NYSE
According to Zyberno, RESTAURANT BRANDS INTERNATIONAL INC. (QSR) is not a buy — AVERAGE BUSINESS (53/100) with a negative Margin of Safety of -52.8% and a Brina Gap of -7.3% showing the market already prices in more growth than the fundamentals support.
According to Zyberno's DCF model, RESTAURANT BRANDS INTERNATIONAL INC. (QSR) trades at $78.07 against an estimated intrinsic value per share of $51.08 — a -52.8% Margin of Safety based on Owner Earnings of $1.59B TTM, projected at -1.6% growth for 10 years with a 2.5% terminal growth rate. The Brina Gap of -7.3% weakens the case: based on the company's ROIC (10.4%) and reinvestment rate (5.9%), the business can fundamentally grow at 0.6% — but the current enterprise value implies the market expects 7.9%. This places QSR in the Expensive Hype quadrant of the Brina Matrix, the most fragile combination — overvalued on cash AND overpriced on growth. Zyberno's model translates this into a 5-year expected return of -9.6% annually.
Over the trailing twelve months, QSR generated $1.59B in Owner Earnings. Capital was deployed as follows: $32.00M returned via share buybacks, $1.07B paid as dividends, $259.00M invested in capital expenditures. Reinvestment rate: 5.9%. Owner Earnings have declined at 1.6% annually over the trailing five years using log-linear regression.