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Yum! Brands, Inc.

Quick-Service RestaurantsFounded 1997
Reviewed by Swet Parvadiya
Company data updated: October 2026
Independent Editorial Analysis
11 historical events · Editorial analysis

Yum! Brands Company Profile: Revenue, Business Model & Strategy

Research depth: 11 milestones · 6 FAQs

After selling Pizza Hut in 2026, Yum is a KFC and Taco Bell company; KFC supplies international unit growth while Taco Bell's U.S. sales swing...

Yum! Brands (NYSE: YUM) owns KFC, Taco Bell, and Habit Burger & Grill. It sold Pizza Hut for $2.7 billion in 2026, reported $8.214 billion of fiscal 2025 revenue, and has been led by CEO Chris Turner since October 1, 2025.

How Yum! Brands makes money: Most Yum restaurants are owned and run by franchisees. Yum collects franchise and license fees (royalties tied to sales, plus upfront fees on new units), franchise contributions to advertising funds, rental income on…

Revenue & employeesCEO historyFoundersBusiness model
Annual Revenue (FY2025)$8.2B
Employees36,000
CEOChris Turner
Founded1997
IndustryFood
By Swet ParvadiyaLast reviewed:
Data sources: annual reports, SEC filings, methodology
Industry:Food

Yum! Brands, Inc. key figures

Yum! Brands, Inc. had revenue of $8.2B for fiscal year 2025, up 8.8% from FY2024. Net income was $1.6B, a net margin of 19.0%.

Source: Yum! Brands fourth-quarter 2025 earnings release · Last reviewed October 2026

Revenue growth, FY2016 to FY2025
+2.9% a year
Compound annual rate, $6.4B to $8.2B
Peak revenue year
FY2025
The latest annual year is the highest in this series
Revenue per employee
$228,167
FY2025 revenue divided by 36,000 employees; headcount may use another date
Current chief executive
Chris Turner
In the role since 2025 (1 year)
Documented transactions
3
Between 2020 and 2021
Founded
1997
29 years ago
Where was Yum! Brands founded?
Yum! Brands was founded in Louisville, Kentucky, United States in 1997.
When did Yum! Brands start?
Yum! Brands was founded in 1997.
Who founded Yum! Brands?
Yum! Brands was founded by Andrall E. Pearson and David C. Novak.
How old is Yum! Brands?
Yum! Brands is 29 years old as of 2026.
In-Depth Analysis
119 words · 1 min read

Yum! Brands owns KFC, Taco Bell, and Habit Burger & Grill. It sold Pizza Hut in 2026 for $2.7 billion and reported $8.214 billion of fiscal 2025 revenue.

Portfolio

KFC is the largest system and grows mainly outside the U.S. Taco Bell is concentrated in the U.S. Habit is a small, mostly company-run burger chain.

Leadership

Chris Turner became CEO on October 1, 2025, after serving as CFO. Ranjith Roy is CFO.

2026 events

Yum China bought Pizza Hut in mainland China (closed August 7, 2026) and LongRange Capital bought the rest of Pizza Hut for about $1.5 billion (closed in early September 2026). Taco Bell sales were disrupted by an industry-wide food safety issue from July 18, 2026.

Table of Contents

Yum! Brands, Inc. Key Facts

CompanyYum! Brands, Inc.
Annual revenue change+8.8% (FY2024–FY2025)
Financials$8.2B (FY2025, last reviewed October 2026)
Market Cap$42.0B
FY2025 net income$1.6B
Last reviewedBy Swet Parvadiya, Founder & Editor - October 2026
Founded1997
Founder(s)Andrall E. Pearson, David C. Novak
CEOChris Turner
HeadquartersLouisville, Kentucky, United States
IndustryFood
Employees36,000+
TickerYUM

Yum! Brands Company Profile: Revenue, Business Model & Strategy

"Yum! Brands spent almost three decades as the parent of KFC, Taco Bell, and Pizza Hut. In 2026 it sold Pizza Hut and became a company built around fried chicken and tacos."

Why Yum! Brands, Inc. Wins

Franchisee-funded growth; KFC's international development pace; Taco Bell's U.S. category position.

Yum! Brands, Inc. operates in a competitive market alongside Wingstop Inc.. Analysts frequently compare Yum! Brands, Inc. and Wingstop Inc. due to their overlapping products, target markets, and strategic positioning.

Yum! Brands (NYSE: YUM) owns KFC, Taco Bell, and Habit Burger & Grill. It sold Pizza Hut for $2.7 billion in 2026, reported $8.214 billion of fiscal 2025 revenue, and has been led by CEO Chris Turner since October 1, 2025.

