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Yum! Brands, Inc.

YUM

Filing: SEC 10-Q
Period: Quarter ended 2026-03-31
Basis: Editorial filing; Read original SEC 10-Q ↗

Sankey diagram of Yum! Brands, Inc.. A complete text table follows the diagram.

$17 Billion Was Spent at Yum Restaurants, but Only $2.1 Billion Hit Yum's Books

A 97%-franchised network lets KFC, Taco Bell and Pizza Hut scale consumer sales while local operators fund almost all of the restaurants

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Source & review

Read original SEC 10-Q ↗

SEC accession: 0001041061-26-000119
Filed: Date not recorded
Reviewed: 2026-07-26
Status: Individual filing review complete

How to read these figures

The visual reconciles directly reported system sales to revenue recognized by Yum. The $14.944B of franchisee restaurant sales outside Yum revenue is the arithmetic difference between reported franchise sales and the reported franchise/property and advertising amounts; it is not franchisee profit and remains subject to restaurant-level costs.

Labels and narrative explain the filing. A category marked “arithmetic bridge” or “residual” is calculated from reported totals, rather than a separately reported line.

Franchisees operated 62,053 of Yum's 63,685 restaurants, allowing the network to grow 5% with only $75M of quarterly corporate capital spending.
KFC alone generated $9.33B of system sales across 34,332 restaurants, more than half of the global Yum system.
Advertising is scale rather than profit: Yum recognized $418M of contributions and incurred $419M of related advertising and service expense.
Taco Bell's 8% same-store sales growth drove $4.39B of system sales and $281M of division operating profit, both up strongly.
Pizza Hut system sales were flat excluding currency and division operating profit fell 16%; Yum expects to complete its strategic-options review in 2026.
Habit is the exception to the asset-light model: Yum owns 305 of its 388 restaurants, and the division reported a $7M operating loss.

View accessible tables

Financial categories · Quarter ended 2026-03-31 · Millions of USD
Category	Stage	Value	Notes
Sales at franchised restaurants	1	$16.2B	95% of worldwide system sales
Sales at company restaurants	1	$785M	The small owner-operated slice
Franchisee sales outside Yum revenue	2	$14.9B	Restaurant sales recorded by local operators
Franchise & property revenue	2	$856M	Royalties, upfront fees, rent and related income
Franchise advertising contributions	2	$418M	Mostly passed through to brand marketing
Company restaurant revenue	2	$785M	Sales Yum records dollar for dollar
Revenue recognized by Yum	3	$2.1B	12% of worldwide system sales
Operating profit	4	$644M	31.3% margin on reported revenue
Restaurants, advertising & overhead	4	$1.4B	Including advertising pass-through costs

Financial flows · Millions of USD
From	To	Value
Sales at franchised restaurants	Franchisee sales outside Yum revenue	$14.9B
Sales at franchised restaurants	Franchise & property revenue	$856M
Sales at franchised restaurants	Franchise advertising contributions	$418M
Sales at company restaurants	Company restaurant revenue	$785M
Franchise & property revenue	Revenue recognized by Yum	$856M
Franchise advertising contributions	Revenue recognized by Yum	$418M
Company restaurant revenue	Revenue recognized by Yum	$785M
Revenue recognized by Yum	Operating profit	$644M
Revenue recognized by Yum	Restaurants, advertising & overhead	$1.4B