Analyst Consensus ?
ConsensusBuy19 ratings
Bullish1473.7%
Neutral526.3%
Bearish00.0%
Yum China Holdings, Inc. · YUMC · FY2026 Q1 · Calendar Q2 2026
Yum China pairs restaurant growth with new formats, while delivery costs remain a watchpoint
Yum China’s Q1 performance supports a growth case built on store expansion, product activity and developing concepts. Whether that growth converts into sustained profit improvement will depend in part on managing delivery-related costs and executing new formats efficiently.
Reported Before market openNYSEConsumer Cyclical
$16.39B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.87
Consensus $0.85
EPS surprise
+1.9%
Reported versus consensus
Reported revenue
$3.27B
Consensus $3.21B
Revenue surprise
+1.8%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+2.9%
Event window
SPY move
-0.0%
Same window
Abnormal move
+2.9%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
-11.6%
Up to 20 sessions
YUMCSPY benchmark
Ask FN2 about YUMC FY2026 Q1
Transcript, numbers and history already loaded
Why did YUMC rise 2.9% after beating EPS estimates in FY2026 Q1?What changed in YUMC's guidance and outlook in FY2026 Q1?Give me the bull and bear case for YUMC after FY2026 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The quarter’s analysis highlights revenue and operating-profit growth alongside faster expansion plans for KCOFFEE and KPRO. Management also described new pickup and in-car ordering initiatives. Full-year guidance was maintained, while the higher delivery mix and rider costs remain important offsets to monitor.
Guidance delta
Maintained full-year guidance. Management indicated operating margin near prior-year levels in Q2 and targeted incremental expansion in H2; the supplied analysis does not indicate a change to the annual outlook.
Key takeaways
- Growth was supported by restaurant expansion and activity across KFC and Pizza Hut, with performance differing by brand and metric.
- KCOFFEE and KPRO expansion increases the importance of proving that newer concepts can scale productively.
- Management described new pickup and in-car ordering capabilities as additions to its customer and delivery approach.
- The maintained outlook is constructive, but delivery mix and related rider and packaging costs complicate the margin picture.
Management priorities
- Expand stores and newer concepts, including KCOFFEE, KPRO, WOW and Gemini formats.
- Manage delivery economics as platform subsidies normalize and rider costs affect margins.
- Use menu launches, pickup options and in-car ordering to support customer engagement and sales.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$47.85Current
$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.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| BWG Global | Positive | Mixed | Upgrade | Jan 16, 2026 |
| JP Morgan | Overweight | Neutral | Upgrade | Nov 5, 2024 |
| Macquarie | Outperform | Underperform | Upgrade | Aug 6, 2024 |
| HSBC | Buy | Buy | Maintain | Mar 6, 2024 |
| OTR Global | Positive | Mixed | Upgrade | Apr 12, 2023 |
| Jefferies | Hold | Buy | Downgrade | Feb 1, 2023 |
| Atlantic Equities | Overweight | Overweight | Maintain | Apr 6, 2021 |
| Credit Suisse | Outperform | Outperform | Maintain | Oct 29, 2020 |
| B of A Securities | Buy | Buy | Maintain | Apr 29, 2020 |
| DBS Bank | Buy | Buy | Maintain | Aug 6, 2019 |
| UBS | Buy | Buy | Maintain | May 1, 2019 |
| Bank of America | Buy | Neutral | Upgrade | Apr 30, 2019 |
| Oppenheimer | Perform | Outperform | Downgrade | Aug 17, 2018 |
| Morgan Stanley | Overweight | Overweight | Maintain | Mar 20, 2018 |
| Nomura | Buy | Buy | Maintain | Oct 9, 2017 |
| Goldman Sachs | Neutral | Buy | Downgrade | May 5, 2017 |
| Deutsche Bank | Buy | Buy | Maintain | Feb 24, 2017 |
| Bernstein | Perform | Market Perform | Maintain | Nov 4, 2016 |
| Evercore ISI Group | Hold | Hold | Maintain | Nov 1, 2016 |
Named analyst price targets
Upside is calculated against the persisted current price $47.85. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Goldman Sachs | Analyst unavailable | $59 | $46.47 | +23.3% | Jul 30, 2026 |
| Jefferies | Anne Ling | $63.64 | $53.14 | +33.0% | Feb 5, 2026 |
| Goldman Sachs | Michelle Cheng | $58.5 | $53.14 | +22.3% | Feb 4, 2026 |
| CLSA | Ethan Wang | $55 | $47.55 | +14.9% | Nov 25, 2025 |
| Bank of America Securities | Chen Luo | $49 | $44.19 | +2.4% | Oct 16, 2024 |
| Citigroup | Xiaopo Wei | $58.8 | $45.35 | +22.9% | Sep 30, 2024 |
| Macquarie | Linda Huang | $37.4 | $33.12 | -21.8% | Aug 6, 2024 |
| Morgan Stanley | Lilian Hou | $56 | $32.16 | +17.0% | Jun 24, 2024 |
| BOCOM International Holdings Company | Edward Lui | $55.8 | $46.32 | +16.6% | Nov 3, 2022 |
| RBC Capital | Christopher Carril | $123 | $62.63 | +157.1% | Apr 29, 2021 |
| HSBC | Lina Yan | $71.4 | $62.63 | +49.2% | Apr 29, 2021 |
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Start freeCompany context
Snapshot as of publicationYum 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
All YUMC earningsConsumer Cyclical peers this season
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|---|---|---|---|---|
| APTV Aptiv PLC | FY2026 Q3 · Calendar Q4 2026 | +6.8% | -6.5% | Aptiv holds guidance as non-automotive bookings broaden its growth mix |
| BALL Ball Corporation | FY2026 Q3 · Calendar Q4 2026 | — | -7.1% | Ball Q3 volume growth remains strong as new capacity adds execution risk |
| RACE Ferrari N.V. | FY2026 Q3 · Calendar Q4 2026 | — | +2.9% | Ferrari raises 2026 outlook as personalization and demand support Q3 |
| YUM Yum! Brands, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | -0.0% | Yum! Brands: Taco Bell recovery and KFC momentum meet transition costs |
Latest beats and misses
Who reports nextBeat on EPS
- FISVFY2026 Q3 · November 3, 2026+1.7% EPS+12.5% move
- YUMCFY2026 Q3 · November 3, 2026+2.8% EPS+1.6% move
- HSICFY2026 Q3 · November 3, 2026+0.7% EPS-4.8% move
- LDOSFY2026 Q3 · November 3, 2026+19.5% EPS-6.5% move
- KDPFY2026 Q3 · November 3, 2026+6.8% EPS-5.6% move
- APTVFY2026 Q3 · November 3, 2026+6.8% EPS-6.5% move
Get the YUMC recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-04T04:00:45.284592+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-04T04:00:45.282276+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.