Saturday 17 October 2026 Export QSR’s income statement to Excel — free account

Restaurant Brands International Inc.

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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Market cap: $33.7B
P/E: 20.0×
Fwd P/E: 18.0×
Dividend yield: 3.44%
F-score: 6/9
Altman Z: 1.41
Beneish M: −2.41
Dividend safety: 30/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 55.74

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	2	10	10	9	6	—	—	—	—	1	1	—

Insider Ownership 1.21%

Capital & Financial Ratios $m

Market Cap 33,680.00

Revenue 9,699.00

Net Income 1,827.00

Free Cash Flow 1,691.00

Net Debt 12,468.00

Current Ratio 1.01

Debt/Equity 2.51

P/E ratio 20.00

Fwd P/E 18.00

P/S ratio 2.68

P/B ratio 4.83

Past 5Y EPS Growth 7.99%

This Y EPS Growth 9.71%

Next Y EPS Growth 9.37%

Next Y revenue growth 4.43%

Next 5Y EPS Growth 9.78%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 22.63%

10-year low 10-year high

P/S against its own 10 years 26.91%

10-year low 10-year high

P/B against its own 10 years 81.20%

10-year low 10-year high

EV/Sales against its own 10 years 14.23%

10-year low 10-year high

EV/FCF against its own 10 years 50.90%

10-year low 10-year high

Dividends

Payout Ratio 0.69

Annual Dividend Rate 2.57

Annual Dividend Yield 3.44%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	2.58	0.65 0.65 0.65
2025	2.48	0.62 0.62 0.62 0.62
2024	2.32	0.58 0.58 0.58 0.58
2023	2.20	0.55 0.55 0.55 0.55
2022	2.16	0.54 0.54 0.54 0.54
2021	2.12	0.53 0.53 0.53 0.53
2020	2.08	0.52 0.52 0.52 0.52
2019	2.00	0.50 0.50 0.50 0.50
2018	1.80	0.45 0.45 0.45 0.45
2017	0.78	0.18 0.19 0.20 0.21
2016	0.62	0.14 0.15 0.16 0.17

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1,139	1,334	1,163	1,063
Receivables	749	698	794	800
Inventory	166	142	205	224
Other	—	—	—	—
	2,173	2,282	2,830	2,343

	2023	2024	2025	Q'26
Payables	790	765	866	884
ST’ Debt	101	222	68	82
Other	248	236	249	183
	2,144	2,364	2,891	2,314

Compound Annual Growth %

	10y	5y	3y
Sales	8.82%	13.68%	13.19%
Cash Flow	3.59%	13.23%	4.78%
Earnings	22.27%	9.81%	(8.35%)
Book Value	(1.84%)	6.75%	6.52%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	2,264	2,520	—	—	—
’25	2,109	2,410	2,449	2,466	9,434
’24	1,739	2,080	2,291	2,296	8,406
’23	1,590	1,775	1,837	1,820	7,022
’22	1,451	1,639	1,726	1,689	6,505
’21	1,260	1,438	1,495	1,546	5,739
’20	1,225	1,048	1,337	1,358	4,968

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	227	530	—	—	—
’25	118	449	592	555	1,714
’24	148	334	540	481	1,503
’23	95	392	433	403	1,323
’22	234	435	398	423	1,490
’21	266	479	510	471	1,726
’20	136	60	412	313	921

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	190	491	—	—	—
’25	64	413	545	465	1,487
’24	124	296	495	421	1,336
’23	81	371	418	370	1,240
’22	228	423	375	376	1,402
’21	262	451	486	437	1,636
’20	121	41	384	270	816

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.97	1.45	—	—	—
’25	0.49	0.57	0.96	0.34	2.35
’24	0.72	0.88	0.79	0.79	3.18
’23	0.61	0.77	0.79	1.60	3.76
’22	0.59	0.76	1.17	0.74	3.25
’21	0.58	0.84	0.70	0.57	2.69
’20	0.48	0.35	0.47	0.30	1.60

