Yum! Brands is the world's largest fast food company by unit count, with over 63,000 restaurants across 155 countries operating under four brands: KFC, Taco Bell, Pizza Hut, and Habit Burger & Grill. Yum! runs an asset-light franchise model — roughly 97% of restaurants are owned and operated by approximately 1,500 independent franchisees. Yum! earns primarily through royalties (typically 4–6% of franchisee sales) and franchise fees, meaning revenue grows as franchisees open new units or grow same-store sales. KFC is the flagship brand, with nearly 34,000 locations across 149 countries, making it the global leader in chicken QSR. Taco Bell, with roughly 9,000 locations concentrated in the U.S., is the #2 brand and Yum!'s strongest SSS performer. Together, KFC and Taco Bell account for roughly 89% of divisional operating profit. Pizza Hut operates nearly 20,000 restaurants globally but is under strategic review, with Yum! evaluating a potential sale. Habit Burger & Grill is a small fast-casual concept with 384 U.S. locations. Yum!'s growth algorithm targets roughly 5%+ annual net new unit growth and low-to-mid-single-digit SSS growth. A key differentiator in Yum!'s strategy is Byte by Yum!, a proprietary SaaS platform covering digital ordering, point-of-sale, kitchen management, and AI-driven tools — deployed across roughly 38,000 restaurants as of year-end FY25 — which Yum! argues drives franchisee economics and SSS while giving Yum! a proprietary data layer competitors cannot easily replicate.