Yum! Brands, Inc.

YUM · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997
Valuation
Market cap	$42,003	$37,440	$36,625	$36,079	$40,704	$31,823	$29,527	$26,945	$23,923	$23,243	$31,912	$23,350	$24,010	$21,455	$19,900	$16,927	$11,982	$10,341	$13,379	$11,536	$10,050	$9,684	$7,104	$5,132	$5,184	$3,486	$4,182	$5,218	$2,935
Enterprise value	$53,204	$49,019	$48,144	$48,373	$52,345	$42,738	$40,191	$36,725	$32,205	$37,121	$35,161	$26,173	$26,479	$23,720	$22,112	$19,182	$14,984	$13,728	$15,802	$13,483	$11,709	$11,310	$8,963	$7,420	$7,287	$5,777	$6,553	$8,629	$7,342
P/E (TTM) at period end	26.94×	25.20×	22.93×	27.23×	25.84×	35.20×	22.82×	17.47×	17.85×	14.15×	24.87×	22.22×	22.01×	13.43×	15.09×	14.62×	11.19×	10.73×	14.72×	14.00×	13.19×	13.09×	11.51×	8.80×	10.54×	8.44×	6.67×	11.73×	–
P/S (TTM) at period end	5.11×	4.96×	5.18×	5.27×	6.18×	5.63×	5.28×	4.74×	4.07×	3.66×	2.44×	1.76×	1.84×	1.57×	1.58×	1.49×	1.11×	0.91×	1.28×	1.21×	1.07×	1.07×	0.85×	0.66×	0.75×	0.49×	0.53×	0.62×	0.30×
P/B at period end	–	–	–	–	–	–	–	–	–	–	35.03×	15.09×	11.09×	9.96×	10.92×	10.74×	11.69×	–	11.75×	8.03×	6.94×	6.07×	6.34×	8.64×	49.84×	–	–	–	–
EV / EBITDA (TTM)	19.14×	19.01×	19.48×	20.73×	22.73×	25.92×	19.68×	15.09×	10.69×	18.63×	20.39×	14.19×	10.51×	8.02×	9.02×	8.13×	6.91×	6.62×	8.32×	7.74×	7.22×	7.06×	6.14×	5.40×	5.97×	4.75×	5.12×	7.28×	6.08×
EV / Sales (TTM)	6.48×	6.49×	6.80×	7.07×	7.95×	7.56×	7.18×	6.46×	5.48×	5.84×	2.68×	1.97×	2.02×	1.74×	1.75×	1.69×	1.38×	1.21×	1.52×	1.41×	1.25×	1.26×	1.07×	0.96×	1.05×	0.81×	0.84×	1.02×	0.76×
Returns
Return on equity	–	–	–	–	–	–	–	–	–	–	140.8%	67.9%	50.4%	74.1%	72.4%	73.5%	104.5%	–	79.8%	57.3%	52.6%	46.4%	55.1%	98.1%	473.1%	–	–	–	–
Return on invested capital	49.8%	46.7%	55.6%	51.0%	61.6%	44.0%	68.7%	103.8%	83.5%	45.7%	20.6%	24.5%	26.6%	38.9%	36.2%	34.1%	30.6%	34.8%	29.1%	27.6%	27.2%	25.4%	24.7%	23.5%	25.9%	25.6%	29.0%	20.1%	24.1%
Dividend yield	1.9%	2.0%	1.9%	1.8%	1.5%	1.8%	1.7%	1.7%	1.7%	3.2%	2.3%	2.9%	2.6%	2.5%	2.4%	2.4%	3.0%	3.1%	2.0%	1.2%	1.2%	0.6%	–	–	–	–	–	–	80.7%
Financial health
Current ratio	1.35×	1.47×	1.26×	0.97×	1.08×	1.01×	0.99×	0.93×	1.66×	1.15×	0.55×	0.64×	0.75×	0.84×	0.95×	0.94×	0.73×	0.55×	0.72×	0.52×	0.52×	0.54×	0.55×	0.48×	0.30×	0.57×	0.37×	0.42×	0.43×
Debt / equity	(1.63×)	(1.48×)	(1.42×)	(1.34×)	(1.34×)	(1.36×)	(1.32×)	(1.27×)	(1.55×)	(1.63×)	4.31×	2.16×	1.38×	1.37×	1.82×	2.28×	3.19×	(33.23×)	2.82×	1.58×	1.28×	1.09×	1.84×	4.12×	21.62×	(7.72×)	(4.48×)	(3.04×)	(2.89×)
Effective tax rate	24.9%	21.8%	12.2%	20.3%	5.9%	11.4%	5.8%	16.2%	41.1%	24.3%	38.8%	29.5%	31.4%	25.0%	19.5%	26.1%	22.4%	24.7%	23.7%	25.6%	25.7%	27.9%	30.2%	32.1%	32.9%	39.6%	39.6%	41.1%	(217.1%)
Share count
Diluted shares outstanding	281	285	285	290	302	307	313	329	355	400	443	453	461	473	481	486	483	491	541	564	596	610	611	620	607	596	640	627	577

