Restaurant Brands International Limited Partnership (RSTRF) intrinsic value & 10-year financials
Restaurant Brands International Limited Partnership (RSTRF) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 9.6% a year to $9.4B, with an average return on invested capital of 10.6%.
- Graham intrinsic value
- —
- Revenue (FY2025)
- $9.4B
- Revenue growth (10-yr CAGR)
- 9.6%
- ROIC (10-yr avg)
- 10.6%
- Free cash flow (FY2025)
- $1.4B
RSTRF 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $9.4B | $1.1B | — | $1.4B | 23.3% | 7.9% |
| FY2024 | $8.4B | $1.4B | — | $1.3B | 28.8% | 10.4% |
| FY2023 | $7.0B | $1.7B | — | $1.2B | 29.2% | 11.6% |
| FY2022 | $6.5B | $1.5B | — | $1.4B | 29.2% | 11.0% |
| FY2021 | $5.7B | $1.3B | — | $1.6B | 32.7% | 10.4% |
| FY2020 | $5.0B | $750.0M | — | $804.0M | 28.6% | 8.2% |
| FY2019 | $5.6B | $1.1B | — | $1.4B | 35.8% | 10.0% |
| FY2018 | $5.4B | $1.1B | — | $1.1B | 35.8% | 10.5% |
| FY2017 | $4.6B | $1.2B | — | $1.4B | 37.9% | 13.4% |
| FY2016 | $4.1B | $955.9M | — | $1.2B | 40.2% | 12.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Restaurant Brands International Limited Partnership is a consistent compounder, expanding top-line revenue at 9.6% annually over the past decade.
Restaurant Brands International Limited Partnership returns on capital have been average, hovering around 10.6% ROIC over the decade.
Over the decade, Restaurant Brands International Limited Partnership shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Restaurant Brands International Limited Partnership is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment.