Yum! Brands Inc (YUM)
Pretax margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 1,847,000 | 1,800,000 | 1,742,000 | 1,654,000 | 1,681,000 | 1,642,000 | 1,646,000 | 1,663,000 | 1,674,000 | 1,619,000 | 1,484,000 | 1,334,000 | 1,020,000 | 1,065,000 | 1,049,000 | 1,169,000 | 1,373,000 | 1,415,000 | 1,649,000 | 1,629,000 |
| Revenue (ttm) | US$ in thousands | 7,076,000 | 7,059,000 | 6,991,000 | 6,940,000 | 6,842,000 | 6,713,000 | 6,679,000 | 6,645,000 | 6,584,000 | 6,437,000 | 6,279,000 | 5,875,000 | 5,652,000 | 5,603,000 | 5,494,000 | 5,606,000 | 5,597,000 | 5,461,000 | 5,513,000 | 5,571,000 |
| Pretax margin | 26.10% | 25.50% | 24.92% | 23.83% | 24.57% | 24.46% | 24.64% | 25.03% | 25.43% | 25.15% | 23.63% | 22.71% | 18.05% | 19.01% | 19.09% | 20.85% | 24.53% | 25.91% | 29.91% | 29.24% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,847,000K ÷ $7,076,000K
= 26.10%
The pretax margin of Yum Brands Inc. has shown relative stability over the past eight quarters, ranging from a low of 23.56% in Q1 2023 to a high of 25.69% in Q4 2023. The average pretax margin over this period appears to be around 24.85%.
The fluctuations in the pretax margin may reflect various factors such as changes in operating expenses, cost of goods sold, revenue growth, or changes in tax regulations. It is worth noting that although there have been slight ups and downs in the pretax margin, the company has generally maintained a healthy level of profitability before taxes.
Overall, the trend in Yum Brands Inc.'s pretax margin suggests a consistent performance in managing its pre-tax profitability over the examined period. Further qualitative and quantitative analysis would be required to understand the specific drivers behind the fluctuations in the pretax margin.
Peer comparison
Dec 31, 2023