Yum! Brands (YUM) financial statements

Consumer Cyclical · Restaurants · Market cap $40.0B

Yum! Brands reported revenue of $8.2B in fiscal 2025, up 2.9% a year over 9 years.

Net income was $1.6B and the operating margin 31.3%, against 26.5% in 2016.

Free cash flow was $1.6B, and the company returned $789M in dividends and $552M in net buybacks.

The diluted share count fell 30% over the period (buybacks).

Revenue and free cash flow

Fiscal years, $ billions.

02.557.5102016201720182019202020212022202320242025RevenueFree cash flow
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Income statement

Fiscal years, from Yum! Brands's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Revenue$6.4B$5.9B$5.7B$5.6B$5.7B$6.6B$6.8B$7.1B$7.5B$8.2B
Cost of revenue—$3.0B$1.6B$1.2B$1.5B$1.7B$1.7B$1.8B$2.1B$2.5B
Gross profit—$2.9B$4.1B$4.4B$4.1B$4.9B$5.1B$5.3B$5.4B$5.7B
Selling, general and admin—$999M$895M$917M$1.1B$1.1B$1.1B$1.2B$1.2B$1.3B
Operating income$1.7B$2.8B$2.3B$1.9B$1.5B$2.1B$2.2B$2.3B$2.4B$2.6B
Interest expense$331M$473M$496M$519M$558M$551M$558M$602M$542M$544M
Pre-tax income$1.3B$2.3B$1.8B$1.4B$1.0B$1.7B$1.7B$1.8B$1.9B$2.1B
Income tax—$934M$297M$79M$116M$99M$337M$221M$414M$518M
Net income$1.6B$1.3B$1.5B$1.3B$904M$1.6B$1.3B$1.6B$1.5B$1.6B
Diluted shares400M355M329M313M307M302M290M285M285M281M
Gross margin—49.7%71.3%77.9%73.4%73.8%74.5%74.9%71.9%69.8%
Operating margin26.5%47.0%40.4%34.5%26.6%32.5%32.0%32.8%31.8%31.3%
Net margin25.8%22.8%27.1%23.1%16.0%23.9%19.4%22.6%19.7%19.0%

Balance sheet

Fiscal years, from Yum! Brands's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Cash and short-term investments$725M$1.5B$292M$605M$730M$486M$367M$512M$707M$709M
Inventory$37M—————————
Total current assets$1.5B$2.5B$1.2B$1.5B$1.7B$1.5B$1.6B$1.6B$1.9B$2.0B
Property, plant and equipment$2.1B$1.7B$1.2B$1.2B$1.2B$1.2B$1.2B$1.2B$1.3B$1.6B
Goodwill$536M$512M$525M$530M$597M$657M$638M$642M$736M$969M
Total assets$5.5B$5.3B$4.1B$5.2B$5.9B$6.0B$5.8B$6.2B$6.7B$8.2B
Total current liabilities$1.3B$1.5B$1.3B$1.5B$1.7B$1.4B$1.7B$1.3B$1.3B$1.5B
Long-term debt$9.1B$9.4B$9.8B$10.1B$10.3B$11.2B$11.5B$11.1B$11.3B$11.9B
Total liabilities$11.1B$11.6B$12.1B$13.2B$13.7B$14.3B$14.7B$14.1B$14.4B$15.5B
Shareholders' equity-$5.6B-$6.3B-$7.9B-$8.0B-$7.9B-$8.4B-$8.9B-$7.9B-$7.6B-$7.3B
Net debt$8.4B$8.3B$9.8B$10.0B$10.0B$10.8B$11.5B$10.7B$10.7B$11.2B

Cash flow

Fiscal years, from Yum! Brands's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Operating cash flow—$1.0B$1.2B$1.3B$1.3B$1.7B$1.4B$1.6B$1.7B$2.0B
Capital spending—$318M$234M$196M$160M$230M$279M$285M$257M$371M
Free cash flow—$712M$942M$1.1B$1.1B$1.5B$1.1B$1.3B$1.4B$1.6B
Stock-based compensation—$65M$50M$59M$97M$75M$84M$95M$69M$70M
Dividends paid—$416M$462M$511M$566M$592M$649M$678M$752M$789M
Share buybacks (net)—-$2.0B-$2.4B-$815M-$239M-$1.6B-$1.2B-$50M-$441M-$552M
Net borrowing—$703M$292M$469M$133M$493M$300M-$397M-$242M$527M
Free cash flow margin—12.1%16.6%20.0%20.3%22.4%16.8%18.6%19.0%20.0%
Dividends per share—$1.17$1.40$1.63$1.84$1.96$2.24$2.38$2.64$2.81
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Questions

What was Yum! Brands's revenue in 2025?

$8.2B in fiscal 2025, from its 10-K filing.

How much free cash flow does Yum! Brands generate?

$1.6B in fiscal 2025 (operating cash flow minus capital spending).

From Yum! Brands's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.