YUM BRANDS INC YUM

Consumer discretionary SIC 5812 - Retail-Eating Places NAICS Accommodation and Food Services › Food Services and Drinking Places › Restaurants and Other Eating Places derived NYSE

YUM, together with its subsidiaries, is referred to in this Form 10-K annual report ("Form 10-K") as the Company. The terms "we," "us" and "our" are also used in the Form 10-K to refer to the Company. Throughout this Form 10-K, the terms "restaurants," "stores" and "units" are used interchangeably. While YUM does not directly own or operate any restaurants, throughout this document we may refer to restaurants that are owned or operated by our subsidiaries as being Company-owned.

YUM has over 63,000 restaurants in 155 countries and territories primarily operating under the four concepts of KFC, Taco Bell, Pizza Hut and Habit Burger & Grill (the "Concepts"). The Company's KFC, Taco Bell and Pizza Hut brands are global leaders of the chicken, Mexican-inspired food and pizza categories, respectively. Habit Burger & Grill is a fast-casual restaurant concept specializing in made-to-order chargrilled burgers, sandwiches and more. At December 31, 2025, 97% of our Concepts' units are operated by independent franchisees or licensees under the terms of franchise or license agreements. The terms franchise or franchisee within this Form 10-K are meant to describe third parties that operate units under either franchise or license agreements.

Last close 149.70 2026-10-23
Market cap $40.85B 2026-06-30 share count
52-week range 134.26 - 170.14

Valuation FY2025 figures against the last close

P/S5.0x
P/E27.0x
P/FCF24.9x
EV/EBITDA14.5x
Dividend yield1.9%
Diluted EPS5.55

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $8.21B$7.55B$7.08B$6.84B$6.58B$5.65B$5.60B$5.69B$5.88B$6.36B
Cost of revenue $2.48B$2.12B$1.77B$1.75B$1.73B$1.51B$1.24B$1.63B$2.95B—
Gross profit $5.73B$5.43B$5.30B$5.10B$4.86B$4.15B$4.36B$4.05B$2.92B—
SG&A $1.26B$1.18B$1.19B$1.14B$1.06B$1.06B$917.0M$895.0M$999.0M—
Total operating expenses $5.64B$5.15B$4.76B$4.66B$4.45B$4.15B$3.67B$3.39B$3.12B—
Operating income $2.57B$2.40B$2.32B$2.19B$2.14B$1.50B$1.93B$2.30B$2.76B$1.68B
Interest expense $501.0M$489.0M$513.0M$527.0M$544.0M$543.0M$486.0M$452.0M$445.0M$307.0M
Pre-tax income $2.08B$1.90B$1.82B$1.66B$1.67B$1.02B$1.37B$1.84B$2.27B$1.34B
Income tax $518.0M$414.0M$221.0M$337.0M$99.0M$116.0M$79.0M$297.0M$934.0M—
Net income $1.56B$1.49B$1.60B$1.32B$1.57B$904.0M$1.29B$1.54B$1.34B$1.64B
EPS, basic 5.595.285.684.635.302.994.234.803.864.17
EPS, diluted 5.555.225.594.575.212.944.144.693.774.10
Shares, diluted (wtd. avg.) 281.0M285.0M285.0M290.0M302.0M307.0M313.0M329.0M355.0M400.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $709.0M$616.0M$512.0M$647.0M$771.0M$1.02B$768.0M$474.0M$1.67B$831.0M
Short-term investments $0$91.0M$0———————
Total current assets $2.04B$1.87B$1.61B$1.61B$1.53B$1.69B$1.53B$1.21B$2.51B$1.50B
Property, plant and equipment $1.60B$1.30B$1.20B$1.17B$1.21B$1.24B$1.17B$1.24B——
Goodwill $969.0M$736.0M$642.0M$638.0M$657.0M$597.0M$530.0M$525.0M$512.0M—
Other intangibles $909.0M$416.0M$377.0M$354.0M$359.0M$343.0M$244.0M$242.0M——
Total assets $8.20B$6.73B$6.23B$5.85B$5.97B$5.85B$5.23B$4.13B$5.31B$5.45B
Accounts payable $1.43B$1.21B$1.17B$1.25B$1.33B$1.19B$960.0M$202.0M——
Short-term debt $38.0M$27.0M$53.0M$398.0M$68.0M$453.0M$441.0M$331.0M$386.0M$66.0M
Total current liabilities $1.52B$1.27B$1.28B$1.67B$1.42B$1.68B$1.54B$1.30B$1.51B$1.31B
Total liabilities $15.52B$14.38B$14.09B$14.72B$14.34B$13.74B$13.25B$12.06B$11.64B$11.07B
Retained earnings -$7.01B-$7.26B-$7.62B-$8.51B-$8.05B-$7.48B-$7.63B-$7.59B——
Total equity -$7.33B-$7.65B-$7.86B-$8.88B-$8.37B-$7.89B-$8.02B-$7.93B-$6.33B-$5.62B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $2.01B$1.69B$1.60B$1.43B$1.71B$1.30B$1.31B$1.18B$1.03B—
Depreciation and amortisation $206.0M$175.0M$153.0M$146.0M$164.0M$146.0M$112.0M$137.0M$253.0M$310.0M
Stock-based compensation $70.0M$69.0M$95.0M$84.0M$75.0M$97.0M$59.0M$50.0M$65.0M—
Capital expenditure $371.0M$257.0M$285.0M$279.0M$230.0M$160.0M$196.0M$234.0M$318.0M—
Investing cash flow -$1.00B-$422.0M-$107.0M-$202.0M-$173.0M-$335.0M-$88.0M$313.0M$1.47B—
Financing cash flow -$924.0M-$1.16B-$1.43B-$1.32B-$1.77B-$738.0M-$938.0M-$2.62B-$1.79B—
Dividends paid $789.0M$752.0M$678.0M$649.0M$592.0M$566.0M$511.0M$462.0M$416.0M—
Buybacks $552.0M$441.0M$50.0M$1.20B$1.59B$239.0M$815.0M$2.39B$1.96B—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001041061-26-000084.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 2.5B 5B 7.5B 10B Revenue, FY2016: 6.4B Net income, FY2016: 1.6B Revenue, FY2017: 5.9B Gross profit, FY2017: 2.9B Net income, FY2017: 1.3B Revenue, FY2018: 5.7B Gross profit, FY2018: 4.1B Net income, FY2018: 1.5B Revenue, FY2019: 5.6B Gross profit, FY2019: 4.4B Net income, FY2019: 1.3B Revenue, FY2020: 5.7B Gross profit, FY2020: 4.1B Net income, FY2020: 904M Revenue, FY2021: 6.6B Gross profit, FY2021: 4.9B Net income, FY2021: 1.6B Revenue, FY2022: 6.8B Gross profit, FY2022: 5.1B Net income, FY2022: 1.3B Revenue, FY2023: 7.1B Gross profit, FY2023: 5.3B Net income, FY2023: 1.6B Revenue, FY2024: 7.5B Gross profit, FY2024: 5.4B Net income, FY2024: 1.5B Revenue, FY2025: 8.2B Gross profit, FY2025: 5.7B Net income, FY2025: 1.6B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $6.36B $5.88B $5.69B $5.60B $5.65B $6.58B $6.84B $7.08B $7.55B $8.21B
Gross profit — $2.92B $4.05B $4.36B $4.15B $4.86B $5.10B $5.30B $5.43B $5.73B
Net income $1.64B $1.34B $1.54B $1.29B $904.0M $1.57B $1.32B $1.60B $1.49B $1.56B

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed Item 1.01
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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