Restaurant Brands International (QSR) Operating Margin (2012 - 2025)

Restaurant Brands International (QSR) reported Operating Margin of 23.34% for FY2025, down 18.89% year-over-year from 28.78% in FY2024.

Restaurant Brands International (QSR) Operating Margin (2012 - 2025) Analysis & Trends

Restaurant Brands International (QSR) has 14 years of Operating Margin data on file, last reported at 23.34% in FY2025.

Operating Margin for Q1 2026 came in at 26.77%, up 614.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 24.75% (down 157.0% YoY), and the FY2025 annual result was 23.34%, down 544.0% from the prior year.
Operating Margin eased to 23.34% in FY2025 per QSR's latest filing, from 28.78% in the prior year.
Over five years, Operating Margin peaked at 32.74% in FY2021 and troughed at 23.34% in FY2025.
A 5-year average of 28.65% and a median of 29.18% in 2022 frame the typical range for Operating Margin.
The sharpest annual moves came in 2021 and 2025: Operating Margin jumped 412 bps in 2021, then slumped 544 bps in 2025.
A 5-year view of Operating Margin shows it stood at 32.74% in 2021, then retreated by 11 bps to 29.18% in 2022, then increased by 0 bps to 29.21% in 2023, then slipped by 1 bps to 28.78% in 2024, then fell by 19 bps to 23.34% in 2025.
Business Quant data shows QSR's Operating Margin at 23.34% in FY2025, 28.78% in FY2024, and 29.21% in FY2023.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Operating Margin (Yr)
1	Starbucks	116.50 Bn	114.81 Bn	9.40 Bn	-
2	Yum Brands	42.44 Bn	41.76 Bn	1.38 Bn	-
3	Chipotle Mexican Grill	40.63 Bn	39.76 Bn	2.61 Bn	-
4	Restaurant Brands International	25.63 Bn	26.17 Bn	2.14 Bn	-
5	Darden Restaurants	24.42 Bn	24.18 Bn	3.31 Bn	-
6	Yum China Holdings	15.41 Bn	13.98 Bn	3.24 Bn	-
7	Texas Roadhouse	11.06 Bn	10.87 Bn	1.40 Bn	-
8	Dominos Pizza	10.50 Bn	10.27 Bn	464.51 Mn	-
9	Cava	10.23 Bn	9.84 Bn	797.57 Mn	4.69%
10	Dutch Bros	8.24 Bn	8.21 Bn	107.48 Mn	-

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