Restaurant Brands: Trading At A Discount Despite Strong Results And Inflecting Trends

Pershing Square Holdings997 FollowersFollow5ShareSavePlay(4min)CommentsSummaryRestaurant Brands International reported strong results of 3% comparable sales growth and 8% operating profit growth in 2025, in line with its long-term algorithm.Tim Hortons and the International division, which collectively represent nearly 70% of the company's profits, are materially outperforming peers.The China business's recent sale to a new master franchisee should serve as a catalyst for expansion, with a commitment to triple the store base over the next decade.Restaurant Brands International's plan to re-franchise acquired Carrols stores to smaller, operator-led franchisees is proceeding ahead of schedule.QSR trades at 16 times estimated earnings per share, representing a discount of nearly 30% to peers with comparable long-term earnings growth potential. dolgachov/iStock via Getty Images The following segment was excerpted from the Pershing Square Holdings (PSHZF) H2 2025 Letter To Shareholders.

Restaurant Brands International (QSR)'s franchised business model is a high-quality, capital-light, growing annuity th at generates high-margin brand royaltyThis article was written byPershing Square Holdings997 FollowersFollowPershing Square Holdings, Ltd. is an investment holding company structured as a closed-ended fund principally engaged in the business of acquiring and holding significant (but generally not controlling) positions in a concentrated number of large capitalization companies. PSH’s objective is to maximize its long-term compound annual rate of growth in intrinsic value per share. Note: This account is not managed or monitored by Pershing Square Holdings, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Pershing Square Holdings' official channels.