Yum! Brands (YUM) FY2020 results: revenue $5.7 billion, up 1.0% on the year
Yum! Brands, Inc. (YUM) reported revenue of $5.7 billion for fiscal 2020, the year ended 31 December 2020, up 1.0% on the year before. Net income was $904 million, down 30.1%, and diluted earnings per share $2.94. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2021.
Revenue
$5.7 billion
+1.0% on the year
FY2013FY2020
Operating margin
26.6%
34.5% a year earlier
FY2013FY2020
Net income
$904 million
-30.1% on the year
FY2013FY2020
Diluted EPS
$2.94
-29.0% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
5,652
5,597
5,688
+1.0%
Cost of revenue
1,506
1,235
1,634
+21.9%
Gross profit
4,146
4,362
4,054
-5.0%
Gross margin
73.4%
77.9%
71.3%
Operating income
1,503
1,930
2,296
-22.1%
Operating margin
26.6%
34.5%
40.4%
Interest expense
558
519
496
+7.5%
Pre-tax income
1,020
1,373
1,839
-25.7%
Income tax
116
79.0
297
+46.8%
Effective tax rate
11.4%
5.8%
16.2%
Net income
904
1,294
1,542
-30.1%
Net margin
16.0%
23.1%
27.1%
Diluted EPS
$2.94
$4.14
$4.69
-29.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,305
1,315
1,176
-0.8%
Capital expenditure
160
196
234
-18.4%
Free cash flow
1,145
1,119
942
+2.3%
Free cash flow margin
20.3%
20.0%
16.6%
Cash from investing
-335
-88.0
313
Cash from financing
-738
-938
-2,620
Depreciation and amortisation
146
112
137
+30.4%
Share-based compensation
97.0
59.0
50.0
+64.4%
Buybacks
239
815
2,390
-70.7%
Dividends paid
566
511
462
+10.8%
Dividend per share
$1.88
$1.68
$1.44
+11.9%
Diluted shares, weighted
307m
313m
329m
-1.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
-7,891
-8,016
-7,926
Short-term borrowings
n/a
n/a
321
Debt
10,725
10,562
9,751
+1.5%
Operating lease liabilities
823
640
n/a
+28.6%
Finance lease liabilities
72.0
70.0
n/a
+2.9%
Other liabilities
2,123
1,975
1,984
+7.5%
Total liabilities and equity
5,852
5,231
4,130
+11.9%
Fixed assets
1,235
1,170
1,237
+5.6%
Goodwill
597
530
525
+12.6%
Intangible assets
343
244
242
+40.6%
Cash and equivalents
730
605
292
+20.7%
Other assets
2,947
2,682
1,834
+9.9%
Total assets
5,852
5,231
4,130
+11.9%
10-K for the year ended 31 December 2020, filed 22 February 2021: the filing.