Restaurant Brands International Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Restaurant Brands International Inc. reported revenue of $9.4B (+12.2% year on year) and net income of $1.2B.
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total revenues | $9.4B | $8.4B | $7.0B | $6.5B |
| Cost of goods and services sold | $4.3B | $3.5B | $2.4B | $2.3B |
| Franchise and property expenses | $552.0M | $544.0M | $512.0M | $518.0M |
| Advertising expenses and other services | $1.4B | $1.3B | $1.3B | $1.1B |
| General and administrative expenses | $741.0M | $733.0M | $704.0M | $631.0M |
| (Income) loss from equity method investments | ($11.0M) | ($69.0M) | ($8.0M) | $44.0M |
| Other operating expenses (income), net | $261.0M | ($59.0M) | $55.0M | $25.0M |
| Total operating costs and expenses | $7.2B | $6.0B | $5.0B | $4.6B |
| Income from operations | $2.2B | $2.4B | $2.1B | $1.9B |
| Interest expense, net | $516.0M | $577.0M | $582.0M | $533.0M |
| Loss on early extinguishment of debt | $2.0M | $33.0M | $16.0M | $0 |
| Income from continuing operations before income taxes | $1.7B | $1.8B | $1.5B | $1.4B |
| Income tax expense (benefit) from continuing operations | $483.0M | $364.0M | ($265.0M) | ($117.0M) |
| Net income from continuing operations | $1.2B | — | — | — |
| Net loss from discontinued operations (net of tax of $0) | $126.0M | — | — | — |
| Net income | $1.1B | $1.4B | $1.7B | $1.5B |
| Net income attributable to noncontrolling interests (Note 14) | $299.0M | $424.0M | $528.0M | $474.0M |
| Net income attributable to common shareholders | $776.0M | $1.0B | $1.2B | $1.0B |
| Basic net income per share from continuing operations (in dollars per share) | $2.64 | — | — | — |
| Basic net loss per share from discontinued operations (in dollars per share) | -$0.28 | — | — | — |
| Basic net income per share (in dollars per share) | $2.36 | $3.21 | $3.82 | $3.28 |
| Diluted net income per share from continuing operations (in dollars per share) | $2.63 | — | — | — |
| Diluted net loss per share from discontinued operations (in dollars per share) | -$0.28 | — | — | — |
| Diluted net income per share (in dollars per share) | $2.35 | $3.18 | $3.76 | $3.25 |
| Basic (in shares) | 329.0M | 319.0M | 312.0M | 307.0M |
| Diluted (in shares) | 457.0M | 454.0M | 456.0M | 455.0M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Total revenues | $2.5B | $2.3B | $2.4B | $2.4B |
| Supply chain cost of sales and Company restaurant expenses | $1.1B | $1.0B | $1.1B | $1.1B |
| Franchise and property expenses | $139.0M | $119.0M | $147.0M | $144.0M |
| Advertising expenses and other services | $369.0M | $341.0M | $342.0M | $364.0M |
| General and administrative expenses | $181.0M | $180.0M | $170.0M | $188.0M |
| (Income) loss from equity method investments | ($2.0M) | ($2.0M) | ($2.0M) | ($5.0M) |
| Other operating expenses (income), net | ($26.0M) | ($21.0M) | $12.0M | $149.0M |
| Total operating costs and expenses | $1.8B | $1.7B | $1.8B | $1.9B |
| Income from operations | $716.0M | $606.0M | $663.0M | $483.0M |
| Interest expense, net | $124.0M | $123.0M | $129.0M | $132.0M |
| Income from continuing operations before income taxes | $592.0M | $483.0M | $534.0M | $351.0M |
| Income tax (benefit) expense from continuing operations | ($73.0M) | $38.0M | $94.0M | $87.0M |
| Net income from continuing operations | $665.0M | $445.0M | $440.0M | $264.0M |
