Live News • Jun 18
Yum China Stock in Focus as $1.2 Billion Pizza Hut Deal Targets Major Growth Yum China will acquire Pizza Hut’s Mainland China operations from Yum! Brands for approximately US$1.2b in cash as part of a broader US$2.7b sale of the global Pizza Hut business.
The deal is expected to close in the third quarter of 2026 and will remove royalty payments from Yum China to Yum! Brands on Pizza Hut’s Mainland China operations.
Yum China plans to grow Pizza Hut’s Mainland China store count to more than 6,000 by 2028 and aims to double operating profit from the business by 2029, with EPS accretion anticipated from 2027.
Owning the Pizza Hut brand outright in Mainland China gives Yum China more control over economics, branding and expansion decisions. This could materially change how the Pizza Hut segment contributes to group results over time.
Investors may want to focus on how Yum China manages integration and capital spending for new stores, as well as any execution risks tied to its profit and expansion targets for Pizza Hut in China. Announcement • Jun 17
Yum China Holdings, Inc. (NYSE:YUMC) entered into definitive agreement to acquire Shanghai Pizza Hut Co., Ltd. from Yum! Brands, Inc. (NYSE:YUM) for $1.2 billion. Yum China Holdings, Inc. (NYSE:YUMC) entered into definitive agreement to acquire Shanghai Pizza Hut Co., Ltd. from Yum! Brands, Inc. (NYSE:YUM) for $1.2 billion on June 16, 2026. The consideration will be paid in cash and is subject to certain purchase price adjustments. In a separate agreement, LongRange Capital, L.P. entered into definitive agreement to acquire Pizza Hut, excluding Mainland China from Yum! Brands, Inc. for $1.6 billion. The transaction will be financed through a combination of cash and debt financing. Following the close of the transactions, Yum! Brands, Inc. will no longer report on the Pizza Hut division. The Purchase Agreement does not provide for any termination fees.
For the period ended December 31, 2025, Shanghai Pizza Hut Co., Ltd reported a revenue of $2.3 billion and operating profit of $183 million. The transaction consideration represents an implied last-twelve-month (LTM) P/E multiple of 19.5x.
The transaction is subject to customary closing conditions, including receipt of required regulatory approvals. The deal has been unanimously approved by the board of directors of Yum! Brands, Inc. and Yum China Holdings, Inc. The proceeds from sale will be used in accordance with the Yum! Brands, Inc's capital allocation strategy, including investing in the business and returning excess capital to shareholders. The transaction is expected to be immediately accretive to diluted EPS starting in 2026 following closing, and mid-single-digit accretive to diluted EPS in 2027 and 2028. The transaction is expected to close in the third quarter of 2026.
Lazard, Inc. acted as financial advisor to Yum China Holdings, Inc. Sidley Austin LLP acted as legal advisor to Yum China Holdings, Inc. Fangda Partners acted as legal advisor to Yum China Holdings, Inc. Barclays Capital Inc. acted as financial advisor to Yum! Brands, Inc. Goldman Sachs & Co. LLC acted as financial advisor to Yum! Brands, Inc. Weil, Gotshal & Manges LLP acted as legal advisor to Yum! Brands, Inc. Mayer Brown LLP acted as legal advisor to Yum! Brands, Inc. Live News • Jun 07
Yum China Eyes 600 KPRO Stores and US$512 Million Buyback by 2026 Yum China’s KPRO light-meal concept has surpassed 300 locations across China, centered in tier-1, tier-2 and select tier-3 cities in eastern and southern regions.
The company has lifted its KPRO expansion target from 400 to 600 stores by the end of 2026, indicating a larger planned footprint for this format.
Yum China has entered into share repurchase agreements totaling about US$512 million across the U.S. and Hong Kong markets for the second half of 2026, with purchases set to begin on July 1.
The combination of a higher KPRO rollout goal and a sizeable share repurchase plan suggests management’s confidence in this light-meal concept and in the company’s capital position.
