QSP vs YUMC
Restaurant Brands International Limited Partnership and Yum China Holdings, Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | QSP | YUMC |
|---|---|---|
| Revenue | $9.4B | $11.8B |
| Net income | $1.1B | $929.0M |
| Gross margin | · | · |
| Net margin | 11.4% | 8.5% |
| Return on equity | 21.5% | 16.7% |
| Diluted EPS | · | $2.51 |
| Dividend / share | · | $0.96 |
| Payout ratio | 103.1% | 38.0% |
| Free cash flow | $1.4B | $840.0M |
| Equity | · | $5.4B |
| Net debt / equity | 2.35× | −0.09× |
| Current ratio | 0.98× | 1.05× |
| Revenue CAGR 5y | 13.7% | 7.4% |
| Profit CAGR 5y | 7.5% | 3.5% |
YUMC bills 1.3× the revenue of QSP, and QSP keeps more of each dollar of revenue as profit (11.4% against 8.5%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | QSP | YUMC |
|---|---|---|
| FY2025 | $9.4B | $11.8B |
| FY2024 | $8.4B | $11.3B |
| FY2023 | $7.0B | $11.0B |
| FY2022 | $6.5B | $9.6B |
| FY2021 | $5.7B | $9.9B |
| FY2020 | $5.0B | $8.3B |
| FY2019 | $5.6B | $8.8B |
| FY2018 | $5.4B | $8.4B |
| FY2017 | $4.6B | $7.8B |
| FY2016 | $4.1B | $7.1B |
Bottom line
| Fiscal year | QSP | YUMC |
|---|---|---|
| FY2025 | $1.1B | $929.0M |
| FY2024 | $1.4B | $911.0M |
| FY2023 | $1.7B | $827.0M |
| FY2022 | $1.5B | $442.0M |
| FY2021 | $1.3B | $990.0M |
| FY2020 | $750.0M | $784.0M |
| FY2019 | $1.1B | $713.0M |
| FY2018 | $1.1B | $708.0M |
| FY2017 | $1.2B | $398.0M |
| FY2016 | $956.0M | $498.0M |
12 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$2,363,000,000 | YUMC |
| FY2024 | −$2,897,000,000 | YUMC |
| FY2023 | −$3,956,000,000 | YUMC |
| FY2022 | −$3,064,000,000 | YUMC |
| FY2021 | −$4,114,000,000 | YUMC |
| FY2020 | −$3,295,000,000 | YUMC |
| FY2019 | −$3,173,000,000 | YUMC |
| FY2018 | −$3,058,000,000 | YUMC |
| FY2017 | −$3,193,000,000 | YUMC |
| FY2016 | −$2,929,000,000 | YUMC |
| FY2015 | −$2,856,800,000 | YUMC |
| FY2014 | −$5,735,200,000 | YUMC |
YUMC has reported the higher revenue in every one of these 12 fiscal years. The gap has narrowed since the earliest year compared.
12 of 14 comparable fiscal years — a year missing data on either side is not counted.
12 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +2.9 pp | QSP |
| FY2024 | +8.5 pp | QSP |
| FY2023 | +16.3 pp | QSP |
| FY2022 | +17.8 pp | QSP |
| FY2021 | +11.5 pp | QSP |
| FY2020 | +5.3 pp | QSP |
| FY2019 | +11.4 pp | QSP |
| FY2018 | +12.6 pp | QSP |
| FY2017 | +21.5 pp | QSP |
| FY2016 | +15.8 pp | QSP |
| FY2015 | +7.9 pp | QSP |
| FY2014 | −21.9 pp | YUMC |
The higher net margin has changed hands between QSP and YUMC over this period.
12 of 14 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
QSP's net margin has been more volatile than YUMC's over the 12 comparable fiscal years — 12.5 percentage points of standard deviation against 2.9.
12 of 14 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between QSP and YUMC over these 12 fiscal years — QSP led in 11 and YUMC in 1.
12 of 14 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
QSP's return on equity has been more volatile than YUMC's over the 11 comparable fiscal years — 7.0 percentage points of standard deviation against 5.1.
11 of 14 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between QSP and YUMC over these 11 fiscal years — QSP led in 10 and YUMC in 1.
11 of 14 comparable fiscal years — a year missing data on either side is not counted.