Restaurant Brands International (QSR)

The group is primarily a franchisor, which means most of its restaurants are operated by independent franchisees rather than by the company directly. This asset-light model allows Restaurant Brands to expand its store base while generating revenue from royalties, franchise fees, property-related income, advertising contributions, and related services. It also records supply chain sales within Tim Hortons and revenue from company-operated restaurants where applicable.

As of year-end 2025, Restaurant Brands produced about $47 billion in systemwide sales across more than 33,000 restaurants in over 120 markets. Its brand estate included Burger King, Tim Hortons, Popeyes, and Firehouse Subs locations in the US and Canada, alongside more than 16,000 franchised international restaurants. Burger King provides the company’s broadest global footprint, Tim Hortons anchors its Canadian coffee and bakery strength, Popeyes gives it a fast-growing chicken platform, and Firehouse Subs adds a differentiated sandwich concept.

The company’s performance is shaped by restaurant traffic, menu innovation, franchisee economics, international development, commodity costs, and brand marketing. Its scale, multi-brand structure, and franchised operating model make it a major participant in the global quick-service restaurant industry.