Restaurant Brands International Inc. (QSR) stock — is it a good business?

Restaurant Brands International Inc. (QSR) stock — is it a good business? — InspectStocks

Just reported

Q3 2026 results

From Restaurant Brands International's results release of October 29, 2026; its quarterly report has since been filed.

Revenue
Actual
$2.53B
+3.1% y/y
+0.2% q/q
Guided
—
No guide given
EPS, GAAP
Actual
$1.54
+60% y/y
+6.2% q/q
Guided
—
No guide given
Operating income, GAAP
Actual
$696M
+5.0% y/y
-2.8% q/q
Guided
—
No guide given

Set against the company's own guidance and the same quarter a year earlier, not analysts' estimates, which we do not hold. Adjusted figures are the company's own non-GAAP measures, as stated in the release.

The full earnings report →

How it makes money

Tim Hortons restaurants in the United States and Canada44%
Restaurant Holdings locations19%
Burger King restaurants in the United States and Canada16%
International restaurants10%
Popeyes restaurants in the United States and Canada8%
Firehouse Subs restaurants in the United States and Canada2%

Shares of revenue are estimates for year ended December 31, 2025, not figures from a filing.

Competes with

What it sells4

Tim Hortons
Coffee, specialty hot and cold drinks, baked goods, and meals such as sandwiches, wraps and flatbread pizzas.
Burger King
Flame-grilled hamburgers, chicken and other sandwiches, including the Whopper.
Popeyes
Louisiana-style fried chicken, chicken tenders, chicken sandwiches, wings and regional menu items.
Firehouse Subs
Hot subs filled with steamed meats and cheese, along with chili, soups and sides.

Who buys it3

Restaurant franchisees pay royalties and fees for the right to run restaurants under the company’s brands.
Franchisees and local master franchise partners make advertising contributions and, in some cases, pay rent for restaurant properties.
Tim Hortons franchisees in Canada and the United States buy coffee and other restaurant supplies from the company; diners buy meals and drinks at franchised and company-run restaurants.

What it stands on, and what could break it

What the business leans on

1Restaurant sales and much of the company’s income depend on independent franchisees, who operate more than 95% of its restaurants and employ their own restaurant staff.
2Tim Hortons relies on supplies of high-quality coffee beans; the company roasts much of its coffee and runs parts of its Canadian distribution network.
3Burger King, Popeyes and Firehouse Subs rely on approved outside suppliers and distributors; a handful of distributors serve most of the United States restaurants for some brands.
4Burger King has commitments to buy specified volumes of soft-drink syrup from The Coca-Cola Company and Dr Pepper.

What could go wrong

1Because franchisees run most restaurants independently, their ability to fund and operate locations, follow brand standards and serve guests affects restaurant sales and the company’s franchise income.
2Coffee, meat and other food costs can fluctuate, and shortages or delivery interruptions can affect restaurant operations, company supply-chain sales and franchisees’ costs.
3Customers can shift their dining spending among restaurant chains, local operators, grocery and convenience stores, and delivery choices; weak marketing, menu appeal or service can reduce visits and sales.

Full financial statements →

About Restaurant Brands International Inc.

It owns Tim Hortons, Burger King, Popeyes and Firehouse Subs. It earns money from franchise royalties and fees, property rent, advertising contributions, and some restaurant and supply-chain sales. At September 30, 2026, it had 33,401 restaurants (September 30, 2026, high), and more than 95% were franchised (September 30, 2026, high).

Head office: Miami, Florida
Founded: 2014
Employees: approximately 53,500 (December 31, 2025, high)
Listed on: NYSE
Financial year ends: December 31

Built from Restaurant Brands International Inc.’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.

Just reported

Q3 2026 results

From Restaurant Brands International's results release of October 29, 2026; its quarterly report has since been filed.

Revenue
Actual
$2.53B
+3.1% y/y
+0.2% q/q
Guided
—
No guide given
EPS, GAAP
Actual
$1.54
+60% y/y
+6.2% q/q
Guided
—
No guide given
Operating income, GAAP
Actual
$696M
+5.0% y/y
-2.8% q/q
Guided
—
No guide given

The full earnings report →

Keep exploring

The themes Restaurant Brands International is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.

The theme it is part of

Highest-graded in Restaurants

Graded A or B and worth $2B or more: A first, then the largest.

