Total Asset Turnover
since 2005
Calculation
YUM! Brands Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 26, 2015 | 1.62 | = | 13,105) | ÷ | 8,075) |
| Dec 27, 2014 | 1.59 | = | 13,279) | ÷ | 8,345) |
| Dec 28, 2013 | 1.50 | = | 13,084) | ÷ | 8,695) |
| Dec 29, 2012 | 1.51 | = | 13,633) | ÷ | 9,011) |
| Dec 31, 2011 | 1.43 | = | 12,626) | ÷ | 8,834) |
| Dec 25, 2010 | 1.36 | = | 11,343) | ÷ | 8,316) |
| Dec 26, 2009 | 1.52 | = | 10,836) | ÷ | 7,148) |
| Dec 27, 2008 | 1.73 | = | 11,279) | ÷ | 6,527) |
| Dec 29, 2007 | 1.44 | = | 10,416) | ÷ | 7,242) |
| Dec 30, 2006 | 1.50 | = | 9,561) | ÷ | 6,353) |
| Dec 31, 2005 | 1.64 | = | 9,349) | ÷ | 5,698) |
Based on: 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-25), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
1 US$ in millions
An analysis of the asset efficiency from 2005 to 2015 reveals a period of fluctuation in asset utilization followed by a steady recovery in the latter half of the decade. The relationship between revenue growth and asset expansion indicates shifting operational strategies regarding capital intensity.
- Revenue Growth Patterns
- Revenues experienced a general upward trajectory for the majority of the period, increasing from US$ 9,349 million in 2005 to a peak of US$ 13,633 million in 2012. Following this peak, revenues entered a period of relative stability, fluctuating slightly between US$ 13,084 million and US$ 13,279 million from 2013 to 2015.
- Asset Base Dynamics
- The total asset base expanded significantly from US$ 5,698 million in 2005 to a maximum of US$ 9,011 million in 2012. This growth phase was followed by a consistent contraction in assets, with the balance decreasing to US$ 8,075 million by 2015, suggesting a strategic reduction in the asset footprint or a shift toward a more asset-light model.
- Total Asset Turnover Volatility
- The total asset turnover ratio showed considerable variance between 2005 and 2010. An initial decline from 1.64 in 2005 to 1.44 in 2007 was followed by a sharp increase to 1.73 in 2008, which coincided with a temporary reduction in total assets. The ratio then declined to its lowest point of 1.36 in 2010.
- Efficiency Recovery and Stabilization
- A consistent improvement in asset efficiency is observed from 2011 to 2015, as the turnover ratio rose steadily from 1.43 to 1.62. This recovery was primarily driven by the reduction in total assets occurring while revenues remained stable, resulting in a higher volume of sales generated per unit of asset.
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Comparison to Competitors
YUM! Brands Inc., total asset turnover, long-term trends, comparison to competitors
| YUM! Brands Inc. | Airbnb Inc. | Booking Holdings Inc. | Chipotle Mexican Grill Inc. | DoorDash, Inc. | McDonald’s Corp. | Starbucks Corp. | |
|---|---|---|---|---|---|---|---|
| Dec 26, 2015 | 1.62 | — | 0.53 | 1.65 | — | 0.67 | 1.54 |
| Dec 27, 2014 | 1.59 | — | 0.57 | 1.61 | — | 0.80 | 1.53 |
| Dec 28, 2013 | 1.50 | — | 0.65 | 1.60 | — | 0.77 | 1.29 |
| Dec 29, 2012 | 1.51 | — | 0.80 | 1.64 | — | 0.78 | 1.62 |
| Dec 31, 2011 | 1.43 | — | 1.10 | 1.59 | — | 0.82 | 1.59 |
| Dec 25, 2010 | 1.36 | — | 1.06 | 1.64 | — | 0.75 | 1.68 |
| Dec 26, 2009 | 1.52 | — | 1.27 | 1.58 | — | 0.75 | 1.75 |
| Dec 27, 2008 | 1.73 | — | 1.40 | 1.61 | — | 0.83 | 1.83 |
| Dec 29, 2007 | 1.44 | — | 1.04 | 1.50 | — | 0.78 | 1.76 |
| Dec 30, 2006 | 1.50 | — | 1.02 | 1.36 | — | 0.74 | 1.76 |
| Dec 31, 2005 | 1.64 | — | 1.28 | 1.60 | — | 0.68 | 1.81 |
Based on: 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-25), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Consumer Services)
YUM! Brands Inc., total asset turnover, long-term trends, comparison to sector (consumer services)
| YUM! Brands Inc. | Consumer Services | |
|---|---|---|
| Dec 26, 2015 | 1.62 | 0.83 |
| Dec 27, 2014 | 1.59 | 0.90 |
| Dec 28, 2013 | 1.50 | 0.87 |
| Dec 29, 2012 | 1.51 | 0.94 |
| Dec 31, 2011 | 1.43 | 0.99 |
| Dec 25, 2010 | 1.36 | 0.94 |
| Dec 26, 2009 | 1.52 | 0.94 |
| Dec 27, 2008 | 1.73 | 1.02 |
| Dec 29, 2007 | 1.44 | 0.94 |
| Dec 30, 2006 | 1.50 | 0.89 |
| Dec 31, 2005 | 1.64 | 0.82 |
Based on: 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-25), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Discretionary)
YUM! Brands Inc., total asset turnover, long-term trends, comparison to industry (consumer discretionary)
| YUM! Brands Inc. | Consumer Discretionary | |
|---|---|---|
| Dec 26, 2015 | 1.62 | 0.98 |
| Dec 27, 2014 | 1.59 | 1.02 |
| Dec 28, 2013 | 1.50 | 1.04 |
| Dec 29, 2012 | 1.51 | 1.06 |
| Dec 31, 2011 | 1.43 | 1.08 |
| Dec 25, 2010 | 1.36 | 1.04 |
| Dec 26, 2009 | 1.52 | 0.94 |
| Dec 27, 2008 | 1.73 | 0.96 |
| Dec 29, 2007 | 1.44 | 0.88 |
| Dec 30, 2006 | 1.50 | 0.82 |
| Dec 31, 2005 | 1.64 | 0.85 |
Based on: 10-K (reporting date: 2015-12-26), 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-25), 10-K (reporting date: 2009-12-26), 10-K (reporting date: 2008-12-27), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).