Yum Brands (FRA:TGR) Cyclically Adjusted PB Ratio: (As of Aug. 05, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:TGR Yum Brands Inc FRA:TGR
91 GF Score
Price €129.30
GF Value €147.57
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Yum Brands Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Yum Brands  (FRA:TGR) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Yum Brands Cyclically Adjusted PB Ratio Related Terms


Yum Brands Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Yum Brands's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Yum Brands Cyclically Adjusted PB Ratio Chart

Yum Brands Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Yum Brands Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

FRA:TGR vs CMG, DRI, YUMC: Cyclically Adjusted PB Ratio Comparison

For the Restaurants subindustry, Yum Brands's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Yum Brands Cyclically Adjusted PB Ratio vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Yum Brands's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Yum Brands's Cyclically Adjusted PB Ratio falls into.


FRA:TGR
91GF Score
Yum Brands Inc FRA:TGR
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Yum Brands Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Yum Brands's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Yum Brands's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=-22.597/333.9520*333.9520
=-22.597

Current CPI (Jun. 2026) = 333.9520.

Yum Brands Quarterly Data

Book Value per Share CPI Adj_Book
201609 -4.603 241.428 -6.367
201612 -14.994 241.432 -20.740
201703 -15.526 243.801 -21.267
201706 -15.741 244.955 -21.460
201709 -15.149 246.819 -20.497
201712 -16.121 246.524 -21.838
201803 -16.751 249.554 -22.416
201806 -19.446 251.989 -25.771
201809 -20.420 252.439 -27.014
201812 -22.768 251.233 -30.264
201903 -22.860 254.202 -30.032
201906 -23.272 256.143 -30.341
201909 -24.264 256.759 -31.559
201912 -24.048 256.974 -31.252
202003 -24.742 258.115 -32.011
202006 -23.920 257.797 -30.986
202009 -22.262 260.280 -28.563
202012 -21.621 260.474 -27.720
202103 -22.302 264.877 -28.118
202106 -22.132 271.696 -27.203
202109 -22.710 274.310 -27.648
202112 -25.641 278.802 -30.713
202203 -26.957 287.504 -31.312
202206 -28.440 296.311 -32.053
202209 -30.378 296.808 -34.180
202212 -29.925 296.797 -33.671
202303 -29.268 301.836 -32.382
202306 -27.809 305.109 -30.438
202309 -27.407 307.789 -29.737
202312 -25.643 306.746 -27.917
202403 -25.393 312.332 -27.151
202406 -25.225 314.175 -26.813
202409 -24.694 315.301 -26.155
202412 -26.172 315.605 -27.693
202503 -25.918 319.799 -27.065
202506 -23.955 322.561 -24.801
202509 -23.039 324.800 -23.688
202512 -22.618 324.054 -23.309
202603 -22.811 330.213 -23.069
202606 -22.597 333.952 -22.597

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Yum Brands (FRA:TGR) Overvalued in 2026?

Based on GuruFocus' analysis, Yum Brands stock appears to be undervalued. The current stock price of €129.30 is trading 12.4% below its estimated GF Value™ of €147.57. GuruFocus considers Yum Brands to be Modestly Undervalued.

Key valuation signals for FRA:TGR:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €147.57 vs. price of €129.30 (12.4% below fair value)
  • GF Score™: 91/100 with 4 warning signs

No single metric tells the full story. See the FRA:TGR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Yum Brands Business Description

Address 1441 Gardiner Lane, Louisville, KY, USA, 40213
As of the end of 2025, Yum Brands generated over $68 billion in systemwide sales from more than 63,000 restaurants across 155 markets, making it the world's second-largest restaurant firm by dollar sales. Its portfolio includes KFC (33,897 stores), Pizza Hut (19,974), Taco Bell (9,030), and Habit Burger (384), with 72% of locations in international markets. As 97% of its portfolio is franchised, Yum's business model is tilted toward recurring franchise royalties and marketing contributions (64% of revenue), with the balance derived from sales at company-owned locations. The company traces its roots to a 1997 spinoff of PepsiCo's restaurant assets.
91GF Score

Get the complete analysis for FRA:TGR

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€129.30
Price
€147.57
GF Value