copy of yum key ratios

7/29/2019 Copy of Yum Key Ratios

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Growth Profitability and Financial Ratios for Yum Brands Inc

Financials

2003-12 2004-12 2005-12 2006-12 2007-12

Revenue USD Mil 8,380 9,011 9,349 9,561 10,416

Gross Margin % 48.2 47.6 23.8 25.8 25

Operating Income USD Mil 1,059 1,155 1,153 1,262 1,357

Operating Margin % 12.6 12.8 12.3 13.2 13Net Income USD Mil 617 740 762 824 909

Earnings Per Share USD 1.01 1.21 1.28 1.46 1.68

Dividends USD 0.1 0.22 0.27 0.53

Payout Ratio % 8.3 16.9 18.2 31.3

Shares Mil 611 612 598 564 541

Book Value Per Share USD 1.9 2.72 2.56 2.74 2.24

Operating Cash Flow USD Mil 1,053 1,131 1,272 1,302 1,567

Cap Spending USD Mil -663 -645 -609 -614 -742

Free Cash Flow USD Mil 390 486 663 688 825

Free Cash Flow Per Share USD 0.64 0.79 1.11 1.22 1.52

Working Capital USD Mil -655 -629 -768 -825 -581

Key Ratios -> Profitability

Margins % of Sales 2003-12 2004-12 2005-12 2006-12 2007-12

Revenue 100 100 100 100 100

COGS 51.8 52.39 76.18 74.2 75.01

Gross Margin 48.2 47.61 23.82 25.8 24.99

SG&A 35.86 35.73 12.39 12.78 12.41

R&D

Other -0.3 -0.94 -0.9 -0.18 -0.45

Operating Margin 12.64 12.82 12.33 13.2 13.03Net Int Inc & Other -2.06 -1.43 -1.36 -1.61 -1.59

EBT Margin 10.57 11.39 10.97 11.59 11.43

Profitability 2003-12 2004-12 2005-12 2006-12 2007-12

Tax Rate % 30.25 27.88 25.73 25.63 23.68

Net Margin % 7.36 8.21 8.15 8.62 8.73

Asset Turnover (Average) 1.52 1.59 1.64 1.59 1.53

Return on Assets % 11.2 13.08 13.38 13.68 13.37

Financial Leverage (Average) 5.02 3.57 3.93 4.42 6.36

Return on Equity % 72 54.51 50.07 57.1 70.57

Return on Invested Capital % 15.95 19.84 20.09 20.22 19.41

Interest Coverage

Key Ratios -> Growth

2003-12 2004-12 2005-12 2006-12 2007-12

Revenue %

Year over Year 8.03 7.53 3.75 2.27 8.94

3-Year Average 5.72 9.03 6.42 4.49 4.95

5-Year Average -0.21 2.87 5.68 6.58 6.07


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10-Year Average 0.73

Operating Income %

Year over Year 5.37 9.07 -0.17 9.45 7.53

3-Year Average 7.06 10.07 4.69 6.02 5.52

5-Year Average 6.64 4.88 5.97 7.82 6.19

10-Year Average 7.44

Net Income %Year over Year 5.83 19.94 2.97 8.14 10.32

3-Year Average 14.32 14.57 9.34 10.12 7.1

5-Year Average 6.75 3.37 13.03 10.86 9.29

10-Year Average

EPS %

Year over Year 7.45 19.8 5.37 14.51 15.07

3-Year Average 13.41 14.31 10.69 13.07 11.56

5-Year Average 7.3 4.31 12.98 12.51 12.31

10-Year Average

Key Ratios -> Cash Flow

Cash Flow Ratios 2003-12 2004-12 2005-12 2006-12 2007-12

Operating Cash Flow Growth % YOY -3.22 7.41 12.47 2.36 20.35

Free Cash Flow Growth % YOY 18.9 24.62 36.42 3.77 19.91

Cap Ex as a % of Sales 7.91 7.16 6.51 6.42 7.12

Free Cash Flow/Sales % 4.65 5.39 7.09 7.2 7.92

Free Cash Flow/Net Income 0.63 0.66 0.87 0.83 0.91

Key Ratios -> Financial Health

Balance Sheet Items (in %) 2003-12 2004-12 2005-12 2006-12 2007-12

Cash & Short-Term Investments 3.68 2.04 3.53 5.12 10.89Accounts Receivable 3.01 3.37 4.14 3.46 3.11

