Financials Restaurant Brands Asia Limited

Equities

RBA

INE07T201019

Restaurants & Bars

End-of-day quote NSE India S.E. 06:00:00 2024-04-29 pm EDT 5-day change 1st Jan Change
99.9 INR -0.05% Intraday chart for Restaurant Brands Asia Limited +1.16% -10.64%

Valuation

Fiscal Period: March 2021 2022 2023 2024 2025 2026
Capitalization 1 49,232 49,644 44,559 49,591 - -
Enterprise Value (EV) 1 45,828 44,269 43,187 64,778 70,089 74,737
P/E ratio -23.5 x -20.4 x -20.1 x -25.8 x -37 x -40.8 x
Yield - - - - - -
Capitalization / Revenue 9.96 x 3.33 x 2.17 x 2.03 x 1.61 x 1.32 x
EV / Revenue 9.27 x 2.97 x 2.1 x 2.65 x 2.28 x 1.99 x
EV / EBITDA 306 x 45.9 x 38.7 x 26.9 x 19.1 x 15.7 x
EV / FCF 58.1 x -64.4 x -20.9 x -48.1 x -5,006 x 50.8 x
FCF Yield 1.72% -1.55% -4.79% -2.08% -0.02% 1.97%
Price to Book 7.31 x 4.65 x 5.4 x 7.93 x 9.79 x 16.7 x
Nbr of stocks (in thousands) 382,980 492,749 494,554 496,405 - -
Reference price 2 128.6 100.8 90.10 99.90 99.90 99.90
Announcement Date 5/26/21 5/30/22 5/17/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026
Net sales 1 8,412 4,945 14,903 20,543 24,468 30,782 37,608
EBITDA 1 - 149.9 965.4 1,115 2,410 3,669 4,754
EBIT 1 - -1,126 -1,370 -1,726 -843.7 -133.2 290.7
Operating Margin - -22.76% -9.2% -8.4% -3.45% -0.43% 0.77%
Earnings before Tax (EBT) 1 - -1,739 -2,352 -2,418 -1,923 -1,526 -489
Net income 1 - -1,739 -1,959 -2,212 -1,916 -1,337 -587
Net margin - -35.17% -13.15% -10.77% -7.83% -4.34% -1.56%
EPS 2 - -5.470 -4.940 -4.480 -3.867 -2.700 -2.450
Free Cash Flow 1 - 788.7 -686.9 -2,070 -1,348 -14 1,472
FCF margin - 15.95% -4.61% -10.08% -5.51% -0.05% 3.92%
FCF Conversion (EBITDA) - 526.28% - - - - 30.97%
FCF Conversion (Net income) - - - - - - -
Dividend per Share - - - - - - -
Announcement Date 11/25/20 5/26/21 5/30/22 5/17/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 1,632 1,961 1,497 2,454 2,799 3,998 4,892 5,248 5,263 5,140 6,108 5,088 5,744 5,814
EBITDA 1 -100.8 244.7 15.35 255.9 328.2 202.3 292.3 251.4 297.2 273.8 - 648 646.5 598.5
EBIT - - -313.3 -77.84 -15.79 -388.3 - - -379.1 - - - - -
Operating Margin - - -20.92% -3.17% -0.56% -9.71% - - -7.2% - - - - -
Earnings before Tax (EBT) - - -443.5 -202.3 -151.6 -815.4 - -550.6 -558.9 -799.6 - - - -
Net income 1 - - -443.5 -202.3 -151.6 -670.7 - -486.4 -504.2 -733.7 - -89 - -558
Net margin - - -29.62% -8.24% -5.42% -16.78% - -9.27% -9.58% -14.28% - -1.75% - -9.6%
EPS - - -1.160 -0.5300 -0.3900 -1.530 - - - - - - - -
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 2/10/22 5/26/21 8/13/21 11/12/21 1/24/22 5/30/22 8/12/22 11/11/22 2/8/23 5/17/23 8/7/23 - - -
1INR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - 15,187 20,498 25,146
Net Cash position 1 - 3,404 5,376 1,373 - - -
Leverage (Debt/EBITDA) - - - - 6.303 x 5.587 x 5.289 x
Free Cash Flow 1 - 789 -687 -2,070 -1,348 -14 1,473
ROE (net income / shareholders' equity) - -35% -33.3% -23.7% -26.4% -24% -20.5%
ROA (Net income/ Total Assets) - - - - -3.2% -1.3% -0.1%
Assets 1 - - - - 59,875 102,827 587,000
Book Value Per Share 2 - 17.60 21.70 16.70 12.60 10.20 6.000
Cash Flow per Share 2 - - 1.740 2.520 5.400 9.300 13.00
Capex 1 - 350 1,379 3,313 3,666 4,141 4,335
Capex / Sales - 7.08% 9.25% 16.13% 14.98% 13.45% 11.53%
Announcement Date 11/25/20 5/26/21 5/30/22 5/17/23 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
11
Last Close Price
99.9 INR
Average target price
131.1 INR
Spread / Average Target
+31.22%
Consensus
  1. Stock Market
  2. Equities
  3. RBA Stock
  4. Financials Restaurant Brands Asia Limited