Restaurant Brands International (QSR) Operating Margin (2013 - 2026)
Restaurant Brands International (QSR) posted quarterly Operating Margin of 26.77% for Q1 2026, up 614.0% year-over-year from 3.75% in Q1 2025, and up 6.29% quarter-over-quarter from 25.18% in Q4 2025.
Restaurant Brands International (QSR) Operating Margin (2013 - 2026) Analysis & Trends
Restaurant Brands International (QSR) has reported Operating Margin for 14 consecutive years, with 26.77% the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Margin rose 614.0% year-over-year to 26.77%; the TTM figure through Mar 2026 stood at 24.75% (down 157.0% YoY), while the FY2025 annual figure was 23.34%, down 544.0% from the prior year.
- Operating Margin improved 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.
- Historically, Operating Margin has averaged 27.61% across 5 years, with a median of 27.66% in 2024.
- Annual changes were most pronounced in 2025 — Operating Margin slumped 1183 bps — and 2026, when it jumped 614 bps.
- Restaurant Brands International's Operating Margin stood at 20.49% in 2022, then advanced by 26 bps to 25.71% in 2023, then grew by 8 bps to 27.66% in 2024, then slipped by 9 bps to 25.18% in 2025, then grew by 6 bps to 26.77% in 2026.
- Business Quant data shows QSR's Operating Margin at 26.77% in Q1 2026, 25.18% in Q4 2025, and 27.07% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 193.05 Bn | 192.23 Bn | 6.42 Bn | 47.02% |
| 2 | Starbucks | 122.77 Bn | 119.16 Bn | 6.49 Bn | 10.52% |
| 3 | Chipotle Mexican Grill | 42.40 Bn | 41.73 Bn | 2.35 Bn | 15.70% |
| 4 | Yum Brands | 40.42 Bn | 39.75 Bn | 1.47 Bn | 30.20% |
| 5 | Restaurant Brands International | 27.11 Bn | 27.59 Bn | 1.89 Bn | 28.41% |
| 6 | Darden Restaurants | 25.70 Bn | 25.48 Bn | 3.68 Bn | 13.90% |
| 7 | Restaurant Brands International Limited Partnership | 17.24 Bn | 16.18 Bn | 1.89 Bn | 28.41% |
| 8 | Yum China Holdings | 16.42 Bn | 15.74 Bn | 2.22 Bn | 11.09% |
| 9 | Texas Roadhouse | 13.58 Bn | 13.40 Bn | 1.44 Bn | 8.50% |
| 10 | Dominos Pizza | 11.46 Bn | 11.32 Bn | 478.23 Mn | 19.43% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 28.41% |
| 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% |