Yum! Brands, Inc. YUM

Consumer DiscretionaryHotels & Entertainment ServicesUnited States of America

Last close 157.60 USD on Nov 2, 2026, +5.7% year to date

Quant rating

Quant rating C Rank 167 of 344 in Consumer Discretionary

Growth C 158 of 344
Valuation C 240 of 344
Quality B 95 of 344
Revisions D 245 of 344
Momentum B 108 of 344

Wall Street consensus Buy (2.39)Average target 170.43 USD +8.1%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 43.0B
Enterprise value: 54.6B
52-week range: 134.31 – 170.14
3-year range: 123.25 – 170.14
Dividend yield: 1.93%
Beta (5 years): 0.53
Shares outstanding: 273M
Next earnings: Nov 3, 2026

About the company

YUM! Brands, Inc. and its subsidiaries franchise or operate a system of approximately 44,000 restaurants in 150 countries and territories under the concepts of KFC, Taco Bell, and Habit Burger & Grill. It consists of three operating segments: The KFC Division, which includes its worldwide operations of the KFC concept; The Taco Bell Division, which includes its worldwide operations of the Taco Bell concept, and The Habit Burger & Grill Division, which includes its worldwide operations of the Habit Burger & Grill concept. The Company develops, operates, or franchises a system of both traditional and non-traditional restaurants. KFC restaurants offer fried and non-fried chicken products. Taco Bell offers Mexican-style food products. The Habit Burger & Grill is a fast-casual restaurant concept specializing in made-to-order chargrilled burgers, sandwiches and more.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	8,214	7,549	7,076	6,842	6,584	–
Revenue growth	8.8%	6.7%	3.4%	3.9%	16.5%	7.8%
EPS (basic, normalized)	6.05	5.48	5.17	4.51	4.46	–
EPS growth	10.4%	6.0%	14.6%	1.1%	–	–
Gross margin	46.2%	47.7%	49.4%	48.3%	48.1%	47.9%
Net margin	19.0%	19.7%	22.6%	19.4%	23.9%	20.9%
ROE	–	–	–	–	–	–

Balance sheet, last quarter
Cash & short-term investments (mil)	674
Current ratio	0.59x
Long-term debt (mil)	9,462
Net debt (mil)	11,601
Total equity (mil)	−7,107
Net debt / equity	−1.63x
Net debt / EBITDA	4.01x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	8,214	+8.8%	6.6x	2,890	+8.1%	18.9x	6.05	+10.4%	26.0x
2026	8,742	+6.4%	6.2x	2,976	+3.0%	18.4x	6.41	+5.9%	24.6x
2027	8,798	+0.6%	6.2x	3,129	+5.2%	17.5x	6.98	+8.9%	22.6x
2028	9,365	+6.4%	5.8x	3,400	+8.7%	16.1x	7.83	+12.2%	20.1x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	8,742	−2.0%	−3.2%	−5.0%	6.41	−1.9%	−2.9%	−5.4%
2027	8,798	−4.6%	−7.8%	−9.7%	6.98	−3.2%	−5.1%	−6.8%
2028	9,365	−3.1%	−7.3%	−8.6%	7.83	−2.0%	−3.2%	−6.4%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,598	1,763	1,826	2,362	1,787	1,933	1,979	2,514	2,059	2,169
Sales mean (mil)	1,710	1,804	1,899	2,346	1,852	1,938	1,970	2,451	2,042	2,197
Surprise	−6.5%	−2.3%	−3.8%	+0.7%	−3.5%	−0.2%	+0.5%	+2.6%	+0.8%	−1.3%
EPS reported	1.15	1.35	1.37	1.61	1.30	1.44	1.58	1.73	1.50	1.62
EPS mean	1.20	1.33	1.41	1.60	1.29	1.46	1.49	1.77	1.38	1.58
Surprise	−4.5%	+1.7%	−3.2%	+0.9%	+0.9%	−1.4%	+6.3%	−2.3%	+8.7%	+2.6%

Peer comparison Hotels & Entertainment Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
YUM Yum! Brands, Inc.	43.0B	4.01x	19.0%	−6.05x	24.6x	22.6x	18.4x	17.5x
MCD McDonald's Corp	188.0B	2.63x	31.9%	−183.74x	20.6x	19.3x	14.6x	13.9x
BKNG Booking Holdings Inc.	115.5B	0.30x	20.1%	−10.81x	14.7x	12.4x	10.9x	9.7x
SBUX Starbucks Corp	119.0B	1.58x	5.0%	−15.51x	32.8x	28.0x	19.2x	17.4x
MAR Marriott International, Inc.	108.6B	3.06x	9.9%	−24.09x	35.1x	31.4x	20.7x	19.3x
HLT Hilton Worldwide Holdings Inc.	81.1B	3.39x	12.1%	−12.34x	40.0x	34.9x	23.1x	21.0x
Mean		2.50x	16.3%	−42.09x	28.0x	24.8x	17.8x	16.5x
Median		2.85x	15.5%	−13.92x	28.7x	25.3x	18.8x	17.4x