| Net loss from discontinued operations (net of tax of $0) | $0 | $0 | $4.0M | $1.0M |
| Net income | $665.0M | $445.0M | $436.0M | $263.0M |
| Net income attributable to noncontrolling interests (Note 11) | $158.0M | $107.0M | $121.0M | $74.0M |
| Net income attributable to common shareholders | $507.0M | $338.0M | $315.0M | $189.0M |
| Basic net income per share from continuing operations (in usd per share) | $1.46 | $0.98 | $0.97 | $0.58 |
| Basic net loss per share from discontinued operations (in usd per share) | $0.00 | $0.00 | -$0.01 | $0.00 |
| Basic net income per share (in usd per share) | $1.46 | $0.98 | $0.96 | $0.58 |
| Diluted net income per share from continuing operations (in usd per share) | $1.45 | $0.97 | $0.96 | $0.58 |
| Diluted net loss per share from discontinued operations (in usd per share) | $0.00 | $0.00 | -$0.01 | $0.00 |
| Diluted net income per share (in usd per share) | $1.45 | $0.97 | $0.96 | $0.57 |
| Basic (in shares) | 348.0M | 347.0M | 328.0M | 328.0M |
| Diluted (in shares) | 460.0M | 459.0M | 457.0M | 457.0M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $1.2B | $1.3B | $1.1B | $1.2B |
| Accounts and notes receivable, net of allowance of $54 and $57, respectively | $794.0M | $698.0M | $749.0M | $614.0M |
| Inventories, net | $205.0M | $142.0M | $166.0M | $133.0M |
| Prepaids and other current assets | $179.0M | $108.0M | $119.0M | $123.0M |
| Assets held for sale - discontinued operations | $489.0M | — | — | — |
| Total current assets | $2.8B | $2.3B | $2.2B | $2.0B |
| Property and equipment, net of accumulated depreciation and amortization of $1,245 and $1,087, respectively | $2.3B | $2.2B | $2.0B | $1.9B |
| Operating lease assets, net | $2.0B | $1.9B | $1.1B | $1.1B |
| Intangible assets, net | $11.2B | $10.9B | $11.1B | $11.0B |
| Goodwill | $6.3B | $6.0B | $5.8B | $5.7B |
| Other assets, net | $1.0B | $1.4B | $1.3B | $905.0M |
| Total assets | $25.6B | $24.6B | $23.4B | $22.7B |
| Accounts and drafts payable | $866.0M | $765.0M | $790.0M | $758.0M |
| Other accrued liabilities | $1.3B | $1.1B | $1.0B | $1.0B |
| Gift card liability | $249.0M | $236.0M | $248.0M | $230.0M |
| Current portion of long-term debt and finance leases | $68.0M | $222.0M | $101.0M | $127.0M |
| Liabilities held for sale - discontinued operations | $437.0M | — | — | — |
| Total current liabilities | $2.9B | $2.4B | $2.1B | $2.1B |
| Long-term debt, net of current portion | $13.3B | $13.5B | $12.9B | $12.8B |
| Finance leases, net of current portion | $261.0M | $286.0M | $312.0M | $311.0M |
| Operating lease liabilities, net of current portion | $1.9B | $1.8B | $1.1B | $1.0B |
| Other liabilities, net | $1.0B | $706.0M | $996.0M | $872.0M |
| Deferred income taxes, net | $1.1B | $1.2B | $1.3B | $1.3B |
| Total liabilities | $20.5B | $19.8B | $18.7B | $18.5B |
| Common shares, no par value; Unlimited shares authorized at December 31, 2025 and December 31, 2024; 346,323,165 shares issued and outstanding at December 31, 2025; 324,426,589 shares issued and outstanding at December 31, 2024 | 2.9B | 2.4B | 2.0B | 2.1B |
| Retained earnings | $1.8B | $1.9B | $1.6B | $1.1B |
| Accumulated other comprehensive income (loss) | ($1.0B) | ($1.1B) | ($706.0M) | ($679.0M) |
| Total Restaurant Brands International Inc. shareholders’ equity | $3.6B | $3.1B | $2.9B | $2.5B |
| Noncontrolling interests | $1.5B | $1.7B | $1.9B | $1.8B |
| Total shareholders’ equity | $5.2B | $4.8B | $4.7B | $4.3B |
