QSR Restaurant Brands International Inc. Common Shares
NYSE · Hotels, Restaurants & Leisure · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 6, 2026
$69.91
· of 52w range
· above low
· to high
$64.5252w low
$81.9652w high
Market Cap (MRQ)
$24.41B
P/E (TTM)
18.8
EPS (TTM)
$3.71
Revenue (TTM)
$9.70B
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52W Range
$65–$82
Analyst Rating
BUY
Price Target
$86
P/E
18.8
ROE
47.5%
Net Profit Margin
17.5%
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QSR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$69.91
Market Cap (MRQ)
$24.41B
P/E (TTM)
18.8
EPS (TTM)
$3.71
Revenue (TTM)
$9.70B
Div Yield
4.6%
ROE (TTM)
47.5%
Debt/Equity (MRQ)
3.4
52W Range
$65–$82
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$9.43B2018-12-31 → 2025-12-31
EPS$2.352018-12-31 → 2025-12-31
Free Cash Flow$1.45B2018-12-31 → 2025-12-31
Net margin17.5%2021-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | QSR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 18.85Y avg ≈22.6 | ≈22.6 | 26.4 | Undervalued | |
| P/S (TTM) | 2.55Y avg ≈3.0 | ≈3.0 | 2.4 | Fair value | |
| P/B (MRQ) | 6.35Y avg ≈7.6 | ≈7.6 | 8.1 | Undervalued | |
| Price / FCF (TTM) | 15.05Y avg ≈15.7 | ≈15.7 | · | · | |
| Price / Cash Flow (TTM) | 12.85Y avg ≈14.1 | ≈14.1 | 16.6 | Undervalued | |
| Price / Tangible Book (MRQ) | -3.4 | · | · | · | |
| PEG Ratio | ≈2.4 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | QSR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 26.9%5Y avg ≈28.7% | ≈28.7% | 13.1% | Top tier | |
| EBITDA Margin | 23.3%5Y avg ≈28.7% | ≈28.7% | 16.6% | Top tier | |
| Pretax Margin (TTM) | 21.7%5Y avg ≈21.0% | ≈21.0% | 14.7% | Top tier | |
| Net Profit Margin (TTM) | 17.5%5Y avg ≈19.5% | ≈19.5% | 11.3% | Top tier | |
| ROA (TTM) | 6.7%5Y avg ≈5.9% | ≈5.9% | 10.9% | Weak | |
| ROE (TTM) | 47.5%5Y avg ≈52.8% | ≈52.8% | 10.2% | Top tier | |
| ROIC | 9.3%5Y avg ≈12.2% | ≈12.2% | 19.1% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | QSR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 3.45Y avg ≈4.7 | ≈4.7 | 0.0 | High debt | |
| Current Ratio (MRQ) | 1.05Y avg ≈1.0 | ≈1.0 | 0.9 | In line | |
| Long-Term Debt / Equity (MRQ) | 3.45Y avg ≈4.7 | ≈4.7 | -0.8 | High debt |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | QSR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 12.2%5Y avg ≈13.8% | ≈13.8% | · | · | |
| Revenue CAGR 3Y | 13.2%5Y avg ≈13.0% | ≈13.0% | · | · | |
| Revenue CAGR 5Y | 13.7% | · | · | · | |
| EPS YoY | -26.1%5Y avg ≈12.6% | ≈12.6% | · | · | |
| Net Income YoY | -25.6%5Y avg ≈12.0% | ≈12.0% | · | · | |
| EPS CAGR 3Y | -10.2%5Y avg ≈9.5% | ≈9.5% | · | · | |
| EPS CAGR 5Y | 8.0% | · | · | · | |
| Net Income CAGR 3Y | -10.2%5Y avg ≈8.8% | ≈8.8% | · | · | |
| Net Income CAGR 5Y | 7.5% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | QSR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.45Y avg ≈0.3 | ≈0.3 | 1.1 | Weak | |
| Revenue / Employee | ≈$176.3K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield4.6%
Payout Ratio103.1%
Annualized Payout≈$2.60
5Y Div CAGR≈3.6%
Growth Streak≈9
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Sep 18, 2026 | $0.65 | USD | ≈3.5% |
| Jun 23, 2026 | $0.65 | USD | ≈3.5% |
| Mar 19, 2026 | $0.65 | USD | ≈3.4% |
| Dec 23, 2025 | $0.62 | USD | ≈3.6% |
| Sep 23, 2025 | $0.62 | USD | ≈3.8% |
