Headquartered in Miami, FL Fiscal year ends December NYSE: QSR rbi.com
Restaurant Brands International Inc. (RBI) is a quick service restaurant company with over $49 billion in annual system-wide sales. It operates over 33,000 restaurants in more than 120 countries and territories under four brands: Tim Hortons, Burger King, Popeyes and Firehouse Subs.
**Business model**
- Over 95% of system restaurants are franchised.
- RBI earns royalties, property revenue and advertising fund contributions based on franchise sales.
- Supply chain sales come mainly from Tim Hortons in Canada.
- It also earns company restaurant sales.
**Reporting segments**
- Four franchisor segments covering Tim Hortons, Burger King, Popeyes and Firehouse Subs in the U.S. and Canada.
- An International segment covering all brands in the rest of the world.
- A Restaurant Holdings segment, which holds:
- Burger King restaurants acquired in the Carrols acquisition, which RBI intends to largely refranchise.
- Popeyes China and Firehouse Subs Brazil, for which RBI is seeking new investors before sunsetting the segment.
**BK China**
In January 2026, RBI deconsolidated Burger King China into a joint venture with CPE. RBI retains a 17% equity stake and earns royalties through its International segment.
**Burger King US investment**
RBI is investing up to $700 million through 2028 in Burger King US through its "Reclaim the Flame" plan. Updated
Burger King's U.S. comparable sales jumped 8.4%, the clearest proof yet that the Reclaim the Flame spending is working. That carried a fourth straight quarterly EPS beat even as revenue missed expectations.
Four paired Microsoft option legs on a single day, each reported in ranges as large as $1 million, dwarf everything else in this filing and point to a structured position rather than a casual buy. The small AMAT and Restaurant Brands purchases are rounding errors next to it. Disclosure came 39 days after the trades, so the setup has already had a month to work.
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Restaurant Brands International Inc. (RBI) is a quick service restaurant company with over $49 billion in annual system-wide sales.
24/7 Wall St.'s 12-month price target for QSR is $89.17, rated Buy. The Wall Street consensus target is $85.32. QSR price prediction →
