Restaurant Brands International Inc (QSR) is slightly undervalued and Yum Brands Inc (YUM) is slightly overvalued.
Against our estimates of intrinsic value, QSR trades at the wider discount: a margin of safety of +8%, against -8% for YUM.
Values as of the 22 Sept 2026 close.
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
Discounting its cash flows at 7.7% (average of 3 methods) values the shares at $129.33; the price of $139.71 is 8% above that value, and 81% of that value comes from beyond year five.
Leak Score 65/100 on 8 of 12 signals
| Metric | QSR | YUM |
|---|---|---|
| Verdict | Slightly undervalued | Slightly overvalued |
| Price | $71.91 | $139.71 |
| Intrinsic value | $78.55 | $129.33 |
| Margin of safety | +8% | -8% |
| Leak Score | 39/100 (9/12) | 65/100 (8/12) |
| Market cap | $32.7B | $38.1B |
| Revenue growth, 5 years | 13.7% | 7.8% |
| Operating margin | 27.2% | 32.4% |
| Net margin | 13.1% | 25.4% |
| Return on equity | 39.0% | — |
| Debt to equity | 4.07 | — |
| P/E | 21.3x | 17.6x |
| Forward P/E | 16.2x | 19.3x |
| P/B | 8.4x | — |
| Dividend yield | 3.6% | 2.1% |