YUMYum! Brands
Yum! Brands, Inc. (referred to herein as “YUM”, the “Registrant” or the “Company”), was incorporated under the laws of the state of North Carolina in 1997. 10-K, Item 1
- Headquarters
- Louisville, KY
- CEO
- Christopher Lee Turner
- Next results
- around Feb 3, 2027
All key numbers (38) From EDGAR
| EPS (ttm) | 12.42 | Sales (ttm) | 8.8B | Net income (ttm) | 3.4B | Sales growth | +8.8% | EPS growth | +6.3% | Sales Q/Q | +3.8% |
| Free cash flow | 1.6B | Gross margin | 67.4% | Oper. margin | 49.5% | Net margin | 39.1% | FCF margin | 18.4% | ROE | n/m |
| ROA | 39.3% | R&D / sales | - | Dividend | 2.84 | Debt/Eq | n/m | Curr. ratio | 0.96 | Cash | 2.1B |
| Op. cash flow (ttm) | 2.0B | EBITDA | 2.8B | EBITDA margin | 33.8% | Net debt | 11.6B | Quick ratio | 0.95 | Interest cover | 4.73 |
| Payout ratio | 51.2% | Tax rate | 24.9% | Stock pay / sales | 0.9% | Shares out. | 268.3M | Shares Y/Y | -1.4% | Book / share | -22.98 |
| Cash / share | 7.86 | Sales / share | 32.79 | Asset turnover | 1.00 | Inventory turns | 67.11 | Sales 3Y CAGR | +6.3% | Sales 5Y CAGR | +7.8% |
| EPS 3Y CAGR | +6.7% | EPS 5Y CAGR | +13.6% |
Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.
YUM against Consumer discretionary peers
Ten years, side by side → · All 47 →Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How
Every dot is one of the 47 companies, the better end on the right. Hover a dot for the company.
| Company | Revenue (ttm) | Sales growth | Gross margin | Net margin | ROE | FCF margin | Debt / equity |
|---|---|---|---|---|---|---|---|
| YUM Yum! Brands | $8.8B | +8.8% | 67.4% | 39.1% | - | 18.4% | - |
| NVR NVR, Inc. | $9.3B | -1.9% | - | 11.2% | 30.5% | 8.8% | - |
| RL Ralph Lauren Corporation | $8.5B | +14.6% | 71.8% | 12.6% | 39.3% | - | 0.45 |
| TPR Tapestry, Inc. | $8.2B | +14.2% | 78.3% | 19.7% | - | 23.0% | 5.70 |
| WSM Williams-Sonoma, Inc. | $8.0B | +1.2% | 47.2% | 14.7% | 55.1% | 16.8% | - |
| GRMN Garmin | $7.9B | +15.1% | 61.1% | 25.6% | 21.1% | 18.6% | - |
From $6.6B of sales to $1.6B of profit
FY2021, from the 10-K income statementSwipe sideways for the whole flow →
From $6.8B of sales to $1.3B of profit
FY2022, from the 10-K income statement and revenue by productSwipe sideways for the whole flow →
From $7.1B of sales to $1.6B of profit
FY2023, from the 10-K income statement and revenue by productSwipe sideways for the whole flow →
From $7.5B of sales to $1.5B of profit
FY2024, from the 10-K income statement and revenue by productSwipe sideways for the whole flow →
From $8.2B of sales to $1.6B of profit
FY2025, from the 10-K income statement and revenue by productSwipe sideways for the whole flow →
Where each $100 of sales went
- Cost of revenue
- Sales, admin & other
- Tax & other
- Net profit
Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →
Profitability
2 of 2- ✓Net margin above the peer median39.1% vs 10.8%
- ✓A profit in every one of 10 years
Balance sheet
0 of 4- !Interest covered less than 5 timesOperating income is 4.7× interest expense
- !Equity below zeroDebt $13.7B, equity −$6.2B
- !Current ratio below 1Current ratio 0.96
- !Net debt over 3 years of free cash flow$11.6B net debt, 7.2 years
Cash and shareholders
4 of 4- ✓Free cash flow positive in every one of 9 years$1.6B last year
- ✓Share count down over 5 years−8.5%
- ✓Dividend per share up over 5 years$1.88 → $2.84
- ✓Cash from operations above net income$2.0B vs $1.6B
Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.