Technical analysis

1M+15.8%
3M+3.3%
1Y+16.3%
3Y+34.4%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Yum! Brands, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	8,214	7,549	7,076	6,842	6,584	5,652
Cost of revenue	4,422	3,947	3,580	3,535	3,418	2,965
Gross profit	3,792	3,602	3,496	3,307	3,166	2,687
Selling, general & administrative expenses	1,146	1,096	1,172	1,130	1,053	1,028
Research & development	–	–	–	–	–	–
Interest expense (income), operating	−5.0	6.0	5.0	−9.0	−14.0	−18.0
Unusual expense (income)	90.0	119	4.0	12.0	−11.0	171
Other operating expenses	−13.0	−22.0	−3.0	−12.0	0	5.0
Operating income	2,574	2,403	2,318	2,186	2,138	1,501
Net interest income (expense)	−500	−510	−506	−516	−458	−469
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	3.0	7.0	6.0	−8.0	−6.0	−12.0
Net income before taxes	2,077	1,900	1,818	1,662	1,674	1,020
Provision for taxes	518	414	221	337	99.0	116
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	1,559	1,486	1,597	1,325	1,575	904
Extraordinary items	–	–	–	–	–	–
Net income	1,559	1,486	1,597	1,325	1,575	904
EBIT, normalized	2,660	2,527	2,345	2,142	2,109	1,736
EBITDA, normalized	2,916	2,752	2,545	2,338	2,319	1,931
Basic EPS, normalized	6.05	5.48	5.17	4.51	4.46	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Yum! Brands, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	709	707	512	367	486	730
Receivables	955	830	757	680	646	569
Total inventory	–	–	–	–	–	–
Prepaid expenses	183	158	159	152	138	125
Other current assets	193	176	181	410	262	265
Total current assets	2,040	1,871	1,609	1,609	1,532	1,689
Property, plant & equipment	2,818	2,185	1,961	1,913	2,016	2,086
Goodwill	969	736	642	638	657	597
Intangibles	909	416	377	354	359	343
Long-term investments	–	–	–	–	–	0
Note receivable	–	–	–	–	–	–
Other long-term assets	1,461	1,519	1,642	1,332	1,402	1,137
Total assets	8,197	6,727	6,231	5,846	5,966	5,852
Liabilities
Accounts payable	292	249	231	243	227	215
Payable/accrued	82.0	74.0	72.0	–	–	–
Accrued expenses	609	543	565	583	687	518
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	38.0	27.0	53.0	398	68.0	453
Other current liabilities	495	376	356	441	433	489
Total current liabilities	1,516	1,269	1,277	1,665	1,415	1,675
Long-term debt	11,872	11,306	11,142	11,453	11,178	10,272
Minority interest	–	–	–	–	–	–
Other liabilities	2,134	1,800	1,670	1,604	1,746	1,796
Total liabilities	15,522	14,375	14,089	14,722	14,339	13,743
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0	0	60.0	0	0	0
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	−7,014	−7,256	−7,616	−8,507	−8,048	−7,480
Treasury stock	–	–	–	–	–	–
Other equity	−311	−392	−302	−369	−325	−411
Total equity	−7,325	−7,648	−7,858	−8,876	−8,373	−7,891
Total liabilities & shareholders' equity	8,197	6,727	6,231	5,846	5,966	5,852

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Yum! Brands, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	1,559	1,486	1,597	1,325	1,575	904
Depreciation, depletion & amortization	206	175	153	146	164	146
Deferred taxes	107	−30.0	−290	−55.0	−200	−65.0
Non-cash items	43.0	68.0	72.0	56.0	−27.0	155
Changes in working capital	96.0	−10.0	71.0	−45.0	194	165
Cash from operations	2,011	1,689	1,603	1,427	1,706	1,305
Investing activities
Capital expenditures	−371	−257	−285	−279	−230	−160
Other investing cash flows	−632	−165	178	77.0	57.0	−175
Cash from investing	−1,003	−422	−107	−202	−173	−335
Financing activities
Financing cash flow items	−63.0	−73.0	−25.0	−53.0	−77.0	−61.0
Cash dividends paid	−789	−752	−678	−649	−592	−566
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−72.0	−338	−726	−621	−1,098	−111
Cash from financing	−924	−1,163	−1,429	−1,323	−1,767	−738
Foreign exchange effects	32.0	−21.0	10.0	−26.0	−19.0	24.0
Net change in cash	116	83.0	77.0	−124	−253	256
Free cash flow	1,640	1,432	1,318	1,148	1,476	1,145

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.