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Yum Brands$YUM · filed: grew revenue 8.8% in FY2025 to $8.2BSound shipTrillion Score 495Fall Risk MediumNext year $7.9B–$9.4B sealedCheck ▾Close ▴
What Yum Brands filed
Grew revenue 8.8% in FY2025 to $8.2 billion, operating margin 31.3% against a 4.3% median for eating places, equity -89.4% of assets, and dividend per share up 8 years running. Every figure links to the filing it came from on Yum Brands’s card. Sound ship: one warning sign. Trillion Score 495, #27 of 45 in its field; Fall Risk Medium (how it is measured).
What the house said in advance
Revenue for the fiscal year after 2025-12-31 between $7.9B and $9.4B, an 80% range sealed on 26 Sept 2026 · receipt #bfc52b · graded in public by the revenue in Yum Brands’s next annual report.
Figures as filed with the SEC. Ranges, scores and boats are statistical descriptions of past filings, not ratings or recommendations. Reporting, not advice.
In plain words
First major QSR divestiture since demand normalized; watch for similar carve-outs if traffic remains **11% below** trend.
4.2x trailing EBITDA
below the
5.1x median
for QSR transactions over the past eighteen months
7% equity stake
and two board seats through 2027 under terms disclosed…
$8.3 billion
across consumer and retail strategies
Yum Brands announced Tuesday it will sell its Pizza Hut chain to private equity firm LongRange Capital for $2.7 billion cash, ending four decades of ownership and marking the first time a top-tier quick-service restaurant conglomerate has fully divested a legacy brand since demand patterns inverted in late 2023.
The transaction values Pizza Hut at roughly 4.2x trailing EBITDA, below the 5.1x median for QSR transactions over the past eighteen months, according to data compiled by PitchBook. Yum will retain a 7% equity stake and two board seats through 2027 under terms disclosed in the filing. LongRange Capital, a Dallas-based firm managing $8.3 billion across consumer and retail strategies, has committed $1.1 billion in equity with the balance financed through a Goldman Sachs-led debt package. The deal is expected to close in Q4 2025 pending regulatory clearance.
Pizza Hut's same-store sales declined 3.8% in Q1 2025, the fourth consecutive quarter of contraction, while unit count dropped to 16,847 locations globally from a peak of 18,431 in early 2022. The chain has struggled to defend share against fast-casual entrants like Blaze Pizza and digitally native competitors, while its aging footprint—average store age exceeds 19 years—requires an estimated $640 million in capital expenditure to modernize point-of-sale systems and kitchen automation. Yum's retained brands, Taco Bell and KFC, grew same-store sales 2.1% and 1.4% respectively over the same period, highlighting the divergence in operational momentum.
The divestiture signals a broader recalibration in QSR capital allocation as traffic patterns remain 11% below pre-pandemic levels adjusted for inflation, per Black Box Intelligence data through May 2025. Yum will deploy proceeds toward Taco Bell's international expansion, targeting 1,200 new units across India and Southeast Asia by 2028, and accelerating KFC's digital infrastructure buildout, which currently captures 38% of transactions compared to 52% at Domino's. LongRange Capital's thesis appears to hinge on operational deleveraging—the firm has historically reduced G&A by 190-240 basis points within eighteen months of acquisition—and a menu rationalization strategy that narrows SKU count by roughly 30% while elevating unit economics.
Allocators should monitor three developments over the next twelve months: First, whether LongRange can stabilize same-store sales within two quarters of close, a benchmark the firm achieved with its 2019 Quiznos acquisition. Second, the pace of store closures—consensus expects 800-1,100 units to shutter by end of 2026 as underperforming franchisees exit. Third, any indication that other QSR holding companies, notably Restaurant Brands International with its Burger King asset, pursue similar carve-outs if traffic headwinds persist through the back half of 2025.
Yum's stock traded up 1.7% in after-hours Tuesday on $12.3 million volume, suggesting the market had already priced in a disposition at this valuation range or lower.
Branded by POPS4 · proof in 60 seconds
For the principal
If the family office holds QSR exposure, assess whether consolidated peers face similar disposition pressure within eighteen months.
For the operator
Track LongRange's first two earnings calls post-close for G&A reduction velocity and franchisee attrition rates below 6% annually.
For the house
We are reducing QSR sector weight by 140 basis points and reallocating to digital-native restaurant platforms with sub-ten-year footprints.
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