Restaurant Brands International
Owns and franchises Burger King, Tim Hortons, Popeyes and Firehouse Subs across global markets.
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Profile
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
Categories
Key statistics
Year to date +15.4% · Average volume (30d) 2.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 10, 2026 | C.L. King | Target | $81 | $80 | |
| Aug 7, 2026 | Evercore ISI | Reiterate | Outperform | $88 | |
| Jul 15, 2026 | Morgan Stanley | Reiterate | Mixed | $77 | $79 |
| Jul 9, 2026 | Deutsche Bank | Reiterate | Buy | $86 | $85 |
| May 26, 2026 | Guggenheim | Reiterate | Buy | $74 | $85 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $1.04 | $1.07 | +2.9% | $2.52B | $2.52B | 0.0% | −2.11% |
| May 6, 2026Q1 FY26 | $0.83 | $0.86 | +3.9% | $2.24B | $2.26B | +0.9% | +2.51% |
| Feb 12, 2026Q4 FY25 | $0.95 | $0.96 | +1.4% | $2.41B | $2.47B | +2.3% | −0.32% |
| Oct 30, 2025Q3 FY25 | $1.00 | $1.03 | +3.2% | $2.39B | $2.45B | +2.4% | −1.97% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.11B | $2.41B | $2.45B | $2.47B | $2.26B | $2.52B | |
| Gross profit | $704.0M | $815.0M | $1.19B | $1.17B | $1.12B | $869.0M | |
| Operating income | $435.0M | $483.0M | $673.0M | $647.0M | $611.0M | $699.0M | |
| Net income | $159.0M | $189.0M | $315.0M | $113.0M | $338.0M | $507.0M | |
| Diluted EPS | $0.48 | $0.58 | $0.95 | $0.25 | $0.74 | $1.45 | |
| Gross margin | 33.4% | 33.8% | 48.4% | 47.5% | 49.6% | 34.5% | |
| Operating margin | 20.6% | 20.0% | 27.5% | 26.2% | 27.0% | 27.7% |
Fiscal years (4-quarter sums)FY21 $5.74B · FY22 $6.51B · FY23 $7.02B · FY24 $8.41B · FY25 $9.43B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.06B · Total debt $15.65B · Total assets $25.02B · Shareholders' equity $3.85B
Dividends
Raised for 10 straight years — most recently to $0.65 from $0.62 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 23, 2026 | Jun 23 | Jul 7 | $0.65 | |
| Mar 19, 2026 | Mar 19 | Apr 2 | $0.65 | raised from $0.62 |
| Dec 23, 2025 | Dec 23 | Jan 6 | $0.62 | |
| Sep 23, 2025 | Sep 23 | Oct 7 | $0.62 | |
| Jun 24, 2025 | Jun 24 | Jul 8 | $0.62 | |
| Mar 21, 2025 | Mar 21 | Apr 4 | $0.62 | raised from $0.58 |
| Dec 20, 2024 | Dec 20 | Jan 3 | $0.58 | |
| Sep 20, 2024 | Sep 20 | Oct 4 | $0.58 |
Ownership
Shares outstanding 346.97M · Float 298.26M · 86.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| 3G Restaurant Brands Holdings LP | 94.37M | 21.30% | 13D | Aug 12, 2026 |
| Capital World Investors | 43.86M | 12.64% | 13F | Aug 12, 2026 |
| Pershing Square Holdco, L.P. | 25.82M | 7.44% | 13F | Aug 14, 2026 |
| Royal Bank of Canada | 20.24M | 5.83% | 13F | Aug 14, 2026 |
| Edgepoint Investment Group Inc. | 17.17M | 4.95% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| 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 |
| Mar 16, 2026 | Jill Granat | officer: See Remarks | −25,000 | $74.76 |
Peers
- 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
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Restaurant Brands International | $78.50 | +0.29% | $27.15B | 23.1 | 18.5 | 2.8 | +4.6% |
| McDonald's | $265.11 | +0.04% | $188.28B | 21.5 | 20.0 | 6.8 | +3.7% |
| Yum! Brands | $153.86 | 0.00% | $42.41B | 19.3 | 22.6 | 4.9 | +12.2% |
| Starbucks | $108.15 | +0.30% | $122.95B | 62.0 | 36.0 | 3.2 | −1.4% |
| Wendy's | $8.22 | −0.48% | $1.58B | 12.5 | 16.2 | 0.7 | +1.7% |
| Wingstop | $113.85 | +0.18% | $3.09B | 27.0 | 23.8 | 4.3 | +6.4% |
| Median | 21.5 | 22.6 | 4.3 | +3.7% |