20 World’s Largest Restaurant Companies

Thursday, December 5, 2024

20 World’s Largest Restaurant Companies

20 World’s Largest Restaurant Companies in 2023-- Based on the annual report of each restaurant company in 2023, there are 20 World’s Largest Restaurant Companies. This restaurant has thousands of chain restaurants across the world with popular diversified products of food and beverage. Furthermore, with positive brand awareness in people's mind, these restaurant companies have generated total revenue of billions of US dollars (USD).

Commonly, every person needs food, and some restaurants can provide delicious food. As we know, there are many established restaurants in the world but just a few of them have grown into distinguished restaurants which have opened many branch offices in several countries. In the year 2023, there are 20 world’s largest restaurant chains. In this article, we ranked based on some indicators, namely net income, and total assets. Furthermore, we just analysed the public company whose majority shares are owned by the public because we can access the annual report and analyse its financial statements.

The ranked restaurant companies based on net income in 2023. All the net income data of each company can be found in the income statement, in Annual Report. Functionally, net income is the final income accepted by the company after the deduction of tax, cost, and the other expenditure. Finally, here is the rank of 20 World’s Largest Restaurant Companies based on Net Income in 2023.

Table Rank of 20 World’s Largest Restaurant Companies Based on Net Income in 2023

Rank	Name of Company	Total Revenue	Total Revenue	Net Income	Net Income
Rank	Name of Company	In Origin Currency	in US Dollar	in Origin Currency	in US Dollar
1	McDonald's Corporation	USD 25.4 billion	USD 25.4 billion	USD 8.4 billion	USD 8.4 billion
2	Starbucks Corporation	USD 35.9 billion	USD 35.9 billion	USD 4.1 billion	USD 4.1 billion
3	Yum! Brands, Inc	USD 7 billion	USD 7 billion	USD 1.59 billion	USD 1.59 billion
4	Chipotle Mexican Grill, Inc	USD 9.8 billion	USD 9.8 billion	USD 1.2 billion	USD 1.2 billion
5	Restaurant Brands International, Inc	USD 7 billion	USD 7 billion	USD 1.1 billion	USD 1.1 billion
6	Darden Restaurants, Inc	USD 11.3 billion	USD 11.3 billion	USD 1 billion	USD 1 billion
7	Yum China Holdings, Inc	USD 10.9 billion	USD 10.9 billion	USD 0.82 billion	USD 0.82 billion
8	Domino's Pizza	USD 4.4 billion	USD 4.4 billion	USD 0.51 billion	USD 0.51 billion
9	Texas Roadhouse	USD 4.6 billion	USD 4.6 billion	USD 0.31 billion	USD 0.31 billion
10	Bloomin’ Brands, Inc	USD 4.6 billion	USD 4.6 billion	USD 0.254 million	USD 0.254 billion
11	Wendy's	USD 2.1 billion	USD 2.1 billion	USD 0.2 billion	USD 0.2 billion
12	Zensho	JPY 965 billion	USD 6.3 billion	JPY 30.6 billion	USD 0.2 billion
13	McDonald's Japan	JPY 381 billion	USD 2.5 billion	JPY 25.1 billion	USD 0.16 billion
14	Jollibee Foods Corporation	PHP 226 billion	USD 3.8 billion	PHP 8.9 billion	USD 0.15 billion
15	CheeseCake Factory	USD 3.4 billion	USD 3.4 billion	USD 0.1 billion	USD 0.1 billion
16	Papa John's	USD 2.1 billion	USD 2.1 billion	USD 0.082 billion	USD 0.082 billion
17	Wingstop	USD 0.46 billion	USD 0.46 billion	USD 0.070 billion	USD 0.070 billion
18	Haidilao	USD 0.68 billion	USD 0.68 billion	USD 0.025 billion	USD 0.025 billion
19	Cava Group	USD 0.72 billion	USD 0.72 billion	USD 0.013 billion	USD 0.013 billion
20	Devyani International	INR 35.8 billion	USD 429 billion	(INR -96 million)	(USD -0.001 billion)
21	Jack in the Box	USD 1.5 billion	USD 1.5 billion	(USD - 0.036 billion)	(USD - 0.036 billion)
22	Krispy Kreme	USD 1.6 billion	USD 1.6 billion	(USD -0.037 billion)	(USD -0.037 billion)
Source: Annual Report, 2023
Origin Currency: Currency which officially used in Annual Report of 2023
US Dollar: Converted Currency from Origin Currency to US Dollar Based on Currency Rates below
Currency Rates:
	1 Japanese Yen (JPY) = 0.0066 US Dollar (USD)
	1 Philippines Peso (PHP) = 0.017 US Dollar (USD)
	1 Indian Rupee (INR) = 0.012 US Dollar (USD)