Investors may want to watch how KPRO’s unit economics, store productivity and regional performance develop, as well as any impact the US$512 million buyback has on share count and capital allocation flexibility. Upcoming Dividend • May 20
Upcoming dividend of US$0.29 per share Eligible shareholders must have bought the stock before 27 May 2026. Payment date: 17 June 2026. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of American dividend payers (4.3%). In line with average of industry peers (2.3%). Buy Or Sell Opportunity • May 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to US$48.11. The fair value is estimated to be US$60.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 5.8% per annum. Earnings are also forecast to grow by 8.2% per annum over the same time period. Declared Dividend • May 01
First quarter dividend of US$0.29 announced Shareholders will receive a dividend of US$0.29. Ex-date: 27th May 2026 Payment date: 17th June 2026 Dividend yield will be 2.2%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 13% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 30
First quarter 2026 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2026 results: EPS: US$0.88 (up from US$0.78 in 1Q 2025). Revenue: US$3.27b (up 9.7% from 1Q 2025). Net income: US$309.0m (up 5.8% from 1Q 2025). Profit margin: 9.4% (in line with 1Q 2025). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Apr 30
Yum China Holdings, Inc. announces Quarterly dividend, payable on June 17, 2026 Yum China Holdings, Inc. announced Quarterly dividend of USD 0.2900 per share payable on June 17, 2026, ex-date on May 27, 2026 and record date on May 27, 2026. Announcement • Apr 16
Yum China Holdings, Inc. to Report Q1, 2026 Results on Apr 29, 2026 Yum China Holdings, Inc. announced that they will report Q1, 2026 results Pre-Market on Apr 29, 2026 Announcement • Apr 04
Yum China Holdings, Inc., Annual General Meeting, May 28, 2026 Yum China Holdings, Inc., Annual General Meeting, May 28, 2026, at 08:01 China Standard Time. Location: ritz-carlton hong kong, international commerce cen, tre, 1 austin road west,kowloon, Hong Kong Price Target Changed • Mar 09
Price target increased by 7.1% to US$62.43 Up from US$58.29, the current price target is an average from 22 analysts. New target price is 17% above last closing price of US$53.38. Stock is up 8.1% over the past year. The company is forecast to post earnings per share of US$2.91 for next year compared to US$2.52 last year. Recent Insider Transactions • Feb 26
Insider recently sold US$1.2m worth of stock On the 24th of February, Xueling Lu sold around 22k shares on-market at roughly US$55.83 per share. This transaction amounted to 70% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$5.7m. Insiders have been net sellers, collectively disposing of US$13m more than they bought in the last 12 months. Upcoming Dividend • Feb 25
Upcoming dividend of US$0.29 per share Eligible shareholders must have bought the stock before 04 March 2026. Payment date: 25 March 2026. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of American dividend payers (4.2%). In line with average of industry peers (2.1%). Recent Insider Transactions • Feb 17
CEO & Executive Director recently sold US$5.7m worth of stock On the 13th of February, Joey Wat sold around 104k shares on-market at roughly US$55.18 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Joey's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Feb 15
CEO & Executive Director notifies of intention to sell stock Joey Wat intends to sell 104k shares in the next 90 days after lodging an Intent To Sell Form on the 13th of February. If the sale is conducted around the recent share price of US$55.18, it would amount to US$5.7m. For the year to December 2019, Joey's total compensation was 10% salary and 90% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Joey's direct individual holding has increased from 655.60k shares to 810.25k. Company insiders have collectively sold US$6.8m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Feb 06
Fourth quarter dividend increased to US$0.29 Dividend of US$0.29 is 21% higher than last year. Ex-date: 4th March 2026 Payment date: 25th March 2026 Dividend yield will be 1.7%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has increased by an average of 14% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 05
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: US$2.52 (up from US$2.35 in FY 2024). Revenue: US$11.8b (up 4.4% from FY 2024). Net income: US$929.0m (up 2.0% from FY 2024). Profit margin: 7.9% (down from 8.1% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Feb 04
Yum China Holdings, Inc. Announces Quarterly Cash Dividend, Payable on March 25, 2026 Yum China Holdings, Inc. board of directors (the "Board") declared a 21% increase in the cash dividend, raising it to $0.29 per share on Yum China's common stock, payable on March 25, 2026, to shareholders of record as of the close of business on March 4, 2026. Announcement • Jan 15
