회사 개요
Yum China Holdings, Inc. operates as a leading franchisor and operator of quick-service restaurant brands within the People's Republic of China, managing portfolios that include KFC, Pizza Hut, Taco Bell, Lavazza, Little Sheep, and Huang Ji Huang concepts. The company is classified within the Consumer Cyclical sector and specifically the Restaurants industry, positioning it as a beneficiary of discretionary spending trends in the Chinese market. With a market capitalization of $17.50B and an annual revenue (TTM) of $11.80B, the firm demonstrates significant scale supported by a workforce of 130,000 employees. These valuation and revenue figures indicate that Yum China is a substantial player in the regional food service landscape, reflecting deep market penetration and a dominant competitive position among international fast-food chains in China.
재무 건전성
The company generated $11.80B in revenue (TTM) and reported $929.00M in net income (TTM), while maintaining an EBITDA of $1.78B. The substantial gap between total revenue and net income reveals a cost structure where operating expenses, including franchise fees, rent, and labor, consume the majority of top-line growth before reaching the bottom line. Free cash flow stands at $609.12M, which provides the organization with financial flexibility to fund expansion initiatives, service debt obligations, or return capital to shareholders without relying on external financing. Profitability analysis shows a gross margin of 20.6%, an operating margin of 7.2%, and a profit margin of 7.9%, indicating that the company retains approximately 8% of sales as profit after all costs are accounted for. On the balance sheet, cash holdings of $1.41B are offset by debt totaling $2.35B, resulting in a debt-to-equity ratio of 38.50, which suggests a moderate leverage profile typical for capital-intensive restaurant operations. The current ratio of 1.05 indicates that the company holds assets equal to 1.05 times its current liabilities, signaling tight but manageable short-term liquidity conditions. Management effectiveness is highlighted by a Return on Equity of 16.0% and a Return on Assets of 7.6%, demonstrating efficient utilization of shareholder capital and overall assets to generate earnings.
밸류에이션 평가
Valuation metrics show a P/E Ratio (TTM) of 19.85 compared to a Forward P/E of 15.31, implying that the market expects earnings growth in the future that would lower the multiple from its current trailing basis. The price-to-book ratio of 3.28 suggests the stock is trading at a significant premium relative to its net asset value, reflecting the intangible value of the brand portfolio and franchise network. Alternative valuation measures include a price-to-sales ratio of 1.48 and an EV/EBITDA of 10.85, which provide context on the company's valuation relative to its sales volume and earnings before interest, taxes, depreciation, and amortization. The stock has traded within a 52-week range between a high of $58.39 and a low of $41.00; without a specific current price provided in the facts, the valuation range indicates the historical volatility boundaries within which the market has priced the asset. With a Beta of 0.16, the stock exhibits very low price volatility relative to the broader market, meaning it is less sensitive to general market swings and offers a more stable return profile during periods of market turbulence.
Growth & Income
Growth metrics display a Revenue Growth (YoY) of 8.8% and an Earnings Growth (YoY) of 34.3%, indicating that earnings are expanding at a rate significantly faster than revenue, which often points to improving operational leverage or margin expansion. The company pays a dividend with a Dividend Yield of 2.3% and a Payout Ratio of 38.2%, suggesting that the dividend coverage is robust and the payout ratio is sustainable given the strong earnings growth trajectory. The relatively low payout ratio allows the firm to retain a substantial portion of earnings for reinvestment in the business rather than distributing all available cash to shareholders. Overall, the growth and income profile is characterized by double-digit earnings acceleration and a steady, sustainable dividend yield that complements the company's expansion strategy in the Chinese market.