Yum Brands Financials

YUM

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Yum Brands (YUM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 59/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Yum Brands has an operating margin of 31.3%, meaning the company retains $31 of operating profit per $100 of revenue. This strong profitability earns a score of 92/100, reflecting efficient cost management and pricing power. This is down from 31.8% the prior year.

Growth

Yum Brands's revenue grew 8.8% year-over-year to $8.2B, a solid pace of expansion. This earns a growth score of 48/100.

Liquidity

Yum Brands's current ratio of 1.35 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 22/100, which could limit financial flexibility.

Cash Flow

Yum Brands converts 20.0% of revenue into free cash flow ($1.6B). This strong cash generation earns a score of 75/100.

Altman Z-Score Grey Zone

2.57

Yum Brands scores 2.57, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($42.7B) relative to total liabilities ($15.5B). This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral

4/9

Yum Brands passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.29x

For every $1 of reported earnings, Yum Brands generates $1.29 in operating cash flow ($2.0B OCF vs $1.6B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

4.7x

Yum Brands earns $4.7 in operating income for every $1 of interest expense ($2.6B vs $544.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$8.2B

YoY+8.8%

5Y CAGR+7.8%

10Y CAGR+2.5%

Yum Brands generated $8.2B in revenue in fiscal year 2025. This represents an increase of 8.8% from the prior year.

EBITDA

$2.8B

YoY+7.8%

5Y CAGR+11.0%

10Y CAGR+4.7%

Yum Brands's EBITDA was $2.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 7.8% from the prior year.

Net Income

$1.6B

YoY+4.9%

5Y CAGR+11.5%

10Y CAGR+2.0%

Yum Brands reported $1.6B in net income in fiscal year 2025. This represents an increase of 4.9% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$1.6B

YoY+14.5%

5Y CAGR+7.4%

10Y CAGR+3.5%

Yum Brands generated $1.6B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 14.5% from the prior year.

Cash & Debt

$709.0M

YoY+15.1%

5Y CAGR-0.6%

10Y CAGR-0.4%

Yum Brands held $709.0M in cash against $11.9B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

69.8%

YoY-2.1pp

5Y CAGR-3.6pp

10Y CAGR+115.6pp

Yum Brands's gross margin was 69.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.1 percentage points from the prior year.

Operating Margin

31.3%

YoY-0.5pp

5Y CAGR+4.7pp

10Y CAGR+9.0pp

Yum Brands's operating margin was 31.3% in fiscal year 2025, reflecting core business profitability. This is down 0.5 percentage points from the prior year.

Net Margin

19.0%

YoY-0.7pp

5Y CAGR+3.0pp

10Y CAGR-1.0pp

Yum Brands's net profit margin was 19.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.7 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

$552.0M

YoY+25.2%

5Y CAGR+18.2%

10Y CAGR-7.5%

Yum Brands spent $552.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 25.2% from the prior year.

Capital Expenditures

$371.0M

YoY+44.4%

5Y CAGR+18.3%

10Y CAGR-9.2%

Yum Brands invested $371.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 44.4% from the prior year.

