RESTAURANT BRANDS ASIA LIMITED |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 104 INR | -0.86% |
|
+0.05% | -6.93% |
| 05-17 | Transcript : Restaurant Brands Asia Limited, Q4 2024 Earnings Call, May 17, 2024 | |
| 05-16 | Restaurant Brands Asia Limited Reports Earnings Results for the Fourth Quarter Ended March 31, 2024 | CI |
Valuation
| Fiscal Period: March | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 49,232 | 49,644 | 44,559 | 51,651 | - | - |
| Enterprise Value (EV) 1 | 45,828 | 44,269 | 43,187 | 50,257 | 61,797 | 64,823 |
| P/E ratio | -23.5 x | -20.4 x | -20.1 x | -23 x | -38 x | -64.3 x |
| Yield | - | - | - | - | - | - |
| Capitalization / Revenue | 9.96 x | 3.33 x | 2.17 x | 2.06 x | 1.77 x | 1.45 x |
| EV / Revenue | 9.27 x | 2.97 x | 2.1 x | 2.06 x | 2.12 x | 1.82 x |
| EV / EBITDA | 306 x | 45.9 x | 38.7 x | 20.8 x | 17.2 x | 13.6 x |
| EV / FCF | 58.1 x | -64.4 x | -20.9 x | -49.6 x | 71.2 x | 40 x |
| FCF Yield | 1.72% | -1.55% | -4.79% | -2.02% | 1.4% | 2.5% |
| Price to Book | 7.31 x | 4.65 x | 5.4 x | 8.26 x | 9.66 x | 11.1 x |
| Nbr of stocks (in thousands) | 382,980 | 492,749 | 494,554 | 496,405 | - | - |
| Reference price 2 | 128.6 | 100.8 | 90.10 | 104.0 | 104.0 | 104.0 |
| Announcement Date | 5/26/21 | 5/30/22 | 5/17/23 | 5/16/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: März | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,412 | 4,945 | 14,903 | 20,543 | 24,371 | 29,180 | 35,656 |
| EBITDA 1 | - | 149.9 | 965.4 | 1,115 | 2,421 | 3,585 | 4,768 |
| EBIT 1 | - | -1,126 | -1,370 | -1,726 | -1,140 | -358.2 | 375.8 |
| Operating Margin | - | -22.76% | -9.2% | -8.4% | -4.68% | -1.23% | 1.05% |
| Earnings before Tax (EBT) 1 | - | -1,739 | -2,352 | -2,418 | -2,367 | -1,398 | -838.6 |
| Net income 1 | - | -1,739 | -1,959 | -2,212 | -2,179 | -1,349 | -794.6 |
| Net margin | - | -35.17% | -13.15% | -10.77% | -8.94% | -4.62% | -2.23% |
| EPS 2 | - | -5.470 | -4.940 | -4.480 | -4.400 | -2.739 | -1.618 |
| Free Cash Flow 1 | - | 788.7 | -686.9 | -2,070 | -1,348 | 867.8 | 1,621 |
| FCF margin | - | 15.95% | -4.61% | -10.08% | -5.51% | 2.97% | 4.55% |
| FCF Conversion (EBITDA) | - | 526.28% | - | - | - | 24.21% | 34% |
| FCF Conversion (Net income) | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - |
| Announcement Date | 11/25/20 | 5/26/21 | 5/30/22 | 5/17/23 | 5/16/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,632 | 1,961 | 1,497 | 2,454 | 2,799 | 3,998 | 4,892 | 5,248 | 5,263 | 5,140 | 6,108 | 5,088 | 5,744 | 5,814 |
| EBITDA 1 | -100.8 | 244.7 | 15.35 | 255.9 | 328.2 | 202.3 | 292.3 | 251.4 | 297.2 | 273.8 | - | 648 | 646.5 | 598.5 |
| EBIT | - | - | -313.3 | -77.84 | -15.79 | -388.3 | - | - | -379.1 | - | - | - | - | - |
| Operating Margin | - | - | -20.92% | -3.17% | -0.56% | -9.71% | - | - | -7.2% | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | -443.5 | -202.3 | -151.6 | -815.4 | - | -550.6 | -558.9 | -799.6 | - | - | - | - |
| Net income 1 | - | - | -443.5 | -202.3 | -151.6 | -670.7 | - | -486.4 | -504.2 | -733.7 | - | -89 | - | -558 |
| Net margin | - | - | -29.62% | -8.24% | -5.42% | -16.78% | - | -9.27% | -9.58% | -14.28% | - | -1.75% | - | -9.6% |
| EPS | - | - | -1.160 | -0.5300 | -0.3900 | -1.530 | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/10/22 | 5/26/21 | 8/13/21 | 11/12/21 | 1/24/22 | 5/30/22 | 8/12/22 | 11/11/22 | 2/8/23 | 5/17/23 | 8/7/23 | - | - | - |
1INR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | 15,187 | 10,146 | 13,172 |
| Net Cash position 1 | - | 3,404 | 5,376 | 1,373 | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | 6.303 x | 2.83 x | 2.762 x |
| Free Cash Flow 1 | - | 789 | -687 | -2,070 | -1,348 | 868 | 1,621 |
| ROE (net income / shareholders' equity) | - | -35% | -33.3% | -23.7% | -26.4% | -23.8% | -19% |
| ROA (Net income/ Total Assets) | - | - | - | - | -3.2% | - | - |
| Assets 1 | - | - | - | - | 59,875 | - | - |
| Book Value Per Share 2 | - | 17.60 | 21.70 | 16.70 | 12.60 | 10.80 | 9.340 |
| Cash Flow per Share 2 | - | - | 1.740 | 2.520 | 5.400 | 8.240 | 13.70 |
| Capex 1 | - | 350 | 1,379 | 3,313 | 3,666 | 2,971 | 3,935 |
| Capex / Sales | - | 7.08% | 9.25% | 16.13% | 14.98% | 10.18% | 11.04% |
| Announcement Date | 11/25/20 | 5/26/21 | 5/30/22 | 5/17/23 | 5/16/24 | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
11
Last Close Price
104
INR
Average target price
128.8
INR
Spread / Average Target
+23.80%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -6.93% | 620M | |
| -10.55% | 192B | |
| +37.84% | 87.15B | |
| +5.77% | 39.23B | |
| -8.64% | 23.21B | |
| -11.72% | 21.83B | |
| +24.24% | 17.89B | |
| -11.68% | 14.9B | |
| +46.05% | 11.17B | |
| +4.79% | 7.48B |
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- Financials Restaurant Brands Asia Limited