Darden Restaurants Inc (DRI) is fairly valued and Restaurant Brands International Inc (QSR) is slightly undervalued.
Against our estimates of intrinsic value, QSR trades at the wider discount: a margin of safety of +8%, against +3% for DRI.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.5% (average of 3 methods) values the shares at $219.43; the price of $213.54 is 3% below that value, and 78% of that value comes from beyond year five.
Leak Score 59/100 on 9 of 12 signals
Discounting its cash flows at 7.5% (average of 3 methods) values the shares at $78.55; the price of $71.91 is 8% below that value, and 82% of that value comes from beyond year five.
Leak Score 39/100 on 9 of 12 signals
| Metric | DRI | QSR |
|---|---|---|
| Verdict | Fairly valued | Slightly undervalued |
| Price | $213.54 | $71.91 |
| Intrinsic value | $219.43 | $78.55 |
| Margin of safety | +3% | +8% |
| Leak Score | 59/100 (9/12) | 39/100 (9/12) |
| Market cap | $24.2B | $32.7B |
| Revenue growth, 5 years | 12.9% | 13.7% |
| Operating margin | 12.2% | 27.2% |
| Net margin | 9.1% | 13.1% |
| Return on equity | 53.7% | 39.0% |
| Debt to equity | 3.63 | 4.07 |
| P/E | 20.6x | 21.3x |
| Forward P/E | 17.2x | 16.2x |
| P/B | 11.0x | 8.4x |
| Dividend yield | 3.1% | 3.6% |