Services
Net Lease DispositionsAcquisitions & 1031 ExchangesLease RestructuringDiscount & Auto RetailShopping CentersQSR & Drive-ThruSale-LeasebacksBusiness Sales
Active ListingsTrack RecordTenant InsightsInsights
Net Lease News
AboutContactRequest a Valuation
QSR & Coffee

KFC

Parent: Yum! Brands · Public parent; mostly franchised

NYSE: YUM$160.88-0.2%close Nov. 9, 2026
Credit rating · Yum! BrandsBB+ High yield
S&P BB+Moody’s Ba2
AAAAAABBBBBBCCCD
Investment gradeHigh yield

S&P Global, as of Feb. 20, 2026 (Yum! Brands). Source: Yum! Brands Form 10-K, filed Feb. 20, 2026

Rating shown is for parent Yum! Brands, not for KFC on its own.

Founded1930Source: Wikidata
EmployeesNot verifiedNo verified source
Locations3,669Dec. 2024; source: QSR 50 2025 (2024 U.S. units, company-submitted)
HeadquartersPlano, TexasQSR & Coffee

New Initiatives

How the real estate strategy is changing: openings, closures, formats, remodels, relocations and refranchising.

  • KFC announced it would move its U.S. headquarters from Louisville, Kentucky to Plano, Texas.

    Source: CNBC

KFC is a fried chicken quick-service brand owned by Yum! Brands, which also owns Taco Bell, Pizza Hut and Habit Burger & Grill. KFC restaurants in the U.S. are nearly all franchised, so lease credit usually rests with the operating franchisee.

Store count

3,669 as of Dec. 31, 2024
-3.2% 1-year change vs. prior fiscal year
  1. 3,9532021
  2. 3,9182022
  3. 3,7912023
  4. 3,6692024

U.S. restaurants. Counts as reported at each period end. Sources: QSR 50 2022 (2021 U.S. units); QSR 50 2023 (2022 U.S. units, Circana ReCount); QSR 50 2024 (2023 U.S. units, company-submitted); QSR 50 2025 (2024 U.S. units, company-submitted).

What’s changing

  1. Expansion

    KFC announced it would move its U.S. headquarters from Louisville, Kentucky to Plano, Texas. Source: CNBC

Ownership history

  1. 1986

    Acquired by PepsiCo Source: Wikipedia: KFC

  2. 1997

    Spun off by PepsiCo into Tricon Global Restaurants, renamed Yum! Brands in 2002 Source: Wikipedia: Yum! Brands

SEC Filings

Filings by parent Yum! Brands, Inc.. KFC does not file on its own. All filings on EDGAR

PeriodFormFiledDocument
Fiscal year ended Dec. 31, 202510-KFeb. 20, 2026View on sec.gov
Fiscal year ended Dec. 31, 202410-KFeb. 19, 2025View on sec.gov
Fiscal year ended Dec. 31, 202310-KFeb. 20, 2024View on sec.gov
Fiscal year ended Dec. 31, 202210-KFeb. 27, 2023View on sec.gov
Latest quarter, period ended June 30, 202610-QAug. 5, 2026View on sec.gov

Credit ratings

AgencyRatingOutlookAs ofSource
S&P GlobalBB+Feb. 20, 2026 (Yum! Brands)Yum! Brands Form 10-K, filed Feb. 20, 2026
Moody’sBa2Feb. 20, 2026 (Yum! Brands)Yum! Brands Form 10-K, filed Feb. 20, 2026

Bond market context

Issuer bond yieldUnavailable. No free, licensed source for individual bond yields.
BB index effective yield6.73% (Nov. 6, 2026; ICE BofA BB US High Yield Index)
BB index spread (OAS)208 bps over Treasuries; 195 bps a year earlier (FRED)
10-year Treasury4.88% (Nov. 9, 2026)

The index row shows the yield on BB-rated U.S. corporate bonds as a group, the closest free benchmark for this rating category. It is not the yield on this company’s own bonds.

Share prices, Yahoo Finance, as of Nov. 9, 2026. Bond index yields and spreads, ICE BofA US corporate and high yield indices, ICE Data Indices, LLC, via FRED, Federal Reserve Bank of St. Louis. 10-year yield, U.S. Department of the Treasury.

QSR & Coffee

Related tenants.

All tenant profiles · Store Count Tracker · Net Lease News

Black Rifle Coffee

QSR & Coffee
Parent: BRC Inc.
BRCC$10.09+4.5%
Not rated
39 locations · Founded 2014