Restaurant Brands International Inc. (QSR) Stock Price & Analysis
Restaurant Brands International Inc. (QSR) closed at USD 76.41 on Thursday, October 22, 2026, up 3.05% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 74.15; the Oct 22, 2026 session ranged USD 74.87–76.48 on volume of 2,125,729 shares. Market capitalization is $35.00B, with a 52-week range of USD 64.52–81.96 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:22 UTC.
Also available as compact Markdown for AI agents: nexqual.com/QSR.md
Key facts (QSR)
- Last four reported quarters (through Jun 30, 2026): revenue $9.70B, net income $1.70B (17.5% margin), free cash flow $1.63B (SEC filings).
- Valuation: P/E 20.6x (avg 23.4x at the last 3 fiscal year-ends), EV/EBITDA 16.2x, net debt $12.2B.
- 3 of 80 tracked superinvestors hold QSR (13F, Q2 2026): 1 new, 0 added, 2 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $9.8M; 2 not under a Rule 10b5-1 plan ($9.8M); 0 by opportunistic insiders, 2 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.32 on a 1–5 scale) (28 analysts), mean target USD 85.92 (range 78–104).
- Total return with dividends: 1Y +17.4% vs S&P 500 +14.9%; 5Y +46.9% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 1.09, revenue estimate $2.54B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (QSR)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $5.74B | $6.50B | $7.02B | $8.41B | $9.43B | $9.70B |
| Gross profit | $3.85B | $4.19B | $4.59B | — | — | — |
| Operating income | $1.88B | $1.90B | $2.05B | $2.42B | $2.20B | $2.61B |
| Net income | $1.25B | $1.48B | $1.72B | $1.45B | $1.07B | $1.70B |
| EPS (diluted) | $2.69 | $3.25 | $3.76 | $3.18 | $2.35 | — |
| Free cash flow | $1.62B | $1.39B | $1.20B | $1.30B | $1.45B | $1.63B |
| Gross margin | 67.1% | 64.5% | 65.3% | — | — | — |
| Operating margin | 32.7% | 29.2% | 29.2% | 28.8% | 23.3% | 26.9% |
| Net margin | 21.8% | 22.8% | 24.5% | 17.2% | 11.4% | 17.5% |
| Revenue growth | +15.5% | +13.3% | +7.9% | +19.7% | +12.2% | — |
| Cash + short-term investments | $1.09B | $1.18B | $1.14B | $1.33B | $1.16B | — |
| Total debt | $13.0B | $12.9B | $12.9B | $13.6B | $13.3B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (QSR)
P/E 20.6x · P/S 3.6x · EV/EBITDA 16.2x · EV/Sales 4.9x · P/FCF 21.4x · P/B 9.1x · FCF yield 4.66% · Earnings yield 4.86% · Dividend yield (paid, TTM) 3.27% · Net debt $12.2B · EV $47.2B
P/E at fiscal year-ends: Dec 2025 29.0x, Dec 2024 20.5x, Dec 2023 20.7x.
Superinvestors (SEC 13F-HR, Q2 2026) (QSR)
3 of 80 tracked investors hold QSR. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Bill Ackman | Pershing Square | 9.62% | $1.87B | New position |
| Seth Klarman | Baupost Group | 9.04% | $490M | Reduced -16.4% |
| Christopher Davis | Davis Advisors | 0.87% | $203M | Reduced -22.2% |
Insider sales (SEC Form 4, open-market, last ~7 months) (QSR)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-04 | Schwan Axel | Pres., Tim Hortons US & Canada | 57,574 | $4.7M | 21.5% | No | Routine (sold in Jan & Dec each year 2023–2025; this trade is outside those months) |
| 2026-08-21 | Curtis Thomas Benjamin | Pres., BK US & CA | 64,000 | $5.2M | 62.6% | No | Routine (sold in Jan & Dec each year 2023–2025; this trade is outside those months) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (QSR)
Consensus Buy (mean 2.32 on a 1–5 scale), 28 analysts; mean target USD 85.92 (low 78, high 104).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Citigroup | Target lowered | Neutral | $80 → $79 |
| 2026-10-20 | Mizuho | Initiated | Outperform | $85 |
| 2026-10-15 | Morgan Stanley | Target raised | Equal-Weight | $79 → $82 |
| 2026-10-07 | TD Cowen | Target lowered | Hold | $80 → $78 |
| 2026-09-29 | JP Morgan | Target lowered | Overweight | $82 → $78 |
| 2026-09-25 | Argus Research | Downgrade | Buy → Hold | |
| 2026-09-18 | Guggenheim | Target raised | Buy | $85 → $86 |
| 2026-09-16 | Seaport Global | Initiated | Buy | $88 |
