Restaurant Brands International Inc. (QSR)

Restaurant Brands International Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	1,201	1,445	1,718	1,482	1,253
Depreciation & Amortization	301	264	191	190	201
Stock-Based Compensation	151	172	194	136	102
Other Adjustments	173	-269	-511	18	32
Change in Receivables	-89	7	-147	-110	8
Changes in Inventories	-67	30	-43	-61	12
Changes in Accounts Payable	89	-30	22	169	149
Changes in Accrued Expenses	-7	-37	9	37	67
Changes in Other Operating Activities	-185	-79	-110	-371	-98
Operating Cash Flow	1,714	1,503	1,323	1,490	1,726
Operating Cash Flow Growth	14.04%	13.61%	-11.21%	-13.67%	87.41%
Capital Expenditures	-265	-201	-120	-100	-106
Sale of Property, Plant & Equipment	38	34	37	12	16
Payments for Business Acquisitions	-152	-540	-17	-12	-1,004
Other Investing Activities	61	47	111	36	-9
Investing Cash Flow	-318	-660	11	-64	-1,103
Long-Term Debt Issued	-	2,450	55	2	1,335
Long-Term Debt Repaid	-427	-2,190	-92	-94	-889
Net Long-Term Debt Issued (Repaid)	-427	260	-37	-92	446
Issuance of Common Stock	33	78	60	51	60
Repurchase of Common Stock	-	-	-500	-326	-551
Net Common Stock Issued (Repurchased)	33	78	-440	-275	-491
Common Dividends Paid	-1,108	-1,029	-990	-971	-974
Other Financing Activities	66	66	93	31	-74
Financing Cash Flow	-1,436	-625	-1,374	-1,307	-1,093
Effect of Exchange Rate Changes on Cash and Cash Equivalents	16	-23	1	-28	-3
Net Cash Flow	-276	390	-78	91	-473
Free Cash Flow	1,449	1,302	1,203	1,390	1,620
Free Cash Flow Growth	11.29%	8.23%	-13.45%	-14.20%	101.49%
FCF Margin	15.36%	15.49%	17.13%	21.37%	28.23%
Free Cash Flow Per Share	3.17	2.87	2.64	3.05	3.49
Levered Free Cash Flow	215	1,228	1,102	780	1,509
Unlevered Free Cash Flow	1,436	1,879	2,374	1,925	1,952

Updated Feb 12, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q