Restaurant Brands International

US · QSR #797 by market cap Listed 1970

69.43 -0.81 -1.15%

Live - 5344 symbols - heartbeat 214s ago · 2026-10-08 04:00

Pre-market 69.55 +0.17%

After-hours 69.06 -0.53%

Market cap: 24.21B
P/E (TTM): 18.71
P/B: 6.29
EPS: 2.35
Div yield: 3.66%
52W pos: 38%

Reader sentiment Are you bullish or bearish on QSR?

Anonymous reader poll. Unscientific, not investment advice.

✦ Quant Financial Health how this is computed

Weak

Altman Z-Score is 1.49, below the 1.8 "distress zone" threshold.
Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.

Revenue annual, last 8 years

Latest year +12.23% YoY

Margins

Gross margin: 33.85%
Operating margin: 26.43%
Net margin: 8.23%

Key ratios & quality

Enterprise value: 36.57B
Altman Z-Score: 1.49

Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.

Income statement

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	5.36B	5.60B	4.97B	5.74B	6.51B	7.02B	8.41B	9.43B
Gross profit	3.12B	2.39B	1.97B	2.37B	2.60B	2.80B	3.02B	3.19B
Selling & admin expenses	1.14B	387.00M	388.00M	450.00M	561.00M	704.00M	691.00M	690.00M
Research & development	--	--	--	--	--	--	--	--
Operating profit	1.95B	1.99B	1.57B	1.92B	2.02B	2.08B	2.32B	2.49B
Pretax profit	1.38B	1.45B	816.00M	1.36B	1.37B	1.45B	1.81B	1.68B
Tax	238.00M	341.00M	66.00M	110.00M	-117.00M	-265.00M	364.00M	483.00M
Net profit	1.14B	1.11B	750.00M	1.25B	1.48B	1.72B	1.45B	1.08B
Basic EPS	2	2	2	3	3	4	3	2
Diluted EPS	2.42	2.37	1.60	2.69	3.25	3.76	3.18	2.35

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Revenue	2.11B	2.41B	2.45B	2.47B	2.26B	2.52B
Gross profit	704.00M	815.00M	843.00M	831.00M	763.00M	869.00M
Selling & admin expenses	184.00M	167.00M	162.00M	178.00M	172.00M	176.00M
Research & development	--	--	--	--	--	--
Operating profit	517.00M	645.00M	679.00M	651.00M	586.00M	699.00M
Pretax profit	305.00M	351.00M	534.00M	494.00M	483.00M	592.00M
Tax	82.00M	87.00M	94.00M	220.00M	38.00M	-73.00M
Net profit	221.00M	263.00M	436.00M	155.00M	445.00M	665.00M
Basic EPS	0	1	1	0	1	1
Diluted EPS	0.49	0.57	0.96	0.34	0.97	1.45

Balance sheet

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Total current assets	1.50B	2.20B	2.26B	1.82B	2.05B	2.17B	2.28B	2.83B
Cash & ST investments	913.00M	1.53B	1.56B	1.09B	1.18B	1.14B	1.33B	1.16B
Inventory	75.00M	84.00M	96.00M	96.00M	133.00M	166.00M	142.00M	205.00M
Total assets	20.14B	22.36B	22.78B	23.25B	22.75B	23.39B	24.63B	25.62B
Total current liabilities	1.41B	1.70B	1.60B	1.88B	2.12B	2.14B	2.36B	2.89B
Short-term debt	91.00M	227.00M	248.00M	236.00M	264.00M	248.00M	415.00M	268.00M
Long-term debt	11.82B	11.76B	12.40B	12.92B	12.84B	12.85B	13.46B	13.25B
Total liabilities	16,523,000,000.00	18,101,000,000.00	19,056,000,000.00	19,393,000,000.00	18,478,000,000.00	18,661,000,000.00	19,789,000,000.00	20,456,000,000.00
Total equity	3.62B	4.26B	3.72B	3.85B	4.27B	4.73B	4.84B	5.16B
Retained earnings	674.00M	775.00M	622.00M	791.00M	1.12B	1.60B	1.86B	1.80B

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Total current assets	2.53B	2.79B	3.02B	2.83B	2.15B	2.34B
Cash & ST investments	899.00M	1.03B	1.21B	1.16B	1.01B	1.06B
Inventory	159.00M	167.00M	216.00M	205.00M	203.00M	224.00M
Total assets	24.88B	25.69B	25.67B	25.62B	24.88B	25.02B
Total current liabilities	2.63B	2.75B	2.85B	2.89B	2.18B	2.31B
Short-term debt	413.00M	422.00M	316.00M	268.00M	286.00M	294.00M
Long-term debt	13.44B	13.43B	13.42B	13.25B	13.23B	13.21B
Total liabilities	20,057,000,000.00	20,598,000,000.00	20,504,000,000.00	20,456,000,000.00	19,589,000,000.00	19,627,000,000.00
Total equity	4.82B	5.09B	5.17B	5.16B	5.29B	5.40B
Retained earnings	1.81B	1.79B	1.90B	1.80B	1.90B	2.18B

