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Restaurant Brands International Inc. (QSR)
NYSE: QSR · Real-Time Price · USD
78.39
+4.08 (5.49%)
At close: Nov 4, 2026, 4:00 PM EST
78.25
-0.14 (-0.18%)
After-hours: Nov 4, 2026, 7:27 PM EST

Restaurant Brands International Cash Flow Statement

Millions USD. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Income
1,5007761,0211,1901,008838
Depreciation & Amortization
305301264191190201
Other Amortization
242525272827
Loss (Gain) on Equity Investments
-9-11-69-8444
Stock-Based Compensation
142151172194136102
Other Operating Activities
35584199-2420416
Change in Accounts Receivable
-50-897-147-1108
Change in Inventory
-46-6730-43-6112
Change in Accounts Payable
-489-3022169149
Change in Other Net Operating Assets
-34-45-116-101-334-31
Operating Cash Flow
1,8171,5671,5031,3231,4901,726
Operating Cash Flow Growth
20.89%4.26%13.61%-11.21%-13.67%87.41%

Investing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Capital Expenditures
-283-265-201-120-100-106
Sale of Property, Plant & Equipment
663834371216
Cash Acquisitions
-10-152-540-17-12-1,004
Other Investing Activities
4614711136-9
Investing Cash Flow
-223-318-66011-64-1,103

Financing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Long-Term Debt Issued
--2,4505521,335
Long-Term Debt Repaid
--427-2,190-92-94-889
Net Debt Issued (Repaid)
-315-427260-37-92446
Issuance of Common Stock
573378605160
Repurchase of Common Stock
-444---500-326-551
Common Dividends Paid
-1,157-1,108-1,029-990-971-974
Dividends Paid
-1,157-1,108-1,029-990-971-974
Other Financing Activities
4366669331-74
Financing Cash Flow
-1,816-1,436-625-1,374-1,307-1,093

Net Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Foreign Exchange Rate Adjustments
-1016-231-28-3
Net Cash Flow
-232-171195-3991-473

Free Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Free Cash Flow
1,5341,3021,3021,2031,3901,620
Free Cash Flow Growth
21.46%0%8.23%-13.45%-14.20%101.49%
Free Cash Flow Margin
15.69%13.80%15.49%17.13%21.37%28.23%
Free Cash Flow Per Share
3.342.852.872.643.063.49
Levered Free Cash Flow
1,5931,3901,4681,1191,2501,373
Unlevered Free Cash Flow
1,8951,7071,8281,4811,5591,664

Additional Metrics

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash Interest Paid
668714785761487404
Cash Income Tax Paid
378450293290275256
Change in Working Capital
-134-112-109-269-336138
SEC Filings: 10-K · 10-Q