Yum! Brands Inc
- Industrie
- Restaurants
- Bourse
- États-Unis
- Pays / Région
- USA
- Date d'introduction en bourse
- 17 septembre 1997
- Effectif
- 49 000
- Site web
- www.yum.com
Fourchette de valorisation composite · prudent $112–$130 / raisonnable $140–$160 / optimiste $170–$195. À $147.8, Dans la fourchette de valeur intrinsèque raisonnable.
À la publication $154.01 (27 mai 2026)
Données EODHD, présentées dans la devise de reporting ; à titre indicatif uniquement, ne constitue pas un conseil en investissement.
Yum! Brands, Inc., together with its subsidiaries, develops, operates, and franchises traditional and non-traditional quick service restaurants in the United States, China, and internationally. The company operates in four segments: KFC Division, Taco Bell Division, Pizza Hut Division, and Habit Burger & Grill Division. It also operates restaurants under the KFC, Pizza Hut, Taco Bell, and Habit Burger & Grill brands, which specialize in chicken, Mexican-style food and pizza categories, made-to-order chargrilled burgers, sandwiches, and other products. The company was formerly known as TRICON Global Restaurants, Inc. and changed its name to Yum! Brands, Inc. in May 2002. Yum! Brands, Inc. was incorporated in 1997 and is headquartered in Louisville, Kentucky.
Historique
Yum! Brands was incorporated in 1997 and completed its IPO on September 17, 1997. The company was formerly known as TRICON Global Restaurants, Inc. and changed its name to Yum! Brands, Inc. in May 2002. It is headquartered in Louisville, Kentucky, and operates through four segments: the KFC, Taco Bell, Pizza Hut, and Habit Burger & Grill divisions. The store base expanded from 53,424 restaurants at the end of 2021 to 63,285 by the end of 2025, spread across 155 countries and territories, with 97% of stores operated by independent franchisees or licensees by the end of 2025. The company has increasingly invested in digital and technology platforms, with system digital sales reaching close to 40 billion (about 60% of system sales) in 2025. A CEO transition was completed when Chris Turner became CEO effective October 2025, having previously served as CFO from 2019 and as Chief Franchise Officer from 2024; David Gibbs stepped down as CEO in September 2025 and served as an executive advisor to assist the transition through the end of 2026. The company also moved to reacquire some restaurant assets, buying certain KFC restaurants in the United Kingdom and Ireland in 2024 and acquiring 128 Taco Bell restaurants in the U.S. Southeast from a franchisee for approximately 670 million in 2025. In November 2025, the company initiated a strategic options review of Pizza Hut.
Position dans le secteur
Yum! Brands is a global quick-service restaurant platform built primarily on franchising, brands, and system capabilities rather than company-owned restaurant operation, with 97% of its stores franchised by the end of 2025. Store-level franchise contracts typically require franchisees to pay ongoing fees of about 4% to 6% of restaurant sales, plus advertising contributions. By scale it is a global leader: it had 63,285 restaurants at the end of 2025, compared with 45,356 for McDonald's (about 95% franchised), more than 33,000 for Restaurant Brands International (over 95% franchised), and Domino's, whose 2025 global retail sales exceeded 20.1 billion with about 99% of stores run by independent franchisees. Competition spans traditional QSR leaders and cross-category rivals including restaurants, convenience stores, supermarkets, coffee shops, delis, and delivery platforms; Pizza Hut in particular faces Domino's strong digital delivery model as well as independent pizzerias and supermarket prepared foods. Its brand portfolio quality is uneven: 2025 segment operating profit was 1.503 billion for KFC and 1.129 billion for Taco Bell, while Pizza Hut was 340 million and Habit remained loss-making, making KFC and Taco Bell the primary profit contributors. Differentiation comes from a four-brand portfolio combined with a global franchise network and multi-region diversification, supported by scale in sourcing through RSCS and by digital platforms such as Byte by Yum! that aim to give franchisees better unit economics. The company's franchise model sources of competitive advantage include trademark value (the company states its KFC, Taco Bell, Pizza Hut, and Habit trademarks are of significant value and material importance), low switching costs for consumers, and limited reliance on patents, which the company itself states are not material to its business.
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