WallStSmart

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

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Restaurant Brands International Inc generates 2311% more annual revenue ($9.59B vs $397.71M). QSR leads profitability with a 10.0% profit margin vs -4.7%. QSR earns a higher WallStSmart Score of 68/100 (B-).

BH

Avoid

29

out of 100

Grade: F

Growth: 3.3Profit: 3.0Value: 5.0Quality: 6.0
Piotroski: 2/9Altman Z: 1.88

QSR

Strong Buy

68

out of 100

Grade: B-

Growth: 8.0Profit: 8.0Value: 6.7Quality: 3.0
Piotroski: 5/9Altman Z: 0.90
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

Intrinsic value data unavailable for BH.

QSRUndervalued (+25.1%)

Margin of Safety

+25.1%

Fair Value

$94.44

Current Price

$75.26

$19.18 discount

UndervaluedFair: $94.44Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

BH1 strengths · Avg: 10.0/10
Price/BookValuation
0.5x10/10

Reasonable price relative to book value

QSR3 strengths · Avg: 9.0/10
EPS GrowthGrowth
100.0%10/10

Earnings expanding 100.0% YoY

Return on EquityProfitability
25.5%9/10

Every $100 of equity generates 26 in profit

Operating MarginProfitability
25.9%8/10

Strong operational efficiency at 25.9%

Areas to Watch

BH4 concerns · Avg: 3.5/10
Revenue GrowthGrowth
2.6%4/10

2.6% revenue growth

Altman Z-ScoreHealth
1.884/10

Grey zone — moderate risk

Market CapQuality
$1.24B3/10

Smaller company, higher risk/reward

Operating MarginProfitability
2.9%3/10

Operating margin of 2.9%

QSR2 concerns · Avg: 1.5/10
Altman Z-ScoreHealth
0.902/10

Distress zone — elevated risk

Debt/EquityHealth
4.191/10

Elevated debt levels

Comparative Analysis Report

WallStSmart Research

Bull Case : BH

The strongest argument for BH centers on Price/Book.

Bull Case : QSR

The strongest argument for QSR centers on EPS Growth, Return on Equity, Operating Margin. PEG of 1.26 suggests the stock is reasonably priced for its growth.

Bear Case : BH

The primary concerns for BH are Revenue Growth, Altman Z-Score, Market Cap.

Bear Case : QSR

The primary concerns for QSR are Altman Z-Score, Debt/Equity. Debt-to-equity of 4.19 is elevated, increasing financial risk.

Key Dynamics to Monitor

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

BH carries more volatility with a beta of 0.53 — expect wider price swings.

QSR is growing revenue faster at 7.3% — sustainability is the question.

QSR generates stronger free cash flow (169M), providing more financial flexibility.

Bottom Line

QSR scores higher overall (68/100 vs 29/100). Both earn "Strong 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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