• Yum China average gross margin for 2023 was 20.65%, a 12.47% decline from 2022.
• Yum China average gross margin for 2022 was 18.36%, a 22.3% increase from 2021.
• Yum China average gross margin for 2021 was 23.63%, a 1.46% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.