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Stock research / United States / QSR · Retail-Eating Places · NYSE

Restaurant Brands International Inc. (QSR)

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Restaurant Brands International Inc. (QSR) reported revenue of $2.5 billion for Q2 FY2026, the quarter ended 30 June 2026, up 4.6% on the same quarter a year earlier. Net income was $507 million, up 168.3% on the year, and diluted earnings per share $1.45. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue$2.5 billionup 4.6%
Net income$507 millionup 168.3%
Diluted EPS$1.45
QuarterQ2 FY2026ended 30 June 2026

Restaurant Brands International (QSR) in brief

Restaurant Brands International (QSR) reported revenue of $9.4 billion for fiscal 2025, the year ended 31 December 2025, up 12.2% on the year before.
Read moreNet income was $776 million and diluted earnings per share $2.35. Revenue was $8.4 billion in fiscal 2024, $7.0 billion in fiscal 2023, $6.5 billion in fiscal 2022 and $5.7 billion in fiscal 2021. Net income in the same years was $1.0 billion, $1.2 billion, $1.0 billion and $838 million. Over the twelve months to 30 June 2026, Restaurant Brands International reported revenue of $9.7 billion and net income of $1.3 billion. Revenue grew 13.7% a year, compounded, over the five years to fiscal 2025. Restaurant Brands International declared $2.54 a share in dividends over the last four quarters and had 349 million shares outstanding at the latest filed count. At 30 June 2026 it carried $13.3 billion of debt and $1.1 billion of cash. At the close of 27 October 2026 the market cap of Restaurant Brands International was $25.8 billion, 19.9 times its earnings over the last twelve months.

Ratios

From the filings

ROE33.1%
ROCE15.2%
Operating margin26.9%
Net margin13.1%
FCF margin16.8%
Interest covern/a
Debt to equity3.44
Cash conversion1.50
Share count, last 12 months6.5%
Sales CAGR, 3 years13.2%
Profit CAGR, 3 years-8.3%
EPS, TTM$3.71

At the close of 27 October 2026

Price$74.00
Market cap$25.8 billion
Stock P/E19.95
Price to book6.71
EV / EBITDA13.05
Dividend yield3.4%
Market cap / sales2.66
52-week high$81.67
52-week low$65.69
Price, 1 year9.8%
Price CAGR, 3 years4.0%
Price CAGR, 5 years5.4%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Restaurant Brands International Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
QSRgreeksoup.ai
Daily prices to 27 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on QSR

Dividends$2.54 a share over the four quarters to 30 June 2026, a 3.43% yield
Filings17 in twelve months: 8 current reports (8-K), about 4 results of operations; 3 regulation FD disclosure; 1 shareholder vote; 1 material agreement; 1 material impairment
Planned insider sales13 Form 144 notices in twelve months, $39.9 million; latest 4 September 2026
Options tapeput/call 0.87 by open interest at the 27 October 2026 close; the straddle prices a 6.1% move to 20 November 2026
13F holders580 funds reported a position for the quarter to 30 June 2026; largest Capital World Investors
Insider trading63 sales and 0 purchases on Form 4 in twelve months
Congress1 House trade disclosed in six months
Short interest17.1 million shares short, 5.74 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 20 quarters

Q3 FY2021 †Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,4951,5461,4511,6391,7261,6891,5901,7751,8371,8201,7392,0802,2912,2962,1092,4102,4492,4662,2642,520
Cost of revenue490532494584615619550612630643606n/an/an/an/an/an/an/an/an/a
Gross profit1,0051,0149571,0551,1111,0701,0401,1631,2071,1771,133n/an/an/an/an/an/an/an/an/a
Gross margin67%66%66%64%64%63%65%66%66%65%65%n/an/an/an/an/an/an/an/an/a
SG&A115n/a133146156n/a175163169n/a173n/an/an/an/an/an/an/an/an/a
Operating income533416450541561346447554582468544663577635435483663621606716
Operating margin36%27%31%33%33%20%28%31%32%26%31%32%25%28%21%20%27%25%27%28%
Pre-tax income394289323412428202305409423316396484429500305351534494483592
Tax rate16%9%16%16%-24%-66%9%14%14%-130%17%18%17%28%27%25%18%45%8%-12%
Net income221179183236360229189241252508230280252259159189315113338507
Net margin15%12%13%14%21%14%12%14%14%28%13%13%11%11%8%8%13%5%15%20%
Diluted EPS$0.70$0.57$0.59$0.76$1.17$0.73$0.61$0.77$0.79$1.60$0.72$0.88$0.79$0.79$0.49$0.57$0.96$0.33$0.97$1.45
Operating cash flow51047123443539842395.0392433403148334540481118449592555227530
Capital expenditure24.036.010.018.024.048.018.030.025.047.026.043.055.077.064.038.061.010258.051.0
Free cash flow48643522441737437577.036240835612229148540454.0411531453169479
Buybacks1823691611650.00.00.00.0115385n/an/an/an/a0.00.0n/an/a32.0138
Dividends paid246244241244243243243249249249245261261262262282282282283296
Shares outstanding315m309m309m306m306m307m311m312m318m312m316m317m324m324m328m328m328m346m347m349m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 14 fiscal years and the trailing twelve months

