MARKETS / US / QSP
US · RETAIL-EATING PLACES · LARGE CAP

Restaurant Brands International Limited Partnership QSP

14 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY3 YEARS OF DIVIDEND GROWTH
Revenue · FY2025
$9.4B
▲ 12.2% vs FY2024
Dividend streak
3 yrs
Raised every year since 2023
EPS · FY25
Dividend / sh · FY25
Payout · FY25
103%
ROE · FY25
Net margin · FY25
11.4%
Dividend coverage
-0.7×
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Result
USD 9.4B
Revenue, FY2025 · full 14-year series below
Revenue Net income
2.557.5109.41.1201220152018202120242025
2.557.5109.41.12016201920222025

11 cents of every revenue dollar became profit this year.

Per share
Diluted EPS, FY2025
EPS Dividend
0.40.81.2201220152018202120242025
0.40.81.22016201920222025

The dividend was paid in a year without profit.

Profitability
Return on equity, FY2025
ROE
8162432201220152018202120242025
81624322016201920222025
Operating margin23.3%
Net margin11.4%
Return on assets4.3%

Returned to shareholders
USD 1.1B
returned in FY2025 · dividends + net buybacks
Dividends paidUSD 1.1B
Net buybacks
Share of profit103.1%
Consecutive raises3 years

USD 1.1B in dividends — 103% of the year's profit, so the payout drew on cash built up earlier.

Growth
+13.7% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+13.2%
+13.7%
+8.8%
Net income
−10.1%
+7.5%
+7.7%
Dividend / share
+122.4%
Returned to shareholders
+4.5%
+2.9%
+11.8%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
Shares outstanding, FY2025
Change, 5 years
Change, 10 years

A share split breaks the comparison across the period, so we leave it out.

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Balance sheet
USD 25.6B
total assets, end of FY2025
Total assetsUSD 25.6B
CashUSD 1.2B
Gross debtUSD 13.3B
Net debtUSD 12.1B
Current ratio0.98×

History
14 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
Revenue $B
9.4
8.4
7.0
6.5
5.7
5.0
5.6
5.4
4.6
4.1
4.1
1.2
1.1
2.0
Operating income $B
2.2
2.4
2.1
1.9
1.9
1.4
2.0
1.9
1.7
1.7
1.2
0.2
0.5
0.4
EBITDA $B
2.4
2.6
2.2
2.0
2.0
1.6
2.1
2.1
1.9
1.8
1.3
0.2
0.6
0.5
Income tax $B
0.5
0.4
−0.3
−0.1
0.1
0.1
0.3
0.2
−0.1
0.2
0.2
0.0
0.1
0.0
Net income $B
1.1
1.4
1.7
1.5
1.3
0.8
1.1
1.1
1.2
1.0
0.5
−0.3
0.2
0.1
EPS, diluted $
·
·
·
·
·
·
·
·
·
·
·
−0.20
0.65
0.33
Dividend / sh $
·
·
·
·
·
·
·
·
·
·
0.44
0.30
0.24
0.04
Payout %
103
71
58
66
78
128
81
64
54
56
71
−39
36
12
ROE %
·
·
·
·
·
·
30.7
28.9
28.7
·
·
·
·
·
Shares out B
·
·
·
·
·
·
·
·
·
·
·
·
·
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
27 of 31
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 1 failures and 3 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed