Restaurant Brands International Inc. (QSR) reported $9.78B of revenue for the twelve months ended Sep 30, 2026. That is up 5.5% from the year before. Revenue for fiscal 2025 was $9.43B.

Yes. Restaurant Brands International Inc. earned $1.76B in net income for the twelve months ended Sep 30, 2026, a net margin of 18.1%.

How much cash and debt does QSR have?

Restaurant Brands International Inc. reported $974.00M in cash and cash equivalents and $13.24B of debt on its most recent balance sheet in SEC filings.

How fast is QSR revenue growing?

Restaurant Brands International Inc.'s revenue changed +12.2% in fiscal 2025, to $9.43B. Its compound annual growth rate was +13.7% over 5 years and +8.8% over 10 years.

What is QSR free cash flow?

Restaurant Brands International Inc. generated $1.58B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $1.86B less capital expenditures.

What is QSR earnings per share?

Diluted earnings per share were $4.29 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.

When did QSR last report financial results?

The latest statements here come from Restaurant Brands International Inc.'s 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.

Financials · QSR

Restaurant Brands International Inc. (QSR) financials

For the twelve months ended Sep 30, 2026, Restaurant Brands International Inc. reported $9.78B of revenue and $1.76B of net income.

Revenue, TTM: $9.78B
Revenue growth, YoY: +5.5%
Net income, TTM: $1.76B
Net income growth, YoY: +66.8%
Net margin: 18.1%
Free cash flow, TTM: $1.58B
EPS, diluted, TTM: $4.29
EPS growth, YoY: +52.7%
Cash: $974.00M
Total debt: $13.24B
P/E: 19.86
P/S: 3.59
Market cap: $35.06B

Annual revenue$9.43B

FY2016FY2025

Annual net income$776.00M

FY2016FY2025

Annual free cash flow$1.45B

FY2016FY2025

QSR revenue and earnings growth

QSR revenueQ3 2026$2.52B

Quarter YoY: +3.1%
QoQ: +0.2%
FY YoY: +12.2%
5Y CAGR: +13.7%
10Y CAGR: +8.8%

QSR revenue was $2.52B in fiscal Q3 2026 (ended Sep 30, 2026), up 3.1% from a year earlier and up 0.2% from the prior quarter. For the full fiscal 2025 it was $9.43B, up 12.2% from fiscal 2024. Compound annual growth was +13.7% over 5 years and +8.8% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 14 fiscal years on file.

QSR net incomeQ3 2026$542.00M

Quarter YoY: +72.1%
QoQ: -18.5%
FY YoY: -24.0%
5Y CAGR: +9.8%
10Y CAGR: +22.3%

QSR net income was $542.00M in fiscal Q3 2026 (ended Sep 30, 2026), up 72.1% from a year earlier and down 18.5% from the prior quarter. For the full fiscal 2025 it was $776.00M, down 24.0% from fiscal 2024. Compound annual growth was +9.8% over 5 years and +22.3% over 10 years. It rose in 6 of the last 10 fiscal years.

QSR EPSQ3 2026$1.54

Quarter YoY: +60.4%
QoQ: +6.2%
FY YoY: -26.1%
5Y CAGR: +8.0%
10Y CAGR: +16.7%

QSR diluted EPS was $1.54 in fiscal Q3 2026 (ended Sep 30, 2026), up 60.4% from a year earlier and up 6.2% from the prior quarter. For the full fiscal 2025 it was $2.35, down 26.1% from fiscal 2024. Compound annual growth was +8.0% over 5 years and +16.7% over 10 years.

QSR free cash flowQ3 2026$479.00M

Quarter YoY: -9.8%
QoQ: +0.0%
FY YoY: +11.3%
5Y CAGR: +12.5%
10Y CAGR: +2.9%

QSR free cash flow was $479.00M in fiscal Q3 2026 (ended Sep 30, 2026), down 9.8% from a year earlier and up 0.0% from the prior quarter. For the full fiscal 2025 it was $1.45B, up 11.3% from fiscal 2024. Compound annual growth was +12.5% over 5 years and +2.9% over 10 years. It rose in 6 of the last 10 fiscal years.

