QSR Restaurant Brands International Inc. Common Shares
$77.86
Price · Aug 18, 2026
Fundamentals as of Aug 6, 2026
52W Range
$61–$82
80% of range
Analyst Rating
BUY
18 analysts
Price Target
$86
+10% upside
P/E (TTM)
33.2
ROE
31.9%
Net Profit Margin
11.4%
QSR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$77.86
Market Cap
$27.04B
P/E (TTM)
33.2
EPS (TTM)
$2.35
Revenue (TTM)
$9.43B
Div Yield
4.1%
ROE
31.9%
Debt/Equity
3.7
52W Range
$61 – $82
QSR Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$9.43B
2018-12-31
→
2025-12-31
EPS
$2.35
2018-12-31
→
2025-12-31
Free Cash Flow
$1.45B
2018-12-31
→
2025-12-31
Margins
11.4%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
QSR
Peer Median
P/E (TTM)
33.2
27.5
P/S (TTM)
2.9
2.1
P/B
7.4
8.9
Price / FCF
18.7
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
QSR
Peer Median
Operating Margin
23.3%
—
Net Profit Margin
11.4%
7.8%
ROA
4.3%
6.9%
ROE
31.9%
31.4%
ROIC
9.3%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
QSR
Peer Median
Debt / Equity
3.7
0.0
Current Ratio
1.0
1.1
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
QSR
Peer Median
Revenue YoY
12.2%
—
Revenue CAGR 3Y
13.2%
—
Revenue CAGR 5Y
13.7%
—
EPS YoY
-26.1%
—
Net Income YoY
-25.6%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
QSR
Peer Median
Payout Ratio
103.1%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
4.1%
Payout Ratio
103.1%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 23, 2026 | $0.6500 |
| March 19, 2026 | $0.6500 |
| Dec. 23, 2025 | $0.6200 |
| Sept. 23, 2025 | $0.6200 |
| June 24, 2025 | $0.6200 |
| March 21, 2025 | $0.6200 |
| Dec. 20, 2024 | $0.5800 |
| Sept. 20, 2024 | $0.5800 |
| June 21, 2024 | $0.5800 |
| March 20, 2024 | $0.5800 |
| Dec. 20, 2023 | $0.5500 |
| Sept. 19, 2023 | $0.5500 |
| June 21, 2023 | $0.5500 |
| March 21, 2023 | $0.5500 |
| Dec. 20, 2022 | $0.5400 |
| Sept. 20, 2022 | $0.5400 |
| June 21, 2022 | $0.5400 |
| March 22, 2022 | $0.5400 |
| Dec. 20, 2021 | $0.5300 |
| Sept. 20, 2021 | $0.5300 |
QSR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
18 analysts
- Strong Buy 4 22.2%
- Buy 8 44.4%
- Hold 6 33.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
23 analysts · 2026-08-15
Median
$85.00
← Below all targets
$77.86
Low
$78.00
High
$104.00
Median target
$85.00
+9.2%
Mean target
$85.74
+10.1%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.00%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $1.07 | $1.04 | 0.03% |
| March 31, 2026 | $0.86 | $0.83 | 0.03% |
| Dec. 31, 2025 | $0.96 | $0.96 | 0.00% |
| Sept. 30, 2025 | $1.03 | $1.01 | 0.02% |
| June 30, 2025 | $0.94 | $0.98 | -0.04% |
| March 31, 2025 | $0.75 | $0.79 | -0.04% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| QSR | $23.63B | 29.0 | 12.2% | 11.4% | 31.9% | — |
| MCD | — | 25.6 | 3.7% | 31.9% | -376.3% | — |
| SBUX | $94.81B | 51.2 | 2.8% | 5.0% | -23.9% | — |
| DASH | — | 106.3 | 27.9% | 6.8% | — | — |
| YUM | — | 27.3 | 8.8% | 19.0% | -20.8% | — |
| CMG | — | 32.5 | 5.4% | 12.9% | 48.3% | — |
| DRI | $23.27B | 19.6 | 9.4% | 9.1% | 56.3% | 20.3% |
| ARMK | $10.25B | 32.0 | 6.3% | 1.8% | 10.6% | — |
| TXRH | $11.03B | 27.4 | 9.4% | 7.0% | 29.4% | — |
| DPZ | $14.31B | 24.2 | 5.0% | 12.2% | -15.3% | 40.0% |
| EAT | $7.86B | 21.2 | 21.9% | 7.1% | 152.5% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.43B | $8.41B | $7.02B | $6.50B | $5.74B | $4.97B | $5.60B | · | · | $4.15B | |
| Cost of Revenue | · | · | $2.44B | $2.31B | $1.89B | $1.61B | $1.81B | · | · | $1.73B | |
| SG&A Expense | $741M | $733M | $704M | $631M | $484M | $407M | $406M | · | · | $319M | |
| Operating Expenses | $7.23B | $5.99B | $4.97B | $4.61B | $3.86B | $3.55B | $3.60B | · | · | $2.48B | |
| Operating Income | $2.20B | $2.42B | $2.05B | $1.90B | $1.88B | $1.42B | $2.01B | · | · | $1.67B | |
| Interest Income | $31M | $39M | $40M | $7M | $3M | $9M | $20M | · | · | $4M | |
| Pretax Income | $1.68B | $1.81B | $1.45B | $1.36B | $1.36B | $816M | $1.45B | · | · | $1.20B | |
| Income Tax | $483M | $364M | $-265M | $-117M | $110M | $66M | $341M | · | · | $244M | |
| Net Income | $1.07B | $1.45B | $1.72B | $1.48B | $1.25B | $750M | $1.11B | · | · | · | |
| EPS (Basic) | $2.36 | $3.21 | $3.82 | $3.28 | $2.71 | $1.61 | $2.40 | · | · | $1.48 | |
| EPS (Diluted) | $2.35 | $3.18 | $3.76 | $3.25 | $2.69 | $1.60 | $2.37 | · | · | $1.45 | |
| Shares (Basic) | 329,000,000 | 319,000,000 | 312,000,000 | 307,000,000 | 310,000,000 | 302,000,000 | 268,000,000 | · | · | 233,000,000 | |
| Shares (Diluted) | 457,000,000 | 454,000,000 | 456,000,000 | 455,000,000 | 464,000,000 | 468,000,000 | 469,000,000 | · | · | 470,000,000 | |
| EBITDA | $2.20B | $2.42B | $2.05B | $1.90B | $1.88B | $1.42B | $2.01B | · | · | $1.67B |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | · | · | · | · | · | · | $913M | $1.10B | $1.48B | |
| Inventory | $205M | $142M | $166M | $133M | $96M | $96M | $84M | $75M | $78M | $72M | |
| Prepaid Expense | $179M | $108M | $119M | $123M | $86M | $72M | $52M | $60M | $63M | $104M | |
