# Yum! Brands, Inc. (YUM)

> Source: Nexqual · https://nexqual.com/YUM · data as of 2026-10-29 19:12 UTC · cite as "Nexqual, Yum! Brands, Inc. (YUM), nexqual.com/YUM" · informational, not investment advice.

**Price:** USD 154.4 (+2.82% today) · US market open, as of October 29, 2026 at 19:12 UTC; quotes may be delayed. Prev close 150.16 · day 152–154.4 · 52w 134.26–170.14 · market cap $42.1B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $8.72B, net income $2.22B (25.4% margin), free cash flow $1.68B (SEC filings).
- Valuation: P/E 19.0x (avg 25.4x at the last 3 fiscal year-ends).
- 3 of 80 tracked superinvestors hold YUM (13F, Q2 2026): 1 new, 0 added, 1 reduced, 1 unchanged.
- Insider open-market sales, last ~7 months: 18 Form 4 filings, $4.9M; 1 not under a Rule 10b5-1 plan ($464K); 1 by opportunistic insiders (0 outside 10b5-1 plans), 2 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.46 on a 1–5 scale) (26 analysts), mean target USD 170.61 (range 147–200).
- Total return with dividends: 1Y +13.1% vs S&P 500 +12.9%; 5Y +35.9% vs S&P 500 +78.7%.
- Next earnings: 2026-11-03, EPS estimate USD 1.46, revenue estimate $2.02B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $6.58B | $6.84B | $7.08B | $7.55B | $8.21B | $8.72B |
| Gross profit | $4.86B | $5.10B | $5.30B | $5.43B | $5.73B | — |
| Operating income | $2.14B | $2.19B | $2.32B | $2.40B | $2.57B | $2.70B |
| Net income | $1.57B | $1.32B | $1.60B | $1.49B | $1.56B | $2.22B |
| EPS (diluted) | $5.21 | $4.57 | $5.59 | $5.22 | $5.55 | — |
| Free cash flow | $1.48B | $1.15B | $1.32B | $1.43B | $1.64B | $1.68B |
| Gross margin | 73.8% | 74.5% | 74.9% | 71.9% | 69.8% | — |
| Operating margin | 32.5% | 32.0% | 32.8% | 31.8% | 31.3% | 31.0% |
| Net margin | 23.9% | 19.4% | 22.6% | 19.7% | 19.0% | 25.4% |
| Revenue growth | +16.5% | +3.9% | +3.4% | +6.7% | +8.8% | — |
| Cash + short-term investments | $486M | $367M | $512M | $707M | $709M | — |
| Total debt | $11.3B | $11.9B | $11.3B | $11.4B | $12.0B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 19.0x · P/S 4.8x · P/FCF 25.1x · FCF yield 3.98% · Earnings yield 5.26% · Dividend yield (paid, TTM) 1.92% · Buyback yield (TTM) 2.11%
P/E at fiscal year-ends: Dec 2025 27.3x, Dec 2024 25.7x, Dec 2023 23.3x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold YUM. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| William Von Mueffling | Cantillon Capital Management | 2.01% | $13.3M | Reduced -95.4% |
| Terry Smith | Fundsmith | 0.65% | $88.9M | New position |
| Thomas Gayner | Markel Group | 0.30% | $39.2M | Unchanged |