Export CSV

Income statement

Income statement
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue	$9.43B	$8.41B	$7.02B	$6.50B	$5.74B	$4.97B	$5.60B	$5.36B	$4.58B	$4.15B
Cost of revenue	-	-	$2.44B	$2.31B	$1.89B	$1.61B	$1.81B	$1.82B	$1.85B	$1.73B
Gross profit	-	-	$4.59B	$4.19B	$3.85B	$3.36B	$3.79B	$3.54B	$2.73B	$2.42B
Selling, general and admin	$741.00M	$733.00M	$704.00M	$631.00M	$484.00M	$407.00M	$406.00M	$1.21B	$416.00M	$319.00M
Operating income	$2.20B	$2.42B	$2.05B	$1.90B	$1.88B	$1.42B	$2.01B	$1.92B	$1.74B	$1.67B
Pre-tax income	$1.68B	$1.81B	$1.45B	$1.36B	$1.36B	$816.00M	$1.45B	$1.38B	$1.10B	$1.20B
Income tax	$483.00M	$364.00M	-$265.00M	-$117.00M	$110.00M	$66.00M	$341.00M	$238.00M	-$134.00M	$244.00M
Net income	$776.00M	$1.02B	$1.19B	$1.01B	$838.00M	$486.00M	$643.00M	$612.00M	$626.00M	$346.00M
EPS, basic	$2.36	$3.21	$3.82	$3.28	$2.71	$1.61	$2.40	$2.46	$2.64	$1.48
EPS, diluted	$2.35	$3.18	$3.76	$3.25	$2.69	$1.60	$2.37	$2.42	$2.54	$1.45
Diluted shares	457.0M	454.0M	456.0M	455.0M	464.0M	468.0M	469.0M	473.0M	477.0M	470.0M

Balance sheet

Balance sheet
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Cash and equivalents	$1.16B	$1.33B	$1.14B	$1.18B	$1.09B	$1.56B	$1.53B	$913.00M	$1.10B	$1.48B
Inventory	$205.00M	$142.00M	$166.00M	$133.00M	$96.00M	$96.00M	$84.00M	$75.00M	$78.00M	$71.80M
Current assets	$2.83B	$2.28B	$2.17B	$2.05B	$1.82B	$2.26B	$2.20B	$1.50B	$1.75B	$2.10B
Goodwill	$6.31B	$5.99B	$5.78B	$5.69B	$6.01B	$5.74B	$5.65B	$5.49B	$5.78B	$4.68B
Total assets	$25.61B	$24.63B	$23.39B	$22.75B	$23.25B	$22.78B	$22.36B	$20.14B	$21.22B	$19.12B
Current liabilities	$2.89B	$2.36B	$2.14B	$2.12B	$1.88B	$1.60B	$1.70B	$1.41B	$1.66B	$1.21B
Short-term debt	$32.00M	$187.00M	$67.00M	$95.00M	$62.00M	$79.00M	$74.00M	$70.00M	$57.00M	$74.80M
Long-term debt	$13.25B	$13.46B	$12.85B	$12.84B	$12.92B	$12.40B	$11.76B	$11.82B	$11.80B	$8.41B
Total debt	$13.28B	$13.64B	$12.92B	$12.93B	$12.98B	$12.48B	$11.83B	$11.89B	$11.86B	$8.48B
Total liabilities	$20.46B	$19.79B	$18.66B	$18.48B	$19.39B	$19.06B	$18.10B	$16.52B	$16.66B	$12.34B
Shareholders' equity	$3.63B	$4.84B	$4.73B	$4.27B	$3.85B	$3.72B	$4.26B	$3.62B	$4.56B	$3.49B

