Short answer
Yum! Brands (YUM) filed its fiscal 2025 10-K annual report with the SEC on Feb 20, 2026. It reported revenue of $8.2B (+8.8% year over year) and net income of $1.6B.
- Top risk flagged: Regulatory risk from evolving franchise and licensing fees subject to international trade laws in 155 countries impacting 97% franchised 63,000+ restaurants
FY2025 key financial metrics · XBRL
- Revenue
- $8.2B
- +8.8% YoY
- Net income
- $1.6B
- +4.9% YoY
- Operating margin
- 31.3%
- −0.5 pp YoY
- EPS (diluted)
- $5.55
- +6.3% YoY
- ROE
- -21.3%
- −1.9 pp YoY
- Operating cash flow
- $2.0B
- +19.0% YoY
Source: XBRL data from the Yum! Brands (YUM) FY2025 10-K on SEC EDGAR. USD.
Yum! Brands FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Global quick-service restaurant operator with brands KFC, Pizza Hut, Taco Bell
- Emphasis on expanding digital ordering and delivery capabilities amid increasing consumer demand
- Strategic focus on enhancing customer experience through technology integration and menu innovation
- Employee count increased to approximately 41,000, reflecting growth in global operations
- Noteworthy focus on sustainability initiatives and reduction of environmental impact across supply chain
Management Discussion & Analysis
- Revenue $8.214B, up 9% YoY from $7.549B in 2024; system sales ex-FX +5% worldwide and +6% KFC, +8% Taco Bell, -2% Pizza Hut
- Operating profit $2.574B, margin 31.3% (2,574/8,214) vs 31.8% (2,403/7,549) in 2024; core operating profit $2.684B, up 5% YoY, excluding special items +7%
- Best segment: KFC operating profit $1.503B (+10% YoY core op. profit), worst: Pizza Hut operating profit $340M (-9% YoY core op. profit)
- Net income $1.559B, up 5%; EPS $5.55, up 6%; company restaurant profit margin 15.7% down from 16.9% in 2024
- Capital allocation: 1,939 net new units opened; no explicit buyback/dividend/capex figures disclosed
- Outlook: ongoing Pizza Hut strategic review expected to incur further costs in 2026; uncertain outcomes; impacts of 2025 US tax reform (OBBBA) expected minimal on effective tax rate (22.7% ex-special items)
Risk Factors
- Regulatory risk from evolving franchise and licensing fees subject to international trade laws in 155 countries impacting 97% franchised 63,000+ restaurants
- Macroeconomic exposure to social or civil unrest causing temporary restaurant closures affecting same-store sales growth calculations across global operations
- Operational risk in rapidly scaling Habit Burger & Grill fast-casual concept potentially affecting unit economics and franchisee performance
- Competitive risk from digital platform innovation through Byte by Yum! needing to outperform third-party delivery and ordering technologies
- Financial risk targeting consolidated net leverage ratio balancing shareholder returns and cost of capital amid capital-light franchisor model investments
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