| Current Assets | $2.83B | $2.28B | $2.17B | $2.05B | $1.82B | $2.26B | $2.20B | $1.50B | $1.73B | $2.10B | |
| PP&E (Net) | $2.30B | $1.18B | $1.33B | $1.40B | $1.51B | $1.52B | $2.01B | $2.02B | $2.13B | $2.05B | |
| PP&E (Gross) | $1.85B | $1.76B | $1.99B | $2.02B | $2.10B | $2.06B | $2.75B | · | · | $2.53B | |
| Accum. Depreciation | $628M | $582M | $656M | $625M | $587M | $534M | $746M | · | · | $474M | |
| Goodwill | $6.31B | $5.99B | $5.78B | $5.69B | $6.01B | $5.74B | $5.65B | $5.49B | $5.78B | $4.68B | |
| Intangibles | $11.19B | $10.92B | $11.11B | $10.99B | $11.42B | $10.70B | $10.56B | $10.33B | $11.06B | $9.23B | |
| Other Non-current Assets | $1.02B | $1.35B | $1.26B | $987M | $762M | $824M | $719M | $642M | $533M | $260M | |
| Total Assets | $25.61B | $24.63B | $23.39B | $22.75B | $23.25B | $22.78B | $22.36B | $21.18B | $21.31B | $19.12B | |
| Accounts Payable | $866M | $765M | $790M | $758M | $614M | $464M | $644M | $513M | $496M | $370M | |
| Current Liabilities | $2.89B | $2.36B | $2.14B | $2.12B | $1.88B | $1.60B | $1.70B | $1.52B | $1.62B | $1.21B | |
| Capital Leases | $1.90B | $1.77B | $1.06B | $1.03B | $1.07B | $1.08B | $1.09B | · | $244M | $218M | |
| Deferred Tax | $1.12B | $1.21B | $1.30B | $1.31B | $1.37B | $1.43B | $1.56B | $1.53B | $1.45B | $1.72B | |
| Other Non-current Liabilities | $1.03B | $706M | $996M | $872M | $1.82B | $2.24B | $1.70B | $1.42B | $1.88B | $785M | |
| Total Liabilities | $20.46B | $19.79B | $18.66B | $18.48B | $19.39B | $19.06B | $18.10B | $17.54B | $17.00B | $12.34B | |
| Long-term Debt | $13.28B | $13.64B | $12.92B | $12.93B | $12.98B | $12.48B | $11.83B | · | · | $8.48B | |
| Total Debt | $13.28B | $13.64B | $12.92B | $12.93B | $12.98B | $12.48B | $11.83B | · | · | $8.48B | |
| Common Stock | $2.86B | $2.36B | $1.97B | $2.06B | $2.16B | $2.40B | $2.48B | $1.74B | $2.05B | $1.96B | |
| Retained Earnings | $1.79B | $1.86B | $1.60B | $1.12B | $791M | $622M | $775M | $686M | $519M | $446M | |
| AOCI | $-1.02B | $-1.11B | $-706M | $-679M | $-710M | $-854M | $-763M | $-800M | $-476M | $-698M | |
| Stockholders' Equity | $3.63B | $3.11B | $2.87B | $2.50B | $2.24B | $2.17B | $2.49B | $1.62B | $2.10B | $1.70B | |
| Liabilities + Equity | $25.61B | $24.63B | $23.39B | $22.75B | $23.25B | $22.78B | $22.36B | $21.18B | $21.31B | $19.12B | |
| Shares Outstanding | 346,323,165 | 324,426,589 | 312,454,851 | 307,142,436 | 309,025,068 | 304,718,749 | 298,281,081 | · | · | 234,236,678 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $301M | $264M | $191M | $190M | $201M | $189M | $185M | · | · | $172M | |
| Stock-based Comp | $151M | $172M | $194M | $136M | $102M | $84M | $74M | · | · | $35M | |
| Deferred Tax | $97M | $-5M | $-430M | $-60M | $-5M | $-208M | $58M | · | · | $80M | |
| Amort. of Intangibles | $69M | $58M | $37M | $39M | $41M | $43M | $44M | · | · | $72M | |
| Operating Cash Flow | $1.71B | $1.50B | $1.32B | $1.49B | $1.73B | $921M | $1.48B | · | · | $1.25B | |
| CapEx | $265M | $201M | $120M | $100M | $106M | $117M | $62M | · | · | $34M | |
| Investing Cash Flow | $-318M | $-660M | $11M | $-64M | $-1.10B | $-79M | $-30M | · | · | $27M | |
| Debt Issued | $0 | $2.45B | $55M | $2M | $1.33B | $5.24B | $2.25B | · | · | $0 | |
| Net Debt Issued | $0 | $2.45B | $55M | $2M | $1.33B | $527M | $-16M | · | · | $-70M | |
| Stock Issued | · | $0 | $0 | $30M | $0 | $0 | · | · | · | · | |
| Stock Repurchased | $0 | $0 | $500M | $326M | $551M | $0 | $0 | · | · | · | |
| Net Stock Activity | $0 | $0 | $-500M | $-296M | $-551M | · | · | · | · | · | |
| Dividends Paid | $1.11B | $1.03B | $990M | $971M | $974M | $959M | $901M | · | · | $538M | |
| Financing Cash Flow | $-1.44B | $-625M | $-1.37B | $-1.31B | $-1.09B | $-821M | $-842M | · | · | $-591M | |
| Net Change in Cash | $-105M | $195M | $-39M | $91M | $-473M | $27M | $620M | · | · | $684M | |
| Taxes Paid | $450M | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $1.45B | $1.30B | $1.20B | $1.39B | $1.62B | $804M | $1.41B | · | · | $1.24B |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 23.3% | 28.8% | 29.2% | 29.2% | 32.7% | 28.6% | 35.8% | · | · | 40.2% | |
| Net Margin | 11.4% | 17.2% | 24.5% | 22.8% | 21.8% | · | · | · | · | · | |
| Pretax Margin | 17.8% | 21.5% | 20.7% | 21.0% | 23.8% | 16.4% | 25.9% | · | · | 28.9% | |
| EBITDA Margin | 23.3% | 28.8% | 29.2% | 29.2% | 32.7% | 28.6% | 35.8% | · | · | 40.2% | |
| ROA | 4.3% | 6.0% | 7.4% | 6.4% | 5.5% | · | · | · | · | · | |
| ROE | 31.9% | 48.4% | 64.0% | 62.6% | 56.9% | · | · | · | · | · | |
| ROIC | 9.3% | 11.5% | 15.4% | 13.4% | 11.3% | 8.9% | 10.7% | · | · | 13.0% |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 1.4 | 1.3 | · | · | 1.7 | |
| Quick Ratio | · | · | · | · | · | · | · | · | · | 1.2 | |
| Debt / Equity | 3.7 | 4.4 | 4.5 | 5.2 | 5.8 | 5.8 | 4.8 | · | · | 5.0 | |
| LT Debt / Equity | 3.6 | 4.3 | 4.5 | 5.1 | 5.8 | 5.7 | 4.7 | · | · | 4.9 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | 0.3 | 0.3 | 0.2 | 0.2 | 0.3 | · | · | 0.2 | |
