QSR
Restaurant Brands International Inc.
stock NYSE

People fixate on % growth or % declines but when you compare systemwide sales by total store count, you’ll find that Jack still has better unit sales than many QSR (not all obviously) that are trading at above 15x multiples.
Growth isn’t factored in Jacks valuation, it’s valued as a mature company in its company lifecycle. Earnings yield is high and relatively very cheap when compared to similar QSR’s in the same lifecycle.
A single quarter won’t mean much, but new management has only been around since May-June and indicates the SSS bottom is reached - especially looking at the recent campaigns Jack is doing.

Do you live in CA, WA, or NY? That sounds crazy, ngl. What is your state tax %?
Also I re read my comment and I meant that MCD has the widest moat QSR, which is factually true. If anything, fuck inflation bro 😩

Great, he’s not a turn around guy. Taco Bell has been the gold standard of QSR and fast casual credits for over 20 years. He was there from 2019-2024 - time when franchisee multiples went from like 8-9x to like 12x valuations. Even guys who are turn around experts and turned franchise systems around, have issues when it’s just gone too far. Greg Brenneman turned around BKC and Continental Airlines and then attempted to turn Quiznos…you see one recently?

People fixate on % growth or % declines but when you compare systemwide sales by total store count, you’ll find that Jack still has better unit sales than many QSR (not all obviously) that are trading at above 15x multiples.
Growth isn’t factored in Jacks valuation, it’s valued as a mature company in its company lifecycle. Earnings yield is high and relatively very cheap when compared to similar QSR’s in the same lifecycle.
A single quarter won’t mean much, but new management has only been around since May-June and indicates the SSS bottom is reached - especially looking at the recent campaigns Jack is doing.

Do you live in CA, WA, or NY? That sounds crazy, ngl. What is your state tax %?
Also I re read my comment and I meant that MCD has the widest moat QSR, which is factually true. If anything, fuck inflation bro 😩

Great, he’s not a turn around guy. Taco Bell has been the gold standard of QSR and fast casual credits for over 20 years. He was there from 2019-2024 - time when franchisee multiples went from like 8-9x to like 12x valuations. Even guys who are turn around experts and turned franchise systems around, have issues when it’s just gone too far. Greg Brenneman turned around BKC and Continental Airlines and then attempted to turn Quiznos…you see one recently?