Restaurant Brands International (QSR) - What’s going on with this company and stock?

$Restaurant Brands International (QSR.US)$ For anyone unfamiliar: QSR is the holding company of Burger King, Tim Hortons, and Popeye’s.

QSR has taken an absolute beating since early May, dropping from a high of 71 to a low of 56 (it’s at 57 now). In its last earnings report, it beat EPS estimates by only a penny and tanked.

The technicals say it’s sitting at support right now, which means a bounce could be coming. Gurufocus has it charted as undervalued with future prospects pretty positive. However, the fundamentals make me nervous: only $1.45 billion in FCF but nearly $11 billion in net debt. Is it because it’s climbing out of COVID slower than expected? Then again, as a fast food holding company, it shouldn’t have been hit as hard by COVID compared with dine-in restaurants, shouldn’t it?