## Insider sales (SEC Form 4, open-market, last ~7 months)
17 of 18 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-07 | Turner Christopher Lee | Chief Executive Officer | 285 | $40K | 0.4% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-10-01 | Mezvinsky Scott | KFC Division CEO | 241 | $33K | 100% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-01 | Mezvinsky Scott | KFC Division CEO | 268 | $41K | 15.3% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-01 | Turner Christopher Lee | Chief Executive Officer | 261 | $40K | 0.4% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-08-24 | Skeans Tracy L | COO and CPO | 3,494 | $552K | 99.9% | Yes | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
| 2026-08-03 | Russell David Eric | Sr. Vice President, Controller | 7,961 | $1.2M | 40% | Yes | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-03 | Mezvinsky Scott | KFC Division CEO | 268 | $41K | 100% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-03 | Turner Christopher Lee | Chief Executive Officer | 261 | $40K | 0.4% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-07-01 | Mezvinsky Scott | KFC Division CEO | 277 | $44K | 15.7% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-01 | Powell Aaron | CEO - Pizza Hut | 6,001 | $963K | 33.3% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-01 | Turner Christopher Lee | Chief Executive Officer | 250 | $40K | 0.4% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-06-01 | Mezvinsky Scott | KFC Division CEO | 261 | $39K | 100% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-01 | Turner Christopher Lee | Chief Executive Officer | 270 | $40K | 0.4% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-05-26 | Tresvant Sean | Taco Bell, CEO, YUM CCO | 3,000 | $464K | 48.9% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-19 | Powell Aaron | CEO - Pizza Hut | 6,001 | $914K | 25% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-15 | Skeans Tracy L | COO and CPO | 1,837 | $279K | 34.4% | Yes | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
| 2026-05-01 | Turner Christopher Lee | CEO, Chairman of Board | 250 | $40K | 0.4% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-05-01 | Mezvinsky Scott | KFC Division CEO | 277 | $44K | 100% | Yes | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.46 on a 1–5 scale), 26 analysts; mean target USD 170.61 (low 147, high 200).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-21 | Citigroup | Target lowered | Neutral | $176 → $163 |
| 2026-10-07 | TD Cowen | Target lowered | Buy | $180 → $177 |
| 2026-10-06 | Guggenheim | Target lowered | Buy | $180 → $155 |
| 2026-09-29 | JP Morgan | Target lowered | Overweight | $160 → $150 |
| 2026-09-24 | Argus Research | Downgrade | Buy → Hold |  |
| 2026-09-16 | Baird | Target lowered | Outperform | $174 → $165 |
| 2026-09-16 | Seaport Global | Initiated | Buy | $162 |
| 2026-09-10 | Wells Fargo | Upgrade | Equal-Weight → Overweight | $165 → $175 |
| 2026-08-17 | Argus Research | Target lowered | Buy | $185 → $180 |
| 2026-08-04 | JP Morgan | Target lowered | Overweight | $170 → $160 |
| 2026-07-31 | RBC Capital | Target raised | Sector Perform | $165 → $170 |
| 2026-07-13 | Citigroup | Target raised | Neutral | $175 → $178 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +13.1% | +35.9% |
| S&P 500 (SPY) | +12.9% | +78.7% |
| Per year | +13.1% | +6.3% |
| Volatility (annualized) | 24.6% | 20.8% |
| Max drawdown | -18.5% (Jul 2026→Sep 2026) | -22.3% (Dec 2021→Sep 2022) |

## Peers (Restaurants)
CMG (Chipotle Mexican Grill, Inc.) USD 31.34 +9.07% · QSR (Restaurant Brands International) USD 73.53 -1.33% · DRI (Darden Restaurants, Inc.) USD 220.49 +1.81% · YUMC (Yum China Holdings, Inc.) USD 45.11 +1.39% · SBUX (Starbucks Corporation) USD 104.75 +1.50% · TXRH (Texas Roadhouse, Inc.) USD 183.03 +4.74%

## More
Full page: https://nexqual.com/YUM · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in YUM's own 10-K filed 2026-02-20 (https://www.sec.gov/Archives/edgar/data/1041061/000104106126000084/yum-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Taco Bell | "Customers are increasingly using our internally-owned e-commerce websites and apps, such as kfc.com, tacobell.com, pizzahut.com, habitburger.com, and the KFC, Taco Bell, Pizza Hut and the Habit Burger & Grill apps in the…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.46 | $1.68 | -13.5% | $2.02B | 16 |
| Next quarter (ends 2026-12-31) | $1.75 | $1.99 | -11.9% | $2.42B | 16 |
| Current fiscal year (ends 2026-12-31) | $6.34 | $6.75 | -5.9% | $8.67B | 19 |
| Next fiscal year (ends 2027-12-31) | $6.84 | $7.45 | -8.2% | $8.64B | 19 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $1.62 | $1.56 | Beat +3.8% | — |
| — | Quarter ended Mar 31, 2026 | $1.50 | $1.39 | Beat +7.9% | — |
| — | Quarter ended Dec 31, 2025 | $1.73 | $1.76 | Miss −1.7% | — |
| — | Quarter ended Sep 30, 2025 | $1.58 | $1.48 | Beat +6.8% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-16 | Schedule 13G/A | JPMORGAN CHASE & CO.: 6.1% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1041061/000001961726000388/0000019617-26-000388-index.htm |
| 2026-09-01 | 8-K | Director or executive officer change, or pay arrangement; Regulation FD disclosure; Other material event — “(the " Company "), resigned from his position as Pizza Hut CEO and all other positions with the Company effective September 1, 2026, in connection with the closing of the Pizza Hut Transaction (as defined below).” | https://www.sec.gov/Archives/edgar/data/1041061/000104106126000187/0001041061-26-000187-index.htm |
| 2026-08-28 | 8-K/A | Director or executive officer change, or pay arrangement — “(d) YUM! Brands, Inc. (the "Company") is filing this amendment to its Current Report on Form 8-K filed on August 20, 2026, which reported the appointment of Steve Bratspies to the Company's Board of Directors (the "Board"). At the time of his appointment, the Board had not appointed Mr. Bratspies to any of its standing committees. On August 27, 2026, the Board appointed Mr. Bratspies to the Board's Management Planning and Development Committee, effective immediately.” | https://www.sec.gov/Archives/edgar/data/1041061/000104106126000180/0001041061-26-000180-index.htm |
| 2026-08-21 | 8-K | Director or executive officer change, or pay arrangement — “d) On August 20, 2026, the Board of Directors of Yum! Brands, Inc. (the "Company") appointed Steve Bratspies as a director. His appointment is effective August 26, 2026, and he will stand for election to the Board of shareholders at the Company's next Annual Meeting. As of the date of this filing, Mr. Bratspies has not been appointed to a committee of the Board. Consistent with the Company's standard compensation arrangements for non-employee directors, which are described in the Company's most recent proxy…” | https://www.sec.gov/Archives/edgar/data/1041061/000104106126000171/0001041061-26-000171-index.htm |
| 2026-08-07 | 8-K/A | Director or executive officer change, or pay arrangement — “(d) YUM! Brands, Inc. (the "Company") is filing this amendment to its Current Report on Form 8-K filed on April 1, 2026, which reported the appointment of Kathleen Oberg to the Company's Board of Directors (the "Board"). At the time of her appointment, the Board had not appointed Ms. Oberg to any of its standing committees. On May 13, 2026, the Board appointed Ms. Oberg to the Board's Audit Committee, effective immediately.” | https://www.sec.gov/Archives/edgar/data/1041061/000104106126000165/0001041061-26-000165-index.htm |
| 2026-08-07 | 8-K | Entered a material agreement; Completed an acquisition or sale of assets; Regulation FD disclosure — “A&R MLA On August 7, 2026, in connection with the completion of the China Transaction (as defined in Item 2.01 below), YRI China Franchising, LLC (" YRICF "), a subsidiary of Yum! Brands, Inc. (the " Company "), entered into that certain Amended and Restated Master License Agreement (the " A&R MLA ") with Yum Restaurants Consulting (Shanghai) Company Limited (" YCCL "), a subsidiary of Yum China Holdings, Inc. (" Yum China "). The A&R MLA amends and restates the master license agreement that previously governed…” | https://www.sec.gov/Archives/edgar/data/1041061/000110465926092305/0001104659-26-092305-index.htm |
| 2026-08-05 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1041061/000104106126000160/0001041061-26-000160-index.htm |
| 2026-07-30 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1041061/000104106126000149/0001041061-26-000149-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.