YUMCNYSERetail-Eating PlacesFiscal year ends December 31
Yum China Holdings, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026
$45.01−0.11 (-0.24%)
Close on Oct 19, 2026
- Market cap
- $15.71B
- P/E (TTM)
- 16.5
- Dividend yield
- 2.13%
Margins
Share of revenue, fiscal years 2013 to 2025
Gross margin
–
Operating margin
10.9%−0.7 pts over 5 years
Net margin
7.9%−1.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +4.4% | +7.2% | +7.4% | +5.5% | |
| Operating income | +11.0% | +27.1% | +6.1% | +10.2% | |
| Net income | +2.0% | +28.1% | +3.5% | +11.1% | |
| EPS, diluted | +7.7% | +34.1% | +5.2% | +10.9% | |
| Free cash flow | +17.6% | +4.6% | +3.9% | +7.7% | |
| Dividend per share | +50.0% | +26.0% | +32.0% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 23.2% | 16.9% | 16.7% | |
| Return on assets | 14.4% | 8.8% | 8.5% | |
| Current ratio | 1.42 | 2.39 | 1.05 | |
| Inventory turnover | 24.6× | – | – | |
| Capex to revenue | 6.2% | 5.1% | 5.3% | |
| Diluted shares | 369M | 402M | 371M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Yum China generated $6.90B from operations and spent $8.18B on capital expenditure, dividends and share buybacks. 42% of that went back into the business.
Generated
$6.90B
Used
$8.18B
Capital expenditure$3.41B42%Dividends$1.22B15%Share buybacks$3.55B43%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin7.9%
×Asset turnover1.08×
×Equity multiplier1.97×
=Return on equity, FY202516.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 7.9% | 1.08× | 1.97× | 16.7% |
| FY2024 | 8.1% | 0.98× | 1.91× | 15.0% |
| FY2023 | 7.5% | 0.92× | 1.85× | 12.8% |
| FY2022 | 4.6% | 0.76× | 1.85× | 6.5% |
| FY2021 | 10.0% | 0.82× | 1.82× | 14.9% |
| FY2020 | 9.5% | 0.93× | 1.92× | 16.9% |
| FY2019 | 8.1% | 1.52× | 1.94× | 24.0% |
| FY2018 | 8.4% | 1.89× | 1.58× | 25.1% |
| FY2017 | 5.1% | 1.94× | 1.56× | 15.5% |
| FY2016 | 7.0% | 2.04× | 1.61× | 23.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$929.00M
- Cash generatingOperating cash flow above zero$1.47B
- Return on assets improvedROA up on the prior year7.6% → 8.4%
- Earnings backed by cashOperating cash flow above net income$1.47B vs $929.00M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.18 → 1.05
- No dilutionShare count did not rise390M → 371M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.94 → 1.06