Restaurant Brands International Inc. (QSR) Revenue History
Annual and quarterly revenue from 2012 to present
QSR Revenue Over Time (2012–2025)
QSR Revenue Growth History
11 of 13 years with positive growth- FY2012 revenue growth
- N/A
- FY2013 revenue growth
- -41.8%
- FY2014 revenue growth
- +4.6%
- FY2015 revenue growth
- +238.0%
- FY2016 revenue growth
- +2.3%
- FY2017 revenue growth
- +10.4%
- FY2018 revenue growth
- +17.1%
- FY2019 revenue growth
- +4.6%
- FY2020 revenue growth
- -11.3%
- FY2021 revenue growth
- +15.5%
- FY2022 revenue growth
- +13.3%
- FY2023 revenue growth
- +7.9%
- FY2024 revenue growth
- +19.7%
- FY2025 revenue growth
- +12.2%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $2.26B | +7.3% |
| Q4 2025 | $2.47B | +7.4% |
| Q3 2025 | $2.45B | +6.9% |
| Q2 2025 | $2.41B | +15.9% |
| Q1 2025 | $2.11B | +21.3% |
| Q4 2024 | $2.30B | +26.2% |
| Q3 2024 | $2.29B | +24.7% |
| Q2 2024 | $2.08B | +17.2% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
QSR's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
QSR Revenue Analysis (2012–2025)
Current Revenue & Growth
As of June 21, 2026, Restaurant Brands International Inc. (QSR) generated trailing twelve-month (TTM) revenue of $9.59 billion, reflecting solid growth of +7.3% year-over-year. The most recent quarter (Q1 2026) recorded $2.26 billion in revenue, down 8.2% sequentially.
Historical Growth Trajectory
QSR's 5-year compound annual growth rate (CAGR) stands at +13.7%, indicating consistent double-digit revenue growth. The 3-year CAGR of +13.2% is in line with the 5-year average, suggesting consistent growth. Restaurant Brands International Inc.'s highest annual revenue of $9.43 billion was recorded in 2025, an all-time high.
Revenue by Segment
QSR's revenue is primarily driven by Tim Hortons (63%), Burger King (22%), and Popeyes Louisiana Kitchen (12%). With over half of revenue concentrated in Tim Hortons, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Consumer Cyclical sector peers — including MCD (+6.8% YoY), YUM (+9.7% YoY), and WEN (-1.8% YoY) — QSR has outperformed the peer group in revenue growth. Compare QSR vs MCD →
QSR Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| QSRCurrent | $9.6B | +7.3% | +13.7% | 23.7% | |
 MCD | $26.9B | +6.8% | +7.0% | 46.1% | |
 YUM | $8.2B | +9.7% | +7.8% | 30.8% | |
 WEN | $2.2B | -1.8% | +4.7% | 15.3% | |
 JACK | $1.5B | -17.2% | +7.5% | -1.2% | |
 DENN | $452M | +0.9% | -3.5% | 10.0% |
QSR Historical Revenue Data (2012–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $9.43B | +12.2% | $3.88B | 41.1% | $2.24B | 23.7% |
| 2024 | $8.41B | +19.7% | $3.02B | 36.0% | $2.42B | 28.8% |
| 2023 | $7.02B | +7.9% | $2.80B | 39.9% | $2.05B | 29.2% |
| 2022 | $6.50B | +13.3% | $2.60B | 39.9% | $1.90B | 29.2% |
| 2021 | $5.74B | +15.5% | $2.37B | 41.4% | $1.88B | 32.7% |
| 2020 | $4.97B | -11.3% | $1.97B | 39.7% | $1.42B | 28.6% |
| 2019 | $5.60B | +4.6% | $2.39B | 42.7% | $2.01B | 35.8% |
| 2018 | $5.36B | +17.1% | $3.12B | 58.2% | $1.92B | 35.8% |
| 2017 | $4.58B | +10.4% | $2.25B | 49.1% | $1.74B | 37.9% |
| 2016 | $4.15B | +2.3% | $1.97B | 47.4% | $1.67B | 40.2% |
| 2015 | $4.05B | +238.0% | $1.74B | 42.9% | $1.19B | 29.4% |
| 2014 | $1.20B | +4.6% | $863.4M | 72.0% | $181.1M | 15.1% |
| 2013 | $1.15B | -41.8% | $798.6M | 69.7% | $522.2M | 45.6% |
| 2012 | $1.97B | - | $818.6M | 41.5% | $417.7M | 21.2% |
Full Stock Analysis
Deep dive into QSR consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
14+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
QSR — Frequently Asked Questions
Quick answers to the most common questions about buying QSR stock.
Is QSR's revenue growth accelerating or slowing?
QSR revenue growth is holding steady at +7.3% year-over-year. TTM revenue is $9.6B. The current growth rate closely tracks the 5-year CAGR of +13.7%, signalling consistent execution.
What is QSR's revenue history from 2012 to 2026?
Restaurant Brands International Inc. (QSR) revenue history spans 2012 to 2026. TTM revenue as of 2026 is $9.6B, growing at +7.3% YoY. The 5-year CAGR is +13.7%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is QSR's long-term revenue growth rate (CAGR)?
Restaurant Brands International Inc.'s 5-year revenue CAGR of +13.7% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +7.3% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for QSR.
Why does QSR's quarterly revenue fluctuate?
QSR quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Restaurant Brands International Inc.'s revenue data from 2012 to 2026 shows full historical quarterly detail on this page.
How is QSR's revenue distributed by segment?
QSR reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does QSR's revenue compare to industry peers?
Restaurant Brands International Inc. (QSR) with TTM revenue of $9.6B and +7.3% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.