Restaurant Brands International Inc. (QSR) Financial Ratios
14 years of historical data (2012–2025) · Consumer Cyclical · Restaurants
EV/EBITDA
↓
17.00
↓-13% vs avg
5yr avg: 19.64
30Y Low16.3·High91.4
P/FCF
↑
17.56
↓-22% vs avg
5yr avg: 22.48
30Y Low16.3·High61.2
P/B Ratio
↓
6.51
-4% vs avg
5yr avg: 6.78
30Y Low1.8·High7.7
ROE
↓
15.5%
↑-30% vs avg
5yr avg: 22.1%
30Y Low4%·High26%
Debt/EBITDA
↑
7.14
+6% vs avg
5yr avg: 6.71
30Y Low4.9·High42.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
QSR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Restaurant Brands International Inc. trades at 31.3x earnings, 39% above its 5-year average of 22.6x, sitting at the 73rd percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 21.2x, the stock trades at a premium of 48%. On a free-cash-flow basis, the stock trades at 17.6x P/FCF, 22% below the 5-year average of 22.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $25.4B | $31.2B | $29.6B | $35.6B | $29.4B | $28.2B | $28.6B | $29.9B | $24.7B | $29.4B | $22.4B |
| Enterprise Value | $41.9B | $47.6B | $44.2B | $49.0B | $42.7B | $41.7B | $41.2B | $41.8B | $36.2B | $40.6B | $29.9B |
| P/E Ratio → | 31.25 | 29.03 | 20.50 | 20.78 | 19.90 | 22.56 | 38.19 | 26.91 | 21.61 | 24.20 | 32.87 |
| P/S Ratio | 2.70 | 3.31 | 3.52 | 5.07 | 4.52 | 4.91 | 5.76 | 5.34 | 4.62 | 6.41 | 5.40 |
| P/B Ratio | 6.51 | 6.04 | 6.11 | 7.53 | 6.89 | 7.31 | 7.69 | 7.02 | 6.84 | 6.44 | 3.30 |
| P/FCF | 17.56 | 21.52 | 22.73 | 29.62 | 21.17 | 17.38 | 35.57 | 21.15 | 22.93 | 21.82 | 18.13 |
| P/OCF | 14.85 | 18.19 | 19.69 | 26.93 | 19.75 | 16.31 | 31.05 | 20.26 | 21.23 | 21.24 | 17.65 |
P/E links to full P/E history page with 30-year chart
QSR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Restaurant Brands International Inc.'s enterprise value stands at 17.0x EBITDA, 13% below its 5-year average of 19.6x. The Consumer Cyclical sector median is 12.2x, placing the stock at a 40% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.05 | 5.26 | 6.98 | 6.57 | 7.26 | 8.29 | 7.47 | 6.75 | 8.88 | 7.22 |
| EV / EBITDA | 17.00 | 19.33 | 16.48 | 21.86 | 20.47 | 20.04 | 25.55 | 19.09 | 17.24 | 21.19 | 16.28 |
| EV / EBIT | 18.71 | 21.64 | 18.42 | 23.93 | 22.77 | 22.61 | 31.49 | 21.19 | 19.00 | 25.30 | 18.34 |
| EV / FCF | — | 32.85 | 33.96 | 40.73 | 30.75 | 25.73 | 51.20 | 29.59 | 33.51 | 30.20 | 24.24 |
QSR Profitability
Margins and return-on-capital ratios measuring operating efficiency
Restaurant Brands International Inc. earns an operating margin of 23.7%, significantly above the Consumer Cyclical sector average of 2.0%. Operating margins have compressed from 29.2% to 23.7% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 15.5% indicates solid capital efficiency, compared to the sector median of 5.3%. ROIC of 8.2% represents adequate returns on invested capital versus a sector median of 5.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 41.1% | 41.1% | 36.0% | 39.9% | 39.9% | 41.4% | 39.7% | 42.7% | 58.2% | 49.1% | 47.4% |
