WallStSmart
QSR

Restaurant Brands International Inc

NYSE: QSR · CONSUMER CYCLICAL · RESTAURANTS

$78.70
+0.64% today

Updated 2026-04-29

Market cap
$35.94B
P/E ratio
29.92
P/S ratio
3.81x
EPS (TTM)
$2.63
Dividend yield
3.17%
52W range
$60 – $82
Volume
3.5M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Restaurant Brands International Inc (QSR) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$78.70
Consensus
$78.00
-0.89%
2030 Target
$336.95
+328.14%
DCF
$105.04
+32.69% MoS
17 analysts:
9 Buy7 Hold2 Sell

Management guidance

RBI reaffirmed growth algorithm targeting 8%+ organic adjusted operating income (AOI) growth and 5%+ net restaurant growth by 2028, with plans to open 1,800 net new restaurants annually by 2028. Company targeting 99% franchised model and double-digit shareholder returns by 2028. No specific revenue dollar targets provided by management, but growth trajectory implies 6-8% annual revenue growth through 2028.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$559.03
$12.7B Rev × 20x P/S
Base case (2030)
$336.95
$12.7B Rev × 12x P/S
Bear case (2030)
$222.08
$12.7B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$7.0B$8.4B$9.4B$10.1B$10.7B$11.3B$12.0B$12.7B
Revenue growth—19.7%12.2%7.4%5.7%5.7%6.0%6.0%
EPS$3.25$3.33$3.68$4.20$4.65$5.10$5.55$6.05
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$268.03$283.35$298.66$313.98$336.95

Catalysts & risks

Growth catalysts
+ 1,800 net new restaurants annually by 2028 (capital-light franchise model)
+ Burger King U.S. turnaround with new menu innovation and value offerings
+ Tim Hortons international expansion, particularly UK extension to 2045
+ Popeyes operational reset under new COO Chris Padoan targeting underperforming locations
+ 8%+ AOI growth target and 5%+ net restaurant growth by 2028
+ Seth Klarman's Baupost Group increased stake reinforcing growth strategy
+ $1.6B capital return to shareholders in 2026
Key risks
- Popeyes negative same-store sales momentum (down ~3% recently) and franchisee profitability pressure
- Commodity cost inflation (beef prices elevated) impacting margins
- Intense quick-service restaurant value competition from McDonald's and others
- Q1 2026 revenue missed expectations despite 21.3% YoY growth
- High leverage (4.31x Debt/Equity, 4.24x LT Debt/Eq) limiting financial flexibility
- Dividend payout ratio at 105.5% unsustainable long-term without earnings growth
- China exit decision and international market execution risks

Methodology

Restaurant Brands International Inc's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 17 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.