Grade rose recently in Consumer Discretionary

Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.

How it makes money

Tim Hortons restaurants in the United States and Canada44%
Restaurant Holdings locations19%
Burger King restaurants in the United States and Canada16%
International restaurants10%
Popeyes restaurants in the United States and Canada8%
Firehouse Subs restaurants in the United States and Canada2%

Shares of revenue are estimates for year ended December 31, 2025, not figures from a filing.

Competes with

What it sells4

Tim Hortons
Coffee, specialty hot and cold drinks, baked goods, and meals such as sandwiches, wraps and flatbread pizzas.
Burger King
Flame-grilled hamburgers, chicken and other sandwiches, including the Whopper.
Popeyes
Louisiana-style fried chicken, chicken tenders, chicken sandwiches, wings and regional menu items.
Firehouse Subs
Hot subs filled with steamed meats and cheese, along with chili, soups and sides.

Who buys it3

Restaurant franchisees pay royalties and fees for the right to run restaurants under the company’s brands.
Franchisees and local master franchise partners make advertising contributions and, in some cases, pay rent for restaurant properties.
Tim Hortons franchisees in Canada and the United States buy coffee and other restaurant supplies from the company; diners buy meals and drinks at franchised and company-run restaurants.

What it stands on, and what could break it

What the business leans on

1Restaurant sales and much of the company’s income depend on independent franchisees, who operate more than 95% of its restaurants and employ their own restaurant staff.
2Tim Hortons relies on supplies of high-quality coffee beans; the company roasts much of its coffee and runs parts of its Canadian distribution network.
3Burger King, Popeyes and Firehouse Subs rely on approved outside suppliers and distributors; a handful of distributors serve most of the United States restaurants for some brands.
4Burger King has commitments to buy specified volumes of soft-drink syrup from The Coca-Cola Company and Dr Pepper.

What could go wrong

1Because franchisees run most restaurants independently, their ability to fund and operate locations, follow brand standards and serve guests affects restaurant sales and the company’s franchise income.
2Coffee, meat and other food costs can fluctuate, and shortages or delivery interruptions can affect restaurant operations, company supply-chain sales and franchisees’ costs.
3Customers can shift their dining spending among restaurant chains, local operators, grocery and convenience stores, and delivery choices; weak marketing, menu appeal or service can reduce visits and sales.

Full financial statements →

About Restaurant Brands International Inc.

Head office: Miami, Florida
Founded: 2014
Employees: approximately 53,500 (December 31, 2025, high)
Listed on: NYSE
Financial year ends: December 31

Q3 2026 results

Revenue

EPS, GAAP

Operating income, GAAP

How it makes money

Competes with

What it sells4

Who buys it3

What it stands on, and what could break it

What the business leans on

What could go wrong

About Restaurant Brands International Inc.

Q3 2026 results

Revenue

EPS, GAAP

Operating income, GAAP

Keep exploring

The theme it is part of

Highest-graded in Restaurants

Grade rose recently in Consumer Discretionary

How it makes money

Competes with

What it sells4

Who buys it3

What it stands on, and what could break it

What the business leans on

What could go wrong

About Restaurant Brands International Inc.

Restaurant Brands International Inc.

Keep exploring

The theme it is part of

Highest-graded in Restaurants

Grade rose recently in Consumer Discretionary

Restaurants

Growth & cash — 5 of 5

Business trend

Share price and grade over time

Q3 2026 results

Revenue

EPS, GAAP

Operating income, GAAP

How it makes money

Competes with

What it sells4

Who buys it3

What it stands on, and what could break it

What the business leans on

What could go wrong

About Restaurant Brands International Inc.

Q3 2026 results

Revenue

EPS, GAAP

Operating income, GAAP

Keep exploring

The theme it is part of

Highest-graded in Restaurants

Grade rose recently in Consumer Discretionary

How it makes money

Competes with

What it sells4

Who buys it3

What it stands on, and what could break it

What the business leans on

What could go wrong

About Restaurant Brands International Inc.

Restaurant Brands International Inc.

Past performance

Keep exploring

The theme it is part of

Highest-graded in Restaurants

Grade rose recently in Consumer Discretionary

Restaurants

Growth & cash — 5 of 5

Business trend

Share price and grade over time