QSR (Restaurant Brands International) Scaled Net Operating Assets: 0.78 (As of Mar. 2026)


QSR Restaurant Brands International Inc QSR
84 GF Score
Price $73.25
GF Value $85.69
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Restaurant Brands International Scaled Net Operating Assets?

Restaurant Brands International QSR -2.06% 84 Scaled Net Operating Assets is 0.78 as of Mar. 2026. GuruFocus rates QSR with a GF Score™ of 84/100 and a GF Value™ of $85.69 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Restaurant Brands International's operating assets for the quarter that ended in Mar. 2026 was $23,868 Mil. Restaurant Brands International's operating liabilities for the quarter that ended in Mar. 2026 was $3,883 Mil. Restaurant Brands International's Total Assets for the quarter that ended in Dec. 2025 was $25,615 Mil. Therefore, Restaurant Brands International's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.78.


Restaurant Brands International Scaled Net Operating Assets Historical Data

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The historical data trend for Restaurant Brands International's Scaled Net Operating Assets 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.

Restaurant Brands International Scaled Net Operating Assets Chart

Restaurant Brands International Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.76 0.76 0.80 0.83 0.80

Restaurant Brands International Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets 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 0.81 0.81 0.77 0.77 0.78

QSR vs MCD, SBUX, YUM: Scaled Net Operating Assets Comparison

For the Restaurants subindustry, Restaurant Brands International's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Scaled Net Operating Assets vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Restaurant Brands International's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Restaurant Brands International's Scaled Net Operating Assets falls into.


QSR
84GF Score
Restaurant Brands International Inc QSR
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Restaurant Brands International Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Restaurant Brands International's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(24452-4752)/24632
=0.80

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=25615 - 1163
=24452

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=20456 - 15436 - 268
=4752

Restaurant Brands International's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(23868-3883)/25615
=0.78

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=24880 - 1012
=23868

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=19589 - 15420 - 286
=3883

* 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.

What does a Scaled Net Operating Assets of 0.78 mean?
Restaurant Brands International (QSR) has a Scaled Net Operating Assets of 0.78 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Restaurant Brands International and its competitors.
Is Restaurant Brands International's Scaled Net Operating Assets too high?
Restaurant Brands International's current Scaled Net Operating Assets is 0.78. Overall, Restaurant Brands International has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Restaurant Brands International's Scaled Net Operating Assets compare to MCD and SBUX?
Restaurant Brands International's Scaled Net Operating Assets of 0.78 can be compared against companies in the Restaurants industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Restaurants company?
A good Scaled Net Operating Assets depends on the Restaurants industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Restaurant Brands International and its competitors. Restaurant Brands International's current Scaled Net Operating Assets is 0.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Restaurant Brands International stock overvalued right now?
Based on GuruFocus' analysis, Restaurant Brands International (QSR) is currently considered Modestly Undervalued. The stock's GF Value™ is $85.69, compared to a current price of $73.25 — trading 14.5% below its estimated fair value. The current Scaled Net Operating Assets is 0.78. Restaurant Brands International's overall GF Score™ is 84/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Restaurant Brands International (QSR), the current Scaled Net Operating Assets is 0.78 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Restaurant Brands International (QSR) Overvalued in 2026?

Based on GuruFocus' analysis, Restaurant Brands International stock appears to be undervalued. The current stock price of $73.25 is trading 14.5% below its estimated GF Value™ of $85.69. GuruFocus considers Restaurant Brands International to be Modestly Undervalued.

Key valuation signals for QSR:

  • Scaled Net Operating Assets: 0.78
  • GF Value™: $85.69 vs. price of $73.25 (14.5% below fair value)
  • GF Score™: 84/100 with 5 warning signs

No single metric tells the full story. See the QSR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Restaurant Brands International Business Description

Address 5707 Waterford District Drive, Suite 300, P.O. Box 339, Miami, FL, USA, 33126
Restaurant Brands generates about $47 billion in system sales across more than 33,000 restaurants in over 120 markets, making it one of the largest restaurant companies globally. Its banners include Burger King (7,025 stores), Tim Hortons (4,586), Popeyes (3,578), and Firehouse Subs (1,449), concentrated in the US and Canada, with these brands also comprising 16,403 franchised international locations as of year-end 2025. The firm primarily earns revenue from franchise and property fees, supply chain sales within the Tim Hortons segment, company-operated restaurants, and advertising royalties.
84GF Score

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Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$73.25
Price
$85.69
GF Value