# Who are Yum! Brands's customers? Who does Yum! Brands earn revenue from?
Canonical: https://valuechain.wiki/yum-brands · Facet: customers · Updated: 2026-09-12T00:48:03.055856+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Yum! Brands discloses no named confirmed revenue counterparties; 3 relationships are tracked as undisclosed/aggregate. Per the valuechain.wiki graph: 3 revenue edges, backed by 3 dated sources, 1 of them primary filings (as of 2026-09-12).

### KFC 가맹점 (high)
- metric: Amount $1.7B · FY2025 · Sum of disclosed KFC Division franchise revenue across the U.S., China and other markets
- note: KFC franchisees pay sales-based royalties and other franchise fees. Disclosed regional amounts sum to $1.748 billion of KFC franchise revenue in FY2025.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-20) https://www.sec.gov/Archives/edgar/data/1041061/000104106126000084/yum-20251231.htm: "Our most significant source of revenues arises from the operation of our Concepts' stores by our franchisees."
- [mentions] DBS Group Research (EN, research, published 2025-03-07) https://www.dbs.com/content/article/pdf/US_clover/Yum_Brands.pdf: "Over 98% of Yum! Brands' restaurants are operated under a franchised model."

### 타코벨 가맹점 (high)
- metric: Amount $1B · FY2025 · Sum of disclosed Taco Bell Division franchise revenue across the U.S., China and other markets
- note: Taco Bell franchisees pay royalties and franchise fees for brand rights and operating support. Disclosed regional amounts sum to $1.023 billion of Taco Bell franchise revenue in FY2025.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-20) https://www.sec.gov/Archives/edgar/data/1041061/000104106126000084/yum-20251231.htm: "Continuing fees are typically billed and paid monthly and are usually 4% - 6%."
- [confirms] MediaPen (KO, news, published 2025-04-04) https://www.mediapen.com/news/view/1004290: "KFC Korea signed a Taco Bell master franchise agreement for South Korea with Yum! Brands."

### 얌차이나 홀딩스 (high)
- metric: Market share 3% · FY2025 · Continuing fee rate applied to Yum China's system sales of licensed Yum concepts in mainland China
- note: Following the separation of the China business, Yum China became Yum! Brands' largest master franchisee. It pays a continuing fee equal to 3% of system sales for the licensed concepts in mainland China.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-20) https://www.sec.gov/Archives/edgar/data/1041061/000104106126000084/yum-20251231.htm: "As our largest master franchisee, Yum China, pays the Company a continuing fee of 3% on system sales."

Reverse side: https://valuechain.wiki/yum-brands/suppliers.md · Ripple: https://valuechain.wiki/yum-brands/ripple.md

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