As additional data, we also ranked the restaurant chain companies based on total assets. Commonly, these data, total assets, were obtained from the Balance Sheet of the company in Annual report 2023. Here is Table Rank of 20 World’s Largest Restaurant Companies based on total assets in 2022.

Table Rank of 20 World’s Largest Restaurant Companies Based on Total Assets in 2023

Rank	Name of Company	Total Assets	Total Assets	Total Liabilities	Total Liabilities
Rank	Name of Company	Origin Currency	in US Dollar	Origin Currency	in US Dollar
1	McDonald's Corporation	USD 56.1 billion	USD 56.1 billion	USD 60.8 billion	USD 60.8 billion
2	Starbucks Corporation	USD 29.4 billion	USD 29.4 billion	USD 37.4 billion	USD 37.4 billion
3	Restaurant Brands International, Inc	USD 23.3 billion	USD 23.3 billion	USD 18.6 billion	USD 18.6 billion
4	Yum China Holdings, Inc	USD 12 billion	USD 12 billion	USD 4.9 billion	USD 4.9 billion
5	Darden Restaurants, Inc	USD 11.3 billion	USD 11.3 billion	USD 9 billion	USD 9 billion
6	Chipotle Mexican Grill, Inc	USD 8 billion	USD 8 billion	USD 4.9 Billion	USD 4.9 Billion
7	Yum! Brands, Inc	USD 6.2 billion	USD 6.2 billion	USD 14 billion	USD 14 billion
8	Wendy's	USD 5.1 billion	USD 5.1 billion	USD 4.8 billion	USD 4.8 billion
9	Zensho	JPY 748 billion	USD 4.9 billion	JPY 272 billion	USD 1.7 billion
10	Jollibee Foods Corporation	PHP 244 billion	USD 4.1 billion	PHP 157 billion	USD 2.6 billion
11	Bloomin' Brands, Inc.	USD 3.4 billion	USD 3.4 billion	USD 3.0 billion	USD 3.0 billion
12	Krispy Kreme	USD 3.2 billion	USD 3.2 billion	USD 1.9 billion	USD 1.9 billion
13	CheeseCake Factory	USD 2.8 billion	USD 2.8 billion	USD 2.5 billion	USD 2.5 billion
14	Texas Roadhouse	USD 2.7 billion	USD 2.7 billion	USD 1.6 billion	USD 1.6 billion
15	Jack in the Box	USD 2.7 billion	USD 2.7 billion	USD 3.5 billion	USD 3.5 billion
16	McDonald's Japan	JPY 311 billion	USD 2 billion	JPY 85 billion	USD 0.5 billion
17	Domino's Pizza	USD 1.6 billion	USD 1.6 billion	USD 5.7 billion	USD 5.7 billion
18	Cava Group	USD 0.983 billion	USD 0.983 billion	USD 0.412 billion	USD 0.412 billion
19	Papa John's	USD 0.87 billion	USD 0.87 billion	USD 1.3 billion	USD 1.3 billion
20	Devyani International	INR 49.3 billion	USD 0.59 billion	INR 35.9 billion	USD 0.43 billion
21	Haidilao	USD 0.567 billion	USD 0.567 billion	USD 0.304 billion	USD 0.304 billion
22	Wingstop	USD 0.377 billion	USD 0.377 billion	USD 0.835 billion	USD 0.835 billion
Source: Annual Report, 2023
Origin Currency: Currency which officially used in Annual Report of 2023
US Dollar: Converted Currency from Origin Currency to US Dollar Based on Currency Rates below
Currency Rates:
	1 Japanese Yen (JPY) = 0.0066 US Dollar (USD)
	1 Philippines Peso (PHP) = 0.017 US Dollar (USD)
	1 Indian Rupee (INR) = 0.012 US Dollar (USD)

Brief Description of 20 World’s Largest Restaurant Companies in 2023

1.McDonald's Corp

McDonald become one of the most popular restaurant companies in the world by 2023. McDonald’s corporation is an American Fast-Food Restaurant that was founded in 1940. Historically, Richard and Maurice McDonald founded this company. Along with the development of the company's business, this company has thousands of restaurants across the world. Because of the diversified menu all over the world, the McDonald's restaurants have served many local menus in different countries. Operationally, as of 2023, McDonald's restaurants have operated in more than 100 countries and there are 41,822 of total McDonald's restaurants across the nations.

