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QSR & Coffee

Dairy Queen

Parent: International Dairy Queen, Inc. (Berkshire Hathaway) · Subsidiary of public parent; franchised

Credit ratingNot rated
AAAAAABBBBBBCCCD

No verified agency rating.

Founded1940Source: Wikidata
EmployeesNot verifiedNo verified source
Locations4,1152026; source: Franchise Times Top 400, 2026
HeadquartersMinneapolis, Minnesota areaQSR & Coffee

New Initiatives

How the real estate strategy is changing: openings, closures, formats, remodels, relocations and refranchising.

  • Forty-two Dairy Queen restaurants closed in Texas.

    Source: Delish

Dairy Queen is a soft-serve and fast-food chain owned by Berkshire Hathaway and operated almost entirely by franchisees. Leases are usually guaranteed by franchisee entities rather than the parent.

Store count

4,115 as of 2026
-1.2%/yr annualized over 2 yrs (Dec 2024 to Dec 2026)
  1. 4,3392021
  2. 4,3072022
  3. 4,2542023
  4. 4,2122024
  5. 4,115Latest

U.S. restaurants. Counts as reported at each period end. Sources: QSR 50 2023 (2022 U.S. units, Circana ReCount); QSR 50 2024 (2023 U.S. units, company-submitted); QSR 50 2025 (2024 U.S. units, company-submitted); Franchise Times Top 400, 2026 and 1 earlier sources.

Ownership history

  1. 1998

    Acquired by Berkshire Hathaway Source: Wikipedia: Dairy Queen

SEC Filings

Filings by parent Berkshire Hathaway Inc.. Dairy Queen does not file on its own. All filings on EDGAR

PeriodFormFiledDocument
Fiscal year ended Dec. 31, 202510-KMar. 2, 2026View on sec.gov
Fiscal year ended Dec. 31, 202410-KFeb. 24, 2025View on sec.gov
Fiscal year ended Dec. 31, 202310-KFeb. 26, 2024View on sec.gov
Fiscal year ended Dec. 31, 202210-KFeb. 27, 2023View on sec.gov
Latest quarter, period ended June 30, 202610-QAug. 10, 2026View on sec.gov

Credit ratings

AgencyRatingOutlookAs ofSource
S&P GlobalUnavailableParent rating does not guarantee franchisee leasesNot verified
Moody’sUnavailableNot verifiedNot verified

Share prices, Yahoo Finance, as of Nov. 9, 2026. Bond index yields and spreads, ICE BofA US corporate and high yield indices, ICE Data Indices, LLC, via FRED, Federal Reserve Bank of St. Louis. 10-year yield, U.S. Department of the Treasury.

QSR & Coffee

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