Positioning no disclosures inside 60 days, left as found
Options put/call open interest 1.65, read 2026-11-02
Ethical does not pass the values gate
Price77.69 USD
Fair value77.18
Ethical score70.0/100
Value readFairas of 6 Nov 2026
Our investment reviews on this name
2026-11-05Read Markup78.38-0.9% to today Accumulation gives way to Markup after a 5% rise in 2 weeks
2026-10-22Read Accumulation74.34+4.5% to today ✓Markdown gives way to Accumulation with results news in the headlines
2026-10-15Read Markdown70.95+9.5% to today Distribution gives way to Markdown
2026-10-02Read Distribution69.76+11.4% to today Markup gives way to Distribution first Distribution read since July
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Restaurant Brands International Inc holds its Markup at $77.69. Consolidating, no directional conviction, held for 96 days.
As held on the ledger · 2026-11-06
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 96 days
Price at the screen
$77.69
Valuation
18.67 trailing · 16.82 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.59
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
61.31%
Below 33%
Interest-bearing debt is 61.3% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
7.64%
Below 49%
Money owed to the company is 7.6% of assets, under the 49% limit.
Pass
Revenue purity
0.33%
Below 5%
Only 0.3% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Restaurant Brands International's business is in a permissible area, but its interest-bearing debt is about 61% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-07. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when QSR's ethical verdict changes
Today QSR does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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The quantitative screen above is arithmetic. Separately, community boycott lists cite this company: Cited in consumer boycott campaigns for Burger King franchise operations in Israel. The desk records that flag here without folding it into the verdict: the screen measures the balance sheet, the overlay informs the conscience, and they are different judgements that belong to different owners. The second one is yours.
What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Fair vs our fair value, as of 6 Nov 2026: it trades above our $77.18 fair value estimate, narrow competitive moat, 3.10% revenue growth.
Fair value range in USD, drawn from the 2026-11-06 screen. The gold marker is the market price at the same screen. The price runs 0.7% above the base estimate.
Third-party analyst targets: 25 covering, consensus Buy. The average target sits +9% from the screen price.
Reading the gap · Our more conservative model reads it as roughly fairly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Where our models see it going: fair-value estimate $77.18, with a range of $68.40 to $88.75, dated to the 2026-11-06 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Familiar fast food brands with limited upside
Walk into any Tim Hortons or Burger King and the queues look reliable, yet the whole operation sits in a crowded market where loyalty is thin. Restaurant Brands shows a 28 percent return on equity and 7 percent revenue growth, with a forward multiple of 17 times and a narrow moat around its brands. Those figures keep the business ticking, yet they fall short of the threshold that would mark it as an opportunity.
The ethical screen is clear and the balance sheet is ordinary for the sector. Analyst targets sit around 85 dollars while the shares trade near 75, but the modest growth and limited competitive edge leave little room for outperformance.
Consumer spending can turn quickly when wages stall or tastes move, and a narrow moat offers scant protection in those moments. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
QSR trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-05Markup · changed$78.38+4.0%Entry 16
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 4.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (26 analysts) rates it buy, with a mean price target of $86.
2026-10-29Accumulation$75.34+1.3%Entry 15
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 1.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (26 analysts) rates it buy, with a mean price target of $86. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28Accumulation$74.34+0.0%Entry 14
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (26 analysts) rates it buy, with a mean price target of $86. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Accumulation$74.34+0.0%Entry 13
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (26 analysts) rates it buy, with a mean price target of $86. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26Accumulation$74.34+0.0%Entry 12
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (26 analysts) rates it buy, with a mean price target of $86. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Accumulation$74.34+0.0%Entry 11
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (26 analysts) rates it buy, with a mean price target of $86. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-24Accumulation$74.34+0.0%Entry 10
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (26 analysts) rates it buy, with a mean price target of $86. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-23Accumulation$74.34+0.0%Entry 9
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (26 analysts) rates it buy, with a mean price target of $86. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 4.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (26 analysts) rates it buy, with a mean price target of $86. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-15Markdown · changed$70.95+1.7%Entry 7
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 1.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 12%. The street (26 analysts) rates it buy, with a mean price target of $86.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.