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Q4 25 EPS
$0.96
BEAT +1.31%
Est. $0.95
Q4 25 Revenue
$2.47B
BEAT +2.24%
Est. $2.41B
vs S&P Since Q4 25
-2.4%
TRAILING MARKET
QSR +7.0% vs S&P +9.3%
Full Year 2025 Results
FY 25 EPS
$3.69
BEAT +0.28%
Est. $3.68
FY 25 Revenue
$9.43B
BEAT +0.66%
Est. $9.37B
Market Reaction
Did QSR Beat Earnings? Q4 2025 Results
Restaurant Brands International closed out Q4 2025 on a confident note, posting adjusted diluted EPS of $0.96 against a consensus estimate of $0.95, a beat of 1.05%, while revenue of $2.47 billion topped the $2.40 billion estimate by 2.58% and climbe… Read more Restaurant Brands International closed out Q4 2025 on a confident note, posting adjusted diluted EPS of $0.96 against a consensus estimate of $0.95, a beat of 1.05%, while revenue of $2.47 billion topped the $2.40 billion estimate by 2.58% and climbed 7.4% year over year. The most material engine behind those results was the International segment, where adjusted operating income surged 30.5% to $191.00 million on constant-currency system-wide sales growth of 11.9%, underscoring the company's broadening global footprint. Tim Hortons' contributions also steadied the portfolio, with Canadian comparable sales up 2.8%, even as Popeyes remained a drag, its comparable sales falling 4.8% in the quarter. On a consolidated basis, Q4 Adjusted Operating Income rose 16.5% to $674.00 million, capping what the company described as its third consecutive year of approximately 8% organic AOI growth. Looking ahead, RBI reaffirmed long-term targets of 3%-plus comparable sales and 8%-plus organic AOI growth through 2028, and plans to return $1.6 billion of capital to shareholders in 2026, signaling continued confidence in its multi-brand franchise model.
Key Takeaways
- • Consolidated comparable sales up 3.1% in Q4 led by INTL at 6.1%, TH Canada at 2.8%, and BK US at 2.6%
- • System-wide sales grew 5.8% in Q4 on constant currency basis
- • INTL segment AOI grew 30.5% in Q4 driven by revenue growth and lower bad debt expenses
- • BK segment AOI surged 55.4% in Q4 largely from non-recurrence of Fuel the Flame expenses
- • Higher supply chain sales driven by increases in commodity prices, CPG net sales, and equipment sales
- • Lower Segment G&A due to reduced compensation-related expenses
- • Net leverage improved to 4.2x from 4.6x year-over-year
QSR YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
QSR Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our performance in 2025 reflects the progress we've made strengthening our brands and our system, driven by consistent execution from our teams and franchisees. By staying focused on the fundamentals, we delivered our third consecutive year of roughly 8% organic Adjusted Operating Income growth. As we enter 2026, I'm encouraged by the stronger, more focused foundation we've built for the long term.”
— Josh Kobza, Q4 2025 Earnings Press Release
QSR Earnings Trends
QSR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
QSR EPS Trend
Earnings per share: estimate vs actual
QSR Revenue Trend
Quarterly revenue: estimate vs actual
QSR Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.83 | $0.86 | +3.97% | $2.26B | +0.96% |
| Q4 25 BEAT FY | $0.95 | $0.96 | +1.31% | $2.47B | +2.24% |
| FY Full Year | $3.68 | $3.69 | +0.28% | $9.43B | +0.66% |
| Q3 25 BEAT | $1.00 | $1.03 | +2.90% | $2.45B | +2.45% |
| Q2 25 MISS | $0.97 | $0.94 | -2.84% | $2.41B | +3.08% |
| Q1 25 MISS | $0.78 | $0.75 | -4.09% | $2.11B | -1.94% |