Filing Flows › Restaurant Brands International (QSR) › Q2 2026 › vs Q2 2025
Restaurant Brands International (QSR) Q2 2026 vs Q2 2025 (year over year)
Restaurant Brands International's revenue rose $110M (+5%) from $2.4B in Q2 2025 to $2.5B in Q2 2026. The biggest changes: TH +$54.0M (+5%); RH +$37.0M (+8%); INTL +$24.0M (+10%). Operating margin 28.4% against 20.0% (+8.4 pts).
Restaurant Brands International, Q2 2026: revenue $2.5B (+5% year over year), operating margin 28.4%, net earnings $507M, operating cash flow $530M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 28.4% | 20.0% | +8.4 pts |
| Net margin | 20.1% | 7.8% | +12.3 pts |
| Free cash flow margin | 19.0% | 17.1% | +2.0 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| TH | $1.1B | $1.1B | $54.0M | +5% |
| RH | $506M | $469M | $37.0M | +8% |
| BK | $342M | $338M | $4.0M | +1% |
| INTL | $274M | $250M | $24.0M | +10% |
| PLK | $199M | $210M | −$11.0M | -5% |
| FHS | $62.0M | $59.0M | $3.0M | +5% |
| Revenue | $2.5B | $2.4B | $110M | +5% |
| Operating profit | $716M | $483M | $233M | +48% |
| Costs & expenses | $1.8B | $1.9B | −$123M | -6% |
| Pre-tax earnings | $592M | $350M | $242M | +69% |
| Other expense, net | $124M | $133M | −$9.0M | -7% |
| General & admin | $181M | $188M | −$7.0M | -4% |
| Other operating costs | $1.6B | $1.7B | −$116M | -7% |
| Income tax benefit | $73.0M | −$87.0M | $160M | — |
| Net earnings | $507M | $189M | $318M | +168% |
| Minority interests | $158M | $74.0M | $84.0M | +114% |
| Depreciation & amortization | $77.0M | $77.0M | $0 | 0% |
| Share-based compensation | $35.0M | $33.0M | $2.0M | +6% |
| Working capital & other | $89.0M | −$150M | $239M | — |
| Operating cash flow | $530M | $449M | $81.0M | +18% |
| Free cash flow (OCF − capex) | $479M | $411M | $68.0M | +17% |
| Capital expenditures | $51.0M | $38.0M | $13.0M | +34% |
Questions
How much did Restaurant Brands International's revenue grow year over year in Q2 2026?
Restaurant Brands International's revenue rose $110M (+5%) from $2.4B in Q2 2025 to $2.5B in Q2 2026.
What drove Restaurant Brands International's revenue change in Q2 2026?
TH +$54.0M (+5%); RH +$37.0M (+8%); INTL +$24.0M (+10%).