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997
Revenue and gross profit
Revenue	$8,722	$8,214	$7,549	$7,076	$6,842	$6,584	$5,652	$5,597	$5,688	$5,878	$6,356	$13,105	$13,279	$13,084	$13,633	$12,626	$11,343	$10,836	$11,304	$10,416	$9,561	$9,349	$9,011	$8,380	$7,757	$6,953	$7,093	$7,822	$8,468	$9,681
Cost of revenue	($2,779)	($2,483)	($2,120)	($1,774)	($1,745)	($1,725)	($1,506)	($1,235)	($1,634)	($2,954)	($3,690)	($9,359)	($9,682)	($9,501)	($9,852)	($9,140)	($8,120)	($7,934)	($8,465)	($7,813)	($7,094)	($7,122)	($4,721)	($4,341)	($3,915)	($3,566)	($3,253)	($3,666)	($4,134)	($4,907)
Gross profit	$5,943	$5,731	$5,429	$5,302	$5,097	$4,859	$4,146	$4,362	$4,054	$2,924	$2,666	$3,746	$3,597	$3,583	$3,781	$3,486	$3,223	$2,902	$2,839	$2,603	$2,467	$2,227	$4,290	$4,039	$3,842	$3,387	$3,840	$4,156	$4,334	$4,774
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	($24)	($28)	($30)	($31)	($30)	($34)	($33)	($31)	($34)	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($1,305)	($1,262)	($1,181)	($1,193)	($1,140)	($1,060)	($1,064)	($917)	($895)	($999)	($4,618)	($1,504)	($1,419)	($1,412)	($1,510)	($1,372)	($1,277)	($1,221)	($1,342)	($1,293)	($1,222)	($1,210)	($1,056)	($3,005)	($2,837)	($2,521)	($2,623)	($2,876)	($3,160)	($3,578)
Total operating expenses	($3,240)	($3,157)	($3,026)	($2,984)	($2,910)	($2,720)	($2,643)	($2,432)	($1,758)	($163)	($984)	($2,344)	($2,080)	($1,785)	($1,487)	($1,671)	($1,454)	($1,312)	($1,322)	($1,246)	($1,205)	($1,074)	($3,135)	($2,980)	($2,837)	($2,521)	($2,977)	($3,262)	($3,566)	($4,102)
Total costs and expenses	($6,019)	($5,640)	($5,146)	($4,758)	($4,655)	($4,445)	($4,149)	($3,667)	($3,392)	($3,117)	($4,674)	($11,703)	($11,762)	($11,286)	($11,339)	($10,811)	($9,574)	($9,246)	($9,787)	($9,059)	($8,299)	($8,196)	($7,856)	($7,321)	($6,752)	($6,087)	($6,230)	($6,928)	($7,700)	($9,009)
Operating income	$2,703	$2,574	$2,403	$2,318	$2,187	$2,139	$1,503	$1,930	$2,296	$2,761	$1,682	$1,402	$1,517	$1,798	$2,294	$1,815	$1,769	$1,590	$1,517	$1,357	$1,262	$1,153	$1,155	$1,059	$1,005	$866	$863	$894	$768	$672
Earnings
EBITDA	$2,940	$2,780	$2,578	$2,471	$2,333	$2,303	$1,649	$2,042	$2,433	$3,014	$1,992	$1,724	$1,845	$2,519	$2,959	$2,452	$2,358	$2,170	$2,073	$1,899	$1,741	$1,622	$1,603	$1,460	$1,375	$1,220	$1,217	$1,280	$1,185	$1,208
Interest income	–	$1	($21)	$7	$11	$86	$74	($67)	$9	$5	$2	–	–	$23	$20	$28	$20	$18	$27	–	–	$20	–	–	–	–	–	–	–	–
Interest expense	($513)	($544)	($542)	($602)	($558)	($551)	($558)	($519)	($496)	($473)	($331)	($153)	($151)	($270)	($169)	($184)	($195)	($212)	($253)	($166)	($154)	($147)	($129)	($173)	($176)	–	–	–	–	–
Pre-tax income	$2,197	$2,077	$1,900	$1,818	$1,662	$1,674	$1,020	$1,373	$1,839	$2,274	$1,345	$1,261	$1,374	$1,551	$2,145	$1,659	$1,594	$1,396	$1,291	$1,191	$1,108	$1,026	$1,026	$886	$858	$733	$684	$1,038	$756	($35)
Income tax expense	$20	($518)	($414)	($221)	($337)	($99)	($116)	($79)	($297)	($934)	($327)	($489)	($406)	($487)	($537)	($324)	($416)	($313)	($319)	($282)	($284)	($264)	($286)	($268)	($275)	($241)	($271)	($411)	($311)	($76)
Net income	$2,217	$1,559	$1,486	$1,597	$1,325	$1,575	$904	$1,294	$1,542	$1,340	$1,643	$1,293	$1,051	$1,091	$1,597	$1,319	$1,158	$1,071	$964	$909	$824	$762	$740	$617	$583	$492	$413	$627	$445	($111)
Per share
Diluted EPS (GAAP)	$7.96	$5.55	$5.22	$5.59	$4.57	$5.21	$2.94	$4.14	$4.69	$3.77	$4.10	$2.92	$2.32	$2.36	$3.38	$2.74	$2.38	$2.22	$1.96	$1.68	$1.46	$1.27	$1.21	$1.01	$0.94	$0.81	$0.69	$0.98	$0.71	($0.19)
Basic EPS (GAAP)	$8.00	$5.59	$5.28	$5.68	$4.63	$5.30	$2.99	$4.23	$4.80	$3.86	$4.17	$2.97	$2.37	$2.41	$3.46	$2.81	$2.44	$2.28	$2.03	$1.74	$1.51	$1.33	$1.27	$1.05	$0.99	$0.84	$0.70	$1.02	$0.73	($0.19)
Basic shares outstanding	277	279	282	281	286	297	302	306	322	347	394	436	444	452	461	469	474	471	475	522	546	572	582	588	592	586	588	613	610	577
Margins
Gross margin	68.1%	69.8%	71.9%	74.9%	74.5%	73.8%	73.4%	77.9%	71.3%	49.7%	41.9%	28.6%	27.1%	27.4%	27.7%	27.6%	28.4%	26.8%	25.1%	25.0%	25.8%	23.8%	47.6%	48.2%	49.5%	48.7%	54.1%	53.1%	51.2%	49.3%
Operating margin	31.0%	31.3%	31.8%	32.8%	32.0%	32.5%	26.6%	34.5%	40.4%	47.0%	26.5%	10.7%	11.4%	13.7%	16.8%	14.4%	15.6%	14.7%	13.4%	13.0%	13.2%	12.3%	12.8%	12.6%	13.0%	12.5%	12.2%	11.4%	9.1%	6.9%
Net margin	25.4%	19.0%	19.7%	22.6%	19.4%	23.9%	16.0%	23.1%	27.1%	22.8%	25.8%	9.9%	7.9%	8.3%	11.7%	10.4%	10.2%	9.9%	8.5%	8.7%	8.6%	8.2%	8.2%	7.4%	7.5%	7.1%	5.8%	8.0%	5.3%	(1.1%)

