Analyst Consensus ?
ConsensusBuy43 ratings
Bullish2660.5%
Neutral1534.9%
Bearish24.6%
Restaurant Brands International Inc. · QSR · FY2025 Q4 · Calendar Q1 2026
RBI posts 2025 growth, while Popeyes execution remains a watchpoint
The supplied FY2025 analysis supports a measured case for business resilience: comparable-sales and organic adjusted operating income growth were reported alongside strength in international markets and Tim Hortons. The case is tempered by Popeyes' turnaround challenge, commodity-cost exposure, and execution demands across the portfolio.
Reported Before market openNYSEConsumer Cyclical
$25.25B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.96
Consensus $0.95
EPS surprise
+1.4%
Reported versus consensus
Reported revenue
$2.47B
Consensus $2.41B
Revenue surprise
+2.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-6.2%
Event window
SPY move
-1.5%
Same window
Abnormal move
-4.6%
Stock minus SPY
Volume
3.5×
Versus trailing sessions
Subsequent drift
+9.5%
Up to 20 sessions
QSRSPY benchmark
Ask FN2 about QSR FY2025 Q4
Transcript, numbers and history already loaded
Why did QSR fall 6.2% after beating EPS estimates in FY2025 Q4?What changed in QSR's guidance and outlook in FY2025 Q4?Give me the bull and bear case for QSR after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management's FY2025 account emphasized international growth, Tim Hortons beverage and loyalty momentum, and Burger King U.S. marketing and remodel progress. Popeyes remained the clearest operational weak spot, with leadership and operational changes underway.
Guidance delta
Guidance sentiment was maintained. Management reiterated 2026 targets of 8% organic adjusted operating income growth and approximately 3% same-store sales growth.
Key takeaways
- FY2025 comparable sales and organic adjusted operating income grew, according to the supplied analysis.
- International markets were a notable source of strength across several regions.
- Tim Hortons highlighted cold-beverage sales and loyalty-program contributions.
- Popeyes continues to require operational improvement and a recovery in comparable sales.
Management priorities
- Advance Burger King remodels and modern-image upgrades.
- Improve Popeyes operations and franchisee execution.
- Build Tim Hortons supply-chain margins and digital engagement.
- Integrate Burger King China joint-venture operations and royalties while pursuing expansion.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$73.29Current
$47.74Low
$79.72Average
$95High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 2, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Hold | Hold | Maintain | Oct 29, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Oct 20, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Oct 15, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Sep 29, 2026 |
| Argus Research | Hold | Buy | Downgrade | Sep 25, 2026 |
| Guggenheim | Buy | Buy | Maintain | Sep 18, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Aug 7, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Aug 7, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Aug 7, 2026 |
| Deutsche Bank | Buy | Buy | Maintain | Jul 9, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | May 7, 2026 |
| Barclays | Overweight | Overweight | Maintain | May 7, 2026 |
| Baird | Neutral | Neutral | Maintain | May 7, 2026 |
| UBS | Buy | Buy | Maintain | May 4, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Apr 21, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Apr 20, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Mar 18, 2026 |
| Truist Securities | Buy | Buy | Maintain | Mar 2, 2026 |
| Stifel | Buy | Hold | Upgrade | Mar 2, 2026 |
| B of A Securities | Underperform | Underperform | Maintain | Jul 18, 2025 |
