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Just reported
Q3 2026 results
From YUM! Brands's results release of November 3, 2026; its quarterly report has since been filed.
Revenue
Actual
$2.05B
+3.8% y/y
-5.3% q/qGuided
—
No guide given
EPS, GAAP
Actual
$5.92
+320% y/y
+92% q/qGuided
—
No guide given
Operating income, GAAP
Actual
$2.32B
+248% y/y
+254% q/qGuided
—
No guide given
Set against the company's own guidance and the same quarter a year earlier, not analysts' estimates, which we do not hold. Adjusted figures are the company's own non-GAAP measures, as stated in the release.
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The themes YUM! Brands is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.
The theme it is part of
Highest-graded in Restaurants
Graded A or B and worth $2B or more: A first, then the largest.
CMGChipotle Mexican Grill, Inc.$46.3BA+
YUMCYum China Holdings, Inc.$16.5BA
TXRHTexas Roadhouse, Inc.$12.4BA
DPZDomino’s Pizza, Inc.$10.8BA+
CAKEThe Cheesecake Factory Incorporated$5.5BA
Grade rose recently in Consumer Discretionary
Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.
TMToyota Motor Corp.Aug 4, 2026BAGraded B, now A
RCLRoyal Caribbean Cruises Ltd.Oct 27, 2026FBGraded F, now B
AZOAutoZone, Inc.Oct 26, 2026CBGraded C, now B
SWSmurfit Westrock plcOct 28, 2026CBGraded C, now B
HSAIHesai GroupNov 10, 2026CBGraded C, now B
How it makes money
- Franchise and property revenue42%
- Sales at company-run restaurants36%
- Advertising and related services22%
Shares of revenue are estimates for year ended December 31, 2025, not figures from a filing.
Competes with
What it sells5
KFC
Fried and non-fried chicken, including chicken sandwiches, strips and chicken on the bone.
Taco Bell
Mexican-style food such as tacos, burritos, quesadillas, salads and nachos.
Pizza Hut
Ready-to-eat pizza sold for delivery, carryout and dining in.
Show 2 more
Habit Burger & Grill
Made-to-order chargrilled burgers and sandwiches.
Byte by Yum!
Software for restaurant ordering, payments, kitchen and delivery work, menus, inventory, staffing and team-member tasks, made available to restaurant operators.
Who buys it3
- Independent franchisees and licensees pay fees to use Yum! Brands' restaurant names and operating methods, including ongoing fees based mainly on their restaurant sales.
- Restaurant customers buy meals at franchised and company-run locations, including through dine-in, drive-through, carryout and delivery.
- Advertising cooperatives and franchise organizations contribute funds for brand advertising and related services.
What it stands on, and what could break it
What the business leans on
- 1The business depends on franchisees having the money and ability to open restaurants and run them to the brands' standards.
- 2Yum China is its largest master franchisee and pays a 3% continuing fee on system sales in mainland China (as of December 31, 2025, high); the relationship ties KFC and Taco Bell in that market to one major operator.
- 3Restaurants depend on steady supplies of chicken, beef, cheese, pork, packaging and equipment, and on third-party distributors to deliver many of those supplies.
- 4The company depends increasingly on digital ordering and delivery, including services run by outside delivery companies.
What could go wrong
- 1Food safety problems or concerns about food-borne illness can lead customers to avoid the brands, as illustrated by Taco Bell U.S.'s July 2026 removal of recalled lettuce and the resulting near-term sales impact.
- 2Because most restaurants are run by franchisees, poor franchisee performance, closures or difficulty funding new restaurants can reduce fee income and slow restaurant growth.
- 3Yum! Brands has substantial exposure to mainland China through Yum China, its largest master franchisee; changes in that market or problems with the franchise relationship could affect the business.
About YUM! Brands, Inc.
Yum! Brands owns the KFC, Taco Bell, Pizza Hut and Habit Burger & Grill brands and earns much of its income from independent operators who run restaurants under franchise agreements. At June 30, 2026, its system had 64,166 restaurants in 157 countries and territories, with 97% run by franchisees (June 30, 2026, high). It also earns money from restaurants run by its subsidiaries and from advertising services. In June 2026, it agreed to sell Pizza Hut in two transactions.
- Head office
- Louisville, Kentucky, United States
- Founded
- 1997
- Employees
- 49,000 (December 31, 2025, high)
- Financial year ends
- December 31
Built from YUM! Brands, Inc.’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.