Inventory 1.19 1.33 1.49 1.46 1.77

Other Current Assets 6.46 6.37 5.53 4.11 4.68

Total Current Assets 14.34 13.11 14.69 14.15 20.45

Net PP&E 58.36 60.38 58.9 57.15 53.15

Intangibles 15.62 15.8 15.23 15.88 13.88

Other Long-Term Assets 11.67 10.71 11.18 12.81 12.52

Total Assets 100 100 100 100 100

Accounts Payable 21.58 7.27 21.73 21.82 8.82

Short-Term Debt 0.18 0.19 3.7 3.57 3.98

Taxes Payable

Accrued Liabilities 4.62 5.14

Other Short-Term Liabilities 4.23 12.08 2.74 1.75 10.54

Total Current Liabilities 26 24.16 28.17 27.14 28.47

Long-Term Debt 36.58 30.39 28.94 32.19 40.38

Other Long-Term Liabilities 17.49 17.45 17.46 18.05 15.42

Total Liabilities 80.07 72 74.57 77.38 84.27

Total Stockholders' Equity 19.93 28 25.43 22.62 15.73

Total Liabilities & Equity 100 100 100 100 100


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Liquidity/Financial Health 2003-12 2004-12 2005-12 2006-12 2007-12

Current Ratio 0.55 0.54 0.52 0.52 0.72

Quick Ratio 0.26 0.22 0.27 0.32 0.49

Financial Leverage 5.02 3.57 3.93 4.42 6.36

Debt/Equity 1.84 1.09 1.14 1.42 2.57

Key Ratios -> Efficiency Ratios

Efficiency 2003-12 2004-12 2005-12 2006-12 2007-12

Days Sales Outstanding 7.34 7.31 8.35 8.7 7.8

Days Inventory 5.47 5.53 4.13 4.58 5.16

Payables Period 100.02 62.9 42.33 67.5 47.3

Cash Conversion Cycle -87.21 -50.06 -29.85 -54.22 -34.34

Receivables Turnover 49.73 49.92 43.69 41.93 46.81

Inventory Turnover 66.78 66.03 88.47 79.71 70.71

Fixed Assets Turnover 2.65 2.68 2.75 2.74 2.79

Asset Turnover 1.52 1.59 1.64 1.59 1.53


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2008-12 2009-12 2010-12 2011-12 2012-12 TTM