| CIBC | Outperform | Outperform | Maintain | May 9, 2025 |
| TD Securities | Hold | Hold | Maintain | Feb 25, 2025 |
| Loop Capital | Buy | Buy | Maintain | May 1, 2024 |
| BMO Capital | Outperform | Outperform | Maintain | Feb 14, 2024 |
| Stephens & Co. | Equal Weight | Equal Weight | Maintain | Feb 13, 2024 |
| Bernstein | Outperform | Market Perform | Upgrade | Nov 30, 2023 |
| Northcoast Research | Buy | Neutral | Upgrade | Aug 22, 2023 |
| Jefferies | Hold | Hold | Maintain | Jul 20, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | May 3, 2023 |
| Cowen & Co. | Perform | Market Perform | Maintain | Feb 27, 2023 |
| Goldman Sachs | Neutral | Sell | Upgrade | Nov 4, 2022 |
| OTR Global | Positive | Mixed | Upgrade | Oct 10, 2022 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Apr 1, 2020 |
| Wolfe Research | Outperform | Outperform | Maintain | Mar 9, 2020 |
| Bank of America | Underperform | Neutral | Downgrade | Jan 8, 2020 |
| Longbow Research | Neutral | Underperform | Upgrade | Sep 30, 2019 |
| Piper Jaffray | Overweight | Overweight | Maintain | Sep 5, 2019 |
| Mizuho | Buy | Buy | Maintain | Mar 16, 2018 |
| Nomura | Buy | Buy | Maintain | Jan 30, 2018 |
| Instinet | Buy | Buy | Maintain | Jul 12, 2017 |
| Sterne Agee CRT | Equal Weight | Equal Weight | Maintain | Feb 17, 2016 |
| Sterne Agee | Equal Weight | Equal Weight | Maintain | Feb 17, 2016 |
| Scotia Howard Weil | Outperform | Outperform | Maintain | Jul 13, 2015 |
Named analyst price targets
Upside is calculated against the persisted current price $73.29. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| BMO Capital | Andrew Strelzik | $91 | $73.01 | +24.2% | Oct 30, 2026 |
| Mizuho Securities | Nick Setyan | $85 | $74.34 | +16.0% | Oct 20, 2026 |
| Morgan Stanley | Brian Harbour | $82 | $72.41 | +11.9% | Oct 15, 2026 |
| Guggenheim | Analyst unavailable | $86 | $73.29 | +17.3% | Sep 18, 2026 |
| Seaport Global | Eric Gonzalez | $88 | $75.51 | +20.1% | Sep 16, 2026 |
| C.L. King | Analyst unavailable | $80 | $72.78 | +9.2% | Aug 10, 2026 |
| Evercore ISI | David Palmer | $88 | $73.22 | +20.1% | Aug 7, 2026 |
| Morgan Stanley | Brian Harbour | $79 | $74.61 | +7.8% | Jul 15, 2026 |
| Deutsche Bank | Lauren Silberman | $85 | $74.08 | +16.0% | Jul 9, 2026 |
| Guggenheim | Gregory Francfort | $85 | $75.38 | +16.0% | May 26, 2026 |
| C.L. King | Analyst unavailable | $81 | $77.66 | +10.5% | May 7, 2026 |
| Wells Fargo | Analyst unavailable | $80 | $76.76 | +9.2% | May 7, 2026 |
| Deutsche Bank | Analyst unavailable | $86 | $76.76 | +17.3% | May 7, 2026 |
| Robert W. Baird | Analyst unavailable | $80 | $77.18 | +9.2% | May 7, 2026 |
| Barclays | Analyst unavailable | $92 | $77.18 | +25.5% | May 7, 2026 |
| RBC Capital | Analyst unavailable | $90 | $78.92 | +22.8% | Apr 21, 2026 |
| Deutsche Bank | Analyst unavailable | $84 | $79.14 | +14.6% | Apr 15, 2026 |
| Stifel Nicolaus | Chris O\'Cull | $90 | $71.71 | +22.8% | Mar 2, 2026 |
| Piper Sandler | Brian Mullan | $84 | $71.71 | +14.6% | Mar 2, 2026 |
| Scotiabank | Analyst unavailable | $71 | $66.44 | -3.1% | Feb 13, 2026 |
| Bernstein | Jeffrey Bernstein | $82 | $66.35 | +11.9% | Feb 13, 2026 |
| Bernstein | Jeffrey Bernstein | $86 | $67.68 | +17.3% | Jan 7, 2026 |
| RBC Capital | Analyst unavailable | $82 | $72.1 | +11.9% | Dec 9, 2025 |
| Argus Research | Analyst unavailable | $85 | $71.77 | +16.0% | Dec 2, 2025 |
| Scotiabank | Analyst unavailable | $74 | $66.72 | +1.0% | Oct 31, 2025 |
| Morgan Stanley | Analyst unavailable | $77 | $67.76 | +5.1% | Oct 21, 2025 |
| Bernstein | Jeffrey Bernstein | $78 | $65.07 | +6.4% | Aug 8, 2025 |
| UBS | Dennis Geiger | $85 | $66.74 | +16.0% | May 5, 2025 |
| Stifel Nicolaus | Chris O'Cull | $68 | $60.88 | -7.2% | Jan 10, 2025 |
