What is Restaurant Brands International Inc.'s earnings per share (EPS)?

Restaurant Brands International Inc. (QSR) reported diluted earnings per share of $2.35 for fiscal year 2025. This represents a -26.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Restaurant Brands International Inc. (QSR) Financials

QSR

Trailing 12 months to June 30, 2026

Revenue $9.7B +6.5% YoY

Net Income $1.7B +41.5% YoY

EPS (Diluted) $3.72 +40.9% YoY

Free Cash Flow $1.6B +20.5% YoY

Market Cap $24.7B as of Oct 10, 2026

Price / Sales 2.6x on $9.7B revenue, trailing 12 months to June 30, 2026

Price / Earnings 14.5x on $1.7B net income, trailing 12 months to June 30, 2026

Price / Book 6.4x on $3.9B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the QSR SEC filings page.

Restaurant Brands International Inc. (QSR) reported $9.7B in revenue over the twelve months to Jun 30, 2026, up 6.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI QSR FY2025 2026-10-04

Revenue expanded, but margin compression and dilution prevented that growth from translating cleanly into shareholder earnings.

Between FY2023 and FY2025, revenue rose from $7.0B to $9.4B. Operating margin narrowed over the same span, yet operating cash generation rose from $1.3B to $1.7B, separating weaker profitability from continued cash production.

The balance sheet remains tightly funded: short-term assets were slightly below short-term liabilities in FY2025, even as debt-to-equity improved from 4.5x to 3.6x. Equity growth reduced the leverage ratio without removing the business’s substantial reliance on debt financing.

Capital spending increased from $120M to $265M, while free cash flow still rose from $1.2B to $1.4B, indicating reinvestment has not eliminated cash generation. The rising share count alongside lower diluted EPS shows that expansion has not accrued proportionally to each share.

Financial Health Signals

Financial Health Score 59/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Restaurant Brands International Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Restaurant Brands International Inc. has an operating margin of 23.3%, meaning the company retains $23 of operating profit per $100 of revenue. This strong profitability earns a score of 92/100, reflecting efficient cost management and pricing power. This is down from 28.8% the prior year.

Growth

Restaurant Brands International Inc.'s revenue grew 12.2% year-over-year to $9.4B, a solid pace of expansion. This earns a growth score of 77/100.

Leverage

Restaurant Brands International Inc. has elevated debt relative to equity (D/E of 3.65), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 12/100, reflecting increased financial risk.

Liquidity

Restaurant Brands International Inc.'s current ratio of 0.98 is below the typical benchmark, resulting in a score of 18/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Restaurant Brands International Inc. converts 15.4% of revenue into free cash flow ($1.4B). This strong cash generation earns a score of 79/100.

Returns

Restaurant Brands International Inc. earns a strong 29.6% return on equity (ROE), meaning it generates $30 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 76/100. This is down from 46.5% the prior year.

Altman Z-Score Distress

1.47

Restaurant Brands International Inc. scores 1.47, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

6/8

Restaurant Brands International Inc. passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.59x

For every $1 of reported earnings, Restaurant Brands International Inc. generates $1.59 in operating cash flow ($1.7B OCF vs $1.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

4.37x

Restaurant Brands International Inc. earns $4.37 in operating income for every $1 of interest expense ($2.2B vs $504.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$2.5B

YoY+4.6%

QoQ+11.3%

5Y CAGR+11.9%

10Y CAGR+9.3%

Restaurant Brands International Inc. generated $2.5B in revenue in Q2 2026. This represents an increase of 4.6% from the same quarter a year earlier. Against the prior quarter it is up 11.3%.

EBITDA

$793.0M

YoY+41.6%

QoQ+15.9%

5Y CAGR+8.0%

10Y CAGR+5.4%

Restaurant Brands International Inc.'s EBITDA was $793.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 41.6% from the same quarter a year earlier. Against the prior quarter it is up 15.9%.

Net Income

$665.0M

YoY+152.9%

QoQ+49.4%

5Y CAGR+11.2%

10Y CAGR+10.4%

Restaurant Brands International Inc. reported $665.0M in net income in Q2 2026. This represents an increase of 152.9% from the same quarter a year earlier. Against the prior quarter it is up 49.4%.

EPS (Diluted)

$1.45

YoY+154.4%

QoQ+49.5%

5Y CAGR+11.5%

10Y CAGR+14.3%

Restaurant Brands International Inc. earned $1.45 per diluted share (EPS) in Q2 2026. This represents an increase of 154.4% from the same quarter a year earlier. Against the prior quarter it is up 49.5%.