Cash flow

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Operating cash flow	1.17B	1.48B	921.00M	1.73B	1.49B	1.32B	1.50B	1.71B
Depreciation & amortization	180.00M	185.00M	189.00M	201.00M	190.00M	191.00M	264.00M	301.00M
Free cash flow	1.08B	1.41B	804.00M	1.62B	1.39B	1.20B	1.30B	1.45B
Dividends paid	-728.00M	-901.00M	-959.00M	-974.00M	-971.00M	-990.00M	-1.03B	-1.11B
Stock buybacks / issuance	--	0	0	-551.00M	-296.00M	-500.00M	0	0
Ending cash balance	913.00M	1.53B	1.56B	1.09B	1.18B	1.14B	1.33B	1.16B

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Operating cash flow	118.00M	449.00M	592.00M	555.00M	227.00M	530.00M
Depreciation & amortization	71.00M	77.00M	77.00M	76.00M	78.00M	77.00M
Free cash flow	54.00M	411.00M	531.00M	453.00M	169.00M	479.00M
Dividends paid	-262.00M	-282.00M	-282.00M	-282.00M	-283.00M	-296.00M
Stock buybacks / issuance	0	0	--	--	-32.00M	-138.00M
Ending cash balance	899.00M	1.03B	1.21B	1.16B	1.01B	1.06B

Returns & efficiency

Line item	2018	2019	2020	2021	2022	2023	2024	2025
ROE %	31.90	31.36	20.87	38.06	42.57	44.36	34.17	23.01
ROA %	2.96	3.03	2.15	3.64	4.38	5.16	4.25	3.09
ROIC %	7.22	6.88	5.76	7.71	8.17	9.31	8.02	5.86
5-year avg ROE %	13.90	24.87	27.75	30.81	32.95	35.44	36.01	36.43
EBIT margin %	35.52	35.25	26.31	32.13	28.85	29.17	28.55	23.38
FCF / sales %	20.14	25.24	16.18	28.23	21.37	17.13	15.49	15.36
Current ratio	1.07	1.29	1.41	0.97	0.97	1.01	0.97	0.98
Quick ratio	0.97	1.21	1.31	0.87	0.85	0.88	0.86	0.68
Debt / assets	61.23	60.22	62.01	62.89	63.71	62.05	64.78	61.31
LT debt / equity	759.84	531.69	640.29	643.00	569.31	497.80	499.71	424.77
Interest coverage	3.65	3.78	2.66	3.83	3.67	3.44	4.06	4.23
Revenue CAGR (3Y) %	9.75	10.56	2.78	2.32	5.10	12.23	13.57	13.19
Net income CAGR (3Y) %	17.72	1.44	-9.14	11.04	16.17	34.78	6.81	-8.35
FCF CAGR (3Y) %	-0.32	5.16	-15.95	14.51	-0.57	14.38	-7.03	1.40

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
ROE %	31.22	26.91	27.87	23.01	27.85	35.52
ROA %	3.96	3.40	3.63	3.09	3.84	5.02
ROIC %	7.48	6.53	6.77	5.86	6.88	8.69
5-year avg ROE %	--	--	--	--	--	--
EBIT margin %	26.07	23.46	24.01	23.38	24.77	26.89
FCF / sales %	14.06	14.87	15.11	15.36	16.31	16.83
Current ratio	0.96	1.01	1.06	0.98	0.99	1.01
Quick ratio	0.60	0.66	0.69	0.68	0.82	0.81
Debt / assets	64.09	62.27	61.82	61.31	63.13	62.63
LT debt / equity	498.49	469.52	459.98	424.77	411.97	399.43
Interest coverage	4.01	3.88	4.16	4.23	4.63	5.16
Revenue CAGR (3Y) %	--	--	--	--	--	--
Net income CAGR (3Y) %	--	--	--	--	--	--
FCF CAGR (3Y) %	--	--	--	--	--	--

✦ Quant Revenue Concentration how this is computed

Lead segment, long tail

Tim Hortons (TH) is the largest reported line at 45.12% of revenue, across 7 reported segments.
Restaurant Holdings (RH) follows at 20.08%, so the top line still matters most but isn’t the whole story.

Revenue breakdown most recent period

Business

Tim Hortons (TH)45.12%

Restaurant Holdings (RH)20.08%

Burger King (BK)15.75%

International (INTL)10.87%

Popeyes Louisiana Kitchen (PLK)7.90%

Firehouse Subs (FHS)2.46%

Quote time 2026-10-08 04:00:05 · For reference only, not investment advice and not tailored to your situation.