Yum China Holdings, Inc. (YUMC)

Retail-Eating Places

Latest Price

$41.69

TTM P/E

15.27

Normalized P/E

19.39

Div Yield

2.54%

Book Value

15.31

P/B Ratio

2.72

Valuation metrics

EPS: $2.51

Book value / share: $15.19

Formula: √(22.5 × EPS × BVPS)

Graham Number

$29.29

30% downside

Norm. op. income: $1.1B (median of 7yr)

Tax rate: 27%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$26.71

36% downside

Base FCF: $734M (median of recent 5yr)

Growth: -1%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$26.23

37% downside

EPS: $2.51

Target P/E: 19×

Formula: EPS × P/E

P/E Fair Value

$47.69

+14% upside

63.4% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
JPMORGAN CHASE & CO	24.12M	$985.0M	6.99%	-1.28M	2026-06-30
PRINCIPAL FINANCIAL GROUP INC	21.13M	$861.0M	6.12%	-1.48M	2026-06-30
Primavera Capital Management Ltd	12.04M	$491.0M	3.49%	--	2026-06-30
BLS Capital Fondsmaeglerselskab A/S	10.84M	$442.0M	3.14%	-536.2K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	10.82M	$441.0M	3.14%	-291.0K	2026-06-30
Dodge & Cox	8.37M	$341.0M	2.42%	+13.8K	2026-06-30
W1M Asset Management Ltd	7.84M	$320.0M	2.27%	+1.66M	2026-06-30
Westwood Global Investments, LLC	7.01M	$286.0M	2.03%	+2.25M	2026-06-30
NORGES BANK	5.62M	$229.0M	1.63%	-260.6K	2026-06-30
GOLDMAN SACHS GROUP INC	4.40M	$179.0M	1.27%	+688.4K	2026-06-30