Restaurant Brands International Inc. — Cyborg Score 6/10
Solid
Quick-Service Restaurants (QSR) / Fast Food
Strategic Profile
The company is the fifth-largest operator of fast food restaurants in the world after Subway, McDonald's, Starbucks and Yum! Brands. RBI primarily makes money through a highly-franchised business model, collecting royalties and rental income from its vast network of global restaurants, plus significant revenue from its supply chain operations, particularly for Tim Hortons. Recent strategic moves include forming a joint venture for Burger King China to accelerate expansion, with CPE owning roughly 83% and Restaurant Brands retaining a minority stake of about 17%.
Cyborg Score Rationale
The company demonstrates strong profitability with an operating margin of 25.87% and a net margin of 9.95%. However, recent challenges include slowed Burger King remodeling progress in the U.S., which will no longer meet its 2028 deadline to modernize 85% of its domestic locations, disappointing investors. Popeyes faced headwinds with same-store sales falling 4.8%.
Top Insights
Strong international same-store sales growth of 3.1% in Q4 2025 fueled company-wide performance.
Tim Hortons reported same-store sales growth of 2.9% and accounted for 46% of Restaurant Brands' overall revenue during the quarter.
Burger King faced inflationary pressures with beef costs climbing 20% in 2025, pressuring franchisee profits.
The company demonstrated robust revenue growth over the past three years with a growth rate of 18.6%.
Named Competitors
McDonald's — Global hamburger and fast-food leader
Yum! Brands — Multi-brand operator of KFC, Taco Bell, and Pizza Hut
Starbucks — Global coffee and beverage leader
Subway — Global sandwich and quick-service chain
Recent Developments
(January 2026) Burger King China joint venture closed with CPE as majority owner
(February 2026) Leadership changes announced with Peter Perdue tapped to lead Burger King U.S./Canada operations
(February 2026) Q4 2025 earnings topped expectations with international strength, though Burger King remodeling targets revised downward
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