Yum China Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Yum China has an operating margin of 10.3%, meaning the company retains $10 of operating profit per $100 of revenue. This results in a moderate score of 51/100, indicating healthy but not exceptional operating efficiency. This is up from 10.1% the prior year.
Yum China's revenue grew a modest 3.0% year-over-year to $11.3B. This slow but positive growth earns a score of 37/100.
Yum China carries a low D/E ratio of 0.82, meaning only $0.82 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 81/100, indicating a strong balance sheet with room for future borrowing.
Yum China's current ratio of 1.18 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 27/100, which could limit financial flexibility.
Yum China has a free cash flow margin of 6.3%, earning a moderate score of 32/100. The company generates positive cash flow after capital investments, but with room for improvement.
Yum China's ROE of 15.9% shows moderate profitability relative to equity, earning a score of 64/100. This is up from 12.9% the prior year.
Yum China scores 4.17, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($19.6B) relative to total liabilities ($4.7B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Yum China passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Yum China generates $1.56 in operating cash flow ($1.4B OCF vs $911.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Yum China earns $9.0 in operating income for every $1 of interest expense ($1.2B vs $129.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
This page shows Yum China (YUMC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).
Key Financial Metrics
Yum China generated $11.3B in revenue in fiscal year 2024. This represents an increase of 3.0% from the prior year.
Yum China's EBITDA was $1.6B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 5.1% from the prior year.
Yum China generated $714.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 6.4% from the prior year.
Yum China reported $911.0M in net income in fiscal year 2024. This represents an increase of 10.2% from the prior year.
Yum China earned $2.33 per diluted share (EPS) in fiscal year 2024. This represents an increase of 18.3% from the prior year.
Yum China held $723.0M in cash against $0 in long-term debt as of fiscal year 2024.
Yum China paid $0.64 per share in dividends in fiscal year 2024. This represents an increase of 23.1% from the prior year.
Yum China had 378M shares outstanding in fiscal year 2024. This represents a decrease of 7.1% from the prior year.
Yum China's operating margin was 10.3% in fiscal year 2024, reflecting core business profitability. This is up 0.2 percentage points from the prior year.
Yum China's net profit margin was 8.1% in fiscal year 2024, showing the share of revenue converted to profit. This is up 0.5 percentage points from the prior year.
Yum China's ROE was 15.9% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 3.0 percentage points from the prior year.
Yum China invested $6.0M in research and development in fiscal year 2024. This represents an increase of 0.0% from the prior year.
Yum China spent $1.2B on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 103.8% from the prior year.
Yum China invested $705.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 0.7% from the prior year.
YUMC Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.2B+15.0% | $2.8B-6.5% | $3.0B+14.9% | $2.6B-3.1% | $2.7B-9.4% | $3.0B+18.7% | $2.5B-14.4% | $2.9B |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $143.0M+9.2% | $131.0M-5.1% | $138.0M-11.5% | $156.0M+17.3% | $133.0M-5.0% | $140.0M-8.5% | $153.0M-9.5% | $169.0M |
