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Yum! Brands (YUM) stock

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NYSE: YUM NYSE Restaurants Next results ~November 3, 2026

B Fundamentals grade

Yum! Brands is a US-listed company in the restaurants industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$74

Cash-flow model

Base case. Range ~$43–$120 across our lower- and higher-growth cases (4%–14% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 53% below it.

Price used: $157.60, November 2, 2026

Yum! Brands valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 7 selling0 purchases and 45 sales by directors and officers, last 12 monthsInsider trades
  • Funds599 adding, 608 cuttingOf 72 active managers that changed their stake, 32 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Yum! Brands files

Where Yum! Brands stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $8.72bn, up 10.3% on a year earlier, faster than 9.7% a quarter earlier. Free-cash-flow margin held at 19.3%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B+. It passes 0 of our 2 financial-health checks. Our cash-flow model value is $137 a share, against a share price of $151. At that price, our model says the market is pricing in about 10.7% a year of cash-flow growth for five years, faster than the 5.8% a year revenue growth it has delivered.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Yum! Brands's trailing-twelve-month revenue grew 10.3% year on year, with a free-cash-flow margin of 19.3%. Where it stands out: net margin of 25.4% ranks 2 of 44 restaurants companies we cover. Where it lags: long-term debt as % of assets of 109.0% ranks 34 of 36 restaurants companies we cover.

Our discounted-cash-flow model values the business at ~$74 per share in the base case (~$43–$120 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 9.5% while net income grew 54.8%: a 45pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • High operating margin. 31.0% of revenue is left as operating profit, against a median of 5.2% for restaurants companies we cover.
  • Shrinking share count. Diluted shares fell 1.2% in a year, so each share owns more of the business.

Things to watch

  • Priced above our value. The share price of $157.60 is 53% above our value per share of $74.
  • Insiders selling. 7 insiders sold $13M of stock over the past 365 days and none bought (63% under pre-set trading plans).
  • Gross margin slipping. Gross margin is down 2.4 points on a year ago.
  • Weak cash conversion. Free cash flow was 76% of net income over the last 12 months.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 109.0% ranks 34 of 36 restaurants companies we cover (median 29.0%).
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 8.2% over 90 days.

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$1.62 against an average estimate of $1.56: beat by 3.7%
Revenue
$2.17bn, up 12.2% on a year earlier
Share reaction
+0.9% in the first session after the results on July 30, 2026, against +2.4% for the S&P 500
Next report
November 3, 2026; average EPS estimate $1.46

Yum! Brands' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.4%
  • 1 week+5.4%
  • 1 month+15.8%
  • This year+5.7%
  • 1 year+16.2%
  • 5 years+39.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$8.7B
Operating margin
31.0%
Net margin
25.4%
EPS (TTM, diluted)
$7.94

Growth

Revenue growth
+10.3%
Change in growth rate
+0.6 pts
Share count change
−1.2%

Cash

Free cash flow (TTM)
$1.7B
FCF margin
19.3%
Stock pay % of revenue
0.8%

Earnings

Last results
November 3, 2026
Next results (est.)
February 3, 2027

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

    Yum! Brands posts Q3 results, completes Pizza Hut sale

    Yum! Brands reported third-quarter GAAP EPS of $5.92 and returned $1.8 billion to shareholders year-to-date. The company said it completed the divestiture of Pizza Hut in August and September. KFC unit growth reached 7%, while Taco Bell U.S. same-store sales outpaced the industry since late September.

    SEC 8-KRead source ↗
  2. Deal
  3. Leadership
  4. Dividend
  5. Leadership
  6. Deal
  7. Insider trade
  8. Results
  9. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Yum! Brands valuation models and calculator

What the price is pricing in

The share price implies about 15.9% a year of cash-flow growth for five years.That is faster than the 5.8% a year revenue growth Yum! Brands has delivered.