| Inventory Turnover | · | · | 16.3 | 20.2 | 19.7 | 17.9 | 22.8 | · | · | 22.6 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 12.2% | 19.7% | 8.0% | 13.4% | 15.5% | · | · | · | · | · | |
| Revenue CAGR 3Y | 13.2% | 13.6% | 12.2% | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 13.7% | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -26.1% | -15.4% | 15.7% | 20.8% | 68.1% | · | · | · | · | · | |
| EPS CAGR 3Y | -10.2% | 5.7% | 33.0% | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 8.0% | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -25.6% | -15.9% | 15.9% | 18.3% | 67.1% | · | · | · | · | · | |
| Net Income CAGR 3Y | -10.2% | 4.9% | 31.8% | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 7.5% | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 2.9% | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $9.43B | $8.41B | $7.02B | $6.50B | $5.74B | $4.97B | $5.60B | · | · | $4.15B | |
| Net Income TTM | $1.07B | $1.45B | $1.72B | $1.48B | $1.25B | $750M | $1.11B | · | · | $956M | |
| Market Cap | $23.63B | $21.15B | $24.41B | $19.86B | $18.75B | $18.62B | $19.02B | · | · | $11.16B | |
| Enterprise Value | · | · | · | · | · | · | · | · | · | $18.19B | |
| P/E | 29.0 | 20.5 | 20.8 | 19.9 | 22.6 | 38.2 | 26.9 | · | · | 32.9 | |
| P/S | 2.5 | 2.5 | 3.5 | 3.1 | 3.3 | 3.7 | 3.4 | · | · | 2.7 | |
| P/B | 6.5 | 6.8 | 8.5 | 7.9 | 8.4 | 8.6 | 7.6 | · | · | 6.6 | |
| P / Cash Flow | 13.8 | 14.1 | 18.5 | 13.3 | 10.9 | 20.2 | 12.9 | · | · | 8.8 | |
| P / FCF | 16.3 | 16.2 | 20.3 | 14.3 | 11.6 | 23.2 | 13.5 | · | · | 9.0 | |
| EV / EBITDA | · | · | · | · | · | · | · | · | · | 10.9 | |
| EV / FCF | · | · | · | · | · | · | · | · | · | 14.7 | |
| EV / Revenue | · | · | · | · | · | · | · | · | · | 4.4 | |
| Dividend Yield | 4.7% | 4.9% | 4.1% | 4.9% | 5.2% | 5.1% | 4.7% | · | · | 4.8% | |
| Earnings Yield | 3.4% | 4.9% | 4.8% | 5.0% | 4.4% | 2.6% | 3.7% | · | · | 3.0% | |
| Payout Ratio | 103.1% | 71.2% | 57.6% | 65.5% | 77.7% | · | · | · | · | · | |
| Annual Payout | $1.11B | $1.03B | $990M | $971M | $974M | $959M | $901M | · | · | $538M |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.52B | $2.26B | $2.47B | $2.45B | $2.41B | $2.11B | $2.30B | $2.29B | $2.08B | $1.74B | $1.82B | $1.84B | $1.77B | $1.59B | $1.69B | $1.73B | |
| Cost of Revenue | · | · | · | · | · | · | · | · | · | $606M | · | $630M | $612M | $550M | · | $615M | |
| SG&A Expense | $181M | $180M | $192M | $170M | $188M | $191M | $199M | $176M | $185M | $173M | $197M | $169M | $163M | $175M | $196M | $156M | |
| Operating Expenses | $1.80B | $1.66B | $1.84B | $1.79B | $1.93B | $1.67B | $1.66B | $1.71B | $1.42B | $1.20B | $1.35B | $1.25B | $1.22B | $1.14B | $1.34B | $1.17B | |
| Operating Income | $716M | $606M | $621M | $663M | $483M | $435M | $635M | $577M | $663M | $544M | $468M | $582M | $554M | $447M | $346M | $561M | |
| Interest Income | $5M | $6M | $8M | $9M | $6M | $8M | $10M | $9M | $9M | $11M | $11M | $13M | $9M | $7M | $4M | $2M | |
| Pretax Income | $592M | $483M | $494M | $534M | $351M | $305M | $500M | $429M | $484M | $396M | $316M | $423M | $409M | $305M | $202M | $428M | |
| Income Tax | $-73M | $38M | $220M | $94M | $87M | $82M | $139M | $72M | $85M | $68M | $-410M | $59M | $58M | $28M | $-134M | $-102M | |
| Net Income | $665M | $445M | $155M | $436M | $263M | $221M | $361M | $357M | $399M | $328M | $726M | $364M | $351M | $277M | $336M | $530M | |
| EPS (Basic) | $1.46 | $0.98 | $0.33 | $0.96 | $0.58 | $0.49 | $0.80 | $0.79 | $0.89 | $0.73 | $1.64 | $0.80 | $0.77 | $0.61 | $0.74 | $1.18 | |
| EPS (Diluted) | $1.45 | $0.97 | $0.33 | $0.96 | $0.57 | $0.49 | $0.79 | $0.79 | $0.88 | $0.72 | $1.59 | $0.79 | $0.77 | $0.61 | $0.73 | $1.17 | |
| Shares (Basic) | 348,000,000 | 347,000,000 | -653,000,000 | 328,000,000 | 328,000,000 | 326,000,000 | -631,000,000 | 319,000,000 | 317,000,000 | 314,000,000 | -623,000,000 | 314,000,000 | 312,000,000 | 309,000,000 | -616,000,000 | 306,000,000 | |
| Shares (Diluted) | 460,000,000 | 459,000,000 | -913,000,000 | 457,000,000 | 457,000,000 | 456,000,000 | -906,000,000 | 454,000,000 | 453,000,000 | 453,000,000 | -917,000,000 | 459,000,000 | 458,000,000 | 456,000,000 | -912,000,000 | 454,000,000 | |
| EBITDA | $716M | $606M | · | $663M | $483M | $435M | · | $577M | $663M | $544M | · | $582M | $554M | $447M | · | $561M |
Balance Sheet 24
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory | $224M | $203M | $205M | $216M | $167M | $159M | $142M | $169M | $160M | $152M | · | $160M | $171M | $145M | · | $129M | |
| Prepaid Expense | $256M | $172M | $179M | $201M | $195M | $150M | $108M | $217M | $191M | $121M | · | $221M | $167M | $103M | · | $251M | |
| Current Assets | $2.34B | $2.15B | $2.83B | $3.02B | $2.79B | $2.53B | $2.28B | $2.25B | $2.03B | $2.07B | · | $2.38B | $2.19B | $1.89B | · | $1.92B | |
| PP&E (Net) | $2.23B | $2.26B | $1.22B | · | · | · | $1.18B | · | · | · | · | · | · | · | · | · | |