11,279 10,836 11,343 12,626 13,633 13,161

24.3 25.7 28.4 27.6 27.7 27.5

1,506 1,590 1,769 1,815 2,294 2,053

13.4 14.7 15.6 14.4 16.8 15.6964 1,071 1,158 1,319 1,597 1,426

1.96 2.22 2.38 2.74 3.38 3.06

0.68 0.78 0.88 1.04 1.19 1.29

34.7 35.1 37 37.8 35.2 42.2

491 483 486 481 473 466

-0.23 2.19 3.36 3.96 4.78 4.98

1,521 1,404 1,968 2,170 2,294 2,099

-970 -797 -796 -940 -1,099 -1,165

551 607 1,172 1,230 1,195 934

1.12 1.26 2.41 2.56 2.53

-771 -445 -135 -129 -279

2008-12 2009-12 2010-12 2011-12 2012-12 TTM

100 100 100 100 100 100

75.71 74.31 71.59 72.39 72.27 72.48

24.29 25.69 28.41 27.61 27.73 27.52

11.9 12.22 12.23 12.01 12.05 12.48

-0.96 -1.2 0.59 1.22 -1.14 -0.56

13.35 14.67 15.6 14.38 16.83 15.6-2 -1.79 -1.54 -1.24 -1.09 -1.04

11.35 12.88 14.05 13.14 15.73 14.56

2008-12 2009-12 2010-12 2011-12 2012-12 TTM

24.69 22.42 26.1 19.53 25.04 25.57

8.55 9.88 10.21 10.45 11.71 10.84

1.64 1.58 1.47 1.47 1.53 1.47

14 15.66 14.98 15.38 17.9 15.9

6.97 5.28 4.85 4.18 3.94

187 233.59 89.04 77.61 80.31 65.44

19.75 23.33 21.45 22.73 29.02 24.64

6.06 7.58 9.17 10.02 15.4 15.19

2008-12 2009-12 2010-12 2011-12 2012-12 Latest Qtr

8.29 -3.93 4.68 11.31 7.98 -8.33

6.46 4.26 2.88 3.83 7.95

6.12 3.76 3.94 5.72 5.53


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2.91 3.31 4.81 6.15 5.8

10.98 5.58 11.26 2.6 26.39 -17.55

9.31 8.01 9.24 6.42 13

7.3 6.6 8.94 7.54 11.07

6.97 5.74 7.44 7.68 8.6

6.05 11.1 8.12 13.9 21.08

8.15 9.13 8.4 11.02 14.25

9.33 7.67 8.73 9.87 11.93

8.04 5.5 10.86 10.36 10.6

16.67 13.27 7.21 15.13 23.36 -11.59

15.41 14.99 12.31 11.81 15.04

14.18 12.91 13.3 13.42 15.01

10.69 8.52 13.14 12.96 13.65

2008-12 2009-12 2010-12 2011-12 2012-12 TTM

-2.94 -7.69 40.17 10.26 5.71

-33.21 10.16 93.08 4.95 -2.85

8.6 7.36 7.02 7.44 8.06 8.85

4.89 5.6 10.33 9.74 8.77 7.1

0.57 0.57 1.01 0.93 0.75 0.65

2008-12 2009-12 2010-12 2011-12 2012-12 Latest Qtr

3.31 4.94 17.15 13.56 8.61 5.713.51 3.34 3.08 3.24 3.34 4.02

2.19 1.71 2.27 3.09 3.47 3.64

5.56 6.91 5.32 6.38 5.76 4.95

14.57 16.9 27.81 26.27 21.19 18.31

56.84 54.55 46.06 45.76 47.16 48.52

14.4 15.42 13.64 11.09 19.13 20.85

14.19 13.14 12.49 16.88 12.52 12.32

100 100 100 100 100 100

22.57 6.98 19.26 21.21 21.58 19.84

0.38 0.83 8.09 3.62 0.11 0.78

1.75 2.55 0.73 1.61 1.08 1.16

4.78

1.69 7.99 1.35 1.29 1.51 0.92

26.38 23.13 29.44 27.73 24.28 22.71

54.6 44.87 35.05 33.93 32.54 33.3

20.67 17.67 16.56 17.7 19.28 18.63

101.65 85.66 81.05 79.36 76.1 74.63

-1.65 14.34 18.95 20.64 23.9 25.37

100 100 100 100 100 100


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2008-12 2009-12 2010-12 2011-12 2012-12 Latest Qtr

0.55 0.73 0.94 0.95 0.87 0.81

0.26 0.36 0.69 0.61 0.49 0.43

6.97 5.28 4.85 4.18 3.94

3.13 1.85 1.64 1.36 1.31

2008-12 2009-12 2010-12 2011-12 2012-12 TTM

7.35 7.88 7.96 7.83 7.86 9.36

5.79 6.01 6.99 9.22 10.86 11.94

45.14 44.7 47.22 69.41 70.74 67.13

-32 -30.81 -32.27 -52.35 -52.03 -45.84

49.69 46.31 45.83 46.59 46.45 39

63.02 60.77 52.22 39.57 33.62 30.57

2.98 2.85 2.94 3.21 3.29 3.15

1.64 1.58 1.47 1.47 1.53 1.47


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Liquidity 2006-12 2007-12 2008-12 2009-12 2010-12 2011-12 2012-12