| Jun 24, 2025 | $0.62 | USD | ≈3.7% |
| Mar 21, 2025 | $0.62 | USD | ≈3.5% |
| Dec 20, 2024 | $0.58 | USD | ≈3.5% |
| Sep 20, 2024 | $0.58 | USD | ≈3.3% |
| Jun 21, 2024 | $0.58 | USD | ≈3.3% |
| Mar 20, 2024 | $0.58 | USD | ≈2.8% |
| Dec 20, 2023 | $0.55 | USD | ≈2.9% |
| Sep 19, 2023 | $0.55 | USD | ≈3.2% |
| Jun 21, 2023 | $0.55 | USD | ≈2.9% |
| Mar 21, 2023 | $0.55 | USD | ≈3.5% |
| Dec 20, 2022 | $0.54 | USD | ≈3.3% |
| Sep 20, 2022 | $0.54 | USD | ≈3.7% |
| Jun 21, 2022 | $0.54 | USD | ≈4.4% |
| Mar 22, 2022 | $0.54 | USD | ≈3.7% |
| Dec 20, 2021 | $0.53 | USD | ≈3.7% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.07%
Next Report
Oct 29, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 6, 2026 | $1.07 | $1.04 | 2.8% |
| March 31, 2026 | $0.86 | $0.83 | 3.5% | |
| Dec. 31, 2025 | $0.96 | $0.96 | 0.23% | |
| Sept. 30, 2025 | $1.03 | $1.01 | 1.9% | |
| June 30, 2025 | $0.94 | $0.98 | -3.7% | |
| March 31, 2025 | $0.75 | $0.79 | -5.1% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| 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
| 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
| 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
| 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
| 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
| 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 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $10.49 | $9.59 | $9.17 | $8.14 | $7.24 | $7.11 | $8.35 | · | · | $7.27 | |
| Revenue / Share | $20.64 | $18.52 | $15.40 | $14.30 | $12.37 | $10.62 | $11.95 | · | · | $8.82 | |
| Cash Flow / Share | $3.75 | $3.31 | $2.90 | $3.27 | $3.72 | $1.97 | $3.15 | · | · | $2.70 | |
| Cash / Share | · | · | · | · | · | · | · | · | · | $6.23 | |
| Dividend / Share | $2.48 | $2.32 | $2.20 | $2.16 | $2.12 | $2.08 | $2.00 | · | · | $0.62 | |
| EPS (TTM) | $2.35 | $3.18 | $3.76 | $3.25 | $2.69 | $1.60 | $2.37 | · | · | $1.45 |
Growth Rates
| 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% | · | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | 2.9% | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| 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
| 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 | · | 328,000,000 | 328,000,000 | 326,000,000 | · | 319,000,000 | 317,000,000 | 314,000,000 | · | 314,000,000 | 312,000,000 | 309,000,000 | · | 306,000,000 | |
| Shares (Diluted) | 460,000,000 | 459,000,000 | · | 457,000,000 | 457,000,000 | 456,000,000 | · | 454,000,000 | 453,000,000 | 453,000,000 | · | 459,000,000 | 458,000,000 | 456,000,000 | · | 454,000,000 | |
| EBITDA | $716M | $606M | · | $663M | $483M | $435M | · | $577M | $663M | $544M | · | $582M | $554M | $447M | · | $561M |
Balance Sheet
| 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
| 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
| 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
| 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
| 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 |
Per Share
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $11.03 | $10.78 | · | $10.31 | $10.12 | $9.51 | · | $10.00 | $9.68 | $9.38 | · | $9.15 | $9.14 | $8.28 | · | $7.56 | |
| Revenue / Share | $5.48 | $4.93 | · | $5.36 | $5.27 | $4.62 | · | $5.05 | $4.59 | $3.84 | · | $4.00 | $3.88 | $3.49 | · | $3.80 | |
| Cash Flow / Share | · | $0.49 | · | · | · | $0.26 | · | · | · | $0.33 | · | · | · | $0.21 | · | · | |