The Financial Condition of McDonald's Corporation in 2023

Based on the products, McDonald’s menu served some menus including hamburgers and cheeseburgers, Big Mac, Quarter Pounder with Cheese, Filet-O-Fish, several chicken sandwiches, Chicken McNuggets, wraps, McDonald's Fries, salads, oatmeal, shakes, McFlurry desserts and the others. Maybe some of us have ever tasted the menus. Statistically in 2023, the McDonald’s Corporation generated revenue of USD 25.4 billion and successfully gained net income reaching USD 8.4 billion.

2.Starbucks Corporation

Starbucks is also one of the most popular restaurants in the world. Operationally, Starbucks is the global premier roaster, marketer, and retailer of specialty coffee in the world that has opened in eighty-three markets. Formed in 1985, this company has developed into a global company with thousands of stores across the world. As of 2023, In the U.S., Starbucks employed approximately 228,000 people, with approximately 219,000 in company-operated stores. Meanwhile, outside of the USA, there are approximately 153,000 employees and approximately 148,000 in company-operated stores. Based on the annual report in 2023, the Starbucks corporation generated revenue of USD 35.9 billion with successfully gaining net income of USD 4.1 billion.

3.Restaurant Brands International, Inc

Restaurant Brands International Inc is a Canadian restaurant corporation that has multiple famous restaurants, namely Tim Hortons, Burger King, Firehouse Subs, and Popeyes. As of December 31st, 2023, this company has approximately 31,070 restaurants in more than one hundred countries. Specifically, Tim Hortons has 5,833 number of restaurants globally, Burger King with 19,384 of restaurants, Popeyes with 4,571 number of restaurants, and Firehouse Subs with 1,282 of restaurants. Financially, according to its annual report in 2023, Restaurant Brand International, Inc. generated revenue of USD 7 billion with a net income of USD 1.1 billion.

4.Yum China Holdings, Inc

Yum China Holdings, Inc is the leader in China's restaurant industry. Operationally, this company manages some international brands. Some of them are KFC, Pizza Hut, as well as brands such as East Dawning, Little Sheep, Huang Ji Huang, Taco Bell, and COFFii & JOY. Operationally, Yum China Holdings managed 14,644 restaurants in China as of December 31, 2023. Specifically, there were 10,296 KFC restaurants in more than 2,000 cities across China, 3,312 Pizza Hut restaurants in over 700 cities across China, 120 Taco Bell outlets in China, 122 Lavazza coffee shops in China, 631 units of Huang JiHuang in China and internationally, and 163 units of Little Sheep outlets in China and international markets. Financially in 2023, according to its annual report, Yum China Holding, Inc generated revenue of USD 10.9 billion with net income reaching USD 0.82 billion.

5.Darden Restaurants Inc

Darden Restaurant is an American restaurant that has head office in Orlando, Florida, USA. Along with business development, this restaurant company manages some restaurant brands, namely Olive Garden, Longhorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, and Eddie V’s. Overall, as of 2023, this company owns and operates more than 2,181 restaurants and employs 190,000 team members who can serve more than 400 million guests annually. Specifically, there are many restaurants owned by Darden, namely 967 outlets of Olive Garden, 594 outlets of LongHorn Steakhouse, 184 outlets of Cheddar's Scratch Kitchen, 88 outlets of Yard House, 158 outlets of Ruth's Chris, 68 outlets of The Capital Grille, 44 outlets of Season 52, 44 outlets of Bahama Breeze, 30 outlets of Eddie V's and 3 outlets of The Capital Burger. Financially, in 2023, Darden restaurant performed positive results with revenue of USD 11.3 billion and successfully gained net income of USD 1 billion.