Current Ratio 0.52 0.72 0.55 0.73 0.94 0.95 0.87

Quick Ratio 0.32 0.49 0.26 0.36 0.69 0.61 0.49

Avg Collection Period

Receivables Turnover 41.93 46.81 49.69 46.31 45.83 46.59 46.45

Inventory Turnover 79.71 70.71 63.02 60.77 52.22 39.57 33.62

Asset Management 2006-12 2007-12 2008-12 2009-12 2010-12 2011-12 2012-12

Asset Turnover 1.59 1.53 1.64 1.58 1.47 1.47 1.53

Fixed Assets Turnover 2.74 2.79 2.98 2.85 2.94 3.21 3.29

Capital Structure 2006-12 2007-12 2008-12 2009-12 2010-12 2011-12 2012-12

Debt to Assets

Debt to Equity 1.42 2.57 0 3.13 1.85 1.64 1.36

Times Interest Earned 0 0 6.06 7.58 9.17 10.02 15.4

Profitability 2006-12 2007-12 2008-12 2009-12 2010-12 2011-12 2012-12

Contribution Margin 20.22 19.41 19.75 23.33 21.45 22.73 29.02

Profit Margin on Sales % 13.2 13 13.4 14.7 15.6 14.4 16.8

Break Even in Dollars

Return on Assets % 13.68 13.37 14 15.66 14.98 15.38 17.9

Return on Equity % 57.1 70.57 187 233.59 89.04 77.61 80.31

Earnings Per Share USD 1.46 1.68 1.96 2.22 2.38 2.74 3.38

PE Ratio


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Yum! Brands, Inc. (NYS: YUM)

Exchange rate used is that of the Year End reported date

As Reported Annual Balance SheetReport Date 12/29/2012 12/31/2011

Currency USD USD

Audit Status Not Qualified Not Qualified

Consolidated Yes Yes

Scale Millions MillionsCash & cash equivalents 776 1,198

Short-term investments - -

Accounts & notes receivable, gross 313 308

Less: Allowance for doubtful accounts - accounts & notes receiv 12 22

Accounts & notes receivable, net 301 286

Inventories 313 273

Income tax receivable 55 150Assets held for sale 56 24

Other prepaid expenses & current assets 161 164

Prepaid expenses & other current assets 272 338

Prepaid expenses & other current assets - -

Deferred income taxes 111 112

Advertising cooperative assets, restricted 136 114

Total current assets 1,909 2,321

Land 469 527

Buildings & improvements 4,093 3,856

Capital leases, primarily buildings 200 316

Machinery & equipment 2,627 2,568

Property, plant & equipment, gross 7,389 7,267Accumulated depreciation & amortization 3,139 3,225

Property, plant & equipment, net 4,250 4,042

Goodwill 1,034 681

Intangible assets, net 690 299

Investments in unconsolidated affiliates 72 167

Restricted cash - 300

Other assets 575 475

Deferred income taxes 481 549

Total assets 9,011 8,834

Accounts payable 684 712

Capital expenditure liability - -

Accrued capital expenditure 264 229

Accrued compensation & benefits 487 440Dividends payable 151 131

Accrued taxes, other than income taxes 103 112

Other current liabilities 256 250

Proceeds from sale of interest in Japan unconsolidated affiliate - -

Accounts payable & other current liabilities 1,945 1,874

Income taxes payable 97 142

Unsecured term loans - -

Current maturities of long-term debt 10 315


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Current portion of fair value hedge accounting adjustment - 5