| PP&E (Gross) | · | · | $1.85B | · | · | · | $1.76B | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $628M | · | · | · | $582M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $6.18B | $6.25B | $6.31B | $6.22B | $6.30B | $6.10B | $5.99B | $6.19B | $6.14B | $5.70B | · | $5.68B | $5.77B | $5.70B | · | $5.61B | |
| Intangibles | $10.95B | $11.08B | $11.19B | $11.13B | $11.28B | $10.93B | $10.92B | $11.35B | $11.27B | $10.97B | · | $10.95B | $11.12B | $11.01B | · | $10.83B | |
| Other Non-current Assets | $1.36B | $1.16B | $1.02B | $1.14B | $1.17B | $1.24B | $1.35B | $1.18B | $1.33B | $1.33B | · | $1.10B | $1.00B | $827M | · | $1.15B | |
| Total Assets | $25.02B | $24.88B | $25.61B | $25.67B | $25.69B | $24.88B | $24.63B | $25.07B | $24.85B | $23.14B | · | $23.08B | $23.13B | $22.53B | · | $22.56B | |
| Accounts Payable | $884M | $813M | $866M | $826M | $763M | $697M | $765M | $754M | $720M | $734M | · | $693M | $735M | $679M | · | $696M | |
| Current Liabilities | $2.31B | $2.18B | $2.89B | $2.85B | $2.75B | $2.63B | $2.36B | $2.21B | $2.62B | $1.92B | · | $2.07B | $2.02B | $1.88B | · | $1.92B | |
| Capital Leases | $1.91B | $1.92B | $1.90B | $1.84B | $1.83B | $1.78B | $1.77B | $1.77B | $1.77B | $1.07B | · | $1.00B | $1.04B | $1.02B | · | $1.00B | |
| Deferred Tax | $1.06B | $1.08B | $1.12B | $1.15B | $1.21B | $1.19B | $1.21B | $1.24B | $1.30B | $1.31B | · | $1.31B | $1.33B | $1.29B | · | $1.39B | |
| Other Non-current Liabilities | $900M | $931M | $1.03B | $977M | $1.09B | $733M | $706M | $931M | $823M | $862M | · | $864M | $960M | $895M | · | $1.04B | |
| Total Liabilities | $19.63B | $19.59B | $20.46B | $20.50B | $20.60B | $20.06B | $19.79B | $20.03B | $19.90B | $18.31B | · | $18.41B | $18.45B | $18.21B | · | $18.52B | |
| Long-term Debt | $13.25B | $13.27B | $13.28B | $13.49B | $13.61B | $13.62B | $13.64B | $13.66B | $13.67B | $12.91B | · | $12.92B | $12.90B | $12.92B | · | $12.94B | |
| Total Debt | $13.25B | $13.27B | · | $13.49B | $13.61B | $13.62B | · | $13.66B | $13.67B | $12.91B | · | $12.92B | $12.90B | $12.92B | · | $12.94B | |
| Common Stock | $2.87B | $2.90B | $2.86B | $2.50B | $2.47B | $2.43B | $2.36B | $2.30B | $2.14B | $2.08B | · | $2.27B | $2.25B | $2.16B | · | $1.96B | |
| Retained Earnings | $2.18B | $1.90B | $1.79B | $1.90B | $1.79B | $1.81B | $1.86B | $1.79B | $1.73B | $1.64B | · | $1.27B | $1.20B | $1.13B | · | $1.06B | |
| AOCI | $-1.20B | $-1.06B | $-1.02B | $-1.02B | $-946M | $-1.12B | $-1.11B | $-858M | $-804M | $-747M | · | $-627M | $-591M | $-716M | · | $-713M | |
| Stockholders' Equity | $3.85B | $3.74B | $3.63B | $3.38B | $3.32B | $3.12B | $3.11B | $3.24B | $3.07B | $2.97B | · | $2.91B | $2.85B | $2.58B | · | $2.31B | |
| Liabilities + Equity | $25.02B | $24.88B | $25.61B | $25.67B | $25.69B | $24.88B | $24.63B | $25.07B | $24.85B | $23.14B | · | $23.08B | $23.13B | $22.53B | · | $22.56B | |
| Shares Outstanding | 349,205,651 | 347,325,114 | 346,323,165 | 327,807,087 | 327,777,360 | 327,629,161 | 324,426,589 | 323,704,500 | 316,897,975 | 316,382,439 | 312,454,851 | 317,837,606 | 312,203,465 | 311,171,545 | 307,142,436 | 305,859,367 |
Cash Flow 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $77M | $78M | $77M | $76M | $77M | $71M | $78M | $78M | $59M | $49M | $49M | $47M | $49M | $46M | $47M | $46M | |
| Stock-based Comp | $35M | $35M | $38M | $32M | $33M | $48M | $48M | $37M | $41M | $46M | $53M | $49M | $47M | $45M | $43M | $34M | |
| Amort. of Intangibles | $17M | $17M | $17M | $17M | $18M | $17M | $17M | $19M | $13M | $9M | $9M | $9M | $10M | $9M | $10M | $9M | |
| Operating Cash Flow | $530M | $227M | $555M | $592M | $449M | $118M | $481M | $540M | $334M | $148M | $403M | $433M | $392M | $95M | $423M | $398M | |
| CapEx | $51M | $58M | $102M | $61M | $38M | $64M | $77M | $55M | $43M | $26M | $47M | $25M | $30M | $18M | $48M | $24M | |
| Investing Cash Flow | $-27M | $-33M | $-105M | $-11M | $-18M | $-184M | $-44M | $-57M | $-528M | $-31M | $22M | $-3M | $-8M | $0 | $2M | $-20M | |
| Debt Issued | · | · | $0 | $0 | · | · | $0 | $500M | · | · | $0 | $53M | $2M | $0 | $0 | $0 | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | · | · | |
| Stock Repurchased | $138M | $32M | · | · | $0 | $0 | $0 | · | · | · | $385M | $115M | $0 | $0 | $0 | $0 | |
| Net Stock Activity | · | $-32M | · | · | · | · | · | · | · | · | · | · | · | $0 | · | · | |
| Dividends Paid | $296M | $283M | $282M | $282M | $282M | $262M | $262M | $261M | $261M | $245M | $249M | $249M | $249M | $243M | $243M | $243M | |
| Financing Cash Flow | $-447M | $-306M | $-484M | $-397M | $-290M | $-265M | $-260M | $-253M | $91M | $-203M | $-600M | $-326M | $-208M | $-240M | $-196M | $-251M | |
| Net Change in Cash | $51M | $-142M | $-62M | $213M | $98M | $-354M | $158M | $234M | $-107M | $-90M | $-171M | $97M | $180M | $-145M | $232M | $108M | |
| Free Cash Flow | · | $169M | · | · | · | $54M | · | · | · | $122M | · | · | · | $77M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 28.4% | 26.8% | · | 27.1% | 20.0% | 20.6% | · | 25.2% | 31.9% | 31.3% | · | 31.7% | 31.2% | 28.1% | · | 32.5% | |
