Yum China
Operator of KFC, Pizza Hut and localized restaurant concepts across mainland China.
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Profile
Operates KFC and Pizza Hut restaurants across mainland China, with additional Chinese-dining and coffee concepts. The model combines company-owned and franchised stores with delivery, digital ordering and loyalty programs, while core global brands depend on rights licensed from Yum! Brands.
Operates KFC and Pizza Hut restaurants across mainland China, alongside Taco Bell, Little Sheep, Huang Ji Huang and Lavazza concepts. The model combines company-owned restaurants with a growing franchise network.
Builds menus and store formats for local demand while connecting restaurants through delivery, digital ordering and loyalty programs. A localized supply chain supports expansion into lower-tier cities and remote markets.
Most activity remains within mainland China. KFC and Pizza Hut are operated under exclusive rights licensed from Yum! Brands, while Little Sheep and Huang Ji Huang are owned concepts. Continued access to the NYSE also depends on U.S. audit-inspection access for mainland China and Hong Kong.
Company facts
Categories
Key statistics
Year to date −6.5% · Average volume (30d) 1.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 30, 2026 | Goldman Sachs | Reiterate | Buy | $58.50 | $59 | |
| Feb 4, 2026 | Jefferies | Target | $63.64 | |||
| Feb 4, 2026 | Goldman Sachs | Target | $58.50 | |||
| Jan 16, 2026 | BWG Global | Upgrade | Mixed | Positive | ||
| Nov 25, 2025 | CLSA | Target | $55 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $0.67 | $0.70 | +4.5% | $3.05B | $3.14B | +2.8% | +1.35% |
| Apr 29, 2026Q1 FY26 | $0.87 | $0.87 | 0.0% | $3.21B | $3.27B | +1.8% | −0.49% |
| Feb 4, 2026Q4 FY25 | $0.35 | $0.40 | +14.3% | $2.72B | $2.82B | +3.9% | +4.76% |
| Nov 4, 2025Q3 FY25 | $0.74 | $0.76 | +2.3% | $3.19B | $3.21B | +0.5% | −2.12% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.98B | $2.79B | $3.21B | $2.82B | $3.27B | $3.14B | |
| Gross profit | $572.0M | $476.0M | $582.0M | $409.0M | $615.0M | $537.0M | |
| Operating income | $399.0M | $304.0M | $400.0M | $240.0M | $478.0M | $398.0M | |
| Net income | $292.0M | $215.0M | $282.0M | $140.0M | $309.0M | $244.0M | |
| Diluted EPS | $0.77 | $0.57 | $0.76 | $0.39 | $0.87 | $0.70 | |
| Gross margin | 19.2% | 17.1% | 18.2% | 14.5% | 18.8% | 17.1% | |
| Operating margin | 13.4% | 10.9% | 12.5% | 8.5% | 14.6% | 12.7% |
Fiscal years (4-quarter sums)FY21 $9.85B · FY22 $9.57B · FY23 $10.98B · FY24 $11.30B · FY25 $11.80B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.39B · Total debt $2.30B · Total assets $10.87B · Shareholders' equity $5.36B
Dividends
Raised for 7 straight years — most recently to $0.29 from $0.24 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 27, 2026 | Aug 27 | Sep 17 | $0.29 | |
| May 27, 2026 | May 27 | Jun 17 | $0.29 | |
| Mar 4, 2026 | Mar 4 | Mar 25 | $0.29 | raised from $0.24 |
| Dec 2, 2025 | Dec 2 | Dec 23 | $0.24 | |
| Sep 2, 2025 | Sep 2 | Sep 23 | $0.24 | |
| May 28, 2025 | May 28 | Jun 18 | $0.24 | |
| Mar 6, 2025 | Mar 6 | Mar 27 | $0.24 | raised from $0.16 |
| Nov 26, 2024 | Nov 26 | Dec 17 | $0.16 |
Ownership
Shares outstanding 349.15M · Float 335.10M · 96.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| JPMorgan Chase & Co | 24.12M | 6.91% | 13F | Aug 12, 2026 |
| Principal Financial Group Inc | 21.13M | 6.05% | 13F | Aug 4, 2026 |
| Principal Global Investors | 20.17M | 5.50% | 13G | Nov 6, 2025 |
| Primavera Capital Management Ltd | 12.04M | 3.45% | 13F | Aug 13, 2026 |
| BLS Capital Fondsmaeglerselskab A/S | 10.84M | 3.10% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 18, 2026 | Duoduo (Howard) HUANG | officer: Chief Supply Chain Officer | −24,096 | $47.08 |
| Aug 12, 2026 | Jeff Kuai | officer: General Manager, Pizza Hut | −14,586 | $47.72 |
| Feb 24, 2026 | Xueling Lu | officer: Controller and PAO | −23,504 | $55.84 |
| Feb 13, 2026 | Joey Wat | director, officer: Chief Executive Officer | −104,000 | $55.18 |
| Feb 11, 2026 | Joey Wat | director, officer: Chief Executive Officer | −4,613 | $57.01 |
Peers
- McDonald's
Primary western-QSR rival to KFC across China
- Starbucks
Large China coffeehouse network overlapping with Lavazza
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Yum China | $45.02 | −0.02% | $15.72B | 16.6 | 14.2 | 1.3 | +12.6% |
| McDonald's | $265.11 | +0.04% | $188.28B | 21.5 | 20.0 | 6.8 | +3.7% |
| Starbucks | $108.15 | +0.30% | $122.95B | 62.0 | 36.0 | 3.2 | −1.4% |
| Median | 41.8 | 28.0 | 5.0 | +1.2% |