Yum Brands reported revenue of approximately $7.1 billion for fiscal year 2024, up 3% year over year. Because Yum Brands operates a franchise-heavy model, reported revenue reflects royalties and fees rather than restaurant sales — keeping the top line modest while generating exceptionally high operating margins compared to traditional restaurant operators.
Yum Brands Revenue
Yum Brands Annual Revenue
| Year | Revenue (USD) | YoY Change |
|---|---|---|
| 2015 | $13.1B | — |
| 2016 | $6.4B* | −51.1% (China spinoff) |
| 2017 | $5.9B | −7.8% |
| 2018 | $5.7B | −3.4% |
| 2019 | $5.6B | −1.8% |
| 2020 | $5.6B | Flat |
| 2021 | $6.0B | +7.1% |
| 2022 | $6.6B | +10.0% |
| 2023 | $6.9B | +4.5% |
| 2024 | $7.1B | +2.9% |
* 2016 revenue dropped sharply following the spinoff of Yum China into a separate listed company, removing its restaurant revenues from Yum Brands' consolidated figures.