| 2026-09-01 | Citigroup | Target raised | Neutral | $78 → $80 |
| 2026-08-08 | Scotiabank | Target lowered | Sector Perform | $83 → $81 |
| 2026-08-07 | Piper Sandler | Target lowered | Overweight | $85 → $81 |
| 2026-08-07 | Evercore ISI Group | Target raised | Outperform | $86 → $88 |
Total return (dividends reinvested) (QSR)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +17.4% | +46.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +17.5% | +8.0% |
| Volatility (annualized) | 24.1% | 22.0% |
| Max drawdown | -14.1% (Aug 2026→Oct 2026) | -21.9% (Mar 2024→Jan 2025) |
QSR revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| TH | $1.14B | 45.1% | +5.0% |
| RH | $506.0M | 20.1% | +7.9% |
| BK | $342.0M | 13.6% | +1.2% |
| INTL | $274.0M | 10.9% | +9.6% |
| PLK | $199.0M | 7.9% | -5.2% |
| FHS | $62.0M | 2.5% | +5.1% |
| Total revenue | $2.52B | 100% | — |
QSR revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Franchise and property revenues | $793.0M | 31.5% | +4.3% |
| Royalty | $90.0M | 3.6% | +1.1% |
| Advertising revenues and other services | $76.0M | 3.0% | -2.6% |
| Franchisor | $8.0M | 0.3% | +14.3% |
| Total revenue | $2.52B | 100% | — |
QSR revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $1.20B | 47.5% | +2.7% |
| CANADA | $1.04B | 41.2% | +4.5% |
| Other | $286.0M | 11.3% | +13.0% |
| Total revenue | $2.52B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
QSR suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Canada | “Our fondant and fills manufacturing facility is the primary supplier of the ready-to-use glaze, fondants, fills, and syrups, which are used in baked goods, beverages, and other Tim Hortons products in Canada and the U.S.” |
| Partner | CPE Alder Investment | “On January 30, 2026, we closed our previously announced joint venture with CPE Alder Investment Limited, a fund managed by CPE ("CPE"), with respect to the operations of Burger King China (such joint venture, the "Burger King China JV").” |
| Partner | Carrols Restaurant Group | “Similarly, while we expect over time to find new franchisees for the former Carrols restaurants and partners for PLK China and FHS Brazil, we may be unable to source and onboard experienced local partners in the expected time frames.” |
Quoted from the company's 10-K filed Feb 20, 2026.
QSR analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $1.09 | $1.09 | -0.2% | $2.54B | 23 |
| Next quarter (ends Dec 2026) | $1.05 | $1.06 | -0.8% | $2.53B | 23 |
| Current fiscal year (ends Dec 2026) | $4.07 | $4.05 | +0.3% | $9.86B | 26 |
| Next fiscal year (ends Dec 2027) | $4.43 | $4.41 | +0.3% | $9.89B | 26 |
Key Statistics (as of October 23, 2026 at 09:22 UTC)
| Price | USD 76.41 |
|---|---|
| Change | ▲ 3.05% (up) |
| Previous Close | USD 74.15 |
| Open | USD 75.11 |
| Day Range | USD 74.87 – 76.48 |
| 52-Week Range | USD 64.52 – 81.96 |
| Volume | 2,125,729 shares |
| Market Cap | $35.00B |
| Exchange | NYQ |
Technical Analysis (QSR)
Nexqual's technical model rates QSR "BUY" based on 5 bullish and 2 bearish signals across 127 daily candles, as of October 23, 2026 at 09:22 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 58.69 (neutral) |
| vs SMA50 | Above (USD 75.02) |
| MACD | 0.3 (positive) |
Analyst Ratings (QSR)
Wall Street analysts rate QSR "Buy" based on 28 analysts, with a mean price target of USD 85.92 (range USD 78–104), per Nexqual as of October 23, 2026 at 09:22 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 28 |
| Mean Target | USD 85.92 |
| High Target | USD 104 |
| Low Target | USD 78 |
| Buy / Hold / Sell | 18 / 9 / 1 |
Earnings (QSR)
| Next Earnings Date | 2026-10-29 |
|---|---|
| EPS Estimate | USD 1.09 |
| Revenue Estimate | $2.54B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 1.07 vs est 1.04 ▲ beat |
| 2026-03-31 | USD 0.86 vs est 0.83 ▲ beat |
| 2025-12-31 | USD 0.96 vs est 0.95 ▲ beat |
| 2025-09-30 | USD 1.03 vs est 1 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:22 UTC.
