Restaurant Brands (QSR) Revenue & Revenue Breakdown

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Restaurant Brands Revenue Highlights

Latest Revenue (Y)

$9.43B

Latest Revenue (Q)

$2.45B

Main Segment (Y)

Tim Hortons

Main Geography (Y)

UNITED STATES

Restaurant Brands Revenue by Period

Restaurant Brands Revenue by Year

Date	Revenue	Change
2025-12-31	$9.43B	12.23%
2024-12-31	$8.41B	19.71%
2023-12-31	$7.02B	7.95%
2022-12-31	$6.50B	13.35%
2021-12-31	$5.74B	15.52%
2020-12-31	$4.97B	-11.33%
2019-12-31	$5.60B	4.59%
2018-12-31	$5.36B	17.07%
2017-12-31	$4.58B	10.37%
2016-12-31	$4.15B	2.31%
2015-12-31	$4.05B	238.02%
2014-12-31	$1.20B	4.58%
2013-12-31	$1.15B	-41.84%
2012-12-31	$1.97B	-

Restaurant Brands generated $9.43B in revenue during NA 2025, up 12.23% compared to the previous quarter, and up 189.90% compared to the same period a year ago.

Restaurant Brands Revenue by Quarter

Date	Revenue	Change
2025-09-30	$2.45B	1.62%
2025-06-30	$2.41B	14.27%
2025-03-31	$2.11B	-8.14%
2024-12-31	$2.30B	0.22%
2024-09-30	$2.29B	10.14%
2024-06-30	$2.08B	19.61%
2024-03-31	$1.74B	-4.45%
2023-12-31	$1.82B	-0.93%
2023-09-30	$1.84B	3.49%
2023-06-30	$1.77B	11.64%
2023-03-31	$1.59B	-5.86%
2022-12-31	$1.69B	-2.14%
2022-09-30	$1.73B	5.31%
2022-06-30	$1.64B	12.96%
2022-03-31	$1.45B	-6.14%
2021-12-31	$1.55B	3.41%
2021-09-30	$1.50B	3.96%
2021-06-30	$1.44B	14.13%
2021-03-31	$1.26B	-7.22%
2020-12-31	$1.36B	1.57%
2020-09-30	$1.34B	27.58%
2020-06-30	$1.05B	-14.45%
2020-03-31	$1.23B	-17.17%
2019-12-31	$1.48B	1.44%
2019-09-30	$1.46B	4.14%
2019-06-30	$1.40B	10.58%
2019-03-31	$1.27B	-8.56%
2018-12-31	$1.38B	0.69%
2018-09-30	$1.38B	2.38%
2018-06-30	$1.34B	7.11%
2018-03-31	$1.25B	1.59%
2017-12-31	$1.23B	2.12%
2017-09-30	$1.21B	6.70%
2017-06-30	$1.13B	13.20%
2017-03-31	$1.00B	-9.97%
2016-12-31	$1.11B	3.32%
2016-09-30	$1.08B	3.41%
2016-06-30	$1.04B	13.25%
2016-03-31	$918.50M	-13.10%
2015-12-31	$1.06B	3.66%
2015-09-30	$1.02B	-2.08%
2015-06-30	$1.04B	11.74%
2015-03-31	$932.00M	123.88%
2014-12-31	$416.30M	49.26%
2014-09-30	$278.90M	6.78%
2014-06-30	$261.20M	8.43%
2014-03-31	$240.90M	-

Restaurant Brands generated $2.45B in revenue during Q3 2025, up 1.62% compared to the previous quarter, and up 117.74% compared to the same period a year ago.