| Total liabilities and shareholders’ equity | $25.6B | $24.6B | $23.4B | $22.7B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $1.1B | $1.0B | $1.2B | $1.0B |
| Accounts and notes receivable, net of allowance of $43 and $54, respectively | $800.0M | $767.0M | $761.0M | $778.0M |
| Inventories, net | $224.0M | $203.0M | $216.0M | $167.0M |
| Prepaids and other current assets | $256.0M | $172.0M | $201.0M | $195.0M |
| Assets held for sale - discontinued operations | $0 | $0 | $631.0M | $622.0M |
| Total current assets | $2.3B | $2.2B | $3.0B | $2.8B |
| Property and equipment, net of accumulated depreciation and amortization of $1,299 and $1,245, respectively | $2.2B | $2.3B | — | — |
| Operating lease assets, net | $2.0B | $2.0B | $1.9B | $1.9B |
| Intangible assets, net | $10.9B | $11.1B | $11.1B | $11.3B |
| Goodwill | $6.2B | $6.3B | $6.2B | $6.3B |
| Other assets, net | $1.4B | $1.2B | $1.1B | $1.2B |
| Total assets | $25.0B | $24.9B | $25.7B | $25.7B |
| Accounts and drafts payable | $884.0M | $813.0M | $826.0M | $763.0M |
| Other accrued liabilities | $1.2B | $1.1B | $1.3B | $1.1B |
| Gift card liability | $183.0M | $191.0M | $170.0M | $189.0M |
| Current portion of long-term debt and finance leases | $82.0M | $75.0M | $116.0M | $221.0M |
| Liabilities held for sale - discontinued operations | $0 | $0 | $458.0M | $446.0M |
| Total current liabilities | $2.3B | $2.2B | $2.8B | $2.8B |
| Long-term debt, net of current portion | $13.2B | $13.2B | $13.4B | $13.4B |
| Finance leases, net of current portion | $243.0M | $253.0M | $269.0M | $282.0M |
| Operating lease liabilities, net of current portion | $1.9B | $1.9B | $1.8B | $1.8B |
| Other liabilities, net | $900.0M | $931.0M | $977.0M | $1.1B |
| Deferred income taxes, net | $1.1B | $1.1B | $1.2B | $1.2B |
| Total liabilities | $19.6B | $19.6B | $20.5B | $20.6B |
| Common shares, no par value; Unlimited shares authorized at June 30, 2026 and December 31, 2025; 349,205,651 shares issued and outstanding at June 30, 2026; 346,323,165 shares issued and outstanding at December 31, 2025 | 2.9B | 2.9B | 2.5B | 2.5B |
| Retained earnings | $2.2B | $1.9B | $1.9B | $1.8B |
| Accumulated other comprehensive income (loss) | ($1.2B) | ($1.1B) | ($1.0B) | ($946.0M) |
| Total Restaurant Brands International Inc. shareholders’ equity | $3.9B | $3.7B | $3.4B | $3.3B |
| Noncontrolling interests | $1.5B | $1.5B | $1.8B | $1.8B |
| Total shareholders’ equity | $5.4B | $5.3B | $5.2B | $5.1B |
| Total liabilities and shareholders’ equity | $25.0B | $24.9B | $25.7B | $25.7B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $1.1B | $1.4B | $1.7B | $1.5B |
| Net loss from discontinued operations | $126.0M | — | — | — |
| Net income from continuing operations | $1.2B | — | — | — |
| Depreciation and amortization | $301.0M | $264.0M | $191.0M | $190.0M |
| Non-cash loss on early extinguishment of debt | $2.0M | $23.0M | — | — |
| Amortization of deferred financing costs and debt issuance discount | $25.0M | $25.0M | $27.0M | $28.0M |
| (Income) loss from equity method investments | ($11.0M) | ($69.0M) | ($8.0M) | $44.0M |
| Loss (gain) on remeasurement of foreign denominated transactions | $209.0M | ($71.0M) | $20.0M | ($4.0M) |
| Net (gains) losses on derivatives | ($198.0M) | ($191.0M) | ($151.0M) | ($9.0M) |
| Share-based compensation and non-cash incentive compensation expense | $151.0M | $172.0M | $194.0M | $136.0M |