| Dividend / Share | $0.65 | $0.65 | $0.62 | $0.62 | $0.62 | $0.62 | $0.58 | $0.58 | $0.58 | $0.58 | $0.55 | $0.55 | $0.55 | $0.55 | $0.54 | $0.54 | |
| EPS (TTM) | $3.71 | $2.83 | · | $2.81 | $2.64 | $2.95 | · | $3.98 | $3.98 | $3.87 | · | $2.90 | $3.28 | $3.27 | · | $3.09 |
Valuation (TTM)
| 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 | $9.70B | $9.59B | · | $9.26B | $9.11B | $8.78B | · | $7.93B | $7.48B | $7.17B | · | $6.89B | $6.78B | $6.64B | · | $6.36B | |
| Net Income TTM | $1.70B | $1.30B | · | $1.28B | $1.20B | $1.34B | · | $1.81B | $1.82B | $1.77B | · | $1.33B | $1.49B | $1.49B | · | $1.41B | |
| 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 | 19.5 | 26.1 | · | 22.8 | 25.1 | 22.6 | · | 18.1 | 17.7 | 20.5 | · | 23.0 | 23.6 | 20.5 | · | 17.2 | |
| P/S | 2.6 | 2.7 | · | 2.3 | 2.4 | 2.5 | · | 2.9 | 3.0 | 3.5 | · | 3.1 | 3.6 | 3.1 | · | 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 | · | · | |
| Dividend Yield | 4.5% | 4.4% | · | 5.2% | 4.9% | 4.8% | · | 4.3% | 4.5% | 4.0% | · | 4.7% | 4.0% | 4.7% | · | 6.0% | |
| Earnings Yield | 5.1% | 3.8% | · | 4.4% | 4.0% | 4.4% | · | 5.5% | 5.7% | 4.9% | · | 4.3% | 4.2% | 4.9% | · | 5.8% | |
| Payout Ratio | · | 63.6% | · | · | · | 118.5% | · | · | · | 74.7% | · | · | · | 87.7% | · | · | |
| Annual Payout | $1.14B | $1.13B | · | $1.09B | $1.07B | $1.05B | · | $1.02B | $1.00B | $992M | · | $984M | $978M | $973M | · | $972M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 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 |
| Metric | 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 |
| Metric | 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 |
Institutional owners (13F) 641 filers · $25.8B total · As of Sept. 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.
Holders
641
Value held
$25.8B
New positions
96
Exited positions
47
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 96 (-24 vs prior Q) | 47 (-4 vs prior Q) | 249 (+15 vs prior Q) | 169 (+30 vs prior Q) | +23.1M |
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 | 12.33% | Shares |
| PERSHING SQUARE INC. | $1,872,301,303 | 25,821,284 | 7.26% | Shares |
| Pershing Square Capital Management, L.P. | $1,673,501,194 | 22,645,483 | 6.49% | Shares |
| ROYAL BANK OF CANADA | $1,467,336,000 | 20,236,317 | 5.69% | Shares |
| EdgePoint Investment Group Inc. | $1,244,257,515 | 17,171,552 | 4.83% | Shares |
| BlackRock, Inc. | $1,104,238,091 | 15,228,770 | 4.28% | Shares |
| VANGUARD GROUP INC | $1,090,683,705 | 15,983,585 | 4.23% | Shares |
| BANK OF MONTREAL /CAN/ | $818,485,976 | 11,295,632 | 3.17% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $760,835,556 | 10,489,509 | 2.95% | Shares |
| FMR LLC | $610,494,110 | 8,417,025 | 2.37% | Shares |
| GOLDMAN SACHS GROUP INC | $530,090,862 | 7,310,590 | 2.06% | Shares |
| Fiera Capital Corp | $446,650,481 | 6,168,961 | 1.73% | Shares |
| CIBC WORLD MARKET INC. | $442,778,617 | 6,106,449 | 1.72% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $436,078,222 | 5,854,909 | 1.69% | Shares |
| MORGAN STANLEY | $351,269,463 | 4,844,426 | 1.36% | Shares |
| BANK OF AMERICA CORP /DE/ | $345,869,475 | 4,769,956 | 1.34% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $306,136,057 | 4,224,874 | 1.19% | Shares |
| TD Asset Management Inc | $301,637,396 | 4,160,083 | 1.17% | Shares |