Restaurant Brands Revenue Breakdown

Restaurant Brands Revenue Breakdown by Product

Annual Revenue by Product

Product/Service	Dec 25	Dec 24	Dec 23	Dec 22	Dec 21
Tim Hortons	$4.25B	$4.04B	-	-	-
Firehouse Subs	$232.00M	$214.00M	-	-	-
Burger King	$1.51B	$1.45B	-	-	-
Popeyes Louisiana Kitchen	$800.00M	$768.00M	-	-	-
Royalty	-	$1.94B	$402.00M	$353.00M	$1.56B
Advertising	-	$1.12B	$1.17B	$1.02B	$909.00M
International Segment	-	$935.00M	-	-	-
Sales Revenue	-	$17.00M	$19.00M	$18.00M	-
Franchisor	-	$142.00M	$21.00M	$18.00M	$98.00M
Royalty, Property Revenue, and Franchisor	-	-	-	$2.66B	-
Product	-	-	-	$2.82B	$2.38B

Restaurant Brands's latest annual revenue breakdown by segment (product or service), as of Dec 25: Tim Hortons (62.52%), Burger King (22.29%), Popeyes Louisiana Kitchen (11.78%), and Firehouse Subs (3.42%).

Quarterly Revenue by Product

Product/Service	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20
Burger King	$383.00M	$387.00M	$388.00M	$356.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Popeyes Louisiana Kitchen	$195.00M	$201.00M	$210.00M	$194.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tim Hortons	$1.14B	$1.13B	$1.08B	$903.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Firehouse Subs	$59.00M	$60.00M	$59.00M	$54.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
International Segment	-	-	-	$218.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales Channel, Directly to Consumer	-	-	-	$558.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property Revenue	-	-	-	$185.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advertising	-	-	-	$432.00M	$599.00M	$290.00M	$298.00M	$313.00M	$313.00M	$289.00M	$254.00M	$274.00M	$269.00M	$255.00M	$227.00M	$235.00M	$235.00M	$234.00M	$205.00M	-
Franchisor	-	-	-	$33.00M	$77.00M	$32.00M	$33.00M	-	$29.00M	$25.00M	$24.00M	$37.00M	$21.00M	$24.00M	-	-	-	-	-	-
Royalty	-	-	-	$445.00M	$976.00M	$491.00M	$473.00M	-	$503.00M	$445.00M	$403.00M	$412.00M	$412.00M	$391.00M	$346.00M	$585.00M	-	-	-	-
Sales Revenue	-	-	-	$4.00M	$9.00M	$4.00M	$4.00M	$15.00M	$4.00M	$6.00M	-	-	-	-	-	-	-	-	-	-
Sales Channel, Through Intermediary	-	-	-	$611.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Product	-	-	-	-	-	-	-	-	-	$744.00M	$668.00M	$743.00M	$759.00M	$708.00M	$609.00M	$660.00M	$621.00M	$590.00M	$507.00M	$563.00M
Royalty, Property Revenue, and Franchisor	-	-	-	-	-	-	-	-	-	$742.00M	$668.00M	$672.00M	$698.00M	$676.00M	-	-	-	-	-	-

Restaurant Brands's latest quarterly revenue breakdown by segment (product or service), as of Dec 25: Tim Hortons (64.07%), Burger King (21.60%), Popeyes Louisiana Kitchen (11.00%), and Firehouse Subs (3.33%).

Restaurant Brands Revenue Breakdown by Country

Annual Revenue by Country

Country	Dec 25	Dec 24	Dec 23	Dec 22	Dec 21
Others	$1.03B	$939.00M	$874.00M	$774.00M	$699.00M
UNITED STATES	$4.56B	$3.78B	$2.52B	$2.27B	$2.00B
CANADA	$3.85B	$3.68B	$3.63B	$3.46B	$3.04B

Restaurant Brands's latest annual revenue breakdown by geography, as of Dec 25: UNITED STATES (48.30%), CANADA (40.77%), and Others (10.93%).

