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fifth restaurant stop i'm covering is qsr restaurant brands inc rbi operates the brands burger king team hortons popeyes and firehouse subs it's the fifth largest operator of fast food restaurants in the world behind subway mcdonald's starbucks and yum brands it's a canada-based holding company actually this is an admin stop he owns 24 almost 24 million shares of qsr with value of one almost 1.4 billion dollars comprising 13.41 of his portfolio at pershing square capital management along with other restaurant stocks like cmg and dpc i can say he likes speculative growth stocks i mean he owned netflix for a while and lost what 400 million dollars cmg is trading like a tesla very overvalued dpc from the last time i screened it it's down 14 i don't know about his process but i mean if he had bought this shares at cheap prices then kudos to him anyway let's look at what price we should buy qsr qsr is currently trading at 51.73 with market cap of 23.39 billion npa ratio of 19.19 they give out an annual dividend of 2.16 per share a yield of 4.18 of the current price qsr is now down 34 of the highest first metric we want an eps multiple lower than three it's 7.11 it's expensive let's see if the pe is too high or the eps is just too low eps is increasing not very much because look at their shares outstanding they're diluting their shareholders i guess it's the pe that is very high second metric we want to pay a dollar or less for one percent of the money they're making meaning we want to pay one pe or less for one percent of their margins lowest margin i used here is 22.86 the 10-year average margin i didn't use any of the net income margins or the profit margins because clearly there's a gap between these two margins and free cash flow margin is more important than the profit margin 0.84 multiple qsr is trading at a discount right now i used 40 margin of safety here for the stock just because it's a canada based company i want some additional margin attributed to the exchange rates third metric is price to free cash flow this is low at 14.68 so i guess qsr is cheap price to free cash flow ratio wise although it's 1.31 times premium here we want this lower than one of course so we might want to wait and see if this ever gets to at least no below one fourth metric they pay out 80 of their net income as dividends don't get confused by this this is net income you have to then translate this to free cash flow 15 free cash flow margin is left when dividends are discounted historical data suggests it's trading at the lower p e now pb ratio is near my threshold it's 5.91 still a bit high 0.92 current ratio we want this above 1.
their debt levels are concerning 8-14 years you might want to look more into this because the capital list are not included here yet this is the valuation summary for qsr i think qsr is trading at the discount right now only trading at 0.84 times their margins although if i were you i won't buy just yet i'd wait for their price to free cash flow too much their pe i don't own the stock i don't think you should pay premium for the stock my rating is a buy maybe hold some more 61 dollars is my fair value 31 is intrinsic value this is from guru focus here are my entry pe's and prices 14 16 18 pes i could be a buyer of qsr at 48 this is my high entry price let's look at their charts 60 is my fair values fifty four dollars is four percent dividend yield forty three dollars is five percent dividend yield forty dollars is my high entry price so if you can buy it at five percent dividend yield at forty three dollars that would be great but i think any price below forty eight dollars is good for long term you
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