Yum! Brands (YUM) Financials

$145.41 +1.26 (+0.87%)

Closing price 08/1/2025 03:59 PM Eastern

Extended Trading

$145.18 -0.23 (-0.16%)

As of 08/1/2025 06:35 PM Eastern

Annual Income Statements for Yum! Brands

This table shows Yum! Brands' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	4,974	2,185	254	1,542	1,294	904	1,575	1,325	1,597	1,486
Consolidated Net Income / (Loss)	4,974	2,185	254	1,542	1,294	904	1,575	1,325	1,597	1,486
Net Income / (Loss) Continuing Operations	4,617	2,185	254	1,542	1,294	904	1,575	1,325	1,597	1,486
Total Pre-Tax Income	1,253	1,345	1,188	1,839	1,373	1,020	1,674	1,662	1,818	1,900
Total Operating Income	4,932	2,829	1,675	2,296	1,930	1,503	2,139	2,187	2,318	2,403
Total Gross Profit	6,418	2,666	2,924	4,054	4,182	4,001	4,742	4,974	5,179	5,295
Total Revenue	6,418	6,356	5,878	5,688	5,597	5,652	6,584	6,842	7,076	7,549
Operating Revenue	6,418	6,356	5,878	5,688	5,597	5,652	6,584	6,842	7,076	7,549
Total Cost of Revenue	0.00	3,690	2,954	1,634	1,415	1,651	1,842	1,868	1,897	2,254
Operating Cost of Revenue	-	3,690	2,954	1,634	1,415	1,651	1,842	1,868	1,897	2,254
Total Operating Expenses	1,486	-163	1,249	1,758	2,252	2,498	2,603	2,787	2,861	2,892
Selling, General & Admin Expense	1,463	0.00	999	895	917	1,064	1,060	1,140	1,193	1,181
Marketing Expense	-	0.00	0.00	1,208	1,368	1,314	1,576	1,667	1,683	1,711
Other Operating Expenses / (Income)	-	-	247	195	4.00	154	2.00	7.00	14	34
Other Special Charges / (Income)	23	-163	-	-540	-37	-34	-35	-27	-29	-34
Total Other Income / (Expense), net	-315	-644	-487	-457	-557	-483	-465	-525	-500	-503
Interest Expense	275	614	445	452	486	543	544	527	513	489
Interest & Investment Income	-	2.00	5.00	9.00	-67	74	86	11	7.00	-21
Other Income / (Expense), net	-40	-32	-47	-14	-4.00	-14	-7.00	-9.00	6.00	7.00
Income Tax Expense	0.00	0.00	934	297	79	116	99	337	221	414
Basic Earnings per Share	$5.90	$8.34	$3.86	$4.80	$4.23	$2.99	$5.30	$4.63	$5.68	$5.28
Weighted Average Basic Shares Outstanding	436M	353.84M	347M	322M	300.82M	300.06M	288.98M	280.11M	281.34M	279.10M
Diluted Earnings per Share	$5.80	$8.20	$3.77	$4.69	$4.14	$2.94	$5.21	$4.57	$5.59	$5.22
Weighted Average Diluted Shares Outstanding	436M	353.84M	347M	322M	300.82M	300.06M	288.98M	280.11M	281.34M	279.10M
Weighted Average Basic & Diluted Shares Outstanding	436M	353.84M	347M	322M	300.82M	300.06M	288.98M	280.11M	281.34M	279.10M
Cash Dividends to Common per Share	$1.74	$1.73	$0.90	$1.44	$1.68	$1.88	$2.00	$2.28	$2.42	$2.68

This table shows Yum! Brands' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	331	371	300	418	416	463	314	367	382	423	253
Consolidated Net Income / (Loss)	331	371	300	418	416	463	314	367	382	423	253
Net Income / (Loss) Continuing Operations	331	371	300	418	416	463	314	367	382	423	253
Total Pre-Tax Income	447	427	371	478	505	464	383	487	502	528	429
Total Operating Income	546	578	523	573	613	609	520	607	619	657	548
Total Gross Profit	1,210	1,459	1,206	1,240	1,260	1,473	1,167	1,270	1,267	1,591	1,233
Total Revenue	1,640	2,019	1,645	1,687	1,708	2,036	1,598	1,763	1,826	2,362	1,787
Operating Revenue	1,640	2,019	1,645	1,687	1,708	2,036	1,598	1,763	1,826	2,362	1,787
Total Cost of Revenue	430	560	439	447	448	563	431	493	559	771	554
Operating Cost of Revenue	430	560	439	447	448	563	431	493	559	771	554
Total Operating Expenses	664	881	683	667	647	864	647	663	648	934	685
Selling, General & Admin Expense	261	372	282	291	267	353	286	281	263	351	302
Marketing Expense	396	514	395	388	400	500	367	401	401	542	396
Other Operating Expenses / (Income)	10	7.00	10	5.00	-1.00	-	-1.00	-5.00	-4.00	44	-8.00
Other Special Charges / (Income)	-3.00	-12	-4.00	-17	-19	11	-5.00	-14	-12	-3.00	-5.00
Total Other Income / (Expense), net	-99	-151	-152	-95	-108	-145	-137	-120	-117	-129	-119
Interest Expense	124	137	130	125	126	132	117	121	120	131	120
Interest & Investment Income	27	-8.00	-24	29	16	-14	-22	0.00	1.00	-	1.00
Other Income / (Expense), net	-2.00	-6.00	2.00	1.00	2.00	1.00	2.00	1.00	2.00	2.00	0.00
Income Tax Expense	116	56	71	60	89	1.00	69	120	120	105	176
Basic Earnings per Share	$1.16	$1.31	$1.07	$1.49	$1.48	$1.64	$1.11	$1.30	$1.36	$1.51	$0.91
Weighted Average Basic Shares Outstanding	281.69M	280.11M	280.09M	280.21M	280.31M	281.34M	281.63M	281.17M	279.07M	279.10M	277.96M
Diluted Earnings per Share	$1.14	$1.30	$1.05	$1.46	$1.46	$1.62	$1.10	$1.28	$1.35	$1.49	$0.90
Weighted Average Diluted Shares Outstanding	281.69M	280.11M	280.09M	280.21M	280.31M	281.34M	281.63M	281.17M	279.07M	279.10M	277.96M
Weighted Average Basic & Diluted Shares Outstanding	281.69M	280.11M	280.09M	280.21M	280.31M	281.34M	281.63M	281.17M	279.07M	279.10M	277.96M
Cash Dividends to Common per Share	$0.57	$0.57	$0.61	$0.61	$0.61	$0.61	$0.67	$0.67	$0.67	$0.67	$0.71

