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Guidance history, every release
Raised · a change from the previous releaseSame · restated unchanged— · not stated in that releaseEvery value links to its sentence in the filing
| Metric | Nov 4, 2024 FY24 Q3 | Feb 6, 2025 FY24 Q4 | Apr 30, 2025 FY25 Q1 | Aug 4, 2025 FY25 Q2 | Nov 4, 2025 FY25 Q3 | Feb 4, 2026 FY25 Q4 | Apr 29, 2026 FY26 Q1 | Jul 30, 2026 FY26 Q2 |
|---|---|---|---|---|---|---|---|---|
| For FY2028 | ||||||||
| Capital return | — | — | — | — | — | New“exceed $1 billion” | — | Reiterated“exceed $1 billion” |
| Capital return to shareholders | — | — | — | — | — | — | New“exceed $1 billion” | — |
| For FY2027 | ||||||||
| Average annual capital return | — | — | — | — | — | New“approximately $900 million to over $1 billion” | Reiterated“approximately $900 million to over $1 billion” | Reiterated“approximately $900 million to over $1 billion” |
| Capital return as % of free cash flow | — | — | — | — | — | — | New“approximately 100% of annual free cash flow after subsidiaries' dividend payments to non-controlling interests” | — |
| Capital return policy (free cash flow payout) | — | — | — | — | — | New“approximately 100% of annual free cash flow after subsidiaries' dividend payments to non-controlling interests” | — | — |
| Capital return policy, share of free cash flow | — | — | — | — | — | — | — | New“approximately 100% of annual free cash flow after subsidiaries ’ dividend payments to non-controlling interests” |
| For FY2026 | ||||||||
| Capital expenditures | — | — | — | — | — | New“approximately $600 million to $700 million” | Reiterated“approximately $600 million to $700 million” | Reiterated“approximately $600 million to $700 million” |
| Capital return to shareholders | — | — | — | — | — | New“$1.5 billion in capital to shareholders” | Reiterated“$1.5 billion” | Reiterated“$1.5 billion” |
| Capital return to shareholders (headline) | — | — | — | — | — | New“On Track to Return $1.5 billion to Shareholders in 2026” | — | — |
| Cash dividend per share | — | — | — | — | — | — | New“$0.29 per share” | — |
| Declared dividend per share | — | — | — | — | — | — | — | New“$0.29 per share” |
| Dividend per share | — | — | — | — | — | New“$0.29 per share” | — | — |
| Franchise mix of net new stores | — | — | — | — | — | — | — | New“40-50%” |
| Franchise mix of net new stores (KFC and Pizza Hut) | — | — | — | — | — | New“40-50%” | Reiterated“40-50%” | — |
| Net new stores | — | — | — | — | — | New“more than 1,900” | Reiterated“more than 1,900” | Reiterated“more than 1,900” |
| Share repurchase amount | — | — | — | — | — | New“approximately US$460 million” | — | — |
| Share repurchase amount (Hong Kong) | — | — | — | — | — | New“approximately HK$880 million” | — | — |
| Share repurchase amount (U.S., Rule 10b5-1) | — | — | — | — | — | New“approximately US$350 million” | — | — |
| Store count goal | — | New“20,000” | — | — | — | — | — | — |
| Total store count | — | — | — | — | — | New“over 20,000 stores” | — | — |
| Total stores | — | — | — | — | — | New“over 20,000” | Reiterated“over 20,000” | Reiterated“over 20,000” |
| For FY2025 | ||||||||
| Assumed quarterly dividend | — | — | — | New“$0.24 per share” | — | — | — | — |
| Capital expenditures | — | New“approximately $700 million to $800 million” | Reiterated“approximately $700 million to $800 million” | Lowered“approximately $600 million to $700 million” | Reiterated“approximately $600 million to $700 million” | — | — | — |
| Capital return to shareholders | — | — | — | New“$3 billion” | — | — | — | — |
| Capital returned to shareholders | — | New“$3 billion” | Reiterated“$3 billion” | — | Lowered“approximately $1.5 billion” | — | — | — |
| Cash dividend per share | — | New“$0.24 per share” | — | — | — | — | — | — |
| Franchise mix of net new stores | — | — | — | — | New“40-50% for KFC and 20-30% for Pizza Hut” | — | — | — |
| KFC franchise mix of net new stores | — | — | — | New“40-50%” | — | — | — | — |
| Net new stores | — | — | New“approximately 1,600 to 1,800” | Reiterated“Approximately 1,600 to 1,800” | Reiterated“Approximately 1,600 to 1,800” | — | — | — |
| Net new stores (full-year target, CEO comment) | — | — | New“1,600-1,800” | — | — | — | — | — |
| Net new stores target | — | New“approximately 1,600 to 1,800” | — | — | — | — | — | — |
| Pizza Hut franchise mix of net new stores | — | — | — | New“20-30%” | — | — | — | — |
| Share repurchase agreements | — | — | — | New“$510 million” | — | — | — | — |
| Share repurchase agreements – Hong Kong | — | New“approximately HK$550 million” | — | — | — | — | — | — |
| Share repurchase agreements – U.S. (Rule 10b5-1) | — | New“approximately US$290 million” | — | — | — | — | — | — |
| Share repurchase agreements (aggregate) | — | New“approximately US$360 million” | — | — | — | — | — | — |
| Total return of capital | — | — | — | New“at least $1.2 billion” | — | — | — | — |
| For FY2024 | ||||||||
| Average annual capital return (% of market capitalization) | — | — | New“around 9%” | — | — | — | — | — |
| Capital expenditures | New“approximately $700 million to $850 million” | — | — | — | — | — | — | — |
| Capital return to shareholders | — | — | — | — | — | New“$1.5 billion each year from 2024 to 2026” | Reiterated“$1.5 billion each year from 2024 to 2026” | Reiterated“$1.5 billion each year from 2024 to 2026” |
| Capital returns to shareholders | New“$3 billion to $4.5 billion” | — | — | — | — | — | — | — |
| Net new store openings | New“approximately 1,500 to 1,700” | — | — | — | — | — | — | — |
| No period stated | ||||||||
| Dividend increase (headline) | — | — | — | — | — | New“Increase Dividend by 21%” | — | — |
| Franchise mix of net new stores | New“40-50% for KFC and 20-30% for Pizza Hut” | — | — | — | — | — | — | — |
| Franchise mix of net new stores - KFC | — | New“40-50%” | Reiterated“40-50%” | — | — | — | — | — |
| Franchise mix of net new stores - Pizza Hut | — | New“20-30%” | Reiterated“20-30%” | — | — | — | — | — |
| New store payback period | — | — | — | — | — | — | — | New“two to three years” |
| Offshore bridge loan to finance Pizza Hut Mainland China acquisition | — | — | — | — | — | — | — | New“approximately $1.2 billion equivalent” |
| Pizza Hut Mainland China acquisition, expected closing | — | — | — | — | — | — | — | New“August 2026” |
| Total store count (long-term target) | — | — | — | — | — | New“more than 30,000” | — | — |
Values in quotation marks are the company’s words. Change labels compare each statement with the same metric and target year in the previous release. HighGravityData does not judge whether guidance was met.