| Operating Income | $400.0M+31.6% | $304.0M-23.8% | $399.0M+164.2% | $151.0M-43.2% | $266.0M-28.9% | $374.0M+240.0% | $110.0M-65.9% | $323.0M |
| Interest Expense | $23.0M-8.0% | $25.0M-3.8% | $26.0M-10.3% | $29.0M-6.5% | $31.0M-18.4% | $38.0M-15.6% | $45.0M-2.2% | $46.0M |
| Income Tax | $114.0M+42.5% | $80.0M-32.8% | $119.0M+153.2% | $47.0M-39.0% | $77.0M-31.9% | $113.0M+242.4% | $33.0M-67.0% | $100.0M |
| Net Income | $282.0M+31.2% | $215.0M-26.4% | $292.0M+153.9% | $115.0M-45.8% | $212.0M-26.1% | $287.0M+195.9% | $97.0M-60.2% | $244.0M |
| EPS (Diluted) | $0.76+31.0% | $0.58-24.7% | $0.77+156.7% | $0.30-45.5% | $0.55-22.5% | $0.71+195.8% | $0.24-58.6% | $0.58 |
YUMC Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $11.0B+0.5% | $11.0B-0.2% | $11.0B-1.1% | $11.1B-3.9% | $11.6B+2.4% | $11.3B-6.1% | $12.0B-0.3% | $12.1B |
| Current Assets | $3.0B+0.8% | $3.0B+8.8% | $2.8B+2.1% | $2.7B-17.9% | $3.3B+4.0% | $3.2B-8.0% | $3.4B-12.5% | $3.9B |
| Cash & Equivalents | $648.0M+9.5% | $592.0M-28.2% | $825.0M+14.1% | $723.0M-30.7% | $1.0B+18.1% | $883.0M-21.7% | $1.1B-0.3% | $1.1B |
| Inventory | $389.0M+8.1% | $360.0M+9.4% | $329.0M-18.8% | $405.0M+11.9% | $362.0M+4.9% | $345.0M-18.6% | $424.0M+1.2% | $419.0M |
| Accounts Receivable | $86.0M-8.5% | $94.0M+16.0% | $81.0M+2.5% | $79.0M+6.8% | $74.0M0.0% | $74.0M+8.8% | $68.0M+9.7% | $62.0M |
| Goodwill | $1.9B+0.6% | $1.9B+1.3% | $1.9B+0.6% | $1.9B-0.4% | $1.9B-0.6% | $1.9B-1.7% | $1.9B+2.8% | $1.9B |
| Total Liabilities | $4.6B+3.0% | $4.5B-1.1% | $4.6B-2.8% | $4.7B-7.7% | $5.1B+8.1% | $4.7B-4.2% | $4.9B+2.1% | $4.8B |
| Current Liabilities | $2.3B+5.9% | $2.2B-1.5% | $2.2B-4.1% | $2.3B-14.7% | $2.7B+18.3% | $2.3B-6.6% | $2.4B-2.0% | $2.5B |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $5.7B-1.7% | $5.8B+0.1% | $5.8B+1.0% | $5.7B-1.4% | $5.8B-0.9% | $5.9B-8.4% | $6.4B-2.5% | $6.6B |
| Retained Earnings | $2.0B-2.8% | $2.1B-0.7% | $2.1B+1.7% | $2.1B+2.0% | $2.0B-1.4% | $2.1B-10.0% | $2.3B-8.6% | $2.5B |
YUMC Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $477.0M+15.8% | $412.0M-8.8% | $452.0M+170.7% | $167.0M-58.4% | $401.0M-9.3% | $442.0M+218.0% | $139.0M-66.1% | $410.0M |
| Capital Expenditures | $126.0M+3.3% | $122.0M-10.9% | $137.0M-24.7% | $182.0M+7.7% | $169.0M-10.6% | $189.0M-10.4% | $211.0M+26.3% | $167.0M |
| Free Cash Flow | $351.0M+21.0% | $290.0M-7.9% | $315.0M+2200.0% | -$15.0M-106.5% | $232.0M-8.3% | $253.0M+451.4% | -$72.0M-129.6% | $243.0M |
| Investing Cash Flow | -$26.0M+88.1% | -$218.0M-202.8% | -$72.0M+52.0% | -$150.0M+35.1% | -$231.0M-333.3% | $99.0M-68.0% | $309.0M+168.1% | -$454.0M |
| Financing Cash Flow | -$398.0M+7.2% | -$429.0M-53.2% | -$280.0M+41.3% | -$477.0M-5200.0% | -$9.0M+98.8% | -$776.0M-63.0% | -$476.0M-4660.0% | -$10.0M |
| Dividends Paid | $88.0M-2.2% | $90.0M0.0% | $90.0M+47.5% | $61.0M-1.6% | $62.0M-3.1% | $64.0M+18.5% | $54.0M0.0% | $54.0M |
| Share Buybacks | $324.0M+66.2% | $195.0M+12.7% | $173.0M-9.9% | $192.0M+1.1% | $190.0M-72.0% | $679.0M+103.9% | $333.0M+110.8% | $158.0M |
YUMC Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 12.5%+1.6pp | 10.9%-2.5pp | 13.4%+7.6pp | 5.8%-4.1pp | 9.9%-2.7pp | 12.6%+8.2pp | 4.4%-6.7pp | 11.1% |
| Net Margin | 8.8%+1.1pp | 7.7%-2.1pp | 9.8%+5.4pp | 4.4%-3.5pp | 7.9%-1.8pp | 9.7%+5.8pp | 3.9%-4.5pp | 8.4% |
| Return on Equity | 5.0%+1.2pp | 3.7%-1.3pp | 5.1%+3.0pp | 2.0%-1.6pp | 3.6%-1.2pp | 4.9%+3.4pp | 1.5%-2.2pp | 3.7% |
| Return on Assets | 2.6%+0.6pp | 2.0%-0.7pp | 2.6%+1.6pp | 1.0%-0.8pp | 1.8%-0.7pp | 2.5%+1.7pp | 0.8%-1.2pp | 2.0% |
