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Financial statements

YUM BRANDS INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data YUM BRANDS INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue6,3565,8785,6885,5975,6526,5846,8427,0767,5498,214
Cost of revenue2,9541,6341,2351,5061,7251,7451,7742,1202,483
Gross profit2,9244,0544,3624,1464,8595,0975,3025,4295,731
General and administrative9998959171,0641,0601,1401,1931,1811,262
Operating expenses3,1173,3923,6674,149
Operating income1,6822,7612,2961,9301,5032,1392,1872,3182,4032,574
Interest expense331473496519558551558602542544
Pre-tax income1,3452,2741,8391,3731,0201,6741,6621,8181,9002,077
Income tax9342977911699337221414518
Income from continuing operations1,0181,294
Net income1,6431,3401,5421,2949041,5751,3251,5971,4861,559
EBITDA1,9923,0142,4332,0421,6492,3032,3332,4712,5782,780
EPS, basic4.173.864.804.232.995.304.635.685.285.59
EPS, diluted4.103.774.694.142.945.214.575.595.225.55
Shares, basic (weighted)394347322306302297286281282279
Shares, diluted (weighted)400355329313307302290285285281
Dividend per share1.730.901.441.681.882.002.282.422.682.84

Balance sheet

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash and equivalents7251,522292605730486367512616709
Short-term investments0910
Receivables370400561584534596648737775841
Inventory37
Other current assets3543384254505943605864
Total current assets1,5052,5071,2071,5271,6891,5321,6091,6091,8712,040
Property, plant and equipment2,1131,6971,2371,1701,2351,2071,1711,1971,3041,605
Lease right-of-use assets06428518097427648811,213
Goodwill536512525530597657638642736969
Intangible assets151110242244343359354377416909
Other non-current assets3763467241,3131,4351,4871,3241,3611,3291,708
Total assets5,4535,3114,1305,2315,8525,9665,8466,2316,7278,197
Accounts payable1,0678132021731,1891,3341,2511,1691,2111,433
Accrued liabilities206223
Short-term debt6638633144145368398532738
Total current liabilities1,3061,5121,3011,5411,6751,4151,6651,2771,2691,516
Long-term debt9,0599,4299,75110,13110,27211,17811,45311,14211,30611,872
Lease liabilities6408237937317578621,174
Other non-current liabilities7047041,0041,5751,7961,7461,6041,6701,8002,133
Total liabilities11,06811,64512,05613,24713,74314,33914,72214,08914,37515,521
Total debt6638633144146375405562939
Retained earnings-5,158-6,063-7,592-7,628-7,480-8,048-8,507-7,616-7,256-7,014
Other comprehensive income-454-271-334-388-411-325-369-302-392-311
Shareholders' equity-5,612-6,334-7,926-8,016-7,891-8,373-8,876-7,858-7,648-7,325
Total equity-5,615-6,334-7,926-8,016-7,891-8,373-8,876-7,858-7,648-7,325
Total liabilities and equity5,4535,3114,1305,2315,8525,9665,8466,2316,7278,197

Cash flow statement

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net income1,6431,3401,5421,2949041,5751,3251,5971,4861,559
Depreciation and amortization310253137112146164146153175206
Stock-based compensation655059977584956970
Deferred income tax634-11-232-65-200-55-290-30107
Change in payables-173-68-36128122-39-30894
Cash from operations1,0301,1761,3151,3051,7061,4271,6031,6892,010
Capital expenditures-318-234-196-160-230-279-285-257-371
Acquisitions00-660-40800-174-6
Purchases of investments00-200000-91-91
Sales and maturities of investments206
Cash from investing1,472313-88-335-173-202-107-422-1,003
Debt issued1,0881,5568001,6504,15099902371,493
Debt repaid-385-1,264-331-1,517-3,657-699-397-479-966
Stock issued5126110113892
Share buybacks-1,960-2,390-815-239-1,591-1,200-50-441-552
Dividends paid-416-462-511-566-592-649-678-752-789
Cash from financing-1,795-2,620-938-738-1,767-1,323-1,429-1,163-924
Exchange rate effect61-63524-19-2610-2132
Net change in cash768-1,194294256-253-1247783116
Free cash flow7129421,1191,1451,4761,1481,3181,4321,639
Interest paid442455497480471486526510516
Income taxes paid346279283328308371432494405

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $138.63 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Gross margin68.1%Gross profit / revenue.
Operating margin31.0%Operating income / revenue.
EBITDA margin33.7%EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin25.2%Pre-tax income / revenue.
Net margin25.4%Net income / revenue.
FCF margin19.3%Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin23.9%Cash from operations / revenue.
Effective tax rate-0.9%Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)25.5%Net income / average total assets.
Stock-based pay / revenue0.8%Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue4.6%Capital expenditures / revenue.
D&A / revenue2.7%Depreciation and amortization / revenue.