Quarterly Revenue by Country

Country	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20
Others	$284.00M	$273.00M	$253.00M	$221.00M	$473.00M	$244.00M	$222.00M	$204.00M	$236.00M	$226.00M	$208.00M	$202.00M	$199.00M	$190.00M	$183.00M	$199.00M	$187.00M	$169.00M	$144.00M	$152.00M
UNITED STATES	$1.17B	$1.15B	$1.17B	$1.07B	$2.03B	$1.09B	$661.00M	$669.00M	$645.00M	$631.00M	$573.00M	$594.00M	$587.00M	$571.00M	$521.00M	$512.00M	$500.00M	$515.00M	$478.00M	$497.00M
CANADA	$1.01B	$1.03B	$992.00M	$815.00M	$1.87B	$955.00M	$856.00M	$947.00M	$956.00M	$918.00M	$809.00M	$893.00M	$940.00M	$878.00M	$747.00M	$835.00M	$808.00M	$754.00M	$638.00M	$709.00M
Franchisor	-	-	-	$33.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Royalty	-	-	-	$445.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property Revenue	-	-	-	$185.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales Channel, Directly to Consumer	-	-	-	$558.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales Channel, Through Intermediary	-	-	-	$611.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advertising	-	-	-	$277.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Restaurant Brands's latest quarterly revenue breakdown by geography, as of Dec 25: UNITED STATES (47.49%), CANADA (41.00%), and Others (11.52%).

Restaurant Brands Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
DPZ	Domino's Pizza	$4.94T	$1.15B
LI	Li Auto	$123.85B	$25.63B
SW	Smurfit Westrock	$28.27B	$8.00B
DRI	Darden Restaurants	$12.08B	$3.10B
YUMC	Yum China	$11.80B	$3.21B
ULTA	Ulta Beauty	$11.30B	$2.86B
NVR	NVR	$10.32B	$2.51B
QSR	Restaurant Brands	$9.43B	$2.45B
WSM	Williams-Sonoma	$7.71B	$1.88B
RL	Ralph Lauren	$6.63B	$2.41B
IHG	InterContinental Hotels Group	$4.62B	$2.38B

QSR Revenue FAQ

What is Restaurant Brands’s yearly revenue?

Restaurant Brands's yearly revenue for 2025 was $9.43B, representing an increase of 12.23% compared to 2024. The company's yearly revenue for 2024 was $8.41B, representing an increase of 19.71% compared to 2023. QSR's yearly revenue for 2023 was $7.02B, representing an increase of 7.95% compared to 2022.

What is Restaurant Brands’s quarterly revenue?

Restaurant Brands's quarterly revenue for Q3 2025 was $2.45B, a 1.62% increase from the previous quarter (Q2 2025), and a 6.90% increase year-over-year (Q3 2024). The company's quarterly revenue for Q2 2025 was $2.41B, a 14.27% increase from the previous quarter (Q1 2025), and a 15.87% increase year-over-year (Q2 2024). QSR's quarterly revenue for Q1 2025 was $2.11B, a -8.14% decrease from the previous quarter (Q4 2024), and a 21.28% increase year-over-year (Q1 2024).

What is Restaurant Brands’s revenue growth rate?

Restaurant Brands's revenue growth rate for the last 3 years (2023-2025) was 34.35%, and for the last 5 years (2021-2025) was 64.38%.

What are Restaurant Brands’s revenue streams?

Restaurant Brands's revenue streams in c 25 are Tim Hortons, Firehouse Subs, Burger King, and Popeyes Louisiana Kitchen. Tim Hortons generated $4.25B in revenue, accounting 62.52% of the company's total revenue, up 5.12% year-over-year. Firehouse Subs generated $232M in revenue, accounting 3.42% of the company's total revenue, up 8.41% year-over-year. Burger King generated $1.51B in revenue, accounting 22.29% of the company's total revenue, up 4.41% year-over-year. Popeyes Louisiana Kitchen generated $800M in revenue, accounting 11.78% of the company's total revenue, up 4.17% year-over-year.

What is Restaurant Brands’s main source of revenue?

For the fiscal year ending Dec 25, the largest source of revenue of Restaurant Brands was Tim Hortons. This segment made a revenue of $4.25B, representing 62.52% of the company's total revenue.