  • Priced in15.9%
  • Last 12 months10.3%
  • 3 years a year7.7%
  • 5 years a year5.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($158.12, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$74
Price used
$158.12close November 3, 2026
Implied change
▼ 53%
Uncertainty
High

How we got here: a discounted-cash-flow model of Yum! Brands's free cash flow after stock-based pay with after-tax interest added back ($1.6B, FY2026 Q2 TTM), growing 2.2% and 5.6% in the next two years (forecasts, guidance and its record), then back to 9% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$43–~$120 ; that spread sets a 35% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Yum! Brands's free cash flow after stock-based pay ( $1.6B, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Yum! Brands as an operating company, with every model that fits that kind of business. Cost of equity 8%: the 10-year Treasury yield (4.9%) plus a beta of 0.68 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$74 ~$43–$120 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$110 ~$99–$210 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$88 ~$74–$110 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Yum! Brands with Restaurants in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −36%
  • Revenue growth 5 points higher ▲ +47%
  • Free-cash-flow margin 1 point lower ▼ −8%
  • Last year's free-cash-flow margin change, if it persists ▼ −1%
  • Discount rate 1 point higher ▼ −22%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $31$61$101$153$221$309
8.5% $12$33$62$99$148$210
10% —$17$39$67$104$151

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$42.95$53.01$69.50$79.65$88.74$97.48$126.77$119.18$123.87$129.72$149.10$157.60
Market value$19.0bn$21.2bn$24.7bn$26.2bn$27.8bn$29.9bn$38.3bn$34.6bn$35.3bn$37.0bn$41.9bn$44.0bn
+ Net debt (− = net cash)−$737m$8.5bn−$1.7bn$10.1bn$10.4bn$10.5bn$10.8bn$12.0bn$10.8bn$10.8bn$11.3bn$14.4bn
Enterprise value$18.3bn$29.7bn$23.0bn$36.3bn$38.2bn$40.4bn$49.1bn$46.5bn$46.1bn$47.8bn$53.2bn$58.4bn
Multiples
Price / sales 3.0x3.3x4.2x4.6x5.0x5.3x5.8x5.1x5.0x4.9x5.1x5.0x
Price / earnings 14.8x12.9x18.4x17.0x21.5x33.1x24.3x26.1x22.1x24.9x26.9x19.9x
Price / free cash flow 16.3x—34.7x27.8x24.8x26.1x25.9x30.1x26.8x25.8x25.6x26.2x
EV / EBITDA 10.4x14.9x7.6x14.9x18.7x24.5x21.3x19.9x18.7x18.5x19.1x19.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

96 /100

Strong moat

How hard Yum! Brands's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 25.0% of total assets over 10 years.

  • Pricing power 17 / 20

    Gross margin has been a median 74.1%, moving by 4.9 percentage points (standard deviation) across 9 years.

  • Durability 20 / 20

    Operating margin has been a median 31.5%; its worst year was 28.7%.

  • Cash conversion 19 / 20

    Free cash flow was positive in 10 of 10 years, at a median 18.7% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 8.7% over five years; stock-based pay has been a median 1.0% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, before the open. Analysts expect revenue of $2.0bn and EPS of $1.46 (range $1.35 to $1.54) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $6.34 +5% $8.7bn +6%
Next $6.84 +8% $8.6bn −0%

Next year's EPS estimate has moved −8.2% in 90 days, across 19 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −5.9% on 90 days ago. In the last 30 days, 0 analysts raised Yum! Brands's forecast and 3 cut it.

Consensus EPS forecast Yum! Brands, last 90 days
$6.00 $6.50 $7.00 $7.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $6.75 Current fiscal year, 60 days ago: $6.63 Current fiscal year, 30 days ago: $6.39 Current fiscal year, 7 days ago: $6.35 Current fiscal year, Now: $6.34 $6.34 Next fiscal year, 90 days ago: $7.45 Next fiscal year, 60 days ago: $7.46 Next fiscal year, 30 days ago: $6.93 Next fiscal year, 7 days ago: $6.86 Next fiscal year, Now: $6.84 $6.84

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $6.75$7.45
60 days ago $6.63$7.46
30 days ago $6.39$6.93
7 days ago $6.35$6.86
Now $6.34$6.84

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.56 $1.62 +3.7%
Mar 2026 $1.39 $1.50 +8.0%
Dec 2025 $1.76 $1.73 −1.5%
Sept 2025 $1.48 $1.58 +6.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 30, 2026

No numeric guidance in Yum! Brands's latest earnings release (filed July 30, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Yum! Brands's revenue by +2.2% next year and +5.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-0.7%, weight 69%) and the company's own record (+9.0%, weight 31%) . How the weights are set.