| Net Margin | 26.4% | 19.7% | · | 17.8% | 10.9% | 10.5% | · | 15.6% | 19.2% | 18.9% | · | 19.8% | 19.8% | 17.4% | · | 30.7% | |
| Pretax Margin | 23.5% | 21.3% | · | 21.8% | 14.6% | 14.5% | · | 18.7% | 23.3% | 22.8% | · | 23.0% | 23.0% | 19.2% | · | 24.8% | |
| EBITDA Margin | 28.4% | 26.8% | · | 27.1% | 20.0% | 20.6% | · | 25.2% | 31.9% | 31.3% | · | 31.7% | 31.2% | 28.1% | · | 32.5% | |
| ROA | 2.6% | 1.8% | · | 1.7% | 1.0% | 0.92% | · | 1.5% | 1.7% | 1.4% | · | 1.6% | 1.5% | 1.2% | · | 2.3% | |
| ROE | 18.6% | 13.0% | · | 13.2% | 8.2% | 7.3% | · | 11.6% | 13.5% | 11.8% | · | 13.9% | 13.9% | 11.4% | · | 21.9% | |
| ROIC | 4.7% | 3.3% | · | 3.2% | 2.1% | 1.9% | · | 2.8% | 3.3% | 2.8% | · | 3.2% | 3.0% | 2.6% | · | 4.5% |
Liquidity & Solvency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.0 | · | 1.1 | 1.0 | 1.0 | · | 1.0 | 0.8 | 1.1 | · | 1.2 | 1.1 | 1.0 | · | 1.0 | |
| Debt / Equity | 3.4 | 3.5 | · | 4.0 | 4.1 | 4.4 | · | 4.2 | 4.5 | 4.3 | · | 4.4 | 4.5 | 5.0 | · | 5.6 | |
| LT Debt / Equity | 3.4 | 3.5 | · | 4.0 | 4.0 | 4.3 | · | 4.2 | 4.3 | 4.3 | · | 4.4 | 4.5 | 5.0 | · | 5.6 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | · | · | · | · | · | · | · | · | · | 4.1 | · | 4.4 | 4.3 | 4.3 | · | 5.5 |
Valuation (TTM) 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $9.64B | $9.23B | · | $9.26B | $8.89B | $8.22B | · | $7.95B | $7.43B | $6.94B | · | $6.93B | $6.73B | $6.41B | · | $6.31B | |
| Net Income TTM | $1.81B | $1.36B | · | $1.28B | $1.24B | $1.30B | · | $1.45B | $1.44B | $1.32B | · | $1.52B | $1.50B | $1.42B | · | $1.48B | |
| Market Cap | $25.32B | $25.67B | · | $21.03B | $21.73B | $21.83B | · | $23.35B | $22.30B | $25.14B | · | $21.17B | $24.20B | $20.89B | · | $16.27B | |
| P/E | 18.4 | 24.7 | · | 22.8 | 24.3 | 23.1 | · | 22.7 | 22.3 | 27.5 | · | 19.9 | 23.4 | 21.5 | · | 16.5 | |
| P/S | 2.6 | 2.8 | · | 2.3 | 2.4 | 2.7 | · | 2.9 | 3.0 | 3.6 | · | 3.1 | 3.6 | 3.3 | · | 2.6 | |
| P/B | 6.6 | 6.9 | · | 6.2 | 6.6 | 7.0 | · | 7.2 | 7.3 | 8.5 | · | 7.3 | 8.5 | 8.1 | · | 7.0 | |
| P / Cash Flow | · | 113.1 | · | · | · | 185.0 | · | · | · | 169.8 | · | · | · | 219.9 | · | · | |
| P / FCF | · | 151.9 | · | · | · | 404.3 | · | · | · | 206.0 | · | · | · | 271.3 | · | · | |
| Earnings Yield | 5.5% | 4.0% | · | 4.4% | 4.1% | 4.3% | · | 4.4% | 4.5% | 3.6% | · | 5.0% | 4.3% | 4.7% | · | 6.0% | |
| Payout Ratio | · | 63.6% | · | · | · | 118.5% | · | · | · | 74.7% | · | · | · | 87.7% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $9.43B | $8.41B | $7.02B | $6.50B | $5.74B |
| Operating Margin % | 23.3% | 28.8% | 29.2% | 29.2% | 32.7% |
| Net Income | $1.07B | $1.45B | $1.72B | $1.48B | $1.25B |
| Diluted EPS | $2.35 | $3.18 | $3.76 | $3.25 | $2.69 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 3.7 | 4.4 | 4.5 | 5.2 | 5.8 |
| Current Ratio | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $1.45B | $1.30B | $1.20B | $1.39B | $1.62B |
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Institutional owners (13F) 647 filers · $18.5B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 101 (-14 vs prior Q) | 47 (-4 vs prior Q) | 239 (+19 vs prior Q) | 166 (+18 vs prior Q) | +26.2M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Capital World Investors | $3,180,628,208 | 43,862,952 | 17.22% | Shares |
| PERSHING SQUARE INC. | $1,872,301,303 | 25,821,284 | 10.14% | Shares |
| Pershing Square Capital Management, L.P. | $1,673,501,194 | 22,645,483 | 9.06% | Shares |
| EdgePoint Investment Group Inc. | $1,244,257,515 | 17,171,552 | 6.74% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $760,835,556 | 10,489,509 | 4.12% | Shares |
| GOLDMAN SACHS GROUP INC | $506,332,662 | 6,982,936 | 2.74% | Shares |
| FMR LLC | $493,389,222 | 6,802,519 | 2.67% | Shares |
| Fiera Capital Corp | $446,650,481 | 6,168,961 | 2.42% | Shares |
| CIBC WORLD MARKET INC. | $442,778,617 | 6,106,449 | 2.40% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $394,648,579 | 5,283,686 | 2.14% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $306,136,057 | 4,224,874 | 1.66% | Shares |
| PLATINUM PARAMOUNT INVESTMENT LTD. | $298,661,729 | 4,118,904 | 1.62% | Shares |
| NORGES BANK | $276,981,859 | 3,821,569 | 1.50% | Shares |
| STATE STREET CORP | $246,501,652 | 3,368,699 | 1.33% | Shares |
| NOMURA HOLDINGS INC | $244,563,033 | 3,372,818 | 1.32% | Shares |
| Canoe Financial LP | $243,102,095 | 3,354,908 | 1.32% | Shares |
| 1832 Asset Management L.P. | $232,455,168 | 3,205,836 | 1.26% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $224,951,708 | 3,101,391 | 1.22% | Shares |
| CITADEL ADVISORS LLC | $212,300,216 | 2,927,875 | 1.15% | Shares |
| JARISLOWSKY, FRASER Ltd | $209,386,324 | 3,263,219 | 1.13% | Shares |
| Davis Selected Advisers | $203,046,140 | 2,800,345 | 1.10% | Shares |
| Vanguard Global Advisers, LLC | $190,726,176 | 2,629,509 | 1.03% | Shares |
| Capital Research Global Investors | $182,311,820 | 2,514,299 | 0.99% | Shares |