| Operating Margin | 23.7% | 23.7% | 28.8% | 29.2% | 29.2% | 32.7% | 28.6% | 35.8% | 35.8% | 37.9% | 40.2% |
| Net Profit Margin | 8.2% | 8.2% | 12.1% | 16.9% | 15.5% | 14.6% | 9.8% | 11.5% | 11.4% | 14.2% | 14.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.5% | 15.5% | 21.3% | 26.5% | 24.8% | 22.1% | 12.2% | 16.3% | 15.0% | 11.4% | 9.5% |
| ROA | 3.1% | 3.1% | 4.3% | 5.2% | 4.4% | 3.6% | 2.2% | 3.0% | 3.0% | 3.2% | 3.3% |
| ROIC | 8.2% | 8.2% | 9.7% | 8.6% | 8.1% | 8.4% | 6.6% | 9.6% | 9.3% | 8.6% | 8.7% |
| ROCE | 9.9% | 9.9% | 11.1% | 9.8% | 9.0% | 8.8% | 6.8% | 10.2% | 10.0% | 9.3% | 9.5% |
QSR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Restaurant Brands International Inc. carries a Debt/EBITDA ratio of 7.1x, which is highly leveraged (50% above the sector average of 4.8x). Net debt stands at $16.4B ($17.6B total debt minus $1.2B cash). Interest coverage of 4.3x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.41 | 3.41 | 3.29 | 3.07 | 3.40 | 3.79 | 3.80 | 3.16 | 3.41 | 2.71 | 1.33 |
| Debt / EBITDA | 7.14 | 7.14 | 5.95 | 6.47 | 6.94 | 7.03 | 8.77 | 6.14 | 5.88 | 6.46 | 4.89 |
| Net Debt / Equity | — | 3.18 | 3.02 | 2.83 | 3.12 | 3.51 | 3.38 | 2.80 | 3.16 | 2.47 | 1.11 |
| Net Debt / EBITDA | 6.67 | 6.67 | 5.45 | 5.97 | 6.38 | 6.51 | 7.80 | 5.44 | 5.45 | 5.88 | 4.10 |
| Debt / FCF | — | 11.33 | 11.23 | 11.12 | 9.58 | 8.35 | 15.63 | 8.44 | 10.58 | 8.38 | 6.10 |
| Interest Coverage | 4.26 | 4.26 | 2.99 | 2.67 | 3.46 | 4.31 | 2.70 | 3.31 | 3.22 | 3.16 | 3.63 |
QSR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.98x is below 1.0, meaning current liabilities exceed current assets — though the company's $1.2B cash position helps mitigate short-term liquidity concerns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.98 | 0.98 | 0.97 | 1.01 | 0.97 | 0.97 | 1.41 | 1.29 | 1.07 | 1.06 | 1.73 |
| Quick Ratio | 0.91 | 0.91 | 0.91 | 0.94 | 0.91 | 0.92 | 1.35 | 1.24 | 1.01 | 1.01 | 1.67 |
| Cash Ratio | 0.40 | 0.40 | 0.56 | 0.53 | 0.56 | 0.58 | 0.97 | 0.90 | 0.65 | 0.66 | 1.21 |
| Asset Turnover | — | 0.37 | 0.34 | 0.30 | 0.29 | 0.25 | 0.22 | 0.25 | 0.27 | 0.22 | 0.22 |
| Inventory Turnover | 27.11 | 27.11 | 37.90 | 25.42 | 29.38 | 35.05 | 31.20 | 38.23 | 29.87 | 29.85 | 30.38 |
| Days Sales Outstanding | — | 30.72 | 30.31 | 38.93 | 34.45 | 34.79 | 39.38 | 34.33 | 30.80 | 39.00 | 35.52 |
QSR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Restaurant Brands International Inc. returns 3.3% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 142.8%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 3.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.3% | 3.6% | 3.5% | 2.8% | 3.3% | 3.5% | 3.4% | 3.0% | 2.9% | 2.3% | 2.4% |
| Payout Ratio | 142.8% | 142.8% | 100.8% | 83.2% | 96.3% | 116.2% | 197.3% | 140.1% | 119.0% | 102.5% | 87.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.2% | 3.4% | 4.9% | 4.8% | 5.0% | 4.4% | 2.6% | 3.7% | 4.6% | 4.1% | 3.0% |