Analyst recommendations

26 analysts, Oct 2026
Buy1246%
Hold1454%
Sell00%

Monthly trend

  1. Oct 20262101426
  2. Sep 20263101326
  3. Aug 2026291526
  4. Jul 2026291526

Counts of recommendations published by analysts covering Yum! Brands, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.9%
of tradable shares
Days to cover
4.76
at average volume
Short interest, 1 month
+20%
to October 15, 2026
Held by institutions
91%
of shares
Held by insiders
0.2%
of shares
Employees
49,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +16.2%

$135.58 on October 31, 2025 to $157.60

ThenNowEffect
Revenue (last 12 months) $7.9bn $8.7bn +10.3%
Net margin 18.1% 25.4% +40.4%
P/E multiple 26.8x 19.9x −25.8%
Share count 283m 279m +1.3%

Biggest factor: net margin.

Last 3 years +32.2%

$119.21 on November 3, 2023 to $157.60

ThenNowEffect
Revenue (last 12 months) $7.0bn $8.7bn +24.8%
Net margin 20.3% 25.4% +25.1%
P/E multiple 24.1x 19.9x −17.5%
Share count 287m 279m +2.7%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
YUM+30%−6%+4%+5%+15%+6%
Industry peers (median)+15%−17%+16%−1%−10%+2%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
YUM67%33%50%58%50%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
YUM−9%−23%−18%−12%−15%−19%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 52% from September 6, 2019 to March 23, 2020. Getting back needed a 109% gain, reached on April 12, 2021, 385 days after the low.

Price behaviour

52-week range
$135.75 – $166.65
From 52-week high
−5.4%
vs 50-day average
+7.9%
vs 200-day average
+3.4%
Volatility (1 year)
25%
Beta vs S&P 500
0.01

