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Yum China Holdings, Inc.

YUMC · Consumer Discretionary · $15.3B mkt cap · FY2025 filings · · Narrow moat ·

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Narrow moat
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The five investor questions

69

2021–2025 (latest 5 aligned FYs; v3 window cap 5): revenue $9.9B to $11.8B, increasing; diluted EPS 2.28 to 2.51, increasing.

31

Median gross margin 22.8% over 2y, stable.

89

Median ROIC 18.2%, above the 12% hurdle in 90% of years.

100

Net cash position — no leverage risk.

68

Owner earnings changed +7.2%/yr over up to the ten most recent annual observations.

Price vs. value if growth stopped today

A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.

Above value if growth stopped todayBelow value if growth stopped today
51% above value if growth stopped today
$911M
$28.59
$46.32
$43.20
51% above value if growth stopped today

What today’s price assumes: owner earnings growing ~9%/yr over 5 years. The zero-growth estimate assumes owner earnings stay flat (0% growth).

How to read this

We solve for the constant annual change in owner earnings that would make the five-year zero-growth estimate equal today’s price. This keeps the existing model inputs and calculation unchanged; it is an expectations lens, not a forecast.

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.

Among the current top-score group, the median current price is 240% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.

Score records captured Oct 15, 2026.

Exactly which 50 companies?

FTNT, IBEX, META, MEDP, MSFT, GOOG, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, CPRT, VEEV, RMD, GRMN, PCTY, EAT, UI, SSD, MNST, DOCS, LRCX, MCO, NTAP, NVDA, CORT, SFM, MPTI, ULTA, SN, ROL, CTAS, PAYC, IRMD, DECK, MORN, INTU, JKHY, TPR, LGCY, DAL, GWW, ISRG, MPWR, LOPE

Missing a usable price or zero-growth estimate: ANF.

Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 4% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.

13 years of fundamentals

The business, in plain English

Across the filed record, revenue grew from $6.9B (FY2014) to $11.8B (FY2025) — about 4.9% a year compounded over 11 years.

It earned 19.2% on invested capital in the latest filed year, FY2025. Across the full 11-year measurable filed record, median ROIC was 19.2%. Over the v3 recent window (10 measurable filed years), median ROIC was 18.2%. The Returns on Capital filter above scores it 89/100.

The balance sheet carried $30M of total debt in FY2025 against $929M of owner earnings — roughly 0.0 years of owner earnings to retire it all. Balance-Sheet Safety scores it 100/100.

Put together: Balance-Sheet Safety is the strongest of the five filters (100/100) and Pricing Power the weakest (31/100), which is how YUMC lands at 71/100 — a Narrow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

FY2013–FY2025 · 13 fiscal years, normalized from YUMC’s SEC filings

Sales, as filed$11.8B FY2025
$0$5B$10B2013201720212025
Revenue kept after cost of goods25.0% FY2017
0%10%20%2013201720212025
Standard ROIC or separately labeled Operating ROICStandard ROIC 18.7% FY2025

Exact FY and FY-1 financing invested-capital inputs are required.

0%10%20%2013201720212025
Cash an owner could take out$929M FY2025
$0$500M$1B2013201720212025

The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Flagship explainer

How Yum China Holdings, Inc. makes its money

Yum China Holdings, Inc.'s filing does not supply enough comparable lines for a truthful flow chart — here's what is filed:

Table alternative
Filed lineValue% of revenueSource
$11.8B100%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
$1.3B11%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
Income before tax$1.4B12%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
Income tax$369M3%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
$929M8%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
· event Dec 31, 2025 · retrieved Oct 15, 2026 · annual-row source set

Flagship explainer

What Yum China Holdings, Inc. owns — and owes

Yum China Holdings, Inc.'s filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$10.8B100%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
Cash and equivalents$506M5%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
$30M0%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
Stockholders’ equity$5.4B50%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
· event Dec 31, 2025 · retrieved Oct 15, 2026 · annual-row source set

Flagship explainer

What drives Yum China Holdings, Inc.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity17%Tax burden68%net income ÷ pretax incomeInterest burden105%pretax ÷ operating incomeOperating margin11%operating income ÷ revenueAsset turnover1.08×revenue ÷ average assetsEquity multiplier1.97×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$929MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
Income before tax$1.4BFY2025
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
Operating income$1.3BFY2025
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
$11.8BFY2025
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
Ending assets$10.8BFY2025
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
Beginning assets$11.1BFY2024
  • 10-K · FY 2024Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
$5.4BFY2025
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
$5.7BFY2024
  • 10-K · FY 2024Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
Source: · event Dec 31, 2025 · retrieved Oct 15, 2026 · annual-row source set
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Flagship explainer

Where Yum China Holdings, Inc.'s cash went

Yum China Holdings, Inc.’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:

Table alternative
Filed lineValue% of cash from operationsSource
Cash from operations$1.5B100%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
Depreciation and amortization$448M31%
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001193125-26-082824 · filed Feb 27, 2026
· event Dec 31, 2025 · retrieved Oct 15, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding Yum China Holdings, Inc.

Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.

1 holding0 exited17 not holding18/19 resolved1 not retrieved

Named manager positions and quarter-over-quarter changes
ManagerReported positionQuarter-over-quarterFiling accession
Dodge & Cox8,365,562 shares$342M · 0% of eligible reported 13FAdded to position · +13,800 shares (0%)
Abrams CapitalNo position reportedNo position reported
Akre CapitalNo position reportedNo position reported
Baupost GroupNo position reportedNo position reported
Berkshire HathawayNo position reportedNo position reported
Brave Warrior AdvisorsNo position reportedNo position reported
First EagleNo position reportedNo position reported
FundsmithNo position reportedNo position reported
Gardner Russo & QuinnNo position reportedNo position reported
Gates Foundation TrustNo position reportedNo position reported
Mairs & PowerNo position reportedNo position reported
Markel / Markel-GaynerNo position reportedNo position reported
Oakmark / Harris AssociatesNo position reportedNo position reported
Polen CapitalNo position reportedNo position reported
Sequoia / Ruane CunniffNo position reportedNo position reported
Southeastern Asset ManagementNo position reportedNo position reported
Tweedy, BrowneNo position reportedNo position reported
Yacktman Asset ManagementNo position reportedNo position reported
Pershing SquareNot retrievedComparison not retrievedFiling not retrieved

Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.

Source:
37 SEC filings
  1. 13F-HR · Q1 2026Filing detailsAccession 0000813917-26-000038 · filed May 15, 2026
  2. 13F-HR · Q2 2026Filing detailsAccession 0000813917-26-000042 · filed Aug 14, 2026
  3. 13F-HR · Q1 2026Filing detailsAccession 0000860643-26-000003 · filed May 13, 2026
  4. 13F-HR · Q2 2026Filing detailsAccession 0000860643-26-000005 · filed Aug 13, 2026
  5. 13F-HR · Q1 2026Filing detailsAccession 0000905567-26-000002 · filed May 1, 2026
  6. 13F-HR · Q2 2026Filing detailsAccession 0000905567-26-000003 · filed Aug 11, 2026
  7. 13F-HR · Q1 2026Filing detailsAccession 0000919574-26-003132 · filed May 15, 2026
  8. 13F-HR · Q2 2026Filing detailsAccession 0000919574-26-005176 · filed Aug 14, 2026
  9. 13F-HR · Q1 2026Filing detailsAccession 0001061768-26-000007 · filed May 14, 2026
  10. 13F-HR · Q2 2026Filing detailsAccession 0001061768-26-000010 · filed Aug 13, 2026
  11. 13F-HR · Q1 2026Filing detailsAccession 0001096343-26-000044 · filed May 1, 2026
  12. 13F-HR · Q2 2026Filing detailsAccession 0001096343-26-000065 · filed Jul 31, 2026
  13. 13F-HR · Q1 2026Filing detailsAccession 0001104659-26-062592 · filed May 15, 2026
  14. 13F-HR · Q2 2026Filing detailsAccession 0001104659-26-097175 · filed Aug 14, 2026
  15. 13F-HR · Q1 2026Filing detailsAccession 0001112520-26-000009 · filed May 14, 2026
  16. 13F-HR · Q2 2026Filing detailsAccession 0001112520-26-000014 · filed Aug 14, 2026
  17. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-001819 · filed May 14, 2026
  18. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-001911 · filed May 14, 2026
  19. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-001966 · filed May 14, 2026
  20. 13F-HR · Q1 2026Filing detailsAccession 0001172661-26-002294 · filed May 15, 2026
  21. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003035 · filed Aug 4, 2026
  22. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003402 · filed Aug 13, 2026
  23. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003496 · filed Aug 14, 2026
  24. 13F-HR · Q2 2026Filing detailsAccession 0001172661-26-003728 · filed Aug 14, 2026
  25. 13F-HR · Q1 2026Filing detailsAccession 0001193125-26-208439 · filed May 6, 2026
  26. 13F-HR · Q1 2026Filing detailsAccession 0001193125-26-223352 · filed May 14, 2026
  27. 13F-HR · Q1 2026Filing detailsAccession 0001193125-26-226661 · filed May 15, 2026
  28. 13F-HR · Q2 2026Filing detailsAccession 0001193125-26-340443 · filed Aug 7, 2026
  29. 13F-HR · Q2 2026Filing detailsAccession 0001193125-26-349535 · filed Aug 13, 2026
  30. 13F-HR · Q2 2026Filing detailsAccession 0001193125-26-352200 · filed Aug 14, 2026
  31. 13F-HR/A · Q1 2026 · Amendment RESTATEMENTFiling detailsAccession 0001325447-26-000018 · filed May 14, 2026
  32. 13F-HR · Q2 2026Filing detailsAccession 0001325447-26-000020 · filed Aug 5, 2026
  33. 13F-HR/A · Q2 2026 · Amendment NEW HOLDINGSFiling detailsAccession 0001325447-26-000033 · filed Aug 24, 2026
  34. 13F-HR · Q1 2026Filing detailsAccession 0001398344-26-009296 · filed May 15, 2026
  35. 13F-HR · Q2 2026Filing detailsAccession 0001398344-26-014641 · filed Aug 14, 2026
  36. 13F-HR · Q1 2026Filing detailsAccession 0001569205-26-000005 · filed May 15, 2026
  37. 13F-HR · Q2 2026Filing detailsAccession 0001569205-26-000012 · filed Aug 14, 2026
· event Jun 30, 2026 · retrieved Oct 15, 2026

