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QSRRestaurant Brands International Inc.
$71.66$24.9B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
QSR logo

Restaurant Brands International Inc.

QSR
NYSE · Restaurants
$71.66
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$24.86B
P/E30.5x
52W High$81.96
Volume2.25M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Volatile Margins and High Leverage Obscure Franchise Model Strength

Restaurant Brands International presents a mixed outlook: its capital-light franchise model and recent revenue growth, reaching $2.5B in 2026Q2, are undermined by extreme earnings volatility and a structurally strained balance sheet. The company's strategic pr...

GrowthDecelerating
ProfitabilityModerate
ValuationExpensive
TechnicalsWeak
Explore valuation models
MARKET ACTION

QSR price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

7/12 Beats

EPS beat 7 of last 12 quarters

02

Valuation risk

+36% Peers

P/E is 36% above peer median

03

Market leadership

RS 50 · Avg

Average momentum (RS Rating: 50)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Nov 6
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Gross margin volatility is a key concern, swinging from 49.6% in 2026Q1 to 34.5% in 2026Q2, indicating significant exposure to commodity costs and promotional activity.

Analyst Consensus+18.3% target
Buy(44 analysts)
27 Buy15 Hold2 Sell

The Bull Case

Upside Catalysts

Quality business model

QSR is described as a high-quality business that would be ideal if designed in a laboratory, with academic research showing such stocks outperform by 4-6% annually over long periods.

Strong momentum

The stock has a momentum score of 68/100, indicating recognized market performance, and momentum trends tend to persist.

Investor confidence

Piper Sandler notes that discussions at QSR's investor day event suggest the stock is poised for a period of outperformance.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
QSR+8.55%
S&P 500 (^GSPC)+12.39%
1-Year Return
QSR+16.68%
S&P 500 (^GSPC)+15.77%
3-Year Return
QSR+17.36%
S&P 500 (^GSPC)+78.39%
5-Year Return
QSR+32.43%
S&P 500 (^GSPC)+72.55%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
30.5x
Forward P/EExpansion
17.6x
EV/EBITDA20th %ile
16.8x
FCF YieldCash Flow
5.8%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
30.5x
20.8x
100th· High
EV/EBITDA
16.8x
20.0x
20th· Low
Price/FCF
17.2x
21.5x
0th· Low
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$68.77-4.0%
Base (Fair)$160.06+119.6%
Bull$234.69+227.5%
$68.77 Bear$160.06 Base$234.69 Bull
Current Market Price: $71.66
Trades at a 55.2% discount to Base DCF ($160.06)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$9.43B+12.2% YoY
Net income
$776M-24.0% YoY
Free cash flow
$1.45B+11.3% YoY
Operating margin
23.7%-5.1 pts YoY
ROIC (TTM)8.2%
Avg ROIC 5Y-
ROE (TTM)15.5%
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate7/12 (58%)
Revenue Beat Rate7/12 (58%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 6, 2026
$1.07+2.9%
vs $1.04
$2.5B-0.0%
vs $2.5B
Q2 2026
May 6, 2026
$0.86+3.9%
vs $0.83
$2.3B+0.9%
vs $2.2B
Q1 2026
Feb 12, 2026
$0.96+1.4%
vs $0.95
$2.5B+2.3%
vs $2.4B
Q4 2025
Oct 30, 2025
$1.03+3.2%
vs $1.00
$2.4B+2.4%
vs $2.4B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Newsfile Corp·1d ago
Happy Belly Food Group's Heal Wellness QSR Signs First Franchise Agreement in Province of New Brunswick

Toronto, Ontario--(Newsfile Corp. - September 22, 2026) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging restaurant brands, is pleased to announce that its Heal Wellness brand ("Heal") has signed a franchise agreement for Moncton, New Brunswick, with an experienced multi-unit quick-service restaurant ("QSR") operator, marking the brand's first franchise agreement in the province. This milestone continues Heal's expansion across Atlantic Canada.

Zacks Investment Research·2d ago
McDonald's vs. Restaurant Brands: Which Stock Is the Better Buy?

QSR's stronger earnings growth, Burger King momentum and discounted valuation contrast with MCD's digital strengths and U.S. execution challenges.

Seeking Alpha·2d ago
Yum! Brands: A Compelling Opportunity In The QSR Space

Yum! Brands has more than 40,000 restaurants worldwide. The KFC and Taco Bell brands each account for roughly 40% of companywide sales, making them both very important. Yum! Brands has increased its dividend for nine consecutive years. Its five-year dividend growth rate is 8.6%, which is very solid and easily exceeds inflation. Yum! Brands has a decent financial position. The long-term debt/equity ratio is N/A due to negative common equity (stemming from the buybacks), but the interest coverage ratio is approximately 5.

Fast Company·5d ago
National Cheeseburger Day freebies and deals: McDonald's, Five Guys, Burger King, more. See the full list

When thinking of American food, cheeseburgers naturally come to mind. But are they truly a product of the United States?

Filtered for Restaurant Brands International Inc.More Headlines
04

Compare before deciding

Benchmark QSR against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Restaurant Brands International Inc. (QSR)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
QSR logoQSRRestaurant Brands International Inc.Current
$71.66$24.86B30.4912.23%8.23%15.52%3.38%
MCD logoMCDMcDonald's Corporation
$238.32$169.33B19.943.72%31.72%——
YUM logoYUMYum! Brands, Inc.
$140.69$38.78B25.308.81%25.42%——
WEN logoWENThe Wendy's Company
$6.73$1.28B7.92-3.1%5.72%109%—
JACK logoJACKJack in the Box Inc.
$13.46$256.73M-3.20-6.75%2.84%——
DENN logoDENNDenny's Corporation
$6.25$321.87M15.24-2.5%2.24%——

Compare QSR vs Peers

Restaurant Brands International Inc. (QSR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MCD

Most directly comparable listed peer for QSR.

Scale Benchmark

vs UBER

Larger-name benchmark to compare QSR against a more recognizable public peer.

Peer Set

Compare Top 5

vs MCD, YUM, WEN, JACK

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

QSR SEC Filings & Documents

Restaurant Brands International Inc. (QSR) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 10, 2026·SEC

Material company update

Aug 6, 2026·SEC

Material company update

May 6, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 20, 2026·SEC

FY 2025

Feb 21, 2025·SEC

10-Q Quarterly Reports

5
FY 2026

Aug 6, 2026·SEC

FY 2026

May 6, 2026·SEC

FY 2025

Oct 30, 2025·SEC

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QSR Frequently Asked Questions

Restaurant Brands International Inc. (QSR) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Restaurant Brands International Inc.'s revenue?

Restaurant Brands International Inc. (QSR) reported $9.70B in revenue for fiscal year 2025. This represents a 392% increase from $1.97B in 2012.

How fast is Restaurant Brands International Inc. growing?

Restaurant Brands International Inc. (QSR) grew revenue by 12.2% over the past year. This is steady growth.

Is QSR profitable?

Yes, Restaurant Brands International Inc. (QSR) is profitable, generating $1.27B in net income for fiscal year 2025 (8.2% net margin).

Dividend & Returns
Does QSR pay dividends?

Yes, Restaurant Brands International Inc. (QSR) pays a dividend with a yield of 3.38%. This makes it attractive for income-focused investors.

What is QSR's return on equity?

Restaurant Brands International Inc. (QSR) has a return on equity (ROE) of 15.5%. This is reasonable for most industries.

What is Restaurant Brands International Inc.'s free cash flow?

Restaurant Brands International Inc. (QSR) generated $1.57B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in QSR back in 2012?

Total return calculator · dividends reinvested · 14+ years of data

See returns →