Restaurant Brands International annual free cash flow
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2025
Restaurant Brands International Free Cash Flow (FCF) History (QSR)
Restaurant Brands International reported $1.45B in free cash flow for fiscal 2025, an increase of 11.29% from the previous fiscal year, with a free cash flow margin of 15.36%.
View full Restaurant Brands International company overviewRestaurant Brands International free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $1.45B | $147.0M | +11.29% | +15.36% |
| 2024 | 2024-12-31 | $1.30B | $99.0M | +8.23% | +15.49% |
| 2023 | 2023-12-31 | $1.20B | −$187.0M | −13.45% | +17.13% |
| 2022 | 2022-12-31 | $1.39B | −$230.0M | −14.20% | +21.37% |
| 2021 | 2021-12-31 | $1.62B | $816.0M | +101.49% | +28.23% |
| 2020 | 2020-12-31 | $804.0M | −$610.0M | −43.14% | +16.18% |
| 2019 | 2019-12-31 | $1.41B | $335.0M | +31.05% | +25.24% |
| 2018 | 2018-12-31 | $1.08B | −$275.0M | −20.31% | +20.14% |
| 2017 | 2017-12-31 | $1.35B | $138.0M | +11.35% | +29.59% |
| 2016 | 2016-12-31 | $1.22B | $126.5M | +11.61% | +29.33% |
| 2015 | 2015-12-31 | $1.09B | $861.1M | +377.01% | +26.89% |
| 2014 | 2014-12-31 | $228.4M | −$71.3M | −23.79% | +19.05% |
| 2013 | 2013-12-31 | $299.7M | $145.5M | +94.36% | +26.14% |
| 2012 | 2012-12-31 | $154.2M | — | — | +7.82% |
Restaurant Brands International quarterly free cash flow
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Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $479.0M | $68.0M | +16.55% | +19.01% |
| Q1 2026 | 2026-03-31 | $169.0M | $115.0M | +212.96% | +7.46% |
| Q4 2025 | 2025-12-31 | $453.0M | $49.0M | +12.13% | +18.37% |
| Q3 2025 | 2025-09-30 | $531.0M | $46.0M | +9.48% | +21.68% |
| Q2 2025 | 2025-06-30 | $411.0M | $120.0M | +41.24% | +17.05% |
| Q1 2025 | 2025-03-31 | $54.0M | −$68.0M | −55.74% | +2.56% |
| Q4 2024 | 2024-12-31 | $404.0M | $48.0M | +13.48% | +17.60% |
| Q3 2024 | 2024-09-30 | $485.0M | $77.0M | +18.87% | +21.17% |
| Q2 2024 | 2024-06-30 | $291.0M | −$71.0M | −19.61% | +13.99% |
| Q1 2024 | 2024-03-31 | $122.0M | $45.0M | +58.44% | +7.02% |
| Q4 2023 | 2023-12-31 | $356.0M | −$19.0M | −5.07% | +19.56% |
| Q3 2023 | 2023-09-30 | $408.0M | $34.0M | +9.09% | +22.21% |
| Q2 2023 | 2023-06-30 | $362.0M | −$55.0M | −13.19% | +20.39% |
| Q1 2023 | 2023-03-31 | $77.0M | −$147.0M | −65.63% | +4.84% |
| Q4 2022 | 2022-12-31 | $375.0M | −$60.0M | −13.79% | +22.20% |
| Q3 2022 | 2022-09-30 | $374.0M | −$112.0M | −23.05% | +21.67% |
| Q2 2022 | 2022-06-30 | $417.0M | −$31.0M | −6.92% | +25.44% |
| Q1 2022 | 2022-03-31 | $224.0M | −$27.0M | −10.76% | +15.44% |
| Q4 2021 | 2021-12-31 | $435.0M | $168.0M | +62.92% | +28.14% |
| Q3 2021 | 2021-09-30 | $486.0M | $106.0M | +27.89% | +32.51% |
| Q2 2021 | 2021-06-30 | $448.0M | $408.0M | +1020.00% | +31.15% |
| Q1 2021 | 2021-03-31 | $251.0M | $134.0M | +114.53% | +19.92% |
| Q4 2020 | 2020-12-31 | $267.0M | −$268.0M | −50.09% | +19.66% |
| Q3 2020 | 2020-09-30 | $380.0M | −$38.0M | −9.09% | +28.42% |
| Q2 2020 | 2020-06-30 | $40.0M | −$272.0M | −87.18% | +3.82% |
| Q1 2020 | 2020-03-31 | $117.0M | −$32.0M | −21.48% | +9.55% |
| Q4 2019 | 2019-12-31 | $535.0M | $76.0M | +16.56% | +36.17% |
| Q3 2019 | 2019-09-30 | $418.0M | $63.0M | +17.75% | +28.67% |
| Q2 2019 | 2019-06-30 | $312.0M | −$71.0M | −18.54% | +22.29% |
| Q1 2019 | 2019-03-31 | $149.0M | $267.0M | — | +11.77% |
| Q4 2018 | 2018-12-31 | $459.0M | −$67.8M | −12.87% | +33.14% |
| Q3 2018 | 2018-09-30 | $355.0M | $6.1M | +1.75% | +25.82% |
| Q2 2018 | 2018-06-30 | $383.0M | $189.5M | +97.93% | +28.52% |
| Q1 2018 | 2018-03-31 | −$118.0M | −$402.8M | — | −9.41% |
| Q4 2017 | 2017-12-31 | $526.8M | $211.6M | +67.13% | +42.69% |
| Q3 2017 | 2017-09-30 | $348.9M | −$59.4M | −14.55% | +28.87% |
| Q2 2017 | 2017-06-30 | $193.5M | −$121.3M | −38.53% | +17.08% |
| Q1 2017 | 2017-03-31 | $284.8M | $107.1M | +60.27% | +28.46% |
| Q4 2016 | 2016-12-31 | $315.2M | $93.2M | +41.98% | +28.36% |
| Q3 2016 | 2016-09-30 | $408.3M | −$8.0M | −1.92% | +37.96% |
| Q2 2016 | 2016-06-30 | $314.8M | $95.9M | +43.81% | +30.26% |
| Q1 2016 | 2016-03-31 | $177.7M | −$54.6M | −23.50% | +19.35% |
| Q4 2015 | 2015-12-31 | $222.0M | $358.5M | — | +21.00% |
| Q3 2015 | 2015-09-30 | $416.3M | $257.3M | +161.82% | +40.83% |
| Q2 2015 | 2015-06-30 | $218.9M | $134.9M | +160.60% | +21.00% |
| Q1 2015 | 2015-03-31 | $232.3M | $110.4M | +90.57% | +24.89% |
| Q4 2014 | 2014-12-31 | −$136.5M | — | — | −32.67% |
| Q3 2014 | 2014-09-30 | $159.0M | — | — | +57.01% |
| Q2 2014 | 2014-06-30 | $84.0M | — | — | +32.16% |
| Q1 2014 | 2014-03-31 | $121.9M | — | — | +50.60% |
Restaurant Brands International free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $804.0M to $1.45B, a compound annual growth rate of 12.50%. Restaurant Brands International's latest reported quarter, Q2 2026, generated $479.0M in free cash flow, an increase of 16.55% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Restaurant Brands International filings at SEC.gov ↗