What the debt is made of, and when it is due
balance sheet of Sep 30, 2026 · schedule of Dec 31, 2025The debt note's own lines, 2025-12-31
Fixed rate $0Floating $3.8B Not stated $5.3B
| Line, as the company names it | Kind | Rate | Fixed or floating | Amount |
|---|---|---|---|---|
| Term Loan B Facility (Secured Debt) | Secured | 5.29% | floating | $1.4B |
| Term Loan B Facility | Bank loans | – | floating | $1.4B |
| Unsecured Notes Due January 2032 | Secured | 4.63–4.77% | not stated | $1.1B |
| Senior Unsecured Notes Due March 2031 | Secured | 3.63–3.77% | not stated | $1.1B |
| Senior Unsecured Notes Due April 2032 | Secured | 5.38% | not stated | $1.0B |
| Senior Unsecured Notes Due January 2030 | Secured | 4.75–4.90% | not stated | $800.0M |
| Subsidiary Senior Unsecured Notes due 2027 | Secured | 4.75% | not stated | $750.0M |
| Term Loan A Facility (Secured Debt) | Secured | 4.71% | floating | $494.0M |
| Term Loan A Facility | Bank loans | – | floating | $494.0M |
| Senior Unsecured Notes Due November 2037 | Secured | 6.88–7.45% | not stated | $325.0M |
| Senior Unsecured Notes Due November 2043 | Secured | 5.35–5.42% | not stated | $275.0M |
All 11 lines
From the debt note in the 10-K's XBRL (0001041061-26-000084), as the company tags it: by issue, by year, by currency or by kind. Lines from two ways of cutting the same debt can overlap, so they are not added up. Fixed or floating is read from the line's own name only; "not stated" when it says neither.
Left: the debt lines on the balance sheet (XBRL). Right: the principal due each year, from the debt note's maturity schedule; it can differ a little from the balance sheet, which shows the debt net of discounts and fees. Leases are not counted. The full schedule →
Revenue and net income, FY2016 to FY2025
Revenue 8.2B Net income 1.6BFrom XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →
YUM's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.
The segments changed
10-K filed 2026-02-20Compared with the 10-K of Feb 19, 2025: new segments Other, PH Strategic Options; no longer reported: German Acquisition.
When a company changes its segments, the years before are usually recast, so growth by segment is not comparable with what earlier 10-Ks showed. Found by comparing the segments with revenue in the last two 10-Ks (XBRL) and by the 10-K's own words, without AI.
Revenue by business segment
year to Dec 31, 2025| Revenue | Share | vs year before | |
|---|---|---|---|
| KFC Global Division | 3.5B | 43.1% | +14.3% |
| Taco Bell Global Division | 3.1B | 37.7% | +8.2% |
| Other | 2.7B | 32.5% | +10.4% |
| Pizza Hut Global Division | 1.0B | 12.3% | +0.5% |
| The Habit Burger Grill Global Division | 570.0M | 6.9% | -5.0% |
| PH Strategic Options | 7.0M | 0.1% | - |
| Corporate Segment and Other Operating Segment | -7.0M | -0.1% | - |
10-K 0001041061-26-000084, segment and revenue notes (XBRL).
Revenue by product or service
year to Dec 31, 2025| Revenue | Share | vs year before | |
|---|---|---|---|
| Franchise and property revenue | 3.5B | 42.3% | +5.4% |
| Company Sales | 2.9B | 35.9% | +15.4% |
| Franchise contributions for advertising and other services | 1.8B | 21.9% | +5.5% |
10-K 0001041061-26-000084, segment and revenue notes (XBRL).
Revenue by region
year to Dec 31, 2025| Revenue | Share | vs year before | |
|---|---|---|---|
| United States | 4.5B | 55.1% | +4.4% |
| UNITED KINGDOM | 1.0B | 12.4% | +27.8% |
10-K 0001041061-26-000084, segment and revenue notes (XBRL).