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
9 up, 2 down
typical move ±3.3%
After a week
8 up, 3 down
typical move ±3.6%
After a month
7 up, 4 down
typical move ±5.1%
Results releasedNext dayS&P 500 next day5 days21 days
July 30, 2026 +0.9% +2.4% +0.2% +1.3%
April 29, 2026 +2.0% +1.0% −0.3% −5.0%
February 4, 2026 +1.5% −1.7% +0.2% +1.3%
November 4, 2025 +7.2% −0.8% +8.2% +5.1%
August 5, 2025 −3.9% +0.3% −3.3% −1.8%
April 30, 2025 +0.6% +0.7% +1.2% −2.1%
February 6, 2025 +9.4% −0.6% +13.3% +21.0%
November 5, 2024 +1.2% +3.7% +1.4% +4.5%
August 6, 2024 +2.3% +0.2% +3.2% +1.4%
May 1, 2024 −4.4% +0.6% −3.0% −2.2%
February 7, 2024 +2.5% +0.9% +5.3% +10.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Yum! Brands’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Yum! Brands in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Yum! Brands
$7B $7.5B $8B $8.5B $9B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $7.1B Revenue (TTM), FY23 Q4: $7.1B Revenue (TTM), FY24 Q1: $7B Revenue (TTM), FY24 Q2: $7.1B Revenue (TTM), FY24 Q3: $7.2B Revenue (TTM), FY24 Q4: $7.5B Revenue (TTM), FY25 Q1: $7.7B Revenue (TTM), FY25 Q2: $7.9B Revenue (TTM), FY25 Q3: $8.1B Revenue (TTM), FY25 Q4: $8.2B Revenue (TTM), FY26 Q1: $8.5B Revenue (TTM), FY26 Q2: $8.7B $8.7B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $7.1B
FY23 Q4 $7.1B
FY24 Q1 $7B
FY24 Q2 $7.1B
FY24 Q3 $7.2B
FY24 Q4 $7.5B
FY25 Q1 $7.7B
FY25 Q2 $7.9B
FY25 Q3 $8.1B
FY25 Q4 $8.2B
FY26 Q1 $8.5B
FY26 Q2 $8.7B
Revenue growth, TTM YoY Yum! Brands
0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 5.2% Revenue growth, TTM YoY, FY23 Q4: 3.4% Revenue growth, TTM YoY, FY24 Q1: 1.3% Revenue growth, TTM YoY, FY24 Q2: 1.6% Revenue growth, TTM YoY, FY24 Q3: 2.3% Revenue growth, TTM YoY, FY24 Q4: 6.7% Revenue growth, TTM YoY, FY25 Q1: 10.1% Revenue growth, TTM YoY, FY25 Q2: 11.3% Revenue growth, TTM YoY, FY25 Q3: 11.6% Revenue growth, TTM YoY, FY25 Q4: 8.8% Revenue growth, TTM YoY, FY26 Q1: 9.7% Revenue growth, TTM YoY, FY26 Q2: 10.3% 10.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 5.2%
FY23 Q4 3.4%
FY24 Q1 1.3%
FY24 Q2 1.6%
FY24 Q3 2.3%
FY24 Q4 6.7%
FY25 Q1 10.1%
FY25 Q2 11.3%
FY25 Q3 11.6%
FY25 Q4 8.8%
FY26 Q1 9.7%
FY26 Q2 10.3%
Operating margin (TTM) Yum! Brands
30% 31% 32% 33% 34% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 32.4% Operating margin (TTM), FY23 Q4: 32.8% Operating margin (TTM), FY24 Q1: 32.9% Operating margin (TTM), FY24 Q2: 33.1% Operating margin (TTM), FY24 Q3: 32.6% Operating margin (TTM), FY24 Q4: 31.8% Operating margin (TTM), FY25 Q1: 31.4% Operating margin (TTM), FY25 Q2: 30.9% Operating margin (TTM), FY25 Q3: 30.9% Operating margin (TTM), FY25 Q4: 31.3% Operating margin (TTM), FY26 Q1: 31.5% Operating margin (TTM), FY26 Q2: 31.0% 31.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 32.4%
FY23 Q4 32.8%
FY24 Q1 32.9%
FY24 Q2 33.1%
FY24 Q3 32.6%
FY24 Q4 31.8%
FY25 Q1 31.4%
FY25 Q2 30.9%
FY25 Q3 30.9%
FY25 Q4 31.3%
FY26 Q1 31.5%
FY26 Q2 31.0%
FCF margin (TTM) Yum! Brands
18.5% 19% 19.5% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 18.5% FCF margin (TTM), FY23 Q4: 18.6% FCF margin (TTM), FY24 Q1: 19.1% FCF margin (TTM), FY24 Q2: 19.3% FCF margin (TTM), FY24 Q3: 18.9% FCF margin (TTM), FY24 Q4: 19.0% FCF margin (TTM), FY25 Q1: 18.8% FCF margin (TTM), FY25 Q2: 19.4% FCF margin (TTM), FY25 Q3: 19.4% FCF margin (TTM), FY25 Q4: 20.0% FCF margin (TTM), FY26 Q1: 19.4% FCF margin (TTM), FY26 Q2: 19.3% 19.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 18.5%
FY23 Q4 18.6%
FY24 Q1 19.1%
FY24 Q2 19.3%
FY24 Q3 18.9%
FY24 Q4 19.0%
FY25 Q1 18.8%
FY25 Q2 19.4%
FY25 Q3 19.4%
FY25 Q4 20.0%
FY26 Q1 19.4%
FY26 Q2 19.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Yum! Brands took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $8.2B
  2. Cost of revenue $2.5B · 30.2%
  3. Gross profit $5.7B · 69.8%
  4. Selling, general and admin $1.3B · 15.4%
  5. Other operating costs $1.9B · 23.1%
  6. Operating income $2.6B · 31.3%
  7. Income tax $518M · 6.3%
  8. Interest and other $497M · 6.1%
  9. Net income $1.6B · 19.0%