Cash & Balance Sheet

Free Cash Flow

$479.0M

YoY+16.5%

QoQ+183.4%

5Y CAGR+1.3%

10Y CAGR+4.3%

Restaurant Brands International Inc. generated $479.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 16.5% from the same quarter a year earlier. Against the prior quarter it is up 183.4%.

Cash & Debt

$1.1B

YoY+3.6%

QoQ+5.0%

5Y CAGR-9.6%

10Y CAGR+0.6%

Restaurant Brands International Inc. held $1.1B in cash against $13.2B in long-term debt as of Q2 2026.

Dividends Per Share

$0.65

YoY+4.8%

QoQ0.0%

Restaurant Brands International Inc. paid $0.65 per share in dividends in Q2 2026. This represents an increase of 4.8% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

349M

YoY+6.5%

QoQ+0.5%

5Y CAGR+2.5%

10Y CAGR+4.1%

Restaurant Brands International Inc. had 349M shares outstanding in Q2 2026. This represents an increase of 6.5% from the same quarter a year earlier. Against the prior quarter it is up 0.5%.

Margins & Returns

Operating Margin

28.4%

YoY+8.4pp

QoQ+1.6pp

5Y change-5.5pp

10Y change-12.3pp

Restaurant Brands International Inc.'s operating margin was 28.4% in Q2 2026, reflecting core business profitability. This is up 8.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.6 percentage points.

Net Margin

26.4%

YoY+15.5pp

QoQ+6.7pp

5Y change-0.8pp

10Y change+2.6pp

Restaurant Brands International Inc.'s net profit margin was 26.4% in Q2 2026, showing the share of revenue converted to profit. This is up 15.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 6.7 percentage points.

Return on Equity

17.3%

YoY+9.3pp

QoQ+5.4pp

5Y change+2.0pp

10Y change+2.7pp

Restaurant Brands International Inc.'s ROE was 17.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 9.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.4 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$138.0M

QoQ+331.3%

Restaurant Brands International Inc. spent $138.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is up 331.3%.

Capital Expenditures

$51.0M

YoY+34.2%

QoQ-12.1%

5Y CAGR+10.5%

10Y CAGR+21.6%

Restaurant Brands International Inc. invested $51.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 34.2% from the same quarter a year earlier. Against the prior quarter it is down 12.1%.

R&D Spending

Not reported for Q2 2026.