Income statement
From EDGAR| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6.4B | 5.9B | 5.7B | 5.6B | 5.7B | 6.6B | 6.8B | 7.1B | 7.5B | 8.2B |
| Cost of revenue | - | 3.0B | 1.6B | 1.2B | 1.5B | 1.7B | 1.7B | 1.8B | 2.1B | 2.5B |
| SG&A | - | 999.0M | 895.0M | 917.0M | 1.1B | 1.1B | 1.1B | 1.2B | 1.2B | 1.3B |
| Operating income | 1.7B | 2.8B | 2.3B | 1.9B | 1.5B | 2.1B | 2.2B | 2.3B | 2.4B | 2.6B |
| Interest expense | 331.0M | 473.0M | 496.0M | 519.0M | 558.0M | 551.0M | 558.0M | 602.0M | 542.0M | 544.0M |
| Pretax income | 1.3B | 2.3B | 1.8B | 1.4B | 1.0B | 1.7B | 1.7B | 1.8B | 1.9B | 2.1B |
| Income tax | - | 934.0M | 297.0M | 79.0M | 116.0M | 99.0M | 337.0M | 221.0M | 414.0M | 518.0M |
| Net income | 1.6B | 1.3B | 1.5B | 1.3B | 904.0M | 1.6B | 1.3B | 1.6B | 1.5B | 1.6B |
| EPS (diluted) | 4.10 | 3.77 | 4.69 | 4.14 | 2.94 | 5.21 | 4.57 | 5.59 | 5.22 | 5.55 |
| Diluted shares | 400.0M | 355.0M | 329.0M | 313.0M | 307.0M | 302.0M | 290.0M | 285.0M | 285.0M | 281.0M |
| Depreciation & amortization | 310.0M | 253.0M | 137.0M | 112.0M | 146.0M | 164.0M | 146.0M | 153.0M | 175.0M | 206.0M |
| EBITDA | 2.0B | 3.0B | 2.4B | 2.0B | 1.6B | 2.3B | 2.3B | 2.5B | 2.6B | 2.8B |
| Operating margin | 26.5% | 47.0% | 40.4% | 34.5% | 26.6% | 32.5% | 32.0% | 32.8% | 31.8% | 31.3% |
| Net margin | 25.8% | 22.8% | 27.1% | 23.1% | 16.0% | 23.9% | 19.4% | 22.6% | 19.7% | 19.0% |
| Revenue growth | - | -7.5% | -3.2% | -1.6% | +1.0% | +16.5% | +3.9% | +3.4% | +6.7% | +8.8% |
| EPS growth | - | -8.0% | +24.4% | -11.7% | -29.0% | +77.2% | -12.3% | +22.3% | -6.6% | +6.3% |
Balance sheet
From EDGAR| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash | 725.0M | 1.5B | 292.0M | 605.0M | 730.0M | 486.0M | 367.0M | 512.0M | 616.0M | 709.0M |
| Short-term investments | - | - | - | - | - | - | - | 0 | 91.0M | 0 |
| Inventory | 37.0M | - | - | - | - | - | - | - | - | - |
| Current assets | 1.5B | 2.5B | 1.2B | 1.5B | 1.7B | 1.5B | 1.6B | 1.6B | 1.9B | 2.0B |
| Property & equipment | 2.1B | 1.7B | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 1.3B | 1.6B |
| Goodwill | 536.0M | 512.0M | 525.0M | 530.0M | 597.0M | 657.0M | 638.0M | 642.0M | 736.0M | 969.0M |
| Total assets | 5.5B | 5.3B | 4.1B | 5.2B | 5.9B | 6.0B | 5.8B | 6.2B | 6.7B | 8.2B |
| Accounts payable | - | - | 202.0M | 173.0M | - | - | - | - | - | - |
| Current liabilities | 1.3B | 1.5B | 1.3B | 1.5B | 1.7B | 1.4B | 1.7B | 1.3B | 1.3B | 1.5B |
| Total debt | 9.2B | 10.2B | 10.4B | 11.0B | 11.2B | 11.3B | 12.3B | 11.3B | 11.4B | 11.9B |