YUM Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$8.2B+8.8%	$7.5B+6.7%	$7.1B+3.4%	$6.8B+3.9%	$6.6B+16.5%	$5.7B
Cost of Revenue	$2.5B+17.1%	$2.1B+19.5%	$1.8B+1.7%	$1.7B+1.2%	$1.7B+14.5%	$1.5B
Gross Profit	$5.7B+5.6%	$5.4B+2.4%	$5.3B+4.0%	$5.1B+4.9%	$4.9B+17.2%	$4.1B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.3B+6.9%	$1.2B-1.0%	$1.2B+4.6%	$1.1B+7.5%	$1.1B-0.4%	$1.1B
Operating Income	$2.6B+7.1%	$2.4B+3.7%	$2.3B+6.0%	$2.2B+2.2%	$2.1B+42.3%	$1.5B
Interest Expense	$544.0M+0.4%	$542.0M-10.0%	$602.0M+7.9%	$558.0M+1.3%	$551.0M-1.3%	$558.0M
Income Tax	$518.0M+25.1%	$414.0M+87.3%	$221.0M-34.4%	$337.0M+240.4%	$99.0M-14.7%	$116.0M
Net Income	$1.6B+4.9%	$1.5B-7.0%	$1.6B+20.5%	$1.3B-15.9%	$1.6B+74.2%	$904.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$2.5B+27.1%	$2.0B+2.4%	$1.9B+8.2%	$1.8B-24.3%	$2.4B+29.4%	$1.8B+3.6%	$1.8B+10.3%	$1.6B
Cost of Revenue	$816.0M+39.0%	$587.0M+4.8%	$560.0M+7.7%	$520.0M-28.5%	$727.0M+39.0%	$523.0M+11.3%	$470.0M+17.5%	$400.0M
Gross Profit	$1.7B+22.1%	$1.4B+1.4%	$1.4B+8.4%	$1.3B-22.5%	$1.6B+25.5%	$1.3B+0.8%	$1.3B+7.9%	$1.2B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$376.0M+33.3%	$282.0M-6.6%	$302.0M0.0%	$302.0M-14.0%	$351.0M+33.5%	$263.0M-6.4%	$281.0M-1.7%	$286.0M
Operating Income	$738.0M+10.8%	$666.0M+7.1%	$622.0M+13.5%	$548.0M-16.6%	$657.0M+6.1%	$619.0M+2.0%	$607.0M+16.7%	$520.0M
Interest Expense	$911.0M+834.7%	-$124.0M-0.8%	-$123.0M-2.5%	-$120.0M-113.3%	$900.0M+850.0%	-$120.0M+0.8%	-$121.0M-3.4%	-$117.0M
Income Tax	$73.0M-49.3%	$144.0M+15.2%	$125.0M-29.0%	$176.0M+67.6%	$105.0M-12.5%	$120.0M0.0%	$120.0M+73.9%	$69.0M
Net Income	$535.0M+34.8%	$397.0M+6.1%	$374.0M+47.8%	$253.0M-40.2%	$423.0M+10.7%	$382.0M+4.1%	$367.0M+16.9%	$314.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

YUM Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$8.2B+21.9%	$6.7B+8.0%	$6.2B+6.6%	$5.8B-2.0%	$6.0B+1.9%	$5.9B
Current Assets	$2.0B+9.0%	$1.9B+16.3%	$1.6B0.0%	$1.6B+5.0%	$1.5B-9.3%	$1.7B
Cash & Equivalents	$709.0M+15.1%	$616.0M+20.3%	$512.0M+39.5%	$367.0M-24.5%	$486.0M-33.4%	$730.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$969.0M+31.7%	$736.0M+14.6%	$642.0M+0.6%	$638.0M-2.9%	$657.0M+10.1%	$597.0M
Total Liabilities	$15.5B+8.0%	$14.4B+2.0%	$14.1B-4.3%	$14.7B+2.7%	$14.3B+4.3%	$13.7B
Current Liabilities	$1.5B+19.5%	$1.3B-0.6%	$1.3B-23.3%	$1.7B+17.7%	$1.4B-15.5%	$1.7B
Long-Term Debt	$11.9B+5.0%	$11.3B+1.5%	$11.1B-2.7%	$11.5B+2.5%	$11.2B+8.8%	$10.3B
Total Equity	-$7.3B+4.2%	-$7.6B+2.7%	-$7.9B+11.5%	-$8.9B-6.0%	-$8.4B-6.1%	-$7.9B
Retained Earnings	-$7.0B+3.3%	-$7.3B+4.7%	-$7.6B+10.5%	-$8.5B-5.7%	-$8.0B-7.6%	-$7.5B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$8.2B+14.0%	$7.2B+4.0%	$6.9B+3.9%	$6.7B-1.0%	$6.7B+4.1%	$6.5B+1.0%	$6.4B+2.7%	$6.2B
Current Assets	$2.0B-7.4%	$2.2B+20.7%	$1.8B+5.7%	$1.7B-7.7%	$1.9B+15.1%	$1.6B-0.6%	$1.6B-7.8%	$1.8B
Cash & Equivalents	$709.0M-32.2%	$1.0B+54.4%	$677.0M+11.5%	$607.0M-1.5%	$616.0M+34.8%	$457.0M+13.1%	$404.0M-38.0%	$652.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$969.0M+24.4%	$779.0M-1.6%	$792.0M+6.2%	$746.0M+1.4%	$736.0M+0.1%	$735.0M+2.4%	$718.0M+12.0%	$641.0M
Total Liabilities	$15.5B+5.6%	$14.7B+0.7%	$14.6B+0.9%	$14.5B+0.6%	$14.4B+1.7%	$14.1B+0.8%	$14.0B+0.3%	$14.0B
Current Liabilities	$1.5B+16.5%	$1.3B-41.6%	$2.2B+81.1%	$1.2B-3.0%	$1.3B+7.0%	$1.2B+4.4%	$1.1B-4.4%	$1.2B
Long-Term Debt	$11.9B+3.2%	$11.5B+10.4%	$10.4B-8.0%	$11.3B+0.2%	$11.3B+1.2%	$11.2B+0.3%	$11.1B+0.1%	$11.1B
Total Equity	-$7.3B+2.4%	-$7.5B+2.3%	-$7.7B+1.6%	-$7.8B-2.0%	-$7.6B+0.3%	-$7.7B-0.6%	-$7.6B+1.6%	-$7.8B
Retained Earnings	-$7.0B+2.4%	-$7.2B+2.4%	-$7.4B+1.0%	-$7.4B-2.5%	-$7.3B+1.8%	-$7.4B-0.9%	-$7.3B+2.3%	-$7.5B