Yum China Holdings, Inc. to Report Q4, 2025 Results on Feb 04, 2026 Yum China Holdings, Inc. announced that they will report Q4, 2025 results Pre-Market on Feb 04, 2026 Announcement • Jan 13
Yum China Holdings, Inc. Announces Robert B. Aiken Will Not Stand for Re-Election as Director, Effective At the 2026 Annual Meeting Yum China Holdings, Inc. announced that on January 6, 2026, Robert B. Aiken, a member of the board of directors, notified the Company of his intention not to stand for re-election at the Company's 2026 Annual Meeting of Stockholders, based on considerations regarding his future professional commitments. Aiken's current term will expire at the 2026 Annual Meeting, and he will continue to serve as a director and a member of the Food Safety and Sustainability Committee until the 2026 Annual Meeting. Upcoming Dividend • Nov 25
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 02 December 2025. Payment date: 23 December 2025. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of American dividend payers (4.5%). Higher than average of industry peers (1.8%). Announcement • Nov 05
Yum China Holdings, Inc. announces Quarterly dividend, payable on December 23, 2025 Yum China Holdings, Inc. announced Quarterly dividend of USD 0.2400 per share payable on December 23, 2025, ex-date on December 02, 2025 and record date on December 02, 2025. Reported Earnings • Nov 04
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: US$0.77 (down from US$0.77 in 3Q 2024). Revenue: US$3.21b (up 4.4% from 3Q 2024). Net income: US$282.0m (down 5.1% from 3Q 2024). Profit margin: 8.8% (in line with 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.3%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Oct 15
Yum China Holdings, Inc. to Report Q3, 2025 Results on Nov 04, 2025 Yum China Holdings, Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 04, 2025 Upcoming Dividend • Aug 26
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 02 September 2025. Payment date: 23 September 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of American dividend payers (4.4%). Higher than average of industry peers (1.7%). Declared Dividend • Aug 07
Second quarter dividend of US$0.24 announced Shareholders will receive a dividend of US$0.24. Ex-date: 2nd September 2025 Payment date: 23rd September 2025 Dividend yield will be 1.9%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 12% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 39% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 05
Second quarter 2025 earnings: EPS exceeds analyst expectations Second quarter 2025 results: EPS: US$0.58 (up from US$0.55 in 2Q 2024). Revenue: US$2.79b (up 4.0% from 2Q 2024). Net income: US$215.0m (up 1.4% from 2Q 2024). Profit margin: 7.7% (down from 7.9% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.5%. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jul 16
Yum China Holdings, Inc. to Report Q2, 2025 Results on Aug 05, 2025 Yum China Holdings, Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 05, 2025 Announcement • Jun 20
Yum China Holdings, Inc. Launches AI Assistant for Store Managers Yum China Holdings, Inc. announced the pilot launch of "Q-Smart", a new hands-free AI-enabled assistant for restaurant managers. Q-Smart helps frontline managers effectively and efficiently manage a wide range of day-to-day tasks, such as labor scheduling, inventory management, and food quality and safety inspection - providing intelligent support for decision-making across a broad spectrum of restaurant operations. Q-Smart allows managers to interact with the system hands-free using wearable devices such as wireless earphones and smart watches, enhancing operational efficiencies. This is different from traditional restaurant systems where employees often rely on touch screens or PCs to complete tasks, which occupy their hands. Using natural language, Q-Smart can interact directly with restaurant managers to help them better manage operational tasks throughout the day. For example, Q-Smart continuously monitors a restaurant's inventory and compares it with upcoming sales forecasting, reminding managers to make timely ordering and replenishment decisions that can help the store to optimize inventory use. Q-Smart can understand and respond to managers' voice commands, helping them to quickly and accurately conduct hands-free equipment inspections and inventory counts. At the same time, drawing from Yum China's extensive knowledge base, the system can provide real-time support and solutions for managers to effectively handle urgent operational issues. Having passed the initial development and testing phase, Q-Smart is now being piloted at select KFC stores. Yum China was also one of the earliest companies in China to launch an enterprise cloud platform. Its platform, Yum China Cloud, supports agile iterations of systems and products with a high server stability rate, helping ensure a seamless user experience online. Yum China began integrating AI-assisted store management and scheduling tools as early as 2019. In 2021, Yum China rolled out its comprehensive AI-powered "Super Brain" tool, leveraging operational data from Yum China's