| PLATINUM PARAMOUNT INVESTMENT LTD. | $298,661,729 | 4,118,904 | 1.16% | Shares |
| NORGES BANK | $276,981,859 | 3,821,569 | 1.07% | Shares |
| NATIONAL BANK OF CANADA /FI/ | $262,523,289 | 3,649,628 | 1.02% | Shares |
| Invesco Ltd. | $246,850,651 | 3,404,367 | 0.96% | Shares |
| STATE STREET CORP | $246,501,652 | 3,368,699 | 0.96% | Shares |
| NOMURA HOLDINGS INC | $244,563,033 | 3,372,818 | 0.95% | Shares |
| Canoe Financial LP | $243,102,095 | 3,354,908 | 0.94% | Shares |
| 1832 Asset Management L.P. | $232,455,168 | 3,205,836 | 0.90% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $224,951,708 | 3,101,391 | 0.87% | Shares |
| FIL Ltd | $217,170,764 | 2,994,122 | 0.84% | Shares |
| CITADEL ADVISORS LLC | $212,300,216 | 2,927,875 | 0.82% | Shares |
| JARISLOWSKY, FRASER Ltd | $209,386,324 | 3,263,219 | 0.81% | Shares |
| Davis Selected Advisers | $203,046,140 | 2,800,345 | 0.79% | Shares |
| Vanguard Global Advisers, LLC | $190,726,176 | 2,629,509 | 0.74% | Shares |
| Capital Research Global Investors | $182,311,820 | 2,514,299 | 0.71% | Shares |
| TD Waterhouse Canada Inc. | $176,997,748 | 2,473,606 | 0.69% | Shares |
| Blue Sparrow, LLC /DE | $173,298,900 | 2,390,000 | 0.67% | Shares |
| MACKENZIE FINANCIAL CORP | $161,871,088 | 1,573,550 | 0.63% | Shares |
| UBS Group AG | $159,868,381 | 2,204,777 | 0.62% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $143,316,664 | 1,977,662 | 0.56% | Shares |
| LONDON CO OF VIRGINIA | $142,168,166 | 1,960,645 | 0.55% | Shares |
| TORONTO DOMINION BANK | $137,983,235 | 1,904,305 | 0.54% | Shares |
| Cullen Capital Management, LLC | $128,349,582 | 1,770,095 | 0.50% | Shares |
| JPMORGAN CHASE & CO | $125,598,117 | 1,714,650 | 0.49% | Shares |
| Legal & General Group Plc | $115,658,959 | 1,595,151 | 0.45% | Shares |
| Burgundy Asset Management Ltd. | $110,266,739 | 1,742,299 | 0.43% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $104,472,367 | 1,440,679 | 0.41% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $101,781,084 | 1,406,008 | 0.39% | Shares |
| Corvex Management LP | $91,738,057 | 1,265,178 | 0.36% | Shares |
| D. E. Shaw & Co., Inc. | $82,182,471 | 1,133,719 | 0.32% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $80,312,742 | 1,107,644 | 0.31% | Shares |
| Bank of New York Mellon Corp | $78,677,551 | 1,085,058 | 0.31% | Shares |
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 | Passive investment | 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.
Company insiders 47 insiders · 21 officers · 25 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Joshua Kobza | Chief Executive Officer | July 7, 2026 A | 960,769 | 0 | 5 | $-17,048,284 |
| 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 | 12,139 | 0 | 7 | $-7,696,934 |
| Matthew Dunnigan | CFO | Feb. 23, 2024 A | 132,076 | 0 | 0 | $0 |
| Peter Perdue | President, Popeyes-US & Canada | July 7, 2026 A | 43,627 | 0 | 5 | $-353,059 |
| Thiago T Santelmo | President, International | July 7, 2026 A | 78,668 | 0 | 6 | $-1,326,560 |
| Jeffrey W Klein | President, Popeyes-US & Canada | Oct. 7, 2025 A | 20,763 | 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 |
| Axel Mr Schwan | Pres., Tim Hortons US & Canada | Sept. 4, 2026 M | 209,908 | 0 | 6 | $-7,593,146 |
| Thomas Benjamin Curtis | Pres., BK US & CA | Aug. 21, 2026 S | 38,216 | 0 | 7 | $-6,829,137 |
