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Restaurant Brands International, the operator of Tim Hortons, Burger King and Popeyes, has reported a 5.8% rise in consolidated group-wide sales for the fourth quarter ended 31 December 2025, bringing its full-year growth to 5.3%.
The group’s performance was led by its international segment, which recorded a 6.1% quarterly rise in comparable sales. This outperformed home markets in the US and Canada.
According to chief executive Josh Kobza, the group experienced positive performance across Western Europe and the UK as it prioritises international development as part of its long-term strategy.
As a result, RBI met its annual targets for organic adjusted operating income. It also returned approximately $1.1bn (£810m) to shareholders during the year.
Tim Hortons Canada saw a 2.8% increase in comparable sales, while Burger King US grew 2.6%. The burger chain is currently executing a $700m (£513m) ‘Reclaim the Flame’ plan.
Total revenues rose $106m (£77.6m) to $2.4bn (£1.7bn) in the final quarter, excluding currency impacts, as growth was supported by higher supply chain sales and increased royalties from global franchised outlets.
The company recently reorganised its China operations, completing a joint venture in January 2026. This move resulted in a $114m (£83.5m) non-cash charge for the 2025 period.
Adjusted operating income for the full year rose 8% on a constant currency basis to $2.5bn (£1.8bn), as reduced compensation expenses helped offset higher commodity costs, particularly for beef.
Net restaurant growth reached 2.9% for the year, and management said it expects this to accelerate to 5% by the end of its current five-year financial algorithm in 2028.
For 2026, the company projects interest expenses between $500m (£366m) and $520m (£381m). However, it maintains a long-term target of 8% plus organic adjusted operating income growth.
Kobza said: “Our performance in 2025 reflects the progress we’ve made strengthening our brands and our system, driven by consistent execution from our teams and franchisees. By staying focused on the fundamentals, we delivered our third consecutive year of roughly 8% organic Adjusted Operating Income growth.
“As we enter 2026, I’m encouraged by the stronger, more focused foundation we’ve built for the long term.”