QSR Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

QSR quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Revenue	$9.7B	$9.4B+12.2%	$8.4B+19.7%	$7.0B+7.9%	$6.5B+13.3%	$5.7B+15.5%	$5.0B-11.3%	$5.6B+4.6%	$5.4B+17.1%	$4.6B+10.4%	$4.1B+2.3%	$4.1B+238.0%	$1.2B+4.6%	$1.1B-41.8%	$2.0B
Cost of Revenue	N/A	N/A	N/A	$2.4B+5.3%	$2.3B+22.3%	$1.9B+17.4%	$1.6B-11.2%	$1.8B-0.3%	$1.8B-1.7%	$1.9B+7.1%	$1.7B-4.6%	$1.8B+1057.0%	$156.4M-19.9%	$195.3M-81.2%	$1.0B
Gross Profit	N/A	N/A	N/A	$4.6B+9.4%	$4.2B+8.9%	$3.8B+14.6%	$3.4B-11.4%	$3.8B+7.1%	$3.5B+29.8%	$2.7B+12.7%	$2.4B+7.9%	$2.2B+171.3%	$826.5M+11.2%	$743.1M+2.2%	$727.4M
SG&A Expenses	$723.0M	$741.0M+1.1%	$733.0M+4.1%	$704.0M+11.6%	$631.0M+30.4%	$484.0M-61.7%	$1.3B0.0%	$1.3B+4.1%	$1.2B+191.8%	$416.0M+30.4%	$319.0M-27.1%	$437.7M+26.7%	$345.4M+42.5%	$242.4M-30.3%	$347.6M
Operating Income	$2.6B	$2.2B-9.0%	$2.4B+17.9%	$2.1B+8.1%	$1.9B+1.0%	$1.9B+32.1%	$1.4B-29.1%	$2.0B+4.7%	$1.9B+10.5%	$1.7B+4.1%	$1.7B+39.8%	$1.2B+558.3%	$181.1M-65.3%	$522.2M+25.0%	$417.7M
EBITDA	N/A	$2.5B-6.7%	$2.7B+19.7%	$2.2B+7.4%	$2.1B+0.4%	$2.1B+29.1%	$1.6B-26.5%	$2.2B+4.5%	$2.1B+9.4%	$1.9B+4.2%	$1.8B+33.8%	$1.4B+449.9%	$249.9M-57.5%	$588.0M+10.5%	$531.9M
Interest Expense	$487.0M	$504.0M-11.9%	$572.0M-0.7%	$576.0M+16.8%	$493.0M+6.9%	$461.0M-2.1%	$471.0M-6.4%	$503.0M+1.0%	$498.0M+2.9%	$484.0M+17.5%	$412.0M-3.5%	$426.8M+60.5%	$266.0M+33.0%	$200.0M-10.6%	$223.8M
Income Tax	$279.0M	$483.0M+32.7%	$364.0M+237.4%	-$265.0M-126.5%	-$117.0M-206.4%	$110.0M+66.7%	$66.0M-80.6%	$341.0M+43.3%	$238.0M+277.6%	-$134.0M-154.9%	$244.0M+50.4%	$162.2M+960.1%	$15.3M-82.7%	$88.5M+110.7%	$42.0M
Net Income	$1.7B	$1.1B-25.6%	$1.4B-15.9%	$1.7B+15.9%	$1.5B+18.3%	$1.3B+67.1%	$750.0M-32.5%	$1.1B-2.9%	$1.1B-7.4%	$1.2B+29.2%	$956.0M+86.8%	$511.7M+217.0%	$161.4M-30.9%	$233.7M+98.6%	$117.7M
