RESTAURANT BRANDS INTERNATIONAL INC.
In the published model solve dated 2026-Q2, anchored at $72.48, RESTAURANT BRANDS INTERNATIONAL INC. (QSR) is priced for -2.8% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 28, 2026 from SEC EDGAR filings.
At $73.45 the price pays roughly 18 times company-wide operating income, and inverted it asks for essentially no growth at all (about minus 3% a year). For a franchisor targeting 8%-plus organic operating-income growth, the bar the price sets is undemanding. The single number that frames everything is leverage. Net debt sits near $13.6 billion, close to six times trailing operating income. That is the financial reality behind a thin book value and an asset-light royalty model, and it is what ma
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528 institutional managers reported holding QSR in 13F filings for the quarter ended 2026-03-31. Together they hold about 66% of the company; the top 10 hold 35%. 93 opened new positions that quarter. Held by Capital Group (American Funds), Pershing Square, Vanguard Group, among others. On the short side, 18.1M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (4.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
QSR's share count grew 13% over the past five years even with $1.41B spent on repurchases. It pays a dividend, and has paid one every year in our records (12 and counting), raised 3 years straight; the current rate is $2.48 a share annually. Cash returned over the past three years: $2.92B in dividends and $532.00M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at QSR over the trailing three years. Absence is a fact about the company, not a signal. 21 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
QSR's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-09 | -1.7% | -12.0% |
| 2023-11-04 | -1.9% | +12.7% |
| 2024-02-23 | -2.2% | -3.0% |
| 2024-05-01 | -0.8% | -4.5% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
QSR's latest 8-K filings: 2026-06-03 (items 5.07, 9.01); 2026-05-06 (items 2.02, 9.01); 2026-02-12 (items 2.02, 9.01); 2025-11-14 (items 1.01, 7.01, 9.01); 2025-11-10 (items 2.06, 7.01, 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.