | 1,235.3 | 955.9 | 511.7 |
| Depreciation & Amortization | 264.0 | 194.5 | 190.0 | 201.0 | 189.0 | 185.0 | 180.0 | 181.1 | 172.1 | 182.0 |
| Stock-Based Compensation | 172.0 | 194.0 | 136.0 | 102.0 | 84.0 | 68.0 | 48.0 | 48.3 | 35.1 | 50.8 |
| Change in Working Capital | (109.0) | (269.0) | (310.0) | 158.0 | (194.0) | 131.0 | (123.0) | 394.0 | 2.4 | 313.4 |
| Other Non-Cash Items | 160.0 | 451.4 | 52.0 | 17.0 | 300.0 | (77.0) | (113.0) | 265.7 | 23.4 | 179.2 |
| Operating Cash Flow | 1,503.0 | 1,323.0 | 1,490.0 | 1,726.0 | 921.0 | 1,476.0 | 1,165.0 | 1,382.0 | 1,269.0 | 1,204.8 |
| Investing Activities | ||||||||||
| Capital Expenditure | (201.0) | (120.0) | (100.0) | (106.0) | (117.0) | (62.0) | (86.0) | (36.7) | (33.7) | (115.3) |
| Acquisitions | (540.0) | 0.0 | (12.0) | (1,004.0) | 0.0 | 0.0 | 8.0 | (1,635.9) | 30.0 | (252.4) |
| Purchases of Investments | 0.0 | 0.0 | (71.0) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Sales/Maturities of Investments | 74.0 | 112.0 | 71.0 | 5.0 | 33.0 | 24.0 | 33.0 | 788.2 | 28.0 | 30.5 |
| Other Investing Activities | 7.0 | 19.0 | 48.0 | 2.0 | 5.0 | 8.0 | 1.0 | 26.6 | 2.6 | 275.7 |
| Investing Cash Flow | (660.0) | 11.0 | (64.0) | (1,103.0) | (79.0) | (30.0) | (44.0) | (857.8) | 26.9 | (61.5) |
| Financing Activities | ||||||||||
| Net Debt Issuance | 260.0 | (37.0) | (92.0) | 446.0 | 527.0 | (16.0) | 1.0 | 3,108.0 | (70.0) | (1,377.8) |
| Stock Repurchased | 0.0 | (500.0) | (326.0) | (551.0) | (380.0) | 0.0 | (621.0) | (330.2) | 0.0 | 0.0 |
| Dividends Paid | (1,029.0) | (990.0) | (971.0) | (974.0) | (1,009.7) | (901.0) | (728.0) | (663.5) | (538.1) | (362.4) |
| Other Financing Activities | 66.0 | 93.0 | 31.0 | (74.0) | (40.3) | (27.0) | 2.0 | (3,078.2) | 3.5 | (380.1) |
| Financing Cash Flow | (625.0) | (1,374.0) | (1,307.0) | (1,093.0) | (821.0) | (842.0) | (1,285.0) | (935.2) | (590.9) | (2,115.2) |
| Cash Position | ||||||||||
| Net Change in Cash | 195.0 | (39.0) | 91.0 | (473.0) | 27.0 | 620.0 | (184.0) | (387.0) | 702.6 | (1,045.4) |
| Cash at Beginning | 1,139.0 | 1,178.0 | 1,087.0 | 1,560.0 | 1,533.0 | 913.0 | 1,097.0 | 1,460.4 | 757.8 | 1,803.2 |
| Cash at End | 1,334.0 | 1,139.0 | 1,178.0 | 1,087.0 | 1,560.0 | 1,533.0 | 913.0 | 1,073.4 | 1,460.4 | 757.8 |
| Free Cash Flow | 1,302.0 | 1,203.0 | 1,390.0 | 1,620.0 | 804.0 | 1,414.0 | 1,079.0 | 1,345.3 | 1,235.3 | 1,089.5 |
| Key Metrics | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 8,406.0 | 7,022.0 | 6,505.0 | 5,739.0 | 4,968.0 | 5,603.0 | 5,357.0 | 4,576.0 | 4,146.0 | 4,052.2 |
| Gross Profit | 3,024.0 | 2,802.0 | 2,598.0 | 2,374.0 | 1,973.0 | 2,392.0 | 3,117.0 | 2,248.0 | 1,965.0 | 1,739.5 |
| Operating Income | 2,419.0 | 2,051.0 | 1,898.0 | 1,879.0 | 1,422.0 | 2,007.0 | 1,917.0 | 1,735.0 | 1,667.0 | 1,192.2 |
| Net Income | 1,021.0 | 1,190.0 | 1,008.0 | 838.0 | 486.0 | 643.0 | 612.0 | 648.0 | 616.0 | 375.1 |
| EPS (Diluted) | 3.18 | 3.76 | 3.25 | 2.69 | 1.60 | 2.37 | 2.42 | 2.54 | 1.45 | 0.50 |
| Balance Sheet | ||||||||||
| Cash & Equivalents | 1,334.0 | 1,139.0 | 1,178.0 | 1,087.0 | 1,560.0 | 1,533.0 | 913.0 | 1,097.0 | 1,460.4 | 757.8 |
| Total Assets | 24,632.0 | 23,391.0 | 22,746.0 | 23,246.0 | 22,777.0 | 22,360.0 | 20,141.0 | 21,224.0 | 19,124.9 | 18,411.1 |
| Total Debt | 15,956.0 | 14,515.0 | 14,491.0 | 14,620.0 | 14,123.0 | 13,466.0 | 12,332.0 | 12,375.0 | 8,998.3 | 9,073.3 |
| Stockholders' Equity | 3,110.0 | 2,866.0 | 2,499.0 | 2,237.0 | 2,167.0 | 2,490.0 | 1,611.0 | 2,226.4 | 4,999.5 | 4,633.6 |
| Cash Flow | ||||||||||
| Operating Cash Flow | 1,503.0 | 1,323.0 | 1,490.0 | 1,726.0 | 921.0 | 1,476.0 | 1,165.0 | 1,382.0 | 1,269.0 | 1,204.8 |
| Capital Expenditure | (201.0) | (120.0) | (100.0) | (106.0) | (117.0) | (62.0) | (86.0) | (36.7) | (33.7) | (115.3) |
| Free Cash Flow | 1,302.0 | 1,203.0 | 1,390.0 | 1,620.0 | 804.0 | 1,414.0 | 1,079.0 | 1,345.3 | 1,235.3 | 1,089.5 |