6.Chipotle Mexican Grill, Inc

Chipotle Mexican Grill, Inc is an American based restaurant that has head office in Newport Beach, California. Operationally, this company owns and operates Chipotle Mexican Grill restaurants, which feature a relevant menu of burritos, burrito bowls (a burrito without the tortilla), tacos, and salads. As of 2023, there are 3,371 Chipotle restaurants throughout the United States and 66 international Chipotle restaurants. In 2023, financially, Chipotle Mexican generated revenue of USD 9.8 billion and generated net income of USD 1.2 billion.

7.Yum! Brands, Inc

Yum! Brands, Inc. is multinational restaurant company which has head office in Louisville, Kentucky, USA. Operationally, this company manages restaurant brands, namely KFC, Pizza hut, Taco Bell, The Habit Burger Grill. As the world’s largest restaurant company in 2023, Yum! Brands manages 1,500 franchisees who are operating 58,000 restaurants in over 155 countries. Financially, in 2023, Yum! Brands, Inc generated revenue of USD 7 billion and net income reached USD 1.5 billion.

8.Zensho

Zensho is one of the world’s leading restaurant companies from Japan established in 1982. Operationally, Zensho has its head office in Minato-ku, Tokyo. Based on business, Zensho has managed some restaurants including Sukiya, Nakau, Coco's, Big Boy, Victoria Station, Jolly Pasta, El Torito, Hama-sushi, Hanaya Yohei, Denmaru, Kyubeiya, Seto Udon, Tamon'an, Moriva Coffee, Cafe Milano, Katsuan, Olive Hill, and Lotteria. Financially, in 2023, Zensho generated 1.9 billion Euro or equivalent to total revenue of JPY 965 billion or equivalent to USD 6.3 billion and successfully gained net income of JPY 30.6 billion or equivalent to USD 0.2 billion.

9.Wendy's

The Wendy’s Company Is the parent company of Wendy's Restaurant, LLC. Historically, Wendy’s opened its first restaurant in Columbus, Ohio in 1969. Dave Thomas has a significant role as founder of this restaurant. During 2023, along with development of business, The Wendy's has 7,240 globally. Specifically, 6,030 Wendy’s restaurants have operations in the U.S. and 1,210 Wendy’s restaurants have operations in foreign countries outside of the U.S. Financially, in 2023, Wendy’s generates total revenue USD 2.1 billion and successfully reaping the net income of around USD 0.2 billion.

10.Haidilao

Haidilao International Holding Ltd. is a Chinese-based restaurant that was founded on March 20th, 1994, by Zhang Yong. Along with development of business, the company has employed around sixty thousand. As of 2023, this restaurant became one of the largest hotpot chains in China serving 26.7 million customers. Financially, in 2023, Haidilao generated revenue of USD 0.68 billion and net income reaching USD 0.025 billion.

11.Jollibee Foods Corporation

Jollibee Foods Corporation (JFC) or commonly known as Jollibee is Filipino Multinational restaurant that was founded in January 1978 by Tony Tan Caktiong and his family. Operationally, this restaurant company has head office in Jollibee Plaza Building, Emerald Ave., Ortigas Canter, Pasig, Philippines. Along with business development, Jollibee has managed over 9,500 stores in 32 countries. Financially, in 2023, Jollibee Food Corporation generated revenue of PHP 226 billion or equivalent to USD 3.8 billion but suffered net loss of PHP 8.9 billion or equivalent to USD 0.15 billion.

12. Bloomin' Brands, Inc.

Bloomin' Brands, Inc. is an American restaurant that has head office in Tampa, Florida, U.S. Historically, the company was founded in August 1988 by Tim Gannon, Bob Basham, and Chris Sullivan. Along the progress of the company's business, the number of chain restaurants reached 1,189 restaurants and franchised 291 restaurants across 47 states and 13 countries. Furthermore, total employees of the company reached ninety-three thousand people. To date, Bloomin' Brands owned and managed some of the restaurants including Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, and Fleming’s Prime Steakhouse & Wine Bar. Financially, in 2023, this company generated revenue of 4.6 billion US Dollar and successfully gained net income of USD 0.254 million.

