YUM · 10-Q · 2026Q2 · Full report
Liquidity and Debt Position
YUM BRANDS INC · 2026-08-05 · Importance 56 · Surprise 24 · From source text
YUM had $11.5 billion of total debt outstanding, excluding the Revolving Facility, finance leases and debt issuance costs and discounts, as of June 30, 2026. Approximately 96% of this debt, including interest-rate swaps, was fixed at an effective overall interest rate of approximately 4.5%. The company targets a consolidated net leverage ratio of approximately 4.0x EBITDA over the medium term and expects to issue incremental debt as the business grows. YUM had $675 million outstanding under its $1.5 billion Revolving Facility and expects to refinance $750 million of subsidiary senior unsecured notes before the relevant 2027 deadline to preserve the anticipated 2029 maturity of the Term Loan A and Revolving Facility.
Key facts
- Total Current Liabilities as of 6/30/2026: $4,292 million and as of 12/31/2025: $1,516 million source
- Total Current Assets as of 6/30/2026: $2,541 million and as of 12/31/2025: $2,040 million source
- Long-term debt as of 6/30/2026: $9,462 million and as of 12/31/2025: $11,872 million source
- Total assets as of 6/30/2026: $8,682 million and as of 12/31/2025: $8,197 million source
- Total liabilities as of 6/30/2026: $15,789 million and as of 12/31/2025: $15,521 million source
- Short-term borrowings current maturities of long-term debt as of 6/30/2026: $2,823 million; Short-term borrowings (net) as of 6/30/2026: $2,813 million source
- Annual operating cash flows were in excess of $2.0 billion in 2025 and the company expects continued strong operating cash flows in 2026. source
- The Company maintains a $1.5 billion Revolving Facility which had $675 million outstanding as of June 30, 2026. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | realized | -32.0% | Total Current Liabilities as of 6/30/2026: $4,292 million and as of 12/31/2025: $1,516 million |
| liability | positive | realized | +27.8% | Long-term debt as of 6/30/2026: $9,462 million and as of 12/31/2025: $11,872 million |
| assets | positive | realized | +5.8% | Total Current Assets as of 6/30/2026: $2,541 million and as of 12/31/2025: $2,040 million |
| assets | positive | realized | +5.6% | Total assets as of 6/30/2026: $8,682 million and as of 12/31/2025: $8,197 million |
| liability | negative | realized | -3.1% | Total liabilities as of 6/30/2026: $15,789 million and as of 12/31/2025: $15,521 million |
| assets | positive | realized | +2.5% | Total Shareholders' Deficit as of 6/30/2026: $(7,107) million and as of 12/31/2025: $(7,325) million |
| liability | negative | realized | — | Short-term borrowings current maturities of long-term debt as of 6/30/2026: $2,823 million; Short-term borrowings (net) as of 6/30/2026:… |
| cash | positive | probable | — | Annual operating cash flows were in excess of $2.0 billion in 2025 and the company expects continued strong operating cash flows in 2026. |
| liability | negative | realized | — | The Company maintains a $1.5 billion Revolving Facility which had $675 million outstanding as of June 30, 2026. |
| cash | positive | realized | — | Cash on hand was $674 million at June 30, 2026. |