Restaurant Brands International (RBI) reported FY 2025 total revenues of USD 9.43 billion and income from operations of USD 2.2 billion. Net income was USD 1.08 billion, including a net loss from discontinued operations of USD 126 million, while net income from continuing operations was USD 1.2 billion. Interest expense, net was USD 516 million, and cash provided by operating activities was USD 1.71 billion. RBI reported FY 2025 system-wide sales of USD 46.76 billion, with system-wide sales growth of 5.3% and comparable sales up 2.4%; net restaurant growth was 2.9%, ending the year with 33,041 restaurants. By segment in FY 2025, system-wide sales were Tim Hortons USD 7.57 billion, Burger King USD 11.58 billion, Popeyes USD 6.08 billion, Firehouse Subs USD 1.34 billion, and International USD 20.2 billion. Corporate updates included the February 2025 acquisition of the remaining equity interests in Burger King China for approximately USD 151 million in cash and the assumption of approximately USD 178 million of debt; RBI later agreed to a joint venture with CPE for Burger King China that closed on January 30, 2026, with CPE owning about 83% and RBI about 17%. RBI recorded a non-cash charge of USD 114 million in FY 2025 related to its Burger King China holdings, reported within net loss from discontinued operations. RBI also highlighted progress on Burger King’s “Reclaim the Flame” plan, noting USD 176 million funded toward “Royal Reset” investments as of December 31, 2025, and said it expects consolidated 2026 capital expenditures of around USD 400 million.

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