13.CheeseCake Factory

The Cheesecake Factory Incorporated currently own and operate 294 restaurants throughout the United States and Canada under brands "The Cheesecake Factory". Historically, the journey of this restaurant started in 1972 when Oscar and Evelyn Overton founded a small bakery in the Los Angeles area. In 1978, their son, David Overton led the creation and opening of the first The Cheesecake Factory restaurant in Beverly Hills, California. To Date, Cheesecake Factory manages 334 restaurants throughout the United States and Canada under brands including The Cheesecake Factory (216 locations), North Italia (37 locations), Flower Child (32 locations) and additional brands within Fox Restaurant Concepts (“FRC”) portfolio (41 locations). Financially, in 2023, Cheesecake generated revenue of USD 3.4 billion and successfully gained net income of USD 0.1 billion.

14.Texas Roadhouse

Texas Roadhouse is an American steakhouse that has head office in Louisville, Kentucky, U.S. Historically, W. Kent Taylor, started the business in 1993 with the opening of the first Texas Roadhouse restaurant in Clarksville, Indiana. Along with business development, this company has 635 branches of this steakhouse across the country. Financially, in 2023, Texas Roadhouse can generate total revenue of USD 4.6 billion and net income reaching USD 0.31 billion.

15.Jack in the Box

Jack in the Box Inc. is an American based restaurant in San Diego, California. This company operates and franchises Jack in the Box. Historically, this business started in 1951 and has since become one of the nation’s largest hamburger chains. To date, Jack and the Box c Inc manages Jack in the Box restaurants with a total of 2,200 outlets across 22 states, and Del Taco® restaurants with a total of 600 outlets across 17 states. Based on the company's brand, Jack in the Box restaurants have distinctive products including classic burgers like our Jumbo Jack and innovative product lines such as Buttery Jack burgers. Financially, in 2023, The Jack in the Box generated revenue of USD 1.5 billion but suffered net loss reaching USD - 0.036 billion.

16.Domino’s Pizza

Domino’s Pizza is the largest pizza company in the world based on global retail sales, with more than 20,500 locations in over 90 markets around the world as of December 2023. Historically, this company was founded in 1960. Financially, in 2023, according to its annual report, Domino’s Pizza generated revenue of USD 4.4 billion and successfully reaping net income of USD 0.51 billion.

17.Papa John's

Papa John's International, Inc or commonly known as Papa John is American Pizza company that has head office in Atlanta, Georgia. Historically, this company was founded in 1984 by John Schnatter. As of 2023, along with business development, there were 5,906 Papa John’s restaurants, consisting of 648 Company-owned and 5,258 franchised restaurants operating in 50 countries. Financially, in 2023, Papa John’s is generating revenue of USD 2.1 billion and net income reaching USD 0.082 billion.

18.Devyani

Devyani International is the biggest restaurant from India founded in 1991. In India, Devyani manages the franchisee of Yum Brands. Specifically, in India, Devyani managed KFC, Costa Coffee, and Pizza Hut across India. In this country, Devyani is among the largest operators of fast-food restaurants chain in India which operates 1,692 stores across 253 cities in India. Financially, in 2023, Devyani generated total revenue INR 35.8 billion or equivalent to USD 429 billion but suffered net loss reaching INR -96 million or equivalent to USD -0.001 billion.

19.Wingstop

Wingstop is the largest chicken wings-focused restaurant chain in the world, with over 1,500 locations worldwide. Historically, the journey of Wingstop began in 1995 when the first restaurant was opened in Texas, USA. Financially, in 2020, Wingstop generates revenue of USD 0.46 billion and net income reaching USD 0.025 billion.

20.McDonald's Japan

McDonald Japan began the business in May 197 with the name of Japan McDonald's Holdings Co., Ltd. The first restaurant was opened in Ginza, Tokyo in 1971. Along with business development, as of December 31st, 2023, the company has 2,194 employees. Financially, in 2023, McDonald’ s Japan can generate revenue of JPY 381 billion or equivalent to USD 2.5 billion and net income reach JPY 25.1 billion or equivalent to USD 0.16 billion.

21. Krispy Kreme

Krispy Kreme was founded by Vernon Rudolph in 1937. To date, Krispy Kreme is one of the most beloved and well-known sweet treat brands popular with the iconic Original Glazed doughnut. To date, Krispy Kreme has operated in 39 countries. Based on the annual report of 2023, Krispy Kreme successfully gained total revenue of USD 1.6 billion but suffered a net loss of USD -0.037 billion.

