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Restaurant Brands International QSR Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

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Other financials

Income statement

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Revenue$2.3B+7.3%
Gross profit$1.1B+8.9%
Operating income$606.0M+39.3%
Net income$445.0M+101%
EPS (diluted)$0.97+98.0%

Balance sheet

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Cash & equivalents$1.0B+12.6%
Total debt$15.6B-1.5%
Total equity$3.7B+20.1%
Total assets$24.9B0.0%

Cash flow

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Operating cash flow$227.0M+92.4%
CapEx$58.0M-9.4%
Free cash flow$169.0M+213%

Valuation

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Market cap$25.68B+13.4%
Enterprise value$40.32B+7.3%
P/E19.8×+0.9×
P/S2.7×+0.2×

Profitability

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Gross margin65.3%+0.9pp
Operating margin24.7%-1.6pp
Net margin13.5%-1.7pp
FCF margin16.3%+2.2pp

Returns & leverage

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Return on equity37.9%-6.1pp
Debt / equity4.2×-0.9×
Current ratio1×0.0×

Where this comes from

Calculated from Restaurant Brands International’s reported figures.

$15.6Btotal debt−$1.0Bcash and equivalents=$14.64B

The source filing: Restaurant Brands International’s 10-Q, filed May 6, 2026. Open the filing →

Filed
May 6, 2026, 4:24 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001618756-26-000029

FAQ

What is Restaurant Brands International's net debt?
Restaurant Brands International (QSR) reported net debt of $14.64B in Q1 2026.
How has Restaurant Brands International's net debt changed year-over-year?
Restaurant Brands International's net debt decreased by 2.3% year-over-year, from $14.98B to $14.64B.
What is the long-term trend for Restaurant Brands International's net debt?
Over 5 years (2020 to 2025), Restaurant Brands International's net debt has grown at a 3.1% compound annual growth rate (CAGR), from $12.48B to $14.52B.
What does net debt mean?
Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

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