Restaurant Brands International Limited Partnership — Cyborg Score 7/10
Strong
Quick service restaurants (QSR)
Strategic Profile
Over 95% of locations are franchised, providing a capital-efficient model with diversified brand exposure across coffee/breakfast (Tim Hortons), burgers (Burger King), fried chicken (Popeyes), and premium subs (Firehouse Subs). Q1 2026 revenues reached $2.26 billion, driven by higher supply chain sales and franchise and property revenues.
Cyborg Score Rationale
Q1 2026 net income from continuing operations more than doubled to $445 million from $223 million. Recent earnings delivered $0.98 EPS and $2.26 billion in revenue (May 2026). The franchise-heavy model and global scale provide resilience, though stock declined 4.58% following May 2026 earnings announcement, signaling investor caution.
Top Insights
Net income doubled in Q1 2026 as operating income reached $606 million, supported by foreign-exchange gains and improved segment profitability
2025 results reflect integration of Carrols Acquisition, which added substantial Burger King restaurants planned for remodeling and refranchising
Management disclosed an expected $170 million tax benefit in Q2 2026, which may further boost after-tax earnings
Company restructured Burger King China with a 17% stake in new JV, reducing direct exposure in challenging market
Named Competitors
KFC/Taco Bell/Pizza Hut — Global quick service restaurant portfolio with fried chicken, Mexican, and pizza brands
McDonald's — World's largest fast food burger chain
IHOP/Applebee's — Casual dining and family restaurant brands
Recent Developments
(May 2026) Q1 2026 earnings: $0.98 EPS, $2.26B revenue; net income doubled YoY