Restaurant Brands International Inc.
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of Restaurant Brands International Inc. (QSR). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Tim Hortons brand | $2.81B 56.6% | $3.33B 58.0% · +18.5% | $3.80B 58.4% · +14.1% | $3.97B 56.6% · +4.5% | $4.04B 48.1% · +1.7% | $4.25B 45.0% · +5.1% |
| RH | – | – | – | – | $1.12B 13.3% | $1.84B 19.5% · +64.9% |
| Burger King brand | $1.60B 32.2% | $1.16B 20.1% · -27.8% | $1.20B 18.4% · +3.5% | $1.30B 18.5% · +8.4% | $1.33B 15.9% · +2.8% | $1.32B 14.0% · -1.3% |
| INTL segment | – | $688.0M 12.0% | $751.0M 11.5% · +9.2% | $874.0M 12.4% · +16.4% | $935.0M 11.1% · +7.0% | $1.00B 10.6% · +6.7% |
| Popeyes brand | $556.0M 11.2% | $559.0M 9.7% · +0.5% | $619.0M 9.5% · +10.7% | $692.0M 9.9% · +11.8% | $768.0M 9.1% · +11.0% | $800.0M 8.5% · +4.2% |
| Firehouse segment | $0 0.0% | $5.0M 0.1% | $138.0M 2.1% · +2,660.0% | $187.0M 2.7% · +35.5% | $214.0M 2.5% · +14.4% | $232.0M 2.5% · +8.4% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Revenue by region
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| United States | $1.89B 38.0% | $2.00B 34.9% · +6.0% | $2.27B 34.9% · +13.3% | $2.52B 35.9% · +10.9% | $3.78B 45.0% · +50.2% | $4.56B 48.3% · +20.5% |
| Canadian | $2.55B 51.2% | $3.05B 53.1% · +19.7% | $3.48B 53.6% · +14.3% | $3.63B 51.7% · +4.2% | $3.68B 43.8% · +1.5% | $3.85B 40.8% · +4.4% |
| Other | $533.0M 10.7% | $688.0M 12.0% · +29.1% | $751.0M 11.5% · +9.2% | $874.0M 12.4% · +16.4% | $939.0M 11.2% · +7.4% | $1.03B 10.9% · +9.8% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 7, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.