This table details how cash moves in and out of Yum! Brands' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	94	1,319	1,856	-1,194	294	-156	-253	-124	77	83
Net Cash From Operating Activities	2,191	2,077	1,030	1,176	1,315	1,305	1,706	1,427	1,603	1,689
Net Cash From Continuing Operating Activities	2,010	2,023	2,118	1,176	1,315	1,305	1,706	1,427	1,603	1,689
Net Income / (Loss) Continuing Operations	1,283	1,643	1,340	1,542	1,294	904	1,575	1,325	1,597	1,486
Consolidated Net Income / (Loss)	1,283	1,643	1,340	1,542	1,294	904	1,575	1,325	1,597	1,486
Depreciation Expense	638	620	253	137	112	146	164	146	153	175
Non-Cash Adjustments To Reconcile Net Income	159	-245	65	-493	94	161	-227	1.00	-218	68
Changes in Operating Assets and Liabilities, net	-70	5.00	-628	-10	-185	94	194	-45	71	-40
Net Cash From Investing Activities	-692	-291	1,472	313	-88	-335	-173	-202	-107	-422
Net Cash From Continuing Investing Activities	14	366	1,472	313	-88	-747	-173	-202	-107	-422
Purchase of Property, Plant & Equipment	-442	-427	-318	-234	-196	-160	-230	-279	-285	-257
Purchase of Investments	-	0.00	0.00	-200	0.00	-	0.00	0.00	121	-265
Divestitures	426	740	1,773	825	110	19	85	73	60	49
Sale and/or Maturity of Investments	-	-	-	-	-	206	-	0.00	0.00	104
Other Investing Activities, net	30	53	17	-12	-2.00	8.00	-28	4.00	-3.00	-53
Net Cash From Financing Activities	-1,323	-1,036	-1,795	-2,620	-938	-738	-1,767	-1,323	-1,429	-1,163
Net Cash From Continuing Financing Activities	-1,930	-1,033	-1,795	-2,620	-938	-738	-1,767	-1,323	-1,429	-1,163
Repayment of Debt	-306	-2,501	-507	-1,383	-542	-1,678	-3,734	-752	-422	-552
Repurchase of Common Equity	-1,200	-5,403	-1,960	-2,390	-815	-239	-1,591	-1,200	-50	-441
Payment of Dividends	-730	-744	-416	-462	-511	-566	-592	-649	-678	-752
Issuance of Debt	306	7,615	0.00	1,615	930	1,745	4,150	1,278	-279	582
Effect of Exchange Rate Changes	0.00	-34	61	-63	5.00	-	-19	-26	10	-21

This table details how cash moves in and out of Yum! Brands' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	35	-16	-38	48	218	-151	154	-255	4.00	180	-37
Net Cash From Operating Activities	453	452	349	329	477	448	363	342	471	513	404
Net Cash From Continuing Operating Activities	453	452	349	329	477	448	363	342	471	513	404
Net Income / (Loss) Continuing Operations	331	371	300	418	416	463	314	367	382	423	253
Consolidated Net Income / (Loss)	331	371	300	418	416	463	314	367	382	423	253
Depreciation Expense	33	42	29	38	37	49	35	41	44	55	45
Non-Cash Adjustments To Reconcile Net Income	-11	-29	45	-24	-13	-226	40	1.00	1.00	26	15
Changes in Operating Assets and Liabilities, net	100	68	-25	-103	37	162	-26	-67	44	9.00	91
Net Cash From Investing Activities	-48	-90	-56	82	-30	-103	45	-298	-39	-130	2.00
Net Cash From Continuing Investing Activities	-48	-90	-56	80	-28	-103	45	-298	-39	-130	2.00
Purchase of Property, Plant & Equipment	-61	-121	-62	-60	-57	-106	-49	-50	-52	-106	-71
Purchase of Investments	-	-	-	-	1.00	121	-	-	25	-	90
Sale of Property, Plant & Equipment	-	-	5.00	26	26	-	11	19	18	-	15
Sale and/or Maturity of Investments	-	-	0.00	-	-	-	104	-	-	-	0.00
Other Investing Activities, net	3.00	9.00	1.00	-6.00	2.00	-	-21	23	-30	-25	-32
Net Cash From Financing Activities	-342	-395	-334	-364	-223	-508	-247	-300	-444	-172	-443
Net Cash From Continuing Financing Activities	-342	-395	-334	-364	-223	-508	-247	-300	-444	-172	-443
Repayment of Debt	-23	-28	-30	-30	-24	-338	-58	-474	-9.00	-11	-40
Repurchase of Common Equity	-157	-486	-50	-	-	-	0.00	-50	-277	-114	-229
Payment of Dividends	-162	-160	-169	-170	-169	-170	-189	-188	-188	-187	-198
Issuance of Debt	-	279	-85	-164	-30	-	0.00	412	30	140	24

This table presents Yum! Brands' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/26/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	8,061	5,453	5,311	4,130	5,231	5,852	5,966	5,846	6,231	6,727
Total Current Assets	1,687	1,505	2,507	1,207	1,527	1,689	1,532	1,609	1,609	1,871
Cash & Equivalents	737	725	1,522	292	605	730	486	367	512	616
Note & Lease Receivable	377	370	400	561	584	534	596	648	737	775
Prepaid Expenses	241	236	384	354	338	425	450	594	360	480
Plant, Property, & Equipment, net	4,188	2,113	1,594	1,237	1,170	1,235	1,207	1,171	1,197	1,304
Total Noncurrent Assets	4,496	1,835	1,210	1,686	2,534	2,928	3,227	3,066	3,425	3,552
Goodwill	656	536	512	525	530	597	657	638	642	736
Intangible Assets	271	151	214	242	244	343	359	354	377	416
Noncurrent Deferred & Refundable Income Taxes	676	772	139	195	447	553	724	750	1,045	1,071
Other Noncurrent Operating Assets	2,893	376	345	724	1,313	1,435	1,487	1,324	1,361	1,329
Total Liabilities & Shareholders' Equity	8,061	5,453	5,311	4,130	5,231	5,852	5,966	5,846	6,231	6,727
Total Liabilities	7,086	11,068	11,645	12,056	13,247	13,743	14,339	14,722	14,089	14,375
Total Current Liabilities	3,087	1,306	1,512	1,301	1,541	1,675	1,415	1,665	1,277	1,269
Short-Term Debt	921	66	375	321	431	453	68	398	53	27
Accounts Payable	1,986	1,067	813	911	960	1,189	1,334	1,251	1,169	1,211
Current Deferred & Payable Income Tax Liabilities	77	36	123	69	150	33	13	16	55	31
Total Noncurrent Liabilities	3,965	9,762	10,133	10,755	11,706	12,068	12,924	13,057	12,812	13,106
Long-Term Debt	3,965	9,762	10,133	10,755	11,706	10,272	11,178	11,453	11,142	11,306
Other Noncurrent Operating Liabilities	-	-	-	-	-	1,796	1,746	1,604	1,670	1,800
Total Equity & Noncontrolling Interests	969	-5,615	-6,334	-7,926	-8,016	-7,891	-8,373	-8,876	-7,858	-7,648
Total Preferred & Common Equity	911	-5,615	-6,334	0.00	-8,016	-7,891	-8,373	-8,876	-7,858	-7,648
Total Common Equity	911	-5,615	-6,334	-7,926	-8,016	-7,891	-8,373	-8,876	-7,858	-7,648
Common Stock	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	60	0.00
Retained Earnings	1,150	-5,157	-6,063	-7,592	-7,628	-7,480	-8,048	-8,507	-7,616	-7,256
Accumulated Other Comprehensive Income / (Loss)	-239	-458	-271	-334	-388	-411	-325	-369	-302	-392

