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Restaurant Brand SEC Filings

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Welcome to our dedicated page for Restaurant Brand SEC filings (Ticker: RSTRF), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.

The SEC filings page for Restaurant Brands International Limited Partnership (RSTRF) provides access to the partnership’s regulatory disclosures as a registrant under the Securities Exchange Act of 1934. Form 8-K filings show how Restaurant Brands International Limited Partnership is integrated into the broader Restaurant Brands International Inc. ("RBI") structure through exchangeable limited partnership units and related equity transactions.

Current reports on Form 8-K describe several key areas. One filing outlines an underwriting agreement involving Restaurant Brands International Inc., an underwriter, a selling shareholder affiliated with 3G Capital Partners Ltd., and a forward counterparty. The transaction concerns common shares that the selling shareholder will receive upon exchange of Class B exchangeable limited partnership units of Restaurant Brands International Limited Partnership. The filing explains that RBI will not sell any common shares in the offering and will not receive any proceeds from the sale, while the selling shareholder is expected to receive cash upon settlement of a forward sale agreement.

Another Form 8-K focuses on a joint venture between Restaurant Brands International Inc. and CPE Alder Investment Limited relating to Burger King China. The filing reports that CPE will invest new primary capital into the joint venture, that RBI will retain a minority interest and a board seat, and that the Burger King China operations are classified as held for sale and reported in discontinued operations. It also notes that, due to the decision to sell a significant portion of the Burger King China business and the valuation implied by the sale, RBI expects a non-cash charge on its Burger King China holdings.

Additional Form 8-K disclosures reference press releases and supplemental financial and operational information regarding results for specified periods, furnished as exhibits. On this filings page, users can review such 8-Ks, exhibits, and related disclosures. AI-powered tools can help summarize the contents of these filings, highlight material agreements, and explain the implications of items such as exchangeable units, forward sale agreements, joint ventures, discontinued operations, and non-cash charges.

Rhea-AI Summary

Restaurant Brands International Limited Partnership files its 2025 annual report, highlighting consolidated global system-wide sales of $46,762 million and 33,041 restaurants in more than 120 countries and territories as of December 31, 2025. Over 95% of locations are franchised, spanning Tim Hortons, Burger King, Popeyes, and Firehouse Subs.

The year reflects integration of the Carrols Acquisition, which added a large portfolio of Burger King restaurants the Partnership plans to remodel and refranchise, and the classification and subsequent joint venture sale of Burger King China, now held via a 17% stake in a new JV. Six reportable segments cover home-market brands, international operations, and restaurant holdings.

Management emphasizes growth through quality, service, and convenience, with heavy investment in digital ordering, loyalty, supply chain, and advertising. Key risks include softer consumer spending, intense QSR competition, commodity and labor cost inflation, franchise execution, cybersecurity and data-privacy regulation, climate and sustainability obligations, and substantial outstanding debt of $13,372 million.

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Rhea-AI Summary

Restaurant Brands International Inc. reported mixed fourth quarter and full-year 2025 results, with growth in sales and non-GAAP earnings but weaker GAAP profitability. Full-year total revenues rose to $9,434 million from $8,406 million, while consolidated system-wide sales reached $46,762 million with 5.3% growth and comparable sales up 2.4%.

Net income from continuing operations declined to $1,201 million versus $1,445 million, and diluted EPS from continuing operations fell to $2.63 from $3.18, partly reflecting a $114 million non-cash charge related to Burger King China classified in discontinued operations. However, Adjusted Operating Income increased to $2,584 million and Adjusted EBITDA to $2,970 million, with organic AOI growth of 8.3% and organic Adjusted EPS growth of 12.4%. Net leverage improved to 4.2x from 4.6x.

The company returned approximately $1.1 billion of capital to shareholders in 2025 and declared a first-quarter 2026 dividend of $0.65 per share, with a 2026 annual dividend target of $2.60. Management issued 2026 guidance including Segment G&A (excluding RH) of $600–620 million, RH Segment G&A of about $100 million, Adjusted Interest Expense, net of $500–520 million, and around $400 million of total capex and cash inducements. RBI reiterated its 2024–2028 algorithm of 3%+ comparable sales and 8%+ organic Adjusted Operating Income growth, aiming to reach 5%+ net restaurant growth toward the end of the period.

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Rhea-AI Summary

Restaurant Brands International Inc. entered into an underwriting and forward sale arrangement for up to 17,626,570 common shares, all to be sold by HL1 17 LP, an affiliate of 3G Capital. The shares relate to an exchange of an equal number of Class B exchangeable units of Restaurant Brands International Limited Partnership into common shares.

The forward counterparty agreed to sell the shares to the underwriter at $68.72 per share, with the selling shareholder expected to physically settle the forward and receive cash at that price, subject to adjustments. RBI will not sell shares and will not receive proceeds from this transaction. The offering is expected to close on November 17, 2025, with forward settlement expected on or before December 3, 2025.

HL1 17 LP, 3G Restaurant Brands Holdings LP, and an affiliate agreed to a 45‑day lock‑up, subject to exceptions. In connection with the forward, the forward counterparty or its affiliates agreed to borrow and sell 9,785,784 shares in the offering and may sell up to an additional 7,840,786 shares tied to indicated interest from two investors.

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Restaurant Brands International announced a joint venture with CPE to operate Burger King China. CPE will invest $350 million of new primary capital at closing and hold approximately 83% of the Burger King China JV; RBI will retain approximately 17% and a JV board seat. RBI will not receive cash proceeds, as funds remain in the JV to support growth.

The company expects to record a non-cash impairment charge of about $150 million on its Burger King China holdings due to the decision to sell a significant portion and the valuation implied by the transaction. A 20‑year master development agreement grants exclusive China development rights with targets to grow from about 1,250 restaurants today to roughly double by 2030 and to more than 4,000 by 2035. Closing is expected in the first quarter of 2026, subject to customary regulatory approvals.

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Restaurant Brands International Limited Partnership reported Q3 2025 results with total revenues of $2,449 million, up from $2,291 million a year ago. Income from operations rose to $663 million from $577 million, and net income increased to $436 million from $357 million.

Earnings per Class A common unit were $1.51 (including $1.52 from continuing operations and a $0.01 loss from discontinued operations). Partnership exchangeable units earned $0.96. Supply chain sales were $769 million and franchise and property revenues were $778 million, reflecting solid activity across brands. As of September 30, 2025, the company operated 32,423 restaurants across more than 120 countries.

The balance sheet showed cash and cash equivalents of $1,206 million, long‑term debt of $13,415 million (net of current portion), and total assets of $25,669 million. Year‑to‑date cash flow from operating activities from continuing operations was $1,159 million.

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Restaurant Brands International Limited Partnership furnished quarterly materials. The company provided a press release and supplemental financial and operational information for the three and nine months ended September 30, 2025, furnished as Exhibit 99.

The materials were submitted under Item 2.02 (Results of Operations and Financial Condition). A cover page Inline XBRL data file was included as Exhibit 104. The filing was signed by Chief Financial Officer Sami Siddiqui on October 30, 2025.

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FAQ

What is the current stock price of Restaurant Brand (RSTRF)?

The current stock price of Restaurant Brand (RSTRF) is $68.05 as of February 13, 2026.

What is the market cap of Restaurant Brand (RSTRF)?

The market cap of Restaurant Brand (RSTRF) is approximately 21.2B.

RSTRF Rankings

RSTRF Stock Data

21.17B
109.36M
Restaurants
Consumer Cyclical
Link
Canada
Toronto

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