RESTAURANT BRANDS INTERNATIONAL INC.

QSR · Consumer Discretionary · $26.0B mkt cap · FY2025 filings · Narrow moat

On the watchlist

Narrow moat

The four filters

Pricing power97

Median gross margin 65.7% over 8y, very stable.

Returns on capital68

Median ROIC 12.6%, above the 9% hurdle in 100% of years.

Balance-sheet safety40

Net debt/EBITDA 4.8x, no material interest expense disclosed.

Capital discipline18

Owner earnings +0.2%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

55% above value

Owner earnings (normalized): $1.5B
Est. intrinsic value / share: $48.38
Recent price: $75.20
Discount to value: 55% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell QSR. See the disclaimer.