Cash flow

Cash flow
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Operating cash flow	$1.71B	$1.50B	$1.32B	$1.49B	$1.73B	$921.00M	$1.48B	$1.17B	$1.39B	$1.25B
Capital expenditures	$265.00M	$201.00M	$120.00M	$100.00M	$106.00M	$117.00M	$62.00M	$86.00M	$37.00M	$34.00M
Free cash flow	$1.45B	$1.30B	$1.20B	$1.39B	$1.62B	$804.00M	$1.41B	$1.08B	$1.35B	$1.22B
Investing cash flow	-$318.00M	-$660.00M	$11.00M	-$64.00M	-$1.10B	-$79.00M	-$30.00M	-$44.00M	-$858.00M	$27.00M
Financing cash flow	-$1.44B	-$625.00M	-$1.37B	-$1.31B	-$1.09B	-$821.00M	-$842.00M	-$1.28B	-$936.00M	-$591.00M
Dividends paid	$1.11B	$1.03B	$990.00M	$971.00M	$974.00M	$959.00M	$901.00M	$728.00M	$664.00M	$538.00M
Share repurchases	$0	$0	$500.00M	$326.00M	$551.00M	$0	$0	-	-	-
Stock-based compensation	$151.00M	$172.00M	$194.00M	$136.00M	$102.00M	$84.00M	$74.00M	$48.00M	$48.00M	$35.00M
Depreciation and amortization	$301.00M	$264.00M	$191.00M	$190.00M	$201.00M	$189.00M	$185.00M	$180.00M	$182.00M	$172.00M

Key ratios

Key ratios
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue growth, YoY	12.2%	19.7%	7.9%	13.3%	15.5%	-11.3%	4.6%	17.1%	10.4%	2.3%
Net income growth, YoY	-24.0%	-14.2%	18.1%	20.3%	72.4%	-24.4%	5.1%	-2.2%	80.9%	233.0%
EPS growth, YoY	-26.1%	-15.4%	15.7%	20.8%	68.1%	-32.5%	-2.1%	-4.7%	75.2%	190.0%
Gross margin	-	-	65.3%	64.5%	67.1%	67.6%	67.6%	66.1%	59.6%	58.3%
Operating margin	23.3%	28.8%	29.2%	29.2%	32.7%	28.6%	35.8%	35.8%	37.9%	40.2%
Net margin	8.2%	12.1%	16.9%	15.5%	14.6%	9.8%	11.5%	11.4%	13.7%	8.3%
Free cash flow margin	15.4%	15.5%	17.1%	21.4%	28.2%	16.2%	25.2%	20.1%	29.6%	29.3%
Return on equity	21.4%	21.1%	25.2%	23.6%	21.7%	13.1%	15.1%	16.9%	13.7%	9.9%
Return on assets	3.0%	4.1%	5.1%	4.4%	3.6%	2.1%	2.9%	3.0%	2.9%	1.8%
Current ratio	0.98	0.97	1.01	0.97	0.97	1.41	1.29	1.07	1.06	1.73
Debt to equity	3.65	2.82	2.73	3.03	3.37	3.35	2.78	3.29	2.60	2.43

Income statement

Income statement
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue	$2.52B	$2.52B	$2.26B	$2.47B	$2.45B	$2.41B	$2.11B	$2.30B	$2.29B	$2.08B	$1.74B	$1.82B
Cost of revenue	-	-	-	-	-	-	-	-	-	-	$606.00M	$643.00M
Gross profit	-	-	-	-	-	-	-	-	-	-	$1.13B	$1.18B
Selling, general and admin	$183.00M	$181.00M	$180.00M	$192.00M	$170.00M	$188.00M	$191.00M	$199.00M	$176.00M	$185.00M	$173.00M	$197.00M
Operating income	$696.00M	$716.00M	$606.00M	$621.00M	$663.00M	$483.00M	$435.00M	$635.00M	$577.00M	$663.00M	$544.00M	$468.00M
Pre-tax income	$571.00M	$592.00M	$483.00M	$494.00M	$534.00M	$351.00M	$305.00M	$500.00M	$429.00M	$484.00M	$396.00M	$316.00M
Income tax	-$133.00M	-$73.00M	$38.00M	$220.00M	$94.00M	$87.00M	$82.00M	$139.00M	$72.00M	$85.00M	$68.00M	-$410.00M
Net income	$542.00M	$665.00M	$445.00M	$113.00M	$315.00M	$263.00M	$221.00M	$259.00M	$252.00M	$399.00M	$328.00M	$508.00M
EPS, basic	$1.55	$1.46	$0.98	$0.33	$0.96	$0.58	$0.49	$0.80	$0.79	$0.89	$0.73	$1.64
EPS, diluted	$1.54	$1.45	$0.97	$0.33	$0.96	$0.57	$0.49	$0.79	$0.79	$0.88	$0.72	$1.59
Diluted shares	457.0M	460.0M	459.0M	-	457.0M	457.0M	456.0M	-	454.0M	453.0M	453.0M	-

