Restaurant Brands International Limited Partnership (QSP-UN) - Net Assets
Based on the latest financial reports, Restaurant Brands International Limited Partnership (QSP-UN) has net assets worth CA$5.29 Billion CAD (≈ $3.83 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$24.88 Billion ≈ $18.00 Billion USD) and total liabilities (CA$19.59 Billion ≈ $14.17 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how tangible is Restaurant Brands International Limited 's equity to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$5.29 Billion |
| % of Total Assets | 21.27% |
| Annual Growth Rate | 12.05% |
| 5-Year Change | 33.9% |
| 10-Year Change | -23.97% |
| Growth Volatility | 108.62 |
Restaurant Brands International Limited Partnership - Net Assets Trend (2012–2025)
This chart illustrates how Restaurant Brands International Limited Partnership's net assets have evolved over time, based on quarterly financial data. See Restaurant Brands International Limited liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Restaurant Brands International Limited Partnership (2012–2025)
The table below shows the annual net assets of Restaurant Brands International Limited Partnership from 2012 to 2025. For live valuation and market cap data, see how much is Restaurant Brands International Limited worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$5.16 Billion ≈ $3.73 Billion |
+6.52% |
| 2024-12-31 | CA$4.84 Billion ≈ $3.50 Billion |
+2.39% |
| 2023-12-31 | CA$4.73 Billion ≈ $3.42 Billion |
+10.82% |
| 2022-12-31 | CA$4.27 Billion ≈ $3.09 Billion |
+10.77% |
| 2021-12-31 | CA$3.85 Billion ≈ $2.79 Billion |
+3.55% |
| 2020-12-31 | CA$3.72 Billion ≈ $2.69 Billion |
-12.63% |
| 2019-12-31 | CA$4.26 Billion ≈ $3.08 Billion |
+17.72% |
| 2018-12-31 | CA$3.62 Billion ≈ $2.62 Billion |
-20.68% |
| 2017-12-31 | CA$4.56 Billion ≈ $3.30 Billion |
-32.78% |
| 2016-12-31 | CA$6.79 Billion ≈ $4.91 Billion |
+9.27% |
| 2015-12-31 | CA$6.21 Billion ≈ $4.49 Billion |
-18.63% |
| 2014-12-31 | CA$7.63 Billion ≈ $5.52 Billion |
+403.32% |
| 2013-12-31 | CA$1.52 Billion ≈ $1.10 Billion |
+29.04% |
| 2012-12-31 | CA$1.18 Billion ≈ $849.98 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Restaurant Brands International Limited Partnership's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 2258.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$1.79 Billion | 49.39% |
| Common Stock | CA$2.86 Billion | 78.67% |
| Other Comprehensive Income | CA$-1.02 Billion | -28.07% |
| Total Equity | CA$3.63 Billion | 100.00% |
Restaurant Brands International Limited Partnership Competitors by Market Cap
The table below lists competitors of Restaurant Brands International Limited Partnership ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Deutsche Wohnen SE
F:DWNI
|
$7.91 Billion |
|
AXIS Capital Holdings Ltd
NYSE:AXS
|
$7.92 Billion |
|
Bharti Hexacom Ltd
NSE:BHARTIHEXA
|
$7.92 Billion |
|
BlueFocus Communication Group
SHE:300058
|
$7.92 Billion |
|
Charter Hall Group
AU:CHC
|
$7.91 Billion |
|
Renault SA
F:RNL1
|
$7.90 Billion |
|
Zhejiang Dahua Technology Co Ltd
SHE:002236
|
$7.89 Billion |
|
ESCO Technologies Inc
NYSE:ESE
|
$7.89 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Restaurant Brands International Limited Partnership's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,110,000,000 to 3,634,000,000, a change of 524,000,000 (16.8%).
- Net income of 776,000,000 contributed positively to equity growth.
- Dividend payments of 1,108,000,000 reduced retained earnings.
- Other comprehensive income increased equity by 87,000,000.