YUM Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$2.0B+19.0%	$1.7B+5.4%	$1.6B+12.3%	$1.4B-16.4%	$1.7B+30.7%	$1.3B
Capital Expenditures	$371.0M+44.4%	$257.0M-9.8%	$285.0M+2.2%	$279.0M+21.3%	$230.0M+43.8%	$160.0M
Free Cash Flow	$1.6B+14.5%	$1.4B+8.6%	$1.3B+14.8%	$1.1B-22.2%	$1.5B+28.9%	$1.1B
Investing Cash Flow	-$1.0B-137.7%	-$422.0M-294.4%	-$107.0M+47.0%	-$202.0M-16.8%	-$173.0M+48.4%	-$335.0M
Financing Cash Flow	-$924.0M+20.6%	-$1.2B+18.6%	-$1.4B-8.0%	-$1.3B+25.1%	-$1.8B-139.4%	-$738.0M
Dividends Paid	$789.0M+4.9%	$752.0M+10.9%	$678.0M+4.5%	$649.0M+9.6%	$592.0M+4.6%	$566.0M
Share Buybacks	$552.0M+25.2%	$441.0M+782.0%	$50.0M-95.8%	$1.2B-24.6%	$1.6B+565.7%	$239.0M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$617.0M+13.6%	$543.0M+21.7%	$446.0M+10.4%	$404.0M-21.2%	$513.0M+8.9%	$471.0M+37.7%	$342.0M-5.8%	$363.0M
Capital Expenditures	$135.0M+43.6%	$94.0M+32.4%	$71.0M0.0%	$71.0M-33.0%	$106.0M+103.8%	$52.0M+4.0%	$50.0M+2.0%	$49.0M
Free Cash Flow	$482.0M+7.3%	$449.0M+19.7%	$375.0M+12.6%	$333.0M-18.2%	$407.0M-2.9%	$419.0M+43.5%	$292.0M-7.0%	$314.0M
Investing Cash Flow	-$795.0M-919.2%	-$78.0M+40.9%	-$132.0M-6700.0%	$2.0M+101.5%	-$130.0M-233.3%	-$39.0M+86.9%	-$298.0M-762.2%	$45.0M
Financing Cash Flow	-$102.0M-25.9%	-$81.0M+72.8%	-$298.0M+32.7%	-$443.0M-157.6%	-$172.0M+61.3%	-$444.0M-48.0%	-$300.0M-21.5%	-$247.0M
Dividends Paid	$197.0M0.0%	$197.0M0.0%	$197.0M-0.5%	$198.0M+5.9%	$187.0M-0.5%	$188.0M0.0%	$188.0M-0.5%	$189.0M
Share Buybacks	$178.0M+394.4%	$36.0M-67.0%	$109.0M-52.4%	$229.0M+100.9%	$114.0M-58.8%	$277.0M+454.0%	$50.0M	$0

