Income StatementBalance SheetCash FlowSegments
Restaurant Brands International logo

Restaurant Brands International Business Segments

Business, geographic, and product segment breakdowns

Restaurant Brands International generates $9.6B in annual revenue across 4 key segments: BK ($115.0M), FHS ($14.0M), INTL ($196.0M), and PLK ($57.0M). The company-wide operating margin is 24.75%. Based on the Q1 2026 filing.

BK$115.0MFHS$14.0MINTL$196.0MPLK$57.0MRH-$1.0MTH$229.0M
Latest FilingQ1 2026
Report Date2026-05-06
Market Cap$26.3B
P/E Ratio20.22
ROE37.88%

Products & Services

Total revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Advertising revenues and other services$295.0M$277.0M$318.0M$314.0M$308.0M$297.0M

Total

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Restaurant wages and related expenses—$145.0M$152.0M$148.0M$150.0M$146.0M
Food, beverage, and packaging costs—$121.0M$134.0M$136.0M$146.0M$133.0M
Restaurant occupancy expense and other—$113.0M$120.0M$119.0M$124.0M$122.0M

Revenue from Contract with Customer, Excluding Assessed Tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Royalties$483.0M$445.0M$500.0M$520.0M$512.0M$488.0M
Franchise fees and other revenue$36.0M$33.0M$41.0M$41.0M$36.0M$36.0M
Supply chain sales—$4.0M$4.0M$4.0M—$4.0M

Geographic

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenues$240.0M$221.0M$253.0M$273.0M$284.0M$263.0M
Total$52.0M———$77.0M—

Business Segments

Adjusted Operating Income (Loss)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
TH—$220.0M———$229.0M
INTL—$138.0M———$196.0M
BK—$103.0M———$115.0M
PLK—$60.0M———$57.0M
FHS—$11.0M———$14.0M
RH—$7.0M———-$1.0M

Advertising expenses and other services

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
BK$169.0M$132.0M$147.0M$141.0M$147.0M$141.0M
TH$72.0M$66.0M$93.0M$77.0M$76.0M$82.0M
PLK$74.0M$72.0M$80.0M$79.0M$72.0M$74.0M
RH—$21.0M$24.0M$23.0M$24.0M$23.0M
FHS$22.0M$17.0M$20.0M$19.0M$21.0M$21.0M
INTL$19.0M$23.0M$23.0M$25.0M$21.0M$21.0M

CapEx

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
RH—$16.0M$21.0M$58.0M$50.0M$16.0M
BK$26.0M$5.0M$6.0M$7.0M$14.0M$5.0M
TH$22.0M$5.0M$9.0M$15.0M$29.0M$5.0M
PLK$11.0M$2.0M$2.0M$4.0M$8.0M$3.0M
INTL$2.0M$2.0M$4.0M$3.0M$3.0M$2.0M
FHS$2.0M$1.0M$1.0M$2.0M$2.0M$1.0M

Cash distributions received from equity method investments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
TH$4.0M$3.0M$4.0M$4.0M$5.0M$3.0M
BK$0.0$0.0$0.0$0.0$0.0$0.0
FHS$0.0$0.0$0.0$0.0$0.0$0.0
INTL$0.0$0.0$0.0$0.0$0.0$0.0
PLK$0.0$0.0$0.0$0.0$0.0$0.0
RH—$0.0$0.0$0.0$0.0$0.0

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
RH—$20.0M$24.0M$24.0M$24.0M$27.0M
TH$27.0M$27.0M$28.0M$27.0M$27.0M$27.0M
BK$13.0M$13.0M$13.0M$13.0M$12.0M$12.0M
INTL$7.0M$7.0M$7.0M$8.0M$7.0M$7.0M
PLK$4.0M$3.0M$4.0M$4.0M$3.0M$4.0M
FHS$2.0M$1.0M$1.0M$1.0M$2.0M$1.0M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
TH$3.8B$3.8B$4.0B$3.9B$4.0B$3.9B
PLK$844.0M$844.0M$844.0M$844.0M$844.0M$844.0M
INTL$377.0M$492.0M$507.0M$506.0M$545.0M$542.0M
RH$491.0M$362.0M$373.0M$371.0M$370.0M$364.0M
BK$240.0M$117.0M$358.0M$358.0M$358.0M$358.0M
FHS$193.0M$193.0M$194.0M$194.0M$194.0M$194.0M

