CluenexRestaurant Brands International QSR
Restaurant Brands International scores average on business quality (5.8 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Restaurant Brands International does
Restaurant Brands International operates global fast-food chains including Burger King, Tim Hortons, and Popeyes, making money primarily through franchise royalties and property leases paid by store operators.
- What it does best
RBI scales massive global franchise networks across multiple iconic brands like Burger King and Tim Hortons. Its operating margin of 27.0% beats Starbucks at 10.4%, extracting high-margin fees from over ten thousand locations while shifting capital costs onto local franchise owners.
- The main risk
A heavy debt load threatens stability if system-wide sales stall. With total debt at $13.6 billion and an interest coverage ratio of just 3.7x, any major downturn in franchise royalties directly squeezes the cash needed to service fixed interest obligations.
Quality, check by check
Scored against its own industry, from company filings.
Operating margin stands at 27.0% and free cash flow margin hits 16.4%, landing in the top quartile of its sector at the 81st percentile. The asset-light franchise model expands profitability efficiently as store counts scale.
Global brand recognition and massive franchise scale lock in operators and consumers. Its operating margin sits in the 93rd percentile of its sector, backed by real estate and royalty networks that rivals cannot easily replicate.
Revenue growth hit 12.2%, pulling ahead of its historical pace as system-wide expansions and Popeyes additions push volume higher across core restaurant segments.
Total debt sits at $13.6B against $1.2B in cash, yielding an interest coverage ratio of 3.7x: earnings barely cover debt servicing costs. Free cash flow reached $1.6B, showing softness as leverage remains heavy.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
2 sold $9.8M outside pre-planned sales.
Our sealed record on QSR
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Restaurant Brands International scores average on the Cluenex quality check (5.8 of 10), measured against its own industry. Profitability is strong, moat fair, growth fast and financial health weak.
In the last 90 days of SEC Form 4 filings: 2 sold $9.8M outside pre-planned sales.
Oct 29, 2026, before the open.
See QSR today
- Today's verdict on QSR, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “Restaurant Brands International (QSR)”, https://cluenex.com/stocks/qsr/, data as of Oct 10, 2026.