Restaurant Brands International annual net debt
2013
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2022
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2025
Restaurant Brands International Net Debt Growth & History (QSR)
Restaurant Brands International's net debt was $14.52B for fiscal 2025.
View full Restaurant Brands International company overviewRestaurant Brands International annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $14.52B | −$76.0M | −0.52% |
| 2024 | 2024-12-31 | $14.59B | $1.26B | +9.43% |
| 2023 | 2023-12-31 | $13.33B | $71.0M | +0.54% |
| 2022 | 2022-12-31 | $13.26B | −$205.0M | −1.52% |
| 2021 | 2021-12-31 | $13.47B | $986.0M | +7.90% |
| 2020 | 2020-12-31 | $12.48B | $652.0M | +5.51% |
| 2019 | 2019-12-31 | $11.83B | $603.0M | +5.37% |
| 2018 | 2018-12-31 | $11.23B | $201.0M | +1.82% |
| 2017 | 2017-12-31 | $11.03B | $3.78B | +52.16% |
| 2016 | 2016-12-31 | $7.25B | −$683.3M | −8.62% |
| 2015 | 2015-12-31 | $7.93B | −$466.0M | −5.55% |
| 2014 | 2014-12-31 | $8.40B | $6.15B | +273.13% |
| 2013 | 2013-12-31 | $2.25B | — | — |
Restaurant Brands International quarterly net debt
Q4.14
Q1.15
Q2.15
Q3.15
Q4.15
Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $14.59B | −$353.0M | −2.36% |
| Q1 2026 | 2026-03-31 | $14.67B | −$347.0M | −2.31% |
| Q4 2025 | 2025-12-31 | $14.52B | −$76.0M | −0.52% |
| Q3 2025 | 2025-09-30 | $14.64B | −$161.0M | −1.09% |
| Q2 2025 | 2025-06-30 | $14.94B | −$83.0M | −0.55% |
| Q1 2025 | 2025-03-31 | $15.02B | $1.59B | +11.87% |
| Q4 2024 | 2024-12-31 | $14.59B | $1.26B | +9.43% |
| Q3 2024 | 2024-09-30 | $14.80B | $1.71B | +13.07% |
| Q2 2024 | 2024-06-30 | $15.02B | $1.81B | +13.71% |
| Q1 2024 | 2024-03-31 | $13.42B | $41.0M | +0.31% |
| Q4 2023 | 2023-12-31 | $13.33B | $71.0M | +0.54% |
| Q3 2023 | 2023-09-30 | $13.09B | −$384.0M | −2.85% |
| Q2 2023 | 2023-06-30 | $13.21B | −$463.0M | −3.39% |
| Q1 2023 | 2023-03-31 | $13.38B | −$285.0M | −2.09% |
| Q4 2022 | 2022-12-31 | $13.26B | −$205.0M | −1.52% |
| Q3 2022 | 2022-09-30 | $13.47B | $1.23B | +10.06% |
| Q2 2022 | 2022-06-30 | $13.68B | $1.41B | +11.46% |
| Q1 2022 | 2022-03-31 | $13.67B | $1.20B | +9.66% |
| Q4 2021 | 2021-12-31 | $13.47B | $986.0M | +7.90% |
| Q3 2021 | 2021-09-30 | $12.24B | $266.0M | +2.22% |
| Q2 2021 | 2021-06-30 | $12.27B | −$75.0M | −0.61% |
| Q1 2021 | 2021-03-31 | $12.46B | $595.0M | +5.01% |
| Q4 2020 | 2020-12-31 | $12.48B | $652.0M | +5.51% |
| Q3 2020 | 2020-09-30 | $11.97B | −$94.0M | −0.78% |
| Q2 2020 | 2020-06-30 | $12.34B | $82.0M | +0.67% |
| Q1 2020 | 2020-03-31 | $11.87B | −$522.0M | −4.21% |
| Q4 2019 | 2019-12-31 | $11.83B | $603.0M | +5.37% |
| Q3 2019 | 2019-09-30 | $12.07B | $1.12B | +10.28% |
| Q2 2019 | 2019-06-30 | $12.26B | $1.16B | +10.48% |
| Q1 2019 | 2019-03-31 | $12.39B | $1.14B | +10.13% |
| Q4 2018 | 2018-12-31 | $11.23B | $201.0M | +1.82% |
| Q3 2018 | 2018-09-30 | $10.94B | $2.98B | +37.37% |
| Q2 2018 | 2018-06-30 | $11.10B | $3.00B | +37.01% |
| Q1 2018 | 2018-03-31 | $11.25B | $2.34B | +26.20% |
| Q4 2017 | 2017-12-31 | $11.03B | $3.78B | +52.16% |
| Q3 2017 | 2017-09-30 | $7.97B | $511.8M | +6.87% |
| Q2 2017 | 2017-06-30 | $8.10B | $366.9M | +4.74% |
| Q1 2017 | 2017-03-31 | $8.92B | $1.00B | +12.70% |
| Q4 2016 | 2016-12-31 | $7.25B | −$683.3M | −8.62% |
| Q3 2016 | 2016-09-30 | $7.45B | −$305.7M | −3.94% |
| Q2 2016 | 2016-06-30 | $7.73B | −$437.0M | −5.35% |
| Q1 2016 | 2016-03-31 | $7.91B | −$228.8M | −2.81% |
| Q4 2015 | 2015-12-31 | $7.93B | −$466.0M | −5.55% |
| Q3 2015 | 2015-09-30 | $7.76B | — | — |
| Q2 2015 | 2015-06-30 | $8.17B | — | — |
| Q1 2015 | 2015-03-31 | $8.14B | — | — |
| Q4 2014 | 2014-12-31 | $8.40B | — | — |
Restaurant Brands International net debt trends
Over the last five fiscal years, Restaurant Brands International's net debt increased from $12.48B to $14.52B, a change of $2.03B. The latest reported quarter, Q2 2026, shows $14.59B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Restaurant Brands International source filings ↗Community posts
Restaurant Brands renews repurchase framework supporting $1 billion plan
Restaurant Brands International ($QSR) received TSX approval to renew its normal-course issuer bid, allowing purchases of up to 34.4 million common shares over a 12-month period. The maximum represents 10% of the public float and supports a ...