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MARKETS / NYSE / YUMC
NYSE · RETAIL-EATING PLACES · LARGE CAP

Yum China Holdings, Inc. YUMC

12 fiscal years on record · USD · FY2025 reported · SEC filings only
3 YEARS OF DIVIDEND GROWTH
$11.8B
▲ 4.4% YoY
$929.0M
▲ 2.0% YoY
$840.0M
▲ 17.6% YoY
In brief

What this company does

Yum China holds the exclusive right to operate and sublicense the KFC and Pizza Hut brands, and, subject to agreed terms, the Taco Bell brand, in China excluding Hong Kong, Macau and Taiwan. The Company reported $11.8 billion of revenues in 2025 from a network of 18,101 restaurants as of December 31, 2025. As of December 31, 2025, Yum China owned and operated approximately 83% of its restaurants. Yum China's restaurant network comprises its KFC and Pizza Hut brands, together with the emerging Lavazza, Huang Ji Huang, Little Sheep and Taco Bell concepts. KFC, founded in Corbin, Kentucky by Colonel Harland D. Sanders in 1939, opened its first restaurant in Beijing in 1987 and had grown to 12,997 restaurants in over 2,500 cities across China by the end of 2025. Pizza Hut opened its first restaurant in Beijing in 1990 and had grown to 4,168 restaurants in over 1,000 cities across China by year-end 2025. Yum China was incorporated in Delaware on April 1, 2016 and separated from YUM on October 31, 2016, becoming an independent, publicly traded company through a pro rata distribution of its common stock to YUM shareholders.

Written from the business description in Yum China Holdings, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth
USD 11.8B
Revenue, FY2025 · full 12-year series below
Revenue $B Net income $B
FY2025 · Revenue 11.8 · Net income 0.9
4B8B2014201620182020202220242025
Compound annual growth
+7.2%
+7.4%
+5.5%
+28.1%
+3.5%
+11.1%
+34.1%
+5.2%
+10.9%
+26.0%
+32.0%
+30.9%
+73.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +7.4% a year over five years — but profit grew slower: net income at +3.5%, earnings per share at +5.2%.

The share count fell from 0.42B to 0.35B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
9 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 10.9% · Net 8.5%
5%10%2014201620182020202220242025
ROE
FY2025 · ROE 16.7%
10%20%2014201620182020202220242025

Each USD of equity produced 17 cents of profit this year.

Cash & shareholders
USD 1.5B
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 840.0
400M800M2014201620182020202220242025
Net buybacks $B Dividends $B
FY2025 · Dividends 0.4 · Net buybacks 1.1
0.5B1.0B-0.8B-1.6BDividendsNet buybacks201720182019202020212022202320242025

USD 353.0M in dividends and USD 1.1B in buybacks — 161% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 10.8B
EquityUSD 5.4B
CashUSD 506.0M
Gross debtUSD 30.0M
Net debtUSD -476.0M
Current ratio1.05×

The company holds more cash than debt.

The 12-year record
12 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017201620152014
Revenue $B11.811.311.09.69.98.38.88.47.87.16.96.9
Operating income $B1.31.21.10.61.41.00.90.90.80.60.50.0
EBITDA $B1.71.61.61.21.91.41.31.41.21.00.90.4
Income tax $B0.40.40.30.20.40.30.30.20.40.20.20.1
Net income $B0.90.90.80.41.00.80.70.70.40.50.3−0.0
Free cash flow $B0.80.70.80.70.40.70.80.90.50.40.40.2
EPS, diluted $2.512.331.971.042.281.951.841.791.001.350.89−0.02
Dividend / sh $0.960.640.520.480.480.240.480.420.10···
Payout %382726462112252310···
ROE %16.715.012.86.514.916.924.025.115.523.216.8·
Shares out B0.350.380.410.420.430.420.380.380.390.38··

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures in 46 reconciliationsAUDITED

Reconciled in 12 of 19 fiscal years. 45 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityRetail-Eating Places
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2014

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