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Restaurant Brands International Limited Partnership

CIK: 1618755 SIC: 5812
$9.43B
Revenue
$1.07B
Net Income
-33.91%
Gross Margin
23.34%
Op. Margin
$1.97B
Free Cash Flow
Financial Statements Annual (10-K)
Showing 12 of 12 annual reports available (2014 - 2025)
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
FY 2015
(Dec 31, 2015)
FY 2014
(Dec 31, 2014)
+ Total Revenue $9.43B $9.43B $8.41B $7.02B $6.50B $5.74B $4.97B $5.60B $5.36B $4.58B $4.15B $4.05B $1.20B
Revenue Growth % 0.0% 12.2% 19.7% 7.9% 13.3% 15.5% -11.3% 4.6% 17.1% 10.4% 2.3% 238.4% nan%
Cost of Revenue $12.63B $12.63B $10.16B $2.44B $2.31B $1.89B $1.61B $1.81B $1.82B $1.85B $1.73B $1.81B $152.50M
+ Gross Profit $-3.20B $-3.20B $-1.75B $4.59B $4.19B $3.85B $3.36B $3.79B $3.54B $2.73B $2.42B $2.24B $1.04B
Gross Margin % -33.9% -33.9% -20.9% 65.3% 64.5% 67.1% 67.6% 67.6% 66.1% 59.6% 58.3% 55.3% 87.3%
Operating Expenses $7.23B $7.23B $5.99B $4.97B $4.61B $3.86B $3.55B $3.60B $3.44B $2.84B $2.48B $2.86B $1.01B
Selling General & Admin - - - - - - $1.26B $1.26B $1.21B $415.50M $318.60M $437.70M $345.40M
+ Operating Income $2.20B $2.20B $2.42B $2.05B $1.90B $1.88B $1.42B $2.01B $1.92B $1.74B $1.67B $1.19B $182.40M
Operating Margin % 23.3% 23.3% 28.8% 29.2% 29.2% 32.7% 28.6% 35.8% 35.8% 37.9% 40.2% 29.4% 15.2%
Interest Expense $1.23B $714.00M $785.00M $761.00M $487.00M $404.00M $463.00M $584.00M $561.00M $447.20M $407.10M $408.30M $199.90M
Interest Income - $31.00M $39.00M $40.00M - - - - - - - - -
Income Before Tax $1.68B $1.68B $1.81B $1.45B $1.36B $1.36B $816.00M $1.45B $1.38B $1.10B $1.20B $673.90M $-253.10M
Income Tax Expense $483.00M $483.00M $364.00M $-265.00M $-117.00M $110.00M $66.00M $341.00M $238.00M $-133.60M $243.90M $162.20M $23.90M
+ Net Income $1.07B $1.07B $1.45B $1.72B $1.48B $1.25B $750.00M $1.11B $1.14B $1.24B $955.90M $511.70M $-277.20M
Net Margin % 11.4% 11.4% 17.2% 24.5% 22.8% 21.8% 15.1% 19.8% 21.4% 27.0% 23.1% 12.6% -23.2%
Basic EPS nan nan nan nan nan nan nan nan nan nan nan nan -0.20
Diluted EPS nan nan nan nan nan nan nan nan nan nan nan nan -0.20
Basic Shares Outstanding - - - - - - - - - - - - 351.9M
Diluted Shares Outstanding - - - - - - - - - - - - 351.9M
Breakdown FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
FY 2015
(Dec 31, 2015)
FY 2014
(Dec 31, 2014)
Cash & Cash Equivalents - - - - - - - $913.00M $1.07B $1.42B $753.70M $1.80B
Inventory $205.00M $142.00M $166.00M $133.00M $96.00M $96.00M $84.00M $75.00M $78.00M $71.80M $81.30M -
Other Current Assets $179.00M $108.00M $119.00M $123.00M $86.00M $72.00M $52.00M $60.00M $59.00M $103.60M $50.90M -
Total Current Assets $2.83B $2.28B $2.17B $2.05B $1.82B $2.26B $2.20B $1.50B $1.75B $2.06B $1.37B $2.66B
Property Plant & Equipment $2.30B $2.24B $1.95B $1.95B $2.04B $2.03B $2.01B $2.00B $2.13B $2.05B $2.15B $2.54B
Goodwill $6.31B $5.99B $5.78B $5.69B $6.01B $5.74B $5.65B $5.49B $5.78B $4.68B $4.57B $5.85B
Intangible Assets $11.19B $10.92B $11.11B $10.99B $11.42B $10.70B $10.56B $10.46B $11.06B $9.23B $9.15B $9.44B
Other Non-current Assets $1.02B $1.35B $1.26B $905.00M $762.00M $824.00M $719.00M $642.00M $425.20M $300.70M $1.05B $531.50M
Total Assets $25.61B $24.63B $23.39B $22.75B $23.25B $22.78B $22.36B $20.14B $21.22B $19.13B $18.41B $21.16B
Accounts Payable $866.00M $765.00M $790.00M $758.00M $614.00M $464.00M $644.00M $513.00M $412.90M $369.80M $361.50M $223.00M
Accrued Liabilities $1.27B $1.14B $1.00B $1.00B $947.00M $835.00M $790.00M $637.00M $838.20M $469.30M $438.30M $318.40M
Other Current Liabilities $230.00M $124.00M - - - - - - - - - -
Total Current Liabilities $2.89B $2.36B $2.14B $2.12B $1.88B $1.60B $1.70B $1.41B $1.66B $1.21B $1.12B $1.92B
Long-term Debt $13.28B $13.64B $12.85B $12.84B $12.92B $12.40B $11.76B $11.82B $11.80B $8.41B $8.46B $8.94B
Deferred Tax Liabilities $1.12B $1.21B $1.30B $1.31B $1.37B $1.43B $1.56B $1.52B $1.51B - - -
Other Non-current Liabilities $1.03B $706.00M $996.00M $872.00M $1.82B $2.24B $1.70B $1.55B $1.46B $784.90M $795.90M $644.10M