| Duncan Fulton | Chief Corporate Officer | July 7, 2026 A | 51,217 | 0 | 5 | $-1,065,912 |
| Jeffrey Housman | Chief People & Services Officer | July 7, 2026 A | 162,077 | 0 | 5 | $-2,503,305 |
| Jacqueline Friesner | SVP, Controller and Principal Accounting Officer | July 7, 2026 A | 165,727 | 0 | 6 | $-2,738,685 |
| Jill Granat | EVP, General Counsel and Secretary | July 7, 2026 A | 479,845 | 0 | 6 | $-5,030,799 |
| 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. 31, 2025 A | 4,025 | 0 | 0 | $0 |
| Cristina Farjallat | Director | Dec. 31, 2025 A | 5,029 | 0 | 0 | $0 |
| Thecla Sweeney | Director | Dec. 31, 2025 A | 7,649 | 0 | 0 | $0 |
| Marc Lemann | Director | Dec. 31, 2025 A | 6,708 | 0 | 0 | $0 |
| Jason Melbourne | Director | Dec. 31, 2025 A | 10,568 | 0 | 0 | $0 |
| Stirum Maximilien De Limburg | Director | Dec. 31, 2025 A | 10,804 | 0 | 0 | $0 |
| Ali Hedayat | Director | Dec. 31, 2025 A | 21,871 | 0 | 2 | $-509,400 |
| Daniel S Schwartz | Director | Dec. 31, 2025 A | 12,279 | 0 | 0 | $0 |
| Alexandre Behring | Director | Dec. 31, 2025 A | 2,036 | 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
ETF ownership Held by 57 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 | 2.95% | 506,060 NS | July 31, 2026 | N-PORT |
| DINT · Davis Fundamental ETF Trust | 1.97% | 77,462 NS | July 31, 2026 | N-PORT |
| PID · Invesco Exchange-Traded Fund Trust | 1.78% | 212,207 SH | Oct. 2, 2026 | Daily |
| GURU · Global X Funds | 1.07% | 8,816 NS | July 31, 2026 | N-PORT |
| EWC · iShares, Inc. | 0.80% | 714,610 SH | Sept. 11, 2026 | Daily |
| BBCA · J.P. Morgan Exchange-Traded Fund Tr… | 0.78% | 1,150,328 NS | July 31, 2026 | N-PORT |
| QLV · FlexShares Trust | 0.51% | 11,340 NS | July 31, 2026 | N-PORT |
| IYC · iShares Trust | 0.46% | 68,686 SH | Sept. 11, 2026 | Daily |
| VIGI · VANGUARD WHITEHALL FUNDS | 0.45% | 567,086 SH | Aug. 19, 2026 | Daily |
| IWP · iShares Trust | 0.44% | 1,108,245 SH | Sept. 11, 2026 | Daily |
| RXI · iShares Trust | 0.42% | 13,723 SH | Sept. 11, 2026 | Daily |
| FXD · First Trust Exchange-Traded AlphaDE… | 0.29% | 10,616 NS | July 31, 2026 | N-PORT |
| DIHP · Dimensional ETF Trust | 0.29% | 246,630 NS | July 31, 2026 | N-PORT |
| RECS · Columbia ETF Trust I | 0.24% | 187,611 NS | July 31, 2026 | N-PORT |
| IWR · iShares Trust | 0.19% | 1,406,347 SH | Sept. 11, 2026 | Daily |
| FEUS · FlexShares Trust | 0.16% | 2,475 NS | July 31, 2026 | N-PORT |
| VYMI · VANGUARD WHITEHALL FUNDS | 0.14% | 388,139 SH | Aug. 19, 2026 | Daily |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 15,162 NS | July 31, 2026 | N-PORT |
| WLDR · Two Roads Shared Trust | 0.13% | 1,597 NS | July 31, 2026 | N-PORT |
| DXIV · Dimensional ETF Trust | 0.11% | 3,100 NS | July 31, 2026 | N-PORT |
| IWS · iShares Trust | 0.11% | 219,837 SH | Sept. 11, 2026 | Daily |
| PTIN · Pacer Funds Trust | 0.11% | 2,632 NS | July 31, 2026 | N-PORT |
| DFSI · Dimensional ETF Trust | 0.10% | 15,759 NS | July 31, 2026 | N-PORT |
| DFAI · Dimensional ETF Trust | 0.10% | 238,862 NS | July 31, 2026 | N-PORT |
| JFLI · J.P. Morgan Exchange-Traded Fund Tr… | 0.10% | 645 NS | July 31, 2026 | N-PORT |
| BKIE · BNY Mellon ETF Trust | 0.09% | 16,038 NS | July 31, 2026 | N-PORT |
| PABD · iShares Trust | 0.09% | 3,796 SH | Sept. 10, 2026 | Daily |
| IDEV · iShares Trust | 0.08% | 344,658 SH | Sept. 11, 2026 | Daily |
