Restaurant Brands International (RBI) owns and franchises four fast food brands globally: Burger King, Tim Hortons, Popeyes, and Firehouse Subs. Together, these brands operate over 33,000 restaurants across more than 120 countries, generating roughly $47B in annual system-wide sales. Burger King is the largest brand (~$29B in system-wide sales), built around flame-grilled burgers. Tim Hortons (~$8B) is Canada's dominant coffee and baked goods chain. Popeyes (~$8B) serves Louisiana-style fried chicken. Firehouse Subs (~$1.4B) is a smaller North American hot sub concept. Over 95% of restaurants are franchised, so RBI's direct customers are largely franchisees rather than restaurant guests. RBI earns royalties (typically 3%–6% of gross sales), upfront franchise fees, and rental income from roughly 4,700 properties it leases or subleases to franchisees. Because most restaurant operating costs sit with franchisees, RBI runs a lean cost structure, and profitability is tightly linked to system-wide sales volume. Net restaurant growth and same-store sales growth are the two primary earnings levers. RBI is also investing in digital ordering, kiosks, and loyalty programs to drive frequency and ticket size. RBI's growth strategy centers on expanding its global restaurant count through new franchisee development agreements, refranchising company-owned restaurants acquired through its Carrols Acquisition, and returning to a fully asset-light model.