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Consumer Cyclical · Restaurants · CA

Restaurant Brands International Inc QSR

C$109.63 · close of Nov 6, 2026
AI score · Average · analysis Mar 16, 2026
5.1 of 10

Moat and Management hold this up; Valuation is the soft spot.

Moat6.0
Management6.0
Valuation3.0
Risk · 10 = lowest5.0
Business model6.0
Optionality4.0
Fair value
AI fair value
C$69.30
as of Nov 10, 2026
Base case
C$55.77
the single most likely path
Analyst consensus
—
12-month target
Price
C$109.63
price 58% above the AI fair value

The price needs 14.0% growth a year for ten years. The AI thinks 7.0% is achievable, at a 18.0% margin.

QSR trades like it needs super-fast growth to justify the price, but really it just needs steady 7% from new markets and apps to deliver solid cash. Strong brand royalties give top-tier profits vs. rivals, with room for better efficiency as they franchise more. Watch debt and competition eating into that edge.

The business

Restaurant Brands International Inc. operates as a quick service restaurant company in Canada, the United States, and internationally. It operates through six segments: Tim Hortons, Burger King, Popeyes Louisiana Kitchen, Firehouse Subs, International, and Restaurant Holdings. The company owns and franchises Tim Hortons, a coffee and baked good restaurant chain that offers beverages, sandwiches, wraps, flatbread pizzas, and others; Burger King, a quick service hamburger restaurant chain that offers flame-grilled hamburgers, chicken, and other sandwiches; Popeyes, a quick service chicken concept that offers a Louisiana style menu, including fried bone-in chicken, chicken sandwiches, chicken tenders, wings, fried shrimp, and regional items; and Firehouse Subs, which offers subs with meats and cheese, as well as chili, soups, soft drinks, and other sides. Restaurant Brands International Inc. was founded in 1954 and is headquartered in Miami, Florida.

Last report Oct 29, 2026 · next Feb 11, 2027

Write why this business works, set your own fair value, and let the briefing speak only when a rule you wrote is crossed.

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General investment analysis · not personalized advice · the figures carry their dates