Financial Snapshot

Revenue

TTM

$12.09B

Gross Margin

TTM

40.89%

Net Income

TTM

$946.0M

Current Assets

2026 Q1

$2.319B

Current Liabilities

2026 Q1

$2.304B

Current Ratio

2026 Q1

100.65%

Total Assets

2026 Q1

$10.84B

Total Liabilities

2026 Q1

$4.730B

Book Value

2026 Q1

6.107B

Cash

2026 Q1

$473.0M

P/E

TTM

15.66

Free Cash Flow

TTM

$931.0M

Stock Price

Market Cap: $14.814 Billion

About Yum China Holdings Inc

Yum China Holdings Inc (NYSE: YUMC) is a restaurant company that operates and franchises quick-service and casual-dining restaurants across mainland China. Revenue comes primarily from company-owned restaurant sales, supplemented by franchise fees and royalties from licensed locations. Yum China holds the exclusive right to operate and sublicense the KFC, Pizza Hut, and Taco Bell brands in China (excluding Hong Kong, Macau, and Taiwan), and owns the intellectual property of the Little Sheep and Huang Ji Huang concepts outright. As of December 31, 2025, the company operated 18,101 restaurants across its brand portfolio, making it the largest restaurant company in China by 2025 system sales. Total revenues reached $11.8 billion in FY2025. The brand portfolio includes KFC, Pizza Hut, Lavazza, Huang Ji Huang, Little Sheep, and Taco Bell. KFC entered China in 1987 and remains the flagship concept.

Revenue model: Company-owned restaurant sales (transactional, direct consumer) plus franchise fees and royalties from sublicensed locations. The company holds exclusive licensing rights for KFC, Pizza Hut, and Taco Bell in mainland China.
Products and services: Quick-service and casual-dining restaurants under the KFC, Pizza Hut, Taco Bell, Lavazza, Huang Ji Huang, and Little Sheep brands. KFC and Pizza Hut are the flagship concepts. Little Sheep and Huang Ji Huang are company-owned IP.
Customers and end markets: Direct consumers in mainland China dining at company-owned restaurants. Franchisees operating sublicensed KFC, Pizza Hut, and Taco Bell locations in China are secondary customers paying fees and royalties.
Value-chain role: Restaurant operator and franchisor. Owns and operates the majority of units directly while also sublicensing brand rights to franchisees within mainland China.
Geographic exposure: Exclusively mainland China (excluding Hong Kong, Macau, and Taiwan), per the exclusive licensing agreements for KFC, Pizza Hut, and Taco Bell brands.

Source: SEC 10-K, filed 2026-02-27

Industry: Retail-Eating Places Peers: Luckin Coffee Inc