EPS (Basic)	N/A	$2.36-26.5%	$3.21-16.0%	$3.82+16.5%	$3.28+21.0%	$2.71+68.3%	$1.61-32.9%	$2.40-2.4%	$2.46-6.8%	$2.64+78.4%	$1.48+190.2%	$0.51+144.0%	-$1.16-273.1%	$0.67+97.1%	$0.34
EPS (Diluted)	$3.72	$2.35-26.1%	$3.18-15.4%	$3.76+15.7%	$3.25+20.8%	$2.69+68.1%	$1.60-32.5%	$2.37-2.1%	$2.42-4.7%	$2.54+75.2%	$1.45	$0.50+121.6%	-$2.32-456.9%	$0.65+97.0%	$0.33
Diluted Shares (Avg)	N/A	457M+0.7%	454M-0.4%	456M+0.2%	455M-1.9%	464M-0.9%	468M-0.2%	469M-0.8%	473M-0.8%	477M+1.5%	470M	476M+32.9%	358M+0.1%	358M+1.0%	354M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$2.5B+4.6%	$2.3B+7.3%	$2.5B+7.4%	$2.4B+6.9%	$2.4B+15.9%	$2.1B+21.3%	$2.3B+26.2%	$2.3B+24.7%
SG&A Expenses	$181.0M-3.7%	$180.0M-5.8%	$192.0M-3.5%	$170.0M-3.4%	$188.0M+1.6%	$191.0M+10.4%	$199.0M+1.0%	$176.0M+4.1%
Operating Income	$716.0M+48.2%	$606.0M+39.3%	$621.0M-2.2%	$663.0M+14.9%	$483.0M-27.1%	$435.0M-20.0%	$635.0M+35.7%	$577.0M-0.9%
EBITDA	$793.0M+41.6%	$684.0M+35.2%	$698.0M-2.1%	$739.0M+12.8%	$560.0M-22.4%	$506.0M-14.7%	$713.0M+37.9%	$655.0M+4.1%
Interest Expense	$118.0M-7.1%	$119.0M-6.3%	$123.0M-8.2%	$127.0M-12.4%	$127.0M-12.4%	$127.0M-14.2%	$134.0M-11.8%	$145.0M+0.7%
Income Tax	-$73.0M-183.9%	$38.0M-53.7%	$220.0M+58.3%	$94.0M+30.6%	$87.0M+2.4%	$82.0M+20.6%	$139.0M+133.9%	$72.0M+22.0%
Net Income	$665.0M+152.9%	$445.0M+101.4%	$155.0M-57.1%	$436.0M+22.1%	$263.0M-34.1%	$221.0M-32.6%	$361.0M-50.3%	$357.0M-1.9%
EPS (Basic)	$1.46+151.7%	$0.98+100.0%	$0.33-58.8%	$0.96+21.5%	$0.58-34.8%	$0.49-32.9%	$0.80-50.9%	$0.79-1.3%
EPS (Diluted)	$1.45+154.4%	$0.97+98.0%	$0.34-57.0%	$0.96+21.5%	$0.57-35.2%	$0.49-31.9%	$0.79-50.6%	$0.790.0%
Diluted Shares (Avg)	460M+0.7%	459M+0.7%	N/A	457M+0.7%	457M+0.9%	456M+0.7%	N/A	454M-1.1%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

