QSR · Restaurant Brands International Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.26B | - | $2.45B | $2.41B | $2.11B | - | $2.29B | $2.08B | $1.74B | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | $606.00M | - |
| Gross Profit | - | - | - | - | - | - | - | - | $1.13B | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $180.00M | - | $170.00M | $188.00M | $173.00M | - | $176.00M | $163.00M | $173.00M | - |
| Total Operating Expenses | $1.66B | - | $1.79B | $1.93B | $1.67B | - | $1.71B | $1.42B | $1.20B | - |
| D&A | $78.00M | - | $76.00M | $77.00M | $71.00M | - | - | - | $49.00M | - |
| Operating Income | $606.00M | - | $663.00M | $483.00M | $435.00M | - | $577.00M | $663.00M | $544.00M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $38.00M | - | $94.00M | $87.00M | $82.00M | - | $72.00M | $85.00M | $68.00M | - |
| Net Income | $338.00M | - | $315.00M | $189.00M | $159.00M | - | $252.00M | $280.00M | $230.00M | - |
| EPS - Basic | $0.98 | - | $0.96 | $0.58 | $0.49 | - | $0.79 | $0.89 | $0.73 | - |
| EPS - Diluted | $0.97 | - | $0.96 | $0.57 | $0.49 | - | $0.79 | $0.88 | $0.72 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.01B | $1.16B | $1.21B | $1.03B | $899.00M | $1.33B | $1.18B | $942.00M | $1.05B | $1.14B |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | $203.00M | $205.00M | $216.00M | $167.00M | $159.00M | $142.00M | $169.00M | $160.00M | $152.00M | $166.00M |
| Accounts Payable | $813.00M | $866.00M | $826.00M | $763.00M | $697.00M | $765.00M | $754.00M | $720.00M | $734.00M | $790.00M |
| Current Assets | $2.15B | $2.83B | $3.02B | $2.79B | $2.53B | $2.28B | $2.25B | $2.03B | $2.07B | $2.17B |
| Total Assets | $24.88B | $25.61B | $25.67B | $25.69B | $24.88B | $24.63B | $25.07B | $24.85B | $23.14B | $23.39B |
| Current Liabilities | $2.18B | $2.89B | $2.85B | $2.75B | $2.63B | $2.36B | $2.21B | $2.62B | $1.92B | $2.14B |
| Long-term Debt | $13.23B | $13.25B | $13.41B | $13.43B | $13.44B | $13.46B | $13.57B | $13.09B | $12.83B | $12.85B |
| Total Liabilities | $19.59B | $20.46B | $20.50B | $20.60B | $20.06B | $19.79B | $20.03B | $19.90B | $18.31B | $18.66B |
| Stockholders' Equity | $3.74B | $3.63B | $3.38B | $3.32B | $3.12B | $3.11B | $3.24B | $3.07B | $2.97B | $2.87B |
| Retained Earnings | $1.90B | $1.79B | $1.90B | $1.79B | $1.81B | $1.86B | $1.79B | $1.73B | $1.64B | $1.60B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $227.00M | - | - | - | $118.00M | - | - | - | $148.00M | - |
| Investing Cash Flow | ($33.00M) | - | - | - | ($184.00M) | - | - | - | ($31.00M) | - |
| Financing Cash Flow | ($306.00M) | - | - | - | ($265.00M) | - | - | - | ($203.00M) | - |
| CapEx | $58.00M | - | - | - | $64.00M | - | - | - | $26.00M | - |
| Free Cash Flow | $169.00M | - | - | - | $54.00M | - | - | - | $122.00M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | 65.2% | - |
| Operating margin | 26.8% | - | 27.1% | 20.0% | 20.6% | - | 25.2% | 31.9% | 31.3% | - |
| EBITDA margin | 30.2% | - | 30.2% | 23.2% | 24.0% | - | - | - | 34.1% | - |
| Net margin | 14.9% | - | 12.9% | 7.8% | 7.5% | - | 11.0% | 13.5% | 13.2% | - |
| Free cash flow margin | 7.5% | - | - | - | 2.6% | - | - | - | 7.0% | - |
| FCF / Net income | 0.50 | - | - | - | 0.34 | - | - | - | 0.53 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 8.0% | - | 6.9% | 7.8% | 8.2% | - | 7.7% | 7.8% | 9.9% | - |
| Effective tax rate | 10.1% | - | 23.0% | 31.5% | 34.0% | - | 22.2% | 23.3% | 22.8% | - |
| Return on assets | 1.4% | - | 1.2% | 0.7% | 0.6% | - | 1.0% | 1.1% | 1.0% | - |
| Return on equity | 9.0% | - | 9.3% | 5.7% | 5.1% | - | 7.8% | 9.1% | 7.7% | - |
| Return on invested capital | 3.2% | - | 3.0% | 2.0% | 1.7% | - | 2.7% | 3.1% | 2.7% | - |
| Liquidity | ||||||||||
| Current ratio | 0.99 | 0.98 | 1.06 | 1.01 | 0.96 | 0.97 | 1.02 | 0.78 | 1.08 | 1.01 |
