Restaurant Brands International
QSR NYSE· Restaurants
Last close · Oct 26, 2026
$74.48
KIRA · Stoqly’s AI analyst, in plain words
- Restaurant Brands International had $9.4B of revenue in fiscal 2025, up 12.2% on the year before. Over five years, revenue changed +13.7% a year on average.
- Its operating margin was 23.3%, down 5.4 pts: of every 100 in sales, about 23 is left after running the business.
- Restaurant Brands International made $1.1B of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 5.5% a year.
- Free cash flow was $1.4B in fiscal 2025, 15.4% of revenue.
- Restaurant Brands International returned $1.1B to shareholders in fiscal 2025, 76% of free cash flow. The diluted share count rose 0.7%.
- Restaurant Brands International owes $12.4B more than it holds in cash, about 5.0 years of operating profit.
Market cap
$34.3B
P/E
20.0x
Revenue
$9.4B
Net income
$1.1B
Free cash flow
$1.4B
Operating margin
23.3%
Restaurant Brands International in 30 seconds · fiscal 2025
Are sales growing?
+12.2%
Yes. Sales grew 12.2% last year.
Does it make a profit?
11.4%
Yes. It keeps 11.4% of every sale as profit.
Does profit turn into cash?
15.4%
Yes. 15.4% of sales ends up as free cash.
Is debt under control?
5.0x
Heavy. Repaying its debt would take 5.0 years of operating profit.
How healthy are the accounts?
6 / 8
Mixed. It passes 6 of 8 health tests.
How is the share priced?
20.0x
One share costs 20.0 times its yearly profit per share. Typical for its sector: 17.7x.
What Restaurant Brands International does
Restaurant Brands International owns four fast-food chains: Tim Hortons, which sells coffee and baked goods; Burger King; Popeyes, which sells fried chicken; and Firehouse Subs. At the end of 2025 it had over 33,000 restaurants in more than 120 countries and territories. Together they had nearly $47 billion in system-wide sales, meaning the sales of all its restaurants, including those owned by franchisees. Franchisees, independent owners who pay the company fees, run over 95% of its restaurants. In the U.S. and Canada, royalties for standard restaurants typically range from 3.0% to 6.0% of sales. The company also leases or subleases about 4,700 properties, mostly to Tim Hortons and Burger King franchisees, who usually pay rent of 8.5% to 10.0% of monthly sales. Tim Hortons also roasts coffee and supplies its Canadian restaurants. The company reports six segments: one for each brand in the U.S.
Biggest risks, in its own words
- Its results depend on independent franchisees, over whose operations it has limited influence.
- Running a large group of its own restaurants, mostly from the Carrols purchase, could hurt its margins and cash flow.
- Growing abroad depends on finding strong partners and joint ventures.
- Rising food, equipment and commodity costs, or supply shortages, could hurt it and its franchisees.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 20, 2026
- Legal name
- RESTAURANT BRANDS INTERNATIONAL INC.
- CIK
- 0001618756
Restaurant Brands International · QSR
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $5.7B | $6.5B | $7.0B | $8.4B | $9.4B |
| Revenue growth | 15.5% | 13.4% | 8.0% | 19.7% | 12.2% |
| Gross margin | 67.1% | 64.5% | 65.3% | — | — |
| Operating margin | 32.7% | 29.2% | 29.2% | 28.8% | 23.3% |
| Net income | $1.3B | $1.5B | $1.7B | $1.4B | $1.1B |
| Net margin | 21.8% | 22.8% | 24.5% | 17.2% | 11.4% |
| Diluted EPS | $2.69 | $3.25 | $3.76 | $3.18 | $2.35 |
| Cash | |||||
| Cash from operations | $1.7B | $1.5B | $1.3B | $1.5B | $1.7B |
| Capital expenditure | $106M | $100M | $120M | $201M | $265M |
| Free cash flow | $1.6B | $1.4B | $1.2B | $1.3B | $1.4B |
| FCF margin | 28.2% | 21.4% | 17.1% | 15.5% | 15.4% |
| Dividends paid | $974M | $971M | $990M | $1.0B | $1.1B |
| Share buybacks | $551M | $326M | $500M | $0.0M | $0.0M |
| Share count change | −0.9% | −1.9% | 0.2% | −0.4% | 0.7% |
| Debt and strength | |||||
| Cash and short-term investments | $1.1B | $1.2B | $1.1B | $1.3B | $1.2B |
| Debt incl. finance leases | $13.3B | $13.3B | $13.3B | $14.0B | $13.6B |
| Shareholders' equity | $2.2B | $2.5B | $2.9B | $3.1B | $3.6B |
| Net debt / EBITDA | 5.9x | 5.8x | 5.4x | 4.7x | 5.0x |
| Current ratio | 1.0x | 1.0x | 1.0x | 1.0x | 1.0x |
| Interest coverage | 4.7x | 3.9x | 2.7x | 3.1x | 3.1x |
| Returns and quality | |||||
| Return on capital | 11.1% | 11.7% | 12.4% | 11.3% | 9.0% |
| Return on equity | 56.9% | 62.6% | 64.0% | 48.4% | 31.9% |
| Piotroski F-score | 6 | 8 | 7 | 5 | 6 |
| Altman Z'' | 0.9 | 0.9 | 1.1 | 1.1 | 1.1 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$55.7M
12 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Restaurant Brands International · QSR
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Restaurant Brands Internatio... QSR | $34.3B | 12.2% | 23.3% | 15.4% | 9.0% | 20.0x | 6 |
| Yum! Brands YUM | $41.4B | 8.8% | 31.3% | 20.0% | 54.8% | 18.8x | 6 |
| Yum China YUMC | $15.9B | 4.4% | 10.9% | 7.1% | — | 16.7x | — |
| Chipotle Mexican Grill CMG | $36.3B | 5.4% | 16.2% | 12.1% | 73.7% | 26.1x | 4 |
| Darden Restaurants DRI | $24.4B | 9.4% | 12.0% | 8.5% | 24.8% | 20.8x | 6 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $74.48 a share, the company is worth $34.3B: 20.0 times its earnings of the last four quarters.
Restaurant Brands International grew sales faster than 4 of its 4 similar companies. Its P/E is higher than 2 of 4.
Source: SEC EDGAR XBRL filings (CIK 0001618756). Data updated October 11, 2026. For information only — not investment advice. Check the original filings before relying on any figure.