QSR Balance Sheet

QSR quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Total Assets	$25.6B+4.0%	$24.6B+5.3%	$23.4B+2.8%	$22.7B-2.2%	$23.2B+2.1%	$22.8B+1.9%	$22.4B+11.0%	$20.1B-5.1%	$21.2B+11.0%	$19.1B+3.9%	$18.4B-13.7%	$21.3B+268.9%	$5.8B	N/A
Current Assets	$2.8B+24.0%	$2.3B+5.0%	$2.2B+6.1%	$2.0B+12.8%	$1.8B-19.8%	$2.3B+3.1%	$2.2B+46.4%	$1.5B-14.3%	$1.8B-16.5%	$2.1B+53.1%	$1.4B-48.1%	$2.6B+147.9%	$1.1B	N/A
Cash & Equivalents	$1.2B-12.8%	$1.3B+17.1%	$1.1B-3.3%	$1.2B+8.4%	$1.1B-30.3%	$1.6B+1.8%	$1.5B+67.9%	$913.0M-16.8%	$1.1B-25.7%	$1.5B+86.4%	$792.0M-56.1%	$1.8B+129.2%	$786.9M+43.9%	$546.7M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$205.0M+44.4%	$142.0M-14.5%	$166.0M+24.8%	$133.0M+38.5%	$96.0M0.0%	$96.0M+14.3%	$84.0M+12.0%	$75.0M-3.8%	$78.0M+8.6%	$71.8M-11.7%	$81.3M-16.9%	$97.8M+8050.0%	$1.2M	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$6.3B+5.3%	$6.0B+3.7%	$5.8B+1.5%	$5.7B-5.3%	$6.0B+4.7%	$5.7B+1.6%	$5.7B+3.0%	$5.5B-5.1%	$5.8B+23.7%	$4.7B+2.2%	$4.6B-12.6%	$5.2B+731.1%	$630.0M+1.7%	$619.2M
Total Liabilities	$20.5B+3.4%	$19.8B+6.0%	$18.7B+1.0%	$18.5B-4.7%	$19.4B+1.8%	$19.1B+5.3%	$18.1B+9.6%	$16.5B-0.8%	$16.7B-4.4%	$17.4B+2.0%	$17.1B-12.3%	$19.5B+355.9%	$4.3B	N/A
Current Liabilities	$2.9B+22.3%	$2.4B+10.3%	$2.1B+1.3%	$2.1B+12.7%	$1.9B+17.3%	$1.6B-6.0%	$1.7B+21.0%	$1.4B-14.9%	$1.7B+36.7%	$1.2B+8.0%	$1.1B-42.4%	$1.9B+462.4%	$346.0M	N/A
Non-Current Liabilities	$17.6B+0.8%	$17.4B+5.5%	$16.5B+0.9%	$16.4B-6.6%	$17.5B+0.3%	$17.5B+6.4%	$16.4B+8.5%	$15.1B+0.7%	$15.0B-7.4%	$16.2B+1.6%	$16.0B-8.9%	$17.5B+346.5%	$3.9B	N/A
Long-Term Debt	$13.3B-1.5%	$13.5B+4.7%	$12.9B+0.1%	$12.8B-0.6%	$12.9B+4.2%	$12.4B+5.4%	$11.8B-0.5%	$11.8B+0.2%	$11.8B+40.3%	$8.4B-0.6%	$8.5B-4.1%	$8.8B+211.1%	$2.8B	N/A
Total Equity	$3.6B+16.8%	$3.1B+8.5%	$2.9B+14.7%	$2.5B+11.7%	$2.2B+3.2%	$2.2B-13.0%	$2.5B+54.6%	$1.6B-27.7%	$2.2B+30.8%	$1.7B+27.4%	$1.3B-28.8%	$1.9B+23.9%	$1.5B+29.0%	$1.2B
Retained Earnings	$1.8B-3.5%	$1.9B+16.3%	$1.6B+42.6%	$1.1B+41.7%	$791.0M+27.2%	$622.0M-19.7%	$775.0M+15.0%	$674.0M+3.5%	$651.0M+46.1%	$445.7M+81.3%	$245.8M+6.4%	$231.0M+2.4%	$225.5M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$25.0B-2.6%	$24.9B0.0%	$25.6B+4.0%	$25.7B+2.4%	$25.7B+3.4%	$24.9B+7.5%	$24.6B+5.3%	$25.1B+8.6%
Current Assets	$2.3B-16.0%	$2.2B-14.9%	$2.8B+24.0%	$3.0B+33.7%	$2.8B+37.3%	$2.5B+22.2%	$2.3B+5.0%	$2.3B-5.4%
Cash & Equivalents	$1.1B+3.6%	$1.0B+12.6%	$1.2B-12.8%	$1.2B+2.6%	$1.0B+8.9%	$899.0M-14.3%	$1.3B+17.1%	$1.2B-10.2%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$224.0M+34.1%	$203.0M+27.7%	$205.0M+44.4%	$216.0M+27.8%	$167.0M+4.4%	$159.0M+4.6%	$142.0M-14.5%	$169.0M+5.6%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$6.2B-1.9%	$6.3B+2.5%	$6.3B+5.3%	$6.2B+0.5%	$6.3B+2.6%	$6.1B+7.0%	$6.0B+3.7%	$6.2B+8.9%
Total Liabilities	$19.6B-4.7%	$19.6B-2.3%	$20.5B+3.4%	$20.5B+2.4%	$20.6B+3.5%	$20.1B+9.5%	$19.8B+6.0%	$20.0B+8.8%
Current Liabilities	$2.3B-16.0%	$2.2B-17.1%	$2.9B+22.3%	$2.8B+28.9%	$2.8B+5.2%	$2.6B+36.5%	$2.4B+10.3%	$2.2B+6.6%
Non-Current Liabilities	$17.3B-3.0%	$17.4B-0.1%	$17.6B+0.8%	$17.7B-0.9%	$17.8B+3.3%	$17.4B+6.4%	$17.4B+5.5%	$17.8B+9.1%
Long-Term Debt	$13.2B-1.7%	$13.2B-1.6%	$13.3B-1.5%	$13.4B-1.1%	$13.4B+2.6%	$13.4B+4.7%	$13.5B+4.7%	$13.6B+5.5%
Total Equity	$3.9B+16.1%	$3.7B+20.1%	$3.6B+16.8%	$3.4B+4.5%	$3.3B+8.1%	$3.1B+5.0%	$3.1B+8.5%	$3.2B+11.3%
Retained Earnings	$2.2B+21.5%	$1.9B+5.1%	$1.8B-3.5%	$1.9B+6.0%	$1.8B+3.5%	$1.8B+10.4%	$1.9B+16.3%	$1.8B+41.5%

