Restaurant Brands International Inc
TSX:QSR
Income Statement
Earnings Waterfall
Restaurant Brands International Inc
Income Statement
Restaurant Brands International Inc
| Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | Dec-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||||||||||||||||||||||||||||||||||
| Interest Expense |
283
|
355
|
428
|
492
|
480
|
471
|
465
|
467
|
471
|
468
|
483
|
509
|
539
|
568
|
569
|
563
|
550
|
543
|
552
|
555
|
596
|
546
|
528
|
501
|
484
|
461
|
443
|
437
|
428
|
430
|
443
|
478
|
542
|
612
|
683
|
734
|
766
|
787
|
801
|
812
|
804
|
790
|
773
|
754
|
740
|
|
| Revenue |
1 199
N/A
|
1 891
+58%
|
2 672
+41%
|
3 413
+28%
|
4 052
+19%
|
4 037
0%
|
4 035
0%
|
4 091
+1%
|
4 146
+1%
|
4 228
+2%
|
4 320
+2%
|
4 453
+3%
|
4 576
+3%
|
4 829
+6%
|
5 040
+4%
|
5 207
+3%
|
5 357
+3%
|
5 369
+0%
|
5 426
+1%
|
5 509
+2%
|
5 603
+2%
|
5 562
-1%
|
5 210
-6%
|
5 089
-2%
|
4 968
-2%
|
5 003
+1%
|
5 393
+8%
|
5 551
+3%
|
5 739
+3%
|
5 930
+3%
|
6 131
+3%
|
6 362
+4%
|
6 505
+2%
|
6 644
+2%
|
6 780
+2%
|
6 891
+2%
|
7 022
+2%
|
7 171
+2%
|
7 476
+4%
|
7 930
+6%
|
8 406
+6%
|
8 776
+4%
|
9 106
+4%
|
9 264
+2%
|
9 434
+2%
|
|
| Gross Profit | ||||||||||||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
(156)
|
(574)
|
(1 033)
|
(1 463)
|
(1 810)
|
(1 765)
|
(1 726)
|
(1 734)
|
(1 727)
|
(1 763)
|
(1 787)
|
(1 825)
|
(1 850)
|
(1 856)
|
(1 845)
|
(1 821)
|
(1 818)
|
(1 793)
|
(1 795)
|
(1 800)
|
(1 818)
|
(1 813)
|
(1 701)
|
(1 644)
|
(1 610)
|
(1 612)
|
(1 740)
|
(1 812)
|
(1 890)
|
(1 983)
|
(2 100)
|
(2 225)
|
(2 312)
|
(2 368)
|
(2 396)
|
(2 411)
|
(2 428)
|
(2 491)
|
(2 704)
|
(3 104)
|
(3 505)
|
(3 859)
|
(4 120)
|
(4 207)
|
(4 326)
|
|
| Gross Profit |
1 042
N/A
|
1 317
+26%
|
1 639
+24%
|
1 950
+19%
|
2 243
+15%
|
2 273
+1%
|
2 310
+2%
|
2 358
+2%
|
2 419
+3%
|
2 465
+2%
|
2 534
+3%
|
2 628
+4%
|
2 726
+4%
|
2 973
+9%
|
3 195
+7%
|
3 385
+6%
|
3 539
+5%
|
3 576
+1%
|
3 631
+2%
|
3 708
+2%
|
3 785
+2%
|
3 749
-1%
|
3 509
-6%
|
3 445
-2%
|
3 358
-3%
|
3 391
+1%
|
3 653
+8%
|
3 739
+2%
|
3 849
+3%
|
3 947
+3%
|
4 031
+2%
|
4 137
+3%
|
4 193
+1%
|
4 276
+2%
|
4 384
+3%
|
4 480
+2%
|
4 594
+3%
|
4 680
+2%
|
4 772
+2%
|
4 826
+1%
|
4 901
+2%
|
4 917
+0%
|
4 986
+1%
|
5 057
+1%
|
5 108
+1%
|
|
| Operating Income | ||||||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(410)
|
(536)
|
(649)
|
(717)
|
(822)
|
(782)
|
(767)
|
(764)
|
(740)
|
(763)
|
(783)
|
(804)
|
(854)
|
(1 049)
|
(1 244)
|
(1 445)
|
(1 592)
|
(1 633)
|
(1 675)
|
(1 709)
|
(1 763)
|
(1 777)
|
(1 762)
|
(1 745)
|
(1 768)
|
(1 781)
|
(1 824)
|
(1 873)
|
(1 943)
|
(1 995)
|
(2 057)
|
(2 138)
|
(2 194)
|
(2 259)
|
(2 334)
|
(2 381)
|
(2 469)
|
(2 506)
|
(2 553)
