Filing Flows › Yum China Holdings (YUMC) › Q2 2026 › vs Q1 2026
Yum China Holdings (YUMC) Q2 2026 vs Q1 2026 (quarter over quarter)
Yum China Holdings's revenue fell $133M (-4%) from $3.3B in Q1 2026 to $3.1B in Q2 2026. The biggest changes: Food and Non Food Revenues From Sales −$137M (-4%); Other Revenue +$6.0M (+16%); Transactions with Franchisees −$1.0M (-0.6%). Operating margin 11.1% against 13.7% (-2.6 pts).
Yum China Holdings, Q2 2026: revenue $3.1B (+13% year over year), operating margin 11.1%, net earnings $244M, operating cash flow $426M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 11.1% | 13.7% | -2.6 pts |
| Net margin | 7.8% | 9.4% | -1.7 pts |
| Free cash flow margin | 9.5% | 12.4% | -2.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Food and Non Food Revenues From Sales | $2.9B | $3.0B | −$137M | -4% |
| Transactions with Franchisees | $155M | $156M | −$1.0M | -0.6% |
| Other Revenue | $44.0M | $38.0M | $6.0M | +16% |
| Franchise Fees and Income | $29.0M | $30.0M | −$1.0M | -3% |
| Revenue | $3.1B | $3.3B | −$133M | -4% |
| Operating profit | $348M | $447M | −$99.0M | -22% |
| Costs & expenses | $2.8B | $2.8B | −$34.0M | -1% |
| Pre-tax earnings | $356M | $454M | −$98.0M | -22% |
| General & admin | $139M | $137M | $2.0M | +1% |
| Other operating costs | $2.7B | $2.7B | −$36.0M | -1% |
| Net earnings | $244M | $309M | −$65.0M | -21% |
| Minority interests | $20.0M | $22.0M | −$2.0M | -9% |
| Income tax | $92.0M | $123M | −$31.0M | -25% |
| Depreciation & amortization | $120M | $117M | $3.0M | +3% |
| Share-based compensation | $13.0M | $10.0M | $3.0M | +30% |
| Working capital & other | $49.0M | $114M | −$65.0M | -57% |
| Operating cash flow | $426M | $550M | −$124M | -23% |
| Free cash flow (OCF − capex) | $299M | $406M | −$107M | -26% |
| Capital expenditures | $127M | $144M | −$17.0M | -12% |
Questions
How much did Yum China Holdings's revenue grow quarter over quarter in Q2 2026?
Yum China Holdings's revenue fell $133M (-4%) from $3.3B in Q1 2026 to $3.1B in Q2 2026.
What drove Yum China Holdings's revenue change in Q2 2026?
Food and Non Food Revenues From Sales −$137M (-4%); Other Revenue +$6.0M (+16%); Transactions with Franchisees −$1.0M (-0.6%).