This table presents Yum! Brands' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Total Assets	5,779	5,846	5,749	5,848	6,071	6,231	6,224	6,395	6,461	6,727	6,659
Total Current Assets	1,595	1,609	1,546	1,515	1,705	1,609	1,774	1,635	1,625	1,871	1,727
Cash & Equivalents	410	367	349	437	656	512	652	404	457	616	607
Note & Lease Receivable	579	648	622	656	647	737	686	713	708	775	712
Prepaid Expenses	606	594	575	422	402	360	436	518	460	480	408
Plant, Property, & Equipment, net	1,114	1,171	1,162	1,162	1,157	1,197	1,190	1,272	1,300	1,304	1,338
Total Noncurrent Assets	3,070	3,066	3,041	3,171	3,209	3,425	3,260	3,488	3,536	3,552	3,595
Goodwill	633	638	639	641	638	642	641	718	735	736	746
Intangible Assets	341	354	351	369	369	377	370	417	416	416	418
Noncurrent Deferred & Refundable Income Taxes	667	750	752	821	842	1,045	1,021	1,018	1,033	1,071	1,065
Other Noncurrent Operating Assets	1,429	1,324	1,299	1,340	1,360	1,361	1,228	1,335	1,352	1,329	1,366
Total Liabilities & Shareholders' Equity	5,779	5,846	5,749	5,848	6,071	6,231	6,224	6,395	6,461	6,727	6,659
Total Liabilities	14,321	14,722	14,523	14,284	14,261	14,089	13,980	14,025	14,135	14,375	14,463
Total Current Liabilities	1,244	1,665	1,555	1,487	1,504	1,277	1,188	1,136	1,186	1,269	1,231
Short-Term Debt	72	398	398	374	373	53	58	24	24	27	30
Accounts Payable	1,156	1,251	1,128	1,063	1,119	1,169	1,095	1,098	1,138	1,211	1,179
Current Deferred & Payable Income Tax Liabilities	16	16	29	50	12	55	35	14	24	31	21
Total Noncurrent Liabilities	13,077	13,057	12,968	12,797	12,757	12,812	12,792	12,889	12,949	13,106	13,233
Long-Term Debt	11,517	11,453	11,349	11,194	11,152	11,142	11,130	11,140	11,169	11,306	11,327
Other Noncurrent Operating Liabilities	1,560	1,604	1,619	1,603	1,605	1,670	1,662	1,749	1,780	1,800	1,906
Total Equity & Noncontrolling Interests	-8,542	-8,876	-8,774	-8,436	-8,190	-7,858	-7,756	-7,630	-7,674	-7,648	-7,804
Total Preferred & Common Equity	-8,542	-8,876	-8,774	-8,436	-8,190	-7,858	-7,756	-7,630	-7,674	-7,648	-7,804
Total Common Equity	-8,542	-8,876	-8,774	-8,436	-8,190	-7,858	-7,756	-7,630	-7,674	-7,648	-7,805
Common Stock	0.00	0.00	0.00	13	33	60	45	0.00	0.00	0.00	0.00
Retained Earnings	-8,244	-8,507	-8,403	-8,156	-7,909	-7,616	-7,492	-7,321	-7,389	-7,256	-7,434
Accumulated Other Comprehensive Income / (Loss)	-298	-369	-371	-293	-314	-302	-309	-309	-285	-392	-371