Other short-term borrowings - -

Short-term borrowings 10 320

Advertising cooperative liabilities 136 114

Total current liabilities 2,188 2,450

Unsecured international revolving credit facility - -

Unsecured revolving credit facility - -Senior unsecured notes 2,750 3,012

Senior, unsecured term loan - -

Capital lease obligations 170 279

Other long-term debt - -

Total long-term debt 2,920 3,291

Less current maturities of long-term debt 10 315

Long-term debt excluding hedge accounting adjustment 2,910 2,976

Long-term portion of fair value hedge accounting adjustment 22 21

Long-term debt 2,932 2,997

Other liabilities & deferred credits 1,579 1,471

Total liabilities 6,699 6,918

Redeemable non-controlling interest 59 -

Common stock - 18

Retained earnings (accumulated deficit) 2,286 2,052

Foreign currency translation adjustment 166 140

Pension & post retirement gains losses, net of tax (286) (375)

Net unrealized gains (losses) on derivative instruments, net of ta (12) (12)

Accumulated other comprehensive income (loss) (132) (247)

Total shareholders' equity (deficit) - YUM! Brands, Inc. 2,154 1,823

Noncontrolling interest 99 93

Total shareholders' equity (deficit) 2,253 1,916


10/18

12/25/2010 12/26/2009 12/27/2008

USD USD USD

Not Qualified Not Qualified Not Qualified

Yes Yes Yes

Millions Millions Millions1,426 353 216

- - -

289 274 252

33 35 23

256 239 229

189 122 143

115 158 -- - -

154 156 -

269 314 -

- - 172

61 81 81

112 99 110

2,313 1,208 951

542 538 517

3,709 3,800 3,596

274 282 259

2,578 2,627 2,525

7,103 7,247 6,8973,273 3,348 3,187

3,830 3,899 3,710

659 640 605

475 462 335

154 144 65

- - -

519 544 561

366 251 300

8,316 7,148 6,527

540 499 508

- 114 130

174 - -

357 342 376118 98 87

95 100 -

318 260 372

- - -

1,602 1,413 1,473

61 82 114

- - -

673 56 15


11/18

- - -

- 3 10

673 59 25

112 99 110

2,448 1,653 1,722

- - -

- 5 2993,257 2,906 2,542

- - 375

236 249 234

64 67 70

3,557 3,227 3,520

673 56 15

2,884 3,171 3,505

31 36 59

2,915 3,207 3,564

1,284 1,174 1,349

6,647 6,034 6,635

- - -

86 253 7

1,717 996 303

55 47 (129)

(269) (259) (272)

(13) (12) (17)

(227) (224) (418)

1,576 1,025 (108)

93 89 -

1,669 1,114 -


12/18

12/29/2007 12/30/2006

USD USD

Not Qualified Not Qualified

Yes Yes

Millions Millions789 319

- 6

246 238

21 18

225 220

128 93

- -- -

- -

- -

142 132

125 57

72 74

1,481 901

548 541

3,649 3,449

284 221

2,651 2,566

7,132 6,7773,283 3,146

3,849 3,631

672 662

333 347

153 138

- -

464 369

290 305

7,242 6,353

639 554

- -

- -

372 30275 119

- -

436 411

128 -

1,650 1,386

52 37

- 183

268 16


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- -

20 28

288 227

72 74

2,062 1,724

28 174

- -2,792 1,596

- -

282 228

73 76

3,175 2,074

268 16

2,907 2,058

17 (13)

2,924 2,045

1,117 1,147

6,103 4,916

- -

- -

1,119 1,593

94 -

(64) (160)

(10) 4

20 (156)

1,139 1,437

- -

- -


14/18

Yum! Brands, Inc. (NYS: YUM)

Exchange rate used is that of the Year End reported date

Profitability Ratios 12/29/2012 12/31/2011ROA % (Net) 17.95 15.13

ROE % (Net) 80.53 76.36

ROI % (Operating) 41.05 35.14

EBITDA Margin % 21.1 18.75

Calculated Tax Rate % 25.6 20.1

Revenue per Employee 26,139 26,656

Liquidity Ratios 12/29/2012 12/31/2011Quick Ratio 0.49 0.6

Current Ratio 0.87 0.95

Net Current Assets % TA (3.1) (1.46)