Total Liabilities $20.46B $19.79B $18.66B $18.48B $19.39B $19.06B $18.10B $16.52B $16.66B $12.34B $12.20B $13.54B
Common Stock - - - - - - - - - - - -
Retained Earnings - - - - - - - - - - - -
Total Stockholders Equity $5.16B $4.84B $4.73B $4.27B $3.85B $3.72B $4.26B $3.62B $4.56B $3.49B $2.91B $4.32B
Total Liabilities & Equity $25.61B $24.63B $23.39B $22.75B $23.25B $22.78B $22.36B $20.14B $21.22B $19.13B $18.41B $21.16B
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
FY 2015
(Dec 31, 2015)
FY 2014
(Dec 31, 2014)
Net Income $1.07B $1.07B $1.45B $1.72B $1.48B $1.25B $750.00M $1.11B $1.14B $1.24B $955.90M $511.70M $-277.20M
Depreciation & Amortization $371.00M $301.00M $264.00M $191.00M $190.00M $201.00M $189.00M $185.00M $180.00M $181.10M $172.10M $182.00M $72.90M
Stock-based Compensation $280.00M $151.00M $172.00M $194.00M $136.00M $102.00M $74.00M $68.00M $48.00M $48.30M $35.10M $50.80M -
Deferred Income Tax - $97.00M $-5.00M $-430.00M - - - - - - - - -
Change in Payables $32.00M $89.00M $-30.00M $22.00M $169.00M $149.00M $-183.00M $112.00M $41.00M $19.90M $27.50M $191.20M $-17.90M
Operating Cash Flow $2.40B $1.71B $1.50B $1.32B $1.49B $1.73B $921.00M $1.48B $1.17B $1.42B $1.23B $1.20B -
Capital Expenditure $431.00M $265.00M $201.00M $120.00M $100.00M $106.00M $117.00M $62.00M $86.00M $36.70M $33.70M $115.30M $30.90M
Acquisitions - $152.00M $508.00M - $12.00M $1.00B - - - $1.64B - - $3.90M
Investing Cash Flow $-704.00M $-318.00M $-660.00M $11.00M $-64.00M $-1.10B $-79.00M $-30.00M $-44.00M $-857.80M $26.90M $-61.50M -
Debt Repayment - - - - - - $4.71B $2.27B $74.00M $2.74B $69.70M $2.63B $3.10B
Stock Issued - - - - - - - - - - - $2.10M -
Stock Repurchased - - - - - - - - - - - - -
Dividends Paid $1.91B $1.11B $1.03B $990.00M $971.00M $974.00M $959.00M $901.00M $728.00M $663.50M $538.10M $362.40M $105.60M
Financing Cash Flow $-2.26B $-1.44B $-625.00M $-1.37B $-1.31B $-1.09B $-821.00M $-842.00M $-1.28B $-935.20M $-590.90M $-2.12B -
Net Change in Cash $-715.00M $-105.00M $195.00M $-39.00M $91.00M $-473.00M $27.00M $620.00M $-184.00M $-339.00M $666.70M $-1.05B $1.02B
SEC Filing Format - Data shown as it appears in the Q3 2025 (10-Q) filing Period ended: Sep 30, 2025
Condensed Consolidated Statements of Operations
Description Sep 30, 2025 Sep 30, 2025
Current Prior Year Current YTD Prior Year YTD
Total Revenue $2.45B - $6.97B -
Operating Expenses $1.79B - $5.39B -
Operating Income $663.00M - $1.58B -
Interest Expense - - $514.00M -
Income Before Tax $534.00M - $1.19B -
Income Tax Expense $94.00M - $263.00M -
Net Income $436.00M $399.00M $920.00M -
Condensed Consolidated Balance Sheets
Description Sep 30, 2025 Dec 31, 2024
Inventory $216.00M $142.00M
Other Current Assets $201.00M $108.00M
Total Current Assets $3.02B $2.28B
Property Plant & Equipment $2.26B $2.24B
Goodwill $6.22B $5.99B
Intangible Assets $11.13B $10.92B
Other Non-current Assets $1.14B $1.35B
Total Assets $25.67B $24.63B
Accounts Payable $826.00M $765.00M
Accrued Liabilities $1.28B $1.14B
Total Current Liabilities $2.85B $2.36B
Long-term Debt $13.41B $13.46B
Deferred Tax Liabilities $1.15B $1.21B
Other Non-current Liabilities $977.00M $706.00M
Total Liabilities $20.50B $19.79B
Total Stockholders Equity $5.17B $4.84B
Total Liabilities & Equity $25.67B $24.63B
Condensed Consolidated Statements of Cash Flows
Description Sep 30, 2025 Sep 30, 2025
Current Prior Year Current YTD Prior Year YTD
Net Income $436.00M $399.00M $920.00M -
Depreciation & Amortization $76.00M - $225.00M -
Stock-based Compensation - - $113.00M -
Change in Payables - - $58.00M -
Operating Cash Flow - - $1.16B -
Capital Expenditure - - $163.00M -
Acquisitions - - $152.00M -
Investing Cash Flow - - $-213.00M -
Dividends Paid - - $826.00M -
Financing Cash Flow - - $-952.00M -
Net Change in Cash - - $-43.00M -

All values are in USD (United States Dollars). Data is sourced from SEC EDGAR 10-K filings.

Annual data represents full fiscal year results. FY = Fiscal Year ending.

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