This table displays calculated financial ratios and metrics derived from Yum! Brands' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.57%	-0.97%	-7.52%	-3.23%	-1.60%	0.98%	16.49%	3.92%	3.42%	6.68%
EBITDA Growth	199.73%	-38.21%	-44.95%	28.60%	-15.75%	-19.77%	40.43%	1.22%	6.58%	4.36%
EBIT Growth	222.48%	-42.83%	-41.79%	40.17%	-15.60%	-22.69%	43.18%	2.16%	6.70%	3.70%
NOPAT Growth	344.04%	-42.64%	-87.34%	437.58%	-5.52%	-26.77%	51.08%	-13.36%	16.79%	-7.70%
Net Income Growth	373.26%	-56.07%	-88.38%	507.09%	-16.08%	-30.14%	74.23%	-15.87%	20.53%	-6.95%
EPS Growth	373.26%	41.38%	-54.02%	24.40%	-11.73%	-28.99%	77.21%	-12.28%	22.32%	-6.62%
Operating Cash Flow Growth	6.93%	-5.20%	-50.41%	14.17%	11.82%	-0.76%	30.73%	-16.35%	12.33%	5.36%
Free Cash Flow Firm Growth	113.26%	125.54%	-81.61%	20.67%	-23.53%	136.36%	-36.97%	-11.97%	19.49%	-10.10%
Invested Capital Growth	34.72%	-54.50%	-26.86%	16.61%	23.02%	-40.16%	13.45%	9.26%	8.32%	8.64%
Revenue Q/Q Growth	-0.63%	-22.79%	1,990.03%	-0.33%	37.18%	-19.07%	2.28%	1.92%	0.24%	4.51%
EBITDA Q/Q Growth	219.84%	-31.26%	-50.55%	32.19%	18.42%	-26.25%	0.61%	2.92%	1.85%	2.17%
EBIT Q/Q Growth	250.18%	-39.38%	-49.33%	36.73%	20.15%	-28.72%	0.61%	3.37%	1.66%	2.08%
NOPAT Q/Q Growth	394.42%	-51.40%	-87.74%	188.06%	43.75%	-33.70%	-2.49%	5.62%	5.36%	-3.98%
Net Income Q/Q Growth	432.55%	-58.70%	-85.48%	176.34%	52.77%	-33.19%	-0.13%	3.19%	6.11%	-2.62%
EPS Q/Q Growth	432.55%	0.00%	1,985.00%	162.01%	9.81%	0.00%	0.39%	4.58%	6.07%	-2.43%
Operating Cash Flow Q/Q Growth	-2.80%	0.29%	-6.19%	6.14%	4.12%	1.56%	-2.18%	2.74%	-0.25%	4.00%
Free Cash Flow Firm Q/Q Growth	72.14%	21.06%	-72.68%	27.22%	-23.74%	58.24%	0.04%	7.93%	-3.77%	3.88%
Invested Capital Q/Q Growth	80.34%	-21.19%	-4.59%	39.82%	96.75%	2.04%	-0.42%	-1.10%	5.45%	0.23%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	41.94%	49.74%	71.27%	74.72%	70.79%	72.02%	72.70%	73.19%	70.14%
EBITDA Margin	86.16%	53.76%	32.00%	42.53%	36.41%	28.93%	34.87%	33.97%	35.01%	34.24%
Operating Margin	76.85%	44.51%	28.50%	40.37%	34.48%	26.59%	32.49%	31.96%	32.76%	31.83%
EBIT Margin	76.22%	44.01%	27.70%	40.12%	34.41%	26.34%	32.38%	31.83%	32.84%	31.92%
Profit (Net Income) Margin	77.50%	34.38%	4.32%	27.11%	23.12%	15.99%	23.92%	19.37%	22.57%	19.68%
Tax Burden Percent	396.97%	162.45%	21.38%	83.85%	94.25%	88.63%	94.09%	79.72%	87.84%	78.21%
Interest Burden Percent	25.61%	48.09%	72.97%	80.59%	71.29%	68.50%	78.52%	76.31%	78.23%	78.84%
Effective Tax Rate	0.00%	0.00%	78.62%	16.15%	5.75%	11.37%	5.91%	20.28%	12.16%	21.79%
Return on Invested Capital (ROIC)	76.87%	52.80%	12.34%	72.53%	57.07%	47.40%	89.62%	69.81%	74.96%	63.77%
ROIC Less NNEP Spread (ROIC-NNEP)	77.69%	44.41%	11.17%	68.61%	52.37%	43.43%	85.41%	66.05%	70.99%	60.10%
Return on Net Nonoperating Assets (RNNOA)	307.52%	-146.98%	-16.60%	-94.15%	-73.31%	-58.77%	-108.99%	-85.17%	-94.04%	-82.94%
Return on Equity (ROE)	384.39%	-94.18%	-4.25%	-21.63%	-16.23%	-11.37%	-19.37%	-15.36%	-19.09%	-19.17%
Cash Return on Invested Capital (CROIC)	47.29%	127.72%	43.37%	57.19%	36.43%	97.65%	77.02%	60.96%	66.97%	55.49%
Operating Return on Assets (OROA)	59.68%	41.39%	30.25%	48.34%	41.15%	26.87%	36.08%	36.88%	38.49%	37.20%
Return on Assets (ROA)	60.68%	32.34%	4.72%	32.67%	27.65%	16.31%	26.65%	22.43%	26.45%	22.94%
Return on Common Equity (ROCE)	365.08%	-95.48%	-4.25%	-21.63%	-16.23%	-11.37%	-19.37%	-15.36%	-19.09%	-19.17%
Return on Equity Simple (ROE_SIMPLE)	545.99%	-38.91%	-4.01%	0.00%	-16.14%	-11.46%	-18.81%	-14.93%	-20.32%	-19.43%
Net Operating Profit after Tax (NOPAT)	4,932	2,829	358	1,925	1,819	1,332	2,013	1,744	2,036	1,879
NOPAT Margin	76.85%	44.51%	6.09%	33.85%	32.50%	23.57%	30.57%	25.48%	28.78%	24.90%
Net Nonoperating Expense Percent (NNEP)	-0.82%	8.39%	1.17%	3.92%	4.70%	3.98%	4.22%	3.76%	3.96%	3.68%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	58.61%	61.02%	51.00%
Cost of Revenue to Revenue	0.00%	58.06%	50.26%	28.73%	25.28%	29.21%	27.98%	27.30%	26.81%	29.86%
SG&A Expenses to Revenue	22.80%	0.00%	17.00%	15.73%	16.38%	18.83%	16.10%	16.66%	16.86%	15.64%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	23.15%	-2.56%	21.25%	30.91%	40.24%	44.20%	39.54%	40.73%	40.43%	38.31%
Earnings before Interest and Taxes (EBIT)	4,892	2,797	1,628	2,282	1,926	1,489	2,132	2,178	2,324	2,410
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	5,530	3,417	1,881	2,419	2,038	1,635	2,296	2,324	2,477	2,585
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	21.15	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.00	3.20	4.16	4.57	5.01	5.43	5.90	5.07	5.07	4.98
Price to Earnings (P/E)	3.87	9.30	96.30	16.85	21.66	33.97	24.64	26.20	22.47	25.29
Dividend Yield	2.71%	0.00%	1.65%	1.73%	1.81%	1.85%	1.51%	1.85%	1.89%	2.00%
Earnings Yield	25.82%	10.75%	1.04%	5.94%	4.62%	2.94%	4.06%	3.82%	4.45%	3.95%
Enterprise Value to Invested Capital (EV/IC)	3.17	8.74	13.56	12.86	11.25	19.35	20.77	17.72	16.48	15.74
Enterprise Value to Revenue (EV/Rev)	3.64	4.61	5.66	6.46	7.07	7.20	7.53	6.75	6.58	6.40
Enterprise Value to EBITDA (EV/EBITDA)	4.23	8.57	17.67	15.20	19.41	24.90	21.59	19.88	18.80	18.68
Enterprise Value to EBIT (EV/EBIT)	4.78	10.47	20.42	16.11	20.54	27.34	23.25	21.21	20.04	20.04
Enterprise Value to NOPAT (EV/NOPAT)	4.74	10.35	92.83	19.10	21.75	30.56	24.63	26.50	22.87	25.70
Enterprise Value to Operating Cash Flow (EV/OCF)	10.67	14.10	32.28	31.26	30.09	31.19	29.06	32.38	29.05	28.59
Enterprise Value to Free Cash Flow (EV/FCFF)	7.70	4.28	26.43	24.22	34.08	14.83	28.66	30.35	25.60	29.53
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	5.01	-1.75	-1.66	-1.40	-1.51	-1.36	-1.34	-1.34	-1.42	-1.48
Long-Term Debt to Equity	4.07	-1.74	-1.60	-1.36	-1.46	-1.30	-1.34	-1.29	-1.42	-1.48
Financial Leverage	3.96	-3.31	-1.49	-1.37	-1.40	-1.35	-1.28	-1.29	-1.32	-1.38
Leverage Ratio	6.34	-2.91	-0.90	-0.66	-0.59	-0.70	-0.73	-0.68	-0.72	-0.84
