Yum China Holdings, Inc. · YUMC · FY2025 Q4 · Calendar Q1 2026

Yum China pairs expansion plans with delivery-cost and execution risks

Yum China’s FY2025 performance and operating plans support an expansion-led growth case, but delivery-related margin pressure and execution risks temper that view.

Reported Before market openNYSEConsumer Cyclical $16.39B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $0.40 Consensus $0.35
EPS surprise +14.3% Reported versus consensus
Reported revenue $2.82B Consensus $2.72B
Revenue surprise +3.9% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +4.7% Event window
SPY move -0.5% Same window
Abnormal move +5.2% Stock minus SPY
Volume 2.2× Versus trailing sessions
Subsequent drift -1.4% Up to 20 sessions
YUMCSPY benchmark

Ask FN2 about YUMC FY2025 Q4

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Transcript intelligence

What changed

The year-end call built on the prior quarter’s focus on restaurant expansion, product innovation and rising delivery mix, adding emphasis on Gemini formats, a larger franchise role and AI operating tools. The supplied analysis describes guidance sentiment as maintained.

Guidance delta

The analysis indicates maintained guidance sentiment. Management outlined store-expansion and franchise plans, but the supplied materials do not identify a change to numerical guidance.

Key takeaways

  • FY2025 system sales grew, alongside operating-profit and margin expansion, according to the supplied transcript analysis.
  • Management highlighted ongoing product innovation and expansion of new store formats as growth drivers.
  • Delivery represented a substantial share of sales; management cited pricing and efficiency measures as offsets to associated costs.
  • Plans include further store growth, a higher franchise share of new openings, and broader use of AI tools.

Management priorities

  • Expand the restaurant base, including in lower-tier markets, while increasing the franchise mix.
  • Scale Gemini and side-by-side formats, K Pro, and K Coffee Cafe.
  • Continue product launches and deploy AI tools in restaurant operations and ordering.

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Earnings History

Estimate Beat Miss Match
YUMC EPS earnings history estimate and actual scatter chart 10 reported fiscal quarters and 4 future estimate-only quarters. Q4 '23 estimate $0.16 Q4 '23 actual $0.25, beat Q1 '24 estimate $0.65 Q1 '24 actual $0.71, beat Q2 '24 estimate $0.47 Q2 '24 actual $0.55, beat Q3 '24 estimate $0.68 Q3 '24 actual $0.77, beat Q2 '25 estimate $0.57 Q2 '25 actual $0.58, beat Q3 '25 estimate $0.74 Q3 '25 actual $0.76, beat Q4 '25 estimate $0.35 Q4 '25 actual $0.40, beat Q1 '26 estimate $0.85 Q1 '26 actual $0.87, beat Q2 '26 estimate $0.67 Q2 '26 actual $0.70, beat Q3 '26 estimate $0.89 Q3 '26 actual $0.91, beat Q4 '26 estimate $0.45 Q1 '27 estimate $0.99 Q2 '27 estimate $0.80 Q3 '27 estimate $0.97
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Analyst Consensus ?

ConsensusBuy19 ratings
Bullish1473.7%
Neutral526.3%
Bearish00.0%

Analyst 52W Price Targets

$49.41Current
$37.4Low
$62.5Average
$123High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 4, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
BWG Global Positive MixedUpgradeJan 16, 2026
JP Morgan Overweight NeutralUpgradeNov 5, 2024
Macquarie Outperform UnderperformUpgradeAug 6, 2024
HSBC Buy BuyMaintainMar 6, 2024
OTR Global Positive MixedUpgradeApr 12, 2023
Show 14 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $49.4. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Goldman SachsAnalyst unavailable$59$46.47 +19.4%Jul 30, 2026
JefferiesAnne Ling$63.64$53.14 +28.8%Feb 5, 2026
Goldman SachsMichelle Cheng$58.5$53.14 +18.4%Feb 4, 2026
CLSAEthan Wang$55$47.55 +11.3%Nov 25, 2025
Bank of America SecuritiesChen Luo$49$44.19 -0.8%Oct 16, 2024
See 6 more

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Company context

Snapshot as of publication

Yum China Holdings, Inc. is a prominent player in China's restaurant sector, engaging in the ownership, operation, and franchising of various dining establishments. Its core operations are structured around two primary segments: KFC and Pizza Hut. The company manages a diverse portfolio of restaurant brands, including popular names like KFC (known for chicken), Pizza Hut (pizza), Little Sheep (hot pot), Huang Ji Huang (simmer pot), Lavazza (Italian coffee), COFFii & JOY (specialty coffee), Taco Bell (Mexican-style cuisine), and East Dawning (Chinese food), operating and franchising these…

Historical context

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Consumer Cyclical peers this season

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Latest beats and misses

Who reports next

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. Polygon adjusted daily market bars · 2026-11-04T14:10:51.571864+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-04T14:10:51.569114+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-11-04. For educational purposes only; not investment advice.