YUMC

MKT CAP:$17B

Yum China Holdings, Inc.

Market Cap

$17B

Consumer Cyclical·Restaurants·🇨🇳 China·NYSE

Consumer Cyc.·Restaurants·🇨🇳·NYSE

Stock Price

$48.60+$0.43 (+0.89%)

Apr 20, 2026

Company Details

Yum China Holdings, Inc. owns, operates, and franchises restaurants in China. The company operates through two segments, KFC and Pizza Hut. It operates restaurants under the KFC, Pizza Hut, Little Sheep, Huang Ji Huang, Lavazza, COFFii & JO...

CEO

Joey Wat

IPO Date

Oct 17, 2016

Website

www.yumchina.com

Key Metrics TTM

Revenue

$10.4B

+54.7% YoY

Net Income

$980M

EPS (Diluted)

$2.45

Free Cash Flow

$391M

Revenue / Share

$29.10

Gross Margin

14.1%

Operating Margin

13.0%

Net Margin

9.4%

FCF Margin

3.7%

P/S

1.6x

P/E

17.6x

Earnings Reports

Q1 2026

Apr 29, 2026

PENDING

FY 2025

Feb 27, 2026

$6.0BEPS $1.16

Q4 2025

Feb 27, 2026

$2.8BEPS $0.39

Q3 2025

Nov 10, 2025

$3.2BEPS $0.76

FY 2022

Aug 9, 2022

$2.1B-7.1%EPS $0.20

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 15	$2.0B	$179M	$47M
Q1 16	$1.3B	$257M	$194M
Q2 16	$1.6B	$209M	$87M
Q3 16	$1.9B	$371M	$286M
Q4 16	$2.0B	$0	$0
Q4 21	$2.3B	$206M	$633M
Q2 22	$2.1B	$278M	$81M
Q3 25	$3.2B	$582M	$400M
Q4 25	$2.8B	$409M	$240M

Valuation

Quarter	P/S	P/E
Q4 15	—	—
Q1 16	—	—
Q2 16	—	—
Q3 16	2.5x	44.7x
Q4 16	2.5x	34.3x
Q4 21	2.2x	20.7x
Q2 22	2.1x	20.5x
Q3 25	1.8x	18.5x
Q4 25	1.6x	17.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 15	-$5M	-$160M
Q1 16	$373M	$293M
Q2 16	$50M	-$42M
Q3 16	$401M	$305M
Q4 16	$42M	-$126M
Q4 21	$57M	-$150M
Q2 22	$438M	$296M
Q3 25	$486M	$358M
Q4 25	$133M	-$113M

Capital Expenditures

Quarter	CapEx
Q4 15	$155M
Q1 16	$80M
Q2 16	$92M
Q3 16	$96M
Q4 16	$168M
Q4 21	$207M
Q2 22	$142M
Q3 25	$129M
Q4 25	$246M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 16	-3.4%	-1.1%
Q4 21	+75.8%	+49.5%
Q2 22	+34.0%	+36.4%
Q3 25	+70.3%	+75.7%
Q4 25	+42.7%	+30.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 15	$6M	0.3%
Q1 16	$3M	0.2%
Q2 16	$2M	0.1%
Q3 16	$4M	0.2%
Q4 16	$7M	0.4%
Q4 21	$9M	0.4%
Q2 22	$10M	0.5%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q4 15	$137M
Q1 16	$66M
Q2 16	$104M
Q3 16	$101M
Q4 16	$153M
Q4 21	$156M
Q2 22	$141M
Q3 25	$143M
Q4 25	$169M

Revenue Segments

Quarter	All Other Segments	K F C	Pizza Hut Casual Dining	Food And Non Food Revenues From Sales	Franchise Fees And Income	Other Revenue	Transactions With Franchisees And Unconsolidated Affiliates
Q3 16	$75M	$1.3B	$511M	—	—	—	—
Q4 21	—	—	—	$2.1B	$33M	$122M	$144M
Q3 25	—	—	—	$3.0B	$28M	$260M	—
Q4 25	—	—	—	$2.6B	$25M	$251M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.0B	$2.6B	$3.7B
Q2 22	$1.1B	$2.5B	$3.7B
Q3 22	$1.2B	$2.8B	$4.0B
Q4 22	$1.1B	$2.0B	$3.2B
Q1 23	$1.1B	$1.9B	$3.0B
Q2 23	$1.2B	$1.8B	$3.0B
Q3 23	$1.1B	$2.0B	$3.1B
Q4 23	$1.1B	$1.5B	$2.6B
Q1 24	$883M	$1.5B	$2.4B
Q2 24	$1.0B	$1.4B	$2.5B
Q3 24	$1.2B	$1.3B	$2.5B
Q4 24	$723M	$1.1B	$1.8B
Q1 25	$825M	$1.2B	$2.0B
Q2 25	$592M	$1.6B	$2.2B
Q3 25	$648M	$1.5B	$2.1B
Q4 25	$506M	$878M	$1.4B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 15	364M	—	—
Q1 16	364M	0.0%	—
Q2 16	390M	+7.2%	—
Q3 16	390M	0.0%	—
Q4 16	380M	-2.6%	+4.4%
Q4 21	433M	+14.0%	+19.0%
Q2 22	424M	-2.1%	+8.7%
Q3 25	368M	-13.2%	-5.6%
Q4 25	359M	-2.4%	-5.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 15	—	—
Q1 16	—	—
Q2 16	—	—
Q3 16	—	—
Q4 16	$4.7K	420K
Q4 21	$5.1K	450K
Q2 22	$4.7K	450K
Q3 25	$9.2K	350K
Q4 25	$9.7K	290K

Revenue / Employee