Not reported in any period shown, so not listed: Accounts Receivable.

QSR Cash Flow Statement

QSR quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Operating Cash Flow	$1.9B	$1.7B+14.0%	$1.5B+13.6%	$1.3B-11.2%	$1.5B-13.7%	$1.7B+87.4%	$921.0M-37.6%	$1.5B+26.7%	$1.2B-16.2%	$1.4B+11.3%	$1.3B+3.8%	$1.2B+364.6%	$259.3M-20.3%	$325.2M+44.9%	$224.4M
Depreciation & Amortization	N/A	$301.0M+14.0%	$264.0M+38.2%	$191.0M+0.5%	$190.0M-5.5%	$201.0M+6.3%	$189.0M+2.2%	$185.0M+2.8%	$180.0M-1.1%	$182.0M+5.8%	$172.0M-5.5%	$182.0M+164.5%	$68.8M+4.6%	$65.8M-42.4%	$114.2M
Stock-Based Compensation	N/A	$151.0M-12.2%	$172.0M-11.3%	$194.0M+42.6%	$136.0M+33.3%	$102.0M+21.4%	$84.0M+13.5%	$74.0M+54.2%	$48.0M0.0%	$48.0M+37.1%	$35.0M-31.1%	$50.8M-12.3%	$57.9M+291.2%	$14.8M+21.3%	$12.2M
Capital Expenditures	$272.0M	$265.0M+31.8%	$201.0M+67.5%	$120.0M+20.0%	$100.0M-5.7%	$106.0M-9.4%	$117.0M+88.7%	$62.0M-27.9%	$86.0M+132.4%	$37.0M+8.8%	$34.0M-70.5%	$115.3M+273.1%	$30.9M+21.2%	$25.5M-63.7%	$70.2M
Free Cash Flow	$1.6B	$1.4B+11.3%	$1.3B+8.2%	$1.2B-13.5%	$1.4B-14.2%	$1.6B+101.5%	$804.0M-43.1%	$1.4B+31.0%	$1.1B-20.3%	$1.4B+11.3%	$1.2B+11.6%	$1.1B+377.0%	$228.4M-23.8%	$299.7M+94.4%	$154.2M
Investing Cash Flow	-$176.0M	-$318.0M+51.8%	-$660.0M-6100.0%	$11.0M+117.2%	-$64.0M+94.2%	-$1.1B-1296.2%	-$79.0M-163.3%	-$30.0M+31.8%	-$44.0M+94.9%	-$858.0M-3277.8%	$27.0M+143.9%	-$61.5M	N/A	N/A	N/A
Financing Cash Flow	-$1.6B	-$1.4B-129.8%	-$625.0M+54.5%	-$1.4B-5.1%	-$1.3B-19.6%	-$1.1B-33.1%	-$821.0M+2.5%	-$842.0M+34.5%	-$1.3B-37.3%	-$936.0M-58.4%	-$591.0M+72.1%	-$2.1B	N/A	N/A	N/A
Dividends Paid	$1.1B	$1.1B+7.7%	$1.0B+3.9%	$990.0M+2.0%	$971.0M-0.3%	$974.0M+1.6%	$959.0M+6.4%	$901.0M+23.8%	$728.0M+9.6%	$664.0M+23.4%	$538.0M+48.5%	$362.4M+243.2%	$105.6M+25.3%	$84.3M+502.1%	$14.0M
Share Buybacks	N/A	$0	$0-100.0%	$500.0M+53.4%	$326.0M-40.8%	$551.0M	$0	$0	N/A	N/A	N/A	N/A	N/A	$7.3M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$530.0M+18.0%	$227.0M+92.4%	$555.0M+15.4%	$592.0M+9.6%	$449.0M+34.4%	$118.0M-20.3%	$481.0M+19.4%	$540.0M+24.7%
Depreciation & Amortization	$77.0M0.0%	$78.0M+9.9%	$76.0M-1.3%	$76.0M-2.6%	$77.0M+30.5%	$71.0M+44.9%	$77.0M+57.1%	$78.0M+66.0%
Stock-Based Compensation	N/A	$35.0M-27.1%	N/A	N/A	N/A	$48.0M+4.3%	N/A	N/A
Capital Expenditures	$51.0M+34.2%	$58.0M-9.4%	$102.0M+32.5%	$61.0M+10.9%	$38.0M-11.6%	$64.0M+146.2%	$77.0M+63.8%	$55.0M+120.0%
Free Cash Flow	$479.0M+16.5%	$169.0M+213.0%	$453.0M+12.1%	$531.0M+9.5%	$411.0M+41.2%	$54.0M-55.7%	$404.0M+13.5%	$485.0M+18.9%
Investing Cash Flow	-$27.0M-50.0%	-$33.0M+82.1%	-$105.0M-138.6%	-$11.0M+80.7%	-$18.0M+96.6%	-$184.0M-493.5%	-$44.0M-300.0%	-$57.0M-1800.0%
Financing Cash Flow	-$447.0M-54.1%	-$306.0M-15.5%	-$484.0M-86.2%	-$397.0M-56.9%	-$290.0M-418.7%	-$265.0M-30.5%	-$260.0M+56.7%	-$253.0M+22.4%
Dividends Paid	$296.0M+5.0%	$283.0M+8.0%	$282.0M+7.6%	$282.0M+8.0%	$282.0M+8.0%	$262.0M+6.9%	$262.0M+5.2%	$261.0M+4.8%
Share Buybacks	$138.0M	$32.0M	N/A	N/A	$0	$0	$0-100.0%	N/A