Growth

MetricValueHow it is calculated
Revenue growth, 1y8.8%Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y6.3%Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y7.8%Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y5.6%Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y4.0%Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y6.7%Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y7.1%Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y5.6%Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y11.4%Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y7.8%EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y6.0%Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y11.0%Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y4.9%Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y5.6%Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y11.5%Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y6.3%EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y6.7%Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y13.6%Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y19.0%Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y12.1%Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y9.0%Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y14.5%Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y12.6%Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y7.4%Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y6.0%Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y7.6%Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y8.6%Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y21.9%Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y11.9%Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y7.0%Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y-1.4%Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y-1.0%Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y-1.8%Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

MetricValueHow it is calculated
Current ratio0.59xCurrent assets / current liabilities.
Quick ratio0.30x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio0.16x(Cash + short-term investments) / current liabilities.
Debt / assets32.5%Total debt / total assets.
Liabilities / assets181.9%Total liabilities / total assets.
Net debt$2.15BTotal debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA0.73xNet debt / EBITDA (twelve months), when EBITDA is positive.
Working capital-$1.75BCurrent assets - current liabilities.
Goodwill and intangibles / assets17.5%(Goodwill + intangible assets) / total assets.
Tangible book value-$8.63BShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover1.00xRevenue / average total assets.
Fixed asset turnover5.40xRevenue / average property, plant and equipment.
Receivables turnover14.0xRevenue / average receivables.
Days sales outstanding26 days365 x average receivables / revenue.
Days payables156 days365 x average accounts payable / cost of revenue.
FCF conversion75.7%Free cash flow / net income, when net income is positive.
Capex / operating cash flow19.4%Capital expenditures / cash from operations, when that is positive.

Per share

MetricValueHow it is calculated
EPS, diluted$8.00Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share$31.49Revenue / diluted weighted shares.
FCF per share$6.06Free cash flow / diluted weighted shares.
Operating cash flow per share$7.52Cash from operations / diluted weighted shares.
Book value per share-$25.66Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share-$31.16Tangible book value / shares outstanding.
Cash per share$2.43(Cash + short-term investments) / shares outstanding.
Payout ratio36.4%Dividends paid / net income, when net income is positive.
Dividends / FCF48.1%Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF52.9%Share buybacks / free cash flow, when free cash flow is positive.

Valuation

MetricValueHow it is calculated
Market cap$37.83BShare price x shares outstanding.
Enterprise value$39.98BMarket cap + total debt - cash - short-term investments.
P/E17.1xMarket cap / net income. Only when net income is positive.
P/S4.34xMarket cap / revenue.
P/FCF22.5xMarket cap / free cash flow. Only when free cash flow is positive.
P/OCF18.2xMarket cap / cash from operations, when positive.
EV/Sales4.58xEnterprise value / revenue.
EV/EBIT14.8xEnterprise value / operating income, when both are positive.
EV/EBITDA13.6xEnterprise value / EBITDA, when both are positive.
EV/FCF23.8xEnterprise value / free cash flow, when both are positive.
FCF yield4.4%Free cash flow / market cap.
Earnings yield5.9%Net income / market cap (the inverse of P/E).
Dividend yield2.1%Dividends paid over the period / market cap.
Shareholder yield4.5%(Dividends paid + share buybacks) / market cap.
PEG2.55xP/E / EPS growth per year over 3 years (in percent). Only when both are positive.
What was YUM BRANDS INC's revenue in fiscal 2025?

YUM BRANDS INC reported revenue of $8.21B for fiscal 2025, 8.8% higher than the year before.

Was YUM BRANDS INC profitable in fiscal 2025?

Yes. Net income was $1.56B, a net margin of 19%.

How much free cash flow did YUM BRANDS INC generate in fiscal 2025?

Cash from operations of $2.01B minus capital expenditures of $371.0M left free cash flow of $1.64B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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