Shares of revenue. Source: Yum! Brands's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 10.8 11.3 12.6 13.6 13.1 13.3 6.4 6.4 5.9 5.7 5.6 5.7 6.6 6.8 7.1 7.5 8.2 8.7
Gross profit — — — — — — — — 2.9 4.1 4.4 4.1 4.9 5.1 5.3 5.4 5.7 5.9
EBITDA 2.2 2.4 2.5 3.0 2.5 1.8 1.8 2.0 3.0 2.4 2.0 1.6 2.3 2.3 2.5 2.6 2.8 2.9
Operating income 1.6 1.8 1.8 2.3 1.8 1.5 1.4 1.7 2.8 2.3 1.9 1.5 2.1 2.2 2.3 2.4 2.6 2.7
Net income 1.1 1.2 1.3 1.6 1.1 1.1 1.3 1.6 1.3 1.5 1.3 0.9 1.6 1.3 1.6 1.5 1.6 2.2
Diluted EPS $2.22 $2.38 $2.74 $3.38 $2.36 $2.32 $2.90 $4.10 $3.77 $4.69 $4.14 $2.94 $5.21 $4.57 $5.59 $5.22 $5.55 $7.94
Growth (year on year)
Revenue −4.1% +4.7% +11.3% +8.0% −4.0% +1.5% −51.7% −1.0% −7.5% −3.2% −1.6% +1.0% +16.5% +3.9% +3.4% +6.7% +8.8% +10.3%
EBITDA +4.7% +8.7% +4.0% +20.7% −14.9% −26.8% −5.0% +13.6% +51.3% −19.3% −16.1% −19.2% +39.7% +1.3% +5.9% +4.3% +7.8% +11.6%
Operating income +4.8% +11.3% +2.6% +26.4% −21.6% −15.6% −5.5% +17.3% +64.1% −16.8% −15.9% −22.1% +42.3% +2.2% +6.0% +3.7% +7.1% +10.5%
Net income +11.1% +8.1% +13.9% +21.1% −31.7% −3.7% +22.1% +28.1% −18.4% +15.1% −16.1% −30.1% +74.2% −15.9% +20.5% −7.0% +4.9% +54.8%
Diluted EPS +13.3% +7.2% +15.1% +23.4% −30.2% −1.7% +25.0% +41.4% −8.0% +24.4% −11.7% −29.0% +77.2% −12.3% +22.3% −6.6% +6.3% +56.8%
Margins
Gross margin — — — — — — — — 49.7% 71.3% 77.9% 73.4% 73.8% 74.5% 74.9% 71.9% 69.8% 68.1%
EBITDA margin 20.0% 20.8% 19.4% 21.7% 19.3% 13.9% 27.3% 31.3% 51.3% 42.8% 36.5% 29.2% 35.0% 34.1% 34.9% 34.2% 33.8% 33.7%
Operating margin 14.7% 15.6% 14.4% 16.8% 13.7% 11.4% 22.3% 26.5% 47.0% 40.4% 34.5% 26.6% 32.5% 32.0% 32.8% 31.8% 31.3% 31.0%
Net margin 9.9% 10.2% 10.4% 11.7% 8.3% 7.9% 20.0% 25.8% 22.8% 27.1% 23.1% 16.0% 23.9% 19.4% 22.6% 19.7% 19.0% 25.4%
Free-cash-flow margin 5.6% 10.3% 9.7% 8.8% 8.3% 7.7% 18.2% — 12.1% 16.6% 20.0% 20.3% 22.4% 16.8% 18.6% 19.0% 20.0% 19.3%
Cash flow
Cash from operations 1.4 2.0 2.2 2.3 2.1 2.0 2.1 — 1.0 1.2 1.3 1.3 1.7 1.4 1.6 1.7 2.0 2.1
Capital spending 0.8 0.8 0.9 1.1 1.0 1.0 1.0 — 0.3 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.4 0.4
Free cash flow 0.6 1.2 1.2 1.2 1.1 1.0 1.2 — 0.7 0.9 1.1 1.1 1.5 1.1 1.3 1.4 1.6 1.7
Stock-based pay 0.1 0.0 0.1 0.1 0.0 0.1 0.1 — 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Free cash flow after stock pay 0.6 1.1 1.2 1.1 1.0 1.0 1.1 — 0.6 0.9 1.1 1.0 1.4 1.1 1.2 1.4 1.6 1.6
Balance sheet
Cash 0.4 1.4 1.2 0.8 0.6 0.6 0.7 0.7 1.7 0.3 0.6 0.7 0.5 0.4 0.5 0.6 0.7 0.7
Total debt 3.3 4.3 3.3 2.9 3.0 3.6 — 9.2 — 10.4 11.0 11.2 11.3 12.3 11.3 11.4 12.0 15.1
Net debt (negative = net cash) 3.0 2.8 2.1 2.2 2.4 3.0 −0.7 8.5 −1.7 10.1 10.4 10.5 10.8 12.0 10.8 10.8 11.3 14.4
Diluted shares 483m 486m 481m 473m 461m 453m 443m 400m 355m 329m 313m 307m 302m 290m 285m 285m 281m 279m
Returned to shareholders
Dividends 0.4 0.4 0.5 0.5 0.6 0.7 0.7 — 0.4 0.5 0.5 0.6 0.6 0.6 0.7 0.8 0.8 0.8
Buybacks 0.0 0.4 0.8 1.0 0.8 0.8 1.2 — 2.0 2.4 0.8 0.2 1.6 1.2 0.1 0.4 0.6 0.9
Total returned 0.4 0.8 1.2 1.5 1.4 1.5 1.9 — 2.4 2.9 1.3 0.8 2.2 1.8 0.7 1.2 1.3 1.7

