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Yum! Brands (YUM) Q4 FY2021 earnings: revenue $1.9 billion, up 8.4% on the year

Yum! Brands, Inc. (YUM) reported revenue of $1.9 billion for Q4 FY2021, the quarter ended 31 December 2021, up 8.4% on the same quarter a year earlier. Net income was $330 million, down 0.6% on the year, and diluted earnings per share $1.10. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2022.

Revenue
$1.9 billion
+8.4% on the year · +17.7% on the quarter
Q1 FY2020Q4 FY2021
Operating margin
26.6%
27.7% a year earlier
Q1 FY2020Q4 FY2021
Net income
$330 million
-0.6% on the year · -37.5% on the quarter
Q1 FY2020Q4 FY2021
Diluted EPS
$1.10
+1.9% on the year · -37.1% on the quarter
Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Revenue1,8901,6061,743+17.7%+8.4%
Cost of revenue495n/an/a
Gross profit1,395n/an/a
Gross margin73.8%n/an/a
Operating income502527482-4.7%+4.1%
Operating margin26.6%32.8%27.7%
Interest expense539n/an/a
Pre-tax income407n/an/a
Income tax77.0n/an/a
Effective tax rate18.9%n/an/a
Net income330528332-37.5%-0.6%
Net margin17.5%n/an/a
Diluted EPS$1.10$1.75$1.08-37.1%+1.9%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free 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

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Operating cash flow414n/an/a
Capital expenditure92.0n/an/a
Free cash flow322n/an/a
Free cash flow margin17.0%n/an/a
Cash from investing-50.0n/an/a
Cash from financing-886n/an/a
Depreciation and amortisation47.039.046.0+20.5%+2.2%
Share-based compensation17.0n/an/a
Buybacks734n/an/a
Dividends paid146n/an/a
Diluted shares, weighted302m302mn/a0.0%
Shares outstanding at period end289m293m300m-1.4%-3.7%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Shareholders' equity-8,373-7,855-7,891
Debt11,24611,25310,725-0.1%+4.9%
Operating lease liabilities793n/an/a
Finance lease liabilities64.0n/an/a
Other liabilities2,236n/an/a
Total liabilities and equity5,966n/an/a
Fixed assets1,207n/an/a
Goodwill657n/an/a
Intangible assets359n/an/a
Cash and equivalents4861,001730-51.4%-33.4%
Other assets3,257n/an/a
Total assets5,966n/an/a

Questions

What was Yum! Brands' revenue in Q4 FY2021?

Yum! Brands (YUM) reported revenue of $1.9 billion for Q4 FY2021, the quarter ended 31 December 2021, up 8.4% on the same quarter a year earlier.

How much did Yum! Brands earn in Q4 FY2021?

Net income for Q4 FY2021 was $330 million, down 0.6% on the year, and diluted earnings per share $1.10.

When did Yum! Brands report Q4 FY2021 results?

Yum! Brands filed its 10-K for the year that ended with the quarter on 23 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue1,8901,5471,6361,6402,0191,6451,6871,7082,0361,5981,7631,8262,3621,7871,9331,9792,5152,0592,1692,054
Cost of revenue495402415402526403415421535400470523727520560587816677700679
Gross profit1,3951,1451,2211,2381,4931,2421,2721,2871,5011,1981,2931,3031,6351,2671,3731,3921,6991,3821,4691,375
Gross margin74%74%75%75%74%76%75%75%74%75%73%71%69%71%71%70%68%67%68%67%
Operating income5025095545465785235736136095206076196575486226667386446552,317
Operating margin27%33%34%33%29%32%34%36%30%33%34%34%28%31%32%34%29%31%30%113%
Interest expense539n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Pre-tax income4073983904474273714785054643834875025284294995416085165332,195
Tax rate19%-0%43%26%18%19%13%18%6%18%25%24%20%41%25%27%12%16%-60%26%
Net income3303992243313713004184164633143673824232533743975354328531,623
Net margin17%26%14%20%18%18%25%24%23%20%21%21%18%14%19%20%21%21%39%79%
Diluted EPS$1.10$1.36$0.77$1.14$1.29$1.05$1.46$1.46$1.62$1.10$1.28$1.35$1.49$0.90$1.33$1.41$1.91$1.55$3.08$5.92
Operating cash flow414253269453452349329477448363342471513404446543617416507475
Capital expenditure92.042.055.061.012162.060.057.010649.050.052.010671.071.094.013575.010087.0
Free cash flow322211214392331287269420342314292419407333375449482341407388
Buybacks73434321415748650.00.00.00.00.050.027711422910936.0178185489528
Dividends paid146165162162160169170169170189188188187198197197197207206203
Shares outstanding289m285m285m282m280m280m280m280m281m282m281m279m279m278m278m278m276m276m273m268m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 23 February 2022: the filing.