Saturday 17 October 2026
Export QSR’s income statement to Excel — free account
Restaurant Brands International Inc.
QSR Consumer Cyclical Restaurants
Restaurant Brands International Inc.’s revenue for fiscal 2025 (year ended December 2025) was $9.4 billion, up 12.2% from fiscal 2024. In the quarter to June 2026, revenue grew 4.56%, EPS grew 151.7%, free cash flow grew 18.9% and total debt fell 2.87%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for five.
74.81
0.70
+0.94%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
28.79 | 20.31 | 20.17 | 19.60 | 22.39 | 37.96 | 26.57 | 21.35 | 23.83 | 31.76 |
Piotroski F-Score |
6 | 4 | 8 | 8 | 6 | 5 | 7 | 7 | 6 | 7 |
P/S ratio |
2.38 | 2.47 | 3.42 | 3.04 | 3.28 | 3.71 | 3.05 | 2.43 | 3.23 | 2.64 |
Altman Z-Score |
1.41 | 1.41 | 1.47 | 1.27 | 1.14 | 1.07 | 1.19 | 1.11 | 1.06 | 1.14 |
Altman Z″-Score (non-manufacturers) |
1.06 | 1.16 | 1.09 | 0.93 | 0.84 | 0.89 | 1.11 | 1.02 | 0.97 | 1.55 |
P/FCF ratio |
15.10 | 15.56 | 19.34 | 14.12 | 11.50 | 22.62 | 12.02 | 11.98 | 10.72 | 8.86 |
Beneish M-Score |
(2.41) | (2.45) | (2.23) | (2.37) | (2.56) | (2.50) | (2.39) | (2.88) | (2.45) | (2.60) |
P/Operating CF |
40.45 | 43.23 | 59.50 | 46.81 | 39.94 | 58.96 | 30.25 | 26.47 | 27.06 | 31.28 |
Dividend Safety Score |
30 | — | — | — | — | — | — | — | — | — |
P/B ratio |
4.35 | 4.29 | 5.07 | 4.64 | 4.88 | 4.96 | 4.01 | 3.60 | 3.24 | 3.14 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
3.70 | 3.98 | 5.14 | 4.90 | 5.41 | 5.98 | 4.94 | 4.53 | 5.64 | 4.39 |
EV/EBITDA |
13.73 | 12.04 | 15.86 | 15.40 | 14.77 | 18.60 | 12.41 | 11.29 | 13.16 | 9.59 |
EV/Operating CF |
20.34 | 22.24 | 27.29 | 21.41 | 18.00 | 32.27 | 18.77 | 20.82 | 18.57 | 14.35 |
EV/FCF |
23.45 | 25.02 | 29.12 | 22.75 | 18.99 | 36.42 | 19.48 | 22.31 | 18.71 | 14.74 |
Quick Ratio |
0.68 | 0.86 | 0.88 | 0.85 | 0.87 | 1.31 | 1.21 | 0.97 | 0.96 | 1.54 |
Current Ratio |
0.98 | 0.97 | 1.01 | 0.97 | 0.97 | 1.41 | 1.29 | 1.07 | 1.06 | 1.73 |
Net Debt/EBITDA |
4.89 | 4.55 | 5.33 | 5.84 | 5.83 | 7.05 | 4.76 | 5.23 | 5.62 | 3.83 |
Debt/Assets |
53.01% | 56.69% | 56.72% | 58.37% | 57.41% | 56.30% | 54.33% | 60.28% | 57.12% | 45.61% |
Debt/Equity |
2.63 | 2.88 | 2.80 | 3.11 | 3.46 | 3.45 | 2.85 | 3.36 | 2.66 | 1.29 |
Asset Turnover |
0.38 | 0.35 | 0.30 | 0.28 | 0.25 | 0.22 | 0.26 | 0.26 | 0.23 | 0.22 |
Operating CF/Net income |
2.21 | 1.47 | 1.11 | 1.48 | 2.06 | 1.90 | 2.30 | 1.90 | 2.22 | 3.67 |
Capex/Depreciation |
(0.70) | (0.58) | (0.38) | (0.40) | (0.39) | (0.49) | (0.25) | (0.37) | (0.05) | (0.16) |
Interest Coverage |
4.29 | 4.31 | 3.54 | 3.48 | 3.71 | 2.72 | 3.79 | 3.62 | 3.41 | 3.61 |
| 15.52% | 21.33% | 26.45% | 24.82% | 22.13% | 12.18% | 16.33% | 14.97% | 15.55% | 10.80% | |
| 3.09% | 4.25% | 5.16% | 4.38% | 3.64% | 2.15% | 3.03% | 2.96% | 3.10% | 1.84% | |
ROIC |
7.83% | 8.65% | 7.60% | 7.25% | 7.29% | 5.93% | 8.43% | 8.07% | 6.96% | 7.42% |
Return on Tangible Assets |
34.61% | 47.40% | 60.07% | 53.56% | 42.47% | 18.04% | 25.72% | 29.31% | 28.10% | 11.75% |
Average Days of Receivables |
30.72 | 30.31 | 38.93 | 34.45 | 34.79 | 39.38 | 34.33 | 30.80 | 39.00 | 35.52 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
22.25% | 24.54% | 28.15% | 26.26% | 25.61% | 25.70% | 22.56% | 22.66% | 9.09% | 7.68% |
Intangible Assets out of Total Assets |
0.68 | 0.69 | 0.72 | 0.73 | 0.75 | 0.72 | 0.73 | 0.79 | 0.79 | 0.73 |
Share Based Compensation of Revenue |
