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Restaurant Count Breakdown
Provides a detailed look at the number of restaurants by type or region, indicating expansion strategy, market penetration, and potential for revenue increase.Ignore the quarter-end spikes—they look like reporting or classification artifacts. The underlying story is steady international expansion and accelerating unit growth at Firehouse, with Burger King the consistent growth engine (and recent U.S. momentum per the call). Tim Hortons’ unit base is effectively flat-to-soft and is contributing near-term AOI drag from advertising/development timing, while Popeyes is still expanding but its comp weakness risks diluting unit-level returns. Management’s push to accelerate net new restaurants toward its 2028 target will hinge on refranchising progress and deleveraging.
Date | Tim Hortons | Burger King | Popeyes | Firehouse Subs | International |
|---|---|---|---|---|---|
Jun 30, 2026 | 4.57K | 6.99K | 3.54K | 1.48K | 16.57K |
Mar 31, 2026 | 4.57K | 7.00K | 3.56K | 1.46K | 16.39K |
Dec 31, 2025 | 4.59K | 7.03K | 3.58K | 1.45K | 16.40K |
Sep 30, 2025 | 4.53K | 7.04K | 3.54K | 1.40K | 15.91K |
Jun 30, 2025 | 4.52K | 7.05K | 3.52K | 1.37K | 15.77K |
Mar 31, 2025 | 4.52K | 7.06K | 3.52K | 1.35K | 15.70K |
Dec 31, 2024 | 6.04K | 19.73K | 4.98K | 1.37K | 15.64K |
Sep 30, 2024 | 4.50K | 7.12K | 3.46K | 1.30K | 15.14K |
Jun 30, 2024 | 4.51K | 7.13K | 3.44K | 1.29K | 14.96K |
Mar 31, 2024 | 4.50K | 7.14K | 3.41K | 1.28K | 14.78K |