Yum China reports strong Q3, boosts shareholder returns

Yum China Holdings Inc. reported a 4% year-over-year increase in total system sales and revenues for the third quarter ended September 30, 2025, reaching $3.2 bn. Operating profit grew 8% YoY to $400m, with a restaurant margin of 17.3%, up 30 basis points. The company opened 536 net new stores in the quarter, bringing the total store count to 17,514, and plans to open 1,600 to 1,800 net new stores in 2025.

Shareholder returns are a key focus, with $414m returned in Q3 2025 through share repurchases and cash dividends. The company is on track to return $1.5 bn in 2025 and an additional $3 bn to shareholders from 2025 through 2026. A cash dividend of $0.24 per share was declared, payable on December 23, 2025.

KFC’s system sales grew 5% YoY, with 402 net new stores opened in Q3, while Pizza Hut saw 4% YoY system sales growth and opened a record 158 net new stores. Digital sales reached $2.8 bn, contributing approximately 95% of total company sales. Yum China will host an investor day on November 17, 2025, in Shenzhen, China.