Debt Management 12/29/2012 12/31/2011LT Debt to Equity 1.36 1.64

Total Debt to Equity 1.37 1.82

Interest Coverage 14.06 11.79

Asset Management 12/29/2012 12/31/2011Total Asset Turnover 1.53 1.45

Receivables Turnover 46.58 45.84

Inventory Turnover 33.62 39.57

Accounts Payable Turnover 19.59 19.84

Accrued Expenses Turnover 14.26 15

Property Plant & Equip Turnover 3.3 3.16

Cash & Equivalents Turnover 13.85 9.47

Per Share 12/29/2012 12/31/2011Cash Flow per Share 4.99 4.55

Book Value per Share 4.91 3.96


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12/25/2010 12/26/2009 12/27/200815.02 15.71 14.04

89.29 234.23 187.52

37.97 37.67 35.11

20.21 19.44 17.89

26.8 23.01 25.28

30,090 31,045 33,661

12/25/2010 12/26/2009 12/27/20080.68 0.35 0.25

0.94 0.73 0.55

(1.62) (6.23) (11.81)

12/25/2010 12/26/2009 12/27/20081.85 3.13 Equity


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12/29/2007 12/30/200613.41 13.71

70.77 57.26

32.07 33.86

17.47 17.54

24.74 26.87

34,700 34,240

12/29/2007 12/30/20060.49 0.32

0.72 0.52

(8.02) (12.95)

12/29/2007 12/30/20062.57 1.42

2.82 1.58

7.77 7.69

12/29/2007 12/30/20061.54 1.59

46.94 42.05

70.34 79.71

17.51 20.14

24.07 27.59

2.79 2.74

18.85 40.2

12/29/2007 12/30/20063.01 2.39

2.28 2.71


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Liquidity 2012 % 2011 % 2010 % 2009 % 2008 % 2007 % 2006

Current Ratio 0.87 -9% 0.95 1% 0.94 22% 0.73 25% 0.55 -31% 0.72 28% 0.52

Quick Ratio 0.49 -22% 0.6 -13% 0.68 49% 0.35 29% 0.25 -96% 0.49 35% 0.32

Avg Collection Period 46.58 2% 45.84 0% 45.96 -1% 46.43 -7% 49.82 6% 46.94 10% 42.05

Inventory Turnover 33.62 -18% 39.57 -32% 52.22 -15% 59.88 -4% 62.47 -13% 70.34 -13% 79.71

Asset Management 2012 % 2011 % 2010 % 2009 % 2008 % 2007 % 2006

Asset Turnover 1.53 5% 1.45 -1% 1.47 -8% 1.59 -3% 1.64 6% 1.54 -3% 1.59

Fixed Assets Turnover 3.3 4% 3.16 7% 2.94 3% 2.86 -5% 2.99 7% 2.79 2% 2.74

Capital Structure 2012 % 2011 % 2010 % 2009 % 2008 % 2007 % 2006

Debt to Assets 1.35 5% 1.28 2% 1.25 5% 1.18 17% 0.98 -21% 1.19 -9% 1.29

Debt to Equity 1.37 -33% 1.82 -25% 2.28 -40% 3.19 Equity


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Date Open High Low Close Volume Adj Close

12/28/2012 65.06 65.29 64.7 64.72 2804200 63.77

12/30/2011 59.5 59.59 59.01 59.01 1246200 57.08

12/23/2010 49.99 50.27 49.54 49.66 1631000 47.07

12/24/2009 35.45 35.57 35.32 35.38 1028500 32.83

12/26/2008 30.39 30.71 29.95 30.28 937000 27.43

12/28/2007 38.22 38.72 38.14 38.54 1452300 34.2312/29/2006 59 59.36 58.65 58.8 1178800 25.69

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