Yum! Brands
YUM · Restaurants
$149.70
3.1%Yum China
YUMC · Restaurants
$44.54
0.5%The short version
- Yum China is the larger business, with $11.8B of revenue in fiscal 2025 against $8.2B for Yum! Brands.
- Yum! Brands grew revenue faster (8.8%, against 4.4%).
- Yum! Brands kept more of each dollar of sales as operating profit (31.3% operating margin, against 10.9% operating margin).
- Yum! Brands turned more of its sales into free cash flow (20.0% FCF margin, against 7.1% FCF margin).
- Investors pay more for each dollar of Yum! Brands’s earnings: a P/E of 18.8x against 16.3x for Yum China.
| Latest fiscal year | YUM · FY25 | YUMC · FY25 |
|---|---|---|
| Size | ||
| Market cap | $41.5B | $15.5B |
| Revenue | $8.2B | $11.8B |
| Free cash flow | $1.6B | $840M |
| Net income | $1.6B | $929M |
| Growth | ||
| Revenue growth | 8.8% | 4.4% |
| 5-year growth | 7.8% | 7.4% |
| Share count change | −1.4% | −4.9% |
| Profitability | ||
| Gross margin | 69.8% | — |
| Operating margin | 31.3% | 10.9% |
| Net margin | 19.0% | 7.9% |
| FCF margin | 20.0% | 7.1% |
| Return on capital | 54.8% | — |
| Return on equity | — | 16.7% |
| Balance sheet | ||
| Net debt | $11.3B | — |
| Net debt / EBITDA | 4.1x | — |
| Dividends and buybacks | $1.3B | $1.5B |
| Valuation & quality | ||
| P/E | 18.8x | 16.3x |
| Piotroski F-score | 6 | — |
FY16
YUM $6.4B
YUMC $7.1B
FY17
YUM $5.9B
YUMC $7.8B
FY18
YUM $5.7B
YUMC $8.4B
FY19
YUM $5.6B
YUMC $8.8B
FY20
YUM $5.7B
YUMC $8.3B
FY21
YUM $6.6B
YUMC $9.9B
FY22
YUM $6.8B
YUMC $9.6B
FY23
YUM $7.1B
YUMC $11.0B
FY24
YUM $7.5B
YUMC $11.3B
FY25
YUM $8.2B
YUMC $11.8B
YUM
YUMC
FY16
YUM 26.5%
YUMC 9.0%
FY17
YUM 47.0%
YUMC 10.0%
FY18
YUM 40.4%
YUMC 11.2%
FY19
YUM 34.5%
YUMC 10.3%
FY20
YUM 26.6%
YUMC 11.6%
FY21
YUM 32.5%
YUMC 14.1%
FY22
YUM 32.0%
YUMC 6.6%
FY23
YUM 32.8%
YUMC 10.1%
FY24
YUM 31.8%
YUMC 10.3%
FY25
YUM 31.3%
YUMC 10.9%
YUM
YUMC
FY16
YUM —
YUMC $430M
FY17
YUM $712M
YUMC $469M
FY18
YUM $942M
YUMC $863M
FY19
YUM $1.1B
YUMC $750M
FY20
YUM $1.1B
YUMC $695M
FY21
YUM $1.5B
YUMC $442M
FY22
YUM $1.1B
YUMC $734M
FY23
YUM $1.3B
YUMC $763M
FY24
YUM $1.4B
YUMC $714M
FY25
YUM $1.6B
YUMC $840M
YUM
YUMC
FY16
YUM 34.5%
YUMC —
FY17
YUM 64.1%
YUMC —
FY18
YUM 85.2%
YUMC —
FY19
YUM 79.7%
YUMC —
FY20
YUM 53.8%
YUMC —
FY21
YUM 80.0%
YUMC —
FY22
YUM 62.7%
YUMC —
FY23
YUM 67.3%
YUMC —
FY24
YUM 62.4%
YUMC —
FY25
YUM 54.8%
YUMC —
YUM
YUMC
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