Flagship explainer

What Yum China Holdings, Inc. insiders reported

Records still being gathered — partial as of retrieval Oct 15, 2026.

Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.

Moat Score history

28 logged readings since Jul 17, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale71.4 / 100
0406080100WideNarrowShallowNo moatJul 17, 2026Oct 15, 2026

Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.

Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars

  1. Normalizer upgraded unstamped (version unknown)moat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
  2. Methodology upgraded moat-index@2.0.0moat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
  3. Methodology upgraded moat-index@1.2.0moat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026

Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.

Insider activity

Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”

These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.

This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.

Records still being gathered — partial as of retrieval Oct 15, 2026.

Among the rows shown, A/F/M acquisition, payment or withholding, and exercise or conversion rows outnumber S sale rows (44 versus 6). The filing codes alone do not establish that every such row arose from a compensation plan.

Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.

InsiderShares owned afterDateFiling detail
DING JerryChief People OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock5$41.35$2074,305Sep 17, 2026
1 filed lot
  • Table I · Common Stock: 5 shares at $41.35 · code F · owned after 4,305 ·
DING JerryChief People OfficerExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event9—Exercise or conversion of derivative security (M)—4,310Sep 17, 2026
1 filed lot
  • Table I · Common Stock: 9 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 4,310 · Paired event: 9 Restricted Stock Unit → 9 Common Stock ·
DING JerryChief People OfficerGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit87—Grant, award, or other acquisition (A)—See lot detailSep 17, 2026
4 filed lots
  • Table II · Restricted Stock Unit: 2 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 403 ·
  • Table II · Restricted Stock Unit: 11 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 1,585 ·
  • Table II · Restricted Stock Unit: 25 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 3,625 ·
  • Table II · Restricted Stock Unit: 49 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 7,037 ·
DING JerryChief People OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit · 1 paired event9—Exercise or conversion of derivative security (M)—0Sep 17, 2026
1 filed lot
  • Table II · Restricted Stock Unit: 9 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 9 Restricted Stock Unit → 9 Common Stock ·
Wat JoeyDirector, Chief Executive OfficerGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit1,433—Grant, award, or other acquisition (A)—See lot detailSep 17, 2026
3 filed lots
  • Table II · Restricted Stock Unit: 316 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 45,371 ·
  • Table II · Restricted Stock Unit: 505 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 72,530 ·
  • Table II · Restricted Stock Unit: 612 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 87,963 ·
Kuai JeffGeneral Manager, Pizza HutGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit175—Grant, award, or other acquisition (A)—See lot detailSep 17, 2026
3 filed lots
  • Table II · Restricted Stock Unit: 33 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 4,761 ·
  • Table II · Restricted Stock Unit: 60 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 8,702 ·
  • Table II · Restricted Stock Unit: 82 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 11,873 ·
Wang WartonGeneral Manager, KFCGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit279—Grant, award, or other acquisition (A)—See lot detailSep 17, 2026
3 filed lots
  • Table II · Restricted Stock Unit: 44 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 6,348 ·
  • Table II · Restricted Stock Unit: 88 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 12,691 ·
  • Table II · Restricted Stock Unit: 147 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 21,111 ·
Zhang LeilaChief Technology OfficerGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit106—Grant, award, or other acquisition (A)—See lot detailSep 17, 2026
3 filed lots
  • Table II · Restricted Stock Unit: 22 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 3,174 ·
  • Table II · Restricted Stock Unit: 35 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 5,075 ·
  • Table II · Restricted Stock Unit: 49 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 7,037 ·
HUANG Duoduo (Howard)Chief Supply Chain OfficerGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit140—Grant, award, or other acquisition (A)—See lot detailSep 17, 2026
3 filed lots
  • Table II · Restricted Stock Unit: 22 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 3,174 ·
  • Table II · Restricted Stock Unit: 42 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 6,163 ·
  • Table II · Restricted Stock Unit: 76 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 10,995 ·
Lu XuelingController and PAOGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit54—Grant, award, or other acquisition (A)—See lot detailSep 17, 2026
3 filed lots
  • Table II · Restricted Stock Unit: 10 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 1,470 ·
  • Table II · Restricted Stock Unit: 17 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 2,536 ·
