Burger King (BKC)

By Steve Gelsi, MarketWatch

Last Updated: 10:02 AM ET May 15, 2006

NEW YORK (MarketWatch) -- Francis Gaskins of IPO Desktop has graded Burger King's initial public offering as a C+. He said the company's price-to-earnings ratio is 14, based on the midpoint of its IPO price range. McDonald's (MCD: News, Quote) , by contrast, carries a P/E ratio of 16.6 and Tim Hortons (THI: News, Quote) currently trades at about 30.
Gaskins was lukewarm at best on the offering, however, calling the IPO, "yet another leveraged buy-out going public (again), with a disabled balance sheet."

Copyright (c) 2006 Thomson Financial. All rights reserved.