Th was Restaurant Brands International’s largest segment in fiscal 2025, bringing in $4.25B of $9.43B (45%).
| Segment | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Th | $3.80B | $3.97B | $4.04B | $4.25B | |||||||||
| Tim Hortons Brand | — | — | — | — | |||||||||
| Tim Hortons | — | — | — | — | |||||||||
| Rh | — | — | $1.12B | $1.84B | |||||||||
| Bk | $1.20B | $1.30B | $1.45B | $1.51B | |||||||||
| Burger King Brand | — | — | — | — | |||||||||
| Burger King | — | — | — | — | |||||||||
| Intl | $751.00M | $874.00M | $935.00M | $998.00M | |||||||||
| Intl Segment | — | — | — | — | |||||||||
| Plk | $619.00M | $692.00M | $768.00M | $800.00M | |||||||||
| Popeyes Brand | — | — | — | — | |||||||||
| Popeyes | — | — | — | — | |||||||||
| Fhs | $138.00M | $187.00M | $214.00M | $232.00M | |||||||||
| Fhs Segment | — | — | — | — | |||||||||
| Intersegment Revenues | — | — | -$117.00M | -$197.00M | |||||||||
| Total | $6.51B | $7.02B | $8.41B | $9.43B |
Restaurant Brands International brought in $9.43B from its seven segments in fiscal 2025, the year ended December 31, 2025. That was up 12.2% from $8.41B in fiscal 2024. Th was the largest at $4.25B (45.0%), ahead of Rh at $1.84B (19.5%) and Bk at $1.51B (16.0%). The other three segments brought in $2.03B combined.
Compared with fiscal 2024, Rh grew fastest, up 64.9% to $1.84B. Every segment above 2% of revenue grew.
Restaurant Brands International began breaking out Rh in fiscal 2024 and Intersegment Revenues in fiscal 2024. The total is net of Intersegment Revenues, which took $197.00M off revenue in fiscal 2025.
United States was Restaurant Brands International’s largest region in fiscal 2025, bringing in $4.56B of $9.43B (48%).
| Geography | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Canada | — | $3.63B | $3.68B | $3.85B | ||||||||||
| Canadian | $3.48B | — | — | — | ||||||||||
| United States | $2.27B | $2.52B | $3.78B | $4.56B | ||||||||||
| Bk - U.S. & Canada | — | — | — | — | ||||||||||
| Outside Canada | — | — | — | — | ||||||||||
| Other | $751.00M | $874.00M | $939.00M | $1.03B | ||||||||||
| Bk - Emea | — | — | — | — | ||||||||||
| Bk - Lac | — | — | — | — | ||||||||||
| Bk - Apac | — | — | — | — | ||||||||||
| Total | $6.51B | $7.02B | $8.41B | $9.43B |
Restaurant Brands International brought in $9.43B from its three regions in fiscal 2025, the year ended December 31, 2025. That was up 12.2% from $8.41B in fiscal 2024. United States was the largest at $4.56B (48.3%), ahead of Canada at $3.85B (40.8%) and Other at $1.03B (10.9%).
Compared with fiscal 2024, United States grew fastest, up 20.5% to $4.56B. Every region above 2% of revenue grew.
Restaurant Brands International stopped reporting Canadian as a separate region after fiscal 2022, when it brought in $3.48B.
Product was Restaurant Brands International’s largest product and service line in fiscal 2025, bringing in $5.26B of $9.43B (56%).
| Product and Service | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| Product | $2.82B | $2.95B | $4.30B | $5.26B | |||
| Sales | — | — | — | — | |||
| Franchise & Property Revenues | $2.66B | $2.90B | $2.92B | $2.96B | |||
| Advertising Revenues & Other Services | $1.03B | $1.17B | $1.19B | $1.22B | |||
| Advertising Revenues | — | — | — | — | |||
| Total | $6.51B | $7.02B | $8.41B | $9.43B |
Restaurant Brands International brought in $9.43B from its three product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 12.2% from $8.41B in fiscal 2024. Product was the largest at $5.26B (55.7%), ahead of Franchise & Property Revenues at $2.96B (31.4%) and Advertising Revenues & Other Services at $1.22B (12.9%).
Compared with fiscal 2024, Product grew fastest, up 22.3% to $5.26B. Every line above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these lines grew from $6.51B to $9.43B, a compound annual growth rate of 13.2%. Product's share of the total rose from 43.3% to 55.7%.
Restaurant Brands International (QSR) reports its revenue by segment, by geography and by product and service. In fiscal 2025, Th was its largest segment, bringing in $4.25B (45.0% of the total), followed by Rh at $1.84B (19.5%).
Th was Restaurant Brands International's largest segment in fiscal 2025, bringing in $4.25B, or 45.0% of the $9.43B total across its seven segments.
United States was Restaurant Brands International's largest region in fiscal 2025, bringing in $4.56B, or 48.3% of the $9.43B total across its three regions.
Product was Restaurant Brands International's largest product and service line in fiscal 2025, bringing in $5.26B, or 55.7% of the $9.43B total across its three product and service lines.
Among Restaurant Brands International's segments that make up at least 2% of revenue, Rh grew fastest in fiscal 2025, up 64.9% from $1.12B to $1.84B.
Every figure comes from Restaurant Brands International's annual financial filings, as reported. Each line keeps the name Restaurant Brands International gives it, and years follow its fiscal calendar.
Restaurant Brands International's revenue by segment goes back to fiscal 2013, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.