Yum China Holdings Inc
YUMCBuild a strategy around YUMC
Yum China Holdings Inc AI Insights
Informational only. Not investment advice.Snapshot
- Operating margin 11.2% TTM vs industry median 5.1% - 2.2x advantage despite thin restaurant margins, signaling scale benefits[Operating Margin TTM]
- Goodwill of 1.9B is 34% of equity - manageable but concentrated in China market exposure[Goodwill]
- FCF of 941M TTM (8.1% yield on market cap) funds 0.88 dividend while maintaining 0.40 debt/equity[Free Cash Flow TTM]
Watch Triggers
- Gross Margin TTM: Falls below 15% — Already 9pts below industry median - further compression signals pricing power loss
- Same-Store Sales Growth: Turns negative for 2+ quarters — Would indicate China consumer weakness overwhelming operational improvements
- Free Cash Flow TTM: Drops below 700M — Threatens dividend sustainability and buyback capacity
Bull Case
Scale dominance: 11.6B revenue (17x industry median) with 2x operating margins creates reinvestment flywheel - ROIC 10.9% vs 3.0% median
Capital-light cash machine: 941M FCF on 567M capex (1.7x coverage) enables dividends + buybacks without leverage
Bear Case
China concentration risk: 100% revenue exposure to slowing consumer economy with no geographic diversification hedge
Gross margin 17.2% TTM below industry median 26.3% - commodity/labor cost inflation could compress already thin margins
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
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Forward Thesis
Margin expansion to continue as digital/delivery mix shifts fixed costs lower per transaction
- Operating margin 11.2% already 2x industry
- Asset turnover 1.01x above median 0.90x
- Capex only 567M vs 1.5B operating cash flow
Valuation Context
Caveats
YUMC Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$16.27B | — | ||
$18.1B | — | ||
18 | — | ||
$11.8B | +4.4% | — | |
$2.51 | +13.0% | — | |
11.2% | +0.6% | — | |
7.87% | -0.2% | — | |
$840.0M | +17.6% | — | |
16.7% | +1.7% | — | |
Beta 5Y (Monthly) | unknown | — |
YUMC Dividend History
2026
$0.58002025
$0.96002024
$0.64002023
$0.52002022
$0.48002021
$0.48002020
$0.24002019
$0.48002018
$0.42002017
$0.1000YUMC Stock Splits
YUMC SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/27/26 | 12/31/25 | Unknown | |
11/10/25 | 09/30/25 | 10-Q | |
08/11/25 | 06/30/25 | 10-Q | |
05/09/25 | 03/31/25 | 10-Q | |
02/27/25 | 12/31/24 | 10-K | |
11/08/24 | 09/30/24 | 10-Q | |
08/09/24 | 06/30/24 | 10-Q | |
05/08/24 | 03/31/24 | 10-Q | |
02/29/24 | 12/31/23 | 10-K | |
11/09/23 | 09/30/23 | 10-Q | |
08/09/23 | 06/30/23 | 10-Q | |
05/08/23 | 03/31/23 | 10-Q | |
03/01/23 | 12/31/22 | 10-K | |
11/09/22 | 09/30/22 | 10-Q | |
08/09/22 | 06/30/22 | 10-Q | |
05/06/22 | 03/31/22 | 10-Q | |
02/28/22 | 12/31/21 | 10-K | |
11/08/21 | 09/30/21 | 10-Q | |
08/06/21 | 06/30/21 | 10-Q | |
05/06/21 | 03/31/21 | 10-Q | |
02/26/21 | 12/31/20 | 10-K | |
11/06/20 | 09/30/20 | 10-Q | |
08/06/20 | 06/30/20 | 10-Q | |
05/08/20 | 03/31/20 | 10-Q | |
02/27/20 | 12/31/19 | 10-K | |
11/08/19 | 09/30/19 | 10-Q | |
08/05/19 | 06/30/19 | 10-Q | |
05/10/19 | 03/31/19 | 10-Q | |
02/27/19 | 12/31/18 | 10-K | |
11/08/18 | 09/30/18 | 10-Q | |
08/08/18 | 06/30/18 | 10-Q | |
05/04/18 | 03/31/18 | 10-Q | |
02/27/20 | 12/31/17 | 10-K | |
02/27/18 | 12/31/17 | 10-K | |
11/08/18 | 09/30/17 | 10-Q | |
10/06/17 | 08/31/17 | 10-Q | |
08/08/18 | 06/30/17 | 10-Q | |
07/07/17 | 05/31/17 | 10-Q | |
05/04/18 | 03/31/17 | 10-Q | |
02/28/17 | 02/28/17 | 10-Q | |
11/17/16 | 08/31/16 | 10-Q | |
10/06/16 | 05/31/16 | IPO-Q | |
02/29/16 | 02/29/16 | 10-12B/A | |
11/17/16 | 08/31/15 | 10-Q |