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Operates KFC, Pizza Hut and other restaurant brands across mainland China under an exclusive Yum! Brands license.
Operates KFC, Pizza Hut and other restaurant brands across mainland China under an exclusive Yum! Brands license.
Earns from restaurants it owns and operates directly, so it books the whole sales line and carries the food, labor and rent costs, with franchised stores a smaller part. It pays Yum! Brands a licence fee based on sales. KFC is far larger than Pizza Hut. It was spun off from Yum! Brands in 2016.
In one line: China's licensed operator of KFC and Pizza Hut, spun off from Yum! Brands in 2016..
Moat: narrow (brand, scale, distribution). Dominant KFC/Pizza Hut store network and supply chain across China built over three decades, though local rivals are growing.
Headquarters: Shanghai, China · Founded: 1987 · Employees: 290,000
Size Yum China (YUMC) is a United States Consumer Discretionary company (Restaurants) with a market value of $17.1B, the 548th largest of 3,117 United States companies the cockpit tracks. Shares closed at $49.95 on 6 Nov 2026.
Performance Over six months the shares gained 6.5%, against +11.9% for the median peer and -1.1% for the United States market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue grew 9.8% over the last twelve months (peer median +8.6%); the operating margin is 12.7% (peer median 11.5%).
Valuation It trades at 15.3× forward earnings against a peer median of 26.3× (3rd cheapest of 20).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -15 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.8 points above its cost of capital (6.2% WACC).
Short interest Short interest is 1.7% of the free float (15 Oct 2026).
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $12.7B | $11.8B | $11.3B | $11.0B | $9.57B |
| Revenue growth | — | +4% | +3% | +15% | — |
| Gross profit | $2.21B | $2.03B | $1.89B | $1.88B | $1.33B |
| EBITDA | $2.09B | $1.87B | $1.80B | $1.70B | $1.86B |
| Net income | $1.00B | $929M | $911M | $827M | $442M |
| Free cash flow | $964M | $840M | $714M | $763M | $734M |
| Capital expenditure | $1.88B | $626M | $705M | $710M | $679M |
| Total debt | $3.31B | $2.35B | $2.41B | $2.54B | $2.40B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Yum China YUMC | $17.1B | +6% | +10% | 13% | 15.3× | -7.5% |
| Yum! Brands YUM | $44.0B | +7% | +9% | 32% | 24.8× | -0.2% |
| Haidilao 6862.HK | $7.24B | -28% | +11% | 12% | 11.4× | 2.0% |
| McDonald's MCD | $196B | 0% | +6% | 46% | 20.7× | 4.1% |
| Starbucks SBUX | $120B | +1% | +2% | 11% | 32.6× | 18.5% |
| Restaurant Brands International QSR | $35.1B | -3% | +6% | 27% | 18.1× | 6.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | YUMC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +19.6% | +9.9% | 2nd highest of 21 |
| 6-month return | +6.5% | +11.9% | 8th lowest of 20 |
| Distance from 52-week high | -14.4% | -15.6% | 10th highest of 21 |
| Revenue growth (TTM) | +9.8% | +8.6% | 10th highest of 21 |
| Operating margin | 12.7% | 11.5% | 9th highest of 21 |
| Forward P/E | 15.3× | 26.3× | 3rd cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | -7.5% | 6.9% | least demanding of 20 |
| Growth delivered (Del g) | +7.4% | +13.6% | 3rd lowest of 20 |
| Hurdle (Req g minus delivered) | -14.9 pp | -3.3 pp | least demanding of 20 |
| ROIC minus cost of capital | +8.8 pp | +6.2 pp | 8th highest of 21 |
| EV / EBITDA | 9.3× | 16.2× | 2nd cheapest of 21 |
| Net debt / EBITDA | 0.8× | 3.0× | 4th least indebted of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Yum China YUMC | United States | $17.1B | +6% | +10% | 13% | 15.3× | -7.5% | +7.4% |
| Aramark ARMK | United States | $13.9B | +17% | +11% | 4% | 19.8× | 16.1% | +7.6% |
| Zensho 7550.T | Japan | $12.2B | +41% | +12% | 7% | 34.3× | 6.1% | +16.3% |
| Texas Roadhouse TXRH | United States | $12.1B | +4% | +10% | 8% | 26.8× | 13.8% | +19.6% |
| Darden Restaurants DRI | United States | $25.6B | +15% | +8% | 12% | 19.7× | 7.5% | +12.9% |
| Domino's DPZ | United States | $11.0B | +4% | +4% | 20% | 16.3× | 1.8% | +3.7% |
| Sodexo SW.PA | France | $9.91B | +28% | 0% | 3% | 17.7× | 6.0% | +6.6% |
| Brinker International EAT | United States | $8.58B | +49% | +6% | 11% | 14.7× | 9.3% | +11.7% |
| Restaurant Brands International QSR | United States | $35.1B | -3% | +6% | 27% | 18.1× | 6.3% | +13.7% |
| Restaurant Brands International LP QSP-UN.TO | Canada | $35.9B | +12% | +5% | 28% | n/a | 1.0% | +14.6% |
| Food & Life Companies 3563.T | Japan | $7.34B | +12% | +24% | 10% | 35.6× | 6.9% | +16.0% |
| McDonald's Holdings Company (Japan) 2702.T | Japan | $7.33B | +7% | +2% | 14% | 32.0× | 1.8% | +7.6% |
| Haidilao 6862.HK | Hong Kong | $7.24B | -28% | +11% | 12% | 11.4× | 2.0% | +7.8% |
| CAVA CAVA | United States | $6.91B | -26% | +27% | 7% | 85.5× | 41.5% | +27.9% |
| Chipotle Mexican Grill CMG | United States | $43.6B | +6% | +8% | 15% | 27.1× | 15.1% | +14.8% |
| Yum! Brands YUM | United States | $44.0B | +7% | +9% | 32% | 24.8× | -0.2% | +7.8% |
| Jersey Mike's Subs JMKE | United States | $6.03B | n/a | +11% | 21% | 26.3× | n/a | n/a |
| Dutch Bros BROS | United States | $5.90B | -36% | +30% | 10% | 31.0× | 36.3% | +38.0% |
| Cheesecake Factory CAKE | United States | $5.32B | +73% | +8% | 7% | 21.2× | 16.7% | +13.6% |
| Skylark 3197.T | Japan | $5.18B | +19% | +11% | 7% | 38.5× | 6.4% | +9.7% |
| Wingstop WING | United States | $4.42B | +26% | +7% | 28% | 35.3× | 21.9% | +22.9% |