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Restaurant Brands Asia Limited
(RBA)
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Rating:51Neutral
Price Target:
₹91.00
▲(39.72% Upside)
Action:Reiterated
Date:08/19/26
The score is held back primarily by weak financial performance—ongoing net losses, elevated leverage, and negative 2026 free cash flow—despite strong revenue growth and improving operating margins. Technicals are supportive with strong momentum, but overbought signals temper that benefit. Valuation is constrained by a negative P/E and lack of dividend yield.
Positive Factors
Strong Revenue Scaling
The substantial multi-year revenue increase indicates that RBA is expanding its restaurant network, customer reach, or sales productivity. Continued top-line scaling can strengthen operating leverage and brand presence, creating a durable foundation for future earnings improvement if profitability catches up.
Negative Factors
Persistent Net Losses
RBA has not yet converted its strong revenue growth and improving EBITDA margin into consistent net profitability. Persistent losses weaken internal capital generation, can increase reliance on external funding, and leave the company more exposed if operating improvements fail to continue.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Scaling
The substantial multi-year revenue increase indicates that RBA is expanding its restaurant network, customer reach, or sales productivity. Continued top-line scaling can strengthen operating leverage and brand presence, creating a durable foundation for future earnings improvement if profitability catches up.
Read all positive factors
Restaurant Brands Asia Limited (RBA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹65.60B
Dividend YieldN/A
Average Volume (3M)159.15K
Price to Earnings (P/E)―
Beta (1Y)0.80
Revenue Growth13.29%
EPS Growth24.69%
CountryIN
Employees10,620
SectorGeneral
Sector StrengthN/A
IndustryRestaurants
Share Statistics
EPS (TTM)-2.94
Shares Outstanding712,078,300
10 Day Avg. Volume97,047
30 Day Avg. Volume159,151
Financial Highlights & Ratios
PEG Ratio0.68
Price to Book (P/B)4.66
Price to Sales (P/S)1.19
P/FCF Ratio-37.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-1.27
Revenue Forecast (FY)₹32.60B
Restaurant Brands Asia Limited Business Overview & Revenue Model
Company Description
Restaurant Brands Asia Limited, along with its subsidiaries, operates a network of quick-service restaurants throughout India and Indonesia. The company is responsible for the development, establishment, management, and franchising of Burger King ...
How the Company Makes Money
RBA makes money primarily by selling food and beverages to customers through its Burger King restaurants and associated channels. Its core revenue stream is restaurant sales (e.g., burgers, sides, desserts, and drinks) across multiple order modes:...
Restaurant Brands Asia Limited Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
34
Negative
Cash Flow
41
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 29.48B | 28.23B | 25.51B | 24.37B | 20.54B | 14.86B |
| Gross Profit | 10.91B | 10.07B | 5.76B | 10.64B | 4.24B | 6.37B |
| EBITDA | 3.72B | 3.28B | 1.07B | 2.61B | 1.47B | 937.88M |
| Net Income | -1.73B | -1.87B | -2.16B | -2.18B | -2.21B | -1.96B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 33.82B | 34.63B | 27.09B | 24.93B | 23.82B |
| Cash, Cash Equivalents and Short-Term Investments | 1.93B | 1.97B | 5.60B | 1.16B | 3.02B | 6.78B |
| Total Debt | 0.00 | 19.67B | 18.32B | 14.30B | 11.68B | 8.87B |
| Total Liabilities | -6.89B | 26.94B | 25.68B | 20.80B | 16.47B | 13.14B |
| Stockholders Equity | 6.89B | 7.21B | 9.09B | 6.27B | 8.25B | 10.41B |
Cash Flow | ||||||
| Free Cash Flow | -182.68M | -893.16M | 848.38M | 639.49M | -2.28B | -686.92M |
| Operating Cash Flow | 1.60B | 2.83B | 3.50B | 3.46B | 1.24B | 691.65M |
| Investing Cash Flow | -4.53B | -4.94B | -2.12B | -2.12B | 129.41M | -10.78B |
| Financing Cash Flow | -2.25B | -3.01B | 3.85B | -2.51B | -1.70B | 11.12B |
Restaurant Brands Asia Limited Technical Analysis
Positive
65.13
Price Trends
91.92
Positive
81.35
Positive
72.56
Positive
Market Momentum
-0.70
Positive
45.32
Neutral
28.57
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RBA, the sentiment is Positive. The current price of 65.13 is below the 20-day moving average (MA) of 94.93, below the 50-day MA of 91.92, and below the 200-day MA of 72.56, indicating a neutral trend. The MACD of -0.70 indicates Positive momentum. The RSI at 45.32 is Neutral, neither overbought nor oversold. The STOCH value of 28.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:RBA.
Restaurant Brands Asia Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹6.27B | 3.57 | ― | ― | 4.53% | ― | |
57 Neutral | ₹292.97B | 66.98 | ― | 0.27% | 16.26% | 75.87% | |
56 Neutral | ₹156.58B | -567.10 | ― | ― | 14.72% | -133.37% | |
56 Neutral | ₹67.49B | -418.08 | ― | ― | 10.17% | -283.44% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹91.89B | 287.70 | ― | 0.07% | 6.76% | 212.75% | |
51 Neutral | ₹65.60B | -31.29 | ― | ― | 13.29% | 24.69% |
* General Sector Average
IN:RBA
Restaurant Brands Asia Limited
92.12
13.17
16.68%
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Restaurant Brands Asia Limited Corporate Events
Restaurant Brands Asia files FY26 business responsibility and sustainability report
Jul 28, 2026
Restaurant Brands Asia Limited has submitted its Business Responsibility and Sustainability Report for the financial year 2025-26, in compliance with SEBI’s Listing Obligations and Disclosure Requirements. The report, prepared on a standalon...
Agrawal-Linked Entities Acquire 9.22% Stake in Restaurant Brands Asia via Off-Market Deal
Jul 10, 2026
Restaurant Brands Asia Limited has disclosed an off-market acquisition of its shares by a group of investors tied to Aayush Madhusudan Agrawal. Lenexis Foodworks Private Limited, Aayush Agrawal Trust, Inspira Foodworks Private Limited and Aayush M...
Restaurant Brands Asia Sees New Promoters and Board Reshuffle
Jul 7, 2026
Restaurant Brands Asia Limited has completed a significant change in ownership and control, with Lenexis Foodworks, the Aayush Agrawal Trust, Inspira Foodworks and Aayush Madhusudan Agrawal collectively becoming the new promoters. This follows a l...
Inspira Global Takes Control of Restaurant Brands Asia in Major QSR Deal
Jul 7, 2026
Inspira Global, via its food and beverage platform Lenexis Foodworks, has completed the acquisition of control in Restaurant Brands Asia Limited, the operator of Burger King in India and Burger King and Popeyes in Indonesia, after concluding a man...
Restaurant Brands Asia sees change of control and board reshuffle
Jul 7, 2026
Restaurant Brands Asia has completed a major change in its ownership and promoter structure, with Lenexis Foodworks, entities linked to Aayush Agrawal, and Inspira Foodworks acquiring a significant stake from QSR Asia and FB Asia Ventures. The acq...
Restaurant Brands Asia Announces New Promoter Group After Change in Control
Jul 7, 2026
Restaurant Brands Asia Limited has announced a change in its promoter structure following a series of transactions, including a preferential issue of equity shares and warrants to Lenexis Foodworks, Aayush Agrawal Trust, Inspira Foodworks and Aayu...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.