WallStSmart

Biglari Holdings Inc (BH-A)vsRestaurant Brands International Inc (QSR)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Restaurant Brands International Inc generates 2287% more annual revenue ($9.43B vs $395.26M). QSR leads profitability with a 8.2% profit margin vs -9.5%. QSR earns a higher WallStSmart Score of 57/100 (C).

BH-A

Avoid

31

out of 100

Grade: F

Growth: 4.0Profit: 3.0Value: 5.0Quality: 5.0

QSR

Buy

57

out of 100

Grade: C

Growth: 5.3Profit: 7.5Value: 7.3Quality: 4.3
Piotroski: 4/9Altman Z: 0.93
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

Intrinsic value data unavailable for BH-A.

QSRSignificantly Overvalued (-295.4%)

Margin of Safety

-295.4%

Fair Value

$17.88

Current Price

$72.92

$55.04 premium

UndervaluedFair: $17.88Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

BH-A1 strengths · Avg: 8.0/10
Price/BookValuation
2.0x8/10

Reasonable price relative to book value

QSR2 strengths · Avg: 8.5/10
Return on EquityProfitability
24.0%9/10

Every $100 of equity generates 24 in profit

Operating MarginProfitability
26.4%8/10

Strong operational efficiency at 26.4%

Areas to Watch

BH-A4 concerns · Avg: 2.5/10
Market CapQuality
$1.05B3/10

Smaller company, higher risk/reward

Operating MarginProfitability
3.6%3/10

Operating margin of 3.6%

Return on EquityProfitability
-6.8%2/10

ROE of -6.8% — below average capital efficiency

EPS GrowthGrowth
-64.2%2/10

Earnings declined 64.2%

QSR3 concerns · Avg: 2.7/10
P/E RatioValuation
28.1x4/10

Moderate valuation

EPS GrowthGrowth
-57.4%2/10

Earnings declined 57.4%

Altman Z-ScoreHealth
0.932/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : BH-A

The strongest argument for BH-A centers on Price/Book.

Bull Case : QSR

The strongest argument for QSR centers on Return on Equity, Operating Margin. PEG of 1.16 suggests the stock is reasonably priced for its growth.

Bear Case : BH-A

The primary concerns for BH-A are Market Cap, Operating Margin, Return on Equity.

Bear Case : QSR

The primary concerns for QSR are P/E Ratio, EPS Growth, Altman Z-Score.

Key Dynamics to Monitor

BH-A profiles as a turnaround stock while QSR is a value play — different risk/reward profiles.

BH-A carries more volatility with a beta of 0.66 — expect wider price swings.

BH-A is growing revenue faster at 9.6% — sustainability is the question.

QSR generates stronger free cash flow (441M), providing more financial flexibility.

Bottom Line

QSR scores higher overall (57/100 vs 31/100). Both earn "Buy" and "Avoid" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Biglari Holdings Inc

CONSUMER CYCLICAL · RESTAURANTS · USA

Biglari Holdings Inc., primarily operates and franchises restaurants in the United States. The company is headquartered in San Antonio, Texas.

Restaurant Brands International Inc

CONSUMER CYCLICAL · RESTAURANTS · USA

Restaurant Brands International Inc. owns, operates and franchises quick-service restaurants under the Tim Hortons (TH), Burger King (BK) and Popeyes (PLK) brands. The company is headquartered in Toronto, Canada.

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