| TD Waterhouse Canada Inc. | $176,997,748 | 2,473,606 | 0.96% | Shares |
| Blue Sparrow, LLC /DE | $173,298,900 | 2,390,000 | 0.94% | Shares |
| MACKENZIE FINANCIAL CORP | $161,871,088 | 1,573,550 | 0.88% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $143,316,664 | 1,977,662 | 0.78% | Shares |
| LONDON CO OF VIRGINIA | $142,168,166 | 1,960,645 | 0.77% | Shares |
| Cullen Capital Management, LLC | $128,349,582 | 1,770,095 | 0.69% | Shares |
| Burgundy Asset Management Ltd. | $110,266,739 | 1,742,299 | 0.60% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $101,781,084 | 1,406,008 | 0.55% | Shares |
| NATIONAL BANK OF CANADA /FI/ | $97,357,404 | 1,371,636 | 0.53% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $93,297,324 | 1,286,682 | 0.51% | Shares |
| Corvex Management LP | $91,738,057 | 1,265,178 | 0.50% | Shares |
| D. E. Shaw & Co., Inc. | $81,911,501 | 1,129,982 | 0.44% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $80,312,742 | 1,107,644 | 0.43% | Shares |
| Swiss National Bank | $75,050,116 | 1,037,730 | 0.41% | Shares |
| BANK OF NOVA SCOTIA | $73,847,230 | 1,018,188 | 0.40% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $71,340,430 | 983,870 | 0.39% | Shares |
| SCOTIA CAPITAL INC. | $71,301,815 | 985,634 | 0.39% | Shares |
| Aviso Financial Inc. | $71,110,219 | 980,833 | 0.38% | Shares |
| GUARDIAN CAPITAL LP | $67,746,865 | 934,343 | 0.37% | Shares |
| Alberta Investment Management Corp | $62,976,855 | 869,121 | 0.34% | Shares |
| CIBC Asset Management Inc | $61,579,499 | 843,087 | 0.33% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $55,546,859 | 765,815 | 0.30% | Shares |
| Caisse de depot et placement du Quebec | $53,650,974 | 739,937 | 0.29% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $52,518,993 | 724,300 | 0.28% | Call option |
| RAYMOND JAMES FINANCIAL INC | $50,217,710 | 692,563 | 0.27% | Shares |
| CAPITAL INTERNATIONAL SARL | $48,334,586 | 666,592 | 0.26% | Shares |
| Legal & General Group Plc | $47,906,871 | 660,731 | 0.26% | Shares |
| LETKO, BROSSEAU & ASSOCIATES INC | $46,641,965 | 643,271 | 0.25% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $41,753,800 | 576,200 | 0.23% | Shares |
| VANGUARD GROUP INC | $40,614,575 | 595,190 | 0.22% | Shares |
| CONTINENTAL GRAIN CO | $40,545,997 | 559,178 | 0.22% | Shares |
| Epoch Investment Partners, Inc. | $40,182,359 | 554,163 | 0.22% | Shares |
| INTACT INVESTMENT MANAGEMENT INC. | $39,155,005 | 539,861 | 0.21% | Shares |
| CIDEL ASSET MANAGEMENT INC | $38,146,440 | 526,104 | 0.21% | Shares |
| MUFG SECURITIES (CANADA), LTD. | $35,579,332 | 491,312 | 0.19% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $35,223,328 | 485,772 | 0.19% | Shares |
| Addenda Capital Inc. | $32,404,444 | 312,203 | 0.18% | Shares |
| VAN ECK ASSOCIATES CORP | $31,824,939 | 439,207 | 0.17% | Shares |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp | $30,839,436 | 425,604 | 0.17% | Shares |
| JANE STREET GROUP, LLC | $30,824,001 | 425,100 | 0.17% | Call option |
| Federation des caisses Desjardins du Quebec | $29,841,737 | 413,328 | 0.16% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $29,388,852 | 395,330 | 0.16% | Shares |
| MIC Capital Management UK LLP | $28,003,580 | 386,203 | 0.15% | Shares |
| Public Sector Pension Investment Board | $27,903,630 | 385,088 | 0.15% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $27,141,182 | 365,666 | 0.15% | Shares |
| CAPITAL INTERNATIONAL LTD /CA/ | $26,947,906 | 371,644 | 0.15% | Shares |
| Scheer, Rowlett & Associates Investment Management Ltd. | $25,769,092 | 355,630 | 0.14% | Shares |
| AustralianSuper Pty Ltd | $23,866,499 | 329,373 | 0.13% | Shares |
| BlackRock, Inc. | $23,362,722 | 322,200 | 0.13% | Shares |
| RHUMBLINE ADVISERS | $23,082,562 | 318,337 | 0.12% | Shares |
| Capital International, Inc./CA/ | $22,319,521 | 307,813 | 0.12% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $22,275,072 | 307,200 | 0.12% | Put option |
| JANE STREET GROUP, LLC | $21,807,963 | 300,758 | 0.12% | Shares |
| BANK OF AMERICA CORP /DE/ | $21,786,210 | 300,458 | 0.12% | Shares |
| CITADEL ADVISORS LLC | $21,194,673 | 292,300 | 0.11% | Call option |
| Cannell & Spears LLC | $20,660,350 | 284,931 | 0.11% | Shares |
| PICTON MAHONEY ASSET MANAGEMENT | $19,167,411 | 264,919 | 0.10% | Shares |
| Gotham Asset Management, LLC | $18,885,302 | 260,451 | 0.10% | Shares |
| Dana Investment Advisors, Inc. | $18,800,399 | 259,280 | 0.10% | Shares |
| AVIVA PLC | $18,746,145 | 258,881 | 0.10% | Shares |
| Hillsdale Investment Management Inc. | $18,444,015 | 254,553 | 0.10% | Shares |
| GOLDMAN SACHS GROUP INC | $18,127,500 | 250,000 | 0.10% | Call option |
| MORGAN STANLEY | $17,917,946 | 247,110 | 0.10% | Shares |
| BANK OF NOVA SCOTIA TRUST CO | $17,604,340 | 242,785 | 0.10% | Shares |
| Kodai Capital Management LP | $17,030,718 | 255,563 | 0.09% | Shares |
| AMERICAN CENTURY COMPANIES INC | $16,642,823 | 229,453 | 0.09% | Shares |
