Yum China Holdings: Accelerating Earnings Growth Is On The Menu

  • Yum China Holdings dominates the improving Western-style fast food industry in China and has a wide moat. A commitment to opening over 1000 units/year will drive mid-double-digit EPS growth over the next three years. YUMC's free cash flow generation has returned to pre-covid levels and they are committed to a healthy return of capital to shareholders.