Financials Restaurant Brands International Limited Partnership

Equities

QSP.UN

CA76090H1038

Restaurants & Bars

Market Closed - Toronto S.E. 07:38:02 12/04/2024 pm IST 5-day change 1st Jan Change
97.71 CAD -2.41% Intraday chart for Restaurant Brands International Limited Partnership 0.00% -5.41%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 21,482 23,806 21,816 21,050 22,154 26,249
Enterprise Value (EV) 1 32,781 35,811 34,728 34,738 35,417 39,583
P/E ratio 19.2 x 23.1 x 29.7 x 17.1 x 15 x 15.6 x
Yield 3.43% 3.09% 3.41% 3.49% 3.36% 2.81%
Capitalization / Revenue 4.01 x 4.25 x 4.39 x 3.67 x 3.41 x 3.74 x
EV / Revenue 6.12 x 6.39 x 6.99 x 6.05 x 5.44 x 5.64 x
EV / EBITDA 15.4 x 16.2 x 19.5 x 16.5 x 16.2 x 17 x
EV / FCF 38.6 x 29.2 x 51.2 x 25.5 x 28.7 x 35.4 x
FCF Yield 2.59% 3.42% 1.95% 3.92% 3.49% 2.83%
Price to Book 5.94 x 5.59 x 5.86 x 5.47 x 5.19 x 5.55 x
Nbr of stocks (in thousands) 4,09,530 3,67,521 3,57,430 3,47,000 3,45,003 3,35,604
Reference price 2 52.45 64.78 61.03 60.66 64.21 78.22
Announcement Date 22/02/19 21/02/20 23/02/21 23/02/22 22/02/23 22/02/24
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 5,357 5,603 4,968 5,739 6,505 7,022
EBITDA 1 2,127 2,212 1,779 2,107 2,189 2,328
EBIT 1 1,947 2,027 1,590 1,906 1,999 2,137
Operating Margin 36.34% 36.18% 32% 33.21% 30.73% 30.43%
Earnings before Tax (EBT) 1 1,382 1,452 816 1,363 1,365 1,453
Net income 1 1,143 1,109 748 1,249 1,479 1,715
Net margin 21.34% 19.79% 15.06% 21.76% 22.74% 24.42%
EPS 2 2.734 2.801 2.055 3.538 4.275 5.029
Free Cash Flow 1 850.1 1,225 678.6 1,362 1,235 1,119
FCF margin 15.87% 21.86% 13.66% 23.73% 18.98% 15.93%
FCF Conversion (EBITDA) 39.97% 55.37% 38.15% 64.63% 56.41% 48.06%
FCF Conversion (Net income) 74.38% 110.45% 90.73% 109.03% 83.49% 65.24%
Dividend per Share 2 1.800 2.000 2.080 2.120 2.160 2.200
Announcement Date 22/02/19 21/02/20 23/02/21 23/02/22 22/02/23 22/02/24
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 11,299 12,005 12,912 13,688 13,263 13,334
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 5.312 x 5.427 x 7.258 x 6.496 x 6.059 x 5.728 x
Free Cash Flow 1 850 1,225 679 1,362 1,235 1,119
ROE (net income / shareholders' equity) 28% 28.2% 18.8% 33.1% 36.5% 38.2%
ROA (Net income/ Total Assets) 5.88% 5.96% 4.4% 5.18% 5.43% 5.79%
Assets 1 19,427 18,602 16,988 24,127 27,223 29,621
Book Value Per Share 2 8.830 11.60 10.40 11.10 12.40 14.10
Cash Flow per Share 2 2.230 4.170 4.370 3.130 3.410 3.390
Capex 1 86 62 117 106 100 120
Capex / Sales 1.61% 1.11% 2.36% 1.85% 1.54% 1.71%
Announcement Date 22/02/19 21/02/20 23/02/21 23/02/22 22/02/23 22/02/24
1USD in Million2USD
Estimates
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