Financials & Fundamentals (QSR)
| Total Revenue | $9.70B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +4.60% |
| Gross Margin | +34.09% |
| Operating Margin | +27.74% |
| Profit Margin | +13.13% |
| ROE | +34.79% |
| Debt / Equity | 2.9 |
| Current Ratio | 1.01 |
| Total Cash | $1.10B |
| Total Debt | $15.65B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $1.63B (16.8% of revenue) |
Source: Nexqual, October 23, 2026 at 09:22 UTC.
Financial Health Score (QSR)
Nexqual rates Restaurant Brands International Inc.'s overall financial health "Solid" across five dimensions, as of October 23, 2026 at 09:22 UTC.
| Growth | Solid — Revenue +12% YoY (annual) |
|---|---|
| Profitability | Solid — Gross margin 34%, operating 28% (last 12 months) |
| Balance Sheet | Weak — $1.06B cash and investments vs $13.3B debt (Jun 2026, SEC) |
| Cash Flow | Strong — FCF $1.63B (last 4 quarters to Jun 2026, SEC), 17% margin |
| Efficiency | Strong — ROE 35%, ROA 6.4% |
Ownership (QSR)
| Insider Ownership | +1.28% |
|---|---|
| Institutional Ownership | +97.22% |
| Shares Outstanding | 348.76M |
| Float | 317.59M |
| Short % of Float | +6.12% |
Source: Nexqual, October 23, 2026 at 09:22 UTC.
Leadership (QSR)
Restaurant Brands International Inc. is led by Joshua Kobza, Chief Executive Officer, per Nexqual as of October 23, 2026 at 09:22 UTC.
| Chief Executive Officer | Joshua Kobza |
|---|---|
| Executive Chairman | J. Patrick Doyle |
| Chief Financial Officer | Sami A. Siddiqui |
| President of Tim Hortons - Canada & U.S. | Axel Schwan |
| President of Burger King U.S. & Canada | Thomas Benjamin Curtis |
Major Backers & Investors (QSR)
Notable institutional backers of Restaurant Brands International Inc. include Capital Group, Pershing Square, Royal Bank of Canada, according to Nexqual as of October 23, 2026 at 09:22 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Capital Group | 12.58% |
| Pershing Square | 7.4% |
| Royal Bank of Canada | 5.8% |
| Edgepoint Investment Group Inc. | 4.92% |
| Bank of Montreal /CAN/ | 3.24% |
| NEW PERSPECTIVE FUND | 3.23% |
| AMERICAN FUNDS FUNDAMENTAL INVESTORS | 2.9% |
| FMR, LLC | 2.41% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 4.37% |
| Vanguard Group | 3.01% |
Source: Nexqual, October 23, 2026 at 09:22 UTC.
From Restaurant Brands International Inc.'s Latest SEC 10-K Filing (filed 2026-02-20)
Key Strengths & Strategy (as disclosed to the SEC)
- If these agreements were terminated, we would be obligated to pay approximately $156 million as of December 31, 2025, based on an amount per gallon of soft drink syrup remaining in the purchase commitments, including interest, and certain other costs. •FHS U.S. and Canada.
- Enhancing capabilities such as loyalty programs and digital ordering platforms including kiosks, allows us to provide more seamless and personalized interactions with guests. ◦We are committed to increasing convenience for our guests by expanding our global footprint through accelerated net restaurant growth, renovating existing restaurants, and strengthening drive-thru and delivery channels.
- Our restaurants utilize point-of-sale software from approved third-party vendors that allows us to assess how our new and existing products are performing around the world.
- In the U.S., Canada, and several international markets, we have deployed an architecture that enables us to build custom guest-facing applications and integrate them with our third-party providers to support mobile ordering, web ordering, and kiosks.
Partnerships
- In connection with the closing of the Burger King China JV, we entered into a master franchise agreement with the joint venture, with royalties initially at a lower rate that will step to the full historical rate over time.
Legal & Regulatory Risks (Item 1A, quoted)
- Changes in regulations may adversely affect restaurant operations and our financial results.
- Our effective tax rate, cash taxes, and financial results could be adversely impacted by changes in applicable tax laws (including regulatory, administrative, and judicial interpretations and guidance relating to such laws) in the jurisdictions in which we operate.
- We have been, and in the future may be, subject to litigation that could have an adverse effect on our business.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| CMG | Chipotle Mexican Grill, Inc. | USD 28.14 | ▲ 0.07% |
| YUM | Yum! Brands, Inc. | USD 154.45 | ▲ 2.12% |
| DRI | Darden Restaurants, Inc. | USD 217.56 | ▲ 1.42% |
| YUMC | Yum China Holdings, Inc. | USD 44.76 | ▲ 0.67% |
| TXRH | Texas Roadhouse, Inc. | USD 172.78 | ▲ 2.96% |
| SBUX | Starbucks Corporation | USD 101.91 | ▲ 2.86% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:22 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt