Yum China Holdings, Inc. logo

Yum China Holdings, Inc.

9987.HK

HKSEConsumer CyclicalRestaurants

Latest quote

HK$378.8

−HK$9.00 · -2.32%

Aug 24, 4:08 PM HKT

9987.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

Yum China Holdings, Inc. stands as a prominent restaurant corporation in China, dedicated to the ownership, management, and franchising of a broad array of dining establishments throughout the country. Its operations are primarily structured around two significant divisions: KFC and Pizza Hut. The company's extensive brand portfolio includes well-known names like KFC, Pizza Hut, Little Sheep, Huang Ji Huang, Lavazza, COFFii & JOY, Taco Bell, and East Dawning, collectively catering to diverse culinary tastes with offerings such as fried chicken, pizza, hot pot, simmer pots, Italian and specialty coffees, Mexican-inspired dishes, and authentic Chinese cuisine. In addition to its restaurant ventures, Yum China oversees V-Gold Mall, a dedicated mobile e-commerce platform. This online retail channel provides a variety of goods, from electronics, home goods, and kitchen accessories to general merchandise, alongside convenient ready-to-eat meals like fried rice, steak, and pasta, and coffee capsules. By March 31, 2022, the enterprise had cultivated a vast presence, operating 12,117 restaurants across approximately 1,700 cities. Yum China Holdings, Inc. was established in 2016 and maintains its corporate headquarters in Shanghai, China.

Industry
Restaurants
Sector
Consumer Cyclical
Headquarters
CN
CEO
Joey Wat
Listed since
Sep 10, 2020
Employees
130,000

Market position

Day range

Current HK$378.8

52-week range

Current HK$378.8

Open
HK$387.6
Previous close
HK$387.8
Volume
808.63K
0.94× average
Average volume
861.68K
Average daily volume
Market cap
132.26B HKD
Beta
0.09
Market reference 1
50-day average
HK$351.1
+7.89% above average
200-day average
HK$375.62
+0.85% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
19.31B USD
P/E (TTM)
18.07×
P/B (TTM)
3.22×
P/S (TTM)
1.39×
EV / EBITDA
10.69×
Earnings yield
5.32%
Free cash flow yield
4.81%
Dividend yield
2.14%

Profitability & efficiency

Gross margin
17.23%
Operating margin
12.19%
Net margin
7.84%
Return on equity
17.27%
Return on assets
8.62%
Return on invested capital
11.84%

Financial health

Debt / equity
0.43×
Current ratio
1.05×
Altman Z-score
3.97
Piotroski F-score
7 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends19%13%8%3%Gross margin, FY2021: 13.83%Gross margin, FY2022: 13.90%Gross margin, FY2023: 17.17%Gross margin, FY2024: 16.72%Gross margin, FY2025: 17.28%Operating margin, FY2021: 8.55%Operating margin, FY2022: 8.71%Operating margin, FY2023: 10.07%Operating margin, FY2024: 10.28%Operating margin, FY2025: 12.36%Net margin, FY2021: 10.05%Net margin, FY2022: 4.62%Net margin, FY2023: 7.53%Net margin, FY2024: 8.06%Net margin, FY2025: 7.87%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 13.83%. Gross margin FY2022 13.90%. Gross margin FY2023 17.17%. Gross margin FY2024 16.72%. Gross margin FY2025 17.28%. Operating margin FY2021 8.55%. Operating margin FY2022 8.71%. Operating margin FY2023 10.07%. Operating margin FY2024 10.28%. Operating margin FY2025 12.36%. Net margin FY2021 10.05%. Net margin FY2022 4.62%. Net margin FY2023 7.53%. Net margin FY2024 8.06%. Net margin FY2025 7.87%.

