Restaurant Brands International Inc.

QSRNYSEConsumer Cyclical● Active

$72.66

+$0.83(+1.16%)

Market Cap$25.2B

P/E Ratio—

52W High$81.96

52W Low$61.33

Avg Volume3.6M

Open$71.90

Beta0.52

Free Cash Flow Financials Revenue

Restaurant Brands International Inc. (QSR) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

QSR · free cash flow · updated Jun 8, 2026

Core FCF metrics

QSR · FCF · TTM · margin & CAGR

Free cash flow was $1.45B for FY2025 (fiscal year ending 2025-12-31), up 11.3% year-over-year The FCF margin was 15.4%. Five-year CAGR stands at +12.5%.

FY2025 Free Cash Flow$1.45B▲ +11.3% YoY

Trailing 12M (TTM)$1.51Btrailing 4 quarters sum

FCF Margin15.4%$1.45B ÷ revenue

3-Year CAGR+1.4%FY2022 → FY2025

5-Year CAGR+12.5%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

QSR · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.71B(265M)$1.45B▲ +11.3%15.4%

FY2024$1.50B(201M)$1.30B▲ +8.2%15.5%

FY2023$1.32B(120M)$1.20B▼ 13.5%17.1%

FY2022$1.49B(100M)$1.39B▼ 14.2%21.4%

FY2021$1.73B(106M)$1.62B▲ +101.5%28.2%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

QSR · P/FCF · FCF yield · FCF per share

Restaurant Brands International Inc. (QSR) trades at a FCF yield of 6.01% and a price-to-free-cash-flow ratio of 16.0x. FCF per share stands at $4.53, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

6.01%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$4.53

TTM FCF ÷ Shares Outstanding

Price / FCF

x16.0

Share Price ÷ FCF per Share

EV / FCF (TTM)

x26.3

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

QSR · cash flow statement · operating / investing / financing

For FY2025, Restaurant Brands International Inc. generated $1.71B in operating cash flow and spent 265M in capital expenditures, yielding $1.45B in free cash flow.

Operating Activities

+$1.71B

Cash from core business operations

2025-12-31

Investing Activities

−$399.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$1.44B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.71B) − |CapEx| (265M) = FCF ($1.45B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Consumer Cyclical)

QSR vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Restaurant Brands International Inc.YOU

QSR

$1.45B+11.3%15.4%

Toyota Motor Corporation

Alibaba Group Holding Limited

BABA

−$50.72B-164.9%-5.0%

Loss

Consumer Cyclical · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Restaurant Brands International Inc. (QSR) reported free cash flow of $1.45B for FY2025 (fiscal year ending 2025-12-31), up 11.3% year-over-year. The FCF margin was 15.4%.

Based on available data, Restaurant Brands International Inc. has maintained positive free cash flow for at least 14 fiscal year(s). FCF peaked at $1.62B in FY2021. The 5-year CAGR stands at +12.5%.

Restaurant Brands International Inc.'s FCF yield is 6.01% and price-to-FCF ratio is 16.0x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

QSR free cash flow · 8 questions

Restaurant Brands International Inc. free cash flow was $1.45B for FY2025, up 11.3% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $1.51B.

QSR free cash flowQSR FCFQSR FCF 2025QSR free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Restaurant Brands International Inc. · Restaurant Brands International Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026