Restaurant Brands International (QSR) Operating Margin (2013 - 2026)
Restaurant Brands International (QSR) reported Operating Margin of 26.77% for Q1 2026, up 614.0% year-over-year from 3.75% in Q1 2025, and up 6.29% on a QoQ basis from 25.18% in Q4 2025.
Restaurant Brands International (QSR) has 14 years of Operating Margin data on file, last reported at 26.77% in Q1 2026.
- Quarterly Operating Margin rose 614.0% year-over-year to 26.77% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 24.75% (down 157.0% YoY) and the FY2025 annual result came in at 23.34%, down 544.0% from the prior year.
- Operating Margin advanced to 26.77% in Q1 2026 per QSR's latest filing, from 25.18% in the prior quarter.
- Across five years, Operating Margin topped out at 33.01% in Q2 2022 and bottomed at 20.04% in Q2 2025.
- The 5-year median for Operating Margin is 27.66% (2024), against an average of 27.61%.
- The widest annual swing landed in 2025, when Operating Margin plunged 1183 bps; it then surged 614 bps in 2026.
- Tracing QSR's Operating Margin over 5 years: stood at 20.49% in 2022, then increased by 26 bps to 25.71% in 2023, then gained by 8 bps to 27.66% in 2024, then fell by 9 bps to 25.18% in 2025, then gained by 6 bps to 26.77% in 2026.
- Per Business Quant, the three latest QSR Operating Margin figures stand at 26.77% (Q1 2026), 25.18% (Q4 2025), and 27.07% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Starbucks | 110.27 Bn | 108.58 Bn | 9.40 Bn | 8.69% |
| 2 | Yum Brands | 40.90 Bn | 40.21 Bn | 1.38 Bn | 31.28% |
| 3 | Chipotle Mexican Grill | 39.62 Bn | 38.75 Bn | 2.61 Bn | 12.86% |
| 4 | Restaurant Brands International | 25.25 Bn | 25.79 Bn | 2.14 Bn | 26.77% |
| 5 | Darden Restaurants | 23.41 Bn | 23.17 Bn | 3.31 Bn | 12.15% |
| 6 | Yum China Holdings | 15.07 Bn | 13.64 Bn | 3.24 Bn | 13.67% |
| 7 | Texas Roadhouse | 11.59 Bn | 11.39 Bn | 1.40 Bn | 8.96% |
| 8 | Dominos Pizza | 10.51 Bn | 10.27 Bn | 464.51 Mn | 20.02% |
| 9 | Cava | 8.67 Bn | 8.28 Bn | 797.57 Mn | 1.02% |
| 10 | Dutch Bros | 7.47 Bn | 7.43 Bn | 107.48 Mn | 7.39% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 26.77% |
| Dec 31, 2025 | 25.18% |
| Sep 30, 2025 | 27.07% |
| Jun 30, 2025 | 20.04% |
| Mar 31, 2025 | 20.63% |
| Dec 31, 2024 | 27.66% |
| Sep 30, 2024 | 25.19% |
| Jun 30, 2024 | 31.88% |
| Mar 31, 2024 | 31.28% |
| Dec 31, 2023 | 25.71% |
| Sep 30, 2023 | 31.68% |
| Jun 30, 2023 | 31.21% |
| Mar 31, 2023 | 28.11% |
| Dec 31, 2022 | 20.49% |
| Sep 30, 2022 | 32.50% |
| Jun 30, 2022 | 33.01% |
| Mar 31, 2022 | 31.01% |
| Dec 31, 2021 | 26.91% |
| Sep 30, 2021 | 35.65% |
| Jun 30, 2021 | 33.94% |
| Mar 31, 2021 | 35.08% |
| Dec 31, 2020 | 27.47% |
| Sep 30, 2020 | 31.19% |
| Jun 30, 2020 | 23.19% |
| Mar 31, 2020 | 31.76% |
| Dec 31, 2019 | 34.55% |
| Sep 30, 2019 | 39.16% |
| Jun 30, 2019 | 35.07% |
| Mar 31, 2019 | 34.28% |
| Dec 31, 2018 | 37.26% |
| Sep 30, 2018 | 34.76% |
| Jun 30, 2018 | 37.38% |
| Mar 31, 2018 | 33.57% |
| Dec 31, 2017 | 40.92% |
| Sep 30, 2017 | 39.62% |
| Jun 30, 2017 | 36.66% |
| Mar 31, 2017 | 33.57% |
| Dec 31, 2016 | 44.23% |
| Sep 30, 2016 | 39.09% |
| Jun 30, 2016 | 40.76% |
| Mar 31, 2016 | 35.99% |
| Dec 31, 2015 | 30.46% |
| Sep 30, 2015 | 33.74% |
| Jun 30, 2015 | 28.99% |
| Mar 31, 2015 | 24.01% |
| Dec 31, 2014 | -24.56% |
| Sep 30, 2014 | 0.32% |
| Jun 30, 2014 | 58.00% |
| Mar 31, 2014 | 54.50% |
| Dec 31, 2013 | 53.21% |