| Deferred income taxes | $97.0M | ($5.0M) | ($430.0M) | ($60.0M) |
| Other non-cash adjustments, net | $49.0M | $19.0M | $26.0M | $19.0M |
| Accounts and notes receivable | ($89.0M) | $7.0M | ($147.0M) | ($110.0M) |
| Inventories and prepaids and other current assets | ($67.0M) | $30.0M | ($43.0M) | ($61.0M) |
| Accounts and drafts payable | $89.0M | ($30.0M) | $22.0M | $169.0M |
| Other accrued liabilities and gift card liability | ($7.0M) | ($37.0M) | $9.0M | $37.0M |
| Tenant inducements paid to franchisees | ($44.0M) | ($38.0M) | ($32.0M) | ($26.0M) |
| Changes in other long-term assets and liabilities | $6.0M | ($41.0M) | ($78.0M) | ($345.0M) |
| Net cash provided by operating activities from continuing operations | $1.7B | $1.5B | $1.3B | $1.5B |
| Payments for additions of property and equipment | ($265.0M) | ($201.0M) | ($120.0M) | ($100.0M) |
| Net proceeds from disposal of assets, restaurant closures, and refranchisings | $38.0M | $34.0M | $37.0M | $12.0M |
| Net payments for acquisition of franchised restaurants, net of cash acquired | ($152.0M) | ($508.0M) | $0 | ($12.0M) |
| Settlement/sale of derivatives, net | $76.0M | $74.0M | $112.0M | $71.0M |
| Other investing activities, net | ($15.0M) | ($27.0M) | ($18.0M) | ($35.0M) |
| Net cash (used for) provided by investing activities from continuing operations | ($318.0M) | ($660.0M) | $11.0M | ($64.0M) |
| Proceeds from long-term debt | $0 | $2.5B | $55.0M | $2.0M |
| Repayments of long-term debt and finance leases | ($427.0M) | ($2.2B) | ($92.0M) | ($94.0M) |
| Payment of financing costs | $0 | ($41.0M) | ($44.0M) | $0 |
| Payment of common share dividends and Partnership exchangeable unit distributions | ($1.1B) | ($1.0B) | ($990.0M) | ($971.0M) |
| Repurchase of common shares | 0 | 0 | -500.0M | -326.0M |
| Proceeds from stock option exercises | $33.0M | $78.0M | $60.0M | $21.0M |
| Proceeds from derivatives | $67.0M | $109.0M | $141.0M | $34.0M |
| Other financing activities, net | ($1.0M) | ($2.0M) | ($4.0M) | ($3.0M) |
| Net cash used for financing activities from continuing operations | ($1.4B) | ($625.0M) | ($1.4B) | ($1.3B) |
| Net cash used for discontinued operations | ($81.0M) | — | — | — |
| Effect of exchange rates on cash and cash equivalents | $16.0M | ($23.0M) | $1.0M | ($28.0M) |
| (Decrease) increase in cash and cash equivalents, including cash classified as assets held for sale - discontinued operations | ($105.0M) | $195.0M | ($39.0M) | $91.0M |
| Increase in cash classified as assets held for sale - discontinued operations | ($66.0M) | — | — | — |
| Increase (decrease) in cash and cash equivalents | ($171.0M) | — | — | — |
| Cash and cash equivalents at beginning of period | $1.3B | $1.1B | $1.2B | $1.1B |
| Cash and cash equivalents at end of period | $1.2B | $1.3B | $1.1B | $1.2B |
| Interest paid | $714.0M | $785.0M | $761.0M | $487.0M |
| Income taxes paid, net | $450.0M | $293.0M | $290.0M | $275.0M |
| Accruals for additions of property and equipment | $53.0M | $51.0M | — | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $1.1B | $445.0M | $920.0M | $484.0M |
| Net loss from discontinued operations | $0 | $0 | $7.0M | $3.0M |
| Net income from continuing operations | $1.1B | $445.0M | $927.0M | $487.0M |
| Depreciation and amortization | $155.0M | $78.0M | $225.0M | $148.0M |
| Amortization of deferred financing costs and debt issuance discount | $12.0M | $6.0M | $19.0M | $13.0M |
