Restaurant Brands (QSR) has started making noise around its Burger King turnaround, which was initiated after years of underperformance that’s gotten worse through 2025…

… resulting in the segment’s contribution shrinking. The Home of the Whopper is still material at 15% of revenue…

… so the up to $700M being invested through 2028 could move the needle, making the outcome of that capital allocation important to QSR’s valuation.