store network to aid store managers' decision-making. In 2022, the Company introduced handheld Pocket Managers, allowing managers to track operational metrics in real-time. Yum China began exploring applications for Generation AI (AIGC) in its systems in 2023; and by 2024, the Company began integrating AIGC into various business scenarios, including logistics and supply chain, customer service, and various back-office functions. Q-Smart was officially launched at Yum China's first-ever AI Day event held on June 20 in Shanghai. The day resulted with the announcement of winners of the Company's inaugural "All-Staff Hackathon", an initiative launched in March 2025 to encourage Yum China employees to develop technology-based solutions to address business problems and pain points, which drew participation from nearly 200 teams in roughly 30 markets across the country. At the AI Day opening ceremony, Yum China CEO Joey Wat announced the establishment of a 100 million (USD 13.9 million) Frontline Innovation Fund to provide a variety of new resources to further support frontline restaurant employees. The Fund will further bolster the Company's homegrown innovation in technology applications, including making the All-Staff Hackathon a regular annual event. Announcement • May 26
Yum China Holdings, Inc. Appoints Grace Xin Ge as Director Yum China Holdings, Inc. held its 2025 annual meeting of stockholders on May 23, 2025, announced appointment of Ms. Grace Xin Ge as director. Ms. Ge, age 48, is the founding partner of G-Bridge Partners, an investment and advisory firm that focuses on cross-border business building and venture scaling, operating in Europe and Asia, since September 2022. Ms. Ge served as an advisor of Du Xiaoman, from February 2022 to December 2022 and was a senior vice president and the chief financial officer of Du Xiaoman from May 2019 to January 2022. Prior to that, she served as a partner of Ares Management Private Equity Group from June 2014 to December 2018. From August 2005 to May 2014, Ms. Ge served as a managing director at the investment banking division at Goldman Sachs. She was also a sponsor principal of Goldman Sachs (Asia) L.L.C. from January 2012 to May 2014. She worked at PricewaterhouseCoopers in Beijing and San Francisco from July 1998 to June 2003. Ms. Ge is currently an independent director on the board of Keep Inc., and Goldstream Investment Limited. Ms. Ge was a Certified Public Accountant in the United States. Ms. Ge received her dual bachelor’s degrees in English literature and economics from Peking University and her master’s degree in business administration from Harvard Business School. Ms. Ge was a director until January 2025 of Hyperganic Pte. Ltd., and was a director until September 2024 of Hyperganic Technologies GmbH. Upcoming Dividend • May 21
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 28 May 2025. Payment date: 18 June 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (1.9%). Declared Dividend • May 02
First quarter dividend of US$0.24 announced Shareholders will receive a dividend of US$0.24. Ex-date: 28th May 2025 Payment date: 18th June 2025 Dividend yield will be 1.8%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 12% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 01
First quarter 2025 earnings: EPS in line with expectations, revenues disappoint First quarter 2025 results: EPS: US$0.78 (up from US$0.72 in 1Q 2024). Revenue: US$2.98b (flat on 1Q 2024). Net income: US$292.0m (up 1.7% from 1Q 2024). Profit margin: 9.8% (in line with 1Q 2024). Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • May 01
Yum China Holdings, Inc. announces Quarterly dividend, payable on June 18, 2025 Yum China Holdings, Inc. announced Quarterly dividend of USD 0.2400 per share payable on June 18, 2025, ex-date on May 28, 2025 and record date on May 28, 2025. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$44.01, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the Hospitality industry in the US. Total returns to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$42.66 per share. Announcement • Mar 31
Yum China Holdings, Inc., Annual General Meeting, May 23, 2025 Yum China Holdings, Inc., Annual General Meeting, May 23, 2025, at 08:00 China Standard Time. Location: mandarin oriental hong kong, 5 connaught road, central, hong kong, Hong Kong Announcement • Mar 10