| Total liabilities | 11.1B | 11.6B | 12.1B | 13.2B | 13.7B | 14.3B | 14.7B | 14.1B | 14.4B | 15.5B |
| Shareholders' equity | -5.6B | -6.3B | -7.9B | -8.0B | -7.9B | -8.4B | -8.9B | -7.9B | -7.6B | -7.3B |
| Retained earnings | -5.2B | -6.1B | -7.6B | -7.6B | -7.5B | -8.0B | -8.5B | -7.6B | -7.3B | -7.0B |
Cash flow
From EDGAR| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | - | 1.0B | 1.2B | 1.3B | 1.3B | 1.7B | 1.4B | 1.6B | 1.7B | 2.0B |
| Capital spending | - | 318.0M | 234.0M | 196.0M | 160.0M | 230.0M | 279.0M | 285.0M | 257.0M | 371.0M |
| Free cash flow | - | 712.0M | 942.0M | 1.1B | 1.1B | 1.5B | 1.1B | 1.3B | 1.4B | 1.6B |
| Stock-based pay (added back) | - | 65.0M | 50.0M | 59.0M | 97.0M | 75.0M | 84.0M | 95.0M | 69.0M | 70.0M |
| Dividends paid | - | 416.0M | 462.0M | 511.0M | 566.0M | 592.0M | 649.0M | 678.0M | 752.0M | 789.0M |
| Buybacks | - | 2.0B | 2.4B | 815.0M | 239.0M | 1.6B | 1.2B | 50.0M | 441.0M | 552.0M |
| Acquisitions | 0 | 0 | 66.0M | 0 | 408.0M | 0 | 0 | - | 174.0M | 6.0M |
| Debt raised | - | 1.1B | 1.6B | 800.0M | 1.6B | 4.2B | 999.0M | 0 | 237.0M | 1.5B |
| Debt repaid | - | 385.0M | 1.3B | 331.0M | 1.5B | 3.7B | 699.0M | 397.0M | 479.0M | 966.0M |
| Investing cash flow | - | 1.5B | 313.0M | -88.0M | -335.0M | -173.0M | -202.0M | -107.0M | -422.0M | -1.0B |
| Financing cash flow | - | -1.8B | -2.6B | -938.0M | -738.0M | -1.8B | -1.3B | -1.4B | -1.2B | -924.0M |
| Dividend per share | 1.73 | 0.90 | 1.44 | 1.68 | 1.88 | 2.00 | 2.28 | 2.42 | 2.68 | 2.84 |
Stock-based pay and leases
From EDGAR| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based pay (expense) | - | 65.0M | 50.0M | 59.0M | 97.0M | 75.0M | 84.0M | 95.0M | 69.0M | 70.0M |
| Stock-based pay / revenue | - | 1.1% | 0.9% | 1.1% | 1.7% | 1.1% | 1.2% | 1.3% | 0.9% | 0.9% |
| Operating lease cost | - | - | - | 115.0M | 137.0M | 145.0M | 133.0M | 130.0M | 135.0M | 158.0M |
| Operating lease cash paid | - | - | - | 104.0M | 133.0M | 140.0M | 137.0M | 127.0M | 137.0M | 158.0M |
| Finance lease principal paid | - | - | - | 4.0M | 5.0M | 4.0M | 5.0M | 7.0M | 8.0M | 7.0M |
| Right-of-use assets | - | - | 0 | 642.0M | 851.0M | 809.0M | 742.0M | 764.0M | 881.0M | 1.2B |
| Operating lease liabilities | - | - | - | 707.0M | - | - | - | - | 953.0M | 1.3B |
| Finance lease liabilities | - | - | - | 77.0M | 72.0M | 64.0M | 57.0M | 50.0M | 67.0M | 148.0M |
From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.
Work on YUM in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/YUM/export.csv") into a cell.