1.60% | 2.05% | 2.76% | 2.09% | 1.78% | 1.69% | 1.21% | 0.90% | 1.05% | 0.85% |
Graham Net Nets |
(0.79) | (0.84) | (0.69) | (0.83) | (0.93) | (0.91) | (0.93) | (1.15) | (1.01) | (0.94) |
Graham Number |
28.92 | 33.11 | 36.05 | 32.08 | 27.53 | 21.13 | 29.29 | 28.30 | 33.68 | 22.33 |
Earnings Yield |
3.47% | 4.92% | 4.96% | 5.10% | 4.47% | 2.63% | 3.76% | 4.68% | 4.20% | 3.15% |
Free Cash Flow Yield |
6.62% | 6.43% | 5.17% | 7.08% | 8.70% | 4.42% | 8.32% | 8.35% | 9.33% | 11.29% |
Revenue per Share |
28.67 | 26.35 | 22.51 | 21.19 | 18.51 | 16.45 | 20.91 | 21.51 | 19.31 | 17.80 |
Operating CF per Share |
5.21 | 4.71 | 4.24 | 4.85 | 5.57 | 3.05 | 5.51 | 4.68 | 5.87 | 5.45 |
Capex per Share |
(0.69) | (0.52) | (0.27) | (0.29) | (0.29) | (0.35) | (0.20) | (0.31) | (0.05) | (0.14) |
Free Cash Flow per Share |
4.52 | 4.19 | 3.97 | 4.57 | 5.28 | 2.70 | 5.31 | 4.37 | 5.82 | 5.30 |
Cash per Share |
3.54 | 4.18 | 3.65 | 3.84 | 3.51 | 5.17 | 5.72 | 3.67 | 4.63 | 6.27 |
Shareholders Equity per Share |
15.68 | 15.18 | 15.16 | 13.90 | 12.43 | 12.32 | 15.89 | 14.53 | 19.24 | 29.14 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
15.68 | 15.18 | 15.16 | 13.90 | 12.43 | 12.32 | 15.89 | 14.53 | 19.24 | 29.14 |
Free Cash Flow |
1,487.00 | 1,336.00 | 1,240.00 | 1,402.00 | 1,636.00 | 816.00 | 1,422.00 | 1,087.00 | 1,380.00 | 1,235.30 |
Working Capital |
(61.00) | (82.00) | 29.00 | (68.00) | (62.00) | 663.00 | 493.00 | 92.00 | 95.00 | 886.30 |
Capital Expenditures |
(227.00) | (167.00) | (83.00) | (88.00) | (90.00) | (105.00) | (54.00) | (78.00) | (11.00) | (33.70) |
Net Current Asset Value |
(17,626.00) | (17,507.00) | (16,488.00) | (16,430.00) | (17,577.00) | (16,792.00) | (15,905.00) | (15,023.00) | (14,913.00) | (10,242.30) |
EV/EBIT |
15.75 | 13.43 | 17.54 | 17.21 | 16.57 | 21.49 | 13.73 | 12.51 | 14.78 | 10.79 |
Capex to Sales |
0.02 | 0.02 | 0.01 | 0.01 | 0.02 | 0.02 | 0.01 | 0.01 | 0.00 | 0.01 |
Price to Operating Income |
10.19 | 8.60 | 11.69 | 10.43 | 10.01 | 12.98 | 8.52 | 6.79 | 8.53 | 6.57 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.14 | 0.13 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.10 | 0.10 | 0.10 |
Cash ROIC |
7.47% | 6.63% | 6.48% | 7.49% | 8.95% | 4.51% | 7.93% | 6.52% | 7.76% | 7.28% |
Accounts Receivable Turnover |
12.65 | 11.62 | 10.30 | 11.21 | 10.60 | 9.35 | 11.45 | 11.39 | 10.25 | 10.04 |
Accounts Payable Turnover |
5.99 | 5.21 | 3.81 | 4.13 | 4.41 | 3.84 | 4.07 | 4.44 | 5.38 | 5.97 |
Inventory Turnover |
28.14 | 26.31 | 19.71 | 24.72 | 24.78 | 23.61 | 29.60 | 29.28 | 31.08 | 28.50 |
Average Days of Payables |
64.73 | 68.91 | 97.85 | 97.76 | 94.20 | 79.70 | 99.90 | 83.59 | 77.77 | 61.88 |
Days of Inventory on Hand |
15.32 | 12.79 | 20.56 | 17.15 | 14.73 | 16.49 | 13.03 | 12.22 | 12.23 | 12.01 |
Average Receivables |
746.00 | 723.50 | 681.50 | 580.50 | 541.50 | 531.50 | 489.50 | 470.50 | 446.25 | 412.75 |
Average Payables |
815.50 | 777.50 | 774.00 | 686.00 | 539.00 | 554.00 | 578.50 | 504.50 | 432.90 | 365.65 |
Average Inventory |
173.50 | 154.00 | 149.50 | 114.50 | 96.00 | 90.00 | 79.50 | 76.50 | 74.90 | 76.55 |
Average Assets |
25,123.50 | 24,011.50 | 23,068.50 | 22,996.00 | 23,011.50 | 22,568.50 | 21,250.50 | 20,682.50 | 20,174.45 | 18,768.00 |
Average Common Equity |
5,001.00 | 4,786.50 | 4,499.00 | 4,060.50 | 3,787.00 | 3,990.00 | 3,938.50 | 4,089.50 | 4,024.80 | 3,200.65 |
Columns are period end dates