| (Income) loss from equity method investments | ($4.0M) | ($2.0M) | ($12.0M) | ($10.0M) |
| (Gain) loss on remeasurement of foreign denominated transactions | ($50.0M) | ($30.0M) | $208.0M | $207.0M |
| Net (gains) losses on derivatives | ($82.0M) | ($41.0M) | ($151.0M) | ($102.0M) |
| Share-based compensation and non-cash incentive compensation expense | $70.0M | $35.0M | $113.0M | $81.0M |
| Deferred income taxes | ($215.0M) | ($49.0M) | ($19.0M) | $8.0M |
| Other non-cash adjustments, net | ($7.0M) | ($11.0M) | $44.0M | $31.0M |
| Accounts and notes receivable | ($24.0M) | $30.0M | ($66.0M) | ($72.0M) |
| Inventories and prepaids and other current assets | ($35.0M) | ($5.0M) | ($76.0M) | ($30.0M) |
| Accounts and drafts payable | $42.0M | ($42.0M) | $58.0M | ($6.0M) |
| Other accrued liabilities and gift card liability | ($184.0M) | ($176.0M) | ($62.0M) | ($155.0M) |
| Tenant inducements paid to franchisees | ($18.0M) | ($8.0M) | ($26.0M) | ($14.0M) |
| Changes in other long-term assets and liabilities | ($13.0M) | ($3.0M) | ($23.0M) | ($19.0M) |
| Net cash provided by operating activities from continuing operations | $757.0M | $227.0M | $1.2B | $567.0M |
| Payments for additions of property and equipment | ($109.0M) | ($58.0M) | ($163.0M) | ($102.0M) |
| Net proceeds from disposal of assets, restaurant closures, and refranchisings | $33.0M | $21.0M | $26.0M | $12.0M |
| Net payments for acquisition of franchised restaurants, net of cash acquired | $0 | $0 | ($152.0M) | ($152.0M) |
| Settlement/sale of derivatives, net | $28.0M | $16.0M | $58.0M | $40.0M |
| Other investing activities, net | ($12.0M) | ($12.0M) | $18.0M | $0 |
| Net cash used for investing activities from continuing operations | ($60.0M) | ($33.0M) | ($213.0M) | ($202.0M) |
| Repayments of long-term debt and finance leases | ($57.0M) | ($28.0M) | ($198.0M) | ($66.0M) |
| Payment of common share dividends and Partnership exchangeable unit distributions | ($579.0M) | ($283.0M) | ($826.0M) | ($544.0M) |
| Repurchase of common shares | -170.0M | -32.0M | — | — |
| Proceeds from stock option exercises | $35.0M | $28.0M | $20.0M | $20.0M |
| Proceeds from derivatives | $19.0M | $10.0M | $52.0M | $34.0M |
| Other financing activities, net | ($1.0M) | ($1.0M) | $0 | $1.0M |
| Net cash used for financing activities from continuing operations | ($753.0M) | ($306.0M) | ($952.0M) | ($555.0M) |
| Net cash used for discontinued operations | ($27.0M) | ($27.0M) | ($52.0M) | ($85.0M) |
| Effect of exchange rates on cash and cash equivalents | ($8.0M) | ($3.0M) | $15.0M | $19.0M |
| (Decrease) increase in cash and cash equivalents, including cash classified as assets held for sale - discontinued operations | ($91.0M) | ($142.0M) | ($43.0M) | ($256.0M) |
| Increase in cash classified as assets held for sale - discontinued operations | ($9.0M) | ($9.0M) | ($85.0M) | ($52.0M) |
| (Decrease) increase in cash and cash equivalents | ($100.0M) | ($151.0M) | ($128.0M) | ($308.0M) |
| Cash and cash equivalents at beginning of period | $1.2B | $1.2B | $1.3B | $1.3B |
| Cash and cash equivalents at end of period | $1.1B | $1.0B | $1.2B | $1.0B |
| Interest paid | $329.0M | $137.0M | $514.0M | $360.0M |
| Income taxes paid, net | $229.0M | $137.0M | $369.0M | $285.0M |
| Accruals for additions of property and equipment | $20.0M | $28.0M | $50.0M | $22.0M |
Restaurant Brands International Inc. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.