FY2012FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023FY2024FY2025TTM
Revenue1,9711,1461,1974,0524,1464,5765,3575,6034,9685,7396,5057,0228,4069,4349,699
Cost of revenue1,0371951561,8101,7271,8501,8181,8131,6101,8902,3122,435n/an/an/a
Gross profit7277438262,2432,4192,7263,5393,7903,3583,8494,1934,587n/an/an/a
Gross margin36.9%64.8%69.0%55.3%58.3%59.6%66.1%67.6%67.6%67.1%64.5%65.3%n/an/an/a
Selling, general and administrative3482423454383194161,2141,2641,264n/an/an/an/an/an/a
Operating income4185221811,1921,6671,7361,9172,0071,4221,8791,8982,0512,4192,2022,606
Operating margin21.2%45.6%15.1%29.4%40.2%37.9%35.8%35.8%28.6%32.7%29.2%29.2%28.8%23.3%26.9%
Pre-tax income160322-2546741,2001,1021,3821,4528161,3631,3651,4531,8091,6842,103
Income tax42.088.515.3162244-13423834166.0110-117-265364483279
Effective tax rate26.3%27.5%n/a24.1%20.3%-12.2%17.2%23.5%8.1%8.1%-8.6%-18.2%20.1%28.7%13.3%
Net income1182341611043466266126434868381,0081,1901,0217761,273
Net margin6.0%20.4%13.5%2.6%8.3%13.7%11.4%11.5%9.8%14.6%15.5%16.9%12.1%8.2%13.1%
Diluted EPS$0.33$0.65-$2.34$0.50$1.45$2.54$2.42$2.37$1.60$2.69$3.25$3.76$3.18$2.35$3.71
Filing10-K10-K8-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2023 to FY2024

FY2023FY2024Share
of the parts, latest year
TH3,9724,04047.4%
BK1,2971,45017.0%
RHn/a1,11613.1%
INTL87493511.0%
PLK6927689.0%
FHS1872142.5%
THBKRHINTLPLKFHS
7,022FY20238,523FY2024

$ million; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region FY2023 to FY2025

FY2023FY2024FY2025Share
of the parts, latest year
United States2,5183,7834,55748.3%
Canada3,6303,6843,84640.8%
Other8749391,03110.9%
United StatesCanadaOther
7,022FY20238,406FY20249,434FY2025