| Current Ratio | 1.32-0.1 | 1.39+0.1 | 1.26+0.1 | 1.18-0.0 | 1.23-0.2 | 1.39-0.0 | 1.42-0.2 | 1.59 |
| Debt-to-Equity | 0.82+0.0 | 0.780.0 | 0.79-0.0 | 0.82-0.1 | 0.88+0.1 | 0.80+0.0 | 0.77+0.0 | 0.73 |
| FCF Margin | 10.9%+0.5pp | 10.4%-0.2pp | 10.6%+11.2pp | -0.6%-9.2pp | 8.7%+0.1pp | 8.6%+11.4pp | -2.9%-11.2pp | 8.3% |
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Frequently Asked Questions
What is Yum China's annual revenue?
Yum China (YUMC) reported $11.3B in total revenue for fiscal year 2024. This represents a 3.0% 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 China's revenue growing?
Yum China (YUMC) revenue grew by 3% year-over-year, from $11.0B to $11.3B in fiscal year 2024.
Is Yum China profitable?
Yes, Yum China (YUMC) reported a net income of $911.0M in fiscal year 2024, with a net profit margin of 8.1%.
What is Yum China's earnings per share (EPS)?
Yum China (YUMC) reported diluted earnings per share of $2.33 for fiscal year 2024. This represents a 18.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Yum China's EBITDA?
Yum China (YUMC) had EBITDA of $1.6B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Yum China's operating margin?
Yum China (YUMC) had an operating margin of 10.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Yum China's net profit margin?
Yum China (YUMC) had a net profit margin of 8.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Yum China pay dividends?
Yes, Yum China (YUMC) paid $0.64 per share in dividends during fiscal year 2024.
What is Yum China's return on equity (ROE)?
Yum China (YUMC) has a return on equity of 15.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Yum China's free cash flow?
Yum China (YUMC) generated $714.0M in free cash flow during fiscal year 2024. This represents a -6.4% 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 China's operating cash flow?
Yum China (YUMC) generated $1.4B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Yum China's total assets?
Yum China (YUMC) had $11.1B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Yum China's capital expenditures?
Yum China (YUMC) invested $705.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Yum China spend on research and development?
Yum China (YUMC) invested $6.0M in research and development during fiscal year 2024.
Does Yum China buy back shares?
Yes, Yum China (YUMC) spent $1.2B on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Yum China have outstanding?
Yum China (YUMC) had 378M shares outstanding as of fiscal year 2024.
What is Yum China's current ratio?
Yum China (YUMC) had a current ratio of 1.18 as of fiscal year 2024, which is considered adequate.
What is Yum China's debt-to-equity ratio?
Yum China (YUMC) had a debt-to-equity ratio of 0.82 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Yum China's return on assets (ROA)?
Yum China (YUMC) had a return on assets of 8.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Yum China's Altman Z-Score?
Yum China (YUMC) has an Altman Z-Score of 4.17, placing it in the Safe Zone (low bankruptcy 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 China's Piotroski F-Score?
Yum China (YUMC) has a Piotroski F-Score of 6 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 China's earnings high quality?
Yum China (YUMC) has an earnings quality ratio of 1.56x, 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 China cover its interest payments?
Yum China (YUMC) has an interest coverage ratio of 9.0x, meaning it can comfortably 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 China?
Yum China (YUMC) scores 49 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.