|
(2 582)
|
(2 574)
|
(2 608)
|
(2 635)
|
(2 653)
|
(2 610)
|
|
| Selling, General & Administrative |
(385)
|
(518)
|
(631)
|
(702)
|
(807)
|
(770)
|
(756)
|
(750)
|
(718)
|
(741)
|
(759)
|
(781)
|
(830)
|
(1 031)
|
(1 226)
|
(1 411)
|
(1 561)
|
(1 603)
|
(1 646)
|
(1 697)
|
(1 748)
|
(1 763)
|
(1 747)
|
(1 726)
|
(1 757)
|
(1 764)
|
(1 809)
|
(1 859)
|
(1 923)
|
(1 973)
|
(2 027)
|
(2 106)
|
(2 155)
|
(2 211)
|
(2 283)
|
(2 333)
|
(2 451)
|
(2 478)
|
(2 536)
|
(2 569)
|
(2 565)
|
(2 599)
|
(2 627)
|
(2 644)
|
(2 600)
|
|
| Depreciation & Amortization |
(14)
|
(8)
|
(9)
|
(13)
|
(17)
|
(18)
|
(19)
|
(20)
|
(22)
|
(23)
|
(23)
|
(23)
|
(23)
|
0
|
(17)
|
(16)
|
(20)
|
(19)
|
(18)
|
(18)
|
(19)
|
(19)
|
(19)
|
(19)
|
(19)
|
(18)
|
(20)
|
(20)
|
(20)
|
(21)
|
(22)
|
(23)
|
(25)
|
(26)
|
(28)
|
(30)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Other Operating Expenses |
(11)
|
(10)
|
(10)
|
(2)
|
2
|
5
|
7
|
6
|
(0)
|
0
|
(1)
|
(0)
|
(1)
|
(19)
|
(1)
|
(18)
|
(11)
|
(10)
|
(12)
|
7
|
4
|
5
|
4
|
0
|
8
|
1
|
5
|
6
|
0
|
(1)
|
(8)
|
(9)
|
(14)
|
(22)
|
(23)
|
(18)
|
(18)
|
(28)
|
(17)
|
(13)
|
(9)
|
(9)
|
(8)
|
(9)
|
(10)
|
|
| Operating Income |
632
N/A
|
781
+24%
|
990
+27%
|
1 233
+25%
|
1 420
+15%
|
1 491
+5%
|
1 543
+3%
|
1 594
+3%
|
1 679
+5%
|
1 702
+1%
|
1 751
+3%
|
1 824
+4%
|
1 872
+3%
|
1 924
+3%
|
1 952
+1%
|
1 941
-1%
|
1 947
+0%
|
1 944
0%
|
1 955
+1%
|
2 000
+2%
|
2 022
+1%
|
1 972
-2%
|
1 747
-11%
|
1 700
-3%
|
1 590
-6%
|
1 610
+1%
|
1 829
+14%
|
1 866
+2%
|
1 906
+2%
|
1 952
+2%
|
1 974
+1%
|
1 999
+1%
|
1 999
N/A
|
2 017
+1%
|
2 050
+2%
|
2 099
+2%
|
2 125
+1%
|
2 174
+2%
|
2 219
+2%
|
2 244
+1%
|
2 327
+4%
|
2 309
-1%
|
2 351
+2%
|
2 404
+2%
|
2 498
+4%
|
|
| Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
(575)
|
(677)
|
(791)
|
(740)
|
(564)
|
(528)
|
(470)
|
(463)
|
(427)
|
(421)
|
(478)
|
(509)
|
(577)
|
(603)
|
(536)
|
(514)
|
(480)
|
(455)
|
(509)
|
(472)
|
(501)
|
(497)
|
(506)
|
(606)
|
(647)
|
(617)
|
(592)
|
(513)
|
(433)
|
(469)
|
(439)
|
(438)
|
(573)
|
(611)
|
(659)
|
(674)
|
(601)
|
(559)
|
(477)
|
(547)
|
(440)
|
(522)
|
(709)
|
(641)
|
(719)
|
|
| Non-Reccuring Items |
(310)
|
(337)
|
(393)
|
(409)
|
(180)
|
(172)
|
(114)
|
(97)
|
(52)
|
(92)
|
(104)
|
(165)
|
(193)
|
(143)
|
(152)
|
(105)
|
(85)
|
(85)
|
(61)
|
(55)
|
(69)
|
(55)
|
(60)
|
(55)
|
(127)
|
(129)
|
(126)
|
(136)
|
(110)
|
(115)
|
(117)
|
(109)
|
(61)
|
(59)
|
(47)
|
(86)
|
(71)
|
(71)
|
(123)
|
(72)
|
(78)
|
(69)
|
(57)
|
(73)
|
(95)
|
|
| Total Other Income |
(1)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(2)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Pre-Tax Income |
(254)
N/A
|
(234)
+8%
|
(196)
+16%
|
82
N/A
|
674
+721%
|
788