Analyst consensus

Hold51 analysts

Bearish · 3 · Hold · 28 · Bullish · 20

Earnings history

	EPS	Estimate
Q3 2024	$1.37	$1.42	Miss
Q4 2024	$1.61	$1.60	Beat
Q1 2025	$1.30	$1.29	Beat
Q2 2025	$1.44	$1.46	Miss
Q3 2025	$1.58	$1.49	Beat
Q4 2025	$1.73	$1.76	Miss
Q1 2026	$1.50	$1.38	Beat
Q2 2026	$1.62	$1.57	Beat

Peers

Company overview

IPO dateSep 17, 1997

CEOChristopher Lee Turner

Employees49,000

SectorConsumer Cyclical

IndustryRestaurants

CountryUS

ExchangeNew York Stock Exchange

Websitewww.yum.com

YUM! Brands, Inc. (YUM) is a leading global quick-service restaurant enterprise that focuses on the creation, management, and franchising of its restaurant concepts internationally. Its business is organized into four main divisions: KFC, Taco Bell, Pizza Hut, and The Habit Burger Grill. The company operates establishments under these well-known brands, offering diverse food categories such as chicken, pizza, Mexican-style dishes, and made-to-order chargrilled burgers and sandwiches, among other food products. As of December 31, 2021, YUM! Brands boasted a significant worldwide presence, comprising 26,934 KFC outlets, 18,381 Pizza Hut locations, 7,791 Taco Bell restaurants, and 318 The Habit Burger Grill units, spread across roughly 157 countries and territories. The company, which maintains its headquarters in Louisville, Kentucky, was established in 1997. It was formerly known as TRICON Global Restaurants, Inc., before officially adopting the name YUM! Brands, Inc. in May 2002.

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