Yum China Holdings, Inc. Appoints Adrian Ding as Chief Financial Officer On March 6, 2025, the Board of Directors of Yum China Holdings, Inc. appointed Adrian Ding, the Company's Acting Chief Financial Officer and Chief Investment Officer, to the position of Chief Financial Officer, effective March 6, 2025. Mr. Adrian Ding, age 38, joined the Company in March 2019 as Vice President of Corporate Finance. He served as the Acting Chief Financial Officer of the Company from October 2024 and Chief Investment Officer of the Company from February 2020 to March 2025. Additionally, Mr. Ding served as General Manager of the Company's Lavazza joint venture from March 2022 to December 2024. Prior to joining the Company, Mr. Ding worked for Alibaba Group Holding Limited from 2018 to early 2019, responsible for strategic investments in the technology and media sectors. Before that, Mr. Ding gained extensive experience in investment banking, having advised clients on a number of capital markets and M&A projects. Mr. Ding worked at UBS AG as a Director in Investment Banking. He also previously worked at Morgan Stanley and Citigroup Global Markets Asia Limited. Mr. Ding currently serves as a director of Fujian Sunner Development Co. Ltd. (Shenzhen Stock Exchange: 002299). Mr. Ding obtained a master's degree in business administration (MBA) from Columbia Business School, and a bachelor's degree in quantitative finance from Hong Kong University of Science and Technology. Recent Insider Transactions Derivative • Mar 06
CEO & Executive Director notifies of intention to sell stock Joey Wat intends to sell 37k shares in the next 90 days after lodging an Intent To Sell Form on the 5th of March. If the sale is conducted around the recent share price of US$49.71, it would amount to US$1.9m. For the year to December 2018, Joey's total compensation was 7% salary and 93% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2024, Joey's direct individual holding has increased from 543.31k shares to 655.60k. Company insiders have collectively sold US$1.5m more than they bought, via options and on-market transactions in the last 12 months. Buy Or Sell Opportunity • Mar 05
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 5.1% to US$50.43. The fair value is estimated to be US$40.81, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has grown by 5.0%. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings are also forecast to grow by 7.8% per annum over the same time period. Upcoming Dividend • Feb 27
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 06 March 2025. Payment date: 27 March 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of American dividend payers (4.5%). Lower than average of industry peers (1.8%). Buy Or Sell Opportunity • Feb 14
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 4.1% to US$49.16. The fair value is estimated to be US$40.44, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has grown by 5.0%. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings are also forecast to grow by 7.8% per annum over the same time period. Declared Dividend • Feb 09
Fourth quarter dividend increased to US$0.24 Dividend of US$0.24 is 50% higher than last year. Ex-date: 6th March 2025 Payment date: 27th March 2025 Dividend yield will be 1.5%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 6.9% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 06
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$2.35 (up from US$1.99 in FY 2023). Revenue: US$11.3b (up 3.0% from FY 2023). Net income: US$911.0m (up 10% from FY 2023). Profit margin: 8.1% (up from 7.5% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.1%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has remained flat. Announcement • Feb 06
Yum China Holdings, Inc. Declares Cash Dividend, Payable on March 27, 2025 Yum China Holdings, Inc. Declared Cash Dividend, Payable on March 27, 2025. For the period, the company reported 50% increase in the cash dividend, raising it to $0.24 per share on Yum China's common stock, payable to shareholders of record as of the close of business on March 6, 2025. Announcement • Jan 15
Yum China Holdings, Inc. to Report Q4, 2024 Results on Feb 06, 2025 Yum China Holdings, Inc. announced that they will report Q4, 2024 results After-Market on Feb 06, 2025 Announcement • Nov 29
Yum China Holdings, Inc. Officially Launches Digital Supplier Recruitment Platform at China International Supply Chain Expo Yum China Holdings, Inc. officially launched its digital supplier recruitment platform, extending an open invitation to high-quality enterprises from around the world to join its supply chain network at the 2nd China International Supply Chain Expo. The platform enables potential suppliers to conveniently submit their credentials to Yum China online, representing a significant shift from traditional supplier selection to a dynamic, interactive and data-driven process. By simplifying supplier engagement, the platform significantly reduces the manual workload and time needed for supplier evaluation while promoting transparency and fairness in selection. As part of Yum China's broader efforts to enhance efficiency under its "Spend Better, Buy Better" initiative, the platform enables the company to connect with more high-quality global suppliers, helping it deliver better products to Chinese consumers. Since the platform's pilot launch in April 2024, it has attracted applications in over 30 categories, already covering more than a third of the Company's total categories. At the launch ceremony, Yum China signed agreements of intent to collaborate with both domestic and international companies. These new partnerships will focus on sourcing and product innovation to better deliver exceptional culinary experiences for its customers. Over the years, Yum China has built a world-class supply chain management system, comprised of over 800 core suppliers across a variety of categories, including food ingredients, beverages, packaging materials, construction, warehousing, and transportation. Harnessing this vast network, Yum China deploys innovative procurement strategies to deliver safe, delicious, and diverse menu options tailored to the evolving preferences of Chinese consumers. Upcoming Dividend • Nov 20
