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YUM Brands reported robust 2023 results: system sales up 10 percent to 64 point 958 billion dollars, net income 1 point 597 billion dollars (up 20 percent), driven by 6 percent same-store growth and unit expansion. Franchise-heavy model (98 percent) supports asset-light operations amid digital surge (45 percent sales). Challenges include geopolitics, food safety, and debt, but strong liquidity (1 point 603 billion dollars operations cash) funds growth and returns.

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