Overview Financials News + Filings Key Docs Charts Holdings Ownership Insiders
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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Tim Hortons | 3,823.0 | 2,249.0 | 2,810.0 | 3,344.0 | | 3,155.0 | 3,001.0 | 2,956.9 |
| Burger King | 1,897.0 | 457.0 | 1,602.0 | 1,777.0 | | 1,219.0 | 1,145.0 | 1,095.3 |
| Popeyes | | | | | | 202.0 | | |
| Other | 785.0 | 3,033.0 | 556.0 | 482.0 | | | | |
| Total revenues | 6,505.0 | 5,739.0 | 4,968.0 | 5,603.0 | 5,357.0 | 4,576.0 | 4,146.0 | 4,052.2 |
| Revenue growth [+] | 13.3% | 15.5% | -11.3% | 4.6% | 17.1% | 10.4% | 2.3% | 238.0% |
| Tim Hortons | 70.0% | -20.0% | -16.0% | | | 5.1% | 1.5% | 1959.1% |
| Burger King | 315.1% | -71.5% | -9.8% | | | 6.5% | 4.5% | 3.8% |
| Unit growth | 4.3% | 9.0% | -0.2% | 5.2% | 5.5% | | | 4.2% |
| Cost of goods sold | 2,312.0 | 1,890.0 | 1,610.0 | 1,813.0 | 1,818.0 | 1,850.0 | 1,727.0 | 1,809.5 |
| Gross profit | 4,193.0 | 3,849.0 | 3,358.0 | 3,790.0 | 3,539.0 | 2,726.0 | 2,419.0 | 2,242.7 |
| Gross margin | 64.5% | 67.1% | 67.6% | 67.6% | 66.1% | 59.6% | 58.3% | 55.3% |
| Selling, general and administrative [+] | 631.0 | 484.0 | 407.0 | 1,271.0 | 1,214.0 | 416.0 | 319.0 | 437.7 |
| Sales and marketing | | | | 865.0 | | | | |
| General and administrative | 631.0 | 484.0 | 407.0 | 406.0 | | | | |
| Equity in earnings | 44.0 | 4.0 | 39.0 | -11.0 | -22.0 | -12.0 | -20.0 | 4.1 |
| Other operating expenses | 1,668.0 | 1,488.0 | 1,535.0 | 519.0 | 427.0 | 604.0 | 451.0 | 634.8 |
| EBITDA [+] | 2,128.0 | 2,082.0 | 1,644.0 | 2,174.0 | 2,078.0 | 1,888.0 | 1,821.0 | 1,352.2 |
| EBITDA growth | 2.2% | 26.6% | -24.4% | 4.6% | 10.1% | 3.7% | 34.7% | 502.3% |
| EBITDA margin | 32.7% | 36.3% | 33.1% | 38.8% | 38.8% | 41.3% | 43.9% | 33.4% |
| Depreciation | 151.0 | 160.0 | 146.0 | 141.0 | 110.0 | 110.0 | 100.0 | 103.7 |
| EBITA | 1,977.0 | 1,922.0 | 1,498.0 | 2,033.0 | 1,968.0 | 1,778.0 | 1,721.0 | 1,248.5 |
| EBITA margin | 30.4% | 33.5% | 30.2% | 36.3% | 36.7% | 38.9% | 41.5% | 30.8% |
| Amortization of intangibles | 39.0 | 41.0 | 43.0 | 44.0 | 70.0 | 72.0 | 72.0 | 78.3 |
| EBIT [+] | 1,938.0 | 1,881.0 | 1,455.0 | 1,989.0 | 1,898.0 | 1,706.0 | 1,649.0 | 1,170.2 |
| EBIT growth | 3.0% | 29.3% | -26.8% | 4.8% | 11.3% | 3.5% | 40.9% | 651.6% |
| EBIT margin | 29.8% | 32.8% | 29.3% | 35.5% | 35.4% | 37.3% | 39.8% | 28.9% |
| Non-recurring items [+] | -4.0 | -2.0 | -6.0 | -7.0 | -19.0 | -29.0 | -18.0 | -22.0 |
| Asset impairment | -4.0 | -2.0 | -6.0 | -7.0 | -19.0 | -29.0 | -18.0 | -22.0 |
| Interest expense, net [+] | 526.0 | 502.0 | 499.0 | 512.0 | 8.0 | -5.0 | 16.0 | 16.6 |
| Interest expense | 533.0 | 505.0 | 508.0 | 532.0 | 23.0 | 21.0 | 20.0 | 20.8 |
| Interest income | 7.0 | 3.0 | 9.0 | 20.0 | 15.0 | 26.0 | 4.0 | 4.2 |
| Other income (expense), net [+] | -51.0 | -18.0 | -146.0 | -32.0 | -527.0 | -639.0 | -451.0 | -501.7 |
| Gain (loss) on debt retirement | | -11.0 | -98.0 | -23.0 | | -122.0 | | -40.0 |
| Pre-tax income | 1,365.0 | 1,363.0 | 816.0 | 1,452.0 | 1,382.0 | 1,101.0 | 1,200.0 | 673.9 |
| Income taxes | -117.0 | 276.0 | 66.0 | 341.0 | 575.0 | -278.0 | 244.0 | 162.2 |
| Tax rate | | 20.2% | 8.1% | 23.5% | 41.6% | | 20.3% | 24.1% |
| Minority interest | 474.0 | 415.0 | 264.0 | 468.0 | 532.0 | 587.0 | 340.0 | 136.6 |
| Net income | 1,008.0 | 838.0 | 486.0 | 643.0 | 612.0 | 626.0 | 346.0 | 103.9 |
| Net margin | 15.5% | 14.6% | 9.8% | 11.5% | 11.4% | 13.7% | 8.3% | 2.6% |
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| Basic EPS [+] | $3.28 | $2.70 | $1.61 | $2.40 | $2.46 | $2.64 | $1.48 | $0.51 |
| Growth | 21.5% | 68.0% | -32.9% | -2.4% | -6.9% | 77.9% | 190.8% | -144.0% |
| Diluted EPS [+] | $2.22 | $1.81 | $1.04 | $1.37 | $1.29 | $1.31 | $1.47 | $0.22 |
| Growth | 22.7% | 73.9% | -24.3% | 6.0% | -1.4% | -10.9% | 574.5% | -119.6% |
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| Dividends per share [+] | $2.16 | $2.12 | $2.08 | $2.00 | $1.80 | $0.78 | $0.62 | $0.44 |
| Growth | 1.9% | 1.9% | 4.0% | 11.1% | 130.8% | 25.8% | 40.9% | 46.7% |
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| Shares outstanding (basic) [+] | 307.0 | 310.0 | 302.0 | 268.0 | 249.0 | 237.0 | 233.0 | 203.5 |
| Growth | -1.0% | 2.6% | 12.7% | 7.6% | 5.1% | 1.7% | 14.5% | -40.8% |
| Shares outstanding (diluted) [+] | 455.0 | 464.0 | 468.0 | 469.0 | 473.0 | 477.0 | 235.0 | 476.0 |
| Growth | -1.9% | -0.9% | -0.2% | -0.8% | -0.8% | 103.0% | -50.6% | 32.9% |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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