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 4 checks passed · June 30, 2026
What it owns · $8.7bn
Short-term assets $2.5bnLonger-term assets $6.1bn
What it owes, and who funded it · $15.8bn
Short-term liabilities $4.3bnLonger-term liabilities $11.5bnShareholders' equity $-7.1bn
  • Short-term assets cover short-term liabilities $2.5bn of assets due within a year against $4.3bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.5bn short-term assets against $11.5bn of longer-dated liabilities.
  • More cash than debt $674m of cash against $12.3bn of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $2.1bn of operating cash flow against $12.3bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Yum! Brands's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$888M
Dividends (TTM)
$807M
Returned to shareholders
101%
of free cash flow
Buybacks, last 3 fiscal years
$1B
Diluted share count
−1.2%
year over year
Total shareholder yield
3.9%
dividends 1.9% + buybacks 2.0% of market value
Dividend payout ratio
36%
of net income paid out

Competitors: side by side with peers

Closest by revenue in restaurants
Last 12 months unless stated YUM QSR TXRH YUMC CMG EAT Median
Revenue, last 12 months $8.7bn $9.8bn $6.2bn $12.4bn $12.7bn $5.9bn $1.4bn
Revenue growth, last 12 months 10.3% 5.5% 9.9% 8.8% 7.9% 6.1% 4.6%
Revenue growth, 3-year average 7.7% 12.4% 12.7% 6.3% 10.1% 12.3% 5.1%
Revenue growth, latest quarter 12.2% 3.1% 11.1% 12.6% 9.6% 9.4% 4.5%
Gross margin 68.1% 65.3% — — — 73.1% 68.6%
Operating margin 31.0% 27.0% 7.7% 11.1% 14.1% 11.0% 4.9%
Operating margin, 3-year average 31.7% 26.4% 8.6% 10.5% 15.8% 9.0% 6.9%
Net margin 25.4% 15.3% 6.6% 7.8% 10.8% 8.4% 2.5%
Cash from operations / revenue 23.9% 19.1% 12.9% 12.7% 18.5% 14.1% 11.9%
Free-cash-flow margin 19.3% 16.2% 6.5% 7.6% 11.9% 10.1% 3.4%
Free-cash-flow margin, 3-year average 19.3% 15.7% 6.4% 6.9% 12.2% 7.8% 2.8%
Stock pay / revenue 0.8% 1.5% 0.8% 0.3% 0.9% 0.5% 0.8%
Change in share count −1.2% 0.4% −0.9% −5.5% −4.6% −4.3% 0.2%

