Restaurant Brands (QSR) Revenue & Revenue Breakdown

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Restaurant Brands Revenue Highlights

Latest Revenue (Y)

$8.41B

Latest Revenue (Q)

$2.41B

Main Segment (Y)

Royalty

Main Geography (Y)

UNITED STATES

Restaurant Brands Revenue by Period

Restaurant Brands Revenue by Year

Date	Revenue	Change
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	17.06%
2017-12-31	$4.58B	10.38%
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 $8.41B in revenue during NA 2024, up 19.71% compared to the previous quarter, and up 150.03% compared to the same period a year ago.

Restaurant Brands Revenue by Quarter

Date	Revenue	Change
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	10.17%
2024-06-30	$2.08B	20.12%
2024-03-31	$1.73B	-7.44%
2023-12-31	$1.87B	1.81%
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	-8.59%
2018-12-31	$1.39B	0.71%
2018-09-30	$1.38B	2.37%
2018-06-30	$1.34B	7.15%
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 $2.41B in revenue during Q2 2025, up 14.27% compared to the previous quarter, and up 139.21% 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 24	Dec 23	Dec 22	Dec 21	Dec 20
Royalty	$1.94B	$402.00M	$353.00M	$1.56B	$2.16B
Sales Revenue	$17.00M	$19.00M	$18.00M	-	-
Franchisor	$142.00M	$21.00M	$18.00M	$98.00M	$76.00M
Advertising	$1.19B	$1.17B	$1.02B	$909.00M	-
Product	-	-	$2.82B	$2.38B	$2.01B
Royalty, Property Revenue, and Franchisor	-	-	$2.66B	-	-

Restaurant Brands's latest annual revenue breakdown by segment (product or service), as of Dec 24: Royalty (59.04%), Advertising (36.12%), Franchisor (4.32%), and Sales Revenue (0.52%).

Quarterly Revenue by Product

Product/Service	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	Sep 20	Jun 20
Burger King	$388.00M	$356.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Firehouse Subs	$59.00M	$54.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tim Hortons	$1.08B	$903.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Popeyes Louisiana Kitchen	$210.00M	$194.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales Channel, Through Intermediary	-	$611.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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	-	-	-
International Segment	-	$218.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales Channel, Directly to Consumer	-	$558.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales Revenue	-	$4.00M	$9.00M	$4.00M	$4.00M	$15.00M	$4.00M	$6.00M	-	-	-	-	-	-	-	-	-	-	-	-
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	$581.00M	$469.00M	-	-	-	-
Franchisor	-	$33.00M	$77.00M	$32.00M	$33.00M	-	$29.00M	$25.00M	$24.00M	$37.00M	$21.00M	$24.00M	$19.00M	$15.00M	-	-	-	-	-	-
Property Revenue	-	$185.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Product	-	-	-	-	-	-	-	$744.00M	$668.00M	$743.00M	$759.00M	$708.00M	$609.00M	$660.00M	$621.00M	$590.00M	$507.00M	$563.00M	$541.00M	$406.00M
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 Jun 25: Tim Hortons (62.24%), Burger King (22.30%), Popeyes Louisiana Kitchen (12.07%), and Firehouse Subs (3.39%).

Restaurant Brands Revenue Breakdown by Country

Annual Revenue by Country

Country	Dec 24	Dec 23	Dec 22	Dec 21	Dec 20
CANADA	$3.68B	$3.63B	$3.46B	$3.04B	$2.55B
UNITED STATES	$3.78B	$2.52B	$2.27B	$2.00B	$1.89B
Others	$939.00M	$874.00M	$774.00M	$699.00M	$533.00M

Restaurant Brands's latest annual revenue breakdown by geography, as of Dec 24: UNITED STATES (45.00%), CANADA (43.83%), and Others (11.17%).

Quarterly Revenue by Country

Country	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	Sep 20	Jun 20
Others	$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	$147.00M	$91.00M
CANADA	$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	$691.00M	$514.00M
UNITED STATES	$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	$499.00M	$443.00M
Sales Channel, Through Intermediary	-	$611.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property Revenue	-	$185.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Royalty	-	$445.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Franchisor	-	$33.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advertising	-	$277.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales Channel, Directly to Consumer	-	$558.00M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Restaurant Brands's latest quarterly revenue breakdown by geography, as of Jun 25: UNITED STATES (48.34%), CANADA (41.16%), and Others (10.50%).

Restaurant Brands Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
DRI	Darden Restaurants	$12.08B	$3.16B
QSR	Restaurant Brands	$8.41B	$2.41B
YUM	Yum! Brands	$7.55B	$1.93B
DPZ	Domino's Pizza	$4.71B	$1.15B
PZZA	Papa John's	$2.06B	$529.17M
SHAK	Shake Shack	$1.25B	$356.47M
WEN	Wendy's	$925.90M	$523.47M

QSR Revenue FAQ

What is Restaurant Brands’s yearly revenue?

Restaurant Brands's yearly revenue for 2024 was $8.41B, representing an increase of 19.71% compared to 2023. The company's yearly revenue for 2023 was $7.02B, representing an increase of 7.95% compared to 2022. QSR's yearly revenue for 2022 was $6.5B, representing an increase of 13.35% compared to 2021.

What is Restaurant Brands’s quarterly revenue?

Restaurant Brands's quarterly revenue for Q2 2025 was $2.41B, a 14.27% increase from the previous quarter (Q1 2025), and a 15.89% increase year-over-year (Q2 2024). The company's quarterly revenue for Q1 2025 was $2.11B, a -8.14% decrease from the previous quarter (Q4 2024), and a 21.82% increase year-over-year (Q1 2024). QSR's quarterly revenue for Q4 2024 was $2.3B, a 0.22% increase from the previous quarter (Q3 2024), and a 22.76% increase year-over-year (Q4 2023).

What is Restaurant Brands’s revenue growth rate?

Restaurant Brands's revenue growth rate for the last 3 years (2022-2024) was 29.22%, and for the last 5 years (2020-2024) was 69.20%.

What are Restaurant Brands’s revenue streams?

Restaurant Brands's revenue streams in c 24 are Royalty, Sales Revenue, Franchisor, and Advertising. Royalty generated $1.94B in revenue, accounting 59.04% of the company's total revenue, up 382.59% year-over-year. Sales Revenue generated $17M in revenue, accounting 0.52% of the company's total revenue, down -10.53% year-over-year. Franchisor generated $142M in revenue, accounting 4.32% of the company's total revenue, up 576.19% year-over-year. Advertising generated $1.19B in revenue, accounting 36.12% of the company's total revenue, up 1.54% year-over-year.

What is Restaurant Brands’s main source of revenue?

For the fiscal year ending Dec 24, the largest source of revenue of Restaurant Brands was Royalty. This segment made a revenue of $1.94B, representing 59.04% of the company's total revenue.