R 
Restaurant Brands International QSR · USD
Consumer Discretionary · US listing · 🇺🇸 United States
77.52
-0.22%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$9.43bn
FY2016FY2025
Net income
$776.0m
FY2016FY2025
Free cash flow
$1.45bn
FY2016FY2025
Shareholders' equity
$3.63bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.43bn | $8.41bn | $7.02bn | $6.50bn | $5.74bn | $4.97bn | $5.60bn | $5.36bn | $4.58bn | $4.15bn |
| Operating income | $2.24bn | $2.42bn | $2.05bn | $1.90bn | $1.88bn | $1.31bn | $2.01bn | $1.92bn | $1.74bn | $1.67bn |
| Net income | $776.0m | $1.02bn | $1.19bn | $1.01bn | $838.0m | $486.0m | $643.0m | $612.0m | $648.0m | $616.0m |
| Diluted earnings per share | 1.70 | 2.24 | 2.63 | 2.22 | 1.81 | 1.05 | 1.37 | 1.30 | 1.36 | 1.31 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $25.61bn | $24.63bn | $23.39bn | $22.75bn | $23.25bn | $22.78bn | $22.36bn | $20.14bn | $21.22bn | $19.12bn |
| Cash and short-term investments | $1.16bn | $1.33bn | $1.14bn | $1.18bn | $1.09bn | $1.56bn | $1.53bn | $913.0m | $1.10bn | $1.46bn |
| Total liabilities | $20.46bn | $19.79bn | $18.66bn | $18.48bn | $19.39bn | $19.06bn | $18.10bn | $16.52bn | $16.66bn | $12.34bn |
| Debt | $13.58bn | $13.96bn | $13.27bn | $13.28bn | $13.35bn | $12.82bn | $12.15bn | $12.14bn | $12.12bn | $8.72bn |
| Shareholders' equity | $3.63bn | $3.11bn | $2.87bn | $2.50bn | $2.24bn | $2.17bn | $2.49bn | $1.61bn | $2.23bn | $5.00bn |
| Shares outstanding | 457m | 455m | 453m | 455m | 462m | 464m | 469m | 469m | 476m | 471m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $1.71bn | $1.50bn | $1.32bn | $1.49bn | $1.73bn | $921.0m | $1.48bn | $1.17bn | $1.38bn | $1.27bn |
| Capital spending | −$265.0m | −$201.0m | −$120.0m | −$100.0m | −$106.0m | −$117.0m | −$62.0m | −$86.0m | −$36.7m | −$33.7m |
| Free cash flow | $1.45bn | $1.30bn | $1.20bn | $1.39bn | $1.62bn | $804.0m | $1.41bn | $1.08bn | $1.35bn | $1.24bn |
| Dividends paid | −$1.11bn | −$1.03bn | −$990.0m | −$971.0m | −$974.0m | −$959.0m | −$901.0m | −$728.0m | −$663.5m | −$538.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.52bn | $2.26bn | $2.47bn | $2.45bn | $2.41bn | $2.11bn | $2.30bn | $2.29bn |
| Operating income | $716.0m | $611.0m | $647.0m | $673.0m | $483.0m | $435.0m | $635.0m | $577.0m |
| Net income | $665.0m | $338.0m | $113.0m | $315.0m | $189.0m | $159.0m | $259.0m | $252.0m |
| Diluted earnings per share | 1.45 | 0.73 | 0.25 | 0.69 | 0.41 | 0.35 | 0.57 | 0.55 |
| Cash from operations | $530.0m | $227.0m | $540.0m | $546.0m | $459.0m | $118.0m | $481.0m | $540.0m |
| Capital spending | −$51.0m | −$58.0m | −$100.0m | −$61.0m | −$39.0m | −$64.0m | −$77.0m | −$55.0m |
| Free cash flow | $479.0m | $169.0m | $440.0m | $485.0m | $420.0m | $54.0m | $404.0m | $485.0m |
| Total assets | $25.02bn | $24.88bn | $25.61bn | $25.67bn | $25.69bn | $24.88bn | $24.63bn | $25.07bn |
| Cash and short-term investments | $1.06bn | $1.01bn | $1.16bn | $1.21bn | $1.03bn | $899.0m | $1.33bn | $1.18bn |
| Debt | $13.29bn | $13.51bn | $13.78bn | $14.00bn | $14.13bn | $14.13bn | $14.16bn | $14.20bn |
| Shareholders' equity | $3.85bn | $3.74bn | $3.63bn | $3.38bn | $3.32bn | $3.12bn | $3.11bn | $3.24bn |
Financial ratios
Data as of 22 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 23.7% | 28.8% | 29.2% | 29.2% | 32.7% | 26.3% |
| Net margin | 8.2% | 12.1% | 16.9% | 15.5% | 14.6% | 9.8% |
| Return on equity | 21.4% | 32.8% | 41.5% | 40.3% | 37.5% | 22.4% |
| Return on assets | 3.0% | 4.1% | 5.1% | 4.4% | 3.6% | 2.1% |
| Free cash flow yield | 6.0% | 5.2% | 4.4% | 4.8% | 5.5% | 3.1% |
| Revenue growth | 12.2% | 19.7% | 7.9% | 13.3% | 15.5% | -11.3% |
| Earnings growth | -24.0% | -14.2% | 18.1% | 20.3% | 72.4% | -24.4% |
| Current ratio | 0.98x | 0.97x | 1.01x | 0.97x | 0.97x | 1.41x |
| Debt to equity | 3.72x | 4.46x | 4.57x | 5.24x | 5.88x | 5.84x |
| Equity ratio | 14.2% | 12.6% | 12.3% | 11.0% | 9.6% | 9.5% |
| Interest coverage | 4.34x | 3.01x | 2.68x | 3.50x | 4.39x | 2.70x |
| Buybacks as a share of market value | -0.4% | -0.4% | 0.4% | 1.5% | 0.4% | 1.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 13.2% | 13.7% | 8.8% |
| Operating income | 5.6% | 11.4% | 6.5% |
| Net income | -8.3% | 9.8% | 7.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 26.1% | 27.4% | 28.0% | 30.9% |
| Net margin | 10.1% | 12.7% | 12.6% | 12.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 40.2 | 41.8 | 39.4 | 39.5 | 42.3 | 74.3 | 60.4 | 54.7 | 56.8 | 48.9 |
| Price to sales | 3.3 | 5.1 | 6.7 | 6.1 | 6.2 | 7.3 | 6.9 | 6.2 | 8.0 | 7.3 |
Market value over time
31 Oct 2016 to 21 Sept 2026, in USD
$20.95bn$33.38bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 1% | -7% | 16% | 19% | -6% | -8% | 22% | -11% | 22% | 30% |
Dividends and splits
Per share, in the currency the company pays
Paid for 11 years. Last went ex-dividend on 18 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.95 | 2.48 | 2.87 | 2.20 | 2.16 | 2.12 | 2.08 | 2.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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