Income trends

Revenue

11.8B USD+4.37%

Operating income

1.46B USD+25.47%

Net income

929M USD+1.98%
Income trends across reported periods12.93B USD8.39B USD3.85B USD−693.5M USDRevenue, FY2021: 9.85B USDRevenue, FY2022: 9.57B USDRevenue, FY2023: 10.98B USDRevenue, FY2024: 11.3B USDRevenue, FY2025: 11.8B USDOperating income, FY2021: 842M USDOperating income, FY2022: 833M USDOperating income, FY2023: 1.11B USDOperating income, FY2024: 1.16B USDOperating income, FY2025: 1.46B USDNet income, FY2021: 990M USDNet income, FY2022: 442M USDNet income, FY2023: 827M USDNet income, FY2024: 911M USDNet income, FY2025: 929M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 9.85B USD. Revenue FY2022 9.57B USD. Revenue FY2023 10.98B USD. Revenue FY2024 11.3B USD. Revenue FY2025 11.8B USD. Operating income FY2021 842M USD. Operating income FY2022 833M USD. Operating income FY2023 1.11B USD. Operating income FY2024 1.16B USD. Operating income FY2025 1.46B USD. Net income FY2021 990M USD. Net income FY2022 442M USD. Net income FY2023 827M USD. Net income FY2024 911M USD. Net income FY2025 929M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue11.8B USD11.3B USD10.98B USD9.57B USD9.85B USD
Cost of goods sold9.76B USD9.41B USD9.09B USD8.24B USD8.49B USD
Gross profit2.04B USD1.89B USD1.89B USD1.33B USD1.36B USD
Research and development6M USD6M USD6M USD
Selling, general, and administrative581M USD568M USD1.04B USD960M USD987M USD
Operating expenses581M USD728M USD779M USD497M USD521M USD
Interest income92M USD129M USD169M USD84M USD60M USD
Depreciation and amortization448M USD476M USD453M USD1.03B USD934M USD
Operating income1.46B USD1.16B USD1.11B USD833M USD842M USD
Net income929M USD911M USD827M USD442M USD990M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
91%
10 beats, 1 miss, 0 met estimates
Average EPS surprise
+12.31%
11 comparable reports
Latest EPS result
5.49
Estimate 5.25 · Beat by 4.57%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates7.395.573.751.93Q1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 6, 2025: actual 2.33, estimate 2.27, surprise +2.64%, Beat. Q2 2025, reported Apr 30, 2025: actual 5.99, estimate 6.13, surprise -2.28%, Miss. Q3 2025, reported Aug 5, 2025: actual 4.55, estimate 4.44, surprise +2.48%, Beat. Q4 2025, reported Nov 4, 2025: actual 5.92, estimate 5.78, surprise +2.42%, Beat. Q1 2026, reported Feb 4, 2026: actual 3.11, estimate 2.33, surprise +33.48%, Beat. Q2 2026, reported Apr 29, 2026: actual 6.82, estimate 6.69, surprise +1.94%, Beat. Q3 2026, reported Jul 30, 2026: actual 5.49, estimate 5.25, surprise +4.57%, Beat. Q4 2026, reported Nov 3, 2026: actual —, estimate 7.01, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates28.56B25.4B22.23B19.07BQ1 '25MissQ2 '25MissQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 6, 2025: actual 20.17B HKD, estimate 20.38B HKD, surprise -1.07%, Miss. Q2 2025, reported Apr 30, 2025: actual 23.2B HKD, estimate 24.06B HKD, surprise -3.58%, Miss. Q3 2025, reported Aug 5, 2025: actual 21.88B HKD, estimate 21.94B HKD, surprise -0.25%, Miss. Q4 2025, reported Nov 4, 2025: actual 24.96B HKD, estimate 24.82B HKD, surprise +0.55%, Beat. Q1 2026, reported Feb 4, 2026: actual 21.98B HKD, estimate 21.15B HKD, surprise +3.90%, Beat. Q2 2026, reported Apr 29, 2026: actual 25.65B HKD, estimate 25.19B HKD, surprise +1.82%, Beat. Q3 2026, reported Jul 30, 2026: actual 24.62B HKD, estimate 23.94B HKD, surprise +2.85%, Beat. Q4 2026, reported Nov 3, 2026: actual —, estimate 27.46B HKD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Rating distribution

14 ratings
Strong buy00%
Buy1179%
Hold321%
Sell00%
Strong sell00%

Recent analyst actions

4 institutions
BWG GlobalupgradeMixedPositive
MacquarieupgradeUnderperformOutperform

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

HK$7.5163

2025 complete year+101.3% since 2021

2026 partial: HK$4.546

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Aug 27, 2026

HK$2.2752

Quarterly

Record Aug 27, 2026 · Payment Sep 17, 2026

Dividend

Ex-dividend May 27, 2026

HK$2.2731

Quarterly

Record May 27, 2026 · Payment Jun 17, 2026

Dividend

Ex-dividend Mar 4, 2026

HK$2.2729

Quarterly

Record Mar 4, 2026 · Payment Mar 25, 2026

Dividend

Ex-dividend Dec 2, 2025

HK$1.8791

Quarterly

Record Dec 2, 2025 · Payment Dec 23, 2025

Dividend

Ex-dividend Sep 2, 2025

HK$1.874

Quarterly

Record Sep 2, 2025 · Payment Sep 23, 2025

Dividend

Ex-dividend May 28, 2025

HK$1.884

Quarterly

Record May 28, 2025 · Payment Jun 18, 2025

9987.HK peers

ETFs holding 9987.HK

Funds reporting this stock among their holdings, ordered by reported position size.

Continue in GoAI

Research 9987.HK

research.disclaimer