| Quick ratio | 0.90 | 0.91 | 0.98 | 0.95 | 0.90 | 0.91 | 0.94 | 0.71 | 1.00 | 0.94 |
| Cash ratio | 0.46 | 0.40 | 0.42 | 0.37 | 0.34 | 0.56 | 0.53 | 0.36 | 0.55 | 0.53 |
| Leverage | ||||||||||
| Debt / Equity | 3.53 | 3.65 | 3.97 | 4.05 | 4.31 | 4.33 | 4.19 | 4.27 | 4.32 | 4.48 |
| Debt / Assets | 0.53 | 0.52 | 0.52 | 0.52 | 0.54 | 0.55 | 0.54 | 0.53 | 0.55 | 0.55 |
| Debt / EBITDA | 19.34 | - | 18.15 | 23.98 | 26.56 | - | - | - | 21.64 | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 6.65 | 7.05 | 7.59 | 7.74 | 7.98 | 7.92 | 7.75 | 8.10 | 7.80 | 8.16 |
| Liabilities / Assets | 0.79 | 0.80 | 0.80 | 0.80 | 0.81 | 0.80 | 0.80 | 0.80 | 0.79 | 0.80 |
| Efficiency | ||||||||||
| Asset turnover | 0.09 | - | 0.10 | 0.09 | 0.08 | - | 0.09 | 0.08 | 0.08 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | 3.99 | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | 92d | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | 442d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 76.2x | - | 66.8x | 116.3x | 136.0x | - | 91.3x | 80.0x | 110.3x | - |
| P / B | 9.1x | - | 8.7x | 9.1x | 9.8x | - | 10.1x | 10.4x | 12.1x | - |
| P / S | 15.0x | - | 12.0x | 12.6x | 14.4x | - | 14.3x | 15.3x | 20.7x | - |
| EV / EBITDA | 67.5x | - | 56.2x | 76.2x | 84.8x | - | - | - | 80.6x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 7.3% | - | 6.9% | 15.9% | 21.3% | - | 24.7% | 17.2% | 9.4% | - |
| Revenue CAGR (3y) | 12.5% | - | 12.4% | 13.7% | 13.3% | - | 15.3% | 13.1% | 11.3% | - |
| Revenue CAGR (5y) | 12.4% | - | 12.9% | 18.1% | 11.5% | - | 9.5% | 8.2% | 6.6% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | 8.9% | - |
| Operating income growth (YoY) | 39.3% | - | 14.9% | -27.1% | -20.0% | - | -0.9% | 19.7% | 21.7% | - |
| Net income growth (YoY) | 112.6% | - | 25.0% | -32.5% | -30.9% | - | 0.0% | 16.2% | 21.7% | - |
| EPS growth (YoY) | 98.0% | - | 21.5% | -35.2% | -31.9% | - | 0.0% | 14.3% | 18.0% | - |
| EPS CAGR (3y) | 16.7% | - | -6.4% | -9.1% | -6.0% | - | 4.1% | 1.6% | 7.5% | - |
| EPS CAGR (5y) | 10.8% | - | 15.4% | 10.2% | 0.4% | - | 1.0% | 9.9% | 6.3% | - |
| FCF growth (YoY) | 213.0% | - | - | - | -55.7% | - | - | - | 58.4% | - |
| FCF CAGR (5y) | -7.6% | - | - | - | -14.3% | - | - | - | -3.9% | - |
| Book value growth (YoY) | 20.1% | 16.8% | 4.5% | 8.1% | 5.0% | 8.5% | 11.3% | 7.5% | 15.3% | 14.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$9.43B totalTim Hortons$4.25B · 45.0%
Restaurant Holdings$1.84B · 19.5%
Burger King$1.32B · 14.0%
International Segment$998.00M · 10.6%
Popeyes Louisiana Kitchen$800.00M · 8.5%
Firehouse Subs$232.00M · 2.5%
Product / service
$7.47B totalRoyalty Property Revenueand Franchisor$2.96B · 39.6%
Product$2.91B · 38.9%
Advertising$1.22B · 16.3%
Royalty$339.00M · 4.5%
Franchisor$29.00M · 0.4%
Sales Revenue$18.00M · 0.2%
Geographic
$9.43B totalUS$4.56B · 48.3%
CA$3.85B · 40.8%
Others$1.03B · 10.9%
Peer comparison
Same SIC group: Retail-Eating Places
Comparing Restaurant Brands International Inc. against the 5 most active filers in the same SIC group.
Dividends
$2.51/share trailing 12 months · +6.4% YoY
| Ex-date | Per share |
|---|---|
| Mar 19, 2026 | $0.6500 |
| Dec 23, 2025 | $0.6200 |
| Sep 23, 2025 | $0.6200 |
| Jun 24, 2025 | $0.6200 |
| Mar 21, 2025 | $0.6200 |
| Dec 20, 2024 | $0.5800 |
| Sep 20, 2024 | $0.5800 |
| Jun 21, 2024 | $0.5800 |
| Mar 20, 2024 | $0.5800 |
| Dec 20, 2023 | $0.5500 |
| Sep 19, 2023 | $0.5500 |
| Jun 21, 2023 | $0.5500 |
| Mar 21, 2023 | $0.5500 |
| Dec 20, 2022 | $0.5400 |
| Sep 20, 2022 | $0.5400 |
| Jun 21, 2022 | $0.5400 |
| Mar 22, 2022 | $0.5400 |
| Dec 20, 2021 | $0.5300 |
| Sep 20, 2021 | $0.5300 |
| Jun 22, 2021 | $0.5300 |
| Mar 22, 2021 | $0.5300 |
| Dec 18, 2020 | $0.5200 |
| Sep 17, 2020 | $0.5200 |
| Jun 16, 2020 | $0.5200 |