22. Cava Group

Historically, CAVA Group was formed in 2015. To date, along with business development, there are 309 CAVA restaurants in 24 states and Washington, D.C. Financially, in 2023, according to the annual report of 2023, Cava Group successfully gained total revenue of USD 0.72 billion and net income of USD 0.013 billion.

The Summary of 20 World’s Largest Restaurant Companies Based on Total Assets in 2023

The Summary of 20 World’s Largest Restaurant Companies Based on Net Income in 2023

Bibliography of 20 World’s Largest Restaurant Companies in 2023

McDonald's Corp. 2024. Annual Report 2023. Accessed via https://corporate.mcdonalds.com/corpmcd/investors/financial-information.html on December 2^nd , 2024.

Starbuck Corp. 2024. Annual Report 2023. Accessed via https://investor.starbucks.com/financial-data/annual-reports/default.aspx on December 2^nd , 2024.

Yum! Brands, Inc. 2024. Annual Report 2023. Accessed via https://investors.yum.com/financial-information/annual-reports/ on December 2^nd , 2024.

Yum China Holding, Inc. 2024. Annual Report 2023. Accessed via https://ir.yumchina.com/annual-reports/ on December 2^nd, 2024.

Domino Pizza. 2024. Annual Report 2023. Accessed via https://ir.dominos.com/financial-information/annual-reports on December 2^nd , 2024.

Restaurant Brands International, Inc. 2024. Annual Report 2023. Accessed via https://www.rbi.com/English/investors/annual-reports/default.aspx on December 2^nd , 2024.

Chipotle Mexican Grill, Inc. 2024. Annual Report 2023. Accessed via https://ir.chipotle.com/annual-reports on December 2^nd, 2024.

McDonald's Japan. 2024. Annual Report 2023. Accessed via https://www.mcdonalds.co.jp/company/outline/kessan/ on December 2^nd , 2024.

Wendy's. 2024. Annual Report 2023. Accessed via https://www.irwendys.com/financials/annual-report-and-proxy/default.aspx on December 2^nd , 2024.

Jack in the Box. 2024. Annual Report 2023. Accessed via https://investors.jackinthebox.com/financials/quarterly-results/default.aspx on December 2^nd , 2024.

Papa John's. 2024. Annual Report 2023. Accessed via https://ir.papajohns.com/financial-information on December 2^nd, 2024.

Haidilao. 2024. Annual Report 2023. Accessed via https://www.wsj.com/market-data/quotes/HK/6862/financials on December 2^nd , 2024.

Texas Roadhouse. 2024. Annual Report 2023. Accessed via https://investor.texasroadhouse.com/financial-info/annual-reports/default.aspx on December 2^nd , 2024.

Wingstop. 2024. Annual Report 2023. Accessed via https://ir.wingstop.com/financials/annual-reports/default.aspx on December 2^nd , 2024.

Devyani. 2024. Annual Report 2023. Accessed via http://dil-rjcorp.com/dil/annual-reports/ on December 2^nd, 2024.

Darden Restaurants Inc. 2024. Annual Report 2023. Accessed via https://investor.darden.com/financials/annual-reports/default.aspx on December 2^nd , 2024.

Bloomin' Brands, Inc. 2024. Annual Report 2023. Accessed via https://investors.bloominbrands.com/financial-information/annual-reports on December 2^nd , 2024.

Jollibee Food Corporation. 2024. Annual Report 2023. via https://www.jollibee.com.ph/annual-report-glossy/ on December 2^nd, 2024.

CheeseCake. 2024. Annual Report 2023. Accessed via https://investors.thecheesecakefactory.com/financials/annual-reports/default.aspx on December 2^nd , 2024.

Krispy Kreme. 2024. Annual Report 2023. Accessed via https://investors.krispykreme.com/financials/sec-filings/default.aspx on December 2nd, 2024.

Cava Group. 2024. Annual Report 2023. Accessed via https://investor.cava.com/overview/default.aspx on December 2nd, 2024.

Zensho. Annual Report 2023. Accessed via https://www.zensho.co.jp/en/ir/ on December 2nd, 2024.

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