+17%
|
956
+21%
|
1 032
+8%
|
1 200
+16%
|
1 189
-1%
|
1 168
-2%
|
1 150
-2%
|
1 102
-4%
|
1 178
+7%
|
1 264
+7%
|
1 322
+5%
|
1 382
+5%
|
1 404
+2%
|
1 385
-1%
|
1 472
+6%
|
1 452
-1%
|
1 420
-2%
|
1 181
-17%
|
1 039
-12%
|
816
-21%
|
864
+6%
|
1 111
+29%
|
1 217
+10%
|
1 363
+12%
|
1 368
+0%
|
1 418
+4%
|
1 452
+2%
|
1 365
-6%
|
1 347
-1%
|
1 344
0%
|
1 339
0%
|
1 453
+9%
|
1 544
+6%
|
1 619
+5%
|
1 625
+0%
|
1 809
+11%
|
1 718
-5%
|
1 585
-8%
|
1 690
+7%
|
1 684
0%
|
|
| Net Income | ||||||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
(15)
|
(45)
|
(65)
|
(136)
|
(162)
|
(159)
|
(173)
|
(193)
|
(244)
|
(235)
|
(218)
|
(192)
|
(64)
|
(28)
|
(44)
|
(98)
|
(229)
|
(283)
|
(322)
|
(308)
|
(341)
|
(331)
|
(185)
|
(171)
|
(66)
|
(67)
|
(87)
|
(87)
|
(110)
|
(116)
|
(211)
|
(44)
|
117
|
142
|
150
|
(11)
|
265
|
225
|
198
|
185
|
(364)
|
(378)
|
(380)
|
(402)
|
(483)
|
|
| Income from Continuing Operations |
(269)
|
(279)
|
(260)
|
(54)
|
512
|
630
|
783
|
839
|
956
|
954
|
950
|
958
|
1 037
|
1 150
|
1 220
|
1 223
|
1 153
|
1 120
|
1 063
|
1 164
|
1 111
|
1 089
|
996
|
868
|
750
|
797
|
1 024
|
1 130
|
1 253
|
1 252
|
1 207
|
1 408
|
1 482
|
1 489
|
1 494
|
1 328
|
1 718
|
1 769
|
1 817
|
1 810
|
1 445
|
1 340
|
1 205
|
1 288
|
1 201
|
|
| Income to Minority Interest |
431
|
441
|
425
|
359
|
(137)
|
(197)
|
(271)
|
(290)
|
(340)
|
(338)
|
(336)
|
(339)
|
(587)
|
(669)
|
(729)
|
(757)
|
(532)
|
(512)
|
(480)
|
(514)
|
(468)
|
(437)
|
(380)
|
(308)
|
(264)
|
(276)
|
(350)
|
(380)
|
(415)
|
(410)
|
(388)
|
(450)
|
(474)
|
(475)
|
(475)
|
(417)
|
(528)
|
(538)
|
(547)
|
(540)
|
(424)
|
(388)
|
(343)
|
(359)
|
(299)
|
|
| Net Income (Common) |
(399)
N/A
|
(468)
-17%
|
(532)
-14%
|
(459)
+14%
|
104
N/A
|
162
+56%
|
242
+49%
|
279
+15%
|
346
+24%
|
346
+0%
|
344
0%
|
350
+1%
|
626
+79%
|
724
+16%
|
802
+11%
|
844
+5%
|
612
-27%
|
599
-2%
|
574
-4%
|
641
+12%
|
643
+0%
|
652
+1%
|
616
-6%
|
560
-9%
|
486
-13%
|
521
+7%
|
674
+29%
|
750
+11%
|
838
+12%
|
842
+0%
|
819
-3%
|
958
+17%
|
1 008
+5%
|
1 014
+1%
|
1 019
+0%
|
911
-11%
|
1 190
+31%
|
1 231
+3%
|
1 270
+3%
|
1 270
N/A
|
1 021
-20%
|
950
-7%
|
859
-10%
|
922
+7%
|
776
-16%
|
|
| EPS (Diluted) |
-1.16
N/A
|
-2.31
-99%
|
-1.11
+52%
|
-0.96
+14%
|
0.21
N/A
|
0.34
+62%
|
0.51
+50%
|
0.59
+16%
|
0.73
+24%
|
0.72
-1%
|
0.72
N/A
|
0.73
+1%
|
1.31
+79%
|
1.52
+16%
|
1.69
+11%
|
1.77
+5%
|
1.29
-27%
|
1.28
-1%
|
1.22
-5%
|
1.36
+11%
|
1.37
+1%
|
1.39
+1%
|
1.31
-6%
|
1.19
-9%
|
1.03
-13%
|
1.12
+9%
|
1.44
+29%
|
1.61
+12%
|
1.8
+12%
|
1.83
+2%
|
1.8
-2%
|
2.11
+17%
|
2.21
+5%
|
2.22
+0%
|
2.22
N/A
|
1.98
-11%
|
2.6
+31%
|
2.71
+4%
|
2.8
+3%
|
2.79
0%
|
2.24
-20%
|
2.08
-7%
|
1.87
-10%
|
2.01
+7%
|
1.69
-16%
|
|