Restaurant Brands International annual operating margin
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Restaurant Brands International Operating Margin Growth & History (QSR)
Restaurant Brands International's operating margin was 23.34% for fiscal 2025.
View full Restaurant Brands International company overviewRestaurant Brands International annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 23.34% | −5.44 pp |
| 2024 | 2024-12-31 | 28.78% | −0.43 pp |
| 2023 | 2023-12-31 | 29.21% | +0.03 pp |
| 2022 | 2022-12-31 | 29.18% | −3.56 pp |
| 2021 | 2021-12-31 | 32.74% | +4.12 pp |
| 2020 | 2020-12-31 | 28.62% | −7.20 pp |
| 2019 | 2019-12-31 | 35.82% | +0.04 pp |
| 2018 | 2018-12-31 | 35.78% | −2.13 pp |
| 2017 | 2017-12-31 | 37.92% | −2.29 pp |
| 2016 | 2016-12-31 | 40.21% | +10.79 pp |
| 2015 | 2015-12-31 | 29.42% | +14.31 pp |
| 2014 | 2014-12-31 | 15.11% | −30.45 pp |
| 2013 | 2013-12-31 | 45.56% | +24.36 pp |
| 2012 | 2012-12-31 | 21.19% | — |
Restaurant Brands International quarterly operating margin
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Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 28.41% | +8.37 pp |
| Q1 2026 | 2026-03-31 | 26.77% | +6.14 pp |
| Q4 2025 | 2025-12-31 | 25.18% | −2.47 pp |
| Q3 2025 | 2025-09-30 | 27.07% | +1.89 pp |
| Q2 2025 | 2025-06-30 | 20.04% | −11.83 pp |
| Q1 2025 | 2025-03-31 | 20.63% | −10.66 pp |
| Q4 2024 | 2024-12-31 | 27.66% | +1.94 pp |
| Q3 2024 | 2024-09-30 | 25.19% | −6.50 pp |
| Q2 2024 | 2024-06-30 | 31.87% | +0.66 pp |
| Q1 2024 | 2024-03-31 | 31.28% | +3.17 pp |
| Q4 2023 | 2023-12-31 | 25.71% | +5.23 pp |
| Q3 2023 | 2023-09-30 | 31.68% | −0.82 pp |
| Q2 2023 | 2023-06-30 | 31.21% | −1.80 pp |
| Q1 2023 | 2023-03-31 | 28.11% | −2.90 pp |
| Q4 2022 | 2022-12-31 | 20.49% | −6.42 pp |
| Q3 2022 | 2022-09-30 | 32.50% | −3.15 pp |
| Q2 2022 | 2022-06-30 | 33.01% | −0.93 pp |
| Q1 2022 | 2022-03-31 | 31.01% | −4.07 pp |
| Q4 2021 | 2021-12-31 | 26.91% | −0.56 pp |
| Q3 2021 | 2021-09-30 | 35.65% | +4.46 pp |
| Q2 2021 | 2021-06-30 | 33.94% | +10.75 pp |
| Q1 2021 | 2021-03-31 | 35.08% | +3.32 pp |
| Q4 2020 | 2020-12-31 | 27.47% | −7.08 pp |
| Q3 2020 | 2020-09-30 | 31.19% | −7.97 pp |
| Q2 2020 | 2020-06-30 | 23.19% | −11.88 pp |
| Q1 2020 | 2020-03-31 | 31.76% | −2.53 pp |
| Q4 2019 | 2019-12-31 | 34.55% | −2.71 pp |
| Q3 2019 | 2019-09-30 | 39.16% | +4.40 pp |
| Q2 2019 | 2019-06-30 | 35.07% | −2.31 pp |
| Q1 2019 | 2019-03-31 | 34.28% | +0.71 pp |
| Q4 2018 | 2018-12-31 | 37.26% | −3.67 pp |
| Q3 2018 | 2018-09-30 | 34.76% | −4.89 pp |
| Q2 2018 | 2018-06-30 | 37.38% | +0.79 pp |
| Q1 2018 | 2018-03-31 | 33.57% | −0.03 pp |
| Q4 2017 | 2017-12-31 | 40.93% | −3.32 pp |
| Q3 2017 | 2017-09-30 | 39.66% | +0.57 pp |
| Q2 2017 | 2017-06-30 | 36.59% | −4.18 pp |
| Q1 2017 | 2017-03-31 | 33.60% | −2.39 pp |
| Q4 2016 | 2016-12-31 | 44.25% | +13.79 pp |
| Q3 2016 | 2016-09-30 | 39.09% | +5.36 pp |
| Q2 2016 | 2016-06-30 | 40.76% | +11.77 pp |
| Q1 2016 | 2016-03-31 | 35.99% | +11.98 pp |
| Q4 2015 | 2015-12-31 | 30.46% | +55.02 pp |
| Q3 2015 | 2015-09-30 | 33.74% | +33.41 pp |
| Q2 2015 | 2015-06-30 | 28.99% | −29.01 pp |
| Q1 2015 | 2015-03-31 | 24.01% | −30.49 pp |
| Q4 2014 | 2014-12-31 | −24.56% | — |
| Q3 2014 | 2014-09-30 | 0.32% | — |
| Q2 2014 | 2014-06-30 | 58.00% | — |
| Q1 2014 | 2014-03-31 | 54.50% | — |
Restaurant Brands International operating margin trends
Over the last five reported fiscal years, Restaurant Brands International's operating margin decreased from 28.62% to 23.34%, a change of −5.28 percentage points. The latest reported quarter, Q2 2026, shows 28.41%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Restaurant Brands International filings at SEC.gov ↗