Balance sheet

Balance sheet
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Cash and equivalents	$974.00M	$1.06B	$1.01B	$1.16B	$1.21B	$1.03B	$899.00M	$1.33B	$1.18B	$942.00M	$1.05B	$1.14B
Inventory	$237.00M	$224.00M	$203.00M	$205.00M	$216.00M	$167.00M	$159.00M	$142.00M	$169.00M	$160.00M	$152.00M	$166.00M
Current assets	$2.31B	$2.34B	$2.15B	$2.83B	$3.02B	$2.79B	$2.53B	$2.28B	$2.25B	$2.03B	$2.07B	$2.17B
Goodwill	$6.17B	$6.18B	$6.25B	$6.31B	$6.22B	$6.30B	$6.10B	$5.99B	$6.19B	$6.14B	$5.70B	$5.78B
Total assets	$25.26B	$25.02B	$24.88B	$25.61B	$25.67B	$25.69B	$24.88B	$24.63B	$25.07B	$24.85B	$23.14B	$23.39B
Current liabilities	$2.42B	$2.31B	$2.18B	$2.89B	$2.85B	$2.75B	$2.63B	$2.36B	$2.21B	$2.62B	$1.92B	$2.14B
Short-term debt	$56.00M	$48.00M	$40.00M	$32.00M	$79.00M	$185.00M	$183.00M	$187.00M	$88.00M	$580.00M	$75.00M	$67.00M
Long-term debt	$13.18B	$13.21B	$13.23B	$13.25B	$13.41B	$13.43B	$13.44B	$13.46B	$13.57B	$13.09B	$12.83B	$12.85B
Total debt	$13.24B	$13.25B	$13.27B	$13.28B	$13.49B	$13.61B	$13.62B	$13.64B	$13.66B	$13.67B	$12.91B	$12.92B
Total liabilities	$19.73B	$19.63B	$19.59B	$20.46B	$20.50B	$20.60B	$20.06B	$19.79B	$20.03B	$19.90B	$18.31B	$18.66B
Shareholders' equity	$3.94B	$5.39B	$5.29B	$3.63B	$5.17B	$5.09B	$4.82B	$4.84B	$5.04B	$4.95B	$4.83B	$4.73B

Cash flow

Cash flow
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Operating cash flow	$551.00M	$530.00M	$227.00M	$555.00M	$592.00M	$449.00M	$118.00M	$481.00M	$540.00M	$334.00M	$148.00M	$403.00M
Capital expenditures	$72.00M	$51.00M	$58.00M	$102.00M	$61.00M	$38.00M	$64.00M	$77.00M	$55.00M	$43.00M	$26.00M	$47.00M
Free cash flow	$479.00M	$479.00M	$169.00M	$453.00M	$531.00M	$411.00M	$54.00M	$404.00M	$485.00M	$291.00M	$122.00M	$356.00M
Investing cash flow	-$58.00M	-$27.00M	-$33.00M	-$105.00M	-$11.00M	-$18.00M	-$184.00M	-$44.00M	-$57.00M	-$528.00M	-$31.00M	$22.00M
Financing cash flow	-$579.00M	-$447.00M	-$306.00M	-$484.00M	-$397.00M	-$290.00M	-$265.00M	-$260.00M	-$253.00M	$91.00M	-$203.00M	-$600.00M
Dividends paid	$296.00M	$296.00M	$283.00M	$282.00M	$282.00M	$282.00M	$262.00M	$262.00M	$261.00M	$261.00M	$245.00M	$249.00M
Share repurchases	-	$138.00M	$32.00M	-	-	$0	$0	$0	-	-	-	$385.00M
Stock-based compensation	$34.00M	$35.00M	$35.00M	$38.00M	$32.00M	$33.00M	$48.00M	$48.00M	$37.00M	$41.00M	$46.00M	$53.00M
Depreciation and amortization	$74.00M	$77.00M	$78.00M	$76.00M	$76.00M	$77.00M	$71.00M	$77.00M	$78.00M	$59.00M	$49.00M	$49.00M