| Quantinno Capital Management LP | $16,323,333 | 225,118 | 0.09% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $15,785,427 | 217,700 | 0.09% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $15,339,563 | 211,551 | 0.08% | Shares |
| JANUS HENDERSON GROUP PLC | $15,243,501 | 206,272 | 0.08% | Shares |
| LPL Financial LLC | $14,943,383 | 206,087 | 0.08% | Shares |
| Cullen/Frost Bankers, Inc. | $14,833,947 | 204,578 | 0.08% | Shares |
| Woodline Partners LP | $14,611,128 | 201,505 | 0.08% | Shares |
| MILLENNIUM MANAGEMENT LLC | $14,384,606 | 198,381 | 0.08% | Shares |
| AMERIPRISE FINANCIAL INC | $14,230,546 | 196,224 | 0.08% | Shares |
| UBS Group AG | $14,015,023 | 193,284 | 0.08% | Shares |
| State of Tennessee, Department of Treasury | $13,750,103 | 189,637 | 0.07% | Shares |
Company insiders 46 insiders · 20 officers · 25 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Joshua Kobza | Chief Executive Officer | July 7, 2026 A | 586,301 | 0 | 0 | $0 |
| Jose E. Cil | Chief Executive Officer | Feb. 22, 2023 A | 187,414 | 0 | 0 | $0 |
| Sami A. Siddiqui | Chief Financial Officer | July 7, 2026 A | 77,321 | 0 | 0 | $0 |
| Matthew Dunnigan | CFO | Feb. 23, 2024 A | 132,076 | 0 | 0 | $0 |
| Peter Perdue | President, Popeyes-US & Canada | July 7, 2026 A | — | 0 | 0 | $0 |
| Thiago T Santelmo | President, International | July 7, 2026 A | — | 0 | 0 | $0 |
| David Chan Shear | President, International | Feb. 23, 2024 A | 245,603 | 0 | 0 | $0 |
| Christopher L. Finazzo | President, Burger King North America | April 6, 2021 A | 7,118 | 0 | 0 | $0 |
| Alexandre Santoro | President, Popeyes | Feb. 22, 2019 A | 12,585 | 0 | 0 | $0 |
| Duncan Fulton | Chief Corporate Officer | July 7, 2026 A | 25,386 | 0 | 0 | $0 |
| Jeffrey Housman | Chief People & Services Officer | July 7, 2026 A | 94,228 | 0 | 0 | $0 |
| Thomas Benjamin Curtis | Pres., BK US & CA | July 7, 2026 A | 27,104 | 0 | 0 | $0 |
| Axel Mr Schwan | Pres., Tim Hortons US & Canada | July 7, 2026 A | 133,479 | 0 | 0 | $0 |
| Jacqueline Friesner | SVP, Controller and Principal Accounting Officer | July 7, 2026 A | 151,533 | 0 | 0 | $0 |
| Jill Granat | EVP, General Counsel and Secretary | July 7, 2026 A | 410,759 | 0 | 0 | $0 |
| Patrick J Doyle | Executive Chairman | July 7, 2026 A | 193,855 | 0 | 3 | $-3,042,887 |
| Fernando Machado | Chief Marketing Officer | April 6, 2021 A | 65,351 | 0 | 0 | $0 |
| Felipe A Athayde | Brand Pres., Popeyes, Americas | Sept. 14, 2020 D | 0 | 0 | 0 | $0 |
| Heitor Goncalves | Senior EVP, Chief Information and Performance Officer and Chief People Officer | Jan. 4, 2019 A | 407,711 | 0 | 0 | $0 |
| Elias Diaz-Sese | Senior EVP, President, Tim Hortons | April 4, 2017 A | 90,441 | 0 | 0 | $0 |
| Marcia Marie Smith | Director | June 4, 2026 A | — | 0 | 0 | $0 |
| Jordana Fribourg | Director | Dec. 29, 2023 A | 934 | 0 | 0 | $0 |
| Cristina Farjallat | Director | Dec. 29, 2023 A | 1,436 | 0 | 0 | $0 |
| Thecla Sweeney | Director | Dec. 29, 2023 A | 4,153 | 0 | 0 | $0 |
| Marc Lemann | Director | Dec. 29, 2023 A | 3,714 | 0 | 0 | $0 |
| Jason Melbourne | Director | Dec. 29, 2023 A | 5,776 | 0 | 0 | $0 |
| Stirum Maximilien De Limburg | Director | Dec. 29, 2023 A | 6,612 | 0 | 0 | $0 |
| Ali Hedayat | Director | Dec. 29, 2023 A | 20,037 | 0 | 0 | $0 |
| Daniel S Schwartz | Director | Dec. 29, 2023 A | 9,285 | 0 | 0 | $0 |
| Alexandre Behring | Director | Dec. 29, 2023 A | 9,458 | 0 | 0 | $0 |
| John F. Prato | Director | Dec. 30, 2022 A | 7,083 | 0 | 0 | $0 |
| Golnar Khosrowshahi | Director | Dec. 30, 2022 A | 15,158 | 0 | 0 | $0 |
| Joao M. Castro-Neves | Director | Dec. 30, 2022 A | 7,423 | 0 | 0 | $0 |
| Neil Golden | Director | Dec. 30, 2022 A | 27,998 | 0 | 0 | $0 |
| Paul J Fribourg | Director | Dec. 30, 2022 A | 68,636 | 0 | 0 | $0 |
| Carlos Alberto Sicupira | Director | Dec. 30, 2021 A | 142,642 | 0 | 0 | $0 |
| Motta Roberto Moses Thompson | Director | May 26, 2021 M | 16,241 | 0 | 0 | $0 |
| Marc Caira | Director | Dec. 29, 2019 A | 82,168 | 0 | 0 | $0 |
| Alexandre Van Damme | Director | Dec. 29, 2019 A | 25,599 | 0 | 0 | $0 |
| Sir Martin E. Franklin | Director | Dec. 29, 2018 A | 18,357 | 0 | 0 | $0 |
| Cecilia Sicupira | Director | Dec. 30, 2017 A | 2,592 | 0 | 0 | $0 |
| Milroy V Thomas | Director | Dec. 30, 2017 A | 27,686 | 0 | 0 | $0 |
| Alan Parker | Director | Jan. 14, 2016 C | 300 | 0 | 0 | $0 |
| John Anthony Lederer | Director | Dec. 31, 2015 A | 55,093 | 0 | 0 | $0 |
| 3G Restaurant Brands Holdings General Partner Ltd. | 10% owner | Nov. 8, 2017 S | 0 | 0 | 0 | $0 |
| Alexandre Macedo | — | Oct. 30, 2019 S | 23,030 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 6 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| 3G Restaurant Brands Holdings General Partner Ltd., 3G Restaurant Brands Holdings LP ×24 filings | Aug. 12, 2026 | 21.30% | Amendment | — | SEC |
| Pershing Square Capital Management, L.P., Pershing Square USA, Ltd., Pershing Square Inc., Pershing Square Partner Group, LLC, Pershing Square Management, LLC, William A. Ackman ×5 filings | May 8, 2026 | 7.80% | Amendment | — | SEC |