Median of all 44 companies we cover in restaurants. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

44 restaurants companies
Measure Company Peer median Rank
Revenue growth Growth 10.3% 4.7% 9 of 44
Change in growth rate Growth +0.6pp +0.3pp 18 of 44
Gross margin Profitability 68.1% 63.0% 7 of 15
Operating margin Profitability 31.0% 5.2% 2 of 42
Net margin Profitability 25.4% 2.6% 2 of 44
Free-cash-flow margin Cash generation 19.3% 3.6% 3 of 44
Stock pay as % of revenue Cash generation 0.8% 0.8% 21 of 40
Long-term debt as % of assets Balance sheet 109.0% 29.0% 34 of 36
Change in share count Balance sheet -1.2% 0.3% 13 of 42

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Total Division $8.2B ▲ 8.6%
KFC Global Division $3.5B ▲ 14.3%
Taco Bell Global Division $3.1B ▲ 8.2%
Other $2.7B ▲ 10.4%
Pizza Hut Global Division $1B ▲ 0.5%
The Habit Burger Grill Global Division $570M ▼ 5.0%
PH Strategic Options $7M —
Corporate and Other -$7M —

These categories overlap or exclude eliminations, so shares aren't shown.

Products and services
Line of business Revenue Share YoY
Franchiseandpropertyrevenue $3.5B 42.3% ▲ 5.4%
Products $2.9B 35.9% ▲ 15.4%
Advertising $1.8B 21.9% ▲ 5.5%
Geography
Region Revenue YoY
United States $4.5B ▲ 4.4%
United Kingdom $1B ▲ 27.8%

These categories overlap or exclude eliminations, so shares aren't shown.

From Yum! Brands's 10-K filed February 20, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$39B
Institutions reporting
1,427
Shares held vs prior quarter
▲ 3.7%
Positions opened / closed
111 / 116