Revenue

$8.2B

Founded

1997

Employees

36K+

Market Cap

$42.0B

Author: CorpDigest Research DeskCompany Research

Key Facts

  • Founded: Yum! Brands, Inc. was established in 1997 and is headquartered in Louisville, Kentucky, United States.
  • Revenue: Yum! Brands, Inc. had $8.2B in annual revenue (FY2025).
  • Valuation: Market capitalization of approximately $42.0B.
  • Scale: Yum! Brands, Inc. employs 36,000 people globally.
  • Business Model: Most Yum restaurants are owned and run by franchisees.
  • Competitive Edge: KFC's development system opens restaurants at a pace few chains match, with 660 gross openings across 55 markets in the.

How Yum! Brands Makes Money

Capital Allocation & Scaling Mechanics

Most Yum restaurants are owned and run by franchisees. Yum collects franchise and license fees (royalties tied to sales, plus upfront fees on new units), franchise contributions to advertising funds, rental income on some properties it subleases, and sales from a smaller set of company-operated restaurants, including most Habit locations. Because franchisees fund most store construction and employ most restaurant workers, Yum's own capital needs and headcount are small relative to system sales. Yum China, a separate listed company since the 2016 spin-off, operates KFC in mainland China under a license and pays Yum a royalty on sales. With Pizza Hut sold in 2026, the reporting portfolio now centers on the KFC and Taco Bell divisions plus Habit.

Explore Yum! Brands, Inc. In Depth

📅Yum! Brands, Inc. History & Milestones💼How Yum! Brands, Inc. Makes Money📊Yum! Brands, Inc. Revenue & Financials⚔️Yum! Brands, Inc. Competitive Strategy & SWOT👤Yum! Brands, Inc. Founders & Origin Story🏆Yum! Brands, Inc. CEO History & Leadership🤝Yum! Brands, Inc. Acquisitions & Deals

What Is Yum! Brands, Inc.'s Growth Strategy?

Under Chris Turner, Yum is concentrating on KFC unit growth in emerging and developed international markets, Taco Bell growth in the U.S. and abroad, and its Byte by Yum digital platform for ordering, kitchen, and delivery management. The 2026 portfolio review ended with the Pizza Hut sale.

How Much Revenue Does Yum! Brands Generate?

Fiscal 2025 total revenues were $8.214 billion, up 9%, with GAAP net income of $1.559 billion and GAAP EPS of $5.55 (EPS excluding Special Items of $6.05, up 10%). Fourth-quarter 2025 revenue was $2.514 billion. In the second quarter of 2026 revenue rose about 12% to $2.169 billion, GAAP EPS was $3.08 and EPS excluding Special Items was $1.62. Pizza Hut sale proceeds of about $2.7 billion arrived in the third quarter of 2026, subject to purchase price adjustments.

Financial MetricEstimated Value (2026)
Market Capitalization$42.0B
Employee Count36,000 +
Latest Annual Revenue$8.2B (FY2025)

Historical Revenue Chart

Yum! Brands, Inc. Annual Revenue History

All figures in USD.

Fiscal YearRevenue FigureYoY Change
FY2016$6.4BN/A
FY2017$5.9B-7.5%
FY2018$5.7B-3.2%
FY2019$5.6B-1.6%
FY2020$5.7B+1.0%
FY2021$6.6B+16.5%
FY2022$6.8B+3.9%
FY2023$7.1B+3.4%
FY2024$7.5B+6.7%
FY2025$8.2B+8.8%

The source for each year is listed on the Yum! Brands, Inc. financials page.

Core Strength

KFC unit growth.

Key Weakness

Reliance on Taco Bell U.S.

Deep Dive into Yum! Brands, Inc. SWOT Analysis

Who Are Yum! Brands, Inc.'s Main Competitors?

Yum competes with McDonald's, Restaurant Brands International, Chick-fil-A, Wingstop, and Chipotle for quick-service spending. Selling Pizza Hut removed its direct contest with Domino's and Papa John's and narrowed the company to chicken, Mexican-style food, and burgers. KFC opens restaurants at a pace few chains match, with 660 gross openings across 55 markets in the second quarter of 2026, and Taco Bell holds a leading position in US Mexican-style quick service. Because franchisees pay for the restaurants, Yum's capital spending stays low and growth arrives as royalty income. Fiscal 2025 revenues were $8.214 billion, up 9%, with GAAP net income of $1.559 billion. Taco Bell was hit by an industry-wide food safety issue from July 18, 2026, and management guided its third-quarter restaurant margins down to 19% to 21%.

Top CompetitorsHead-to-Head Analysis

What Is Yum! Brands, Inc.'s Full Historical Timeline?

Historical Timeline & Strategic Pivots

Key Milestones

1997 - PepsiCo restaurant spin-off

PepsiCo separated KFC, Taco Bell, and Pizza Hut into Tricon Global Restaurants.

2002 -

Yum bought Yorkshire Global Restaurants, owner of Long John Silver's and A&W, in 2002.

2016 - Yum China spin-off

The mainland China business became Yum China Holdings, a separate public company.

2026 - Pizza Hut sale completed

Sales of Pizza Hut to Yum China (August 7) and LongRange Capital (early September) closed for $2.7 billion in total.