| Pershing Square Capital Management, L.P. (2), PS Management GP, LLC (2), William A. Ackman (2) | April 29, 2024 | — | Initial filing | — | SEC |
| Restaurant Brands International Inc. (IRS Identification Number, Restaurant Brands International Limited Partnership (IRS Identification Number ×3 filings | Dec. 22, 2022 | — | Initial filing | — | SEC |
| 3G Restaurant Brands Holdings LP, 3G Restaurant Brands Holdings General Partner Ltd., 3G Capital Partners LP, 3G Capital Partners Ltd., 3G Capital Partners II LP, 3G Special Situations Partners, Ltd., 3G Special Situations Fund II, L.P. | Sept. 25, 2015 | — | Initial filing | — | SEC |
| 3G Capital Partners LP, 3G Capital Partners Ltd., 3G Capital Partners II LP, 3G Special Situations Partners, Ltd., 3G Special Situations Fund II, L.P. | Dec. 22, 2014 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 73 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| DUSA · Davis Fundamental ETF Trust | 3.23% | 463,950 NS | April 30, 2026 | N-PORT |
| PEJ · Invesco Exchange-Traded Fund Trust | 2.44% | 107,719 SH | Aug. 8, 2026 | Daily |
| DINT · Davis Fundamental ETF Trust | 2.29% | 78,862 NS | April 30, 2026 | N-PORT |
| PID · Invesco Exchange-Traded Fund Trust | 1.90% | 236,379 SH | Aug. 8, 2026 | Daily |
| JMID · Janus Detroit Street Trust | 1.84% | 4,149 NS | April 30, 2026 | N-PORT |
| GURU · Global X Funds | 1.28% | 9,278 NS | April 30, 2026 | N-PORT |
| FXD · First Trust Exchange-Traded AlphaDE… | 1.15% | 37,778 NS | April 30, 2026 | N-PORT |
| BBCA · J.P. Morgan Exchange-Traded Fund Tr… | 0.87% | 1,155,179 NS | April 30, 2026 | N-PORT |
| EWC · iShares, Inc. | 0.74% | 653,195 SH | Aug. 8, 2026 | Daily |
| QLV · FlexShares Trust | 0.62% | 13,104 NS | April 30, 2026 | N-PORT |
| CGGO · Capital Group Global Growth Equity … | 0.50% | 758,763 NS | May 31, 2026 | N-PORT |
| VIGI · VANGUARD WHITEHALL FUNDS | 0.45% | 567,086 SH | Aug. 8, 2026 | Daily |
| IYC · iShares Trust | 0.41% | 68,396 SH | Aug. 8, 2026 | Daily |
| IWP · iShares Trust | 0.41% | 1,136,290 SH | Aug. 8, 2026 | Daily |
| RXI · iShares Trust | 0.38% | 14,387 SH | Aug. 8, 2026 | Daily |
| DIHP · Dimensional ETF Trust | 0.31% | 219,563 NS | April 30, 2026 | N-PORT |
| RECS · Columbia ETF Trust I | 0.30% | 204,563 NS | April 30, 2026 | N-PORT |
| IWR · iShares Trust | 0.18% | 1,396,249 SH | Aug. 8, 2026 | Daily |
| DXIV · Dimensional ETF Trust | 0.17% | 3,100 NS | April 30, 2026 | N-PORT |
| WLDR · Two Roads Shared Trust | 0.16% | 1,397 NS | April 30, 2026 | N-PORT |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.15% | 13,947 NS | April 30, 2026 | N-PORT |
| AVSD · AMERICAN CENTURY ETF TRUST | 0.14% | 8,962 NS | May 31, 2026 | N-PORT |
| DEUS · DBX ETF Trust | 0.14% | 5,139 NS | May 29, 2026 | N-PORT |
| VYMI · VANGUARD WHITEHALL FUNDS | 0.14% | 388,139 SH | Aug. 8, 2026 | Daily |
| DFSI · Dimensional ETF Trust | 0.12% | 15,959 NS | April 30, 2026 | N-PORT |
| PTIN · Pacer Funds Trust | 0.12% | 2,762 NS | April 30, 2026 | N-PORT |
| FEUS · FlexShares Trust | 0.12% | 1,653 NS | April 30, 2026 | N-PORT |
| DFAI · Dimensional ETF Trust | 0.12% | 234,618 NS | April 30, 2026 | N-PORT |
| REVS · Columbia ETF Trust I | 0.12% | 4,099 NS | April 30, 2026 | N-PORT |
| JFLI · J.P. Morgan Exchange-Traded Fund Tr… | 0.11% | 590 NS | April 30, 2026 | N-PORT |
| IWS · iShares Trust | 0.10% | 222,477 SH | Aug. 8, 2026 | Daily |
| BKIE · BNY Mellon ETF Trust | 0.10% | 14,759 NS | April 30, 2026 | N-PORT |
| SCHF · SCHWAB STRATEGIC TRUST | 0.09% | 766,836 NS | May 31, 2026 | N-PORT |
| PABD · iShares Trust | 0.08% | 3,796 SH | Aug. 8, 2026 | Daily |
| AVDE · AMERICAN CENTURY ETF TRUST | 0.08% | 183,931 NS | May 31, 2026 | N-PORT |
| VEA · VANGUARD TAX-MANAGED FUNDS | 0.08% | 3,347,366 SH | Aug. 8, 2026 | Daily |
| IDEV · iShares Trust | 0.08% | 339,985 SH | Aug. 8, 2026 | Daily |
| DEEF · DBX ETF Trust | 0.07% | 543 NS | May 29, 2026 | N-PORT |
| DFIC · Dimensional ETF Trust | 0.07% | 122,329 NS | April 30, 2026 | N-PORT |
| VSGX · VANGUARD WORLD FUND | 0.07% | 68,727 SH | Aug. 8, 2026 | Daily |
| DBAW · DBX ETF Trust | 0.07% | 2,433 NS | May 29, 2026 | N-PORT |
| GXUS · Goldman Sachs ETF Trust II | 0.06% | 5,363 NS | May 29, 2026 | N-PORT |
| GGUS · Goldman Sachs ETF Trust | 0.06% | 3,882 NS | May 31, 2026 | N-PORT |
| ACWX · iShares Trust | 0.06% | 100,194 SH | Aug. 8, 2026 | Daily |
| VEU · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.06% | 802,160 SH | Aug. 8, 2026 | Daily |
| RODM · Lattice Strategies Trust | 0.06% | 10,983 NS | April 30, 2026 | N-PORT |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.06% | 6,523 SH | Aug. 8, 2026 | Daily |
| IXUS · iShares Trust | 0.05% | 445,432 SH | Aug. 8, 2026 | Daily |
| FNDF · SCHWAB STRATEGIC TRUST | 0.05% | 174,958 NS | May 31, 2026 | N-PORT |
| PXF · Invesco Exchange-Traded Fund Trust … | 0.05% | 20,550 SH | Aug. 8, 2026 | Daily |