Filing Flows › Restaurant Brands International (QSR) › Q3 2026 › vs Q3 2025
Restaurant Brands International (QSR) Q3 2026 vs Q3 2025 (year over year)
Restaurant Brands International's revenue rose $76.0M (+3%) from $2.4B in Q3 2025 to $2.5B in Q3 2026. The biggest changes: RH +$28.0M (+6%); INTL +$21.0M (+8%); TH +$11.0M (+1%). Operating margin 27.6% against 27.1% (+0.5 pts).
Restaurant Brands International, Q3 2026: revenue $2.5B (+3% year over year), operating margin 27.6%, net earnings $542M, operating cash flow $551M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 27.6% | 27.1% | +0.5 pts |
| Net margin | 21.5% | 12.9% | +8.6 pts |
| Free cash flow margin | 19.0% | 21.7% | -2.7 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| TH | $1.1B | $1.1B | $11.0M | +1% |
| RH | $487M | $459M | $28.0M | +6% |
| BK | $345M | $338M | $7.0M | +2% |
| INTL | $289M | $268M | $21.0M | +8% |
| PLK | $204M | $201M | $3.0M | +1% |
| FHS | $65.0M | $60.0M | $5.0M | +8% |
| Revenue | $2.5B | $2.4B | $76.0M | +3% |
| Operating profit | $696M | $663M | $33.0M | +5% |
| Costs & expenses | $1.8B | $1.8B | $43.0M | +2% |
| Pre-tax earnings | $571M | $530M | $41.0M | +8% |
| Other expense, net | $125M | $133M | −$8.0M | -6% |
| General & admin | $183M | $170M | $13.0M | +8% |
| Other operating costs | $1.6B | $1.6B | $30.0M | +2% |
| Income tax benefit | $133M | −$94.0M | $227M | — |
| Net earnings | $542M | $315M | $227M | +72% |
| Minority interests | $162M | $121M | $41.0M | +34% |
| Depreciation & amortization | $74.0M | $76.0M | −$2.0M | -3% |
| Share-based compensation | $34.0M | $32.0M | $2.0M | +6% |
| Working capital & other | $99.0M | −$169M | $268M | — |
| Operating cash flow | $551M | $592M | −$41.0M | -7% |
| Free cash flow (OCF − capex) | $479M | $531M | −$52.0M | -10% |
| Capital expenditures | $72.0M | $61.0M | $11.0M | +18% |
Questions
How much did Restaurant Brands International's revenue grow year over year in Q3 2026?
Restaurant Brands International's revenue rose $76.0M (+3%) from $2.4B in Q3 2025 to $2.5B in Q3 2026.
What drove Restaurant Brands International's revenue change in Q3 2026?
RH +$28.0M (+6%); INTL +$21.0M (+8%); TH +$11.0M (+1%).