Risks & Weaknesses

Analytical Assessment

Primary Risk Factor

A slow Taco Bell recovery after the July 2026 food safety issue; franchisee margin pressure; value competition.

Risk assessment based on public filings, SWOT analysis, and verified industry data. Not financial advice.

How Did Yum! Brands Start and Grow?

Established

1997

Fiscal Revenue (FY2025)

$8.2B

Workforce

36K+

HQ Location

Louisville, Kentucky, United States

Key Turning Point

: The Strategic Shift That Created a Behemoth

Yum separated its mainland China business into Yum China Holdings, an independent NYSE-listed company that licenses Yum brands.

Explore Yum! Brands In Depth

Detailed research across every dimension of Yum! Brands — history, financials, leadership, and strategy.

Company History

Yum! Brands is a Louisville-based restaurant franchisor that owns KFC, Taco Bell, and Habit Burger & Grill. After selling Pizza Hut in 2026, its results depend mainly on KFC's international unit growth and Taco Bell's…

Full Yum! Brands history →

Revenue & Financials

Yum! Brands had $8.2B in revenue for fiscal year 2025. Data covers 10 fiscal years. Market capitalization stands at approximately $42B.

Yum! Brands financials →

Founders

Yum! Brands was founded by Andrall E. Pearson, David C. Novak in 1997. Explore each founder's background, motivations, and their role in building the company.

Yum! Brands founders →

CEO & Leadership

Yum! Brands is currently led by Chris Turner. Explore the full CEO history — leadership transitions, tenures, and the strategic decisions of each chief executive.

Yum! Brands CEO history →

Business Model

Most Yum restaurants are owned and run by franchisees. Yum collects franchise and license fees (royalties tied to sales, plus upfront fees on new units), franchise contributions to advertising funds, rental income on…

How Yum! Brands makes money →

Acquisitions

Yum! Brands has completed 3 documented acquisitions. Explore the full acquisition history and strategic rationale behind each deal.

Yum! Brands acquisitions →

Competitive Strategy

Under Chris Turner, Yum is concentrating on KFC unit growth in emerging and developed international markets, Taco Bell growth in the U.S.

Yum! Brands strategy →

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CorpDigest Research Desk

 Research Profile

Our analysts compile business strategy profiles from public financial filings, press releases, and analyst reports. Each profile is reviewed for accuracy before publication by our editorial desk and updated on a rolling basis.

About the Author →Our Methodology →

Frequently Asked Questions About Yum! Brands

Who bought Pizza Hut from Yum?

Yum China bought Pizza Hut in mainland China (closed August 7, 2026) and LongRange Capital bought Pizza Hut everywhere else for about $1.5 billion (closed in early September 2026). The two deals totaled $2.7 billion before adjustments.

Who is the CEO of Yum! Brands?

Chris Turner, previously Yum's CFO, has been CEO since October 1, 2025, succeeding David Gibbs.

How much revenue did Yum! Brands make in 2025?

Yum reported total revenues of $8.214 billion and GAAP net income of $1.559 billion for fiscal 2025.

Did Pepsi own Taco Bell and KFC?

Yes, PepsiCo originally bought and owned KFC, Taco Bell, and Pizza Hut for decades. In 1997, PepsiCo completely spun off all three restaurant chains into a massive new independent company initially called Tricon Global Restaurants (now Yum! Brands).

Who owns Yum! Brands?

Yum! Brands is a completely independent, publicly traded corporation (NYSE: YUM). It is the corporate parent that owns and entirely manages the KFC, Taco Bell, and Pizza Hut brands globally.

Analysis: How Yum! Brands, Inc. Makes Money

Deep dive into the Yum! Brands, Inc. business model, revenue streams, and strategic moats in 2026.

Competitor Benchmarking

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    Financial data on this page is sourced from SEC EDGAR filings, official earnings releases, and verified press statements. Revenue figures are reviewed and updated periodically. Read our full data methodology ->

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    Editorial Methodology

    Company Research

    We use company filings, annual reports, company statements and press reports, with primary sources preferred where available. Each financial row shows its recorded source. Full-year figures are separated from annualized run-rates, partial periods and forecasts; unaudited figures carry a label. Source detail varies by company, so check the linked material when the reporting basis matters.

    1. Primary Sources

    Public companies may provide filings and annual reports. Private-company figures may come from statements or press coverage. A missing figure stays missing, and a source link should identify where its number came from.

    2. Expert Curation

    We organize company records and review claims for strategic context, source quality and clarity. Pages show a review date where one is recorded.

    3. Multi-Pass Audit

    Technical checks flag inconsistent figures and missing links. Editorial review of the underlying source remains necessary for claims those checks cannot verify.

    Swet Parvadiya
    SEC filings & public records methodology
    Sourced from public financial records

    Explore Related Pages for Yum! Brands, Inc.

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    Sources & References

    The data and narrative synthesized in this intelligence report were verified against primary sources:

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