What was the total property revenues for Burger King in 2022?
Burger_King Franchise · 2025 FDDAnswer from 2025 FDD Document
| As of December 31, | |||
|---|---|---|---|
| 2024 | 2023 | ||
| ASSETS | |||
| Current assets: | |||
| Cash and cash equivalents | $ | 1,334 | $ 1,139 |
| Accounts and notes receivable, net of allowance of $57 and $37, respectively | 698 | 749 | |
| Inventories, net | 142 | 166 | |
| Prepaids and other current assets | 108 | 119 | |
| Total current assets | 2,282 | 2,173 | |
| Property and equipment, net of accumulated depreciation and amortization of $1,087 and $1,187, | 2,236 | 1,952 | |
| respectively | |||
| Operating lease assets, net | 1,852 | 1,122 | |
| Intangible assets, net | 10,922 | 11,107 | |
| Goodwill | 5,986 | 5,775 | |
| Other assets, net | 1,354 | 1,262 | |
| Total assets | $ | 24,632 | $ 23,391 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||
| Current liabilities: | |||
| Accounts and drafts payable | $ | 765 | $ 790 |
| Other accrued liabilities | 1,141 | 1,005 | |
| Gift card liability | 236 | 248 | |
| Current portion of long-term debt and finance leases | 222 | 101 | |
| Total current liabilities | 2,364 | 2,144 | |
| Long-term debt, net of current portion | 13,455 | 12,854 | |
| Finance leases, net of current portion | 286 | 312 | |
| Operating lease liabilities, net of current portion | 1,770 | 1,059 | |
| Other liabilities, net | 706 | 996 | |
| Deferred income taxes, net | 1,208 | 1,296 | |
| Total liabilities | 19,789 | 18,661 | |
| Commitments and contingencies (Note 17) |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 109–124)
What This Means (2025 FDD)
According to Burger King's 2025 Franchise Disclosure Document, the total franchise and property revenues for 2022 were $2,661 million. This figure represents the combined income Burger King receives from its franchise operations and property holdings. Franchise revenues typically include royalties, initial franchise fees, and other payments from franchisees, while property revenues may come from leasing or subleasing properties to franchisees or other entities.
For a prospective franchisee, understanding the breakdown of Burger King's revenue streams can provide insights into the financial health and stability of the brand. The franchise and property revenues reflect the strength of the franchise network and the value of Burger King's real estate assets. A consistent or growing trend in these revenues may indicate a healthy and expanding franchise system, which can be an attractive factor for potential investors.
It's important to note that this figure is part of the overall revenue picture for Burger King, which also includes supply chain sales, company restaurant sales, and advertising revenues. When evaluating the franchise opportunity, prospective franchisees should consider all revenue streams and associated costs to gain a comprehensive understanding of the financial dynamics of the Burger King system.