Restaurant Brands International (QSR) Operating Expenses (2014 - 2026)
Restaurant Brands International's Operating Expenses came in at $1.8 billion for Q2 2026, down 6.4% from $1.93 billion a year earlier but up 8.8% from the prior quarter.
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Analysis
Restaurant Brands International (QSR) Operating Expenses (2014 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Restaurant Brands International reported Operating Expenses of $7.09 billion, up 1.7% year-over-year; for FY2025, it was $7.23 billion, up 20.8% from FY2024.
- Operating Expenses has increased in each of the last five years, with a five-year compound annual growth rate of 15.3% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $5.99 billion in FY2024 (+20.4%), $4.97 billion in FY2023 (+7.9%), $4.61 billion in FY2022 (+19.4%) and $3.86 billion in FY2021 (+8.9%).
- The five-year range for quarterly Operating Expenses is $962 million (Q3 2021) to $1.93 billion (Q2 2025).
- Year-over-year, Operating Expenses increased in six of the last eight quarters, with growth averaging 17.9%.
- The fastest year-over-year change in Operating Expenses over five years came in Q1 2025 (growth of 40.1%), and the weakest in Q2 2026 (a decline of 6.4%).
- Business Quant data shows QSR's Operating Expenses at $1.66 billion (Q1 2026), $1.85 billion (Q4 2025) and $1.79 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 171.96 Bn | 166.78 Bn | 6.42 Bn | 3.76 Bn |
| 2 | Starbucks | 110.34 Bn | 97.96 Bn | - | 8.42 Bn |
| 3 | Yum Brands | 41.48 Bn | 38.36 Bn | 1.47 Bn | 1.51 Bn |
| 4 | Chipotle Mexican Grill | 39.00 Bn | 34.98 Bn | - | 2.82 Bn |
| 5 | Restaurant Brands International | 25.80 Bn | 21.35 Bn | 1.38 Bn | 1.80 Bn |
| 6 | Darden Restaurants | 24.38 Bn | 23.48 Bn | 1.68 Bn | 2.88 Bn |
| 7 | Restaurant Brands International Limited Partnership | 17.01 Bn | 12.57 Bn | 1.38 Bn | 1.80 Bn |
| 8 | Yum China Holdings | 15.57 Bn | 9.23 Bn | 537.00 Mn | 2.79 Bn |
| 9 | Texas Roadhouse | 11.21 Bn | 10.55 Bn | - | 1.54 Bn |
| 10 | Luckin Coffee | 10.73 Bn | 9.81 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.80 Bn |
| Mar 31, 2026 | 1.66 Bn |
| Dec 31, 2025 | 1.85 Bn |
| Sep 30, 2025 | 1.79 Bn |
| Jun 30, 2025 | 1.93 Bn |
| Mar 31, 2025 | 1.67 Bn |
| Dec 31, 2024 | 1.66 Bn |
| Sep 30, 2024 | 1.71 Bn |
| Jun 30, 2024 | 1.42 Bn |
| Mar 31, 2024 | 1.20 Bn |
| Dec 31, 2023 | 1.35 Bn |
| Sep 30, 2023 | 1.26 Bn |
| Jun 30, 2023 | 1.22 Bn |
| Mar 31, 2023 | 1.14 Bn |
| Dec 31, 2022 | 1.34 Bn |
| Sep 30, 2022 | 1.17 Bn |
| Jun 30, 2022 | 1.10 Bn |
| Mar 31, 2022 | 1.00 Bn |
| Dec 31, 2021 | 1.13 Bn |
| Sep 30, 2021 | 962.00 Mn |
API Access
Restaurant Brands International Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=QSR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "QSR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=QSR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();