  • Table II · Restricted Stock Unit: 27 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 3,957 ·
LIU PingpingChief Legal OfficerGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit84—Grant, award, or other acquisition (A)—See lot detailSep 17, 2026
4 filed lots
  • Table II · Restricted Stock Unit: 1 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 267 ·
  • Table II · Restricted Stock Unit: 9 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 1,358 ·
  • Table II · Restricted Stock Unit: 25 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 3,625 ·
  • Table II · Restricted Stock Unit: 49 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 7,037 ·
Ding AdrianChief Financial OfficerGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit244—Grant, award, or other acquisition (A)—See lot detailSep 17, 2026
4 filed lots
  • Table II · Restricted Stock Unit: 22 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 3,176 ·
  • Table II · Restricted Stock Unit: 45 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 6,527 ·
  • Table II · Restricted Stock Unit: 43 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 6,302 ·
  • Table II · Restricted Stock Unit: 134 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 19,350 ·
DING JerryChief People OfficerExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event1,318—Exercise or conversion of derivative security (M)—4,895Sep 1, 2026
1 filed lot
  • Table I · Common Stock: 1,318 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 4,895 · Paired event: 1,318 Restricted Stock Unit → 1,318 Common Stock ·
DING JerryChief People OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Common Stock594$44.88$26,6594,301Sep 1, 2026
1 filed lot
  • Table I · Common Stock: 594 shares at $44.88 · code F · owned after 4,301 ·
DING JerryChief People OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit · 1 paired event1,318—Exercise or conversion of derivative security (M)—0Sep 1, 2026
1 filed lot
  • Table II · Restricted Stock Unit: 1,318 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 1,318 Restricted Stock Unit → 1,318 Common Stock ·
HUANG Duoduo (Howard)Chief Supply Chain OfficerExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 2 paired events18,117$35.2939$639,420See lot detailAug 18, 2026
2 filed lots
  • Table I · Common Stock: 7,638 shares at $26.56 · code M · owned after 34,740 · Paired event: 7,638 Stock Appreciation Right → 7,638 Common Stock ·
  • Table I · Common Stock: 10,479 shares at $41.66 · code M · owned after 45,219 · Paired event: 10,479 Stock Appreciation Right → 10,479 Common Stock ·
HUANG Duoduo (Howard)Chief Supply Chain OfficerOpen-market or private sale (S)Table I · Disposed · Common Stock24,096$47.0833$1,134,520See lot detailAug 18, 2026
3 filed lots
  • Table I · Common Stock: 3,344 shares at $47.14 · code S · owned after 41,875 ·
  • Table I · Common Stock: 1,239 shares at $47.14 · code S · owned after 40,636 ·
  • Table I · Common Stock: 19,513 shares at $47.07 · code S · owned after 7,589 ·
HUANG Duoduo (Howard)Chief Supply Chain OfficerDisposition to the issuer (D)Table I · Disposed · Common Stock13,534$47.25$639,482See lot detailAug 18, 2026
2 filed lots
  • Table I · Common Stock: 4,294 shares at $47.25 · code D · owned after 36,342 ·
  • Table I · Common Stock: 9,240 shares at $47.25 · code D · owned after 27,102 ·
HUANG Duoduo (Howard)Chief Supply Chain OfficerExercise or conversion of derivative security (M)Table II · Disposed · Stock Appreciation Right · 2 paired events18,117—Exercise or conversion of derivative security (M)—See lot detailAug 18, 2026
2 filed lots
  • Table II · Stock Appreciation Right: 7,638 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 7,638 Stock Appreciation Right → 7,638 Common Stock ·
  • Table II · Stock Appreciation Right: 10,479 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 10,479 Stock Appreciation Right → 10,479 Common Stock ·
Kuai JeffGeneral Manager, Pizza HutExercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 2 paired events23,390$26.7793$626,367See lot detailAug 12, 2026
2 filed lots
  • Table I · Common Stock: 12,212 shares at $26.98 · code M · owned after 80,065 · Paired event: 12,212 Stock Appreciation Right → 12,212 Common Stock ·
  • Table I · Common Stock: 11,178 shares at $26.56 · code M · owned after 91,243 · Paired event: 11,178 Stock Appreciation Right → 11,178 Common Stock ·
Kuai JeffGeneral Manager, Pizza HutOpen-market or private sale (S)Table I · Disposed · Common Stock14,586$47.7189$696,027See lot detailAug 12, 2026
3 filed lots
  • Table I · Common Stock: 5,313 shares at $47.71 · code S · owned after 85,930 ·
  • Table I · Common Stock: 4,961 shares at $47.71 · code S · owned after 80,969 ·
  • Table I · Common Stock: 4,312 shares at $47.74 · code S · owned after 63,541 ·
Kuai JeffGeneral Manager, Pizza HutDisposition to the issuer (D)Table I · Disposed · Common Stock13,116$47.76$626,420See lot detailAug 12, 2026
2 filed lots
  • Table I · Common Stock: 6,899 shares at $47.76 · code D · owned after 74,070 ·
  • Table I · Common Stock: 6,217 shares at $47.76 · code D · owned after 67,853 ·
Kuai JeffGeneral Manager, Pizza HutExercise or conversion of derivative security (M)Table II · Disposed · Stock Appreciation Right · 2 paired events23,390—Exercise or conversion of derivative security (M)—See lot detailAug 12, 2026
2 filed lots
  • Table II · Stock Appreciation Right: 12,212 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 12,212 Stock Appreciation Right → 12,212 Common Stock ·
  • Table II · Stock Appreciation Right: 11,178 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 11,178 Stock Appreciation Right → 11,178 Common Stock ·