QSR Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

QSR quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Gross Margin	N/A	N/A	65.3%+0.9pp	64.5%-2.6pp	67.1%-0.5pp	67.6%-0.1pp	67.6%+1.6pp	66.1%+6.5pp	59.6%+1.2pp	58.4%+3.0pp	55.4%-13.6pp	68.9%+4.1pp	64.8%+27.9pp	36.9%
Operating Margin	23.3%-5.4pp	28.8%-0.4pp	29.2%0.0pp	29.2%-3.6pp	32.7%+4.1pp	28.6%-7.2pp	35.8%0.0pp	35.8%-2.1pp	37.9%-2.3pp	40.2%+10.8pp	29.4%+14.3pp	15.1%-30.4pp	45.6%+24.4pp	21.2%
Net Margin	11.4%-5.8pp	17.2%-7.3pp	24.5%+1.7pp	22.8%+1.0pp	21.8%+6.7pp	15.1%-4.7pp	19.8%-1.5pp	21.4%-5.6pp	27.0%+3.9pp	23.1%+10.4pp	12.6%-0.8pp	13.5%-6.9pp	20.4%+14.4pp	6.0%
Return on Equity	29.6%-16.9pp	46.5%-13.5pp	59.9%+0.6pp	59.3%+3.3pp	56.0%+21.4pp	34.6%-10.0pp	44.6%-26.4pp	71.0%+15.5pp	55.5%-0.7pp	56.1%+17.9pp	38.3%+29.7pp	8.6%-6.8pp	15.4%+5.4pp	10.0%
Return on Assets	4.2%-1.7pp	5.9%-1.5pp	7.3%+0.8pp	6.5%+1.1pp	5.4%+2.1pp	3.3%-1.7pp	5.0%-0.7pp	5.7%-0.1pp	5.8%+0.8pp	5.0%+2.2pp	2.8%+2.0pp	0.8%-3.3pp	4.0%	N/A
Current Ratio	0.980.0x	0.970.0x	1.010.0x	0.970.0x	0.97-0.4x	1.41+0.1x	1.29+0.2x	1.070.0x	1.06-0.7x	1.73+0.5x	1.22-0.1x	1.36-1.7x	3.08	N/A
Debt-to-Equity	3.65-0.7x	4.33-0.2x	4.49-0.7x	5.14-0.6x	5.77+0.1x	5.72+1.0x	4.72-2.6x	7.34+2.0x	5.30+0.4x	4.94-1.4x	6.33+1.6x	4.70+2.8x	1.87	N/A
Asset Turnover	0.370.0x	0.340.0x	0.300.0x	0.290.0x	0.250.0x	0.220.0x	0.250.0x	0.27+0.1x	0.220.0x	0.220.0x	0.22+0.2x	0.06-0.1x	0.20	N/A
FCF Margin	15.4%-0.1pp	15.5%-1.6pp	17.1%-4.2pp	21.4%-6.9pp	28.2%+12.0pp	16.2%-9.1pp	25.2%+5.1pp	20.1%-9.4pp	29.6%+0.3pp	29.3%+2.4pp	26.9%+7.8pp	19.1%-7.1pp	26.1%+18.3pp	7.8%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	28.4%+8.4pp	26.8%+6.1pp	25.2%-2.5pp	27.1%+1.9pp	20.0%-11.8pp	20.6%-10.7pp	27.7%+2.0pp	25.2%-6.5pp
Net Margin	26.4%+15.5pp	19.7%+9.2pp	6.3%-9.4pp	17.8%+2.2pp	10.9%-8.3pp	10.5%-8.4pp	15.7%-24.2pp	15.6%-4.2pp
Return on Equity	17.3%+9.3pp	11.9%+4.8pp	4.3%-7.3pp	12.9%+1.9pp	7.9%-5.1pp	7.1%-4.0pp	11.6%-13.7pp	11.0%-1.5pp
Return on Assets	2.7%+1.6pp	1.8%+0.9pp	0.6%-0.9pp	1.7%+0.3pp	1.0%-0.6pp	0.9%-0.5pp	1.5%-1.6pp	1.4%-0.2pp
Current Ratio	1.010.0x	0.990.0x	0.980.0x	1.060.0x	1.01+0.2x	0.96-0.1x	0.970.0x	1.02-0.1x
Debt-to-Equity	3.43-0.6x	3.53-0.8x	3.65-0.7x	3.97-0.2x	4.05-0.2x	4.310.0x	4.33-0.2x	4.19-0.2x
Asset Turnover	0.100.0x	0.090.0x	0.100.0x	0.100.0x	0.090.0x	0.080.0x	0.090.0x	0.090.0x
FCF Margin	19.0%+2.0pp	7.5%+4.9pp	18.4%+0.8pp	21.7%+0.5pp	17.1%+3.1pp	2.6%-4.5pp	17.6%-2.0pp	21.2%-1.0pp

Not reported in any period shown, so not listed: Gross Margin.

