Restaurant Brands International Inc.
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
QSR$77.52-0.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(In millions of U.S. dollars, except per share data)
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Revenues: | |||
| Supply chain sales | $2,909 | $2,708 | $2,679 |
| Company restaurant sales | 2,348 | 1,592 | 271 |
| Franchise and property revenues | 2,960 | 2,919 | 2,903 |
| Advertising revenues and other services | 1,217 | 1,187 | 1,169 |
| Total revenues | 9,434 | 8,406 | 7,022 |
| Operating costs and expenses: | |||
| Supply chain cost of sales | 2,363 | 2,180 | 2,193 |
| Company restaurant expenses | 1,968 | 1,328 | 242 |
| Franchise and property expenses | 552 | 544 | 512 |
| Advertising expenses and other services | 1,358 | 1,330 | 1,273 |
| General and administrative expenses | 741 | 733 | 704 |
| (Income) loss from equity method investments | (11) | (69) | (8) |
| Other operating expenses (income), net | 261 | (59) | 55 |
| Total operating costs and expenses | 7,232 | 5,987 | 4,971 |
| Income from operations | 2,202 | 2,419 | 2,051 |
| Interest expense, net | 516 | 577 | 582 |
| Loss on early extinguishment of debt | 2 | 33 | 16 |
| Income from continuing operations before income taxes | 1,684 | 1,809 | 1,453 |
| Income tax expense (benefit) from continuing operations | 483 | 364 | (265) |
| Net income from continuing operations | 1,201 | 1,445 | 1,718 |
| Net loss from discontinued operations (net of tax of $0) | 126 | — | — |
| Net income | 1,075 | 1,445 | 1,718 |
| Net income attributable to noncontrolling interests (Note 14) | 299 | 424 | 528 |
| Net income attributable to common shareholders | $776 | $1,021 | $1,190 |
| Earnings per common share (Note 3): | |||
| Basic net income per share from continuing operations | $2.64 | $3.21 | $3.82 |
| Basic net loss per share from discontinued operations | $(0.28) | $— | $— |
| Basic net income per share | $2.36 | $3.21 | $3.82 |
| Diluted net income per share from continuing operations | $2.63 | $3.18 | $3.76 |
| Diluted net loss per share from discontinued operations | $(0.28) | $— | $— |
| Diluted net income per share | $2.35 | $3.18 | $3.76 |
| Weighted average shares outstanding (in millions): | |||
| Basic | 329 | 319 | 312 |
| Diluted | 457 | 454 | 456 |
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