YUM Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	69.8%-2.1pp	71.9%-3.0pp	74.9%+0.4pp	74.5%+0.7pp	73.8%+0.4pp	73.4%
Operating Margin	31.3%-0.5pp	31.8%-0.9pp	32.8%+0.8pp	32.0%-0.5pp	32.5%+5.9pp	26.6%
Net Margin	19.0%-0.7pp	19.7%-2.9pp	22.6%+3.2pp	19.4%-4.5pp	23.9%+7.9pp	16.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	19.0%-3.1pp	22.1%-3.5pp	25.6%+3.0pp	22.7%-3.7pp	26.4%+11.0pp	15.4%
Current Ratio	1.35-0.1	1.47+0.2	1.26+0.3	0.97-0.1	1.08+0.1	1.01
Debt-to-Equity	-1.62-0.1	-1.48-0.1	-1.42-0.1	-1.29+0.0	-1.33-0.0	-1.30
FCF Margin	20.0%+1.0pp	19.0%+0.3pp	18.6%+1.8pp	16.8%-5.6pp	22.4%+2.2pp	20.3%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	67.5%-2.8pp	70.3%-0.7pp	71.0%+0.1pp	70.9%+1.7pp	69.2%-2.1pp	71.4%-2.0pp	73.3%-1.6pp	75.0%
Operating Margin	29.3%-4.3pp	33.7%+1.5pp	32.2%+1.5pp	30.7%+2.8pp	27.8%-6.1pp	33.9%-0.5pp	34.4%+1.9pp	32.5%
Net Margin	21.3%+1.2pp	20.1%+0.7pp	19.4%+5.2pp	14.2%-3.8pp	17.9%-3.0pp	20.9%+0.1pp	20.8%+1.2pp	19.7%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	6.5%+1.0pp	5.5%+0.1pp	5.4%+1.6pp	3.8%-2.5pp	6.3%+0.4pp	5.9%+0.2pp	5.7%+0.7pp	5.0%
Current Ratio	1.35-0.3	1.69+0.9	0.82-0.6	1.40-0.1	1.47+0.1	1.37-0.1	1.44-0.1	1.49
Debt-to-Equity	-1.62-0.1	-1.53-0.2	-1.36+0.1	-1.45+0.0	-1.48-0.0	-1.460.0	-1.46-0.0	-1.44
FCF Margin	19.2%-3.5pp	22.7%+3.3pp	19.4%+0.8pp	18.6%+1.4pp	17.2%-5.7pp	22.9%+6.4pp	16.6%-3.1pp	19.7%

Note: Shareholder equity is negative (-$7.3B), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Frequently Asked Questions

What is Yum Brands's annual revenue?

Yum Brands (YUM) reported $8.2B in total revenue for fiscal year 2025. This represents a 8.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Yum Brands's revenue growing?

Yum Brands (YUM) revenue grew by 8.8% year-over-year, from $7.5B to $8.2B in fiscal year 2025.

Is Yum Brands profitable?

Yes, Yum Brands (YUM) reported a net income of $1.6B in fiscal year 2025, with a net profit margin of 19.0%.

What is Yum Brands's EBITDA?

Yum Brands (YUM) had EBITDA of $2.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Yum Brands have?

As of fiscal year 2025, Yum Brands (YUM) had $709.0M in cash and equivalents against $11.9B in long-term debt.

What is Yum Brands's gross margin?

Yum Brands (YUM) had a gross margin of 69.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Yum Brands's operating margin?

Yum Brands (YUM) had an operating margin of 31.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Yum Brands's net profit margin?

Yum Brands (YUM) had a net profit margin of 19.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Yum Brands's free cash flow?

Yum Brands (YUM) generated $1.6B in free cash flow during fiscal year 2025. This represents a 14.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Yum Brands's operating cash flow?

Yum Brands (YUM) generated $2.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Yum Brands's total assets?

Yum Brands (YUM) had $8.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Yum Brands's capital expenditures?

Yum Brands (YUM) invested $371.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Yum Brands buy back shares?

Yes, Yum Brands (YUM) spent $552.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is Yum Brands's current ratio?

Yum Brands (YUM) had a current ratio of 1.35 as of fiscal year 2025, which is considered adequate.

What is Yum Brands's debt-to-equity ratio?

Yum Brands (YUM) had a debt-to-equity ratio of -1.62 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Yum Brands's return on assets (ROA)?

Yum Brands (YUM) had a return on assets of 19.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Why is Yum Brands's debt-to-equity ratio negative or unusual?

Yum Brands (YUM) has negative shareholder equity of -$7.3B as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Yum Brands's Altman Z-Score?

Yum Brands (YUM) has an Altman Z-Score of 2.57, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Yum Brands's Piotroski F-Score?

Yum Brands (YUM) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Yum Brands's earnings high quality?

Yum Brands (YUM) has an earnings quality ratio of 1.29x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Yum Brands cover its interest payments?

Yum Brands (YUM) has an interest coverage ratio of 4.7x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Yum Brands?

Yum Brands (YUM) scores 59 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.