$ million; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2012FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow2243252591,2051,2501,3911,1651,4769211,7261,4901,3231,5031,7141,904
Capital expenditure70.225.530.911534.037.086.062.0117106100120201265272
Free cash flow1543002281,0901,2161,3541,0791,4148041,6201,3901,2031,3021,4491,632
Free cash flow margin7.8%26.1%19.1%26.9%29.3%29.6%20.1%25.2%16.2%28.2%21.4%17.1%15.5%15.4%16.8%
Cash from investingn/an/an/a-61.527.0-858-44.0-30.0-79.0-1,103-64.011.0-660-318-176
Cash from financingn/an/an/a-2,115-591-935-1,285-842-821-1,093-1,307-1,374-625-1,436-1,634
Depreciation and amortisation11465.868.8182172182180185189201190191264301308
Share-based compensation12.214.857.950.835.048.048.074.084.0102136194172151140
Buybacksn/a7.3n/an/an/an/an/a0.00.05513265000.00.0n/a
Dividends paid14.084.31063625386647289019599749719901,0291,1081,143
Dividend per share$0.04$0.24$0.30$0.44$0.62$0.78$1.80$2.00$2.08$2.12$2.16$2.20$2.32$2.48n/a
Diluted shares, weighted354m358m358m476m470m477m473m469m468m464m455m456m454m457m460m
Shares outstanding at period endn/an/a202m226m234m244m252m298m305m309m307m312m324m346m349m
Filing10-K10-K8-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2012FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity1,1751,5161,8781,3371,7022,2261,6112,4902,1672,2372,4992,8663,1103,6343,850
Non-controlling interestn/an/a2,4611,5761,7862,3342,0071,7691,5541,6161,7691,8641,7331,5251,545
Redeemable equityn/an/a3,2973,2973,2970.0n/an/an/an/an/an/an/an/an/a
Debt61.12,9089,9358,5018,48511,85811,89311,83312,47612,97812,93412,92113,64213,28213,254
Operating lease liabilitiesn/an/an/an/an/an/a0.01,0891,0821,0701,0271,0591,7701,9001,908
Finance lease liabilitiesn/an/an/an/an/an/a226288315333311312286261243
Other liabilitiesn/a1,3613,7713,7003,8544,8054,4044,8915,1835,0124,2064,3694,0915,0134,222
Total liabilities and equityn/a5,78621,34318,41119,12521,22420,14122,36022,77723,24622,74623,39124,63225,61525,022
Owned
Fixed assetsn/a8022,4362,1512,0552,1331,9962,0071,5231,5101,4001,3291,1791,2192,230
Goodwill6196305,2364,5744,6755,7825,4865,6515,7396,0065,6885,7755,9866,3066,183
Intangible assetsn/a2,79610,4459,1489,22811,06210,46310,56310,70111,41710,99111,10710,92211,19010,945
Cash and equivalents5477871,8037921,4761,0979131,5331,5601,0871,1781,1391,3341,1631,063
Inventoryn/a1.297.881.371.878.075.084.096.096.0133166142205224
Other assetsn/a7701,3251,6651,6191,0711,2082,5223,1583,1303,3563,8755,0695,5324,377
Total assetsn/a5,78621,34318,41119,12521,22420,14122,36022,77723,24622,74623,39124,63225,61525,022
Filing10-K10-K8-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded8.8%13.7%13.2%6.5%
Profit growth, compounded22.3%9.8%-8.3%48.2%
Return on equity, average30.8%34.7%31.9%21.4%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Restaurant Brands International's revenue in fiscal 2025?

Restaurant Brands International (QSR) reported revenue of $9.4 billion for fiscal 2025, the year ended 31 December 2025, up 12.2% on the year before.

How much did Restaurant Brands International earn in fiscal 2025?

Net income was $776 million for fiscal 2025, and diluted earnings per share $2.35.

What is Restaurant Brands International's P/E ratio?

At the close of 27 October 2026, Restaurant Brands International traded at 19.9 times its earnings over the twelve months to 30 June 2026.

What is Restaurant Brands International's market cap?

The market cap of Restaurant Brands International was $25.8 billion at the close of 27 October 2026.

Does Restaurant Brands International pay a dividend?

Yes. Restaurant Brands International declared $2.54 a share in dividends over the four quarters to 30 June 2026.