Upcoming dividend of US$0.16 per share Eligible shareholders must have bought the stock before 26 November 2024. Payment date: 17 December 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of American dividend payers (4.3%). Lower than average of industry peers (1.9%). Recent Insider Transactions Derivative • Nov 07
Senior Advisor notifies of intention to sell stock Ka Wai Yeung intends to sell 78k shares in the next 90 days after lodging an Intent To Sell Form on the 5th of November. If the sale is conducted around the recent share price of US$47.94, it would amount to US$3.7m. Since March 2024, Ka Wai has owned 78.19k shares directly. Company insiders have collectively sold US$1.5m more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Nov 06
Price target increased by 11% to US$56.22 Up from US$50.78, the current price target is an average from 25 analysts. New target price is 13% above last closing price of US$49.83. Stock is up 14% over the past year. The company is forecast to post earnings per share of US$2.31 for next year compared to US$1.99 last year. Announcement • Nov 05
Yum China Holdings, Inc. Declares Cash Dividend on its Common Stock, Payable on December 17, 2024 The Board of Yum China Holdings, Inc. declared a cash dividend of $0.16 per share on Yum China's common stock, payable on December 17, 2024, to shareholders of record as of the close of business on November 26, 2024. Reported Earnings • Nov 04
Third quarter 2024 earnings released: EPS: US$0.77 (vs US$0.59 in 3Q 2023) Third quarter 2024 results: EPS: US$0.77 (up from US$0.59 in 3Q 2023). Revenue: US$3.07b (up 5.4% from 3Q 2023). Net income: US$297.0m (up 22% from 3Q 2023). Profit margin: 9.7% (up from 8.4% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 24
Price target increased by 7.2% to US$51.01 Up from US$47.61, the current price target is an average from 24 analysts. New target price is 17% above last closing price of US$43.51. Stock is down 16% over the past year. The company is forecast to post earnings per share of US$2.20 for next year compared to US$1.99 last year. Announcement • Oct 18
Yum China Holdings, Inc. to Report Q3, 2024 Results on Nov 04, 2024 Yum China Holdings, Inc. announced that they will report Q3, 2024 results Pre-Market on Nov 04, 2024 Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to US$43.86, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Hospitality industry in the US. Total loss to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$47.79 per share. Buy Or Sell Opportunity • Sep 25
Now 20% undervalued Over the last 90 days, the stock has risen 22% to US$38.19. The fair value is estimated to be US$47.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has declined by 2.9%. For the next 3 years, revenue is forecast to grow by 8.2% per annum. Earnings are also forecast to grow by 9.6% per annum over the same time period. Announcement • Sep 23
Yum China Holdings, Inc. Announces Change of Composition of Board Committees The board of directors of Yum China Holdings, Inc. announced that, effective September 20, 2024, Ms. Mikel A. Durham has been appointed as a member of the Audit Committee and a member of the Compensation Committee of the Board, and Ms. Min (Jenny) Zhang has ceased to be a member of the Audit Committee of the Board. Upcoming Dividend • Aug 22
Upcoming dividend of US$0.16 per share Eligible shareholders must have bought the stock before 27 August 2024. Payment date: 17 September 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of American dividend payers (4.4%). In line with average of industry peers (2.1%). Price Target Changed • Aug 09
Price target decreased by 7.4% to US$46.23 Down from US$49.92, the current price target is an average from 22 analysts. New target price is 37% above last closing price of US$33.66. Stock is down 39% over the past year. The company is forecast to post earnings per share of US$2.18 for next year compared to US$1.99 last year. Declared Dividend • Aug 08
Second quarter dividend of US$0.16 announced Shareholders will receive a dividend of US$0.16. Ex-date: 27th August 2024 Payment date: 17th September 2024 Dividend yield will be 1.8%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 6.9% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 40% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 06
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: US$0.55 (up from US$0.47 in 2Q 2023). Revenue: US$2.68b (flat on 2Q 2023). Net income: US$212.0m (up 7.6% from 2Q 2023). Profit margin: 7.9% (up from 7.4% in 2Q 2023). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 6.8%. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. 