Compound Leverage Factor	1.62	-1.40	-0.66	-0.53	-0.42	-0.48	-0.57	-0.52	-0.56	-0.66
Debt to Total Capital	83.36%	233.28%	251.75%	351.62%	294.52%	378.44%	391.44%	398.35%	335.48%	307.54%
Short-Term Debt to Total Capital	15.71%	1.57%	8.98%	10.19%	10.46%	15.98%	2.37%	13.38%	1.59%	0.73%
Long-Term Debt to Total Capital	67.65%	231.71%	242.76%	341.43%	284.06%	362.46%	389.07%	384.97%	333.89%	306.81%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	15.54%	-133.28%	-151.75%	-251.62%	-194.52%	-278.44%	-291.44%	-298.35%	-235.48%	-207.54%
Debt to EBITDA	0.88	2.88	5.59	4.58	5.96	6.56	4.90	5.10	4.52	4.38
Net Debt to EBITDA	0.73	2.62	4.67	4.46	5.66	6.11	4.69	4.94	4.31	4.15
Long-Term Debt to EBITDA	0.72	2.86	5.39	4.45	5.74	6.28	4.87	4.93	4.50	4.37
Debt to NOPAT	0.99	3.47	29.34	5.75	6.67	8.05	5.59	6.80	5.50	6.03
Net Debt to NOPAT	0.82	3.17	24.53	5.60	6.34	7.50	5.35	6.59	5.25	5.70
Long-Term Debt to NOPAT	0.80	3.45	28.29	5.59	6.44	7.71	5.55	6.57	5.47	6.02
Altman Z-Score	4.42	2.68	2.01	1.89	1.51	1.36	2.04	1.77	2.25	2.47
Noncontrolling Interest Sharing Ratio	5.02%	-1.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.55	1.15	1.66	0.93	0.99	1.01	1.08	0.97	1.26	1.47
Quick Ratio	0.36	0.84	1.27	0.66	0.77	0.75	0.76	0.61	0.98	1.10
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	3,034	6,843	1,258	1,518	1,161	2,744	1,730	1,523	1,819	1,635
Operating Cash Flow to CapEx	495.70%	486.42%	323.90%	502.56%	670.92%	815.63%	741.74%	511.47%	562.46%	657.20%
Free Cash Flow to Firm to Interest Expense	11.03	11.15	2.83	3.36	2.39	5.05	3.18	2.89	3.55	3.34
Operating Cash Flow to Interest Expense	7.97	3.38	2.31	2.60	2.71	2.40	3.14	2.71	3.12	3.45
Operating Cash Flow Less CapEx to Interest Expense	6.36	2.69	1.60	2.08	2.30	2.11	2.71	2.18	2.57	2.93
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.78	0.94	1.09	1.21	1.20	1.02	1.11	1.16	1.17	1.17
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	27.74	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.48	2.02	3.17	4.02	4.65	4.70	5.39	5.75	5.98	6.04
Accounts Payable Turnover	0.00	2.42	3.14	1.90	1.51	1.54	1.46	1.45	1.57	1.89
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	13.16	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	151.00	116.15	192.55	241.31	237.55	249.97	252.55	232.82	192.70
Cash Conversion Cycle (CCC)	0.00	-137.84	-116.15	-192.55	-241.31	-237.55	-249.97	-252.55	-232.82	-192.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,365	3,351	2,451	2,858	3,516	2,104	2,387	2,608	2,825	3,069
Invested Capital Turnover	1.00	1.19	2.03	2.14	1.76	2.01	2.93	2.74	2.60	2.56
Increase / (Decrease) in Invested Capital	1,898	-4,014	-900	407	658	-1,412	283	221	217	244
Enterprise Value (EV)	23,373	29,287	33,246	36,764	39,565	40,708	49,573	46,205	46,568	48,296
Market Capitalization	19,263	20,321	24,461	25,980	28,033	30,713	38,813	34,721	35,885	37,579
Book Value per Share	$2.11	$0.00	($18.80)	($25.38)	($26.50)	($26.16)	($28.56)	($31.51)	($28.03)	($27.41)
Tangible Book Value per Share	($0.04)	$0.00	($20.95)	($27.84)	($29.06)	($29.27)	($32.03)	($35.03)	($31.67)	($31.53)
Total Capital	5,861	4,213	4,174	3,150	4,121	2,834	2,873	2,975	3,337	3,685
Total Debt	4,886	9,828	10,508	11,076	12,137	10,725	11,246	11,851	11,195	11,333
Total Long-Term Debt	3,965	9,762	10,133	10,755	11,706	10,272	11,178	11,453	11,142	11,306
Net Debt	4,046	8,966	8,785	10,784	11,532	9,995	10,760	11,484	10,683	10,717
Capital Expenditures (CapEx)	442	427	318	234	196	160	230	279	285	257
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,319	-597	-353	-65	-188	-263	-301	-25	-127	13
Debt-free Net Working Capital (DFNWC)	-479	265	1,370	227	417	467	185	342	385	629
Net Working Capital (NWC)	-1,400	199	995	-94	-14	14	117	-56	332	602
Net Nonoperating Expense (NNE)	-42	644	104	383	525	428	438	419	439	393
Net Nonoperating Obligations (NNO)	6,390	8,966	8,785	10,784	11,532	9,995	10,760	11,484	10,683	10,717
Total Depreciation and Amortization (D&A)	638	620	253	137	112	146	164	146	153	175
Debt-free, Cash-free Net Working Capital to Revenue	-20.55%	-9.39%	-6.01%	-1.14%	-3.36%	-4.65%	-4.57%	-0.37%	-1.79%	0.17%
Debt-free Net Working Capital to Revenue	-7.46%	4.17%	23.31%	3.99%	7.45%	8.26%	2.81%	5.00%	5.44%	8.33%
Net Working Capital to Revenue	-21.81%	3.13%	16.93%	-1.65%	-0.25%	0.25%	1.78%	-0.82%	4.69%	7.97%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.13	$4.11	$3.86	$9.60	$4.23	$2.99	$5.30	$4.63	$5.68	$5.28
Adjusted Weighted Average Basic Shares Outstanding	570.89M	353.84M	332.51M	306.41M	300.82M	300.06M	288.98M	280.11M	281.34M	279.10M
Adjusted Diluted Earnings per Share	$2.09	$4.04	$3.77	$9.38	$4.14	$2.94	$5.21	$4.57	$5.59	$5.22
Adjusted Weighted Average Diluted Shares Outstanding	570.89M	353.84M	332.51M	306.41M	300.82M	300.06M	288.98M	280.11M	281.34M	279.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$4.23	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	570.89M	353.84M	332.51M	306.41M	300.82M	300.06M	288.98M	280.11M	281.34M	279.10M
Normalized Net Operating Profit after Tax (NOPAT)	3,469	1,866	1,175	1,472	1,784	1,302	1,980	1,722	2,011	1,853
Normalized NOPAT Margin	54.04%	29.36%	19.98%	25.89%	31.88%	23.04%	30.07%	25.17%	28.42%	24.54%
Pre Tax Income Margin	19.52%	21.16%	20.21%	32.33%	24.53%	18.05%	25.43%	24.29%	25.69%	25.17%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	17.79	4.56	3.66	5.05	3.96	2.74	3.92	4.13	4.53	4.93
NOPAT to Interest Expense	17.93	4.61	0.80	4.26	3.74	2.45	3.70	3.31	3.97	3.84
EBIT Less CapEx to Interest Expense	16.18	3.86	2.94	4.53	3.56	2.45	3.50	3.60	3.97	4.40
NOPAT Less CapEx to Interest Expense	16.33	3.91	0.09	3.74	3.34	2.16	3.28	2.78	3.41	3.32
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	14.68%	34.05%	163.78%	29.96%	39.49%	62.61%	37.59%	48.98%	42.45%	50.61%
Augmented Payout Ratio	38.80%	281.33%	935.43%	184.95%	102.47%	89.05%	138.60%	139.55%	45.59%	80.28%

