What does FHS — number of restaurants in operation mean?

The total count of active restaurant locations within the segment at the end of the reporting period. This is a primary operational metric used to track the physical footprint and growth trajectory of the brand.

Restaurant Brands International QSR FHS — Number of restaurants in operation

Other segment segments

19.9K+0.7%

6.2K+2.7%

PLK

5.4K+8.1%

Similar metrics at other companies

LOCOPH — Number Of Restaurants

80.0%

DINFranchise — Number of restaurants

1.8K—

WINGInternational and US locations — Number of restaurants

500+28.9%

DINDomestic — Number of restaurants

780-1.3%

RHFR — Number Of Stores

1—

TXRHUS — Number Of Restaurants

2—

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$25.79B+20.2%

Enterprise value$40.43B+11.2%

P/E19.9×+2.0×

P/S2.7×+0.3×

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

Reported directly by Restaurant Brands International in its filing.

Tagged under the XBRL concept us-gaap:NumberOfRestaurants.

The official record: Restaurant Brands International’s 10-K, filed February 20, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Restaurant Brands International's FHS — number of restaurants in operation?: Restaurant Brands International (QSR) reported FHS — number of restaurants in operation of 1.5K in Q4 2025.
How has Restaurant Brands International's FHS — number of restaurants in operation changed year-over-year?: Restaurant Brands International's FHS — number of restaurants in operation increased by 9.1% year-over-year, from 1.4K to 1.5K.
What does FHS — number of restaurants in operation mean?: The total count of active restaurant locations within the segment at the end of the reporting period. This is a primary operational metric used to track the physical footprint and growth trajectory of the brand.