- Other factors increased equity by 769,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$776.00 Million | +21.35% |
| Dividends Paid | CA$1.11 Billion | -30.49% |
| Other Comprehensive Income | CA$87.00 Million | +2.39% |
| Other Changes | CA$769.00 Million | +21.16% |
| Total Change | CA$- | 16.85% |
Book Value vs Market Value Analysis
This analysis compares Restaurant Brands International Limited Partnership's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 12.58x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 30.14x to 12.58x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-12-31 | CA$3.32 | CA$100.00 | x |
| 2013-12-31 | CA$4.24 | CA$100.00 | x |
| 2014-12-31 | CA$14.45 | CA$100.00 | x |
| 2015-12-31 | CA$9.73 | CA$100.00 | x |
| 2016-12-31 | CA$10.64 | CA$100.00 | x |
| 2017-12-31 | CA$4.66 | CA$100.00 | x |
| 2018-12-31 | CA$3.41 | CA$100.00 | x |
| 2019-12-31 | CA$5.31 | CA$100.00 | x |
| 2020-12-31 | CA$4.63 | CA$100.00 | x |
| 2021-12-31 | CA$4.82 | CA$100.00 | x |
| 2022-12-31 | CA$5.49 | CA$100.00 | x |
| 2023-12-31 | CA$6.29 | CA$100.00 | x |
| 2024-12-31 | CA$6.85 | CA$100.00 | x |
| 2025-12-31 | CA$7.95 | CA$100.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Restaurant Brands International Limited Partnership utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 21.35%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 8.23%
- • Asset Turnover: 0.37x
- • Equity Multiplier: 7.05x
- Recent ROE (21.35%) is below the historical average (24.13%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | 10.02% | 5.97% | 0.35x | 4.74x | CA$200.00K |
| 2013 | 15.41% | 20.39% | 0.20x | 3.84x | CA$82.08 Million |
| 2014 | 3.12% | 13.46% | 0.06x | 4.12x | CA$-356.04 Million |
| 2015 | 8.10% | 9.26% | 0.22x | 3.97x | CA$-88.26 Million |
| 2016 | 12.32% | 14.86% | 0.22x | 3.83x | CA$116.05 Million |
| 2017 | 29.11% | 14.16% | 0.22x | 9.53x | CA$425.36 Million |
| 2018 | 37.99% | 11.42% | 0.27x | 12.50x | CA$450.90 Million |
| 2019 | 25.82% | 11.48% | 0.25x | 8.98x | CA$394.00 Million |
| 2020 | 22.43% | 9.78% | 0.22x | 10.51x | CA$269.30 Million |
| 2021 | 37.46% | 14.60% | 0.25x | 10.39x | CA$614.30 Million |
| 2022 | 40.34% | 15.50% | 0.29x | 9.10x | CA$758.10 Million |
| 2023 | 41.52% | 16.95% | 0.30x | 8.16x | CA$903.40 Million |
| 2024 | 32.83% | 12.15% | 0.34x | 7.92x | CA$710.00 Million |
| 2025 | 21.35% | 8.23% | 0.37x | 7.05x | CA$412.60 Million |
Industry Comparison
This section compares Restaurant Brands International Limited Partnership's net assets metrics with peer companies in the Restaurants industry.
Industry Context
- Industry: Restaurants
- Average net assets among peers: $1,280,411,339
- Average return on equity (ROE) among peers: 5.43%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Restaurant Brands International Limited Partnership (QSP-UN) | CA$5.29 Billion | 10.02% | 3.70x | $7.91 Billion |
| Aegis Brands Inc (AEG) | $28.26 Million | -10.96% | 0.58x | $16.35 Million |
| A&W Food Services of Canada (AW) | $222.29 Million | 24.83% | 4.57x | $621.63 Million |
| MTY Food Group Inc (MTY) | $812.89 Million | 12.80% | 2.30x | $668.85 Million |
| Odd Burger Corp (ODD) | $-3.36 Million | 0.00% | 0.00x | $2.49 Million |
| Pizza Pizza Royalty Corp. (PZA) | $273.45 Million | 9.23% | 0.25x | $234.18 Million |
| Restaurant Brands International Inc (QSR) | $7.63 Billion | 2.11% | 1.80x | $26.82 Billion |
| SPoT Coffee Ltd (SPP) | $-2.04 Million | 0.00% | 0.00x | $1.76 Million |
About Restaurant Brands International Limited Partnership
Restaurant Brands International Limited Partnership operates and franchises quick service restaurants in the United States and internationally. The company operates through six segments: Tim Hortons, Burger King, Popeyes Louisiana Kitchen, Firehouse Subs, International, and Restaurant Holdings. Its restaurants offers coffee and other beverages, baked goods, and food products under the Tim Hortons… Read more