This table displays calculated financial ratios and metrics derived from Yum! Brands' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.12%	6.83%	6.33%	3.12%	4.15%	0.84%	-2.86%	4.51%	6.91%	16.01%	11.83%
EBITDA Growth	2.12%	12.04%	1.47%	4.26%	13.00%	7.33%	0.54%	6.05%	1.99%	8.35%	6.46%
EBIT Growth	3.42%	14.17%	3.14%	3.80%	13.05%	6.64%	-0.57%	5.92%	0.98%	8.03%	4.98%
NOPAT Growth	-34.47%	23.38%	-17.12%	57.47%	24.90%	21.01%	0.81%	-8.71%	-6.72%	-13.39%	-24.19%
Net Income Growth	-37.31%	12.42%	-24.81%	86.61%	25.68%	24.80%	4.67%	-12.20%	-8.17%	-8.64%	-19.43%
EPS Growth	-34.86%	18.18%	-22.79%	89.61%	28.07%	24.62%	4.76%	-12.33%	-7.53%	-8.02%	-18.18%
Operating Cash Flow Growth	-12.72%	9.18%	37.94%	22.30%	5.30%	-0.89%	4.01%	3.95%	-1.26%	14.51%	11.29%
Free Cash Flow Firm Growth	-41.73%	126.72%	212.65%	534.58%	181.77%	38.94%	-22.30%	-94.88%	-80.99%	-27.73%	-42.22%
Invested Capital Growth	10.01%	9.26%	2.94%	2.39%	1.59%	8.32%	5.95%	16.14%	14.30%	8.64%	6.01%
Revenue Q/Q Growth	0.24%	23.11%	-18.52%	2.55%	1.24%	19.20%	-21.51%	10.33%	3.57%	29.35%	-24.34%
EBITDA Q/Q Growth	-1.70%	6.41%	-9.77%	10.47%	6.54%	1.07%	-15.48%	16.52%	2.47%	7.37%	-16.95%
EBIT Q/Q Growth	-1.63%	5.15%	-8.22%	9.33%	7.14%	-0.81%	-14.43%	16.48%	2.14%	6.12%	-16.84%
NOPAT Q/Q Growth	27.06%	24.21%	-15.79%	18.48%	0.78%	20.34%	-29.85%	7.30%	2.97%	11.74%	-38.60%
Net Income Q/Q Growth	47.77%	12.08%	-19.14%	39.33%	-0.48%	11.30%	-32.18%	16.88%	4.09%	10.73%	-40.19%
EPS Q/Q Growth	48.05%	14.04%	-19.23%	39.05%	0.00%	10.96%	-32.10%	16.36%	5.47%	10.37%	-39.60%
Operating Cash Flow Q/Q Growth	68.40%	-0.22%	-22.79%	-5.73%	44.98%	-6.08%	-18.97%	-5.79%	37.72%	8.92%	-21.25%
Free Cash Flow Firm Q/Q Growth	263.00%	71.14%	23.73%	25.92%	5.68%	-15.61%	-30.81%	-91.70%	292.45%	220.73%	-44.69%
Invested Capital Q/Q Growth	0.19%	-1.10%	0.61%	2.71%	-0.59%	5.45%	-1.59%	12.59%	-2.17%	0.23%	-3.98%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	73.78%	72.26%	73.31%	73.50%	73.77%	72.35%	73.03%	72.04%	69.39%	67.36%	69.00%
EBITDA Margin	35.18%	30.41%	33.68%	36.28%	38.17%	32.37%	34.86%	36.81%	36.42%	30.23%	33.18%
Operating Margin	33.29%	28.63%	31.79%	33.97%	35.89%	29.91%	32.54%	34.43%	33.90%	27.82%	30.67%
EBIT Margin	33.17%	28.33%	31.91%	34.02%	36.01%	29.96%	32.67%	34.49%	34.01%	27.90%	30.67%
Profit (Net Income) Margin	20.18%	18.38%	18.24%	24.78%	24.36%	22.74%	19.65%	20.82%	20.92%	17.91%	14.16%
Tax Burden Percent	74.05%	86.89%	80.86%	87.45%	82.38%	99.78%	81.98%	75.36%	76.10%	80.11%	58.97%
Interest Burden Percent	82.17%	74.65%	70.67%	83.28%	82.11%	76.07%	73.37%	80.10%	80.84%	80.12%	78.28%
Effective Tax Rate	25.95%	13.11%	19.14%	12.55%	17.62%	0.22%	18.02%	24.64%	23.90%	19.89%	41.03%
Return on Invested Capital (ROIC)	65.75%	68.14%	68.98%	77.96%	78.52%	77.75%	69.40%	63.30%	64.91%	57.08%	48.87%
ROIC Less NNEP Spread (ROIC-NNEP)	65.07%	66.96%	67.89%	77.22%	77.71%	76.44%	68.38%	62.47%	64.09%	56.12%	48.21%
Return on Net Nonoperating Assets (RNNOA)	-85.04%	-86.35%	-88.23%	-101.41%	-102.40%	-101.26%	-90.73%	-85.12%	-87.28%	-77.45%	-65.96%
Return on Equity (ROE)	-19.29%	-18.21%	-19.24%	-23.45%	-23.88%	-23.51%	-21.33%	-21.82%	-22.37%	-20.36%	-17.09%
Cash Return on Invested Capital (CROIC)	56.05%	60.96%	60.91%	66.33%	71.13%	66.97%	69.65%	53.48%	54.85%	55.49%	56.34%
Operating Return on Assets (OROA)	36.51%	32.82%	38.30%	40.88%	42.90%	35.11%	38.35%	40.03%	39.20%	32.51%	36.84%
Return on Assets (ROA)	22.21%	21.29%	21.89%	29.77%	29.02%	26.65%	23.07%	24.16%	24.12%	20.87%	17.01%
Return on Common Equity (ROCE)	-19.29%	-18.21%	-19.24%	-23.45%	-23.88%	-23.51%	-21.33%	-21.82%	-22.37%	-20.36%	-17.09%
Return on Equity Simple (ROE_SIMPLE)	-15.03%	0.00%	-13.97%	-16.83%	-18.38%	0.00%	-20.77%	-20.45%	-19.89%	0.00%	-18.26%
Net Operating Profit after Tax (NOPAT)	404	502	423	501	505	608	426	457	471	526	323
NOPAT Margin	24.65%	24.87%	25.71%	29.70%	29.56%	29.85%	26.68%	25.95%	25.80%	22.28%	18.09%
Net Nonoperating Expense Percent (NNEP)	0.68%	1.18%	1.10%	0.74%	0.81%	1.31%	1.02%	0.83%	0.82%	0.97%	0.66%
Return On Investment Capital (ROIC_SIMPLE)	-	16.88%	-	-	-	18.21%	-	-	-	14.28%	9.10%
Cost of Revenue to Revenue	26.22%	27.74%	26.69%	26.50%	26.23%	27.65%	26.97%	27.96%	30.61%	32.64%	31.00%
SG&A Expenses to Revenue	15.91%	18.43%	17.14%	17.25%	15.63%	17.34%	17.90%	15.94%	14.40%	14.86%	16.90%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	40.49%	43.64%	41.52%	39.54%	37.88%	42.44%	40.49%	37.61%	35.49%	39.54%	38.33%
Earnings before Interest and Taxes (EBIT)	544	572	525	574	615	610	522	608	621	659	548
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	577	614	554	612	652	659	557	649	665	714	593
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.36	5.07	5.20	5.45	4.86	5.07	5.50	5.22	5.42	4.98	5.70
Price to Earnings (P/E)	22.80	26.20	29.46	26.81	22.80	22.47	23.99	23.78	25.64	25.29	30.93
Dividend Yield	2.15%	1.85%	1.80%	1.73%	1.95%	1.89%	1.80%	1.93%	1.87%	2.00%	1.73%
Earnings Yield	4.39%	3.82%	3.39%	3.73%	4.39%	4.45%	4.17%	4.20%	3.90%	3.95%	3.23%
Enterprise Value to Invested Capital (EV/IC)	15.34	17.72	18.11	18.26	16.87	16.48	17.69	15.29	16.29	15.74	18.60
Enterprise Value to Revenue (EV/Rev)	6.03	6.75	6.85	7.04	6.40	6.58	7.00	6.74	6.90	6.40	7.09
Enterprise Value to EBITDA (EV/EBITDA)	17.91	19.88	20.38	20.87	18.58	18.80	19.83	19.02	19.71	18.68	20.92
Enterprise Value to EBIT (EV/EBIT)	19.20	21.21	21.66	22.21	19.77	20.04	21.19	20.32	21.12	20.04	22.51
Enterprise Value to NOPAT (EV/NOPAT)	24.51	26.50	28.79	26.89	23.38	22.87	24.13	24.02	25.48	25.70	30.80
Enterprise Value to Operating Cash Flow (EV/OCF)	29.12	32.38	31.20	31.08	28.12	29.05	30.42	29.36	30.71	28.59	31.69
Enterprise Value to Free Cash Flow (EV/FCFF)	28.67	30.35	30.16	27.85	23.90	25.60	26.13	30.73	31.68	29.53	33.99
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-1.36	-1.34	-1.34	-1.37	-1.41	-1.42	-1.44	-1.46	-1.46	-1.48	-1.46
Long-Term Debt to Equity	-1.35	-1.29	-1.29	-1.33	-1.36	-1.42	-1.44	-1.46	-1.46	-1.48	-1.45
Financial Leverage	-1.31	-1.29	-1.30	-1.31	-1.32	-1.32	-1.33	-1.36	-1.36	-1.38	-1.37