Key ratios

Key ratios
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue growth, YoY	3.1%	4.6%	7.3%	7.4%	6.9%	15.9%	21.3%	26.2%	24.7%	17.2%	9.4%	7.8%
Net income growth, YoY	72.1%	152.9%	101.4%	-56.4%	25.0%	-34.1%	-32.6%	-49.0%	0.0%	13.7%	18.4%	121.8%
EPS growth, YoY	60.4%	154.4%	98.0%	-58.2%	21.5%	-35.2%	-31.9%	-50.3%	0.0%	14.3%	18.0%	117.8%
Gross margin	-	-	-	-	-	-	-	-	-	-	65.2%	64.7%
Operating margin	27.6%	28.4%	26.8%	25.2%	27.1%	20.0%	20.6%	27.7%	25.2%	31.9%	31.3%	25.7%
Net margin	21.5%	26.4%	19.7%	4.6%	12.9%	10.9%	10.5%	11.3%	11.0%	19.2%	18.9%	27.9%
Free cash flow margin	19.0%	19.0%	7.5%	18.4%	21.7%	17.1%	2.6%	17.6%	21.2%	14.0%	7.0%	19.6%
Current ratio	0.96	1.01	0.99	0.98	1.06	1.01	0.96	0.97	1.02	0.78	1.08	1.01
Debt to equity	3.36	2.46	2.51	3.65	2.61	2.67	2.82	2.82	2.71	2.76	2.67	2.73

Source: XBRL data Restaurant Brands International Inc. files with the SEC, latest filing dated Oct 29, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

QSR peers

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YUMYum! Brands Inc.	$8.80B	+9.1%	$3.44B	39.1%	$43.98B
CMGChipotle Mexican Grill Inc.	$12.71B	+7.9%	$1.38B	10.8%	$43.56B
DRIDarden Restaurants Inc.	$13.37B	+8.1%	$1.18B	8.8%	$25.61B
YUMCYum China Holdings Inc.	$12.71B	+9.9%	$1.00B	7.9%	$17.11B
ARMKAramark	$19.85B	+11.0%	$382.91M	1.9%	$13.85B
TXRHTexas Roadhouse Inc.	$6.37B	+9.2%	$419.36M	6.6%	$12.07B

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8 questions

What is QSR revenue?
Restaurant Brands International Inc. (QSR) reported $9.78B of revenue for the twelve months ended Sep 30, 2026. That is up 5.5% from the year before. Revenue for fiscal 2025 was $9.43B.
Is QSR profitable?
Yes. Restaurant Brands International Inc. earned $1.76B in net income for the twelve months ended Sep 30, 2026, a net margin of 18.1%.
How much cash and debt does QSR have?
Restaurant Brands International Inc. reported $974.00M in cash and cash equivalents and $13.24B of debt on its most recent balance sheet in SEC filings.
How fast is QSR revenue growing?
Restaurant Brands International Inc.'s revenue changed +12.2% in fiscal 2025, to $9.43B. Its compound annual growth rate was +13.7% over 5 years and +8.8% over 10 years.
What is QSR free cash flow?
Restaurant Brands International Inc. generated $1.58B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $1.86B less capital expenditures.
What is QSR earnings per share?
Diluted earnings per share were $4.29 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
When did QSR last report financial results?
The latest statements here come from Restaurant Brands International Inc.'s 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.
Where does this QSR financial data come from?
Quantisnow builds these statements from the structured XBRL data Restaurant Brands International Inc. files with the SEC. It is provided for information only and is not investment advice.