Top buyers and sellers, Q2 2026: 599 institutions bought and 608 sold ; the biggest buyer was Wellington Management Group LLP (+4.3M shares) and the biggest seller Cantillon Capital Management LLC (−1.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $4.2B 26.2M 10.7% ▼ 0.9%
Jpmorgan Chase & Co $3.2B 20.0M 8.1% ▲ 3.3%
Vanguard Capital Management LLC $2.9B 18.0M 7.4% 0.0%
Capital International Investors $2.7B 17.0M 7.0% ▲ 0.8%
Vanguard Portfolio Management LLC $2.2B 14.0M 5.7% ▲ 0.4%
State Street Corp $2.1B 13.2M 5.4% ▲ 1.5%
T. Rowe Price Investment Management, Inc. $1.6B 10.3M 4.2% ▲ 4.0%
Geode Capital Management, LLC $1.3B 8.4M 3.4% ▲ 0.5%
Norges Bank $803M 5.0M 2.1% —
Invesco Ltd. $775M 4.8M 2.0% ▲ 20.1%
Wellington Management Group LLP $740M 4.6M 1.9% ▲ 1373.2%
Morgan Stanley $703M 4.4M 1.8% ▲ 4.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Yum! Brands's complete shareholder register. Values are as reported by the filers ; 4 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $13.3M 45 trades by 7 insiders · 63% under pre-set plans
Net ▼ $13.3M net selling
Insider Date Trade Shares Price Value
Turner Christopher Lee Chief Executive Officer October 7, 2026 Sell pre-set plan 285 $140.11 $39,931
Mezvinsky Scott KFC Division CEO October 1, 2026 Sell pre-set plan 241 $136.89 $32,990
Turner Christopher Lee Chief Executive Officer September 1, 2026 Sell pre-set plan 261 $153.64 $40,100
Mezvinsky Scott KFC Division CEO September 1, 2026 Sell pre-set plan 268 $153.64 $41,176
Skeans Tracy L COO and CPO August 24, 2026 Sell pre-set plan 3,494 $158.00 $552,052
Turner Christopher Lee Chief Executive Officer August 3, 2026 Sell pre-set plan 261 $153.15 $39,972
Mezvinsky Scott KFC Division CEO August 3, 2026 Sell pre-set plan 268 $153.15 $41,044
Russell David Eric Sr. Vice President, Controller August 3, 2026 Sell pre-set plan 7,961 $153.15 $1.2M
Turner Christopher Lee Chief Executive Officer July 1, 2026 Sell pre-set plan 250 $160.42 $40,105
Powell Aaron CEO - Pizza Hut July 1, 2026 Sell pre-set plan 6,001 $160.42 $962,680
Mezvinsky Scott KFC Division CEO July 1, 2026 Sell pre-set plan 277 $160.42 $44,436
Turner Christopher Lee Chief Executive Officer June 1, 2026 Sell pre-set plan 270 $148.14 $39,998

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 25 trades and filings

No trades in Yum! Brands disclosed in the last 12 months; 25 earlier trades on record.

  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded August 13, 2025, filed September 12, 2025
  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded June 24, 2025, filed August 13, 2025
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded May 30, 2025, filed June 6, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 3, 2027 estimated from the company's past filing pattern, not announced

  • November 3, 2026
  • July 30, 2026
  • April 29, 2026
  • February 4, 2026
  • November 4, 2025
  • August 5, 2025

Recent SEC filings

Data status

When each part of this page on Yum! Brands was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Yum! Brands in brief

What does Yum! Brands do?
Yum! Brands is a US-listed company in the restaurants industry. Its financial year ends in December.
What is Yum! Brands's stock ticker?
Yum! Brands trades under the ticker YUM on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Yum! Brands's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Yum! Brands reported revenue of $8.7B, 10.3% higher than a year earlier, according to its SEC filings.
What is Yum! Brands's free cash flow?
Yum! Brands's free-cash-flow margin is 19.3% of revenue over the trailing twelve months, ranking 3 of the 44 restaurants companies we cover.
What is Yum! Brands's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Yum! Brands's free cash flow after stock-based pay gives ~$74 per share in the base case, and ~$43–$120 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Yum! Brands's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Jpmorgan Chase & Co and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Yum! Brands buying back stock, and does it pay a dividend?
Yum! Brands spent $888M on share repurchases over the trailing twelve months, and its diluted share count fell 1.2% over the year.
What is Yum! Brands's market cap?
On November 2, 2026, Yum! Brands's market capitalisation was about $44B, with a price-to-earnings ratio of 19.9 and net debt of $14.4B. Market figures come from third-party market data and may be delayed.
Does Yum! Brands pay a dividend?
Yes: Yum! Brands paid $807M in dividends over the trailing twelve months, a dividend yield of 1.85% and a payout ratio of 36.4%.
Who are Yum! Brands's competitors?
In our Restaurants peer group, the companies closest to Yum! Brands are Restaurant Brands International Inc., Texas Roadhouse, Inc., Yum China Holdings, Inc., Chipotle Mexican Grill and Brinker International, Inc. The side-by-side comparison below sets their revenue, margins and growth against Yum! Brands's.
Are insiders buying or selling Yum! Brands stock?
Over the last 12 months, Yum! Brands's directors and officers reported 0 open-market purchases and 45 sales on Form 4. The insider trading page charts every trade.
When is Yum! Brands's next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Yum! Brands announces its own schedule.