Leverage Ratio	-0.74	-0.68	-0.67	-0.68	-0.71	-0.72	-0.72	-0.76	-0.79	-0.84	-0.83
Compound Leverage Factor	-0.61	-0.51	-0.47	-0.57	-0.58	-0.55	-0.53	-0.61	-0.64	-0.67	-0.65
Debt to Total Capital	380.34%	398.35%	395.12%	369.35%	345.58%	335.48%	325.99%	315.90%	318.07%	307.54%	319.65%
Short-Term Debt to Total Capital	2.36%	13.38%	13.39%	11.94%	11.18%	1.59%	1.69%	0.68%	0.68%	0.73%	0.84%
Long-Term Debt to Total Capital	377.98%	384.97%	381.74%	357.41%	334.39%	333.89%	324.30%	315.22%	317.39%	306.81%	318.80%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-280.34%	-298.35%	-295.12%	-269.35%	-245.58%	-235.48%	-225.99%	-215.90%	-218.07%	-207.54%	-219.67%
Debt to EBITDA	5.13	5.10	5.04	4.91	4.74	4.52	4.51	4.44	4.42	4.38	4.33
Net Debt to EBITDA	4.95	4.94	4.89	4.72	4.47	4.31	4.25	4.27	4.24	4.15	4.10
Long-Term Debt to EBITDA	5.10	4.93	4.87	4.75	4.59	4.50	4.49	4.43	4.41	4.37	4.32
Debt to NOPAT	7.02	6.80	7.12	6.32	5.96	5.50	5.49	5.60	5.72	6.03	6.38
Net Debt to NOPAT	6.77	6.59	6.91	6.08	5.62	5.25	5.17	5.40	5.48	5.70	6.04
Long-Term Debt to NOPAT	6.98	6.57	6.88	6.12	5.77	5.47	5.46	5.59	5.71	6.02	6.36
Altman Z-Score	0.77	0.86	0.95	1.17	1.16	1.34	1.49	1.50	1.58	1.61	1.79
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.28	0.97	0.99	1.02	1.13	1.26	1.49	1.44	1.37	1.47	1.40
Quick Ratio	0.80	0.61	0.62	0.74	0.87	0.98	1.13	0.98	0.98	1.10	1.07
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	164	281	348	438	463	391	270	22	88	282	156
Operating Cash Flow to CapEx	742.62%	373.55%	612.28%	967.65%	1,538.71%	422.64%	955.26%	1,103.23%	1,385.29%	483.96%	721.43%
Free Cash Flow to Firm to Interest Expense	1.33	2.05	2.68	3.50	3.67	2.96	2.31	0.19	0.73	2.16	1.30
Operating Cash Flow to Interest Expense	3.65	3.30	2.68	2.63	3.79	3.39	3.10	2.83	3.93	3.92	3.37
Operating Cash Flow Less CapEx to Interest Expense	3.16	2.42	2.25	2.36	3.54	2.59	2.78	2.57	3.64	3.11	2.90
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.10	1.16	1.20	1.20	1.19	1.17	1.17	1.16	1.15	1.17	1.20
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	5.82	5.75	5.92	5.94	6.22	5.98	5.98	5.84	5.88	6.04	6.12
Accounts Payable Turnover	1.52	1.45	1.61	1.74	1.67	1.57	1.70	1.79	1.81	1.89	2.09
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	240.26	252.55	227.03	209.45	219.21	232.82	214.77	203.82	201.32	192.70	174.59
Cash Conversion Cycle (CCC)	-240.26	-252.55	-227.03	-209.45	-219.21	-232.82	-214.77	-203.82	-201.32	-192.70	-174.59
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,637	2,608	2,624	2,695	2,679	2,825	2,780	3,130	3,062	3,069	2,947
Invested Capital Turnover	2.67	2.74	2.68	2.62	2.66	2.60	2.60	2.44	2.52	2.56	2.70
Increase / (Decrease) in Invested Capital	240	221	75	63	42	217	156	435	383	244	167
Enterprise Value (EV)	40,452	46,205	47,519	49,199	45,187	46,568	49,183	47,863	49,870	48,296	54,828
Market Capitalization	29,273	34,721	36,121	38,068	34,318	35,885	38,647	37,103	39,134	37,579	44,078
Book Value per Share	($30.02)	($31.51)	($31.32)	($30.12)	($29.23)	($28.03)	($27.54)	($27.09)	($27.29)	($27.41)	($27.96)
Tangible Book Value per Share	($33.44)	($35.03)	($34.86)	($33.73)	($32.82)	($31.67)	($31.13)	($31.12)	($31.39)	($31.53)	($32.14)
Total Capital	3,047	2,975	2,973	3,132	3,335	3,337	3,432	3,534	3,519	3,685	3,553
Total Debt	11,589	11,851	11,747	11,568	11,525	11,195	11,188	11,164	11,193	11,333	11,357
Total Long-Term Debt	11,517	11,453	11,349	11,194	11,152	11,142	11,130	11,140	11,169	11,306	11,327
Net Debt	11,179	11,484	11,398	11,131	10,869	10,683	10,536	10,760	10,736	10,717	10,750
Capital Expenditures (CapEx)	61	121	57	34	31	106	38	31	34	106	56
Debt-free, Cash-free Net Working Capital (DFCFNWC)	13	-25	40	-35	-82	-127	-8.00	119	6.00	13	-81
Debt-free Net Working Capital (DFNWC)	423	342	389	402	574	385	644	523	463	629	526
Net Working Capital (NWC)	351	-56	-9.00	28	201	332	586	499	439	602	496
Net Nonoperating Expense (NNE)	73	131	123	83	89	145	112	90	89	103	70
Net Nonoperating Obligations (NNO)	11,179	11,484	11,398	11,131	10,869	10,683	10,536	10,760	10,736	10,717	10,751
Total Depreciation and Amortization (D&A)	33	42	29	38	37	49	35	41	44	55	45
Debt-free, Cash-free Net Working Capital to Revenue	0.19%	-0.37%	0.58%	-0.50%	-1.16%	-1.79%	-0.11%	1.67%	0.08%	0.17%	-1.05%
Debt-free Net Working Capital to Revenue	6.30%	5.00%	5.61%	5.75%	8.13%	5.44%	9.16%	7.36%	6.41%	8.33%	6.80%
Net Working Capital to Revenue	5.23%	-0.82%	-0.13%	0.40%	2.85%	4.69%	8.34%	7.02%	6.08%	7.97%	6.41%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.16	$1.31	$1.07	$1.49	$1.48	$1.64	$1.11	$1.30	$1.36	$1.51	$0.91
Adjusted Weighted Average Basic Shares Outstanding	281.69M	280.11M	280.09M	280.21M	280.31M	281.34M	281.63M	281.17M	279.07M	279.10M	277.96M
Adjusted Diluted Earnings per Share	$1.14	$1.30	$1.05	$1.46	$1.46	$1.62	$1.10	$1.28	$1.35	$1.49	$0.90
Adjusted Weighted Average Diluted Shares Outstanding	281.69M	280.11M	280.09M	280.21M	280.31M	281.34M	281.63M	281.17M	279.07M	279.10M	277.96M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	281.69M	280.11M	280.09M	280.21M	280.31M	281.34M	281.63M	281.17M	279.07M	279.10M	277.96M
Normalized Net Operating Profit after Tax (NOPAT)	402	492	420	486	489	619	422	447	462	524	320
Normalized NOPAT Margin	24.52%	24.36%	25.51%	28.82%	28.65%	30.39%	26.42%	25.35%	25.30%	22.18%	17.92%
Pre Tax Income Margin	27.26%	21.15%	22.55%	28.33%	29.57%	22.79%	23.97%	27.62%	27.49%	22.35%	24.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.39	4.18	4.04	4.59	4.88	4.62	4.46	5.02	5.18	5.03	4.57
NOPAT to Interest Expense	3.26	3.67	3.25	4.01	4.01	4.60	3.64	3.78	3.93	4.02	2.69
EBIT Less CapEx to Interest Expense	3.90	3.29	3.60	4.32	4.63	3.82	4.14	4.77	4.89	4.22	4.10
NOPAT Less CapEx to Interest Expense	2.77	2.78	2.81	3.74	3.76	3.80	3.32	3.52	3.64	3.21	2.23
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	49.45%	48.98%	53.26%	46.55%	44.39%	42.45%	43.33%	45.90%	48.17%	50.61%	53.40%
Augmented Payout Ratio	162.23%	139.55%	127.24%	95.35%	80.00%	45.59%	43.33%	49.10%	69.59%	80.28%	100.42%

