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Restaurant Brands International LP (TSX:QSP.UN) Cyclically Adjusted PB Ratio : 5.25 (As of May. 09, 2024)


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What is Restaurant Brands International LP Cyclically Adjusted PB Ratio?

As of today (2024-05-09), Restaurant Brands International LP's current share price is C$100.79. Restaurant Brands International LP's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was C$19.19. Restaurant Brands International LP's Cyclically Adjusted PB Ratio for today is 5.25.

The historical rank and industry rank for Restaurant Brands International LP's Cyclically Adjusted PB Ratio or its related term are showing as below:

TSX:QSP.UN' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 4.49   Med: 5.3   Max: 5.61
Current: 5.36

During the past years, Restaurant Brands International LP's highest Cyclically Adjusted PB Ratio was 5.61. The lowest was 4.49. And the median was 5.30.

TSX:QSP.UN's Cyclically Adjusted PB Ratio is ranked worse than
80.09% of 226 companies
in the Restaurants industry
Industry Median: 2.115 vs TSX:QSP.UN: 5.36

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Restaurant Brands International LP's adjusted book value per share data for the three months ended in Mar. 2024 was C$19.493. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is C$19.19 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


Restaurant Brands International LP Cyclically Adjusted PB Ratio Historical Data

The historical data trend for Restaurant Brands International LP's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Restaurant Brands International LP Cyclically Adjusted PB Ratio Chart

Restaurant Brands International LP Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - - - 5.39

Restaurant Brands International LP Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - 4.62 5.39 5.58

Competitive Comparison of Restaurant Brands International LP's Cyclically Adjusted PB Ratio

For the Restaurants subindustry, Restaurant Brands International LP's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Restaurant Brands International LP's Cyclically Adjusted PB Ratio Distribution in the Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Restaurant Brands International LP's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Restaurant Brands International LP's Cyclically Adjusted PB Ratio falls into.



Restaurant Brands International LP Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Restaurant Brands International LP's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=100.79/19.19
=5.25

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Restaurant Brands International LP's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 is calculated as:

For example, Restaurant Brands International LP's adjusted Book Value per Share data for the three months ended in Mar. 2024 was:

Adj_Book=Book Value per Share/CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=19.493/125.4675*125.4675
=19.493

Current CPI (Mar. 2024) = 125.4675.

Restaurant Brands International LP Quarterly Data

Book Value per Share CPI Adj_Book
201406 0.000 99.473 0.000
201409 0.000 99.394 0.000
201412 18.853 98.367 24.047
201503 18.402 99.789 23.137
201506 18.108 100.500 22.607
201509 18.749 100.421 23.425
201512 19.541 99.947 24.531
201603 20.427 101.054 25.362
201606 20.394 102.002 25.086
201609 20.724 101.765 25.551
201612 21.087 101.449 26.080
201703 21.509 102.634 26.294
201706 22.221 103.029 27.061
201709 21.675 103.345 26.315
201712 13.873 103.345 16.843
201803 13.067 105.004 15.614
201806 13.205 105.557 15.696
201809 13.645 105.636 16.207
201812 11.863 105.399 14.122
201903 12.316 106.979 14.444
201906 12.846 107.690 14.967
201909 14.631 107.611 17.059
201912 15.247 107.769 17.751
202003 14.247 107.927 16.562
202006 14.297 108.401 16.548
202009 14.206 108.164 16.479
202012 13.332 108.559 15.408
202103 14.067 110.298 16.002
202106 14.566 111.720 16.358
202109 14.981 112.905 16.648
202112 14.202 113.774 15.662
202203 14.504 117.646 15.468
202206 14.483 120.806 15.042
202209 15.595 120.648 16.218
202212 16.798 120.964 17.423
202303 17.200 122.702 17.588
202306 18.125 124.203 18.309
202309 18.796 125.230 18.832
202312 18.901 125.468 18.901
202403 19.493 125.468 19.493

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Restaurant Brands International LP  (TSX:QSP.UN) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Restaurant Brands International LP Cyclically Adjusted PB Ratio Related Terms

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Restaurant Brands International LP (TSX:QSP.UN) Business Description

Traded in Other Exchanges
Address
130 King Street West, Suite 300, P.O. Box 339, Toronto, ON, CAN, M5X 1E1
Restaurant Brands International LP is a Canada-based firm. It owns, operates and franchises quick-service restaurants and possesses market recognition. It operates in three segments namely; Tim Hortons; Burger King; and Popeyes Louisiana Kitchen. Its business generates revenue from franchise revenues; property revenues from properties it leases or subleases to franchisees; and sales at restaurants owned by the company. In addition, the Tim Hortons business generates a vast majority of the revenue from sales to franchisees related to its supply chain operations, including manufacturing, procurement, warehousing, and distribution, as well as sales to retailers.

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