Peers: Restaurants, Hotels, Motels

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
McDonald's Corp. MCD$176.6 billion20.27n/a46.2%6.3%n/a2.9%
Yum! Brands, Inc. YUM$40.8 billion18.81n/a31.0%10.3%n/a2.0%
Chipotle Mexican Grill Inc. CMG$35.4 billion25.6764.5%14.7%7.3%0.00n/a
Restaurant Brands International Inc. QSR$25.8 billion19.9533.1%26.9%6.5%3.443.4%
Darden Restaurants Inc. DRI$24.2 billion20.9257.2%11.7%8.1%1.262.9%
Yum China Holdings, Inc. YUMC$15.7 billion16.6418.2%11.1%8.8%0.012.3%
Aramark ARMK$14.6 billion38.8211.3%4.4%11.0%1.810.9%
Texas Roadhouse, Inc. TXRH$10.9 billion26.6726.5%7.7%9.9%0.031.7%
Brinker International, Inc. EAT$8.3 billion18.07109.8%10.7%7.9%0.950.6%
Cava Group, Inc. CAVA$6.1 billion94.297.9%5.2%26.8%0.00n/a
Cheesecake Factory Inc. CAKE$5.4 billion29.3934.4%5.3%5.7%1.081.1%
Wingstop Inc. WING$3.4 billion29.42n/a27.9%7.6%n/a1.0%
All 39 in Restaurants, Hotels, Motels
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
McDonald's Corp. MCD$176.6 billion20.27n/a46.2%6.3%n/a2.9%
Starbucks Corp. SBUX$117.5 billion59.22n/a7.8%4.5%n/a2.4%
Marriott International Inc. MAR$101.8 billion40.44n/a15.8%4.7%n/a0.7%
Hilton Worldwide Holdings Inc. HLT$76.9 billion46.61n/a24.0%8.1%n/a0.2%
Yum! Brands, Inc. YUM$40.8 billion18.81n/a31.0%10.3%n/a2.0%
Chipotle Mexican Grill Inc. CMG$35.4 billion25.6764.5%14.7%7.3%0.00n/a
Restaurant Brands International Inc. QSR$25.8 billion19.9533.1%26.9%6.5%3.443.4%
InterContinental Hotels Group PLC IHG *$25.2 billion34.09n/a23.1%5.4%n/a1.1%
Darden Restaurants Inc. DRI$24.2 billion20.9257.2%11.7%8.1%1.262.9%
Las Vegas Sands Corp. LVS$22.6 billion14.80n/a20.9%10.9%n/a3.2%
Hyatt Hotels Corp. H$16.7 billion210.782.4%n/a5.8%1.290.3%
Yum China Holdings, Inc. YUMC$15.7 billion16.6418.2%11.1%8.8%0.012.3%
Aramark ARMK$14.6 billion38.8211.3%4.4%11.0%1.810.9%
Texas Roadhouse, Inc. TXRH$10.9 billion26.6726.5%7.7%9.9%0.031.7%
Brinker International, Inc. EAT$8.3 billion18.07109.8%10.7%7.9%0.950.6%
Wynn Resorts Ltd. WYNN$7.5 billion17.97n/a15.7%6.4%n/a1.4%
MGM Resorts International MGM$7.0 billion16.9516.9%5.7%3.2%2.410.0%
Dutch Bros Inc. BROS$6.4 billion57.8311.6%9.6%29.6%0.25n/a
Cava Group, Inc. CAVA$6.1 billion94.297.9%5.2%26.8%0.00n/a
Caesars Entertainment, Inc. CZR$5.9 billionn/a-16.3%15.4%3.1%3.56n/a
Cheesecake Factory Inc. CAKE$5.4 billion29.3934.4%5.3%5.7%1.081.1%
Wyndham Hotels & Resorts, Inc. WH$5.3 billion27.1142.5%29.2%0.8%5.742.3%
Boyd Gaming Corp. BYD$5.3 billion3.1672.7%16.4%1.7%1.051.1%
Choice Hotels International Inc. CHH$4.9 billion15.42230.9%25.2%2.6%14.081.1%
Travel & Leisure Co. TNL$4.1 billion18.08n/a13.0%4.6%n/a3.5%
Park Hotels & Resorts Inc. PK$3.4 billionn/a-5.3%2.0%-1.4%1.276.0%
Wingstop Inc. WING$3.4 billion29.42n/a27.9%7.6%n/a1.0%
Red Rock Resorts, Inc. RRR$2.9 billion17.5798.7%27.7%0.9%20.932.0%
Hilton Grand Vacations Inc. HGV$2.8 billion20.1913.7%9.9%5.4%7.05n/a
Shake Shack Inc. SHAK$2.7 billion68.707.3%3.6%17.3%0.46n/a
Sunstone Hotel Investors, Inc. SHO$2.4 billion57.982.2%9.1%7.3%0.522.8%
Monarch Casino & Resort Inc. MCRI$2.1 billion18.4919.9%25.1%5.1%0.001.0%
Penn Entertainment, Inc. PENN$2.0 billionn/a-48.7%-7.9%6.1%1.51n/a
Xenia Hotels & Resorts, Inc. XHR$1.9 billionn/a-0.7%6.7%1.6%1.222.8%
Cracker Barrel Old Country Store, Inc. CBRL$1.5 billion48.696.6%-0.4%-4.7%0.711.5%
BJs Restaurants Inc. BJRI$1.2 billion30.7110.3%2.7%3.5%0.110.9%
Wendy's Co. WEN$1.2 billion9.30104.6%13.6%-1.0%22.829.1%
Papa John's International, Inc. PZZA$594 million22.85n/a4.3%-5.6%n/a10.2%
Black Rock Coffee Bar, Inc. BRCB$221 million148.571.3%1.0%n/a0.58n/a
14 companies share its SEC industry code (Retail-Eating Places); the rest are the names nearest in size in its wider industry, Restaurants, Hotels, Motels, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20266 August 2026EDGAR
10-Q31 March 20266 May 2026EDGAR
10-K31 December 202520 February 2026EDGAR
10-Q30 September 202530 October 2025EDGAR
10-Q30 June 20257 August 2025EDGAR
10-Q31 March 20258 May 2025EDGAR
10-K31 December 202421 February 2025EDGAR
10-Q30 September 20245 November 2024EDGAR
10-Q30 June 20248 August 2024EDGAR
10-Q31 March 202430 April 2024EDGAR