Restaurant Brands International (QSR)
Owns and franchises Burger King, Tim Hortons, Popeyes and Firehouse Subs across global markets.
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Owns four quick-service restaurant brands spanning hamburgers, coffee, chicken and sandwiches, with Burger King accounting for the largest system footprint. Revenue comes mainly from franchise royalties, property, advertising and supply-chain activity, while company-run restaurants are held largely for operational improvement and refranchising.
Owns Tim Hortons, Burger King, Popeyes and Firehouse Subs, four separately positioned quick-service brands spanning coffee and breakfast, hamburgers, fried chicken and sandwiches. Restaurants operate across global markets, with named brand segments covering the United States and Canada and International covering markets elsewhere.
Earns mainly through franchise royalties and fees, rent, advertising and service contributions, supply-chain sales and digital technology fees. Shared ownership coordinates independent brands and local operators while preserving concept-specific menus and market positioning.
Most restaurants depend on franchisees and local partners to fund and run daily operations. Restaurant Holdings temporarily contains acquired company-operated locations being improved for later refranchising or new partners, leaving operator economics, brand standards and partner alignment as structural dependencies.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 18, 2026 | Guggenheim | Reiterate | Rating: —Target: $85 | Target: $86 |
| Sep 15, 2026 | Seaport Global | Initiate | Rating: —Target: — | Target: $88 |
| Aug 10, 2026 | C.L. King | Target | Target: $81 | Target: $80 |
| Aug 7, 2026 | Evercore ISI | Reiterate | Rating: —Target: — | Target: $88 |
| Jul 15, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $77 | Target: $79 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.06B · Total debt $15.65B · Total assets $25.02B · Shareholders' equity $3.85B
- Revenue
- $2.52B
- Operating income
- $699.0M
- Net income
- $507.0M
HistoryDividendAnnual yield
| Institutions | ≈ 70.01% | 319.49M shares | |
|---|---|---|---|
| 620 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.60% | 2.73M shares | |
| 21 holders · as of Sep 9, 2026 | |||
| Other | ≈ 29.39% | 134.12M shares | |
| remainder | |||
456.34M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (456.34M in the company's Sep 22, 2026 report, 346.97M elsewhere); stakes use the report.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Capital World InvestorsInstitution | 9.61% | 43.86M | as of Jun 30, 2026 |
Pershing Square Holdco, L.P.Institution | 5.66% | 25.82M | as of Jun 30, 2026 |
Royal Bank of CanadaInstitution | 4.43% | 20.24M | as of Jun 30, 2026 |
Edgepoint Investment Group Inc.Institution | 3.76% | 17.17M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 3.34% | 15.23M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 4, 2026 | Axel Schwan | officer: Pres., Tim Hortons US & Canada | −57,574 | $81.14 |
| Aug 21, 2026 | Thomas Benjamin Curtis | officer: Pres., BK US & CA | −64,000 | $80.72 |
| Mar 20, 2026 | Jeffrey Housman | officer: See Remarks | −20,000 | $73.48 |
| Mar 17, 2026 | Thiago T. Santelmo | officer: President, International | −10,000 | $75.41 |
| Mar 18, 2026 | Jill Granat | officer: See Remarks | −25,000 | $75.09 |
- McDonald's
Largest global overlap across burgers, breakfast, coffee, and chicken
- Yum! Brands
KFC and Habit span chicken and burger battlefields
- Starbucks
Specialty coffee and food overlap with Tim Hortons across key markets
- Wendy's
Direct burger-chain overlap plus chicken and breakfast
- Wingstop
Chicken-focused overlap in wings, tenders, and sandwiches
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Restaurant Brands International | $73.03 | +0.64% | $25.17B | 21.4 | 17.2 | 2.6 | +4.6% |
| McDonald's | $251.87 | +1.61% | $176.12B | 20.1 | 19.0 | 6.4 | +3.7% |
| Yum! Brands | $140.47 | +0.82% | $38.42B | 17.5 | 20.9 | 4.4 | +12.2% |
| Starbucks | $95.64 | +0.78% | $108.19B | 54.5 | 32.0 | 2.8 | −1.4% |
| Wendy's | $6.86 | +2.39% | $1.28B | 10.2 | 14.0 | 0.6 | +1.7% |
| Wingstop | $107.19 | −0.13% | $2.92B | 25.5 | 22.6 | 4.1 | +6.4% |
| Median | 20.1 | 20.9 | 4.1 | +3.7% |