Source-event as of . Retrieved .

Track record

How Yum China Holdings, Inc.’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.

Point-in-time scores 2016–2025, one methodology version · reconstructed from filings on file each Dec 31 — never with hindsight

Point-in-time Moat Score (dot colored by tier)Indexed price (total-return (dividends reinvested))Rated Wide-moat that year

How to read this: each dot is what the engine would have scored YUMC on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

0406080100WideNarrowShallowNo moatPoint-in-time Moat Score100200Indexed price · log scale (2017 = 100)201620182020202220242026

Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.

What followed, in the years it rated Wide

In the reconstructed history shown, YUMC did not rate Wide-moat in any year, so there is no wide-moat track record to report. That absence is itself the honest answer — we don’t manufacture a comparison where the rating never earned one.

Consumer Discretionary context

#72 of 487 scored Consumer Discretionary companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #70CSV CARRIAGE SERVICES, INC.71.9Narrow moat
  2. #71FSS FEDERAL SIGNAL CORPORATION71.6Narrow moat
  3. #73GOLF Acushnet Holdings Corp.71.2Narrow moat
  4. #74HLT Hilton Worldwide Holdings Inc.70.9Narrow moat

Compare YUMC with its nearest peers →All Consumer Discretionary companies on the Index →

Common questions about YUMC

Does Yum China Holdings, Inc. have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores Yum China Holdings, Inc. (YUMC) 71.4 out of 100 — a Narrow moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 69, pricing power 31, returns on capital 89, balance-sheet safety 100, capital allocation 68.
Is YUMC trading below the conservative owner-earnings estimate?
The value if growth stopped today — a zero-growth baseline — is $28.59 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $43.20, that is 51% above value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.
How has YUMC's Moat Score changed over time?
The record logs 28 readings since Jul 17, 2026; the latest reads 71.4 out of 100 (narrow moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.

Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell YUMC. See the disclaimer.