| KeyBanc | Eric Gonzalez | $78 | $68.57 | +6.4% | Nov 6, 2024 |
| RBC Capital | Christopher Carril | $95 | $68.91 | +29.6% | Sep 12, 2024 |
| Guggenheim | Gregory Francfort | $74 | $67.4 | +1.0% | Sep 9, 2024 |
| Truist Financial | Jake Bartlett | $86 | $70.81 | +17.3% | Aug 19, 2024 |
| Piper Sandler | Brian Mullan | $75 | $70.51 | +2.3% | Aug 12, 2024 |
| Truist Financial | Jake Bartlett | $87 | $70.03 | +18.7% | Jul 9, 2024 |
| KeyBanc | Eric Gonzalez | $80 | $69.33 | +9.2% | Jun 27, 2024 |
| UBS | Dennis Geiger | $90 | $69.33 | +22.8% | Jun 26, 2024 |
| Goldman Sachs | Christine Cho | $80 | $68.87 | +9.2% | Jun 13, 2024 |
| Deutsche Bank | Lauren Silberman | $90 | $73.22 | +22.8% | May 2, 2024 |
| Loop Capital Markets | Alton Stump | $93 | $73.14 | +26.9% | May 1, 2024 |
| Scotiabank | George Doumet | $81 | $73.97 | +10.5% | Apr 29, 2024 |
| Oppenheimer | Brian Bittner | $83 | $67.69 | +13.2% | Aug 28, 2023 |
| Morgan Stanley | Brian Harbour | $74 | $66.08 | +1.0% | Feb 15, 2023 |
| Oppenheimer | Brian Bittner | $81 | $67.15 | +10.5% | Feb 10, 2023 |
| Citigroup | Analyst unavailable | $72 | $67.87 | -1.8% | Feb 7, 2023 |
| Barclays | Analyst unavailable | $80 | $64.7 | +9.2% | Jan 5, 2023 |
| RBC Capital | Analyst unavailable | $80 | $68.17 | +9.2% | Nov 22, 2022 |
| Morgan Stanley | Analyst unavailable | $52 | $52.28 | -29.0% | Jul 18, 2022 |
| Morgan Stanley | Analyst unavailable | $56 | $52.97 | -23.6% | May 5, 2022 |
| RBC Capital | Analyst unavailable | $68 | $55.16 | -7.2% | May 4, 2022 |
| Stifel Nicolaus | Analyst unavailable | $58 | $55.16 | -20.9% | May 4, 2022 |
| UBS | Dennis Geiger | $61.27 | $56.99 | -16.4% | Feb 10, 2022 |
| Bank of America Securities | Sara Senatore | $64 | $58.96 | -12.7% | Jan 11, 2022 |
| Piper Sandler | Nicole Miller Regan | $47.74 | $59.57 | -34.9% | Jan 3, 2022 |
| Loop Capital Markets | Alton Stump | $47.74 | $58.76 | -34.9% | Dec 23, 2021 |
| Guggenheim | Gregory Francfort | $63 | $56.48 | -14.0% | Nov 16, 2021 |
| Credit Suisse | Lauren Silberman | $73 | $56.48 | -0.4% | Nov 16, 2021 |
| Oppenheimer | Brian Bittner | $76 | $56.57 | +3.7% | Oct 26, 2021 |
| Wells Fargo | Jon Tower | $77 | $57.76 | +5.1% | Oct 25, 2021 |
| BMO Capital | Peter Sklar | $63 | $57.76 | -14.0% | Oct 25, 2021 |
| Goldman Sachs | Jared Garber | $59 | $59.86 | -19.5% | Jul 19, 2021 |
Track every rating change on QSR the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationRestaurant Brands International Inc. (RBI), a prominent quick-service restaurant enterprise, maintains its headquarters in Toronto, Canada. Established in 1954, the company operates globally, managing and franchising four distinct and widely recognized brands: Tim Hortons (TH), Burger King (BK), Popeyes Louisiana Kitchen (PLK), and Firehouse Subs (FHS). Through its Tim Hortons segment, RBI offers a diverse menu at its coffee, tea, and donut establishments. This includes a selection of hot and cold specialty beverages like espresso-based drinks, a variety of freshly baked goods such as donuts, Timbits, bagels, muffins, cookies, and pastries, alongside savory options like grilled paninis, classic sandwiches, wraps, and soups.…
Historical context
All QSR earningsConsumer Cyclical peers this season
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Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
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- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
Get the QSR recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-02T13:20:49.108001+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-02T13:20:49.105290+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-02. For educational purposes only; not investment advice.