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	29.28	46.88	50.20	50.78	25.08	54.18	46.68	59.99	64.55	58.71	Analyst estimates 2026–2028 Powerpack
	High	50.20	68.89	65.17	79.46	67.33	71.12	68.54	78.50	83.29	73.70
People
People	Employees	4,300	6,200	6,000	6,300	5,200	5,700	6,400	9,000	37,600	53,500
	Revenue/emp, $m	0.96	0.74	0.89	0.89	0.96	1.01	1.02	0.78	0.22	0.18
Income, $m
Income, $m	Revenue	4,146	4,576	5,357	5,603	4,968	5,739	6,505	7,022	8,406	9,434
	Gross margin, %	47.38	49.13	58.19	58.00	57.23	58.55	56.50	58.03	51.80	48.24
	EBT	1,200	1,101	1,382	1,452	816	1,363	1,365	1,453	1,809	1,684
	EBT margin, %	28.94	24.06	25.80	25.91	16.43	23.75	20.98	20.69	21.52	17.85
	Net income	956	1,235	1,144	1,111	750	1,253	1,482	1,718	1,445	1,201
	Depreciation	211	215	209	214	215	228	218	218	289	326
Per share, $
Per share, $	Revenue	17.80	19.31	21.51	20.91	16.45	18.51	21.19	22.51	26.35	28.67
	Earnings	1.48	2.64	2.46	2.40	1.61	2.71	3.28	3.82	3.20	2.36
	Cash flow	5.45	5.87	4.68	5.51	3.05	5.57	4.85	4.24	4.71	5.21
	Capex	(0.14)	(0.05)	(0.31)	(0.20)	(0.35)	(0.29)	(0.29)	(0.27)	(0.52)	(0.69)
	Free cash flow	5.30	5.82	4.37	5.31	2.70	5.28	4.57	3.97	4.19	4.52
	Book value	29.14	19.24	14.53	15.89	12.32	12.43	13.90	15.16	15.18	15.68
	Shares, m	233	237	249	268	302	310	307	312	319	329
Valuation, ×
Valuation, ×	P/E	31.76	23.83	21.35	26.57	37.96	22.39	19.60	20.17	20.31	28.79
	P/S	2.64	3.23	2.43	3.05	3.71	3.28	3.04	3.42	2.47	2.38
	P/B	3.14	3.24	3.60	4.01	4.96	4.88	4.64	5.07	4.29	4.35
	EV/Sales	4.39	5.64	4.53	4.94	5.98	5.41	4.90	5.14	3.98	3.70
	EV/FCF	14.74	18.71	22.31	19.48	36.42	18.99	22.75	29.12	25.02	23.45
Cash, $m
Cash, $m	Operating cash flow	1,269	1,391	1,165	1,476	921	1,726	1,490	1,323	1,503	1,714
	Capex	(34)	(11)	(78)	(54)	(105)	(90)	(88)	(83)	(167)	(227)
	Free cash flow	1,235	1,380	1,087	1,422	816	1,636	1,402	1,240	1,336	1,487
Balance, $m
Balance, $m	Working capital	886	95	92	493	663	(62)	(68)	29	(82)	(61)
	Total debt	8,723	12,123	12,140	12,148	12,823	13,345	13,277	13,267	13,963	13,579
	Net debt	7,262	11,026	11,227	10,615	11,263	12,258	12,099	12,128	12,629	12,416
	Shareholders’ equity	6,786	4,561	3,618	4,259	3,721	3,853	4,268	4,730	4,843	5,159
Returns, %
Returns, %	ROA	1.84	3.10	2.96	3.03	2.15	3.64	4.38	5.16	4.25	3.09
	ROIC	7.42	6.96	8.07	8.43	5.93	7.29	7.25	7.60	8.65	7.83
	ROE	10.80	15.55	14.97	16.33	12.18	22.13	24.82	26.45	21.33	15.52

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
SBUX Starbucks Corporation	$110.4B	56.0×	47.2×	−1.41% (below 0%: shrinking)	+85.71% (above 0%: growing)	+210.96% (above 0%: growing)	69.66%	10.52%	Compare
YUM Yum! Brands, Inc.	$41.2B	18.8×	22.3×	+12.21% (above 0%: growing)	+131.34% (above 0%: growing)	+8.53% (above 0%: growing)	67.73%	30.20%	Compare
CMG Chipotle Mexican Grill, Inc.	$38.7B	27.4×	26.5×	+9.31% (above 0%: growing)	0.00%	+15.63% (above 0%: growing)	25.22%	15.70%	Compare
QSR Restaurant Brands International Inc.	$33.7B	20.0×	18.0×	+4.56% (above 0%: growing)	+151.72% (above 0%: growing)	+18.89% (above 0%: growing)	49.13%	28.49%
DRI Darden Restaurants, Inc.	$24.3B	21.0×	17.4×	+5.11% (above 0%: growing)	−7.24% (below 0%: shrinking)	−41.21% (below 0%: shrinking)	20.50%	9.98%	Compare
YUMC Yum China	$15.3B	16.5×	14.7×	+12.59% (above 0%: growing)	+20.69% (above 0%: growing)	+3.10% (above 0%: growing)	22.21%	11.09%	Compare
TXRH Texas Roadhouse, Inc.	$11.2B	26.9×	26.6×	+11.11% (above 0%: growing)	−0.53% (below 0%: shrinking)	+120.59% (above 0%: growing)	16.80%	8.50%	Compare
DPZ Domino's Pizza Inc	$10.0B	17.0×	16.4×	+3.36% (above 0%: growing)	+12.90% (above 0%: growing)	−3.26% (below 0%: shrinking)	40.18%	20.39%	Compare
EAT Brinker International, Inc.	$8.6B	18.2×	11.3×	+5.06% (above 0%: growing)	+27.80% (above 0%: growing)	+48.74% (above 0%: growing)	18.75%	10.87%	Compare
Median of peers	$19.8B	19.9×	19.9×	+7.21%	+16.80%	+12.08%	23.71%	10.98%

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