On Thursday 11th February, Restaurant Brands International (QSR) reported on financial results for Q4 and FY 2020 ending December 31st 2020.

For the 4th quarter 2020, net earnings were $139 million on revenue of $1,358 million with an EPS of $0.30. Comparable values for Q4 of FY 2019 were net earnings of $257 million on revenue of $1,479 million with an EPS of $0.54. 

For the FY 2020, net earnings were $750 million on revenue of $4,968 million with an EPS of $1.60. Comparable values for FY 2019 were net earnings of $1,111 million on revenue of $5,603 million with an EPS of $2.37. 

Segment Q4 EBITDA and revenue ($ millions) were:-

     Tim Horton’s                    $229  on  $782

     Burger King                      $ 218 on  $434

     Popeye’s LA Kitchen        $54   on   $142

Segment comparative same-store sales growth values for Q4 2020 compared to Q4 2019 were:-

      Tim Horton’s, -11%; Burger King, -7.9%; Popeye’s, -5.8%; Consolidated, -8.6%. 

In commenting on Q4 performance, Jose Cil, CEO stated, "we are confident that our efforts in food and beverage quality, restaurant experience, digital leadership and brand building will be beneficial to returning our business to the growth we know we are capable of in all three brands. While we ended 2020 with about the same restaurant count as 2019, we have been working closely with our network of franchisees on restarting the development engine and expect to deliver net restaurant growth roughly in line with what we delivered in 2018 and 2019. Strong results in 2021 will help pave the way toward our aspiration of achieving 40,000 restaurants in the coming years."

Cil opined, "driving rapid digital innovation has been essential to the recovery of our business. We increased support for and continued to build on our E-commerce platforms, reimagined service opportunities like curbside pickup and expanded delivery services into thousands of new restaurants. The outcome has been the more than doubling of digital sales in North America." 

SQF has a market capitalization of $17.92 billion against long-term debt and lease obligations of $13,80 billion. Total assets as of December 31st 2020 were $22.78 billion of which 72 percent comprised goodwill and intangibles. QSR has traded over the past 52 weeks over a range of $25.08 to $67.30 with a 50-day moving average of $60.70.

The Company has posted a trailing 12-month (ttm) operating margin of 33.6 percent and a profit margin of 11.0 percent. The Return on assets was 4.8 percent and 21.8 percent on equity.