Key Financial Trends

Yum! Brands (NYSE: YUM) has demonstrated generally solid financial performance over the last four years, with some variations in revenue, expenses, and profitability. Below is a concise analysis of key trends and data points derived from their quarterly financial statements from Q3 2022 through Q1 2025.

Revenue Growth: Operating revenue rose from approximately $1.64 billion in Q3 2022 to $1.79 billion in Q1 2025, reflecting steady expansion with some quarter-to-quarter fluctuations.
Gross Profit Improvement: Gross profit increased consistently, reaching about $1.23 billion in Q1 2025 compared to $1.21 billion in Q3 2022, suggesting effective cost control over cost of revenue relative to sales.
Operating Income Robustness: Operating income remained strong, peaking around $657 million in Q4 2024 before moderating to $548 million in Q1 2025. This indicates sustained profitability from core operations.
Net Income Growth: Net income attributable to common shareholders increased from around $331 million in Q3 2022 to $253 million in Q1 2025 quarter, with peak earnings seen in late 2023 and 2024.
Solid Operating Cash Flow: Net cash from continuing operating activities has remained healthy, with $404 million generated in Q1 2025 and generally strong operating cash flows in previous quarters, supporting business operations and investment needs.
Consistent Dividend Payments: Dividends per share have increased gradually from around $0.57 in late 2022 to $0.71 in Q1 2025, reflecting Yum! Brands’ commitment to returning capital to shareholders.
High Leverage: Long-term debt has stayed elevated around $11.3 billion to $11.5 billion, with total liabilities notably exceeding total equity resulting in negative common equity positions, indicating high leverage and financial risk.
Equity Deficit: The company shows a negative total common equity (about -$7.8 billion as of Q1 2025), which may concern some investors but can reflect share repurchases and accounting treatments rather than operational distress.
Rising Interest Expense: Interest expense has increased to around $120 million in Q1 2025 from approximately $124 million in Q3 2022, weighing on net income and pre-tax income margins.
Fluctuating Cash Flows from Financing Activities: Significant cash outflows tied to repurchasing common equity (e.g., $229 million in Q1 2025) and dividend payments impact liquidity and cash position, combining with debt repayments and issuances to create variability.

Overall, Yum! Brands shows steady revenue growth, profitability, and strong cash generation capability, coupled with disciplined capital returns through dividends. However, the company's elevated leverage and negative equity are financial structural factors warranting monitoring due to interest expense impacts and potential risks to financial flexibility.

08/03/25 11:27 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Yum! Brands' Financials

When does Yum! Brands' financial year end?

According to the most recent income statement we have on file, Yum! Brands' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Yum! Brands' net income changed over the last 9 years?

Yum! Brands' net income appears to be on a downward trend, with a most recent value of $1.49 billion in 2024, falling from $4.97 billion in 2015. The previous period was $1.60 billion in 2023. See where experts think Yum! Brands is headed by visiting Yum! Brands' forecast page.

What is Yum! Brands' operating income?

Yum! Brands' total operating income in 2024 was $2.40 billion, based on the following breakdown:

Total Gross Profit: $5.30 billion
Total Operating Expenses: $2.89 billion

How has Yum! Brands' revenue changed over the last 9 years?

Over the last 9 years, Yum! Brands' total revenue changed from $6.42 billion in 2015 to $7.55 billion in 2024, a change of 17.6%.

How much debt does Yum! Brands have?

Yum! Brands' total liabilities were at $14.38 billion at the end of 2024, a 2.0% increase from 2023, and a 102.9% increase since 2015.

How much cash does Yum! Brands have?

In the past 9 years, Yum! Brands' cash and equivalents has ranged from $292 million in 2018 to $1.52 billion in 2017, and is currently $616 million as of their latest financial filing in 2024.

How has Yum! Brands' book value per share changed over the last 9 years?

Over the last 9 years, Yum! Brands' book value per share changed from 2.11 in 2015 to -27.41 in 2024, a change of -1,397.3%.

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This page (NYSE:YUM) was last updated on 8/3/2025 by MarketBeat.com Staff

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Yum! Brands (YUM) Financials

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Frequently Asked Questions About Yum! Brands' Financials

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Yum! Brands (YUM) Financials

Annual Income Statements for Yum! Brands

Quarterly Income Statements for Yum! Brands

Annual Cash Flow Statements for Yum! Brands

Quarterly Cash Flow Statements for Yum! Brands

Annual Balance Sheets for Yum! Brands

Quarterly Balance Sheets for Yum! Brands

Annual Metrics And Ratios for Yum! Brands

Quarterly Metrics And Ratios for Yum! Brands

Key Financial Trends

Frequently Asked Questions About Yum! Brands' Financials

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Best-in-Class Portfolio Monitoring

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