📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

📊 Sector Averages

About

Yum China Holdings, Inc. owns, operates, and franchises restaurants in the Peopleâs Republic of China.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding YUMC

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	537.7K	$26.2M	0.04%	Mar 2026
Steve Cohen Point72 Asset Management	157.2K	$7.7M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly highlighted record highs in revenue, operating profit, and margin, and provided specific numerical targets and metrics (e.g., 1% Same-Store Sales growth, 14% operating profit growth), while acknowledging headwinds but expressing confidence in full-year targets.

Q3 2025

Confident Specific

Management repeatedly used words like 'solid', 'resilient', 'record', and 'we made it happen' while citing precise figures (system sales +4%, restaurant margin 17.3%, operating profit +8% to $400M, 536 net new stores). They clearly attributed success to their RGM strategy and execution.

Q4 2025

Confident Specific

Management repeatedly uses phrases like 'strong results', 'exceed our expectations', 'confident we can continue rapid growth', and provides specific metrics (e.g., 'OP margin expanded year-over-year every quarter', 'system sales growth improved sequentially to 7% in Q4'). The tone is assertive and data-driven.

Q1 2026 latest

Confident Specific

Management repeatedly emphasized solid results, record performance, and achievement of targets with specific metrics like 10% revenue growth, 12% operating profit growth, 636 net new stores, and eighth consecutive quarter of growth across revenue, operating profit, and system sales.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call due to solid Q1 execution, record store openings, and acceleration of high-ROI side-by-side modules (KCOFFEE, KPRO). Management raised expansion targets for both modules, indicating confidence in the model. Pizza Hut's turnaround is delivering margin expansion as promised. Rider cost headwinds persist but are expected to moderate in H2, and delivery platform competition is becoming more rational. The maintained full-year guidance and increased capital return commitment support shareholder value. However, same-store sales growth remains modest, and the exact trajectory of margin improvement depends on delivery mix stabilization. Key to watch next quarter: actual same-store sales trend, KCOFFEE/KPRO unit economics as they scale, and whether Pizza Hut WOW expansion sustains margin levels.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Yum China Q1 2026: Revenue +10%, OP +12%, 636 net new stores.

Revenue & Profitability

Q1 2026 revenue grew 10% in reporting currency; operating profit increased 12% in reporting currency (6% ex-FX). Net income was $309 million (flat year-over-year; up 4% excluding Meituan investment impact). Diluted EPS was $0.87, up 7% (11% ex-Meituan). Operating profit margin expanded 20 basis points year-over-year to 13.7%.

Outlook

Management sees early signs of improving consumer sentiment and more rational competition among delivery platforms, which they view as positive for the mid-to-long term. However, March 2026 was slightly softer due to timing of Chinese New Year and spring break. For Q2, same-store sales growth is expected to sequentially improve for Yum China, KFC, and Pizza Hut.

Growth Drivers

Key growth levers include rapid expansion of KCOFFEE cafes (target 5,000 by end 2027, ahead of original plan) and KPRO (target 600 locations by year-end). Pizza Hut's WOW store model (nearly 390 stores) and the Gemini model (WOW side-by-side with KFC) open lower-tier city opportunities. Drive-through/car-side pickup services now at over 7,000 KFC stores; partnerships with car companies including BYD for in-car ordering.

Balance Sheet & CapEx

Not discussed in detail, but the call noted lower CapEx requirements for car-side pickup (no dedicated drive-through lanes) and for Pizza Hut WOW stores, which have a lower CapEx model. Franchisees contributed 42% of net new stores in Q1, supporting capital-efficient expansion.

Margins

Q1 restaurant margin was 18.2%, down 40 bps year-over-year due to higher rider costs (delivery mix rose from 42% to 54%). Operating profit margin expanded 20 bps to 13.7%, driven by G&A savings and improved occupancy costs. For FY2026, management expects a slight improvement in both restaurant margin and OP margin, with rider cost pressure moderating in the second half. Q2 OP margin expected roughly stable year-over-year.

Key Risks

Key risks include persistent rider cost pressure from increasing delivery mix (now 54% of sales). The delivery sales mix rise creates a 190 bps margin headwind, partially offset by efficiency gains. The Middle East situation is expected to have limited impact on cost of sales this year, as most procurement contracts are secured. March 2026 was slightly softer than expected due to holiday shifts and comparison with prior year's IP campaigns.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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🔎 See cross-company document search → ?

📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-30

Q2 saw strong revenue, profit, and margin growth, with accelerated store expansion and robust innovation across brands. The Pizza Hut brand acquisition is set to boost margins and accelerate store openings, while capital returns remain a priority. Rider costs and market conditions are being actively managed.

Q1 2026 Q1 2026 2026-04-29

Revenue grew 10% and operating profit 12% in Q1 2026, with 636 net new stores opened and strong performance from both KFC and Pizza Hut. Rider costs pressured margins, but efficiency gains and innovation supported growth. Guidance remains for margin improvement and robust capital returns.

Q4 2025 Q4 2025 2026-02-04

Achieved strong growth in 2025 with 1,700+ net new stores, 7% Q4 system sales growth, and record operating profit. Margins improved despite higher delivery mix, and $1.5 billion was returned to shareholders. Outlook for 2026 targets over 20,000 stores and continued margin gains.

Q3 2025 Q3 2025 2025-11-04

Q3 saw 4% system sales growth and 1% same-store sales growth, with margins and operating profit expanding year-over-year. Store expansion accelerated, innovation drove transaction growth, and capital returns to shareholders remained robust.

Q2 2025 Q2 2025 2025-08-05

Q2 2025 saw record revenue, operating profit, and margin, with System Sales up 4% and Same-Store Sales turning positive. Store expansion and delivery growth drove results, while disciplined cost management and innovation supported margin gains. Guidance for store openings and sales growth was reiterated.

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