Company Valuation: Yum China Holdings, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 21,338 22,835 17,281 18,212 16,864 17,100 - -
Change - 7.02% -24.32% 5.39% -7.4% 1.4% - -
Enterprise Value (EV) 1 17,382 19,725 14,893 16,544 15,480 15,968 15,681 15,739
Change - 13.48% -24.49% 11.09% -6.43% 3.15% -1.8% 0.37%
P/E ratio 21.9x 52.5x 21.5x 20.7x 19x 17.1x 15.3x 13.8x
PBR 3.02x 3.53x 2.7x 3.28x 3.27x 3.37x 3.15x 2.93x
PEG - -1x 0.2x 1.1x 2.46x 1.1x 1.3x 1.3x
Capitalization / Revenue 2.17x 2.39x 1.57x 1.61x 1.43x 1.36x 1.29x 1.21x
EV / Revenue 1.76x 2.06x 1.36x 1.46x 1.31x 1.27x 1.18x 1.12x
EV / EBITDA 13.1x 15.3x 9.24x 9.81x 8.7x 8.18x 7.49x 7.1x
EV / EBIT 12.5x 31.4x 13.5x 14.2x 12x 11.1x 10.1x 9.4x
EV / FCF 39.3x 26.9x 19.5x 23.2x 18.4x 14.4x 14.4x 13.3x
FCF Yield 2.54% 3.72% 5.12% 4.32% 5.43% 6.93% 6.94% 7.54%
Dividend per Share 2 0.48 0.48 0.52 0.64 - 1.119 1.306 1.466
Rate of return 0.96% 0.88% 1.23% 1.33% - 2.25% 2.63% 2.95%
EPS 2 2.28 1.04 1.97 2.33 2.51 2.907 3.258 3.614
Distribution rate 21.1% 46.2% 26.4% 27.5% - 38.5% 40.1% 40.6%
Net sales 1 9,853 9,569 10,978 11,303 11,797 12,565 13,288 14,076
EBITDA 1 1,330 1,286 1,611 1,687 1,780 1,952 2,095 2,216
EBIT 1 1,386 629 1,106 1,162 1,290 1,433 1,554 1,675
Net income 1 990 442 827 911 929 1,016 1,108 1,198
Net Debt 1 -3,956 -3,110 -2,388 -1,668 -1,384 -1,132 -1,419 -1,360
Reference price 2 49.84 54.65 42.43 48.17 47.74 49.76 49.76 49.76
Nbr of stocks (in thousands) 428,127 417,839 407,291 378,084 353,257 343,646 - -
Announcement Date 08/02/22 07/02/23 06/02/24 06/02/25 04/02/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.12x1.27x8.18x2.25% 17.1B
23.25x8.94x16.21x2.45% 217B
24.42x6.17x18.04x1.89% 44.67B
30.18x3.4x19.07x-.--% 44.4B
19.48x3.95x12.23x3.38% 26.47B
18.43x3.22x15.1x2.17% 12.31B
29.87x2.5x - 0.79% 6.88B
39.04x7.47x21.67x0.71% 4.92B
16.62x1.68x7.05x4.83% 4.28B
70.43x2.3x15.79x-.--% 3.97B
Average 28.88x 4.09x 14.82x 1.85% 38.23B
Weighted average by Cap. 24.24x 6.81x 16.05x 2.1%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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