For the quarter ending 2026-03-31, YUMC had -$33M decrease in cash & cash equivalents over the period. $406M in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income - including noncontrolling interests | 331 | 153 | 305 | 546 |
| Depreciation and amortization | 117 | 115 | 114 | 219 |
| Non-cash operating lease cost | 106 | 102 | 100 | 199 |
| Closures and impairment expenses | 0 | 15 | 4 | 18 |
| Investment loss (gain) | -11 | 1 | -10 | -15 |
| Equity in net (earnings) losses from equity method investments | 2 | 3 | 6 | 6 |
| Distributions of income received from equity method investments | 3 | 7 | 0 | 9 |
| Deferred income taxes | -3 | -4 | -7 | -3 |
| Share-based compensation expense | 10 | 10 | 10 | 22 |
| Changes in accounts receivable | 7 | 6 | -8 | 13 |
| Changes in inventories | -30 | 39 | 27 | -52 |
| Changes in prepaid expenses, other current assets and value-added tax assets | -68 | 32 | 11 | 8 |
| Changes in accounts payable and other current liabilities | -68 | -24 | 44 | -53 |
| Changes in income taxes payable | 68 | -52 | 37 | 24 |
| Changes in non-current operating lease liabilities | -102 | -110 | -101 | -200 |
| Other, net | -12 | -6 | -3 | 43 |
| Net cash provided by operating activities | 550 | 125 | 477 | 864 |
| Capital spending | 144 | 241 | 126 | 259 |
| Purchases of short-term investments, long-term bank deposits and notes | 1,867 | 1,421 | 2,238 | 3,924 |
| Maturities of short-term investments, long-term bank deposits and notes | 1,777 | 1,971 | 2,340 | 3,905 |
| Acquisition of equity investment | 0 | 0 | 0 | 14 |
| Other, net | -1 | 0 | - | -2 |
| Net cash used in investing activities | -233 | 311 | -26 | -290 |
| Proceeds from short-term borrowings | 20 | 0 | 29 | - |
| Repayment of short-term borrowings | 30 | 0 | 0 | 129 |
| Repurchase of shares of common stock | 218 | 452 | 324 | 368 |
| Cash dividends paid on common stock | 102 | 85 | 88 | 180 |
| Dividends paid to noncontrolling interests | 15 | 44 | 6 | 25 |
| Acquisitions of noncontrolling interests | - | 8 | - | - |
| Contributions from noncontrolling interests | - | 0 | - | - |
| Acquisition of noncontrolling interests | - | - | -8 | - |
| Payment of acquisition related holdback | - | 0 | - | - |
| Other, net | -8 | -1 | -1 | -7 |
| Net cash used in financing activities | -353 | -582 | -398 | -709 |
| Effect of exchange rates on cash, cash equivalents and restricted cash | 3 | 4 | 3 | 4 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | -33 | -142 | 56 | -131 |
| Cash, cash equivalents, and restricted cash - beginning of period | 506 | 648 | 723 | - |
| Cash, cash equivalents, and restricted cash - end of period | 473 | 506 | 648 | - |
Yum China Holdings, Inc. (YUMC)
Yum China Holdings, Inc. (YUMC)