| IMFL · Invesco Exchange-Traded Self-Indexe… | 0.08% | 12,350 SH | Oct. 2, 2026 | Daily |
| VEA · VANGUARD TAX-MANAGED FUNDS | 0.08% | 3,347,366 SH | Aug. 19, 2026 | Daily |
| VSGX · VANGUARD WORLD FUND | 0.07% | 68,727 SH | Aug. 19, 2026 | Daily |
| DFIC · Dimensional ETF Trust | 0.07% | 136,431 NS | July 31, 2026 | N-PORT |
| ACWX · iShares Trust | 0.06% | 105,176 SH | Sept. 11, 2026 | Daily |
| RODM · Lattice Strategies Trust | 0.06% | 13,441 NS | July 31, 2026 | N-PORT |
| VEU · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.06% | 802,160 SH | Aug. 19, 2026 | Daily |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.06% | 6,430 SH | Oct. 2, 2026 | Daily |
| IXUS · iShares Trust | 0.06% | 444,979 SH | Sept. 11, 2026 | Daily |
| PXF · Invesco Exchange-Traded Fund Trust … | 0.05% | 22,341 SH | Oct. 2, 2026 | Daily |
| VXUS · VANGUARD STAR FUNDS | 0.05% | 5,027,547 SH | Aug. 19, 2026 | Daily |
| IWF · iShares Trust | 0.05% | 737,977 SH | Sept. 11, 2026 | Daily |
| TLTD · FlexShares Trust | 0.04% | 3,894 NS | July 31, 2026 | N-PORT |
| DFAX · Dimensional ETF Trust | 0.04% | 64,983 NS | July 31, 2026 | N-PORT |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.04% | 57,070 SH | Aug. 19, 2026 | Daily |
| VONG · VANGUARD SCOTTSDALE FUNDS | 0.04% | 311,422 SH | Aug. 19, 2026 | Daily |
| IWB · iShares Trust | 0.04% | 237,619 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.04% | 94,440 SH | Sept. 10, 2026 | Daily |
| IWD · iShares Trust | 0.03% | 325,257 SH | Sept. 11, 2026 | Daily |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.03% | 88,489 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.03% | 28,791 SH | Aug. 19, 2026 | Daily |
| TOK · iShares Trust | 0.03% | 848 SH | Sept. 10, 2026 | Daily |
| URTH · iShares, Inc. | 0.03% | 28,960 SH | Sept. 11, 2026 | Daily |
| VOXP · Advisors Series Trust | 0.03% | 21 NS | July 31, 2026 | N-PORT |
| CRBN · iShares Trust | 0.02% | 3,681 SH | Sept. 11, 2026 | Daily |
| ACWI · iShares Trust | 0.02% | 99,720 SH | Sept. 10, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.02% | 287,692 SH | Aug. 19, 2026 | Daily |
| OMFL · Invesco Exchange-Traded Self-Indexe… | 0.01% | 9,207 SH | Oct. 2, 2026 | Daily |
| FTLS · First Trust Exchange-Traded Fund III | -0.22% | -73,024 NS | July 31, 2026 | N-PORT |
QSR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 18 analysts
BUY
Median target
$85.00
+21.6%
4 22.2%
Strong Buy
8 44.4%
Buy
6 33.3%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
24 analysts · 2026-10-03Mean target $86.17 +23.3%
← Below all targets
Current price $69.91
Low$78.00
Mean$86.17
High$104.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| 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 | $7.17B | 15.6 | 7.9% | 8.4% | 118.3% | · |
Latest News Recent headlines mentioning this company
Burger King Is Eating McDonald's Lunch. Here's What the Golden Arches Need to Do Now.
Nasdaq · 1 week ago
Upscale McDonald's rival quietly closed over a dozen locations
Yahoo Finance · 4 months, 2 weeks ago
After a big win in the burger showdown, Burger King eyes taking on McDonald's Egg McMuffin
Yahoo Finance · 4 months, 3 weeks ago
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
No open signal right now — no card is filled, and that's honest.
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Source: SEC 10-Q filed Aug 6, 2026