Income (Loss) from Equity Method Investments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
TH$3.0M$3.0M$4.0M$4.0M$3.0M$3.0M
INTL-$3.0M$2.0M$1.0M-$2.0M-$5.0M-$1.0M
BK$0.0$0.0$0.0$0.0$1.0M$0.0
FHS$0.0$0.0$0.0$0.0$0.0$0.0
PLK$0.0$0.0$0.0$0.0$0.0$0.0
RH—$0.0$0.0$0.0$0.0$0.0

Indefinite-lived intangible assets:

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
TH$6.0B$6.0B$6.3B$6.1B$6.2B$6.1B
BK$2.1B$2.1B$2.1B$2.1B$2.1B$2.1B
PLK$1.4B$1.4B$1.4B$1.4B$1.4B$1.4B
FHS$816.0M$816.0M$816.0M$816.0M$816.0M$816.0M

Number of restaurants in operation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
BK19732.0019716.0019666.0019633.0019900.0019851.00
TH6043.006039.006075.006126.006232.006203.00
PLK4979.005015.005086.005229.005413.005420.00
FHS1371.00———1496.00—

Property revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
TH$153.0M$137.0M$166.0M$166.0M$158.0M$146.0M
BK$56.0M$52.0M$55.0M$54.0M$57.0M$56.0M
PLK$4.0M$4.0M$4.0M$4.0M$3.0M$3.0M
FHS$0.0$0.0$0.0$0.0$0.0$0.0
INTL$0.0$1.0M$0.0$0.0$1.0M$0.0
RH—$0.0$0.0$0.0$0.0$0.0

Reporting unit, amount of fair value in excess of carrying amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
BK————$1.0B—

Reporting unit, percentage of fair value in excess of carrying amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
BK————7.0%—

Segment F&P expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
TH$77.0M$78.0M$83.0M$86.0M$83.0M$82.0M
BK$36.0M$31.0M$33.0M$35.0M$31.0M$34.0M
INTL$21.0M$5.0M$9.0M$7.0M—-$14.0M
PLK$1.0M$2.0M$6.0M$3.0M$2.0M$3.0M
FHS$2.0M$2.0M$2.0M$5.0M$1.0M$2.0M
RH—$0.0$0.0$0.0$0.0$0.0

Segment G&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
INTL$50.0M$52.0M$47.0M$47.0M$52.0M$51.0M
TH$42.0M$37.0M$34.0M$33.0M$36.0M$34.0M
BK$35.0M$36.0M$31.0M$30.0M$33.0M$32.0M
RH—$24.0M$23.0M$23.0M$26.0M$24.0M
PLK$22.0M$21.0M$19.0M$17.0M$18.0M$18.0M
FHS$12.0M$14.0M$13.0M$12.0M$12.0M$13.0M

Total

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
TH$564.0M$496.0M$589.0M$619.0M$659.0M$564.0M
RH—$379.0M$406.0M$403.0M$420.0M$401.0M
BK$56.0M$55.0M$57.0M$59.0M$48.0M$43.0M
PLK$43.0M$39.0M$40.0M$39.0M$41.0M$38.0M
FHS$9.0M$9.0M$9.0M$9.0M$11.0M$10.0M
INTL$0.0$0.0$0.0$0.0$0.0$0.0

Total revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
TH$1.0B$903.0M$1.1B$1.1B$1.1B$997.0M
RH—$432.0M$469.0M$459.0M$480.0M$448.0M
BK$374.0M$356.0M$388.0M$387.0M$383.0M$365.0M
INTL$237.0M$218.0M$250.0M$268.0M$262.0M$254.0M
PLK$201.0M$194.0M$210.0M$201.0M$195.0M$190.0M
FHS$58.0M$54.0M$59.0M$60.0M$59.0M$60.0M