Note: The current ratio is below 1.0 (0.98), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Restaurant Brands International Inc. QSR	FY2025	$9.4B	$1.1B	11.4%	$24.7B	59/100
Darden Restaurants, Inc. DRI	FY2026	$13.2B	$1.2B	9.1%	$22.4B	57/100
Yum! Brands, Inc. YUM	FY2025	$8.2B	$1.6B	19.0%	$39.5B	65/100
Domino's Pizza Inc. DPZ	FY2025	$4.9B	$601.7M	12.2%	$10.2B	58/100
Yum China Holdings, Inc. YUMC	FY2025	$11.8B	$929.0M	7.9%	$14.5B	53/100
Chipotle Mexican Grill, Inc. CMG	FY2025	$11.9B	$1.5B	12.9%	$41.4B	72/100

Where Restaurant Brands International Inc. Ranks

Frequently Asked Questions

What is Restaurant Brands International Inc.'s annual revenue?

Restaurant Brands International Inc. (QSR) reported $9.4B in total revenue for fiscal year 2025. This represents a 12.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Restaurant Brands International Inc.'s revenue growing?

Restaurant Brands International Inc. (QSR) revenue grew by 12.2% year-over-year, from $8.4B to $9.4B in fiscal year 2025.

Is Restaurant Brands International Inc. profitable?

Yes, Restaurant Brands International Inc. (QSR) reported a net income of $1.1B in fiscal year 2025, with a net profit margin of 11.4%.

What is Restaurant Brands International Inc.'s EBITDA?

Restaurant Brands International Inc. (QSR) had EBITDA of $2.5B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Restaurant Brands International Inc. have?

As of fiscal year 2025, Restaurant Brands International Inc. (QSR) had $1.2B in cash and equivalents against $13.3B in long-term debt.

What is Restaurant Brands International Inc.'s operating margin?

Restaurant Brands International Inc. (QSR) had an operating margin of 23.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Restaurant Brands International Inc.'s net profit margin?

Restaurant Brands International Inc. (QSR) had a net profit margin of 11.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Restaurant Brands International Inc. pay dividends?

Yes, Restaurant Brands International Inc. (QSR) paid $2.48 per share in dividends during fiscal year 2025.

What is Restaurant Brands International Inc.'s return on equity (ROE)?

Restaurant Brands International Inc. (QSR) has a return on equity of 29.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Restaurant Brands International Inc.'s free cash flow?

Restaurant Brands International Inc. (QSR) generated $1.4B in free cash flow during fiscal year 2025. This represents a 11.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Restaurant Brands International Inc.'s operating cash flow?

Restaurant Brands International Inc. (QSR) generated $1.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Restaurant Brands International Inc.'s total assets?

Restaurant Brands International Inc. (QSR) had $25.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Restaurant Brands International Inc.'s capital expenditures?

Restaurant Brands International Inc. (QSR) invested $265.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Restaurant Brands International Inc. have outstanding?

Restaurant Brands International Inc. (QSR) had 346M shares outstanding as of fiscal year 2025.

What is Restaurant Brands International Inc.'s current ratio?

Restaurant Brands International Inc. (QSR) had a current ratio of 0.98 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Restaurant Brands International Inc.'s debt-to-equity ratio?

Restaurant Brands International Inc. (QSR) had a debt-to-equity ratio of 3.65 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Restaurant Brands International Inc.'s return on assets (ROA)?

Restaurant Brands International Inc. (QSR) had a return on assets of 4.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

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

Restaurant Brands International Inc. (QSR) trades at 14.5x earnings, its market capitalization divided by net income of $1.7B net income, trailing 12 months to June 30, 2026. The market capitalization is $24.7B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Restaurant Brands International Inc.'s price-to-sales ratio?

Restaurant Brands International Inc. (QSR) trades at 2.6x sales, its market capitalization divided by revenue of $9.7B revenue, trailing 12 months to June 30, 2026. The market capitalization is $24.7B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Restaurant Brands International Inc.'s Altman Z-Score?

Restaurant Brands International Inc. (QSR) has an Altman Z-Score of 1.47, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Restaurant Brands International Inc.'s Piotroski F-Score?

Restaurant Brands International Inc. (QSR) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Restaurant Brands International Inc.'s earnings high quality?

Restaurant Brands International Inc. (QSR) has an earnings quality ratio of 1.59x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Restaurant Brands International Inc. cover its interest payments?

Restaurant Brands International Inc. (QSR) has an interest coverage ratio of 4.37x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Restaurant Brands International Inc.?

Restaurant Brands International Inc. (QSR) scores 59 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.