| FCF Yield | 5.7% | 4.6% | 4.4% | 3.4% | 4.7% | 5.8% | 2.8% | 4.7% | 4.4% | 4.6% | 5.5% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 1.4% | 1.1% | 2.0% | 1.3% | 0.0% | 2.5% | 1.1% | 0.0% |
| Total Shareholder Yield | 3.3% | 3.6% | 3.5% | 4.2% | 4.4% | 5.4% | 4.7% | 3.0% | 5.5% | 3.4% | 2.4% |
| Shares Outstanding | — | $457M | $454M | $456M | $455M | $464M | $468M | $469M | $473M | $477M | $470M |
Peer Comparison
Compare QSR with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 QSRYou | $25B | 31.3 | 17.0 | 17.6 | 41.1% | 23.7% | 15.5% | 8.2% | 7.1 |
 MCD | $198B | 23.3 | 17.3 | 27.5 | 57.4% | 46.1% | — | 18.7% | 3.8 |
 YUM | $42B | 27.3 | 19.5 | 25.6 | 46.2% | 30.8% | — | 48.1% | 4.4 |
 WEN | $1B | 8.0 | 10.2 | 5.3 | 26.9% | 15.3% | 87.6% | 6.3% | 8.2 |
 JACK | $244M | -3.0 | 82.4 | 3.3 | 28.7% | -1.2% | — | -0.6% | 77.6 |
 DENN | $322M | 15.2 | 12.1 | 350.6 | 73.4% | 10.0% | — | 9.7% | 6.8 |
 SBUX | $115B | 61.7 | 26.2 | 47.0 | 24.2% | 9.6% | — | 17.7% | 5.1 |
 DPZ | $11B | 17.8 | 14.6 | 15.6 | 40.0% | 19.3% | — | 73.5% | 5.0 |
 PZZA | $1B | 40.5 | 12.4 | 19.6 | 28.9% | 4.3% | — | 11.7% | 6.0 |
 WING | $4B | 26.1 | 25.3 | 41.7 | 82.6% | 27.6% | — | 46.0% | 6.1 |
 SHAK | $2B | 54.2 | 15.2 | 42.1 | 18.0% | 5.9% | 8.7% | 6.0% | 4.7 |
| Consumer Cyclical Median | — | 21.2 | 12.2 | 15.6 | 36.2% | 2.0% | 5.3% | 5.2% | 4.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 14 years · Updated daily
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QSR — Frequently Asked Questions
Quick answers to the most common questions about buying QSR stock.
What is Restaurant Brands International Inc.'s P/E ratio?
Restaurant Brands International Inc.'s current P/E ratio is 31.3x. The historical average is 30.1x. This places it at the 73th percentile of its historical range.
What is Restaurant Brands International Inc.'s EV/EBITDA?
Restaurant Brands International Inc.'s current EV/EBITDA is 17.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 25.7x.
What is Restaurant Brands International Inc.'s ROE?
Restaurant Brands International Inc.'s return on equity (ROE) is 15.5%. The historical average is 15.1%.
Is QSR stock overvalued?
Based on historical data, Restaurant Brands International Inc. is trading at a P/E of 31.3x. This is at the 73th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Restaurant Brands International Inc.'s dividend yield?
Restaurant Brands International Inc.'s current dividend yield is 3.30% with a payout ratio of 142.8%.
What are Restaurant Brands International Inc.'s profit margins?
Restaurant Brands International Inc. has 41.1% gross margin and 23.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Restaurant Brands International Inc. have?
Restaurant Brands International Inc.'s Debt/EBITDA ratio is 7.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.